Shares of power producers rose amid deal activity.

NextEra is reportedly seeking a $400 billion merger with Dominion to dominate booming AI-driven U.S. power demand.

NextEra, with a market value of just under $195 billion, is one of the largest power producers in the U.S.

The merger comes as utilities face pressure from increased manufacturing, electrification, and large load facilities such as data centers.

The $67-billion all-stock merger is a “no-brainer,” said NextEra CEO John Ketchum.