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Business Insider
2 hours ago
- Business Insider
AI Daily: Big Tech AI push seen spiking electricity bills
Catch up on the top artificial intelligence news and commentary by Wall Street analysts on publicly traded companies in the space with this daily recap compiled by The Fly: Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. AI PUSH: Just a few years ago, tech companies were minor players in energy, but are now changing the face of the U.S. power industry and are morphing into some of the sector's most dominant players, Ivan Penn and Karen Weise of The New York Times reports. With the rise of AI, tech companies are becoming even more involved in the sector, with Amazon (AMZN) CEO Andy Jassy recently noting the 'single biggest constraint' of AI is power. The AI boom, however, threatens to increase power bills for residents and small businesses across the country since data centers will require expensive upgrades to the electric grid. Other big tech companies in the sector include Microsoft (MSFT), Meta (META), and Google (GOOGL). AI POLICIES: Two Republican U.S. senators are calling for a congressional investigation into Meta after Reuters reported on an internal policy document that permitted the company's chatbots to 'engage a child in conversations that are romantic or sensual,' Jody Godoy reports. Meta confirmed the document's authenticity, but says it removed portions which stated it is permissible for chatbots to flirt and engage in romantic roleplay with children after receiving questions earlier this month from Reuters. INTEL STAKE: The Trump administration is considering using funds from the Chips Act to take a stake in Intel (INTC), Joe Deaux, Ryan Gould, Mackenzie Hawkins and Josh Wingrove of Bloomberg report, citing people familiar with the discussions. The government is in talks to use Chips Act funding to at least partially finance an equity stake in Intel, and it is unclear if this would involve converting Intel's existing Chips Act grants into equity or allocating new funding, sources told Bloomberg.
Yahoo
4 hours ago
- Yahoo
NEAR Protocol Faces Heavy Institutional Selling, Recovers Slightly Amid Ongoing Volatility
NEAR Protocol saw heightened volatility in the 24 hours ending August 14 at 14:00 UTC, with prices fluctuating between $2.78 and $3.05 before settling at $2.82. The decline from the $3.05 resistance to $2.75 support was driven by heavy institutional selling, totaling nearly 20 million tokens during peak pressure. Despite this, the asset's fundamentals remain strong, supported by a sizable active user base of 16 million weekly participants. In the hour following the selloff, NEAR gained 0.35% to $2.83, trading within a controlled $0.07 range between $2.81 and $2.85. Key institutional buying appeared at several intervals, helping the token breach short-term resistance at $2.83–$2.84 and reach session highs of $2.85. Trading volume eased to roughly 100,000 tokens per minute, suggesting accumulation rather than speculative retail activity, with preliminary support forming near $2.81–$2.82. NEAR Protocol recorded substantial price volatility with a $0.26 trading range representing 8.53% movement between the session high of $3.05 and low of $2.78. The cryptocurrency initially demonstrated upward momentum from $2.90 to reach $3.05 during evening trading hours, establishing technical resistance at the $3.04-$3.05 level. Significant institutional selling occurred during August 14 between 12:00-13:00 UTC with exceptional trading volumes of 19.99 million and 12.22 million tokens respectively. Daily trading activity substantially exceeded the 24-hour average of 5.47 million tokens, reflecting heightened institutional selling pressure. Market price declined to $2.75 before corporate buying interest supported a recovery to $2.82 at session close. High-volume institutional selling patterns suggest potential continued downside risk despite modest recovery attempts, according to market strategists. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. 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
- Yahoo
Meta plans fourth restructuring of AI efforts in six months, The Information reports
(Reuters) -Meta is planning its fourth overhaul of artificial intelligence efforts in six months, The Information reported on Friday, citing three people familiar with the matter. The company is expected to divide its new AI unit, Superintelligence Labs, into four groups: a new "TBD Lab," short for to be determined; a products team including the Meta AI assistant; an infrastructure team; and the Fundamental AI Research (FAIR) lab focused on long-term research, the report said, citing two people. Meta did not immediately respond to a request for comment. Reuters could not independently verify the report. As Silicon Valley's AI contest intensifies, CEO Mark Zuckerberg is going all-in to fast-track work on artificial general intelligence — machines that can outthink humans — and help create new cash flows. Meta recently reorganized the company's AI efforts under Superintelligence Labs, a high-stakes push that followed senior staff departures and a poor reception for Meta's latest open-source Llama 4 model. The social media giant has tapped U.S. bond giant PIMCO and alternative asset manager Blue Owl Capital to spearhead a $29 billion financing for its data center expansion in rural Louisiana, Reuters reported earlier this month. In July, Zuckerberg said Meta would spend hundreds of billions of dollars to build several massive AI data centers. The company raised the bottom end of its annual capital expenditures forecast by $2 billion, to a range of $66 billion to $72 billion last month. Rising costs to build out data center infrastructure and employee compensation costs — as Meta has been poaching researchers with mega salaries — would push the 2026 expense growth rate above the pace in 2025, the company has said.