Rolls-Royce expands US manufacturing with investment in South Carolina plant
"The increased investment strengthens our ability to serve our U.S. customers – especially in the fast-growing American data center industry," Adam Wood, managing director for Rolls-Royce's Power Systems division in America, said in a statement.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shinjini Ganguli)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
4 hours ago
- The National
Energy and Innovation summit: Trump says $92bn to be invested in Pennsylvania for AI and tech
US President Donald Trump pushed his vision on powering energy-hungry artificial intelligence, during the first Pennsylvania Energy and Innovation Summit. At a discussion on Tuesday, Mr Trump claimed that more than 20 technology and energy companies had decided to invest $92 billion in Pennsylvania. "This is really a triumphant day for the people of the Commonwealth," he told the event, led by Republican US Senator Dave McCormick, in Pittsburgh at Carnegie Mellon University. 'This summit is about catalysing $90 billion of investment and tens of thousands of jobs in Pennsylvania,' Mr McCormick said. He also referred to the increasingly adversarial relationship between the US and China as he set the stage for the day's agenda. 'If we don't lead this AI revolution on our own terms, we will hand control of our infrastructure, data, leadership and way of life to the Chinese Communist Party,' Mr McCormick said. With AI continuing to expand into all aspects of life, the burden it places on the US energy grid is becoming more of an issue, as policymakers try to keep America leading the global race for AI dominance. According to a report from the US Energy Department, data centres used about 4.4 per cent of total electricity in the country in 2024. By 2028, that share could increase to 12 per cent. By most estimates, a query to ChatGPT uses 10 times more energy than a similar search on Google. The event has featured panels and discussions on energy and AI, including how to best meet the energy needs created by the technology, and looking at the efficiencies that AI could create in the years ahead. There were also discussions about the need for data centres to keep up with the AI investment boom and increased user demand. During the opening panel discussion, alternative asset management firm Blackstone made a $25 billion investment in building data centres in Pennsylvania. Investors, entrepreneurs and business leaders from around the world are attending the event. Khaldoon Al Mubarak, Mubadala's managing director and chief executive and chairman of the UAE Executive Affairs Authority, made the trip to Pittsburgh. Lim Chow Kiat, chief executive of Singapore's Government Investment Corporation, was also invited. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, Interior Secretary Doug Burgum and Energy Secretary Chris Wright were among the White House officials in attendance. Alex Karp, chief executive of AI firm Palantir, Joseph Dominguez, Constellation Energy chief, and Jake Loosararian, founder of Gecko Robotics, also took part. As proof of how bipartisan AI and energy issues have become, Pennsylvania's Democratic Governor Josh Shapiro, a staunch critic of Mr Trump and a possible contender for the 2028 Democratic presidential race, is scheduled to attend. For coal, fracking and even nuclear power, Pennsylvania has become the centre of the US energy renaissance. A few weeks ago, Mr Shapiro attended a nuclear energy rally to celebrate a partnership with Microsoft at the Three Mile Island nuclear power plant in the state, which will soon reopen under a different name. Nuclear energy is seen by many supporters of AI as a way to strengthen the energy grid as use of the technology expands. But critics fear the content of the event will be taken over by politics. A day before the event, Carnegie Mellon University's president, Farnam Jahanian, acknowledged the politically charged backdrop against which the conference was taking place. 'I recognise that CMU's decision to host the summit has prompted concern and disagreement among some members of our community,' Mr Jahanian said, pointing out his disagreements with Mr Trump on issues concerning education funding. 'At the same time, I firmly believe that higher education must be a convener – a catalyst for ideas and partnerships that shape our future.' On Tuesday, Mr Jahanian said CMU, with its roots in technology, was the perfect host for the summit, which was a 'defining moment for our country and humanity'. He said AI was 'the most important intellectual development of our time'.
Zawya
5 hours ago
- Zawya
Sierra Leone's President Julius Maada Bio Hosts Economic Community of West African States (ECOWAS) Bank Delegation, Commits to Strengthen Regional Investment Collaboration
The President of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, has paid a courtesy visit on His Excellency, President Dr Julius Maada Bio at his state house office, where he noted that 'Your Excellency, all macroeconomic indicators have been doing well. A sign that your government is doing well. Congratulations.' The ECOWAS Bank for Investment and Development is the leading regional investment and development bank, owned by the fifteen-member states of the Economic Community of West African States (ECOWAS). Introducing the delegation to the President, the Chief Minister, Dr David Moinina Sengeh, revealed that the team is in the country based on an initial engagement the bank president had with President Bio, where an open invitation was extended for his visit to Sierra Leone. In his address, the Bank President congratulated President Bio on his recent appointment as chairperson of the ECOWAS Authority. 'Your Excellency, I want to thank you for the warm hospitality my team and I received in Sierra Leone. I also want to formally congratulate you on your position in the high office at ECOWAS.' He said. 'Your appointment is an endorsement of your leadership to deliver and the quality you have to lead the region at a time like this, when it is volatile. But we are sure that you are going to deliver,' he assured. He confirmed the Bank's commitment and full support towards ensuring that President Bio succeeds during his tenure at ECOWAS. Dr Donkor revealed that since they arrived in the country, they have met with key ministers of government and have already started conversations on key areas, including roads, tourism, infrastructure, and education, among others, noting that during their stay in the country, they will also be engaging key sector ministers for tangible investment areas. The bank president pleaded with President Bio in his capacity as Chairman of the Authority of ECOWAS Heads of State and Governance to assist the bank in ensuring it maintains its status as a non-political entity in the sub-region. This, according to the Bank, will help it develop and expand its reach, hence position itself to undertake more development projects in the sub-region. While welcoming the Bank President and team to Freetown, President Julius Maada Bio thanked the Bank President for fulfilling his promise made during their engagement on the margins the ECOWAS Summit, where he personally requested the visit in order for the bank to deepen its ties with Sierra Leone. The President expressed hope that during their visit, the bank will be able to engage several sectors, so it will identify outstanding issues that are within its scope. The President expressed his concern about regional economic integration for Sierra Leone and other countries in a wide range of areas because, according to him, 'West Africa has great potential, which we want to not only develop but also tap into for our future.' The President reaffirmed Sierra Leone's commitment to deepening its relationship with the bank, revealing that the University of Kono is one of the top priorities on his agenda, and needs to be addressed as quickly as possible. In terms of roads, President Bio said his government doesn't want to lead on mere physical infrastructure but rather, 'We want to look at both physical and digital infrastructure, as well as that of our ecotourism,' he disclosed. Distributed by APO Group on behalf of State House Sierra Leone.
Arabian Business
7 hours ago
- Arabian Business
Meta to invest ‘hundreds of billions' of dollars in advanced AI
Meta Platforms plans to invest hundreds of billions of dollars in computing infrastructure to advance its superintelligence ambitions in artificial intelligence (AI), according to Chief Executive Mark Zuckerberg. Writing on social media platform Threads, Zuckerberg said Meta would build one of the most 'elite and talent-dense teams in the industry' and had the capital from its business to support the plans. 'We're also going to invest hundreds of billions of dollars into compute to build superintelligence,' he said. Meta investing hundreds of billions in AI Superintelligence refers to a hypothetical AI system that is capable of outperforming the human brain. Zuckerberg unveiled plans for massive data centres to support the effort. One facility, called Prometheus, is expected to go online in 2026. Another, Hyperion, could eventually consume up to 5 gigawatts of power – enough to supply electricity to more than four million average US households, according to experts.
