Latest news with #Abilene
Yahoo
a day ago
- Business
- Yahoo
Espinoza pushes for transparency, financial clarity in Abilene runoff campaign
ABILENE, Texas () – Miguel Espinoza Challenger Miguel Espinoza is heading into a runoff election against Incumbent Abilene City Councilmember Kyle McAlister for the Place 5 seat after neither candidate secured more than 50% of the vote in the May election. The runoff is set for June 7. McAlister battles to keep his seat in Abilene City Council runoff While Espinoza said the election was intense, he felt very supported throughout. 'What made it really nice is all my supporters were there, all my people that knew me before I even started this journey. So all those people are with me. They're encouraging. They were probably more nervous than I was, which was kind of funny, because I'm excited, you know, it's a blessing. It's a great opportunity. But just to have all my people there, that meant a lot to me,' Espinoza expressed. He anticipated that a runoff might occur with three candidates in the race. 'Having three candidates in the race, you knew that everybody's going to pull votes in their direction. A lot of it was just making sure that we had enough to force the runoff,' Espinoza explained. 'You never know what can happen, like with the voter turnout and all that. So we were excited to push it on to the next round, and hopefully we give it another good push.' Abilene People: Miguel Espinoza Throughout the runoff election, Espinoza stated that numerous campaign contributors and endorsements have been coming in. 'Anytime that you go into a runoff, you need more advertisement, more signs to really help you get over the top. My supporters came out swinging, and they came out with money to help me do that. A lot of endorsement letters to help us push not only people who came out and voted the first time, but also to hopefully get some additional voters to come out and vote for me,' Espinoza said. As Espinoza talks with residents, he notes that most people are eager for change. 'I think just in my conversations with people, they're like, you're a CPA [Certified Public Accountant]. You understand what goes on with the budget. Just here recently, there's been a massive push for financial transparency and understanding what's going on within the city, and having a CPA to really help you explain and see the accounting and somebody who knows this is where the flow of the transaction is going to help explain that that's a big deal to people,' Espinoza shared. As he observes city council meetings, he has noticed that council members tend to use the general fund for various projects. 'What my general understanding is, you know, it frees up a lot of their options, cash flow-wise, what they can do with the money. But just from a budgetary standpoint, what I've noticed, what people are… very hungry to see that allocation, to know that look, money is going there versus it kind of just sitting in the general fund. Money is going to that issue,' Espinoza said. Miguel Espinoza looks to bring fresh perspective to Abilene City Council Espinoza stated that his experience as a Certified Public Accountant (CPA) allows him to break down these complex topics easily. 'You're taking very complex federal tax law, and you're trying to explain it to a person in their business, and how that applies to them. It's a natural conversation that I have on a daily basis, so it's normal to me, because that's just the way I see the world. I see it in the debits and credits, the revenues, expenses, everything flowing, all the accounting; that's just the way I see it,' Espinoza explained. 'Whenever it comes to breaking it down for people, I'm like, Well, this is what they're spending, this is where it's going, and this is what's designated for. That's with my experience with nonprofits, too.' Since the runoff, Espinoza has engaged with many Abilene residents to better understand their needs and the town he aims to serve. 'People are excited. I'm excited. To have this opportunity is a huge blessing. But, yeah, just bringing forth energy, just more and more and more conversations you get to have, the more you get to learn about Abilene,' Espinoza expressed. 'Now, if they didn't consider you a serious candidate, they're now taking you a lot more seriously. So they're like, maybe I need to talk to this person, and let me get his perspective on a few more things. So I've had a lot of people reach out on the second kind of go-around. It's been cool to just meet more people and learn what their priorities are, and how they see the political landscape.' Abilene People: Kyle McAlister Something that came to light during the election was that Espinoza has not voted in a municipal election. He says his voting record shouldn't reflect his values and qualifications. 'I don't feel like my qualifications and my skill set reflect my voting record. So, for someone to hold that against me, that's kind of on them, for what they prioritize as a candidate for city council, that's on them to weigh. I would highly encourage people to consider my qualifications as a CPA, somebody who's very active in the community, and if you have any questions, as far as what that means, voting for a CPA, what I do for a living, all the things that I do, nonprofit wise, even at the state level, on the committees that I serve on. Those are things that I'm happy to field and make sure people know about,' Espinoza said. 'But when it comes down to my voting record, I don't feel like that should be weighed against me, especially as somebody who's as young as I am… I would encourage people to get involved in politics early on, but not everybody has that opportunity. I don't think that should be held against somebody as a negative. I think when you do get involved, I think that should be encouraged, and that should be a big positive, instead of a negative.' Espinoza emphasizes transparency, stating he is open to discussing topics of interest with anyone. 