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Amazon Web Services is investing over $500 million in nuclear power, announcing three projects from Virginia to Washington State. Amazon is the latest large tech company to buy into nuclear power to fuel the growing demands from data centers. An estimated 70% of the world’s internet traffic travels through Data Center Alley each day. “Small modular nuclear reactors will play a critical role in positioning Virginia as a leading nuclear innovation hub,” said Virginia Gov. “Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace,” said X-energy CEO J. Clay Sell.

Persons: It’s, there’s, ”, Matthew Garman, Bob Blue, Glenn Youngkin, Youngkin, Garman, Ken Griffin, Clay Organizations: Amazon, Services, Washington State, AWS, Amazon’s, Dominion Energy, Nuclear, Google, Kairos, Constellation Energy, Microsoft, Dominion, Gov, Energy, Fund, Citadel, Ares Management Corporation, NGP, University of Michigan, Talen Energy, Susquehanna Steam Electric Locations: Virginia, Washington, Dominion’s, SMRs, ” Virginia, U.S, Northern Virginia, Loudon County, Washington State, Northwest, Maryland, Salem Township , Pennsylvania, Talen

☆ Amazon goes nuclear, to invest more than $500 million to develop small module reactors
▼ + stars: | 2024-10-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +5 min

Amazon Web Services is investing over $500 million in nuclear power, announcing three projects from Virginia to Washington State. Amazon is the latest large tech company to buy into nuclear power to fuel the growing demands from data centers. "Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace," said X-energy CEO J. Clay Sell. Last spring, AWS invested in a nuclear energy project with Talen Energy , signing an agreement to purchase nuclear power from the company's existing Susquehanna Steam Electric Station, a nuclear power station in Salem Township, Pennsylvania. AWS also purchased the adjacent, nuclear-powered data center campus from Talen for $650 million.

Persons: It's, there's, Matthew Garman, Bob Blue, Glenn Youngkin, Youngkin, Garman, Ken Griffin, Clay Sell Organizations: Amazon, Services, Washington State, AWS, Dominion Energy, Nuclear, Google, Kairos, Constellation Energy, Microsoft, Dominion, Gov, Energy, Fund, Citadel, Ares Management Corporation, NGP, University of Michigan, Talen Energy, Susquehanna Steam Electric Locations: Virginia, Washington, Dominion's, SMRs, U.S, Northern Virginia, Loudon County, Washington State, Northwest, Maryland, Salem Township , Pennsylvania, Talen

☆ How the world’s largest tech event is forging a future AI economy
▼ + stars: | 2024-10-15 | by ( ) edition.cnn.com time to read: +6 min

A next generation agendaGITEX GLOBAL will span 40 halls across two locations, bringing together the entire international technology community to set the global agenda for the future AI economy. With the global AI market projected to reach $2.7 trillion by 2032, the event will showcase the latest advancements driving this remarkable growth. GITEX GLOBAL 2024 AGENDA MONDAY: TECH INVESTMENT DAY - Explore the latest investment trends that are reshaping global wealth. In addition, the World Future Economy Digital Leaders Summit will see global innovators and influential leaders address critical priorities shaping the future of technology. By bringing together diverse stakeholders from across the globe, the event is poised to shape the future of the AI economy and reinforce Dubai’s vision of becoming a global tech hub.

Persons: Martin Pfeiffer, Fabrizio del Maffeo, Alexander Zhavoronkov, Dr, Diane Janosek, Brett Johnson, Ekaterina Serban, Surinder Organizations: Dubai World Trade, Dubai Harbour, TECH, Tech, Google, Huawei, IBM, Microsoft, Nvidia, Oracle, European NVIDIA, ”, InSilico, supercomputing, UAE Cybersecurity Council, TCB, National Security Agency, Pentagon, Bosch, Paramount Locations: Dubai, European, Hong Kong

☆ 'Let chaos reign': AI inference costs are about to plummet
▼ + stars: | 2024-10-14 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

All kinds of startups are rushing into the AI inference market. AdvertisementJared Quincy Davis and his AI computing startup Foundry sell inference. And cost in inference computing is even more important than in training, Groq cofounder Jonathan Ross recently told BI. In other words, "it turns out, when you make inference cheaper, people decide to do a lot more inference," Davis said. He agrees the next few years will be wildly competitive for inference providers, but he believes the winners will be decided on merit.

