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"Speed to market for some data centers matters," the analysts told clients in a Thursday research note. This should provide opportunities for companies that can provide on-site solutions that allow data centers to skip the interconnection line, they said. BTIG recommends Bloom Energy , Core Scientific and FTAI Infrastructure as ways to play the power shortage theme. Bloom can provide energy through on-site fuel cells that run on natural gas or hydrogen. Core Scientific is a Bitcoin miner that is diversifying into data centers.
Persons: Gregory Lewis, BTIG, FTAI Organizations: Bloom Energy, Core, FTAI, Intel Locations: California
Skyscrapers are without electricity up to 12 hours a day. Neighborhoods are filled with the roar of gas generators installed by cafes and restaurants. In recent months, Russian missile and drone attacks on Ukraine’s power plants and substations have left the country’s energy infrastructure severely hobbled. To make matters worse, two nuclear power plant units are scheduled for repairs this week, and summer temperatures are expected to prompt people to turn on their air-conditioners. As a result, the Ukrainian authorities have ordered nationwide rolling blackouts for this week, a more aggressive measure than the regional and irregular power cuts that parts of the country had been experiencing earlier this spring.
Organizations: Russian Locations: Ukraine
Electric cars are more expensive than gasoline models largely because batteries cost so much. But new technology could turn those pricey devices into an asset, giving owners benefits like reduced utility bills, lower lease payments or free parking. Automakers would make money by serving as intermediaries between car owners and power suppliers. Millions of cars could be thought of as a huge energy system that, for the first time, will be connected to another enormous energy system, the electrical grid, said Matthias Preindl, an associate professor of power electronic systems at Columbia University. “They will interact more in the future, and they can potentially support one another — or stress one another.”
Persons: Matthias Preindl, “ We’re, Preindl, , Organizations: Ford Motor, General Motors, BMW, Columbia University
Dividend investing has always been a part of Nancy Tengler's career, which has spanned more than 40 years. She also looks at relative dividend yield, or the yield on the stock relative to its own history and the market, she explained. "It's really because of the power of the compounding of the dividend and the dividend growth." The tech giant authorized its first-ever dividend in April, so it does not have a history of dividend growth. "This is a name that's undervalued in many ways and they've kind of grown up as a company," Tengler said.
Persons: Nancy Tengler's, Tengler, Stephen Squeri, Z, Squeri, CNBC's Jim Cramer, Gen Zs, David Gitlin Organizations: Tengler Investments, Walmart, American Express, Carrier Global, Carrier
Ethan Liebross went for a less common housing option: He lives full-time in a van — a 2015 Ford Transit that he turned into a mobile, off-grid home. Ethan LiebrossAlthough he grew up on a farm in New Jersey, he's no stranger to van life. AdvertisementDuring his gap year, he had lived out of another van while working as a freelance writer for local newspapers. "So I decided to convert a little camper van — a Ford Transit Connect — and I traveled around the US." "We worked together on the weekends or when he came home from work," Liebross said.
Persons: , Ethan Liebross, he's, Liebross, he'd, who's, He's, I'd, I'm Organizations: Service, Ford Transit, Business, Ford Transit Connect, Facebook Locations: New Jersey, California
Read previewSam Mitchell, 64, has a yearly income of below $30,000 a year from Social Security. It's a very different way of life from the corporate real estate job he had 15 years ago in Austin making six figures and owning five homes. "I am making a fourth of the money I was making in 2008, but nobody is going to do it." AdvertisementMoving to New York and FloridaTo start life anew, he bought a farm in Peru and built a small house. AdvertisementOnce Social Security payments kicked in, he relied on the $900 a month to get by.
Persons: , Sam Mitchell, they're, Mitchell, It's, Keller Williams, Austin, Sancho Panza, he's Organizations: Service, Social Security, Business, Social, University of Florida, South, Southwest, Austin City, Austin Locations: New York, Florida, Austin, Ithaca , New York, Atlanta, Santa Cruz , California, Costa Rica, South Austin, Peru, Ecuador, California , Oregon, Washington, BestBuy
Cane-swinging union workers were also seen in photos circulating on social media Monday ordering personnel of the country’s tax agency out of their offices. This strike comes after failed negotiations with the government to raise the federal minimum wage. The unions’ demands include raising the minimum wage from 30,000 naira ($22.4) to 494,000 naira ($369.6). Despite being Africa’s fourth-largest economy, Nigeria’s minimum wage is not among the continent’s top ten, lagging far behind countries like Seychelles, where workers receive a minimum wage of $465.4 monthly. 30k or 60k minimum wage in 2024 Nigeria is unsustainable and unacceptable,” wrote lawyer Festus Ogun in a post on X.
