Oil-services giant Baker Hughes is making a significant foray into the emerging data-center business, investing $14 billion to be part of the Artificial Intelligence (AI) industry. The company outbid rival Flowserve, which had secured a merger agreement with Chart Industries.
Baker Hughes, founded in the Texas oil drilling industry, has expanded its focus to the AI sector. This move showcases an old-line industry company embracing the new world of artificial intelligence.
The details of this investment are available on MarketWatch, and existing subscribers can continue reading our article for further insights.
Source: https://www.marketwatch.com/story/this-oil-company-is-spending-14-billion-to-be-part-of-the-ai-data-center-business-b162139b