Persons: —, Jared Quincy Davis, Davis, Jonathan Ross, Mitesh Agrawal, Agrawal, it's, Jensen Huang, Davis isn't, Intel Andy Grove, Sriram Viswanathan, Viswanathan, Hugh Langley Organizations: Service, Foundry, SambaNova Systems, Lambda, Nvidia, Microsoft, Business, o1, Intel, Celesta Capital

☆ AMD just launched its new AI chip, but analysts say it's still a year behind Nvidia
▼ + stars: | 2024-10-11 | by ( Helen Li | ) www.businessinsider.com time to read: +3 min

AMD launched the Instinct MI325X accelerator on Thursday, and shipping starts later this fall. The new chip offers better performance than Nvidia's H200 yet lags behind Blackwell, analysts say. While the GPU significantly improved over AMD's previous offerings, Bernstein Research analysts wrote that it faces "zero challenge" against Nvidia's upcoming Blackwell chip. Nvidia announced in March the Blackwell series, which is set to ship in the fourth quarter of this year. Related stories"Training performance seems 1 year behind Blackwell (on par with H200) while inferencing is only slightly better," Arya wrote.

Persons: Blackwell, —, Lisa Su, it's, Vivek Arya, Arya, Bernstein, Su, EPYC, Intel's Organizations: AMD, Service, Nvidia, Industry, Bernstein Research, Nvidia's, Blackwell, Bank of America Securities, Intel Locations: Turin, Emerald Rapids

☆ Why the U.S. government is investigating Google
▼ + stars: | 2024-10-10 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +3 min

Google, the online search and digital ad goliath, is the first U.S. tech giant to land in federal court fighting antitrust concerns in decades. Google controls an estimated 88% of the market for general search online, according to the August opinion from Judge Mehta. And late in 2023, a jury delivered a guilty verdict against Google in a trial about business practices related to the Google Play app store. In September 2024, Epic filed an additional antitrust lawsuit against Google and Samsung, alleging that the company continued to use its monopoly power to unfairly harm competition. Watch the video above to see why the U.S. government is investigating Google.

Persons: Amit Mehta, Judge Mehta, Bing, Lee Hepner, Nikolas Guggenberger, Gene Munster Organizations: Google, U.S, District of Columbia, Justice Department, American Economic Liberties, Epic Games, Samsung, University of, Deepwater Asset Management, CNBC Locations: U.S

☆ Amazon is becoming Big Tech's king of cash, and Wall Street wants a piece of it
▼ + stars: | 2024-10-09 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Amazon's cash balance is expected to reach almost $400 billion by 2027, far outpacing tech rivals. AdvertisementAmazon's ballooning cash balance is drawing Wall Street's attention. By 2027, Amazon is forecast to have almost $400 billion in cash, far outpacing its Big Tech rivals. Despite the "remarkable" growth in Amazon's cash balance, the company hasn't been as aggressive as other tech companies in rewarding shareholders, he noted. During an April call with analysts, Amazon CFO Brian Olsavsky addressed the question about shareholder returns.

Persons: —, Wall, Mark Mahaney, Mahaney, Evercore's Mahaney, hasn't, Mark Shmulik, Bernstein, Morgan Stanley, Gene Munster, Munster, Andy Jassy's, Brian Olsavsky, Jassy, Olsavsky, Deepwater's Munster Organizations: Service, P Global Market Intelligence, Microsoft, Amazon, Big Tech, Apple, Deepwater Asset Management, Federal Trade Commission, Meta

☆ Exclusive: AI cloud startup Ori is in talks to raise up to $80 million in funding, sources say
▼ + stars: | 2024-10-08 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

AI cloud startup Ori is raising up to $80 million in new funding, two sources have told BI. AdvertisementAI cloud computing startup Ori is in talks to raise up to $80 million in a fresh funding round, two sources told Business Insider. Related storiesYahya added: "I was pleased to recently be at 10 Downing Street to discuss UK AI policy. Our plan is to invest nine figures in the UK AI infrastructure over the next 24 months." In May, rival AI infrastructure startup CoreWeave secured $7.5 billion in debt financing from Blackstone just weeks after it secured $1.1 billion in equity funding.

Persons: —, Ori, Mahdi Yahya, Yahya, Blackstone Organizations: Ori, Nvidia, Service, Business, BI

☆ Ark Invest expects this tech stock to disrupt Big Tech firms
▼ + stars: | 2024-10-08 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Big Tech companies will face stiff competition over the coming years, with emerging players in software and data management taking market share, according to Ark Invest. Mega-cap U.S. firms such as Microsoft , Amazon , Google , and Oracle have led the charge in the rise of artificial intelligence. Palantir Palantir, a data analytics company, appears to be providing customized AI and data services to its customers, compared with off-the-shelf products from Big Tech giants. The value of Palantir's services becomes even more compelling when combined with AI capabilities, according to Ark's Bhushan. So Palantir goes in, and it consolidates all this data," Bhushan noted.

