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Yahoo
5 days ago
- Business
- Yahoo
Meta's Nuclear Deal Underscores the Looming Gap for AI's Power Needs
(Bloomberg) -- Meta Platforms Inc.'s flashy deal this week for nuclear power was just the latest sign of the technology industry's need for more energy — and fast. And while the top US reactor companies are eager to sign more contracts, the big question remains: Will new generation come online quickly enough? ICE Moves to DNA-Test Families Targeted for Deportation with New Contract The Global Struggle to Build Safer Cars NYC Residents Want Safer Streets, Cheaper Housing, Survey Says The Buffalo Architect Fighting for Women in Design Data-center demand is rapidly disrupting the power grid as tech companies clamor for electricity to run artificial intelligence. That's revealing a fundamental mismatch with the energy industry, which typically requires years or decades to plan and build new power plants. Even with a few recent high-profile nuclear deals, it's becoming clear that the existing fleet of reactors will be unable to meet the surging demands from this first wave of the AI boom. It's been more than a decade since the US last broke ground on a large-scale nuclear power plant that came online. And while there's talk of restarting a few shuttered plants and upgrades at ones that are already in operation, that's still not going to be enough to generate the amount of power that AI will demand. In fact, it's not clear if any power source will be adequate, according to Adam Stein, director of the Breakthrough Institute's nuclear energy innovation program. 'There's not going to be enough electricity, in general, to make the tech industry happy in the next few years,' Stein said. Building out new nuclear is possible with 'enough pre-planning and a supply chain in place. Unfortunately, at this moment, we don't have that,' he said. Nuclear is especially well suited for technology companies with ambitious climate goals because it's a clean-energy source that runs around the clock, unlike intermittent wind and solar. But there's a finite number of conventional reactors in the US — 94 to be precise — and no new ones are currently planned. The US atomic industry is also notorious for project delays and running over budget. Meanwhile, dozens of companies are developing new reactor designs that are expected to be faster and cheaper to build, but they are years away from commercial availability. Power demand in the US is expected to soar as much as 15% in some regions by the end of the decade, and data centers are a key driver. Texas alone has said it will need the equivalent of 30 conventional nuclear reactors to meet the growing demand from AI. That will easily outstrip the capacity of the grid. 'The acceleration of AI is pushing our energy infrastructure to the limit,' said Syed Bahauddin Alam, an assistant professor of nuclear, plasma and radiological engineering at the University of Illinois Urbana-Champaign. What's happening now is the first wave of AI, according to Alam. Algorithms that were developed in the early 2020s are being deployed now, with the goal of testing and perfecting the models' ability to think and solve problems. That may run through 2030 to 2035, and will require vast amounts of energy. More nuclear may be available, but not until 'the tail end of the first wave,' Alam said. That hasn't stopped tech companies from seeking partnerships to secure nuclear power. Constellation Energy Corp., the biggest US nuclear operator, this week agreed to sell power from an Illinois nuclear plant to Meta in a 20-year contract that's likely to start in mid-2027. That came after the company in September said it would spend $1.6 billion to restart the shuttered Three Mile Island reactor in Pennsylvania to deliver power to Microsoft Corp. Constellation said it can do more such deals. It has several other reactors receiving subsidies that are set to expire in the next several years, and it is already in talks with multiple potential customers that are eager to follow Meta's example, said Chief Financial Officer Daniel Eggers. The company is also planning upgrades at several existing plants that could add the equivalent of an entire new reactor. 'We have a lot of capacity that would be available,' Eggers said. 'If a customer wanted to procure that output, we could do that.' But it's not clear that will be enough, at least for the next several years, according to Chris Gadomski, an analyst with BloombergNEF. He warned at an event in April that slow project deployment and a lack of construction today signal that nuclear is likely to miss the first wave of power demand from hyperscalers. Moving forward, one of the key factors for the industry will be the availability of federal funding. Nuclear reactors are incredibly expensive to build, and even next-generation cheaper models would benefit from government support. This week, details of the Trump administration's fiscal year 2026 budget request showed that it plans to use a $400 billion green bank to finance billions of dollars in loans for projects including nuclear reactors. The move came after President Donald Trump in May signed orders meant to accelerate the construction of nuclear power plants. Still, even if a major new nuclear plant went into construction immediately, it would likely be years before it would be able to send electricity to data centers. 'Nothing is going to help them for this first wave of AI demand,' said Stein of the Breakthrough Institute. Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Is Elon Musk's Political Capital Spent? 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Arab Times
