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Oil Drops as Trump, Xi Meeting Curbs Tariff Expectations

Oil extended a three-day losing streak after an amicable exchange between President Donald Trump and Chinese President Xi Jinping reduced traders concerns that US threats of indirect levies on Russian crude supplies would come to pass.  West Texas Intermediate fell 1.4% to settle just below $63 a barrel as traders rolled over positions ahead of the October contract’s expiry next week, adding to choppy trading. Trump said he would meet Jinping on the sidelines of the upcoming Asia-Pacific Economic Cooperation summit, but there was little publicly said about China’s continued purchase of Russian crude supplies.  The meeting, which comes just a week after the US urged allies to impose tariffs as high as 100% on China and India, reduced traders’ expectations of incoming US secondary tariffs against China, a move that could inflame trade tensions and tighten global balances.  “The fact that Trump did not highlight Chinese purchases of Russian crude following his meeting with Xi has lowered the perceived probability of US secondary sanctions,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Group. “At the same time, India continues to buy Russian barrels, and the EU package language doesn’t appear strong enough to trigger further US action.” Crude has traded in a $5 band for most of the past month-and-a-half as traders take in conflicting signals on supply and weigh them against the outlook for the US economy. Repeated Ukrainian strikes on Russian energy assets along with global calls to place levies against Moscow’s crude have underpinned support. But so far, most experts still expect the market to move into a glut, with fears of oversupply reining in moves to the upside for weeks.  “Attacks on Russian oil infrastructure are giving some upside support to prices, but it’s still tempered by a market looking for a surplus in the months

Read More »

Exxon Says Demand Makes Case for Fossil Fuel Growth

Exxon Mobil Corp. will pursue fossil fuel growth long into the future to meet demand it says will “not materially change” between now and 2050. The Texas oil major is not concerned with “chasing the narrative of the week” but will invest in oil and gas projects that it believes will be needed for decades to come, Dan Ammann, president of the company’s upstream division, said at the BloombergNEF Barrel of Tomorrow in the Age of AI summit in Houston Thursday. Exxon plans to double its sales of liquefied natural gas by 2030 and is investing heavily in oil growth in Guyana and the Permian Basin.   “We take a long-term view based on the fundamentals, and we invest behind that, Ammann said. “Our long-term view of the global energy equation is that the demand for energy is going to continue to grow.” Exxon has not deviated from its fossil fuel focused strategy despite global climate goals. Ammann said this strategy has served it well compared with other oil companies that pivoted to renewable energy only to come back to oil and gas when the returns were lacking.  “We saw some oil and gas companies, five, six, seven years ago say they were going to reduce production 40% by 2030,” he said. “There was literally no math you could do to suggest that was a good idea.” Exxon sees oil and gas holding steady at 55% of the global energy mix by 2050 despite dramatic growth from low carbon sources, chiefly due to a large increase in overall consumption. While oil demand will likely plateau around 2030, gas will help make up the shortfall, the company said in its Energy Outlook published last month.  “We see material growth on the gas side,” Ammann said.  Exxon is planning to bring its Golden Pass LNG operation, a

Read More »

Turkey Plans Energy Deals With USA

Turkey plans to sign new energy deals with the US as early as next week, as it seeks to strengthen ties with Washington from commodities to defense. The agreements could include pledges to buy more US liquefied natural gas, according to people familiar with the matter, who asked not to be identified discussing the plans. Turkish President Recep Tayyip Erdogan is also seeking a meeting with his US counterpart Donald Trump on the sidelines of the UN General Assembly in New York next week, the people said. Turkey’s Energy Ministry declined to comment. The diplomatic and trade push comes as Turkey tries to reset relations with the US after years of strain over the purchase of Russian arms and conflicting stances on Syria’s civil war.  It also follows Trump’s move to pressure NATO allies like Ankara to stop buying Russian oil. Turkey has become one of the biggest importers of Russian crude even as it supplies Ukraine with drones and artillery shells. Erdogan has refrained from sanctioning Russia and tried to broker a peace between the warring parties. Turkey’s energy mix increasingly represents a similar balancing act. Moscow remains its biggest gas supplier, providing about 41% of imports last year, according to Turkish regulator data. But the US has become its top source of seaborne supply, with volumes almost doubling from 2020-2024 and set to grow further after a string of deals signed at a conference last week. Energy Minister Alparslan Bayraktar also discussed LNG with US oil and gas majors ConocoPhillips and Chevron Corp during the event. In nuclear, Turkey is relying on Russia to build its first nuclear power plant while inviting US companies to invest in small modular reactors, which are quicker to build than regular facilities but aren’t yet widely available. 

