NextEra Energy Announces $67B Acquisition of Dominion Energy — Largest Utility Merger in US History, Driven by AI Data Center Power Demand

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NextEra Energy announced a $67 billion all-stock deal to acquire Dominion Energy on May 18, creating the world's largest utility and targeting 30 GW of new generation capacity for hyperscaler data centers by 2035. Dominion's service territory includes Northern Virginia's 'Data Center Alley' — the world's largest concentration of data centers. The deal structure ($76/share, 21% premium) signals that utility companies now view AI power demand as the primary driver of long-term value, not traditional residential/commercial load growth.