'I'm not afraid to open myself up, whether you have a question, I'm more than happy to talk about those issues, whether they're kind of relevant or kind of not. There's certain things that I'm like, 'Well, I would like to stay more focused on the relevant issues, because I feel like that's the most important thing for this election.' But I understand people having questions about your values and your standards for certain things,' Espinoza shared. 'I have no problem discussing that with people, because I want people to know who I am as a person, and I hope that kind of factors into their vote, that they know, hey, this is a person of strong work ethic, and really cares about Abilene, and who's also extremely qualified based upon my resume.' If elected, Espinoza states he would prioritize economic development as opportunities arise in the Key City. 'Abilene is in a strategic position to take advantage of a lot of economic development, and so that's kind of my big motivation for running, is to really help the city take advantage of all these opportunities that are on the table because we're in competition with all these surrounding communities for all of this investment,' Espinoza explained. 'To make sure Abilene is laying the infrastructure and doing the right thing strategically to take advantage of all this economic development that is kind of brewing here. I would love to be a part of that, because I'm going to be in Abilene for a very long time, and hopefully I can serve in serving as an example for my kids and my grandkids that, look, this is a wonderful place to live and to serve your community well, and to take part in whatever your gifts are, apply it to your community and and give back.' FULL VIDEO: Abilene City Council Forum 2025 When asked why people should take a chance on him, Espinoza responded: 'I'm somebody who's going to bring a lot of energy to the table. I'm very financially savvy, and whenever it comes to the budget and the things that really matter to the city operationally, I'm going to be a massive asset there. I think, just representation-wise, I'm going to serve the city well, and just kind of broadening the diverse skill set that's already on the current Council. I think that I'm just gonna bring forth a lot of energy, hard work, and really help the community grow.' McAlister and Espinoza will face off in the June 7 runoff election for the Place 5 seat. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
2 days ago
- General
- Yahoo
Abilene community joins forces to maintain cleanliness at local lake
ABILENE, Texas (KTAB/KRBC) – The community of Abilene came together this morning for a cleanup event at Grover Nelson Park at Tittle Lake, all in recognition of Lake Cleanup Month. Families and local organizations participated, showing their support by picking up trash and helping keep the park clean. A father at the event mentioned that his children enjoy helping out and noted that it's wonderful to lend a hand while earning a free ticket to the zoo. He also emphasized the importance of paying it forward and doing what you can for others. 'I would just say pay forward and do what you can for others, when can, you never know when you might need a blessing from the man upstairs,' said Julio Silvas. Another Abilene organization that ensures parks remain beautiful, the Abilene Preservation League, joined the event, and its director spoke with KTAB/KRBC. 'We're happy to contribute and get back and give to that organization. It's kind of funny; when we saw a piece of trash, and we can just pick it up and make the place more beautiful,' Payne said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Geeky Gadgets
3 days ago
- Business
- Geeky Gadgets
Inside OpenAI's $500 Billion Stargate AI Megafactory with Sam Altman
What does it take to build the future of artificial intelligence? Imagine a sprawling 1,200-acre facility in Abilene, Texas, humming with the power of 400,000 GPUs, each working tirelessly to train the next generation of AI models. This is Stargate, OpenAI's audacious $500 billion project, a megafactory designed to meet the insatiable computational demands of artificial general intelligence (AGI). Backed by tech giants like Oracle and SoftBank, Stargate is more than just a data center—it's a bold statement in the global race to dominate AI innovation. But as the world marvels at its scale and ambition, questions loom: Can such a colossal endeavor balance technological progress with environmental and economic responsibility? Bloomberg steps inside a Stargate AI Megafactory to uncover its new infrastructure, its potential to transform industries, and the controversies it stirs. From its innovative cooling systems aimed at reducing resource strain to its role in reshaping Abilene's economy, Stargate offers a microcosm of the promises and perils of large-scale AI development. Along the way, you'll discover how OpenAI is positioning itself against rivals like Google and Microsoft, and why this project has become a flashpoint in the global AI arms race. As we peel back the layers of this megafactory, one question persists: Will Stargate be remembered as a triumph of human ingenuity or a cautionary tale of unchecked ambition? OpenAI's Stargate Overview What is Stargate? Stargate is a new initiative designed to meet the growing needs of AI infrastructure. Spanning an impressive 1,200 acres in Abilene, Texas, the project's first phase will feature eight colossal buildings equipped with 400,000 GPUs. These GPUs, primarily sourced from Nvidia, will serve as the foundation for training and deploying advanced AI models, including those aimed at achieving AGI—a milestone where AI systems can reason, learn, and solve problems with human-like proficiency. This ambitious project places OpenAI in direct competition with major technology companies like Microsoft, Google, Meta, and Amazon, all of whom are striving to lead the AI revolution. The