Read More »

Nvidia reportedly acquires Enfabrica CEO and chip technology license

Another Enfabrica technology that’s of interest to Nvidia, according to Forrester principal analyst Charlie Dai, is Elastic Memory Fabric System (EMFASYS) that became generally available in July. EMFASYS provides AI servers flexible access to memory bandwidth and capacity through a standalone device that connects over standard network ports. The combination of ACF-S and EMFASYS, according to Dai, might help Nvidia unlock higher GPU utilization rates and lower total cost of ownership — key metrics for hyperscalers and LLM developers operating at the cutting edge of AI. Acqui-hires instead of acquisitions Nvidia’s $900 million deal to absorb Enfabrica’s leadership and core technology can also be seen as a broader trend sweeping Silicon Valley, where traditional acquisitions are being replaced by strategic acqui-hires to prioritize talent and intellectual property. Meta set the tone earlier this year with a $14.3 billion investment to onboard Scale AI founder Alexandr Wang and key personnel, acquiring a 49% stake in the startup to lead its superintelligence division. Google followed with a $2.4 billion agreement to bring in Windsurf CEO Varun Mohan and several R&D staffers, licensing the startup’s agentic coding tools for its Gemini AI platform. Microsoft and Amazon’s deals with Inflection AI and Adept are also reminiscent of this pattern. The Inflection AI deal saw Mustafa Suleyman join Microsoft to head its AI division, while Adept co-founder David Luan was hired to head the e-tailer’s AGI efforts.

Read More »

House passes bill to fast-track dispatchable generation interconnection

The U.S. House of Representatives passed a bill Thursday that could give dispatchable power plants priority in interconnection queues. “The interconnection queue is overwhelmed and bogged down, leaving shovel-ready power projects waiting for years while demand continues to climb,” Rep. Troy Balderson, R-Ohio and the bill’s sponsor, said in a press release. Under the GRID Power Act, FERC would have 60 days to review proposals from regional transmission organizations and independent system operators for specific projects that would be pushed to the head of interconnection queues. The RTOs and ISOs would have to show the proposed projects would bolster grid reliability and resilience, according to the legislation. The bill defines dispatchable power as “an electric energy generation resource capable of providing known and forecastable electric supply in time intervals necessary to ensure grid reliability.” The bill requires FERC to start a rulemaking process to implement the legislation within 90 days after the bill becomes law and to complete the rulemaking within 180 days. Sens. John Hoeven, R-N.D., and Todd Young, R-Ind., have introduced a companion bill in the Senate. The Electric Power Supply Association, a trade group for power producers, supports the bill. “It has been surprising to hear that opponents of the GRID [Power] Act believe that this process will become chronic or habit-forming for grid operators or somehow represents a permanent barrier or level of discrimination against non-dispatchable projects,” EPSA President and CEO Todd Snitcher said in a “backgrounder” on the bill. “If the immediate reliability need doesn’t exist or can’t be explained, and FERC isn’t convinced both to the urgency and efficiency of the proposal, then queue prioritization doesn’t take place.” The Sierra Club said the bill — along with two other energy bills that passed the House Thursday — would hamper efforts to build cleaner, more

Read More »

