US investment in coal and gas power generation surpasses China for the first time in decades, driven by data center demand.
US companies will spend $50 billion on coal and natural gas power generation this year, exceeding China’s investment by $3 billion. This marks the first time in decades US spending on these fuels outpaces China’s.
The surge is fueled by rising demand for gas turbines, particularly from data centers. Prior years saw China dominate investment in fossil fuel power, but shifting energy needs in the US are reshaping spending patterns.
No immediate market reaction was detailed, though the shift may influence energy sector valuations and commodity prices.