Persons: Bayo Onanuga, Onanuga, Olusina Ajidahun, “ I’m, , Lateef Fagbemi, Festus Ogun, Dipo Awojide, Bola Tinubu’s, Ajuri Ngelale Organizations: CNN, Transmission Company, Nigeria, Nigerian Labor Congress, Trade Union Congress, TUC, TCN, Health, Healthcare, Nigerian, Onanuga, NLC Locations: Nigeria, Seychelles, Lagos, Abuja, Nigerian
Although recent reports suggest the plans have been scaled back, the 2.4km still due to be built will be the largest linear city in existence if it is completed. The Spanish architect Arturo Soria is widely credited with designing the first linear city, "La Ciudad Lineal," in 1882 on the outskirts of Madrid. "Linear cities are an extreme form of urban dispersal — community development and social cohesion still need centrality," Gold told BI. A linear city may not have this capability," explained Lovgreen. In my opinion, linear city schemes are best left as design exercises for third-year architectural students," Gold said.
Persons: , Arturo Soria, Le Corbusier, Mikhail Okhitovich, Mona Lovgreen, Lovgreen, Adhya, Bland, I'm, John Gold Organizations: Service, Business, Lawrence Technological University, Ciudad, Oxford Brookes University Locations: Saudi Arabia, Spanish, Madrid, Swiss, French, Magnitogorsk, Neom, Paris, Portland, Saudi, NEOM, Tabuk Province
Many of us focused on the problem of climate change have been waiting for the day when renewable energy would become cheaper than fossil fuels. Well, we’re there: Solar and wind power are less expensive than oil, gas and coal in many places and are saving our economy billions of dollars. In the United States alone, the amount of solar and wind energy capacity waiting to be built and connected to the grid is 18 times the amount of natural gas power capacity in the queue. Instead, fossil fuel interests — including think tanks, trade associations and dark money groups — are often preventing the market from shifting to the lowest cost energy. Similar to other industries from tobacco to banking to pharmaceuticals, oil and gas interests use tactics like lobbying and manufacturing “grass-roots” support to maximize profits.
Persons: it’s Organizations: Tobacco Locations: United States
The center, a division of the National Weather Service, issued a modern geomagnetic storm watch, known as a G2, for Friday and Saturday. Unlike the G5, or extreme geomagnetic storm, that occurred on May 10, moderate storm watches are not uncommon, according to the center. But the aurora-causing solar flares and coronal mass ejections currently spewing from the sun are a result of the same sunspots that triggered solar activity in May, according to Dr. Ryan French, solar physicist at the National Solar Observatory in Boulder, Colorado. “The frequency of things is decreasing, but you only need one to cause a large geomagnetic storm. The solar storm on May 10 was the most successfully mitigated space weather storm in history, Dahl said.
Persons: Ryan French, Lokman Vural, “ It’s, , Shawn Dahl, Dahl, ” Dahl, , That’s, there’s Organizations: CNN, United, National Oceanic, Prediction, National Weather Service, Anadolu Agency, Getty, Solar Dynamics, auroras, , European Space Agency Locations: United States, Midwest, New York, Idaho, Boulder , Colorado, Rochester , New York, Sweden, South Africa
"We're now at a really transitional moment, with an inflection point for this company," Stroll told CNBC. Aston Martin has overhauled and improved manufacturing, shored up its financials to make investments in the future, and is now launching a fleet of new products defined by high-performance and luxury finishes. Aston Martin has teased a new super-powered V-12, expected to be called Vanquish, later this year. The $800,000 Aston Martin hybrid Valhalla. Courtesy: Aston Martin
Persons: Aston Martin, Lawrence, We're, James Bond, Aston, Aston Martin F1 Team Lawrence, Frederic Vasseur, Chris Graythen, It's Organizations: CNBC, Aston, Aston Martin F1 Team, Ferrari Team, of Miami, Miami, Autodrome, Aston Martin Locations: British, Miami , Florida
Why there's a massive copper shortage
  + stars: | 2024-05-31 | by ( Shawn Baldwin | ) www.cnbc.com   time to read: +1 min
Demand for copper is surging. The red metal, considered a barometer for economic health, is a vital component for the construction and defense industries as well as a key component in electric cars, wind turbines and the power grid. Existing mines and projects under construction will meet only 80% of copper needs by 2030, according to the International Energy Agency. "High-grade economic copper resources are not abundant, these things aren't all over the place, you have to go find them," said Chris LaFemina, global metals and mining analyst at Jefferies. To look at the challenges facing copper producers, CNBC got a behind the scenes look at Rio Tinto's Kennecott mining operation outside of Salt Lake City.