scale of Stargate underscores the increasing reliance on computational power as AI becomes integral to industries ranging from healthcare to finance. By investing in such a massive infrastructure, OpenAI is positioning itself at the forefront of AI innovation, but it also faces scrutiny over the sustainability and efficiency of this approach. Competitors like DeepSeek are exploring alternative methods to achieve similar results with more efficient AI models, challenging the necessity of projects on Stargate's scale. Economic Impact on Abilene The Stargate project is poised to bring significant economic changes to Abilene, Texas. Local authorities have offered substantial tax incentives, including an 85% property tax abatement, to attract this massive investment. These incentives are expected to stimulate economic activity, create jobs, and potentially transform the region into a hub for technological innovation. However, the exact number of permanent jobs the project will generate remains uncertain, raising questions about the long-term benefits for the local community. For residents, Stargate represents a mix of opportunities and challenges. On one hand, the project could drive economic growth, increase property values, and attract ancillary businesses to the area. On the other hand, concerns about environmental costs, equitable distribution of benefits, and the potential strain on local resources have sparked debates. The project's success in fostering sustainable economic development will depend on how these trade-offs are managed. OpenAI Stargate Megafactory Tour with Sam Altman Watch this video on YouTube. Here is a selection of other guides from our extensive library of content you may find of interest on AI infrastructure. Environmental Challenges and Sustainability AI data centers like Stargate are notorious for their high resource consumption, particularly in terms of energy and water. To address these concerns, Stargate plans to implement a closed-loop water cooling system designed to minimize water usage while maintaining optimal GPU performance. This system reflects an effort to mitigate the environmental impact of the project, but it does not eliminate broader concerns about the sustainability of large-scale AI infrastructure. The energy demands of Stargate are another critical issue. While efforts are being made to incorporate renewable energy sources, much of the power required for such facilities still comes from fossil fuels. This reliance raises questions about the environmental footprint of AI growth, especially as global climate goals become increasingly urgent. The project highlights the tension between technological advancement and environmental responsibility, emphasizing the need for innovative solutions to balance these priorities. Global Competition and Geopolitical Implications Stargate is not just a technological endeavor; it is also a strategic move in the global race to dominate AI infrastructure. Countries like China are making significant investments in similar projects, intensifying competition and raising the stakes for technological leadership. This race is further complicated by supply chain dependencies on critical materials and semiconductors, many of which are sourced from regions like Taiwan and China. To address these challenges, the United States has introduced initiatives such as the CHIPS Act, aimed at boosting domestic semiconductor manufacturing and reducing reliance on foreign suppliers. These measures are designed to secure the supply chain while fostering collaboration with allied nations. Stargate, as part of this broader strategy, underscores the geopolitical dimensions of AI development and the importance of maintaining a competitive edge in this rapidly evolving field. Risks, Challenges, and Future Prospects The construction and operation of a project as vast as Stargate come with inherent risks and challenges. OpenAI has already reported significant financial losses, raising concerns about the long-term profitability and sustainability of such large-scale investments. Additionally, the rapid pace of AI development brings ethical dilemmas, including the potential for job displacement, misuse of advanced AI technologies, and the societal implications of AGI. Despite these challenges, Stargate holds the potential to reshape industries, accelerate scientific discovery, and create entirely new categories of employment. Comparisons have been drawn to fantastic infrastructure projects like the interstate highway system, which transformed economies and societies. Similarly, Stargate could drive global economic transformation, provided its benefits are distributed equitably and its risks are effectively managed. The project also raises important questions about regulation and governance. As AI continues to evolve, making sure that its development aligns with societal values and ethical standards will be crucial. Stargate's success will depend not only on its technological achievements but also on its ability to address these broader concerns. The Significance of Stargate in the AI Landscape Stargate represents a pivotal moment in the evolution of AI infrastructure. It embodies the intersection of technological ambition, economic development, and environmental sustainability, offering a glimpse into the future of innovation. As the global race for AI supremacy intensifies, projects like Stargate will play a critical role in shaping the trajectory of technology and its impact on society. Whether Stargate achieves its ambitious goals or becomes a cautionary tale of overreach remains to be seen. However, its significance in the AI landscape is undeniable. By addressing the challenges of scalability, sustainability, and ethical responsibility, Stargate has the potential to set a new standard for AI infrastructure and redefine what is possible in the era of artificial intelligence. Media Credit: Bloomberg Originals Filed Under: AI, Top News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
