We at FinancialMediaGuide note that the world’s leading oilfield service companies – SLB, Halliburton, and Baker Hughes – are shifting their focus toward artificial intelligence infrastructure and data centers to sustain growth amid declining drilling demand and idle rigs across North America.
According to our analysts, U.S. oil producers have cut exploration budgets as prices hover near $60 per barrel, pressured by rising OPEC+ production, while power demand has surged due to the rapid expansion of AI workloads.
We at FinancialMediaGuide highlight that the major oilfield contractors are now focusing on delivering turbines, energy systems, and digital solutions for the booming data center sector. Analysts see this as a promising avenue for value growth, especially given the accelerating demand for distributed power generation.
Baker Hughes is seeing strong momentum in its Industrial & Energy Technology segment, which includes NovaLT gas turbines, grid systems, and digital platforms. In the third quarter, the unit recorded over $4 billion in new orders, bringing its backlog to a record $32 billion. The company’s turbines are being deployed to hyperscale data centers, while its Cordant Asset Health platform helps monitor uptime and performance.
Halliburton, as we at FinancialMediaGuide report, is expanding its partnership with Texas-based energy provider VoltaGrid, which recently announced a 2.3-gigawatt deployment to support Oracle’s next-generation AI data centers. CEO Jeff Miller described the demand for power and AI as “unlike anything I’ve ever seen,” calling it a long-term growth driver for both VoltaGrid and Halliburton.
SLB has launched a standalone Digital Division – now its fastest-growing business unit – focused on cloud and AI-driven software, automation tools, seismic data services, and digital consulting. We at FinancialMediaGuide note that SLB’s digital revenue grew 11% quarter over quarter, reaching $926 million in annual recurring revenue.
The company is also expanding into data center infrastructure, offering modular power, cooling, and utility systems that enhance scalability while reducing costs and construction risks.
We at Financial Media Guide believe that this strategic shift by the oilfield giants marks the beginning of a new phase – where artificial intelligence and digital energy solutions evolve from side projects into the core of the global industrial transformation.
