AI Boom Drives Power Consolidation as NextEra Buys Dominion

NextEra Energy ( NEE ) announced Monday that it will acquire Dominion Energy ( D ) in a $66.8 billion all-stock transaction, creating the world's largest regulated electric utility and marking the biggest power-sector deal on record. The merger is a direct response to surging electricity demand driven by AI data centers, and signals that the power sector's consolidation may be getting started.