DOE seeks comment on large-scale generation, transmission development

The U.S. Department of Energy on Thursday announced a “Speed to Power” initiative aimed at accelerating development of large-scale generation and transmission projects needed to power AI data centers and other emerging loads. “DOE analysis shows that the current rate of project development is inadequate to support the country’s rapidly expanding manufacturing needs and the reindustrialization of the U.S. economy,” the agency said. It kicked off the initiative with a request for information on near-term investment opportunities, project readiness, load growth expectations and infrastructure constraints. After years of flatlining, U.S. appetite for electricity is growing rapidly. The North American Electric Reliability Corp. said it expected summer peak demand to rise by 15% and winter peak demand by nearly 18% over the next decade. The reliability watchdog said in its most recent 10-year forecast that demand growth is now higher than at any point in the past two decades, with more large commercial and industrial loads as well as the continued electrification of the transportation and building sectors.  Analysts also expect aggressive growth. Consulting firm ICF said in May that demand could grow 25% from 2023 to 2030 and 78% by 2050. Bank of America Institute believes electricity demand will grow at a 2.5% compound annual growth rate through 2035, compared with an anemic 0.5% CAGR from 2014-2024. “DOE is requesting stakeholder input on how to best leverage its funding programs and authorities to rapidly expand energy generation and transmission grid capacity,” the agency said. Utilities, state energy offices, regulators, grid operators, infrastructure developers, large energy users, and other stakeholders are invited to respond by Nov. 21. The power system needs new resources quickly and if it is technology-agnostic then Speed to Power is “exactly the kind of action that DOE should be undertaking,” John Moore, director of the Sustainable FERC Project, housed at

Read More »

Oil Drops as Trump, Xi Meeting Curbs Tariff Expectations

Oil extended a three-day losing streak after an amicable exchange between President Donald Trump and Chinese President Xi Jinping reduced traders concerns that US threats of indirect levies on Russian crude supplies would come to pass.  West Texas Intermediate fell 1.4% to settle just below $63 a barrel as traders rolled over positions ahead of the October contract’s expiry next week, adding to choppy trading. Trump said he would meet Jinping on the sidelines of the upcoming Asia-Pacific Economic Cooperation summit, but there was little publicly said about China’s continued purchase of Russian crude supplies.  The meeting, which comes just a week after the US urged allies to impose tariffs as high as 100% on China and India, reduced traders’ expectations of incoming US secondary tariffs against China, a move that could inflame trade tensions and tighten global balances.  “The fact that Trump did not highlight Chinese purchases of Russian crude following his meeting with Xi has lowered the perceived probability of US secondary sanctions,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Group. “At the same time, India continues to buy Russian barrels, and the EU package language doesn’t appear strong enough to trigger further US action.” Crude has traded in a $5 band for most of the past month-and-a-half as traders take in conflicting signals on supply and weigh them against the outlook for the US economy. Repeated Ukrainian strikes on Russian energy assets along with global calls to place levies against Moscow’s crude have underpinned support. But so far, most experts still expect the market to move into a glut, with fears of oversupply reining in moves to the upside for weeks.  “Attacks on Russian oil infrastructure are giving some upside support to prices, but it’s still tempered by a market looking for a surplus in the months

Read More »

Exxon Says Demand Makes Case for Fossil Fuel Growth

Exxon Mobil Corp. will pursue fossil fuel growth long into the future to meet demand it says will “not materially change” between now and 2050. The Texas oil major is not concerned with “chasing the narrative of the week” but will invest in oil and gas projects that it believes will be needed for decades to come, Dan Ammann, president of the company’s upstream division, said at the BloombergNEF Barrel of Tomorrow in the Age of AI summit in Houston Thursday. Exxon plans to double its sales of liquefied natural gas by 2030 and is investing heavily in oil growth in Guyana and the Permian Basin.   “We take a long-term view based on the fundamentals, and we invest behind that, Ammann said. “Our long-term view of the global energy equation is that the demand for energy is going to continue to grow.” Exxon has not deviated from its fossil fuel focused strategy despite global climate goals. Ammann said this strategy has served it well compared with other oil companies that pivoted to renewable energy only to come back to oil and gas when the returns were lacking.  “We saw some oil and gas companies, five, six, seven years ago say they were going to reduce production 40% by 2030,” he said. “There was literally no math you could do to suggest that was a good idea.” Exxon sees oil and gas holding steady at 55% of the global energy mix by 2050 despite dramatic growth from low carbon sources, chiefly due to a large increase in overall consumption. While oil demand will likely plateau around 2030, gas will help make up the shortfall, the company said in its Energy Outlook published last month.  “We see material growth on the gas side,” Ammann said.  Exxon is planning to bring its Golden Pass LNG operation, a