Persons: Rahul Bhushan, CNBC's, Bhushan, Palantir, Ark's Bhushan, PLTR Organizations: Big Tech, Invest, Microsoft, Google, Oracle, Ark Invest, Amazon Web Services, Ark Venture

☆ Sovereign AI explained: An AI cloud CEO unpacks what's behind the trend
▼ + stars: | 2024-10-07 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

The company started buying Nvidia GPUs in 2021, getting to the AI cloud computing business earlier than most. CEO J.J. Kardwell describes the company as the largest privately-held cloud computing platform in the world. It also makes the Vultr boss well-positioned to explain a phrase frequently on the lips of AI luminaries like Nvidia CEO Jensen Huang: sovereign AI. Sovereign cloud is the delivery of cloud infrastructure as a service, typically inside a country. BI: AI computing is extremely energy intensive, and concerns about the US grid abound.

Persons: —, it's, J.J, Kardwell, Jensen Huang, we'll Organizations: Vultr, Service, Nvidia, Singtel, Department of Defense Locations: Singapore, Malaysia

☆ Everyone wants to know what AI is worth. One investor looked to the past for the $20 trillion answer.
▼ + stars: | 2024-10-03 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Miller's team compared AI's growth with past tech waves, finding consistent growth rates. In fact, the generative-AI wave looks a lot more like past tech waves than its revolutionary capabilities would suggest. That "rule of three" theory puts the value of the AI wave at about $20 trillion. Miller likened the AI wave to the mobile wave in about 2009, when there were few applications for the iPhone. "So the question is if compute is the primary underlying driver of economic activity, economic growth, economic opportunity, then there's an argument that it's actually bigger."

Persons: Ben Miller, Miller, Nvidia wouldn't, —, Jensen Huang, Everybody's, Anthropic's Claude, Fundrise, shortsighted, it's, We'll, they're Organizations: Nvidia, Service, Cisco, Intel, Business, Adobe, AMD, Meta, Microsoft, Bloomberg, IDC

☆ Microsoft's mammoth AI bet will lead to over $100 billion in data center leases
▼ + stars: | 2024-10-01 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

As Microsoft investors get ready for quarterly earnings this month, there's one particular metric that's become increasingly important: finance leases. Overall, Microsoft made $19 billion in capital expenditures in the latest quarter. "It's an insane ramp," said Charles Fitzgerald, a former Microsoft manager who writes about capital expenditures on his blog Platformonomics. Investors will get further clarity on Microsoft's lease finances when the company reports fiscal first-quarter results in late October. Executives at Microsoft and other top tech companies have approved higher capital expenditures in the past two years, often to boost their performance in generative AI.

Persons: Satya Nadella, Charles Fitzgerald Organizations: Microsoft, Investors Locations: Jakarta, Indonesia, U.S, Pennsylvania

☆ Alex Umansky is obliterating the S&P 500 over the last 5 years. His 8 high-quality stock picks for strong returns.
▼ + stars: | 2024-10-01 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Baron Durable Advantage Fund, managed by Alex Umansky, is up 136% in five years. It's the Baron Durable Advantage Fund (BDAIX), overseen by one of the firm's star managers, Alex Umansky. It's "the closest thing we have to an all-weather fund," Umansky told Business Insider. When putting a stock in the fund, Umansky said he has so much confidence in the quality and advantages of the business that he intends to hold it forever. The semiconductor producers make up 4.1% and 4.3%, respectively, of the Baron Durable Advantage Fund.

Persons: Alex Umansky, —, Ron Baron, Umansky, Baron, weren't, it's, OpenAI, That's Organizations: Broadcom, Taiwan Semiconductor, Meta, Microsoft, Service, Spotify, Business, Nvidia, Growth, Arch, Apollo Global Management Locations: Blackstone

☆ Google to invest $1 billion in Thailand to build data center and accelerate AI growth
▼ + stars: | 2024-09-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Google announced Monday it is investing 36 billion Thai baht, or $1 billion, into Thailand for the creation of a new data center and expansion of the country's cloud infrastructure. The investment would see the company create its first data center in Thailand, Google said in a post on its Thailand blog Monday. Google said its debut Thai data center will be located in Chonburi, an eastern province of Thailand. The facility will "help support the growing demand for Google Cloud and AI innovations, as well as popular Google services such as Google Search, Google Maps and Google Workspace" in Thailand, Jackie Wang, Google's Thailand country lead, said in the blog post, according to an English translation taken via Google Translate. But the firm has increasingly come under threat from the surge of generative AI tools such as OpenAI's ChatGPT.