6 days ago
- Business
- Arab Times
Eminem sues Meta over unauthorized use of music in reels
LOS ANGELES, June 4: Rap icon Eminem has filed a lawsuit against Meta Platforms Inc., the parent company of Facebook, Instagram, and WhatsApp, accusing the tech giant of unauthorized use and distribution of his music through its social media tools, including Reels Remix and Original Audio. The complaint was filed on May 30 in Michigan federal court by Eminem's production company, Eight Mile Style. The lawsuit alleges that Meta engaged in 'rampant' and 'knowing infringement' by making Eminem's songs available in its 'Music Libraries' for use in user-generated content — often without obtaining the necessary licenses. These songs, including major hits like 'Lose Yourself,' were allegedly used in millions of videos and streamed billions of times without proper authorization. Eight Mile Style contends that Meta attempted to secure licensing through Audiam, Inc., a digital royalty collection company, but asserts that Audiam was never granted such authority on its behalf. The lawsuit claims Meta 'willfully' encouraged its billions of users to use Eminem's music without a license and is not eligible for Digital Millennium Copyright Act (DMCA) safe harbor protections due to its alleged knowledge and facilitation of the infringement. While some songs were reportedly removed from Meta platforms following complaints — including 'Lose Yourself' — Eight Mile Style maintains that unauthorized covers and instrumental versions of the rapper's music remain accessible. The company is seeking statutory damages of up to $150,000 per song, per platform — potentially amounting to over $1 million — along with actual damages, lost profits, and a permanent injunction against the continued unlicensed use of Eminem's music. Eight Mile Style has also requested a jury trial.
Time of India
20-05-2025
- Business
- Time of India
Telegram CEO Pavel Durov launches $50K viral video contest to expose WhatsApp's 'cheap copycat' moves
Telegram CEO Pavel Durov launches $50K viral video contest to expose WhatsApp's 'cheap copycat' moves In the highly competitive landscape of instant messaging platforms, Telegram, a popular messaging app founded by Pavel Durov , has initiated a bold new contest aimed at content creators. The competition offers a prize pool of $50,000 for a viral video that underscores Telegram's claim of being the original innovator in messaging technology — years ahead of its competitor WhatsApp, which Telegram labels a 'cheap copycat.' This initiative marks Telegram's first contest designed specifically for content creators, signaling the company's increased focus on leveraging user-generated content to raise awareness about its platform's unique features and capabilities. The contest was announced on May 19, 2025, by Pavel Durov himself, and aims to counteract alleged smear campaigns against Telegram by WhatsApp. With a submission deadline set for May 26, 2025, the campaign encourages participation from global audiences, aiming to clarify Telegram's contributions to the messaging industry. Telegram calls out WhatsApp in a viral contest Telegram and WhatsApp are two of the largest messaging platforms worldwide, both competing for dominance in the instant communication space. WhatsApp, owned by Meta Platforms Inc., boasts over two billion users globally, while Telegram, known for its focus on privacy and advanced features, has seen rapid growth, particularly in regions emphasizing secure messaging. The rivalry has intensified over the years, with Telegram frequently highlighting its pioneering features that WhatsApp later incorporated, and vice versa. Telegram CEO Pavel Durov launches $50K viral video contest Pavel Durov, Telegram's CEO and founder, has publicly accused WhatsApp of conducting smear campaigns against Telegram, aiming to undermine its reputation. In response, Telegram's new contest serves as a public relations strategy to emphasize Telegram's innovative edge and solidify its position among messaging app users. Telegram offers $50K for viral videos calling out WhatsApp 'copying' The contest invites participants to create a viral video no longer than three minutes (180 seconds) that celebrates Telegram's technological advancements and innovation history relative to WhatsApp. Key aspects of the contest include: Prize amount : Up to $50,000, a significant reward intended to attract wide participation. Submission deadline : May 26, 2025, at 23:59 Dubai time, reflecting Telegram's headquarters location. Eligibility : Open to all participants worldwide. Content requirements : Videos must be in English, suitable for social media platforms such as TikTok, Instagram Reels, and YouTube Shorts. Use of AI tools : Allowed as supplementary aids in video production. Judging criteria : Videos will be evaluated based on clarity, visual impact, potential for memes, and virality. Telegram provides participants with a curated list of 30 key features that the app introduced before WhatsApp adopted similar functionalities. However, Pavel Durov notes that the list is not exhaustive and that many. Telegram features still have no counterparts on WhatsApp. Features Telegram claims to pioneer Telegram has long promoted its role as an innovator in the messaging app industry. The platform introduced a variety of