Yahoo
26-05-2025
- Business
- Yahoo
Newmark Facilitates $7.1 Billion Construction Loan to Develop AI Data Center
NEW YORK, May 22, 2025 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the company arranged a $7.1 billion construction loan for Blue Owl Capital, Inc., Crusoe and Primary Digital Infrastructure. The loan, provided by a consortium led by J.P. Morgan, will fund the second phase of a $15 billion joint venture to fund a 1.2-gigawatt AI data center in Abilene, Texas. Newmark's Co-President of Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani and Managing Director Ben Kroll arranged the funding, in collaboration with Head of Data Center Capital Markets Brent Mayo, Co-Head of U.S. Capital Markets Doug Harmon and Co-Head of Strategic Advisory Andrew Warin. "We are proud to advise on this landmark transaction between Crusoe, Blue Owl, and Primary Infrastructure, which represents a significant milestone in the evolution of sustainable digital infrastructure," said Roeschlaub. "This partnership not only validates Crusoe's innovative approach to energy and computing but also highlights the growing role of infrastructure capital in enabling next-generation technologies." "This funding solution represents a pivotal step forward in delivering next-generation digital infrastructure at a scale and speed that meets the demands of AI innovation," said Mayo. "Newmark played a critical role in structuring and securing the capital required to bring this transformative project to life, aligning innovative operators with long-term institutional partners." Under the terms of the joint venture, Crusoe in combination with funds managed by Blue Owl's Real Assets platform along with Primary Digital Infrastructure will jointly sponsor the construction of six new buildings, which will bring the center to eight buildings upon completion. Construction of the first phase, comprising two buildings and 200+ megawatts, began in June 2024 and is expected to be energized in the first half of 2025. Construction of the second phase, consisting of the six additional buildings and a total of 1.2 gigawatts, began in March 2025 and is expected to be energized in mid-2026, setting a new bar for the speed of delivery for greenfield, hyperscale digital infrastructure projects. Newmark also acted as strategic advisor on the first phase, securing both equity and debt financing. About Crusoe:Crusoe is on a mission to align the future of computing with the future of the climate. Crusoe provides a reliable, scalable, cost-effective, and environmentally friendly solution for AI infrastructure by harnessing large-scale clean energy, building AI-optimized data centers, and empowering builders to reach their AI potential. Crusoe is empowering the AI revolution. To learn more, visit About Blue Owl:Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®.With $273 billion in assets under management as of March 31, 2025, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Assets. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital with over 1,200 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit About Primary Digital InfrastructurePrimary Digital Infrastructure is an advisory and investment platform that accelerates the growth of hyperscaler and AI-driven data centers. Founded by industry pioneers Bill Stein, David Ferdman, Peter Hopper, and John Sheputis, Primary Digital Infrastructure provides flexible capital solutions to premier data center owners and operators—including recapitalizations, outright acquisitions, and forward takeouts. The firm empowers operators to unlock capital, fuel expansion, and meet the rising demand for next-generation digital infrastructure. To learn more, visit About NewmarkNewmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit or follow @newmark. Discussion of Forward-Looking Statements about NewmarkStatements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K. View original content to download multimedia: SOURCE Newmark Group, Inc. 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
24-05-2025
- General
- Yahoo
Memorial Day brings remembrances of those who served and those who gave all
In a cemetery unknown to many, five veterans buried there were remembered Friday. While acknowledging Memorial Day is held to remember those who gave their lives in the service of their nation, a small group assembled at Colony Hill Cemetery to remember the former military personnel buried there. 'This is our way of saying thank you for everything that they've done,' said Rich Lyles, who organized the small ceremony. Joining him were his daughter Sadé, along with Kenny Heaton and Manzel McGhee of the Small Business Development Center in Abilene. "You know, it's important that we remember our fallen, and this cemetery, you know, I had no idea it was here," said McGhee, an Air Force retiree. "This is important. I'm going to pass this on to my fellow veterans and let them know; that way maybe they'll include this cemetery in the future when they do their wreath layings." Located opposite 3420 FM 1750, about halfway between Colony Hill Road and Hardison Lane, the oldest grave in the cemetery appears to be from 1889. The five veterans buried here are William Samuel Beam III, Henry 'Mit' Milford Day, D. McDougald, and Clarke Putnam Orr. Some died as early as 1914 while others were as recent as 2015. Monday at 11 a.m. will see a larger Memorial Day ceremony at Abilene's Texas State Veterans Cemetery at 7457 W. Lake Road. Parking usually extends onto the road outside the cemetery so an early arrival is recommended. The observance will be hosted by the Dyess Chiefs Group and will feature the Abilene Community Band, West Texas Patriot Guard Riders, the Dyess Air Force Base Honor Guard, and Big Country One flyover. This article originally appeared on Abilene Reporter-News: Memorial Day remembers those who served and those who gave all