Read More »

Turkey Plans Energy Deals With USA

Turkey plans to sign new energy deals with the US as early as next week, as it seeks to strengthen ties with Washington from commodities to defense. The agreements could include pledges to buy more US liquefied natural gas, according to people familiar with the matter, who asked not to be identified discussing the plans. Turkish President Recep Tayyip Erdogan is also seeking a meeting with his US counterpart Donald Trump on the sidelines of the UN General Assembly in New York next week, the people said. Turkey’s Energy Ministry declined to comment. The diplomatic and trade push comes as Turkey tries to reset relations with the US after years of strain over the purchase of Russian arms and conflicting stances on Syria’s civil war.  It also follows Trump’s move to pressure NATO allies like Ankara to stop buying Russian oil. Turkey has become one of the biggest importers of Russian crude even as it supplies Ukraine with drones and artillery shells. Erdogan has refrained from sanctioning Russia and tried to broker a peace between the warring parties. Turkey’s energy mix increasingly represents a similar balancing act. Moscow remains its biggest gas supplier, providing about 41% of imports last year, according to Turkish regulator data. But the US has become its top source of seaborne supply, with volumes almost doubling from 2020-2024 and set to grow further after a string of deals signed at a conference last week. Energy Minister Alparslan Bayraktar also discussed LNG with US oil and gas majors ConocoPhillips and Chevron Corp during the event. In nuclear, Turkey is relying on Russia to build its first nuclear power plant while inviting US companies to invest in small modular reactors, which are quicker to build than regular facilities but aren’t yet widely available. 

Read More »

Nvidia reportedly acquires Enfabrica CEO and chip technology license

Another Enfabrica technology that’s of interest to Nvidia, according to Forrester principal analyst Charlie Dai, is Elastic Memory Fabric System (EMFASYS) that became generally available in July. EMFASYS provides AI servers flexible access to memory bandwidth and capacity through a standalone device that connects over standard network ports. The combination of ACF-S and EMFASYS, according to Dai, might help Nvidia unlock higher GPU utilization rates and lower total cost of ownership — key metrics for hyperscalers and LLM developers operating at the cutting edge of AI. Acqui-hires instead of acquisitions Nvidia’s $900 million deal to absorb Enfabrica’s leadership and core technology can also be seen as a broader trend sweeping Silicon Valley, where traditional acquisitions are being replaced by strategic acqui-hires to prioritize talent and intellectual property. Meta set the tone earlier this year with a $14.3 billion investment to onboard Scale AI founder Alexandr Wang and key personnel, acquiring a 49% stake in the startup to lead its superintelligence division. Google followed with a $2.4 billion agreement to bring in Windsurf CEO Varun Mohan and several R&D staffers, licensing the startup’s agentic coding tools for its Gemini AI platform. Microsoft and Amazon’s deals with Inflection AI and Adept are also reminiscent of this pattern. The Inflection AI deal saw Mustafa Suleyman join Microsoft to head its AI division, while Adept co-founder David Luan was hired to head the e-tailer’s AGI efforts.

Read More »

House passes bill to fast-track dispatchable generation interconnection

The U.S. House of Representatives passed a bill Thursday that could give dispatchable power plants priority in interconnection queues. “The interconnection queue is overwhelmed and bogged down, leaving shovel-ready power projects waiting for years while demand continues to climb,” Rep. Troy Balderson, R-Ohio and the bill’s sponsor, said in a press release. Under the GRID Power Act, FERC would have 60 days to review proposals from regional transmission organizations and independent system operators for specific projects that would be pushed to the head of interconnection queues. The RTOs and ISOs would have to show the proposed projects would bolster grid reliability and resilience, according to the legislation. The bill defines dispatchable power as “an electric energy generation resource capable of providing known and forecastable electric supply in time intervals necessary to ensure grid reliability.” The bill requires FERC to start a rulemaking process to implement the legislation within 90 days after the bill becomes law and to complete the rulemaking within 180 days. Sens. John Hoeven, R-N.D., and Todd Young, R-Ind., have introduced a companion bill in the Senate. The Electric Power Supply Association, a trade group for power producers, supports the bill. “It has been surprising to hear that opponents of the GRID [Power] Act believe that this process will become chronic or habit-forming for grid operators or somehow represents a permanent barrier or level of discrimination against non-dispatchable projects,” EPSA President and CEO Todd Snitcher said in a “backgrounder” on the bill. “If the immediate reliability need doesn’t exist or can’t be explained, and FERC isn’t convinced both to the urgency and efficiency of the proposal, then queue prioritization doesn’t take place.” The Sierra Club said the bill — along with two other energy bills that passed the House Thursday — would hamper efforts to build cleaner, more