Persons: Chris LaFemina Organizations: International Energy Agency, Jefferies, CNBC Locations: Rio, Salt Lake City
The artificial intelligence boom is fueling demand for power, with many tech companies rapidly developing infrastructure as they compete for dominance. Data centers house vast amounts of computing power needed for AI workloads, and are intense power-guzzling workhorses. But the need for power goes beyond data centers and other infrastructure, according to Goldman. Goldman cited studies which showed that AI data centers can consume up to 10 times the energy of their regular counterparts. Taiwan's tech industry extends across a "comprehensive global AI supply chain," with tech manufacturers consuming a "substantial" amount of power.
Persons: Goldman, — CNBC's Michael Bloom Locations: Asia, China, Taiwan, South Korea, India, South Korea's, Power, Australia
Sign up here to find us in your inbox once a month, and to receive our weekly T List newsletter. Roughly halfway between São Paulo and Rio de Janeiro, the coastal town of Paraty (population 45,000) isn’t the easiest place to reach. It’s that relative seclusion that keeps the tourist hordes and unbridled development at bay, despite the town’s obvious appeal. African slaves not only worked in the mines but built much of the town’s early infrastructure, such as its roads. At the end of the 19th century, Santos, 190 miles to the south, supplanted Paraty as the country’s primary coffee-exporting port, and the town began to languish.
Persons: São, Luana Assunção, , Dom João, “ You’ll Organizations: São Paulo, Free Walker Tours Locations: tlist@nytimes.com, Rio de Janeiro, Paraty, Costa Verde, Ilha Grande, CHEE, Minas Gerais, Santos, , Rio, Orleans
GE Vernova is gaining momentum a month after launching as a standalone company, wielding assets that analysts say put the General Electric spinoff in prime position to benefit from the energy transition. GEV 1M mountain GE Vernova, 1 month "Through its robust portfolio of equipment and service offerings, we believe GE Vernova is in prime position to benefit from the 'Energy Transition Trifecta,'" Morgan Stanley analysts Andrew Percoco and Asmita Baskar told clients in a research note this month. Gas is the "bread and butter" of GE Vernova's business, said Maheep Mandloi, director of clean energy research at Mizuho Securities. There is an expectation that increased utilization of gas assets due to rising power demand will benefit GE Vernova's services business, Mandloi said. GE Vernova has reaffirmed its 2024 guidance of $34 billion to $35 billion in revenue.
Persons: Morgan Stanley, Andrew Percoco, Asmita Baskar, Goldman Sachs, Maheep Mandloi, GE Vernova, Scott Strazik, Mandloi, Mizuho, Baskar Organizations: GE Vernova, General Electric, GE, New York Stock Exchange, Investors, Mizuho Securities
Clean energy stocks may be underperforming in the public market, but there is still great appetite for companies focused on decarbonization in private markets — with Clean Energy Ventures' new fund serving as the latest example. The climate tech firm said Wednesday that it raised $305 million for its second fund, five years after closing its first fund. This latest fund was oversubscribed — the initial target stood at $200 million — but interest from limited partners including The Grantham Foundation, Builders Vision and Carbon Equity led to a higher raise. The firm is already putting the new money to work, focusing on technologies that go beyond the traditional green investments of solar and wind. Co-founder and managing partner Daniel Goldman identified industrial decarbonization as one compelling vertical — specifically emissions-reducing technology for the cement and steel industries.
