Tech companies investing in renewable energy

PARAGRAPH 1 --- What happened: Tech giants Microsoft and Google have recently secured long-term renewable energy deals to power their data centers. Microsoft signed a 20-year agreement with Chevron for a new AI-focused campus in West Texas, while Google locked in a 15-year, 200 MW solar deal with Enlight in Oklahoma. Meanwhile, the world's first wind-powered underwater data center has started operating in China.

PARAGRAPH 2 --- Market impact: These deals indicate a growing trend among tech companies to secure reliable, clean energy sources, driving growth in the renewable energy sector. Data centers, despite their environmental challenges, are fueling clean energy adoption. However, the increasing demand for energy from AI and data processing could pose climate-related risks.

PARAGRAPH 3 --- What to watch next: Keep an eye on Google's and Microsoft's Q2 earnings (both in late April) for updates on their data center expansions and energy strategies. Additionally, monitor the U.S. clean energy sector's growth trajectory as more tech companies potentially follow suit in securing renewable energy deals.