Read More »

DOE seeks comment on large-scale generation, transmission development

The U.S. Department of Energy on Thursday announced a “Speed to Power” initiative aimed at accelerating development of large-scale generation and transmission projects needed to power AI data centers and other emerging loads. “DOE analysis shows that the current rate of project development is inadequate to support the country’s rapidly expanding manufacturing needs and the reindustrialization of the U.S. economy,” the agency said. It kicked off the initiative with a request for information on near-term investment opportunities, project readiness, load growth expectations and infrastructure constraints. After years of flatlining, U.S. appetite for electricity is growing rapidly. The North American Electric Reliability Corp. said it expected summer peak demand to rise by 15% and winter peak demand by nearly 18% over the next decade. The reliability watchdog said in its most recent 10-year forecast that demand growth is now higher than at any point in the past two decades, with more large commercial and industrial loads as well as the continued electrification of the transportation and building sectors.  Analysts also expect aggressive growth. Consulting firm ICF said in May that demand could grow 25% from 2023 to 2030 and 78% by 2050. Bank of America Institute believes electricity demand will grow at a 2.5% compound annual growth rate through 2035, compared with an anemic 0.5% CAGR from 2014-2024. “DOE is requesting stakeholder input on how to best leverage its funding programs and authorities to rapidly expand energy generation and transmission grid capacity,” the agency said. Utilities, state energy offices, regulators, grid operators, infrastructure developers, large energy users, and other stakeholders are invited to respond by Nov. 21. The power system needs new resources quickly and if it is technology-agnostic then Speed to Power is “exactly the kind of action that DOE should be undertaking,” John Moore, director of the Sustainable FERC Project, housed at

Read More »

Exxon Says Demand Makes Case for Fossil Fuel Growth

Exxon Mobil Corp. will pursue fossil fuel growth long into the future to meet demand it says will “not materially change” between now and 2050. The Texas oil major is not concerned with “chasing the narrative of the week” but will invest in oil and gas projects that it believes will be needed for decades to come, Dan Ammann, president of the company’s upstream division, said at the BloombergNEF Barrel of Tomorrow in the Age of AI summit in Houston Thursday. Exxon plans to double its sales of liquefied natural gas by 2030 and is investing heavily in oil growth in Guyana and the Permian Basin.   “We take a long-term view based on the fundamentals, and we invest behind that, Ammann said. “Our long-term view of the global energy equation is that the demand for energy is going to continue to grow.” Exxon has not deviated from its fossil fuel focused strategy despite global climate goals. Ammann said this strategy has served it well compared with other oil companies that pivoted to renewable energy only to come back to oil and gas when the returns were lacking.  “We saw some oil and gas companies, five, six, seven years ago say they were going to reduce production 40% by 2030,” he said. “There was literally no math you could do to suggest that was a good idea.” Exxon sees oil and gas holding steady at 55% of the global energy mix by 2050 despite dramatic growth from low carbon sources, chiefly due to a large increase in overall consumption. While oil demand will likely plateau around 2030, gas will help make up the shortfall, the company said in its Energy Outlook published last month.  “We see material growth on the gas side,” Ammann said.  Exxon is planning to bring its Golden Pass LNG operation, a

Read More »