Persons: Daniel Goldman Organizations: Clean Energy Ventures, The Grantham Foundation, Builders Vision, Carbon Equity, CNBC
New Delhi recorded its highest temperature ever measured on Wednesday — 126 degrees Fahrenheit, or 52.3 degrees Celsius — leaving residents of the Indian capital sweltering in a heat wave that has kept temperatures in several Indian states well above 110 degrees for weeks. In New Delhi, where walking out of the house felt like walking into an oven, officials feared that the electricity grid was being overwhelmed and that the city’s water supply might need rationing. The past 12 months have been the planet’s hottest ever recorded, and cities like Miami are experiencing extreme heat even before the arrival of summer. Scientists said this week that the average person on Earth had experienced 26 more days of abnormally high temperatures in the past year than would have been the case without human-induced climate change.
Locations: Delhi, sweltering, New Delhi, Miami
Storms unloaded hurricane-force wind gusts across the Dallas area, with Dallas Fort Worth International Airport recording a wind gust of 77 mph early Tuesday as power outages in the area started to skyrocket. KTVTThe power outages started to ramp up early Tuesday morning in the Dallas area, then extended south with the storms as they roared across the state, according to PowerOutage.us. Large hail, lightning and wind gusts as strong as 80 mph are the main threats with any storm. Dallas is the second major Texas city to have critical power infrastructure damaged by severe weather in less than two weeks. Storm damage is seen in the Dallas-Fort Worth, Texas, area on May 28, 2024.
Persons: Houston’s George, Storms, Clay Jenkins, Grant Cruise, Oncor, , ” Cruise, it’s, Jenkins, Andy Rose Organizations: CNN, Dallas Fort Worth International, Dallas, Houston’s George Bush Intercontinental, White House, National Weather Service, Sunday, Houston, , Dallas County, Texans Locations: Texas, Dallas, Houston, Terrell , Texas, PowerOutage.us, Dallas County, Louisiana, Oklahoma, Fort Worth, Harris County, Fort Worth , Texas
Instead, it's drawing a feed of blistering, high-pressure, vaporized water from a century-old loop of steam pipes that runs beneath the city's streets. Like dozens of cities, New York has a loop of steam pipes under its streets that could help reverse the urban doom loop. Lindsey Nicholson/UCG/Universal Images Group via Getty ImagesIn July, Vicinity is installing what will be the nation's first zero-carbon urban steam loop. AdvertisementThe most convincing evidence that steam loops make economic sense comes from who's getting into the district-energy game. Meaning: Can we use steam loops to fix the urban doom loop before the climate doom loop dooms us all?
Persons: I've, Nobody, Francisco, Kevin Hagerty, Lindsey Nicholson, Blake Ellis, Burns, McDonnell, Tim Danz, it's, Danz, Hagerty, Decarbonizing, COVID, Costa Samaras, They'll, Adam Rogers Organizations: California, Vicinity Energy, Getty, Cal, Antin Infrastructure Partners, KKR, Scott Institute for Energy, Innovation, Carnegie Mellon, Business Locations: Francisco, California, New York City, Boston, Washington, New York, England, Chicago, Miami, San Diego, Portland, Milwaukee
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Persons: we've, you'll, you've, fryer, Braun, Fryer, Ninja's, Ninja, Crisp, Pick, It’s, Max, Casper, Pillow, Topper, Allbirds Organizations: Business, Apple, Day, Samsung, Walmart, Samsung TV, Amazon Sony, Amazon Samsung, Amazon, DreamCloud Sealy, Amazon ., Shop, Ninja, Sony, JBL Bluetooth, Amazon Beats, Amazon Apple, JBL, Haven, Elm, Flyers Locations: Brooklyn, France, Chewy
Bederson, system chair for the Department of Neurosurgery at Mount Sinai Health System, is no stranger to long hours in an operating room. In fact, it marked the 14th time that the company has placed its array on a human patient's brain. Four of Precision's arrays were carefully laid out on a table nearby. Using a pair of yellow tweezers called long bayonet forceps, Bederson began placing all four of Precision's electrode arrays onto the patient's brain. Real-time renderings of the patient's brain activity swept across Precision's monitors in the operating room.
