Mentioned:
One of Italy’s largest oil and gas companies is forming a new partnership to build out artificial intelligence infrastructure. But, why?
What’s happening:
- Italian oil and gas producer Eni (NYSE:E) has struck a new deal with Abu Dhabi based investment funds MGX and G42 to build new data centres in Italy
By the numbers:
- The new data centre campus is expected to have 1 gigawatt in total capacity
Why it matters:
- This is one of the largest scale deals that has ever been done in Europe between a large global investment fund and a publicly traded oil and gas company for building out new data centres for high performance computing
Going deeper:
- Eni plans to power the new data centres from natural gas plants that also leverage advanced carbon capture technologies to reduce overall emissions
- Eni has been embracing disruptive technology shifts at scale, recently making waves when they announced they had built their own supercomputer
The intrigue:
- Using natural gas to power data centres has become an emerging theme, with new deals recently being cut by both Energy Transfer (NYSE: ET) and Blackstone
