Latest news with #datacenters
Russia Today
2 hours ago
- Business
- Russia Today
AI fueling energy price rises in US
Booming demand from artificial intelligence (AI) has been driving up electricity costs in the US, the Financial Times has reported, citing the country's largest grid operator (PJM). The surge is at odds with President Donald Trump's pledge to deliver more affordable energy for American households. Power use is being pushed higher by energy-hungry AI data centers, especially in Virginia's 'data center alley'. In particular, the demand for AI computing has exploded since ChatGPT became a household name, putting growing pressure on the grid. Experts say the boom, along with delays in new power projects and shutdowns of older plants, is forcing utilities to spend heavily on infrastructure. The PJM grid, which serves 65 million people across 13 states and Washington DC, said on Tuesday it will pay power producers $16.1 billion to meet expected demand between mid-2026 and mid-2027 – a 10% increase on last year. Customers are expected to see bills rise by up to 5%. The pressure is a blow to Trump's repeated vow to slash household energy bills by half. Labor Department data shows electricity prices rose 5.6% over the past year, while overall inflation stood at 2.7%. 'It's unpleasant for ratepayers,' Timothy Fox from ClearView Energy Partners told the FT, adding that 'higher auction prices will result in higher bills for customers.' PJM introduced a cap after prices soared 800% last year. The auction sets payments for producers to supply power during peak demand, helping avoid blackouts. However, this year's result still came in near the ceiling – at over $329 per megawatt-day. Rising costs add to inflationary pressure from Trump's own policies – including global tariffs and his so-called 'big, beautiful' infrastructure bill, both of which have added to the burden on American households. Analysts warn the power crunch will intensify. PJM projects a 32-gigawatt jump in demand by 2030 – nearly all of it from data centers. Tech giants such as Amazon are already scouring the grid for extra capacity, helping drive prices even higher.
Yahoo
2 hours ago
- Business
- Yahoo
EQT Earnings: Strong Production
Key Points EQT beat expectations for adjusted earnings per share in the second quarter. The company boosted its sales volume outlook for 2025 due to the Olympus acquisition. EQT is well positioned to benefit from booming demand for power from AI data centers. 10 stocks we like better than EQT › Here's our initial take on EQT's (NYSE: EQT) financial report. Key Metrics Metric Q2 2024 Q2 2025 Change vs. Expectations Production-adjusted revenue $1.18 billion $1.60 billion +36% n/a Earnings per share (adjusted) ($0.08) $0.45 n/a Beat Sales volume 508 Bcfe 568 Bcfe +12% n/a Average realized price per Mcfe $2.33 $2.81 21% n/a Strong Production and Lower Costs EQT beat expectations for adjusted profit in the second quarter of 2025, with high levels of production coupled with lower capital spending. EQT reported sales volume of 568 Bcfe, up 12% year over year, thanks to solid well performance and compression projects. Capital spending was $554 million in the quarter, 15% below the midpoint of the company's guidance. Efficiency gains and midstream project optimizations drove the unexpectedly low capital spending total. EQT closed its acquisition of Olympus Energy's upstream and midstream assets on July 1. While there was no contribution from Olympus in EQT's second-quarter results, the company boosted its full-year production guidance by 100 Bcfe to account for the acquisition. EQT also recently signed a deal to be the exclusive provider of midstream infrastructure for a large-scale natural gas power plant in West Virginia. Average realized price shot up 21% to $2.81 per Mcfe in the second quarter, while production-adjusted revenue rose 36% to $1.6 billion. "We are seeing tremendous momentum for in-basin natural gas power and data center demand and EQT is uniquely positioned to capitalize on this set up due to our production scale, inventory duration, world-class integrated infrastructure, investment grade credit ratings, and low emissions credentials," said CEO Toby Rice. Immediate Market Reaction Shares of EQT were up around 1% in after-hours trading on Tuesday. While the company beat analyst estimates for adjusted earnings and reported strong production-adjusted revenue growth, it wasn't enough to push the stock meaningfully higher. Going into the report, EQT stock was up about 18% year to date. What to Watch EQT boosted its full-year sales volume outlook to a range of 2,300 Bcfe to 2,400 Bcfe to reflect the Olympus acquisition. The company also lowered its per-unit operating costs outlook by $0.06 per Mcfe to a range of $1.03 to $1.17 per Mcfe to account for the benefits of the Olympus deal. EQT plans to turn-in-line between 95 and 120 net wells for the full year. The company's capital-spending plans were kept unchanged, with efficiency gains being offset by spending associated with Olympus. EQT expects capital spending between $2.3 billion and $2.45 billion in 2025. With demand for electricity for data centers rising thanks to AI, EQT is in a great position to capitalize on that trend and grow production as the AI boom continues. Helpful Resources Full earnings report Investor relations page Should you buy stock in EQT right now? Before you buy stock in EQT, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and EQT wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $641,800!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,023,813!* Now, it's worth noting Stock Advisor's total average return is 1,034% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Timothy Green has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends EQT. The Motley Fool has a disclosure policy. EQT Earnings: Strong Production was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Business