Persons: Jackie Wang, Wang, Thais Organizations: Google, Microsoft, Temasek, Bain & Company, Conomy SEA, Commission Locations: Zurich, Switzerland, Thailand, Asia, Chonburi, Southeast Asia

☆ CNBC Daily Open: Time to look at AI-adjacent plays
▼ + stars: | 2024-09-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Stoxx Europe 600 Bank Index fell 0.73% as investors monitored UniCredit's potential merger with Commerzbank . Done selling NvidiaNvidia CEO Jensen Huang is done selling the company's stock for now. In March, Huang set out a plan to sell up to six million Nvidia shares by first quarter of 2025.

Persons: Jensen Huang, Huang, Meta Organizations: CNBC, Dow Jones, Nasdaq, Commerzbank, Google, Microsoft Google, European Commission, European Union, Microsoft, Nvidia, Bain & Company, Labs, Hewlett Packard Enterprise Locations: Europe

☆ A china stock poised for a breakout amid this stimulus rally, according to the charts
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +4 min

The Chinese central bank unrolled the most significant stimulus program since the COVID-19 pandemic and Chinese equities are starting to show signs that the long history of underperformance relative to western equities could possibly be on borrowed time. The name that has already demonstrated leadership that we want to focus on should this move into Chinese names continues is Tencent Holdings (TCEHY) . Before we get further into the company specifics it's important to reiterate that Chinese equities have under-performed U.S. equities since 2007. The goal of the program according to Chinese officials is to return the economy to a 5% growth rate. Turning to the focus company Tencent Holdings (TCHEY) is a multinational technology conglomerate listed on the Hong Kong exchange since 2004.

Persons: TCHEY, Todd Gordon, Gordon Organizations: Tencent Holdings, People's Bank of China, Hong, Inside Edge, CNBC, NBC UNIVERSAL Locations: China, Hong Kong

☆ 3 market experts share the 8 companies that will profit the most from AI's insatiable energy appetite
▼ + stars: | 2024-09-26 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

Moody's estimates that between 2023 and 2028, the electricity usage in data centers will grow 43% yearly. That's not including the energy-intensive process of constructing even more data centers, which Big Tech is scrambling to do. Business Insider spoke with three market experts to get their thoughts on what companies are best positioned to succeed as AI's appetite for energy strains existing infrastructure. Baker is betting on the utilities and cooling solutions providers that service the energy needs of data centers. New infrastructure needs to be built out, and the existing infrastructure needs to be bolstered, according to Wilhelmus.

Persons: —, Mark Zuckerberg, Jennifer Foster, Foster, Graeme Baker, Baker, Schneider, Jakob Wilhelmus, Wilhelmus, Eaton Organizations: Service, Business, Big Tech, Chilton Investment Company, Broadcom, Marvell Technology, IBM, Schneider, Trane Technologies Locations: Virginia, Freeport, McMoRan

☆ Google files EU antitrust complaint accusing Microsoft of stifling cloud competition
▼ + stars: | 2024-09-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Google filed an antitrust complaint with the European Commission Wednesday accusing Microsoft of using unfair licensing contracts to stifle competition in the multibillion-dollar cloud computing industry. At the heart of Google's complaint is the allegation that Microsoft uses unfair licensing terms to "lock in" clients and exert control over the cloud market. Referring to the CISPE settlement, Microsoft said in a statement Wednesday that it expects the European Commission to dismiss Google's complaint. "Microsoft settled amicably similar concerns raised by European cloud providers, even after Google hoped they would keep litigating," a Microsoft spokesperson told CNBC via email. "Having failed to persuade European companies, we expect Google similarly will fail to persuade the European Commission."

Persons: CISPE Organizations: Google, European, Wednesday, Microsoft, Microsoft Office, Commission, CNBC, European Commission

☆ Google's EU complaint puts Microsoft's cloud business under the microscope
▼ + stars: | 2024-09-25 | by ( Deirdre Bosa | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle's EU complaint puts Microsoft's cloud business under the microscopeCNBC’s Deirdre Bosa with the latest on Google’s EU complaint against Microsoft and its cloud computing services.

