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France’s EDF Identifies Land for Data Centers to Boost AI Infrastructure

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France’s state-owned utility, EDF, announced on Monday that it has identified four sites on its land for the development of data centers. This move is part of EDF’s strategy to expedite investments in power-hungry digital infrastructure, particularly as the country hosts a summit on artificial intelligence (AI) with political and business leaders discussing the emerging technology.

As a leading producer of nuclear energy, EDF is positioning nuclear power as a clean and reliable energy source for these data centers. The four identified sites are strategically located with available grid connections, offering a combined total power capacity of 2 gigawatts (GW). EDF is also in the process of searching for two additional sites to meet growing demand.

EDF’s initiative includes providing personalized support to digital companies wishing to develop data center projects, guiding them through the necessary steps to complete their projects. Last year, EDF executives revealed that the utility was in discussions with three companies about powering 1 GW data center projects in France. However, there were concerns that grid connections could delay the launch of some projects.

Nokia Appoints Intel’s Justin Hotard as New CEO, Replacing Pekka Lundmark

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Finnish telecommunications company Nokia (NOKIA.HE) announced on Monday that its current CEO, Pekka Lundmark, will step down, with Justin Hotard appointed as his successor. Hotard, who is currently the executive vice president and general manager of the Data Center & AI Group at Intel (INTC.O), will officially take on the role of Nokia’s CEO on April 1.

Telecom equipment manufacturers, including Nokia, have faced declining sales of 5G equipment and are looking to diversify into growing sectors like artificial intelligence (AI). Hotard’s extensive experience in AI and data centers makes him well-suited to lead Nokia’s next phase of growth. Nokia’s Chair Sari Baldauf praised Hotard’s track record of accelerating growth in tech companies and highlighted his expertise as key to Nokia’s future.

The announcement took the market by surprise, with JPMorgan analysts noting that Lundmark had been successful in stabilizing the company. However, they also recognized that the appointment of a new CEO indicated a shift in Nokia’s strategic direction, particularly with a focus on AI and data centers.

Analysts at Inderes echoed this view, noting the leadership change aligns with Nokia’s growing emphasis on its Network Infrastructure unit, which includes investments in AI and data centers. Last year, Nokia moved to acquire U.S. optical networking firm Infinera (INFN.O) in a $2.3 billion deal, aiming to capitalize on the expanding AI-driven data center market.

Lundmark, who has been CEO since 2020, will remain as an advisor to Hotard until the end of the year. The leadership transition had been in planning for some time, according to Nokia, after Lundmark expressed interest in moving on when the company’s repositioning efforts were more advanced.

Shares of Nokia rose 1.6% following the announcement, reflecting optimism about Hotard’s appointment. Despite a 27.85% increase in stock price over the past year, Nokia’s shares are still down more than 90% from their peak in June 2000.

Energy Transfer Signs Long-Term Natural Gas Supply Deal with CloudBurst

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Energy Transfer (ET.N), a leading U.S. pipeline operator, announced a long-term natural gas supply agreement with CloudBurst Data Centers, a private company based in Denver. This deal focuses on supporting the development of CloudBurst’s data center in Central Texas. Shares of Energy Transfer rose by 2.1% following the announcement.

As power demands from AI continue to rise and grid infrastructure advances slowly, many data centers are seeking more direct energy sources, bypassing traditional utilities. This shift is expected to significantly increase natural gas consumption in the coming years.

Under the agreement, Energy Transfer will supply up to 450,000 million British thermal units (MMBtu) of firm natural gas daily through its Oasis Pipeline to CloudBurst’s campus near San Marcos, Texas. The supply is contingent upon CloudBurst making a final investment decision (FID) with its customer. The natural gas will be used to generate nearly 1.2 gigawatts of electric power for the data center’s operations, with the supply set to continue for at least 10 years starting with Phase 1 of the project.

This agreement marks Energy Transfer’s first commercial arrangement to directly supply natural gas to a data center. RBC Capital Markets analyst Elvira Scotto viewed the deal as a promising step for midstream companies looking to expand into the AI and data center sectors.

CloudBurst is expected to make its FID later this year, with the facility potentially becoming operational by the third quarter of 2026.