Malaysian data centers consume more power in the face of high temperatures
Officials said that Malaysia's data centers are using more power as the temperatures rise. This leaves a gap of 9 gigawatts in gas-fired energy capacity for the government to fill by 2032. Siti Saffinah Salleh, CEO of the Energy Commission, said on Tuesday that data centres' share in total power consumption had risen to a new record of 9.3%…
Data centers are being built in Argentina's Patagonia, a region characterized by its windswept landscape.
Investors looking for mega data centers are increasingly interested in Argentina's Patagonia. They're attracted by its cool temperatures, renewable energies, shale-gas and vast stretches of empty land. While tech giants, known as hyperscalers, race around the world to?build servers farms and face roadblocks due to anti-data center campaigns…
Brazil environmental agency clears Petrobras to drill additional Foz do Amazonas wells
According to a document seen by us on Friday, Brazil's Ibama environmental agency authorized the state-owned oil company Petrobras drill three new deep wells in the Foz do Amazonas basin. Petrobras has made a recent oil discovery in an environmentally sensitive region off the coast of Brazil. The new wells will determine whether the?oil is commercially viable.
Brazil's eucalyptus sector faces uncertainty due to delayed curbs on the use of native wood fuel
A reforestation association said that an agreement to phase out the use of native forest wood in Brazil's corn-ethanol plants for energy production has been put on ice, creating uncertainty for investment?into eucalyptus?plantations. Otaviano Pivetta has put the agreement between the Mato Grosso state government and the local prosecutor on hold.
Anthropic abandoned its $7 billion MatX purchase, according to sources
Two?people who were briefed about the issue said that Anthropic had discussed purchasing artificial intelligence chip company MatX for around $7 billion. The goal was to speed up efforts to develop custom-made hardware for its rapidly growing AI business. The merger talks that a third party said…
Filings show that billionaire Peter Thiel has bought a 1% stake in the Argentine Vaca Muerta Oil firm.
According to a filing with the U.S. Securities and Exchange Commission, Peter Thiel, Palantir's chair and cofounder, has 'purchased' a 1% share in Argentina's Vista. Vista is 'one of the biggest oil companies' operating 'in Argentina's Vaca Muerta shale formation. The filing was published on Friday four months after Milei…
Brazil's Petrobras finds hydrocarbons in Foz do Amazonas basin
Petrobras, Brazil's state-run oil firm, announced on Friday that it had found hydrocarbons in an exploratory well located off the coast of the Atlantic Ocean near the Foz do Amazonas Basin. In a filing with the Securities and Exchange Commission, the company said that drilling operations are still underway in this environmentally sensitive area.
The financial week in five charts - Spiking yields; widening spreads; and a long cold winter
Every Friday, Open Interest distills the week's financial data into five charts that highlight the main trends, surprises and overlooked movements. 1. COST OF CREDITIBILITY JAMIE MCGEEVER, ROI Markets: On Wednesday, the 30-year Treasury yield soared to 5.20%, its highest level in almost two decades.
As El Nino threatens, hydropower plants in the south of Brazil prepare for heavy rainfall
Generators are reviewing their plans to deal with large volumes of water. Scientists believe that a severe El Nino will occur in the next few months. The Brazilian units of China Three Gorges and French Engie, two of the largest dam operators in Brazil, have said that they are preparing for a number of things…
Wall Street closes mixed as investors pay attention to tech earnings
Wall Street closed Monday with a?mixed bag, as investors awaited guidance for major technology companies during a busy quarter of quarterly earnings, and also worried that persistently high oil prices might force the Federal Reserve to raise interest rates. Microsoft, Amazon Meta, and Apple will report their quarterly results in the coming week.
Investors focus on tech earnings as S&P and Nasdaq drop
Wall Street fell on Monday as investors feared that "stubbornly" high oil prices would force the Federal Reserve into raising interest rates. They also awaited guidance for a busy week of quarterly earnings from major technology companies. Microsoft, Amazon Meta, and Apple will?report?quarterly results this week.
Palm oil reaches 15-week peak, posting third weekly gain
The price of Malaysian palm oil futures rose to a 15 week high on Friday. This was a result of a strong oil price and the rebound in Dalian palm olein futures. At the close, the benchmark palm oil contract on Bursa Derivatives Exchange for October delivery gained 13 ringgit or 0.28%. It was trading at 4,723 Ringgit ($1,155.33). Futures recorded a weekly gain of 2.74%.
Malaysia's fear of resources tests Asia's fastest-growing data centre
Malaysia, which has surpassed Singapore as the fastest-growing hub for data centres in the region, is now under increasing scrutiny due to the resource debate that's spreading to emerging Asia. The protests against a data center complex at the southern tip of Johor, the epicenter of the boom in the state, were the first ever of their kind to be held in the country.
Brazil could triple its palm planting area in 10 Years, Industry Leader Says
Victor 'Almeida said that Brazil could triple its palm oil production area in the next 10 years by expanding the cultivation of land already deforested in the Amazon. Almeida, in an interview, said that the demand for biofuels will?boost? growth in this sector. The expansion of the industry has been largely done on previously cleared land…
South Africa's 'data centre gold rush' could lead to a resource shortage
The rapid expansion of data centers has made South Africa the continent's largest digital hub. Critics warn that the industry's appetites for electricity and drinking water could worsen the shortages of millions of people. Cyril Ramaphosa, the president of South Africa, has praised the rapid growth…
Big Tech joins Calgary Stampede as Canada court data centers
Big Tech has joined in the Calgary Stampede party, showing a?growing? interest from hyperscalers based in the United States as Alberta pursues data center development. The annual energy gathering, which coincides with the famous city rodeo, is usually dominated by oil and gas companies. This year, U.S.
Big Tech joins Calgary Stampede as Canada courts data centers
Big Tech joined the party at the Calgary Stampede, an indication of the growing interest of hyperscalers based in the U.S. in?Canada as the province Alberta pursues data center development. The annual energy gathering, which coincides with the famous city rodeo, is usually dominated by oil and gas companies. This year, U.S.
US Energy Chief urges data center supporters to fight back against their opponents
Chris Wright, the U.S. Energy secretary, said that critics of data centers are "overblown" at a?Amazon Web Services event on Tuesday. Wright listed the concerns that opponents have raised regarding the boom of the facilities, including the use of water and electricity and that artificial intelligence will harm communities and take away jobs.
Maguire: The NextEra-Dominion AI deal is not the last.
AI isn't just a way to increase electricity demand, it also resets the minimum scale for power supply. The proposed tie up between NextEra Energy and Dominion looks less like an one-off deal and more like a model. The $67 billion merger of two U.S. companies into one of the?world's largest energy…
Bloomberg News reports that Microsoft may abandon its 2030 clean energy goal as AI increases power consumption.
Bloomberg 'News' reported on Wednesday that Microsoft may delay or abandon its 2030 goal to match its hourly electricity consumption with renewable energy. The report was based on people familiar with the matter. Microsoft's ambitious climate targets that were set before the AI age and ranked among…