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☆ Apple deftly navigated Trump's first term. The second one brings new challenges
▼ + stars: | 2024-11-06 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The news Trump's decisive victory over Vice President Kamala Harris in the 2024 presidential election comes with varying implications for Apple investors. Apple got exceptions in Trump's first term that muted the impact of tariffs on Apple. Bottom line Apple deftly navigated a first Trump term, but it's way too early to say with certainty what Trump's second term in office will mean for the California tech giant. As for tariffs, Apple has wisely expanded its manufacturing capabilities outside of China in markets like India, and it should continue to do so. In Trump's second term, "Apple is going to need what I call special pleading," Jim Cramer said during the Morning Meeting.

Persons: Donald Trump, Kamala Harris, Trump, Apple —, Apple, Bernstein, Tim Cook, Cook, I've, Hillary Clinton, Rosenblatt, it's, Jim Cramer, they're, Jim, Jim Cramer's, Saul Loeb Organizations: Apple, Big Tech, Bank of America, Justice Department, Management, Nvidia, Microsoft, Club, Trump, Democratic, Rosenblatt, Samsung, DOJ, CNBC, American Workforce Policy, White, AFP, Getty Locations: China, U.S, India, California, Washington , DC

While many Silicon Valley VCs and founders aren't huge Trump fans, their industry thrives when startups are getting acquired or going public quickly. The Biden administration clamped down heavily on tech M&A, so Trump's win could be a financial boon for the sector. Stephen Hays, the founder and managing partner of What if Ventures, said money is already moving again. AdvertisementBig Tech returns to the tableAs president, Trump could roll back some of the antitrust policies that his opponent would have continued. "People are keeping to themselves and just getting on with their business," said Conrad Burke, a managing partner of MetaVC Partners.

Persons: Kamala Harris, Reid Hoffman, Laurene Powell, Vinod Khosla, Harris, Donald Trump's, aren't, Biden, There's, Jordan Nof, Stephen Hays, Trump, Elon, Lina Khan's, Lulu Cheng Meservey, Y, Lina Khan, Kevin Dietsch, Brandon Brooks, — Trump's, JD Vance —, Chris Farmer, Mason Angel, Louis Lehlot, Lardner, Michael Greeley, Crypto, hasn't, Gary Gensler, Bitcoin, Brian Garrett, Garrett, Jenny Fielding's, Fielding, Conrad Burke, Leslie Feinzaig, bundlers, Kamala, I've Organizations: Democrat, White House, Trump, Tusk Venture Partners, Ventures, Tech, Federal Trade, Investors, Foley, Big Tech, Markets, Flare Capital, Biden, SEC, Crosscut Ventures, Google, Microsoft, MetaVC Partners Locations: Europe

☆ Qualcomm pops 10% on chipmaker's earnings and revenue beat
▼ + stars: | 2024-11-06 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported fourth-quarter earnings on Wednesday that beat Wall Street expectations for earnings and revenue, and the company guided to a strong December quarter. The company reported $2.92 billion in net income, or $2.59 per share, a sharp jump from last year's $1.49 billion, or $1.23 per share. Qualcomm reported $33.19 billion in total revenue in its fiscal 2024, a 9% increase from 2023. Qualcomm reported a 12% increase in handset chip sales to $6.1 billion, in line with FactSet estimates. The company's profitable technology licensing business, QTL, reported $1.52 billion in revenue, a 21% increase over the same period last year.

Persons: Akash Palkhiwala, Cristiano Amon Organizations: Qualcomm, Apple, Nvidia, Quest, Microsoft

☆ China's navy warned its millennial and Gen Z sailors not to display their military credentials to attract attention on dating apps
▼ + stars: | 2024-11-06 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

China told its sailors on Monday to avoid posting about their jobs on dating apps. In the last year, China has pushed hard on warnings about online habits that it deems are security threats. AdvertisementChina's navy warned its younger members on Monday to avoid publicizing their military careers on dating apps over concerns of security breaches by foreign entities. The internet has traps," the People's Liberation Army Navy's official propaganda arm wrote in a social media post for the "internet generation." Related Video China shows how it would attack Taiwan as tensions rise"Nowadays, dating apps have emerged in an endless stream," the post reads.

