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Billions spent and hypothetical returns: the AI boom explained with six charts

ai, AI (Artificial Intelligence), Artificial Intelligence, Business, Computing, Energy industry, ipos, OpenAI, productivity, Stock markets, Technology, Technology sector, UK news, US news, World news

Expenditure is growing fast and consumer take-up accelerating. But alarm bells are sounding The race is very much on. Elon Musk’s SpaceX, which makes AI models as well as space rockets, announced last week it is seeking a $1.77tn (£1.31tn) valuation on the US stock market while Anthropic, the startup behind the Claude chatbot, said […]

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Rachel Reeves tells ministers to ‘buy British’ in four key industries

ai, AI (Artificial Intelligence), Artificial Intelligence, Business, Energy industry, Labour, Politics, Rachel Reeves, Shipping industry, Steel industry, UK news

Exclusive: Chancellor pushes for procurement of ships, steel, energy and AI to prioritise Britishness as well as costRachel Reeves has instructed cabinet colleagues to award government contracts in four critical industries directly to British companies, making clear her irritation that ministers have been sending too much government business abroad.In a letter seen by the Guardian,

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A Louisiana state senator helped secure Meta’s largest datacenter. Then he sold the land beside it

ai, AI (Artificial Intelligence), Artificial Intelligence, Energy, Energy industry, Environment, Louisiana, Meta, New Orleans, Technology, US news

Jay Morris denies experts’ claims that he violated ethics rules over land deals near the site of Meta’s Hyperion datacenterThis story is from Floodlight, a non-profit newsroom that investigates the powers stalling climate actionFor more than two years, John “Jay” Morris, a Louisiana state senator, helped pave the way for Meta to build one of

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Scotland’s ‘green datacentres’ policy ignores emissions impact of AI, analysis shows

ai, AI (Artificial Intelligence), Artificial Intelligence, Computing, Energy, Energy industry, Environment, Greenhouse gas emissions, Scotland, Technology, UK news

Definition of green facilities made in 2022, before release of ChatGPT, says Action to Protect Rural ScotlandA Scottish government policy designed to encourage datacentres to build in Scotland could lead to a massive volume of carbon emissions being ignored, according to an analysis by a Scottish charity.“Green datacentres” are at the heart of Scotland’s ambitions

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More than 100 UK datacentres plan to burn gas to generate electricity

ai, AI (Artificial Intelligence), Artificial Intelligence, Business, Climate crisis, Energy, Energy industry, Environment, Gas, Technology, Technology sector

Requests for gas connections by operators amount to more than 15 terawatt hours per year, endangering climate targetsMore than 100 new datacentres in the UK plan to burn gas to generate electricity, some potentially doing so permanently.British officials say this is an inevitable consequence of a years-long wait to connect to the National Grid, and

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Datacentres using 6% of electricity supply in UK and US, research says

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Industry body says energy consumption driven by AI up 15% globally in two years as it warns of societal backlashDatacentres are consuming 6% of electricity in the UK and US, with the growing strain of AI on energy supplies prompting community resistance, according to research.The proportion of electricity used by vast warehouses stacked with microchips

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Rolls-Royce secures nearly £600m in UK government cash to develop small reactors

ai, AI (Artificial Intelligence), Artificial Intelligence, Business, Energy, Energy industry, Environment, Greenhouse gas emissions, infrastructure, Investing, Manufacturing sector, Nuclear power, Rolls-Royce, Technology, UK news, Wales

Engine-maker CEO hails ‘critical milestone’ for company in race to deliver SMR technology built at Wylfa plant on Anglesey Business live – latest updatesRolls-Royce has secured up to £599m from Britain’s national wealth fund as it races to develop the UK’s first small modular nuclear reactors.The fund will help support Rolls-Royce’s design of small modular

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Higher energy costs from Iran war could threaten fragile economics of AI boom | Heather Stewart

ai, AI (Artificial Intelligence), Artificial Intelligence, Bank of England, Business, Donald Trump, Economics, Energy industry, Strait of Hormuz, Technology, Technology sector, US news, US-Israel war on Iran, World news, World Trade Organization

Industry with business model not yet firmly established and investments financed by huge debts is particularly at riskDonald Trump’s most immediate concern in demanding Iran reopen the strait of Hormuz may be rocketing US gasoline prices, but if the conflict drags on, higher energy costs will be felt far beyond the pumps.Systemically higher power prices

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Elon Musk’s Tesla given go-ahead to supply electricity in Great Britain

ai, AI (Artificial Intelligence), Artificial Intelligence, Automotive industry, Business, Electric, hybrid and low-emission cars, Elon Musk, Energy industry, Ofgem, Tesla, UK news, US news, World news

Ofgem licence means firm can replicate Texas setup of powering homes, businesses and EVsElon Musk’s Tesla has won approval to supply electricity to households and businesses across Great Britain, as the tech billionaire expands his energy ambitions.The energy regulator, Ofgem, has formally granted Tesla an electricity supply licence, enabling it to provide electricity to domestic

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US tech firms pledge at White House to bear costs of energy for datacenters

ai, AI (Artificial Intelligence), Alphabet, Amazon, Artificial Intelligence, Donald Trump, Energy industry, Meta, Microsoft, OpenAI, Technology, US news

Companies will pay for upgrades and new electricity generation in agreement to mitigate concerns of rising billsGoogle, Microsoft, Meta, Amazon and several artificial intelligence companies signed a pledge at the White House on Wednesday to bear the cost of new electricity generation to power their datacenters.The agreement is meant to help mitigate concerns that big

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