X-energy raises $ 700 million for nuclear reactor expansion projects in the US
X-energy, a developer of nuclear reactors, announced on Monday that it had completed a $700m financing round led Jane Street. The funding will be used to expand the company's supply chain and its commercial pipeline. After years of stagnation the U.S. Nuclear industry is experiencing a renaissance, driven primarily by the surging demand for power from so-called Hyperscalers who operate massive cloud computing infrastructure to manage increasing AI processing. AI is boosting U.S. electricity demand for the very first time in decades.
South Korea joins Stargate AI Data Centre Project in UAE
Seoul announced on Tuesday that South Korea had agreed to collaborate with the United Arab Emirates to build an artificial intelligence data campus, a project backed by the United States. South Korea announced that it would help build the computing power and energy infrastructure of the largest AI data centre outside the United States after South Korean president Lee Jae Myung met with UAE President Mohammed bin Zayed Al Nahyan. South Korea, the home of chipmakers Samsung Electronics…
RWE Reports Near 15-Year High Boosted by Data Center Sale
RWE, Germany's largest power producer, reported higher-than-expected profit for the first nine months of the year, boosted by a 225 million euro ($262 million) book gain on the sale of a data centre project to a large unnamed cloud service provider.Shares in RWE, which is also the world's second-biggest developer of offshore wind projects, rose as much as 7% to their highest level since March 2011. They were last trading 6.7% up.The sale of the facility…
Dow closes at record high; traders bet against government shutdown
The Dow Jones Industrial Average closed at a record-high on Tuesday. This was boosted by progress in ending the longest U.S. Government shutdown. Nvidia, and other companies related to artificial intelligence, fell due to renewed concerns over high valuations. The Polymarket betting platform has fully priced in a resolution for this week, as members of the U.S. House of Representatives returned to Washington, after a break of 53 days, for a possible vote that would end the government shutdown. "Expectations are the shutdown will be over.
Sponsored: Energy Sector Urged to Scale AI Adoption at ADIPEC
Day two's theme 'The Technology Leap: Redefining Energy Leadership' underscored how strategic AI adoption and digital innovation are reshaping energy leadership, with industry voices calling for coordinated investment to unlock transformation at speed and scale Experts debated AI’s role in boosting efficiency, enhancing resilience and unlocking investment while addressing the balance between AI’s potential and its impact on energy demand Key speakers included Jack Hidary CEO, SandboxAQ; Dr.
Nvidia joins India Deep Tech Alliance, adding new members and $850 million pledge
Nvidia joined Indian and U.S. Investors in supporting the deep-tech startups of South Asia on Wednesday. The group has added new members, and received more than $850 Million in capital commitments. The India Deep Tech Alliance has welcomed new investors including Qualcomm Ventures. Activate AI. InfoEdge Ventures. Chirate Ventures. In September, the program was launched with an initial $1 billion commitment to support industries like space, semiconductors and artificial intelligence.
Oilfield giants shift focus to AI infrastructure after drilling demand declines
SLB, Halliburton, and Baker Hughes, oilfield services giants in North America, are focusing on data centers and artificial intelligence infrastructure to fuel their next phase of expansion as they deal with a slowing drilling market and idle rigs. U.S. producers of oil have reduced exploration budgets, as the price of a barrel hovers in the low 60s, under pressure from rising production by the Organization of Petroleum Exporting Countries (OPEC) and its allies. Meanwhile, power demand has risen due to the surge of AI workloads.
Wall Street Journal, October 23,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. As frustration grows in Washington over the conflict in Ukraine, U.S. president Donald Trump announced new substantial sanctions against Russia's largest oil companies, Lukoil, and Rosneft. He also targeted nearly 30 of their subsidiaries. U.S. officials have confirmed that the Trump administration has lifted an important restriction on Ukraine using some long-range rockets provided by Western Allies.
Brookfield invests $5 billion in Bloom Energy to support fuel cells for AI data centers
Brookfield Asset Management announced on Monday that it would invest up to five billion dollars in Bloom Energy fuel cell technology for data centers. Companies are looking to cleaner energy sources to meet the demands of artificial intelligence. Bloom Energy shares were up 31% in premarket trading at $113.72. As they spend billions on building and expanding their data centers, companies are looking to clean power sources like nuclear, renewables, and fuel cells to meet the demand for AI, Cloud Computing, and digital services.
Chevron expands India Hub to boost AI and digital capabilities
Chevron India opened a 312,000 square foot facility for its Engineering and Innovation Excellence Center in Bengaluru on Thursday, a year and a half after launching this unit. The unit was launched to consolidate its technical work and enhance its digital and AI capabilities. India is playing a growing role in energy transition, as technology plays a central role in cost reduction and competition. The U.S. oil giant also targets cost savings of up to $3 billion by 2026, and streamlines its global operations.
