Surge of Successful Tech IPOs Gives Hope to Silicon Valley Startups
AI megaproject: OpenAI is helping G42, an AI company backed by the United Arab Emirates' sovereign wealth fund, build a massive data center under its 'Stargate' brand in Abu Dhabi.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fox News
4 minutes ago
- Fox News
Why AI is causing summer electricity bills to soar
If your electricity bill seems shockingly high, you're not imagining it. A big part of the spike is being driven by rising artificial intelligence electricity demand. PJM Interconnection, the largest power grid operator in the United States, says electricity usage is climbing sharply this summer. Some areas may see bills increase by as much as 20%. One of the main drivers behind this trend is the growing power consumption from data centers that support AI systems like ChatGPT and other generative tools. Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide — free when you join my PJM supplies electricity to 67 million customers across 13 states: Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia, as well as the District of Columbia. It manages a vast and complex network of power distribution. This summer, the grid is showing signs of strain. In just the past year, data centers running AI have started using much more electricity. These centers can consume up to 30 times more power than traditional data centers. Most of them are connected to the same grid that serves homes and businesses, which means the cost of that power growth is shared by everyone. AI took off in 2023 when tools like ChatGPT became widely adopted. Since then, companies have been racing to build more infrastructure to keep up. PJM's territory now has the largest number of data centers in the world. Between 2024 and 2025, electricity demand from AI and data centers in the PJM region contributed to a $9 billion increase in power costs. PJM expects peak usage this summer to reach over 154,000 megawatts, with the potential to exceed all-time records during heat waves or emergencies. While demand is rising quickly, the power supply is not keeping up with the pace. Many fossil fuel plants are shutting down due to state regulations, aging infrastructure or market conditions. More than 9,000 megawatts of coal capacity will retire or convert to gas in 2025 alone. Clean energy options like wind and solar are often the cheapest ways to add new power, but developers are struggling with permitting delays, rising costs and a loss of federal incentives. For example, the 30% federal solar tax credit for homeowners will end after 2025. That change is already slowing down new installations. Even if you never use AI tools yourself, you are still likely paying for their growth. The cost of expanding the data center's power supply is spread across all grid users, including regular households. PJM customers have been warned to expect electric bills to increase by $25 or more per month. Commercial users may see prices climb nearly 30%. To help prevent rolling blackouts, PJM is rolling out demand response programs that pay large businesses to temporarily reduce their electricity use during periods of extreme demand. Still, if electricity usage exceeds 166,000 megawatts, some regions may not have enough reserve power to maintain reliability. Looking for ways to lower your electricity bill as prices surge? Here are some effective tips you can start using today: For more tips and expert advice, check out the 7 best ways to save money on your electricity bill AI electricity demand is growing faster than the grid can handle. As more data centers come online to power tools like ChatGPT, the strain is showing up on your utility bill. Without major upgrades to infrastructure or smarter energy policy, prices could keep climbing. The tech may be smart, but the cost of keeping it running is getting harder for everyone else to ignore. Have your electricity bills gone up recently? Let us know by writing us at Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide — free when you join my Copyright 2025 All rights reserved.
Fox News
4 minutes ago
- Fox News
Expert touts Trump's AI push: 'Best step this country could have taken'
Rhombus Power Inc. founder and CEO Anshuman Roy joins 'Fox News Live' to weigh in the U.S. push to accelerate AI development.
Skift
an hour ago
- Skift
Etihad Airways CEO Unpacks Big Bet on Small Jets
Etihad is hoping to outmaneuver its Gulf rivals with 30 small but premium aircraft. Will passengers buy the promise of private jet-like luxury? In a region known for flying enormous 777s and double-decker A380s, Etihad's newest star is a single-aisle jet. The Gulf carrier took delivery of its first Airbus A321LR this week, a long-range variant of a plane more typically used for short economy-focused flights. The UAE airline is betting on the new aircraft to supercharge its network growth and broader brand revival. As Etihad CEO Antonoaldo Neves told Skift: 'Today we show the world we're back in the game, and specifically back in the premium game.' That game involves an aircraft type already familiar to many travelers. The A321LR, an evolution of Airbus' best-selling narrowbody, is new-generation, but not exactly groundbreaking. JetBlue took delivery of its first in 2021, while Aer Lingus, Air Transat, and SAS are among others to use the jet on short transatlantic hops. But it's the speed and scale at which Etihad is adding the A321LR – along with its distinctive three-class configuration – that is piquing industry interest. 30, Not 20, A321LRs on the Way Speaking at a media briefing at Airbus' Finkenwerder factory in Germany, Neves left reporters scrambling for their notes. What was meant to be a tranche of 20 A321LRs became a throng of 30. Asked for clarity on the 50% increase, Neves quipped: 'You guys are reading the wrong newspaper.' Through a mix of leased aircraft and direct orders, Etihad will now receive 30 A321LRs over the next four years. A steady flow should result in 10 deliveries by the end of 2025, followed by another 10 the next year, then five each in 2027 and 2028. From the airline's Abu Dhabi hub, the long-range jets will fly as far afield as Paris and Hanoi. Journey tim