Persons: —, Xi Jinping, Li Shangfu Organizations: Service, People's Liberation Army, Microsoft, Defense Locations: China, Taiwan, Beijing, Washington

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Trump victory edition
▼ + stars: | 2024-11-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Donald Trump, Tesla, Elon Musk, Trump, Gary Gensler, Jim Cramer's, Jim Cramer, Jim Organizations: NBC, Senate, Treasury, Federal Reserve, Trump, Tesla, Club, Justice Department, Apple, DOJ, FTC, Microsoft, Taiwan Semiconductor Manufacturing Company, SEC, Jim Cramer's Charitable, CNBC Locations: China, Taiwan, Mexico

While on the campaign trail, Trump threatened retribution against some tech companies, including jailing Meta's chief, Mark Zuckerberg. "That is likely to have devastating consequences for US tech companies that sell in foreign markets as well as crippling domestic consumption." Hay said that while most presidents wouldn't have any say on existing cases, "Trump is a bit more of a wild card." AdvertisementBut still, he said, new guidelines wouldn't have much impact on the biggest tech companies. There are fears that if H1-Bs are restricted under the second Trump administration, the US could lose its competitive edge on the world stage.

Persons: Donald Trump, —, Trump, Elon, marveling, — Musk, jailing, Mark Zuckerberg, Zuckerberg, Mark Lemley, Lemley, GlobalData's Neil Saunders, Chris Walton, Walton, there's, George Hay, Hay, wouldn't, Kamala Harris, Dan Romanoff, Joe Biden, Anna Rathbun, Biden, he's, Rathbun, James Brundage, Saunders, Valerie Wirtschafter, Harris, Romanoff, Wirtschafter Organizations: Trump, Big, Service, SpaceX, Big Tech, Google, Justice Department, Department, Barclays, Stanford Program, Law, Science & Technology, Business, Retail, Target, Apple, Cornell University, Republicans, Morningstar, AT, Time Warner, Republican, Walmart, Brookings, Artificial Intelligence, Emerging Technology Initiative Locations: Americas

AI regulation is likely to change under Trump, but major antitrust cases are unlikely to be impacted. While on the campaign trail, Trump threatened retribution against some tech companies, including jailing Meta chief Mark Zuckerberg. "That is likely to have devastating consequences for US tech companies that sell in foreign markets as well as crippling domestic consumption." AdvertisementBut still, new guidelines won't have much impact on the biggest tech companies, Hay said. Experts fear that, if H1-Bs are restricted under the second Trump administration, the US could lose its competitive edge on the world stage.

Persons: Donald Trump, —, Trump, Elon, marveling, — Musk, jailing, Mark Zuckerberg, Zuckerberg, Mark Lemley, Lemley, Neil Saunders, Chris Walton, Walton, there's, George Hay, Hay, wouldn't, Kamala Harris, Dan Romanoff, Joe Biden, Anna Rathbun, Biden, Rathbun, James Brundage, Ernst, Saunders, Valerie Wirtschafter, Harris, Romanoff, Wirtschafter Organizations: Trump, Big, Service, SpaceX, Big Tech, jailing Meta, Google, Justice Department, Department, Barclays, Stanford Program, Law, Science & Technology, Retail, Target, Apple, Cornell University, Republicans, Morningstar, AT, Time Warner, Republican, Walmart, Brookings, Artificial Intelligence, Emerging Technology Initiative Locations: Americas

☆ Analysts tout an 'underappreciated growth driver' at Microsoft that can benefit from AI
▼ + stars: | 2024-11-05 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

The news In a note to clients on Tuesday, RBC Capital Markets described LinkedIn as an "underappreciated growth driver." Revenue rose roughly 10% to $4.29 billion in fiscal Q1, driven by growth across all lines of its business. While not a crucial part of Microsoft's overall top line, it's still an incremental driver of revenue growth and can help the company further diversify its income streams. The morning after last week's earnings Jim Cramer said Microsoft shares below $400 each would be an interesting buy level. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Satya Nadella, OpenAI, Jim Cramer, Jim Cramer's, Jim, Beata Zawrzel Organizations: Microsoft, RBC Capital Markets, RBC, LinkedIn, Revenue, CNBC, Nurphoto, Getty Locations: India, Brazil

