| | | EQT jumps as Trump, McCormick plan $70B in AI, energy announcements for Pennsylvania
Jul. 14, 2025 3:52 PM ET
By: Carl Surran, SA News Editor
EQT (NYSE: EQT) +5.2% in Monday's trading as President Trump and Pennsylvania Senator McCormick plan to use an innovation summit in Pittsburgh on Tuesday to announce $70B in artificial intelligence and energy investments for the state.
McCormick will say the $70B figure represents the "largest investment commitment in these industries in terms of dollars for the state and jobs created in the history of the Commonwealth," and anticipated investments include new data centers, new power generation and grid infrastructure to meet surging data center demand, along with AI training programs and apprenticeships for businesses, Axios reported.
Blackstone ( BX) President and COO Jonathan Gray will announce $25B in spending on data center and energy infrastructure development in northeast Pennsylvania, along with a joint venture for increased power generation, according to the report.
Among CEOs expected to attend the event, Axios said: Exxon Mobil's ( XOM) Darren Woods, Chevron's ( CVX) Mike Wirth, BlackRock's ( BLK) Larry Fink, Palantir's ( PLTR) Alex Karp, Amazon Web Services' ( AMZN) Matt Garman, Brookfield Asset Management's ( BAM) Bruce Flatt, and EQT's (NYSE: EQT) Toby Rice. |
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