Persons: Deirdre Bosa Organizations: Microsoft

☆ Google files EU antitrust complaint against Microsoft over cloud competition
▼ + stars: | 2024-09-25 | by ( Deirdre Bosa | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle files EU antitrust complaint against Microsoft over cloud competitionCNBC’s Deirdre Bosa joins ‘Money Movers’ to report on Google's new EU complaint against Microsoft and its cloud computing services.

Persons: Deirdre Bosa, ’ Organizations: Microsoft, ‘

☆ Google Cloud exec says Microsoft is in violation of EU antitrust laws
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle Cloud exec says Microsoft is in violation of EU antitrust lawsAmit Zavery, head of platforms for Google Cloud, discusses the tech giant's antitrust complaint alleging Microsoft harms competition in the multibillion-dollar cloud computing industry.

Persons: Amit Zavery Organizations: Google, Microsoft

☆ These companies could be poised to start paying dividends, Morgan Stanley says
▼ + stars: | 2024-09-25 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The Federal Reserve's move to start cutting interest rates bodes well for dividend-paying stocks, and Morgan Stanley thinks several companies are poised to join their ranks. "Equity investors are seeking durable, higher yielding dividends as market volatility is expected to continue throughout the easing cycle," wrote Morgan Stanley strategist Todd Castagno in a report last Friday. Morgan Stanley drew up a list of companies that might have what it takes to start paying dividends, drawn from stocks that boast net cash and generate a free cash flow exceeding 3%. Instacart was also seen as a potential dividend initiator by Morgan Stanley. Other companies that Morgan Stanley highlighted as potential dividend initiators include short-term vacation rental company Airbnb and biotech play United Therapeutics .

Persons: Morgan Stanley, Todd Castagno, Castagno, Morgan, Piper Sandler, James Fish, Instacart, Raymond James, Josh Beck Organizations: Equity, Companies, United Therapeutics

☆ Warner Bros. Discovery partners with Google for AI-generated captions on 'Max' streaming service
▼ + stars: | 2024-09-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Warner Bros. Discovery is partnering with Google to integrate the internet giant's AI technology into its Max video streaming platform to automatically generate captions. Avi Saxena, chief technology officer of Warner Bros. "Working with Google Cloud to utilize Vertex AI within Warner Bros. Thomas Kurian, CEO of Google Cloud, the tech giant's cloud computing division, said that the partnership with Warner Bros.

Persons: Avi Saxena, Saxena, Thomas Kurian Organizations: Warner Bros, Discovery, Google, Max, Warner Bros . Discovery

☆ Microsoft to spend $1.3 billion in Mexico on cloud, AI tech
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +1 min

Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Microsoft will invest $1.7 billion to build out cloud computing and artificial intelligence infrastructure in Indonesia, betting on Southeast Asia's biggest economy to spur growth. Tech giant Microsoft will invest $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence, the company announced on Tuesday. "We're doubling down on bringing more capacity to Mexico," Chairman and CEO Satya Nadella said at an event in Mexico City. Microsoft and communications company Viasat are also working to bring the internet to more than 150,000 Mexicans previously without cellular connectivity by the end of 2025, Microsoft said.

Persons: Satya Nadella, Marcelo Ebrard Organizations: Microsoft, Tech, Viasat Locations: Jakarta, Indonesia, Mexico, Mexico City

☆ Microsoft's GitHub gives clients option to keep sensitive code in EU only, in data sovereignty push
▼ + stars: | 2024-09-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Firms will be able to control the "data residency" of software code stored on GitHub — effectively meaning they can decide which regions the data is kept in. GitHub Enterprise Cloud is a paid product the firm only offers to businesses. "The EU has been in the center of this [data residency] movement since the beginning of the cloud days." Going forward, GitHub plans to roll out data residency within its GitHub Enterprise Cloud across other regions, including Australia, Asia, and Latin America. EU push for digital 'sovereignty'GitHub's data residency push ties into a broader political and regulatory theme within the EU around so-called digital "sovereignty."

Persons: GitHub, Jonathan Raa, —, Thomas Dohmke, Dohmke, Shelley McKinley, Mario Draghi, Draghi, GitHub's Dohmke, it'll Organizations: Microsoft, Nurphoto, Getty Images Microsoft, European Union, EU, Companies, CNBC, European Central Bank Locations: Europe, Australia, Asia, America, EU, China, France, Finland

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