Babcock & Wilcox is entering the AI industry, announcing a $1.5 billion energy project to power Applied Digital data centers.
The energy technology and service provider will design and install four 300 MW gas-fired power plants. The data center locations have not yet been disclosed, but Applied Digital currently operates in both Texas and North Dakota.
This data center deal, along with a few other financial decisions, has helped B&W rebound after their stocks plummeted earlier this year, which reached as low as 22 cents per share and prompted warnings from the New York Stock Exchange.
B&W has added $3 billion to their pipeline, a significant addition that brings their global total to $10 billion.
If this announcement from B&W proves anything, it’s that the market is clearly favoring emerging industries like data centers and the energy infrastructure that goes along with them.
