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AI Boom, Energy Risks Shape M&A, Morgan Stanley’s Miles Says

Companies are pushing ahead with acquisitions despite geopolitical uncertainty, volatile energy markets and the uneven effects from the rise of artificial intelligence, Morgan Stanley’s Tom Miles said in a Bloomberg TV interview.

Cabinets housing servers inside a data hall at a NextDC Ltd. data center in Sydney, Australia, on Monday, Dec. 8, 2025. OpenAI partnered with Australian data center operator NextDC to build a A$7 billion ($4.6 billion) large-scale computing cluster in Sydney, accelerating its expansion in the Asia-Pacific region.
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Microsoft in Talks With Chevron, Engine No. 1 Over $7 Billion Texas Power Plant

Microsoft Corp. is in exclusive talks with Chevron Corp. and investment fund Engine No. 1 over a long-term deal that would underpin a giant power plant in West Texas, providing electricity to a large data center campus.

A Microsoft store in New York, US, on Tuesday, July 22, 2025. Microsoft Corp. accused Chinese state-sponsored hackers of using flaws in its SharePoint document management software in a hacking campaign that has targeted businesses and government agencies around the world. Photographer: Adam Gray/Bloomberg
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