Latest news with #AIinfrastructure
CTV News
a day ago
- Business
- CTV News
AtkinsRéalis at the forefront of global nuclear power ‘renaissance,' CEO says
Sorry, we're having trouble with this video. Please try again later. [5006/404] The head of AtkinsRéalis says the Canadian engineering giant is taking advantage of a global shift towards nuclear power, which he believes is key to fulfilling the growing energy needs of artificial intelligence (AI) infrastructure. 'The nuclear power sector is going through a significant renaissance, with countries making announcements one after the other to triple their current nuclear power or enter the nuclear power industry' Ian Edwards, the firm's CEO, told BNN Bloomberg in an interview Friday morning. 'Clearly our business in nuclear is doing well on the back of that. We've increased our backlog in our nuclear business by 230 per cent from what it was a year ago, so (there are) a pleasing set of market conditions at the moment.' Edwards' comments came a day after the Montreal-based company, formerly known as SNC-Lavalin, released second quarter results that showed a 15 per cent year-over-year revenue increase and a record high total company backlog of more than $20 billion. AtkinsRéalis' management has made a concerted effort to simplify its business in recent years, Edwards said, while remaining a major player in the global infrastructure sector; another industry experiencing tailwinds at the moment. 'We're a global engineering company in infrastructure… around the world our markets are pretty strong. Aging infrastructure in the developed world is fuelling our business and the need for new infrastructure, particularly in the developing world, fuels our business,' he said. Amid the ongoing rebalancing of global trade triggered by U.S. President Donald Trump's tariff policies, there is also renewed interest in strategic infrastructure and nation building projects. 'Across the world, it's an interesting time for infrastructure. If you look at the U.K. and Canada now with Bill C-5, they're looking at developing a strategic infrastructure pipeline of projects,' he said. 'This is a real positive because we can see what the future looks like. We can make sure we have the capacity in human resources to do that, and it enables us to plan, so those things are really good and I'm looking forward to seeing the details, particularly of Bill C-5.' Bill C-5, the Building Canada Act, is Prime Minister Mark Carney's first piece of signature legislation. It enables Carney and his cabinet to fast-track major projects deemed to be in the national interest. The bill, which was passed into law before Parliament's summer break, has received pushback from critics including Indigenous groups who say it weakens environmental protections and sidesteps their constitutional rights. Nuclear is the AI 'solution' With expertise in infrastructure and nuclear power, AtkinsRéalis is uniquely positioned to benefit from the growing buildout of AI technology, Edwards said. 'As we know, the hyperscalers are building data centres now that could take up to a gigawatt of electricity, which has put an incredible strain on the electricity grid,' he said. 'Nuclear, we believe, is the solution to that. We're in several discussions with hyperscaler companies to see if we can sole source our nuclear technology… so that's a positive.' Shares in AtkinsRéalis were changing hands at just over $97 apiece in afternoon trading in Toronto on Friday.
Bloomberg
2 days ago
- Business
- Bloomberg
Surprise Tariff Hits Gold
Get a jump start on the US trading day with Matt Miller and Katie Greifeld on "Bloomberg Open Interest." Gold futures jump after the US confirmed tariffs on imports of gold bars, which is a major export of Switzerland. Meta announced partnerships with Pimco and Blue Owl for financing its $29B data centers, raging on an aggressive race for physical AI infrastructure. Michael Saylor, Executive Chairman of Strategy, says Bitcoin is digital gold, and the tariff on gold will only accelerate the migration to digital gold. DigitalBridge CEO joins Open Interest to discuss the demand for data centers. (Source: Bloomberg)
Entrepreneur
2 days ago
- Business
- Entrepreneur
NxtGen Launches Indigenous Open Source-Based Agentic AI Platform
