Meta Turns to Nuclear Power to Run AI
Bloomberg's Caroline Hyde and Ed Ludlow discuss Meta's plans to buy nuclear power from Constellation Energy. Plus xAI is selling $5 billion in debt, the latest in a series of fundraising efforts across Elon Musk's business empire. And former Tesla executive Drew Baglino talks about his new startup Heron Power, aiming to upend the transformer industry. (Source: Bloomberg)
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The US taxpayer is going to be on the hook for all the soldiers, tanks, and planes that appear in Donald Trump's military parade. But several major tech companies are paying for the festivities along the parade route. According to recent statements from America250, Oracle, Amazon, Coinbase, Lockheed Martin, and Palantir are some of the highest-profile sponsors to the America250 Foundation, the congressionally appointed nonprofit in charge of raising funds to celebrate the upcoming US Semiquincentennial. Although the 250th anniversary of the signing of the Declaration of Independence will take place next year — July 4th, 2026 — America250, which is co-chaired by former US Treasury Secretary Rosie Rios and Trump's former co-campaign manager Chris LaCivita, is handling spectator logistics, as well as a festival, for the controversial military parade taking place this Saturday. 'Many of these sponsors will support the upcoming grand military parade being held in Washington, DC, on Saturday, June 14th, to celebrate the U.S. Army's 250th birthday,' reads a press release announcing new corporate partnerships from June 9th. 'As momentum builds to the 250th anniversary, these sponsors will bring essential resources, ideas, and expertise to engage all Americans in this historic milestone in the year to come.' In the weeks leading up to the parade, America250's website also listed Meta as a top-level sponsor, and a press release on May 22nd mentioned Meta as a sponsor while announcing that four major American automakers — Chrysler, Dodge, Jeep, and Ram — were now partnering with the organization. Shortly after The Verge reached out to clarify the status of Meta's involvement on Wednesday, America250 removed Meta's logo from their sponsorship page, but did not respond to a request for comment. 'While we are not currently a sponsor, we have had a historical relationship with America250, and we are actively exploring potential partnership opportunities with them in the future,' a Meta spokesperson said. Meta's potential sponsorship is notable, considering its previous relationship with America250. The tech giant had previously pledged $10 million to America250 — and was its largest funder outside of the federal government — before abruptly canceling its contract with the nonprofit in 2022. The Wall Street Journal reported at the time that the commission was mismanaging funds and engaging in sexist behavior, and Meta cited these reports, as well as concerns with 'leadership dysfunction,' as the reason for pulling out of the deal. Had they continued their partnership, Meta would have been the exclusive 'social connectivity' partner for America250 and played a major role in promoting and presenting the events surrounding the Semiquincentennial. Amazon, Palantir and Oracle did not return requests to confirm that they were sponsors. America250 did not return multiple requests for comment asking to confirm the extent to which these companies are participating in the military parade. Other companies have been more open with their affiliation. In addition to the automakers' announcement, which coincided with a social media campaign called 'America Made Us,' the cryptocurrency exchange Coinbase announced that it would partner with America250 during a live event at the 2025 Bitcoin Conference. (Coinbase did not respond to a request asking whether they were involved in 'supporting' the military parade.) Coca-Cola quoted a company vice president in its press release announcing their partnership back in March. Other corporate partners, such as Walmart, announced their commitment to America250 prior to Trump taking office. In a statement to The Verge, Lockheed Martin confirmed its sponsorship of America250, 'a landmark celebration of the bold spirit of innovation that has propelled our nation forward,' and sent a link to a page on the company's website dedicated to the America250 effort and their history in the defense industry. Palantir did not return a request for comment, but the data analytics company has a well-established relationship with the federal government and the Trump administration. Two of its cofounders, Peter Thiel and Joe Lonsdale, are major supporters of the president, and Palantir was recently tapped to compile a massive database of Americans' personal information across the federal government. Though the parade's official purpose is to celebrate the 250th birthday of the US Army, critics have pointed out that the date of the parade — June 14th — coincides with Trump's 79th birthday, and that the president had repeatedly agitated for a military parade during his first term. Regardless of its purpose, the parade, which will involve over 150 military vehicles and include Abrams tanks, will cost anywhere between $25 and $45 million, according to the most recent estimates from the US Army. (During a congressional hearing last week, Army Secretary Dan Driscoll defended the costs as 'a once-in-a-lifetime opportunity to fill up our recruiting pipeline,' and pledged to pay for any damage the tank treads might do to the District of Columbia's roadways.) America250 also lists corporate sponsors from other areas of Trump's orbit, including the UFC, owned by prominent ally Dana White; and Phorm Energy, a sub-brand of Anheuser-Busch. The National Football League is also participating in the event, hosting a 'Kids Zone' at a pre-parade festival on the National Mall. (According to press releases, the festival will also include a 'military demonstration.') Other corporations include Nextdoor, FedEx, and Scott's Miracle Gro. Several right wing-coded groups are listed as supporting partners, such as the Bill of Rights Institute and The Jack Miller Center, two research centers that have received money from groups connected to the Koch Brothers. America250 had faced accusations of corruption long before Trump returned to office, however. In 2022, four former executives filed a lawsuit against America250, claiming that the organization was a 'toxic and volatile work environment' engaged in 'cronyism, self-dealing, mismanagement of [federal] funds, potentially unlawful contracting practices and wasteful spending.' It resulted in the ouster of its then-chairman, Daniel DiLella, whom the lawsuit claimed had, among other things, been funneling lucrative contracts to personal associates and engaging in sexism against female colleagues. At the time, both America250 and DiLella disputed the claims. DiLella, who remained a commissioner, told The Washington Post that he had only asked his friends to donate $3 million to 'open the doors.'