Oil Drops as Trump, Xi Meeting Curbs Tariff Expectations

Oil extended a three-day losing streak after an amicable exchange between President Donald Trump and Chinese President Xi Jinping reduced traders concerns that US threats of indirect levies on Russian crude supplies would come to pass.  West Texas Intermediate fell 1.4% to settle just below $63 a barrel as traders rolled over positions ahead of the October contract’s expiry next week, adding to choppy trading. Trump said he would meet Jinping on the sidelines of the upcoming Asia-Pacific Economic Cooperation summit, but there was little publicly said about China’s continued purchase of Russian crude supplies.  The meeting, which comes just a week after the US urged allies to impose tariffs as high as 100% on China and India, reduced traders’ expectations of incoming US secondary tariffs against China, a move that could inflame trade tensions and tighten global balances.  “The fact that Trump did not highlight Chinese purchases of Russian crude following his meeting with Xi has lowered the perceived probability of US secondary sanctions,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Group. “At the same time, India continues to buy Russian barrels, and the EU package language doesn’t appear strong enough to trigger further US action.” Crude has traded in a $5 band for most of the past month-and-a-half as traders take in conflicting signals on supply and weigh them against the outlook for the US economy. Repeated Ukrainian strikes on Russian energy assets along with global calls to place levies against Moscow’s crude have underpinned support. But so far, most experts still expect the market to move into a glut, with fears of oversupply reining in moves to the upside for weeks.  “Attacks on Russian oil infrastructure are giving some upside support to prices, but it’s still tempered by a market looking for a surplus in the months

Read More »

Turkey Plans Energy Deals With USA

Turkey plans to sign new energy deals with the US as early as next week, as it seeks to strengthen ties with Washington from commodities to defense. The agreements could include pledges to buy more US liquefied natural gas, according to people familiar with the matter, who asked not to be identified discussing the plans. Turkish President Recep Tayyip Erdogan is also seeking a meeting with his US counterpart Donald Trump on the sidelines of the UN General Assembly in New York next week, the people said. Turkey’s Energy Ministry declined to comment. The diplomatic and trade push comes as Turkey tries to reset relations with the US after years of strain over the purchase of Russian arms and conflicting stances on Syria’s civil war.  It also follows Trump’s move to pressure NATO allies like Ankara to stop buying Russian oil. Turkey has become one of the biggest importers of Russian crude even as it supplies Ukraine with drones and artillery shells. Erdogan has refrained from sanctioning Russia and tried to broker a peace between the warring parties. Turkey’s energy mix increasingly represents a similar balancing act. Moscow remains its biggest gas supplier, providing about 41% of imports last year, according to Turkish regulator data. But the US has become its top source of seaborne supply, with volumes almost doubling from 2020-2024 and set to grow further after a string of deals signed at a conference last week. Energy Minister Alparslan Bayraktar also discussed LNG with US oil and gas majors ConocoPhillips and Chevron Corp during the event. In nuclear, Turkey is relying on Russia to build its first nuclear power plant while inviting US companies to invest in small modular reactors, which are quicker to build than regular facilities but aren’t yet widely available. 

Read More »

DOE seeks comment on large-scale generation, transmission development

The U.S. Department of Energy on Thursday announced a “Speed to Power” initiative aimed at accelerating development of large-scale generation and transmission projects needed to power AI data centers and other emerging loads. “DOE analysis shows that the current rate of project development is inadequate to support the country’s rapidly expanding manufacturing needs and the reindustrialization of the U.S. economy,” the agency said. It kicked off the initiative with a request for information on near-term investment opportunities, project readiness, load growth expectations and infrastructure constraints. After years of flatlining, U.S. appetite for electricity is growing rapidly. The North American Electric Reliability Corp. said it expected summer peak demand to rise by 15% and winter peak demand by nearly 18% over the next decade. The reliability watchdog said in its most recent 10-year forecast that demand growth is now higher than at any point in the past two decades, with more large commercial and industrial loads as well as the continued electrification of the transportation and building sectors.  Analysts also expect aggressive growth. Consulting firm ICF said in May that demand could grow 25% from 2023 to 2030 and 78% by 2050. Bank of America Institute believes electricity demand will grow at a 2.5% compound annual growth rate through 2035, compared with an anemic 0.5% CAGR from 2014-2024. “DOE is requesting stakeholder input on how to best leverage its funding programs and authorities to rapidly expand energy generation and transmission grid capacity,” the agency said. Utilities, state energy offices, regulators, grid operators, infrastructure developers, large energy users, and other stakeholders are invited to respond by Nov. 21. The power system needs new resources quickly and if it is technology-agnostic then Speed to Power is “exactly the kind of action that DOE should be undertaking,” John Moore, director of the Sustainable FERC Project, housed at