☆ How tech stocks could fare under a Harris or Trump administration
▼ + stars: | 2024-11-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

They have also considered the impact of potential tariffs proposed by former President Donald Trump. Some on Wall Street view a Harris win as a potential obstacle for antitrust and megacap technology stocks. "Regulatory scrutiny will probably help a lot of M & A activity under Trump — Harris, it'll be a little more of the status quo," said Jay Woods, chief global strategist at Freedom Capital Markets. This could "slow the pace of the AI revolution," he said in a recent post to X that also called a Harris win "more bullish" for the industry. Some investors also view Tesla as a likely winner under a Trump administration, given CEO Elon Musk's close ties to the former president.

Persons: Kamala Harris, Donald Trump, Roger McNamee, Harris, Trump, Trump — Harris, it'll, Jay Woods, McNamee, Vivek Arya, Joe Rogan, Arya, Ed Mills, Raymond James, of America's Brad Sills, Raymond James ' Mills, Dan Ives, Trump's, Tesla, Elon Musk's, Capital's, Wolfe, Chris Senyek Organizations: Elevation Partners, Tech, Antitrust, Google, Justice Department, Trump, Freedom Capital, Bank of America, PHLX Semiconductor, Democrat, Republican, SOX, Devices, Qualcomm, Nvidia, Broadcom, Texas Instruments, Intel, of America's, Microsoft, Oracle, Wedbush Securities, Investors Locations: stoke, Taiwan, China, Washington

☆ Palantir CEO says the company 'eviscerated' sales so hard execs have stopped talking about how 'crazy' he is
▼ + stars: | 2024-11-05 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

CEO Alex Karp said revenue growth was driven by AI demand in the US. AdvertisementPalantir CEO Alex Karp took a victory lap on Monday as the company reported big third-quarter earnings. "We absolutely eviscerated this quarter, driven by unrelenting AI demand that won't slow down," Karp, who co-founded Palantir in 2003, said in an earnings release. In a letter to shareholders that accompanied the earnings report, Karp said the US market was still the core of Palantir's business. The CEO added that Europe was being "left behind" in AI innovation and needed to adapt or "risk ruin."

Persons: Alex Karp, Karp, —, " Karp, unravels ChatGPT, it's Organizations: Service Locations: US, Palantir, New Hampshire, Silicon Valley, Europe

☆ Goldman's top equity strategist tells BI 2 similarities between today's market and the dot-com bubble — and what it means for your portfolio
▼ + stars: | 2024-11-05 | by ( Christine Ji | ) www.businessinsider.com time to read: +7 min

Kostin expects the S&P 500 equal-weighted index and mid-cap stocks to gain from a broadening market. Today, the 10 largest stocks in the S&P 500 make up 36% of the entire index by market capitalization. Related storiesThis gap between the top S&P 500 performers and the rest of the index hasn't occurred since the dot-com bubble. "The evidence is strongly in support of the fact that growth rates for high revenue growth companies tend to fade," he added. For that reason, Kostin is expecting the S&P 500 equal-weight SPW index to outperform the market-cap-weighted S&P 500.

Persons: David Kostin, Kostin, —, Goldman Sachs, Kostin isn't, that's, he's Organizations: Service, Big Tech, Intel, Microsoft, Cisco

☆ Perplexity AI in final stages of raising $500 million round at $9 billion valuation
▼ + stars: | 2024-11-05 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Perplexity AI, the artificial-intelligence search engine startup, is in the final stages of raising $500 million in funding at a $9 billion valuation, a source familiar with the situation told CNBC. Perplexity most recent valuation was $3 billion in June. Perplexity started the year with a roughly $500 million valuation. Despite the AI boom, Perplexity has been embroiled in controversy due to accusations of plagiarizing content from media outlets. WATCH: Perplexity unveils AI election hub: Here's what you need to know

Persons: Perplexity, OpenAI, Microsoft's Bing, Der Spiegel, Dmitry Shevelenko, Shevelenko Organizations: CNBC, Google, Institutional Venture Partners, New York Times, Media, The Texas Tribune, WordPress Locations: ChatGPT

☆ CHART: Big Tech is going wild on AI spending next year and beyond
▼ + stars: | 2024-11-05 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Amazon, Google, Meta, and Microsoft are expected to churn through $300 billion in capex next year. The spending spree is driven by generative AI and LLM opportunities, says Morgan Stanley. Earlier this year, Bernstein forecast Big Tech capex of more than $1 trillion over five years. Related storiesRelated Video How tech layoffs could affect the economyIn Morgan Stanley's new estimates, Amazon saw the largest increase in future spending. In 2026, Amazon capex will climb even higher, to $105 billion, according to Morgan Stanley estimates.