Roundhill launches ETF for tracking meme stocks and retail investing trends
Roundhill Investments has relaunched a exchange-traded funds it closed two years ago. The fund is designed to track a constantly changing universe "meme" stock and the activities retail investors who love these stocks. The Roundhill Meme Stock ETF is a new actively managed fund that trades under the symbol MEME. It aims to capitalize on the trend that has periodically gripped U.S. traders since the pandemic when new retail investors began using social media platforms such as Reddit to discuss their investment theories and to share their top stock picks.
Trump cuts subsidies for US clean energy, bringing an end to the boom.
Bila Solar, a Singapore-based manufacturer of solar panels, has suspended plans to double the capacity of its new Indianapolis factory. Heliene, a Canadian competitor, is reviewing its plans to build a solar-cell facility in Minnesota. NorSun, a Norwegian manufacturer of solar wafers, is evaluating the feasibility of a planned facility in Tulsa. Two offshore wind farms that are fully permitted in the U.S. Northeast could never be built. The major clean energy investments are now under question, after Republicans agreed to end U.S.
Google signs $3 billion US Hydropower Deal in Largest Clean Energy Agreement
Google announced on Tuesday that it had agreed to purchase up to 3 gigawatts (or more) of hydroelectric power in the United States, forming the largest corporate clean energy pact ever for hydroelectricity. This comes as Big Tech continues its expansion of data centers, which are notoriously energy-hungry. The agreement between Google and Brookfield Asset Management includes initial power purchase agreements totaling $3 billion for electricity generated by two hydropower plants in Pennsylvania.
Google signs $3 billion US Hydropower Deal in Largest Clean Energy Agreement
Google announced on Tuesday that it had agreed to purchase up to 3 gigawatts (or more) of hydroelectric power in the United States, in what is the largest corporate clean energy pact ever made. This comes as Big Tech continues its expansion of data centers, which are notoriously energy-hungry. The agreement between Google and Brookfield Asset Management includes initial power purchase agreements totaling $3 billion for electricity generated by two hydropower plants in Pennsylvania.
NAACP threatens El Musk's xAI with a lawsuit over Memphis air pollution
The National Association for the Advancement of Colored People sent a letter to Elon Musk’s xAI on Tuesday, indicating its intention to file a lawsuit against the company for air pollution coming from the data center of the AI startup in Memphis. Southern Environmental Law Center sent the letter on behalf of NAACP. It alleges that xAI violated federal laws by using methane turbines in its South Memphis data centre without obtaining permits or "best-available" pollution controls.
Amazon will invest $13 billion over 5 years in Australia's Data Center Infrastructure
Amazon announced in a Saturday blog post that it will invest A$20 Billion ($12.97 Billion) between 2025 and 2029 in Australia to expand, maintain, and operate its data center infrastructure. This investment is expected to boost the country's artificial-intelligence capabilities. Amazon has made its largest technology investment in Australia. The funding will be used to support new server capacity, as well as generative AI workloads. It added that the company will also invest in three new solar farm in Victoria and Queensland.
German utility RWE announces partnership with tech giant Amazon
The German utility RWE announced on Thursday a strategic framework deal with tech giant Amazon, in which the utility will deliver clean energy and receive cloud services in exchange. Cloud services include artificial intelligence and data analysis in exchange for electricity provided by RWE's solar and wind facilities. Some of these are already operational and others are in construction. RWE, a major utility company in Europe, has a portfolio of…
Wall Street stocks finish flat after choppy trading, as Treasury yields decrease
U.S. stock prices finished Thursday little changed, erasing an initial decline, as Treasury yields eased from recent highs following the House of Representatives' passage of President Donald Trump’s tax and spending plan. Stocks were under pressure on Thursday as longer-dated Treasury yields dropped, which allowed stocks to breathe. After reaching its highest level since February, the benchmark U.S. 10 year note yield dropped 5.4 basis points to 4,543%.
Evergy's pipeline for power users such as data centers has jumped to 11,2 GW
Evergy Inc.'s pipeline of very large electricity clients, such as data centers, has increased to 11,2 gigawatts, which is more than its current maximum total demand. Evergy, a Midwestern company that covers Missouri and Kansas in the United States, has announced an increase of 8% on its capital spending plan for 2025-2029, to $17.5 billion. The demand for cloud computing and artificial intelligence has pushed up U.S. electricity consumption after a two-decade hiatus. This year, the country is expected to hit record levels.
Utility Public Service Enterprise raises its spending plan and forecasts a higher profit in 2025
Public Service Enterprise Group, a U.S. electric utility and gas company, forecasted a higher profit in 2025 compared to the previous year and increased its five-year plan for capital expenditures. Utilities are experiencing a surge in power demand as Big Tech invests billions of dollars in developing artificial intelligence technology and infrastructure to support it. PSEG expects to spend between $22,5 billion and $26 billion in the five years from 2025 to 2029. This is an increase of $3 billion over its previous plan.