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. NxtGen, a leader in sovereign cloud and AI infrastructure, today announced general availability of 'M', a next-generation open AI platform that transforms human intent into real-world outcomes using intelligent, agentic workflows. Positioned as India's alternative to ChatGPT, 'M' claims to set a new benchmark for sovereign, high-performance AI built entirely by open systems and hosted on one of India's most advanced AI infrastructure. NxtGen invites organizations of all sizes to collaborate to offer their real-world use cases for the users of "M" to enhance the access and utility of AI for all users. Named after the first sound human beings ever make, 'M' symbolizes the beginning of awareness, intelligence, and connection. It pays homage to human origin while being engineered to power the future of digital interaction. "Unlike traditional AI tools focused on conversation, "M" is a modular and action-oriented platform that empowers individuals and enterprises to automate tasks, orchestrate services, and integrate real-world workflows seamlessly and securely. NxtGen will work with organisations to enable utility for users, from scheduling medical consultation or support during an energy to booking a movie ticket and ordering food or triggering enterprise workflows. This is made possible through their own agentic middleware platform, which connects users to services via intelligent calling of best-in-class AI models and tools," the company said in a statement. At its core, 'M' uses an opensource model to analyze what the user is expecting and dynamically invokes the most appropriate open-source model for each task. This multi-model approach is transparent to the user, enabling seamless interaction across a wide range of services while preserving context, accuracy, and speed. "M" leverages opensource as a base and is architected to always leverage best available models. "Today we leverage Llama 4 models, DeepSeek 671B model for expert reasoning and logic and is possible due to NxtGen's advanced AI infrastructure. As India builds its own models and leverages AI for education, research and increased productivity, 'M' is the gateway for AI technology for the world benefit from," NxtGen said. "With 'M', we are proving that open source and agentic AI can stand shoulder-to-shoulder with any frontier closed-source model. Built on the best unquantized reasoning and Mixture-of-Experts models from the open-source community, 'M' is powered by our own agentic middleware, enabling tool calling, web search, document inference, and seamless integration with diverse business APIs. This isn't just an AI model; it's a bridge to real-world outcomes. Today, I am inviting organisations to integrate their services into 'M', so their customers can access them through natural text or voice conversations. Together, we can make open, capable, and connected AI the default for the entire world and liberate AI from the few," said Rajgopal, MD and CEO, NxtGen.
Yahoo
2 days ago
- Business
- Yahoo
Broadcom Inc. (AVGO) Announced Shipment of the Jericho4 Ethernet Fabric Router
Broadcom Inc. (NASDAQ:AVGO) is one of the . On August 4, Broadcom Inc. (NASDAQ:AVGO) announced shipment of the Jericho4 Ethernet fabric router, targeting next-generation AI infrastructure. This new Ethernet fabric router is designed to connect over one million processing units across numerous data centers. Management noted that Jericho4 offers extremely high bandwidth, advanced security with MACsec encryption, and lossless performance, ensuring data is not lost in transit. The technology supports 3.2 Tbps HyperPorts and can operate efficiently over distances longer than 100km. A technician working at a magnified microscope, developing a new integrated circuit. Moreover, Jericho4 also reduces inefficiencies by merging four 800GE links into a single 3.2T HyperPort, improving data utilization by up to 70%. This enables the company to support large-scale distributed AI and high-performance computing. Broadcom Inc. (NASDAQ:AVGO) is a technology company that designs and supplies semiconductors and enterprise software solutions. While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Reuters
2 days ago
- Business
- Reuters
SoftBank buys Foxconn's Ohio plant to advance Stargate AI push, Bloomberg News reports
Aug 8 (Reuters) - SoftBank Group Corp (9984.T), opens new tab is acquiring Foxconn Technology Group's ( opens new tab electric vehicle plant in Ohio, in a bid to launch the Japanese company's Stargate data center project, Bloomberg News reported on Friday. U.S. President Donald Trump in January announced Stargate, a private sector investment of up to $500 billion for AI infrastructure, funded by SoftBank, OpenAI and Oracle (ORCL.N), opens new tab. SoftBank, which has struggled to create a financial plan for Stargate, approached Foxconn to get the Apple (AAPL.O), opens new tab supplier on board with its plan to build data centers and related infrastructure throughout the U.S., which led to the sale of the plant, the report said, citing people familiar with the matter. The Ohio site may be used to host a data center, Bloomberg said. Reuters could not immediately verify the report. SoftBank declined to comment, while Foxconn did not immediately respond to Reuters' request for comment. The Stargate Project is expected create more than 100,000 jobs in the U.S.
