This Energy Stock Is Spiking Now; Its Exxon Deal Smells Like AI

Targa Resources (TRGP) shares jumped more than 7% after announcing a 20-year deal with Exxon Mobil to build three new natural gas processing plants in the Permian Basin, a move analysts say positions Targa to attract AI-driven power demand from hyperscalers. The stock rose above a flat base buy point at 280, with the deal seen as key to meeting surging electricity needs from data centers.

If Targa wanted to lure in hyperscaler customers, it just secured some tremendous bait. The energy stock is rising on news of a 20-year deal with Exxon for three new natural gas processing plants and related services in the Permian Basin. Targa Resources TRGP spiked more than 7%, jumping above a flat base buy point at 280 and an alternate… This Energy Stock Is Spiking Now; Its Exxon Deal Smells Like AI Copyright ©2026 Investor's Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8