Energy
From nuclear to quantum computing, how Big Tech intends to power AI’s insatiable thirst for energy
Industrial chiller at Yotta Data Services Pvt. data center, in Navi Mumbai, India, on Thursday, Mar. 14, 2024. Bloomberg | Bloomberg | Getty Images A huge upswing in the number of data centers worldwide shows no signs of slowing down, prompting Big Tech to consider how best to power the artificial intelligence revolution. Some of […]
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Chevron beats earnings expectations, returns more than $7 billion to shareholders
Chevron beat third-quarter earnings and revenue expectations, returning a record amount of cash to shareholders. The company’s shares were up 2.6% in the premarket following the report’s release. The oil major’s quarterly profit, however, declined substantially compared with the year-ago period due to lower margins on refined product sales, lower prices and the absence of […]
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China’s Zeekr reports EV deliveries in October nearly doubled, clocks its best monthly numbers
ZEEKR EV cars are displayed at the 45th Bangkok International Motor Show in Bangkok, Thailand, March 25, 2024. Chalinee Thirasupa | Reuters Chinese electric carmaker Zeekr said Thursday its deliveries surged by 92% in October from a year ago, helping the company clock its best month at 25,049 vehicles. That beat the prior record of […]
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Oil giant Shell posts $6 billion profit beat, launches new share buyback program
The Shell logo is displayed outside a petrol station in Radstock in Somerset, England, on Feb. 17, 2024. Matt Cardy | Getty Images News | Getty Images British oil giant Shell on Thursday posted a small year-on-year drop to a stronger-than-expected third-quarter profit, partly owing to a sharp drop in crude prices and to lower […]
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Chinese EV maker BYD’s quarterly sales overtook Tesla’s for the first time
New cars, among them new China-built electric vehicles of the company BYD, are seen parked in the port of Zeebrugge, Belgium, October 24, 2024. Yves Herman | Reuters Chinese electric vehicle maker BYD reported third-quarter revenue that topped that of behemoth rival Tesla for the first time. On Wednesday, BYD reported revenue for the three […]
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FTX’s Nishad Singh gets no jail time, 3 years supervised release for role in crypto fraud
Nishad Singh, former director of Engineering at FTX Cryptocurrency Derivatives Exchange, left, and Claire Watanabe, former senior executive at FTX Cryptocurrency Derivatives Exchange, arrive at court in New York, on Oct. 30, 2024. Mackenzie Sigalos | CNBC Former FTX executive Nishad Singh was sentenced to time served and three years of supervised release on Wednesday, […]
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PayPal beats on earnings but misses on revenue
A PayPal sign is seen at its headquarters in San Jose, California, Jan. 30, 2024. Justin Sullivan | Getty Images News | Getty Images PayPal reported better-than-expected third-quarter earnings on Tuesday, but revenue came in a bit light of expectations. Here’s how the company did compared to Wall Street estimates, based on a survey of […]
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AI boom thrusts Europe between power-hungry data centers and environmental goals
A large hallway with supercomputers inside a server room data center. Luza Studios | E+ | Getty Images The boom in artificial intelligence is ushering in an environmentally conscious shift in how data centers operate, as European developers face pressure to lower the water temperatures of their energy-hungry facilities to accommodate the higher-powered chips of […]
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Foreign investors flock to flagship Saudi economic conference — but face less free-flowing cash
A delegate arrives at the King Abdulaziz Conference Centre in Saudi Arabia’s capital Riyadh to attend the Future Investment Initiative (FII) forum. Fayez Nureldine | Afp | Getty Images Thousands of financiers, founders and investors are set to descend on the Saudi capital of Riyadh for the eighth edition of the kingdom’s Future Investment Initiative, […]
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China’s steel exports expected to falter in 2025 as pain from tariffs spread
JIUJIANG, CHINA – JUNE 17: A worker manufactures seamless steel gas cylinders for export at the workshop of Sinoma Science & Technology (Jiujiang) Co., Ltd. on June 17, 2024 in Jiujiang, Jiangxi Province of China. Wei Dongsheng | Visual China Group | Getty Images China’s steel exports will soon hit an eight-year high, before sweeping […]
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