Persons: Morgan Stanley, Amazon's, —, Bernstein, Morgan Stanley's, Andy Jassy, We've, Jassy Organizations: Google, Microsoft, Service, Big Tech, Tech, Amazon Locations: capex

☆ Here are Tuesday's biggest analyst calls: Apple, Microsoft, Palantir, Eli Lilly, Broadcom, Krispy Kreme, Live Nation & more
▼ + stars: | 2024-11-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley reiterates Live Nation as overweight Morgan Stanley raised its price target on the stock to $140 per share from $120. Bank of America reiterates Apple as buy Bank of America says it sees "limited" impact to Apple earnings regardless of the Presidential outcome. Bank of America reiterates Palantir as buy The firm says Palantir is an AI "juggernaut" following earnings on Monday. Bank of America reiterates Arista Networks as buy Bank of America says it sees share gains ahead for the networking equipment company. Morgan Stanley reinstates Krispy Kreme as equal weight Morgan Stanley says Krispy Kreme has a balanced risk/reward right now.

Persons: Morgan Stanley, it's bullish, Eli Lilly, Palantir, Bernstein, Eaton, Deutsche, there's, Jefferies, Rick Dreiling, MTZ, Morgan Stanley reinstates Krispy, Krispy Kreme Organizations: Bank of America, Boeing, JPMorgan, RBC, Microsoft, " Bank of America, Broadcom, Apple, Republicans, Arista Networks, Arista, Meta, Deutsche Bank, eBay, Barclays, Energy, Infrastructure, Communications, Resources, IDA Locations: San Antonio, Redmond , WA

☆ Why your nest egg is Apollo's 'single biggest opportunity' for growth
▼ + stars: | 2024-11-05 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

Helping fund that growth has been growing demand for retirement products, said CEO Marc Rowan. Here's Rowan's case for why your nest egg is the next frontier for the alternative asset manager. Helping to fund those loans is Apollo's retirement business, which Apollo CEO and cofounder Marc Rowan sees as the investment firm's "single biggest opportunity" for future growth. A slide from Apollo's earnings presentation that highlights inflows into Apollo's lines of business. Advertisement"I do envision a day when we will be talking about 60-40 portfolios that are comprised of public and private," Rowan said.

Persons: Marc Rowan, Here's, —, There's, Rowan, Athene, Apollo Rowan, unravels ChatGPT, Trump, Rowan hasn't Organizations: Apollo Global Management, Service, Apollo Global, North Star

☆ OpenAI is making moves toward becoming a for-profit company
▼ + stars: | 2024-11-05 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

OpenAI is one step closer to becoming a for-profit company. A for-profit structure would be much more conventional for the investors OpenAI is courting. Reports of the California attorney general's involvement in the process indicate the company is one step closer to formalizing the unprecedented shift, which would require the attorney general's approval. Neither OpenAI nor the California attorney general's office immediately responded to Business Insider's request for comment. A for-profit structure would be much more conventional for the big-name investors OpenAI is increasingly courting, including Microsoft and Nvidia.

Persons: —, Sam Altman, general's, OpenAI, Rob Bonta, Bret Taylor Organizations: Bloomberg, Service, Microsoft, Nvidia Locations: California, Delaware

☆ Nvidia passes Apple as world's most valuable company
▼ + stars: | 2024-11-05 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Nvidia passed Apple in market cap on Tuesday becoming, for a second time, the most valuable publicly traded company in the world. Nvidia rose nearly 3% to close with a market cap of $3.43 trillion, ahead of Apple at $3.4 trillion. Nvidia is the dominant supplier of GPUs, which are used to develop and deploy advanced AI software such as OpenAI's ChatGPT. Apple was the first company to reach a $1 trillion and a $2 trillion market cap. S&P Dow Jones announced last week that Nvidia will join the Dow Industrial Average on Friday, replacing longtime rival Intel , and joining Apple in the blue-chip index.