- Yahoo
Oklo and Vertiv Announce Collaboration to Advance Power and Cooling Solutions for Hyperscale and Colocation Data Centers in the United States
Innovative Clean Energy Partnership Addresses Critical Data Center Power and Cooling Challenges SANTA CLARA, Calif., July 22, 2025--(BUSINESS WIRE)--Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, and Vertiv (NYSE: VRT), a global leader of critical digital infrastructure, today announced a collaboration agreement focused on the co-development of advanced power and thermal management solutions tailored specifically for hyperscale and colocation data centers, powered by steam and electricity from Oklo's advanced nuclear power plants. The pilot technology demonstration is planned for the initial Oklo Aurora powerhouse. In response to surging data center power demand in the U.S., Oklo and Vertiv are joining forces to revolutionize data center operations through an integrated solution that co-optimizes power and cooling, with Oklo's reliable clean energy generation and Vertiv's specifically designed advanced power and thermal management systems. By leveraging heat from Oklo's onsite power plant to drive Vertiv's cooling systems, the collaboration will significantly enhance data center energy efficiency. This approach delivers resilient power for demanding AI and high-performance computing operations while reducing environmental impact. The companies will work together to produce end-to-end reference designs for data centers that use Oklo's onsite power plants. "This agreement is about delivering clean power, energy-efficient cooling, and infrastructure solutions purpose-built for AI factories, data centers, and high density compute," said Jacob DeWitte, Co-Founder and CEO of Oklo. "We are developing a plant concept that leverages proven, off-the-shelf components without altering the core design of our plants. Vertiv is an expert in cooling and power innovation for data centers and critical infrastructure, so co-designing these solutions from the outset, we can create greater value and efficiency for data center and infrastructure operators." Vertiv CEO Gio Albertazzi stated, "Our collaboration with Oklo is an extension of Vertiv's commitment to energy-efficient infrastructure that supports modern data center demands. As the demand for AI and high-performance computing continues to grow, nuclear energy is increasingly a discussion point for hyperscale, colocation, and other large data centers. Vertiv is committed to driving innovation with the higher cooling capacities and energy efficiencies required to support modern data centers." Oklo's approach to power generation is designed to adapt quickly to market needs, offering customers more usable energy and enabling seamless teamwork between the power source and data center operations. By co-designing energy and thermal management from the beginning, and by deploying at a site adjacent to customer demand, Oklo and Vertiv will deliver a unified solution that simplifies deployment and enables improved performance and energy efficiency of data centers. These capabilities are uniquely enabled by Oklo's role as the owner and operator of its power plants, allowing for deeper integration with customer infrastructure and greater flexibility in how and where data centers are deployed. "This partnership shows how Oklo is thinking about how and where advanced nuclear can be deployed," added DeWitte. "We're enhancing what already works to meet the needs of fast-growing industries with the speed, flexibility, and direct integration that our model is built to deliver." This collaboration marks an important step in exploring how advanced nuclear energy can support the evolving power and cooling needs of data centers and other high-growth sectors, an increasing emphasis in Oklo's growing customer pipeline. About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, and affordable energy at scale, establishing a domestic supply chain for critical radioisotopes, and advancing nuclear fuel recycling to convert nuclear waste into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and national laboratories. About Vertiv Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers' vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today's data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Forward-Looking Statements This press release includes statements that express Oklo's opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements." The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning, among other things, the benefits of the DOE's Voucher Program, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo operates. Such forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Oklo's future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the deployment of Oklo's powerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating, regulatory uncertainties; the potential need for financing to construct plants, market, financial, political and legal conditions; the effects of competition; the risk that the DOE's Voucher Program fails to produce the expected benefits; changes in applicable laws or regulations; and the outcome of any government and regulatory proceedings and investigations and inquiries. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release and in any document incorporated by reference are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Forward-looking statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act. These statements are only a prediction. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Readers are referred to Vertiv's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning Vertiv and its operations. Vertiv is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Category: Financial News View source version on Contacts Media and Investor Contact for Oklo: Bonita Chester, Head of Communications and Media at media@ Investor Contact: Sam Doane, Director of Investor Relations at investors@ For investor inquiries, please contact:Lynne MaxeinerVice President, Global Treasury & Investor RelationsVertivE: For media inquiries, please contact:Antonia CaamanoRuder Finn for VertivE: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
6 hours ago
- Business
- CNA
TE Connectivity projects robust fourth quarter, reports upbeat quarterly results
TE Connectivity issued an upbeat forecast for the fourth quarter on Wednesday, following better-than-expected third-quarter profit and revenue results driven by strong demand for its industrial products. The company's industrial solutions segment makes electrical connector systems and components used in factory automation and other industrial equipment. Third-quarter sales in the industrial solutions segment surged about 30 per cent year-on-year, bolstered by increased demand for artificial intelligence applications and modern data centers. CEO Terrence Curtin told Reuters in an interview that the impact of tariffs on overall sales during the third quarter was reduced by half due to price increases and supply chain adjustments. "When we gave our guidance last quarter, we told our investors that we thought it would be about a 3 per cent impact of sales. It was only 1.5 per cent, so it was about half," Curtin said. U.S. President Donald Trump's tariffs have weighed on automotive and manufacturing industries, prompting companies to implement mitigation strategies related to pricing and supply chain management. TE Connectivity expects a 1.5 per cent sales impact from tariffs in the fourth quarter, with its industrial segment expected to bear a greater share of the burden compared to its transportation segment. The company expects fourth-quarter revenue of about $4.55 billion, exceeding analysts' average estimate of $4.41 billion, according to data compiled by LSEG Adjusted profit per share for the quarter is projected at $2.27, compared with analysts' expectations of $2.13 per share. For the third quarter ended June 27, TE Connectivity reported adjusted profit of $2.27 per share, beating analysts' estimates of $2.07.
Reuters
6 hours ago
- Business
- Reuters
TE Connectivity projects robust fourth quarter, reports upbeat quarterly results
July 23 (Reuters) - TE Connectivity (TEL.N), opens new tab issued an upbeat forecast for the fourth quarter on Wednesday, following better-than-expected third-quarter profit and revenue results driven by strong demand for its industrial products. The company's industrial solutions segment makes electrical connector systems and components used in factory automation and other industrial equipment. Third-quarter sales in the industrial solutions segment surged about 30% year-on-year, bolstered by increased demand for artificial intelligence applications and modern data centers. CEO Terrence Curtin told Reuters in an interview that the impact of tariffs on overall sales during the third quarter was reduced by half due to price increases and supply chain adjustments. "When we gave our guidance last quarter, we told our investors that we thought it would be about a 3% impact of sales. It was only 1.5%, so it was about half," Curtin said. U.S. President Donald Trump's tariffs have weighed on automotive and manufacturing industries, prompting companies to implement mitigation strategies related to pricing and supply chain management. TE Connectivity expects a 1.5% sales impact from tariffs in the fourth quarter, with its industrial segment expected to bear a greater share of the burden compared to its transportation segment. The company expects fourth-quarter revenue of about $4.55 billion, exceeding analysts' average estimate of $4.41 billion, according to data compiled by LSEG Adjusted profit per share for the quarter is projected at $2.27, compared with analysts' expectations of $2.13 per share. For the third quarter ended June 27, TE Connectivity reported adjusted profit of $2.27 per share, beating analysts' estimates of $2.07. Revenue for the quarter rose 14% to $4.53 billion, compared with estimates of $4.32 billion.
