President Trump signed an agreement Wednesday with major technology companies aimed at addressing electricity costs associated with data center operations as artificial intelligence development continues to expand.

The agreement, called the "Ratepayer Protection Pledge," involves Google, Microsoft, Meta, Oracle, xAI, OpenAI, and Amazon, according to the White House. The companies have committed to covering the cost of electricity they consume for their data center operations.

The signing ceremony took place at the White House on Wednesday, with tech executives joining Trump for the announcement. The agreement comes as AI development has led to increased energy demands from data centers that power machine learning systems and cloud computing services.

The pledge is designed to prevent electricity rate increases for consumers that could result from the growing power requirements of tech companies' data center infrastructure. As AI technology has advanced rapidly, data centers have become increasingly energy-intensive operations.

The agreement addresses concerns about how the expansion of AI and cloud computing infrastructure might impact electricity costs for households and other consumers who share the same power grids as major data centers.