Persons: Joshua Bederson, Ashley Capoot, Bederson, Elon Musk, Stephanie Rider, Ignacio Saez, Saez, Bederson's, Benjamin Rapoport, Precision's, Ashley Capoot Bederson, Precision's Rapoport, Rapoport, Ashley Capoot Rapoport, Thomas Oxley, Synchron Organizations: Sinai, Neurosurgery, Sinai Health, CNBC, Neuroscience, BCI, Tesla, SpaceX, Icahn School of Medicine, U.S . Food, Drug Administration, Mount, Mount Sinai, Precision Neuroscience, Weill Cornell Medicine, Wall Locations: New York City, Mount Sinai, U.S, Mount, Synchron
The homes at Hunters Point, which start at $1.4 million, have already withstood two hurricanes. "We built these homes to be able to deal with the climate crisis," said developer Marshall Gobuty. One solution, said real-estate developer Marshall Gobuty, is to build more resilient homes. "People say they build to code, and my answer is 'Great,'" he told Business Insider. This story is available exclusively to Business Insider subscribers.
Persons: Marshall Gobuty, skyrocketing Organizations: Service, Business Locations: Florida
The growing need to feed power-hungry artificial intelligence models could benefit an under-the-radar power management stock, according to Wall Street analysts. Last year, Eaton also said that data centers and IT accounted for 14% of revenues. Ahead of Eaton's quarterly print, Bank of America analyst Andrew Obin highlighted the stock as a "pure-play electrical equipment" with high-growth businesses beyond data centers. "While data center remains the strongest end market, it seems that other end markets (residential, distributed IT) improved more than expectations to drive beats," he wrote. Elsewhere, Mizuho's Brett Linzey highlighted Eaton's "extended revenue visibility" given its "mega projects" aimed at meeting reshoring and data center needs.
Persons: Eaton, Craig Arnold, Andrew Obin, Mizuho's Brett Linzey Organizations: Wall Street, Bank of America, ETN Locations: Eaton, U.S
China has made a lot of solar panels, dramatically lowering prices and helping the country's clean-energy transition. The problem is that Chinese manufacturers seem to have made too many solar panels, according to the US, the European Union, and their allies. China's facing its own overproduction problem at home following a breakneck pace of growth in solar energy — one key pillar of the country's "new three" economic drivers. Germany's energy prices are under pressure from too much solar energyIt's not just China getting hit by an excess of solar energy. Germany, too, has been producing so much solar energy that energy prices have fallen into negative territory when output peaks.
Persons: They're, Joe Biden, David Fishman Organizations: Service, European Union, Business, Reuters, Bloomberg, West, Longi Green Energy Technology, China Photovoltaic Industry Association, Lantau Group Locations: China, Beijing, overcapacity, Germany, that's
How the super rich party at the Monaco Grand Prix
  + stars: | 2024-05-24 | by ( Susan Griffin | ) edition.cnn.com   time to read: +8 min
British driver Lewis Hamilton of Mercedes looks walks the drivers parade before the Formula 1 Grand Prix at the Circuit de Monaco on May 28, 2023. Here, designer stores, supercars, multi-million-dollar yachts and astronomically priced restaurants are ‘la norme’, but during the three-day Grand Prix, the eye-watering ostentation increases three-fold. Amber Lounge might be one of the most exclusive and expensive events taking place during the Monaco Grand Prix weekend, but Monte Carlo itself is a veritable party hub. “As a former resident, I can tell you there are two sides to the F1 Grand Prix arriving in Monaco. Fans watch the action during qualifying at the F1 Monaco Grand Prix.
Persons: , Tom Holland, Lewis Hamilton, Mercedes, Dan Mullan, revel, Cipriani, Sass Café, Max Verstappen, Justin Bieber, Kim Kardashian, Kylie Minogue, Prince Albert of Monaco, Eddie Irvine’s, Sonia, Amber, Lauren Green, Joash Lee, partygoers, Jax Jones, Monte, Bruce Bundrant, ” Bundrant, Ryan Pierse, Green, Organizations: CNN, Monaco, Prix, Circuit, Getty, Business Development, AS Monaco FC, Locations: Monte Carlo, British, Fairmont, Hôtel Hermitage, Hôtel, Paris, Le Meridien, Monaco, Singapore, Las Vegas, Abu Dhabi
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