Big Oilfield Services Shift: Embracing AI and Data Centers
Oilfield service giants SLB, Halliburton, and Baker Hughes are pivoting to data centers and AI infrastructure to counter slowing drilling demand. As U.S. oil exploration budgets shrink, these companies are now focused on delivering power equipment and data solutions, spearheading a new phase of growth amid the AI boom.
In a strategic pivot, major oilfield service providers SLB, Halliburton, and Baker Hughes are exploring new revenue streams by investing in data centers and AI infrastructure. This move comes amid declining drilling demand in North America and reducing exploration budgets in the face of stagnant oil prices considering the influence of OPEC and its allies.
As the demand for power generation grows, these industry leaders are seizing opportunities by offering solutions for computing power and electricity. Particularly, Baker Hughes is capitalizing on its Industrial & Energy Technology division, amassing significant new orders and expanding its presence in hyperscale data centers. Meanwhile, Halliburton is leveraging its partnership with VoltaGrid to support AI data centers, marking a promising growth path.
SLB's newly launched standalone Digital Division is experiencing rapid growth, focusing on cloud and AI solutions. This division is expanding its digital infrastructure offerings for hyperscalers, showcasing a robust increase in its data-center solutions. This shift emphasizes a critical transformation within the oilfield services sector toward digital and renewable energies.
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