NextEra Energy and Duke Energy have entered into an all-stock merger agreement, uniting two leading electric power companies to jointly address the rapidly escalating electricity demands of artificial intelligence data centers and computing infrastructure.

The companies jointly announced the merger on Monday, stating that the combined entity will become the world's largest regulated electric utility company. Upon completion of the transaction, NextEra Energy shareholders will own approximately 74.5% of the new company, with Duke Energy shareholders holding the remaining 25.5%.

Duke Energy, valued at over $50 billion, is responsible for powering Northern Virginia, a key global hub for top-tier data centers.

NextEra Energy, headquartered in Florida with a market capitalization exceeding $190 billion, is the leading renewable energy developer in the United States. It is also the largest utility company by market value within the S&P 500 index.

Despite its primary focus on renewable energy projects, NextEra significantly expanded its investments in natural gas during the previous Trump administration.

The company is also actively leading efforts to expand the U.S. nuclear energy sector. Last year, it partnered with Google on a project to restart the long-dormant Duane Arnold nuclear power plant in Iowa.