Persons: Jensen Huang, OpenAI, Dow Jones Organizations: NVIDIA, Center, Washington , D.C, Nvidia, Apple, Apple Intelligence, Microsoft, Dow, Intel Locations: Washington ,

☆ Google Workspace chief is stepping down, leaked memo shows
▼ + stars: | 2024-11-05 | by ( Hugh Langley | ) www.businessinsider.com time to read: +3 min

Google's Workspace leader Aparna Pappu is stepping down, per an internal memo. "I'm ready for the next opportunity at Google and stepping down from my current role as GM of Workspace," Pappu told staff last week in a memo viewed by Business Insider. Pappu said she would remain in an advisory position for Workspace before transitioning to a new role within Google. Dischler moved to a new role as Google's president of cloud applications earlier this year after 15 years working on Google's ads. AdvertisementThe shake-up comes at a critical time for Google's Workspace business as it tries to get customers to pay for new generative AI features.

Persons: Aparna Pappu, Jerry Dischler, —, Pappu, Javier Soltero, Anurag Agarwal, Yulie Kwon Kim, Dischler, Thomas Kurian, Pat McCarthy, Bob Frati, That's Organizations: Service, Microsoft, Google, Business, BI

☆ Chip giant Nvidia wants to bring robots to the hospital
▼ + stars: | 2024-11-04 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

Nvidia wants to bring "physical AI" to hospitals, with robots for X-rays, linen delivery, and more. AdvertisementNvidia is digging deeper into healthcare — and the tech giant has big ambitions to bring AI to every part of the hospital. "This physical AI thing is coming where your whole hospital is going to turn into an AI," Powell told BI. Physical AI is getting more sophisticated for real-time surgeries, too. But Nvidia sees robots being used far beyond the operating room — including to monitor a patient for falls in their hospital room, or bring them fresh linens, Powell said.

Persons: —, Healthcare Kimberly Powell, Powell, III, Nvidia doesn't, Abridge Organizations: Nvidia, Service, Healthcare, University of Florida Health, Mayo Clinic, AP, Inc, Catalyst, Microsoft Locations: Las Vegas, Florida, Abridge, HLTH

☆ HPE CEO tells BI why he's redoubling DEI initiatives as some companies waver
▼ + stars: | 2024-11-04 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

Hewlett Packard Enterprise CEO Antonio Neri prioritizes diversity, equity, and inclusion. AdvertisementHewlett Packard Enterprise CEO Antonio Neri started his career at the company as a "Customer Service Engineer" in a call center nearly 30 years ago. Neri said he addresses DEI initiatives at the company in internal quarterly leadership discussions and company surveys multiple times a year. The CEO role has changedThe 57-year-old CEO wants a diverse workforce that stays with the company and moves up the ranks. If you're sitting on the sideline, that means you're you're not contributing your best," he said.

Persons: Antonio Neri prioritizes, John Deere, —, Antonio Neri, " Neri, HPE, Harley Davidson, Neri, He's, it's, Meg Whitman, he's Organizations: Hewlett Packard Enterprise, Microsoft, Service, Hewlett, Enterprise, Business, HP, Partners, eBay Locations: Kenya

☆ Watch the AI robots that Jeff Bezos just invested in fold laundry and put eggs in a carton
▼ + stars: | 2024-11-04 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Jeff Bezos just invested in an artificial intelligence startup creating digital brains for robots. Videos from the company show robots folding laundry, bussing tables, and assembling boxes. At Physical Intelligence (π) our mission is to bring general-purpose AI into the physical world. Physical Intelligence, a representative for Bezos, and the other VC firms reportedly in the funding round did not immediately respond to requests for comment from Business Insider. OpenAI and Microsoft have invested in humanoid robot startup Figure AI.

