Michael Whatley, the Republican nominee for U.S. Senate in North Carolina and former chair of the Republican National Committee, holds between $246,000 and $690,000 in energy investments with companies directly linked to the data center growth sector in the state. According to federal financial disclosures, these holdings include stakes in major utilities and equipment suppliers that facilitate the expansion of data centers, an issue that has sparked national debate over zoning, energy consumption, and state economic development.
The investments, which include significant positions in Duke Energy, Dominion Energy, and GE Vernova, place Whatley in a position where he stands to benefit financially from the very industry he supports politically. While some of these companies do not build data centers themselves, they provide essential services and products, such as gas turbines and grid equipment, used by major tech firms like Amazon and Microsoft. The disclosure also reveals that Whatley received $361,000 in consulting fees from CAPCVentures LLC in 2025, a firm that lists GE Vernova as a client.
What the Right Is Saying
Whatley’s campaign defended his investments by highlighting his support for ethical reforms and local control. DJ Griffin, a campaign spokesperson, noted that Whatley supports the Stop Insider Trading Act and advocates for elected officials to place assets in qualified blind trusts. Regarding policy, the campaign asserted that Whatley’s standard is that “data centers pay their own way, families pay nothing and communities decide.” They argued that Big Tech should cover all grid upgrade costs with no subsidies or special deals for taxpayers, and that local counties and towns should determine which projects are built in their communities.
What the Left Is Saying
The campaign for Democratic opponent Roy Cooper, the former governor of North Carolina, has criticized Whatley’s financial ties, arguing that his background as a utility lobbyist has made him insensitive to local concerns regarding data center expansion. A spokesperson for the Cooper campaign stated that Whatley “believes people’s concerns about data centers are fake” and accused him of “shilling for his billionaire buddies in the utility industry” rather than opposing rate hikes that affect working families. The campaign emphasizes that Cooper has taken a more critical approach to the rapid expansion of these facilities.
What the Numbers Show
Federal disclosures indicate Whatley’s holdings include between $149,000 and $410,000 in Duke Energy, $1,000 to $15,000 in Arista Networks, $80,000 to $200,000 in Dominion Energy, and $16,000 to $65,000 in GE Vernova. In addition to these equities, Whatley reported $361,000 in consulting income from CAPCVentures LLC in 2025, with previous coverage noting approximately $755,000 from the same firm between 2022 and 2025. On the policy side, North Carolina implemented statute G.S.105-164.13 in 2016, expanding tax exemptions for data centers investing at least $75 million. During Cooper’s tenure, the state approved Job Development Investment Grants (JDIGs), including a $845 million grant to Apple, though the company has not yet met the projected job creation goals associated with the agreement.
The Bottom Line
The financial disclosures in the North Carolina Senate race highlight the intersection of personal wealth and public policy in the rapidly growing data center industry. As both candidates position themselves on issues of energy costs, local control, and economic incentives, the debate centers on who benefits from the infrastructure boom and who bears the costs. Voters will likely weigh the candidates' proposed regulatory frameworks against their financial ties to the industry, with the outcome potentially influencing state-level approaches to Big Tech’s expansion in the coming years.