features now commonplace in WhatsApp and other competitors, including: End-to-end encrypted secret chats Large group chats and channels Bots and third-party app integrations File sharing with higher size limits Multi-device support without needing the primary device online Self-destructing messages and media Advanced privacy controls This innovation-driven branding underpins Telegram's appeal to privacy-conscious users, tech enthusiasts, and developers worldwide. Amid privacy push, Telegram's viral contest takes aim at WhatsApp The contest arrives at a time when Telegram is increasingly positioning itself as a privacy-focused alternative to mainstream messaging apps. This strategy is part of a broader trend among users concerned about data privacy, censorship, and control over digital communication platforms. Simultaneously, Telegram's open nature and support for bots and APIs have made it popular among developers and businesses seeking customizable communication tools. The contest, therefore, not only serves marketing objectives but also reinforces Telegram's identity as a technology leader. Pavel Durov's recent statements on political pressures In conjunction with the contest announcement, Pavel Durov addressed additional political pressures Telegram faces globally. On his Telegram channel, he claimed that a Western European government (implied to be France) had requested Telegram to silence conservative political voices in Romania ahead of the country's presidential elections held on May 18, 2025. Durov stated that Telegram refused the request, emphasizing the platform's commitment to protecting political freedom and user rights without blocking political channels. This statement underscores Telegram's stance on political neutrality and freedom of expression, positioning the platform as resistant to government censorship demands. Implications for users and content creators The contest opens opportunities for a wide range of content creators, including video producers, social media influencers, and digital marketers. By incentivizing creative promotion of Telegram's features, the company aims to increase its user base and engagement on emerging social media platforms, where short-form videos dominate. Participants are encouraged to leverage contemporary digital marketing techniques, meme culture, and AI tools to maximize video reach and impact. The contest guidelines emphasize the importance of clear messaging, visual appeal, and potential for viral spread. Contest evaluation and future prospects The submitted videos will be reviewed and scored based on predefined metrics by Telegram's evaluation panel, with winners announced in June 2025. This approach highlights Telegram's commitment to community-driven content creation as part of its marketing and brand positioning strategy. If successful, the contest could set a precedent for future content initiatives designed to engage users creatively, leveraging social media trends to amplify Telegram's messaging about innovation and privacy. Also read | Elon Musk no longer the richest man in the world? Indian man wakes up to 36-digit fortune in his account AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
20-05-2025
- Business
- Yahoo
Tariff-Driven Dollar Woes Help Brighten First-Quarter Earnings
(Bloomberg) -- Tariffs unexpectedly devaluing the US dollar — and in turn boosting corporate earnings — was one of the few bright spots of the first-quarter earnings season in North America. America, 'Nation of Porches' NJ Transit Train Engineers Strike, Disrupting Travel to NYC NJ Transit Makes Deal With Engineers, Ending Three-Day Strike Contrary to what analysts and executives had expected at the beginning of the year, a Bloomberg gauge of the dollar has collapsed in recent months as investors moved out of US assets in response to the country's tariff policies. The currency is down more than 6% since the beginning of the year, the worst start for the measure going back to its launch two decades ago. Companies including Meta Platforms Inc. and Microsoft Corp. now expect foreign exchange to boost revenue by hundreds of millions of dollars, while McDonald's Corp. sees an earnings lift of 5 cents a share for the year versus the previously anticipated negative impact of 20 cents to 30 cents per share. The greenback has weakened 'materially' in 2025, a Morgan Stanley team led by Michael Wilson said in a recent note to clients. 'This is serving as a tailwind for large multinationals with high foreign sales exposure.' Positioning in the derivatives market suggests more losses ahead, albeit with diminished certainty following positive negotiations between the US and China in May. One-month risk reversals on the Bloomberg Dollar Spot Index — a measure that indicates how much traders are willing to pay for put options relative to call options — are now the most bearish on the US currency since March 2020. That's showing in corporate forecasts, too. Procter & Gamble Co.'s estimated foreign exchange impact for example has fallen by a third to $200 million compared with the start of the year. Airbnb Inc., which expected foreign exchange to be a drag for the year, now has a more positive view of the currency. 'Fast forward to where we are today, it's obviously less of a headwind,' Chief Financial Officer Ellie Mertz during the company's earnings call. On the other hand, there are some companies for whom the recent dollar slump is a burden. One of them is Germany's SAP SE, which generates a large proportion of earnings in the US currency. The firm's CFO expects a hit to earnings next year as currency hedges start to expire. Still, some companies will likely see the benefits of a weaker dollar continuing. Despite some tariff concerns easing, 'there's a structural negative narrative for the dollar, which I think will stay in place,' Bloomberg Intelligence Chief FX Strategist Audrey Childe-Freeman said on a recent call. Why Apple Still Hasn't Cracked AI Anthropic Is Trying to Win the AI Race Without Losing Its Soul Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp DeepSeek's 'Tech Madman' Founder Is Threatening US Dominance in AI Race ©2025 Bloomberg L.P. 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