Persons: Jeff Bezos, — Organizations: Service, Physical Intelligence, Amazon, Lux Capital, The New York Times, Business

☆ From nuclear to quantum computing, how Big Tech intends to power AI's insatiable thirst for energy
▼ + stars: | 2024-11-04 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +7 min

data center, in Navi Mumbai, India, on Thursday, Mar. Some of the options on the table include a pivot to nuclear, liquid cooling for data centers and quantum computing. A server room at a data center in India. Alongside nuclear energy and liquid cooling technology, some tech players have suggested developments within AI could help to decarbonize data centers. Aerial view of a data center owned by the US multinational and technology company Google in Santiago on October 9, 2024.

Persons: Somya Joshi, Frisio, Dhiraj Singh, Raj Hazra, Peter Herweck, Eric Schmidt, SEI's Joshi, Joshi, Hazra, Rodrigo Arangua Organizations: Yotta Data Services, Bloomberg, Getty, Big Tech, Stockholm Environment Institute, SEI, CNBC, International Energy Agency, Swiss, ABB, Microsoft, Google, Schneider Electric, Motivair Corp, Quantinuum, Afp, Honeywell Locations: Navi Mumbai, India, Mar, Stockholm, U.S, Santiago, South America, Quantinuum

☆ Jeff Bezos and OpenAI invest in robot startup Physical Intelligence at $2.4 billion valuation
▼ + stars: | 2024-11-04 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Physical Intelligence, a robot startup based in San Francisco, has raised $400 million at a $2.4 billion post-money valuation, the company confirmed Monday to CNBC. Investors included Amazon founder Jeff Bezos, OpenAI, Thrive Capital and Lux Capital, a Physical Intelligence spokesperson said. Physical Intelligence's new valuation is about six times that of its March seed round, which reportedly came in at $70 million with a $400 million valuation. Physical Intelligence hopes that model will be the first step toward its ultimate goal of developing artificial general intelligence. In case studies, Physical Intelligence details how its tech could allow a robot to do laundry, bus tables or assemble a box.

Persons: Sam Altman, Jeff Bezos, OpenAI, Microsoft's Bing Organizations: Economic, Amazon, Change, Physical Intelligence, CNBC, Investors, Lux Capital, Khosla Ventures, Sequoia Capital, Tesla, Google, Intelligence Locations: Davos, Switzerland, Glasgow, Scotland, Britain, San Francisco, ChatGPT

☆ Tech partnerships with power companies for AI in doubt after government rejects key Amazon agreement
▼ + stars: | 2024-11-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Technology companies' push to directly power artificial intelligence with nuclear plants hit a major roadblock, after a federal regulator rejected a request to increase power for an Amazon data center. Constellation Energy and Vistra Corp. tumbled nearly 8% and more than 3%, respectively, in sympathy. The Amazon data center campus can still use 300 megawatts of power from the Susquehanna nuclear plant, according to Talen. The FERC decision does not impact Constellation's plans to restart the Three Mile Island nuclear plant in 2028 through a power purchase agreement with Microsoft . Tech companies are increasingly turning to nuclear power because it is reliable and does not emit carbon dioxide emissions.

Persons: Vistra, Talen, Mark Christie Organizations: Federal Energy Regulatory Commission, Susquehanna, Independent, Talen Energy, Amazon, Constellation Energy, Vistra Corp, Microsoft, Tech, Nvidia, Constellation Locations: Pennsylvania, Susquehanna, Ohio, New Jersey, Talen

☆ A rare bee species reportedly put an end to Meta's plans for a nuclear-powered AI data center
▼ + stars: | 2024-11-04 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

A rare bee species reportedly threw a wrench in Meta's plans for an AI data center. Other tech giants are spending billions on data centers to further their AI ambitions. A rare species of the insect threw a wrench in the company's plans for an AI data center, the Financial Times reported Monday. Rivals, including Google, Amazon, and Microsoft, also invest billions in data centers to power their AI. AdvertisementThe boom in data centers to power AI also comes with high costs environmentally, not just financially.

Persons: Meta, —, Mark Zuckerberg, IBM's Jonathan Adashek Meta, Kairos Power, Marc Wulfraat, MWPVL Organizations: Service, Financial Times, Google, Microsoft, Kairos, Bloomberg, McKinsey

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