The Mainichi
19-05-2025
- Business
- The Mainichi
Editorial: Backtracking on diversity unacceptable as anti-DEI moves grow under Trump
Efforts to respect diversity are experiencing a headwind. It is crucial to face the reality of persistent discrimination and prejudice in society and aim to create an environment where everyone can find their place and play an active role. Shortly after taking office, U.S. President Donald Trump signed an executive order abolishing the diversity, equity, and inclusion (DEI) initiatives that had been advanced under the previous administration of Joe Biden. DEI is a collective term for efforts aimed at correcting discrimination based on gender, race, religion, disability and more. It represents the idea of guaranteeing fair opportunities in workplaces and organizations for people who have historically been treated unfairly. The origins of DEI date back to the civil rights movement of the 1960s. The expansion of the Black Lives Matter (BLM) movement, which saw a significant surge after the killing of George Floyd by a Minneapolis police officer in 2020, led many U.S. companies to step up their DEI efforts. However, in light of Trump's policies, reviews of these measures are accelerating. A means to attack liberalism Companies like Meta Platforms Inc., Inc. and McDonald's Corp. have moved to abolish or downsize their DEI initiatives. Measures include disbanding internal teams responsible for these efforts, and retracting numerical targets for hiring and promoting women. This is seen partly as a move to avoid the risk of unfavorable treatment from the Trump administration. Behind the intensifying criticism of DEI lies the decline of manufacturing in the United States due to globalization and digitalization. Production bases shifted to countries with lower labor costs, leading to job losses in the Rust Belt states. Meanwhile, wealth was concentrated in large U.S.-based IT companies, widening the gap between the wealthy and the working class. Ignoring these realities, Trump has argued that jobs and promotions that white workers should have received were taken by those supposedly favored under DEI. This rhetoric attracts people who feel disadvantaged in hiring and promotions. Judicial decisions have also influenced corporate responses. In 2023, the U.S. Supreme Court ruled that "affirmative action," which takes race into account in university admissions, violates the 14th Amendment's guarantee of equal protection under the law. This change to a previous judgment is attributed to the increase in conservative justices during the first Trump administration. DEI, however, aims to correct systems that disadvantage certain people. Discrimination and prejudice cannot be resolved overnight, and continuous efforts are necessary. Trump, who proposed abolishing DEI policies, has used "anti-DEI" as a means to draw in those opposed to DEI and political correctness, and to attack liberals. One particular target has been transgender individuals. Trump issued executive orders that defined sex as individuals' "biological classification as either male or female," and excluded transgender people from the military and women's sports. Transgender individuals often struggle with the gap between their sex assigned at birth and their gender identity. The view that "only birth gender exists" ignores the reality and denies the existence of transgender people as a sexual minority. The foolish act of turning back the clock In Europe, the exclusionary atmosphere is also growing. A politician from Germany's far-right Alternative for Germany (AfD) party mocked the national soccer team for the 2024 European Championship as a "mercenary squad" due to the high number of immigrant players. The party surged to become the second-largest in the general election this February. The method of stirring up dissatisfaction with increasing immigration and refugees to garner support is similar to Trump's approach. There is concern that Trump's style of anti-DEI may spread in Japan too. The reality in Japan is that women's social advancement in politics and economics is extremely delayed, even by international standards. It is unacceptable to conveniently adopt U.S. trends as an excuse for inaction. Mamiko Chiya, a senior researcher at the think tank JTUC Rengo Research Institute for Advancement of Living Standards, points out, "Diversity and inclusiveness in society are essential elements for guaranteeing the human rights of all people. Respecting the rights of minorities is fundamental to democracy, where everyone can participate in politics and express their opinions freely." It is unacceptable to turn back the clock on the history of moving toward a discrimination-free society. What is needed in politics now is a full commitment to realizing an inclusive society.