Read More »

House passes bill to fast-track dispatchable generation interconnection

The U.S. House of Representatives passed a bill Thursday that could give dispatchable power plants priority in interconnection queues. “The interconnection queue is overwhelmed and bogged down, leaving shovel-ready power projects waiting for years while demand continues to climb,” Rep. Troy Balderson, R-Ohio and the bill’s sponsor, said in a press release. Under the GRID Power Act, FERC would have 60 days to review proposals from regional transmission organizations and independent system operators for specific projects that would be pushed to the head of interconnection queues. The RTOs and ISOs would have to show the proposed projects would bolster grid reliability and resilience, according to the legislation. The bill defines dispatchable power as “an electric energy generation resource capable of providing known and forecastable electric supply in time intervals necessary to ensure grid reliability.” The bill requires FERC to start a rulemaking process to implement the legislation within 90 days after the bill becomes law and to complete the rulemaking within 180 days. Sens. John Hoeven, R-N.D., and Todd Young, R-Ind., have introduced a companion bill in the Senate. The Electric Power Supply Association, a trade group for power producers, supports the bill. “It has been surprising to hear that opponents of the GRID [Power] Act believe that this process will become chronic or habit-forming for grid operators or somehow represents a permanent barrier or level of discrimination against non-dispatchable projects,” EPSA President and CEO Todd Snitcher said in a “backgrounder” on the bill. “If the immediate reliability need doesn’t exist or can’t be explained, and FERC isn’t convinced both to the urgency and efficiency of the proposal, then queue prioritization doesn’t take place.” The Sierra Club said the bill — along with two other energy bills that passed the House Thursday — would hamper efforts to build cleaner, more

Read More »

TotalEnergies signs agreement for oil exploration blocks offshore Liberia

TotalEnergies has signed four production sharing contracts (PSC) for blocks offshore Liberia. The work program for the exploration blocks, which were awarded following the 2024 Direct Negotiation Licensing Round organized by the Liberia Petroleum Regulatory Agency, includes acquisition of one firm 3D seismic study, the operator said in a release Sept. 17. The PSCs are Liberia’s first upstream petroleum agreements in more than 10 years, the regulator said in a separate release.  Blocks LB-6, LB-11, LB-17 and LB-29, which together cover an area of about 12,700 sq km, lie south of the Liberia basin. Entering the blocks aligns with the operator’s strategy to diversify its exploration portfolio in high-potential new oil-prone basins, said Kevin McLachlan, senior vice-president, exploration, TotalEnergies.

Read More »

Microsoft will invest $80B in AI data centers in fiscal 2025

And Microsoft isn’t the only one that is ramping up its investments into AI-enabled data centers. Rival cloud service providers are all investing in either upgrading or opening new data centers to capture a larger chunk of business from developers and users of large language models (LLMs).  In a report published in October 2024, Bloomberg Intelligence estimated that demand for generative AI would push Microsoft, AWS, Google, Oracle, Meta, and Apple would between them devote $200 billion to capex in 2025, up from $110 billion in 2023. Microsoft is one of the biggest spenders, followed closely by Google and AWS, Bloomberg Intelligence said. Its estimate of Microsoft’s capital spending on AI, at $62.4 billion for calendar 2025, is lower than Smith’s claim that the company will invest $80 billion in the fiscal year to June 30, 2025. Both figures, though, are way higher than Microsoft’s 2020 capital expenditure of “just” $17.6 billion. The majority of the increased spending is tied to cloud services and the expansion of AI infrastructure needed to provide compute capacity for OpenAI workloads. Separately, last October Amazon CEO Andy Jassy said his company planned total capex spend of $75 billion in 2024 and even more in 2025, with much of it going to AWS, its cloud computing division.

Read More »

John Deere unveils more autonomous farm machines to address skill labor shortage

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Self-driving tractors might be the path to self-driving cars. John Deere has revealed a new line of autonomous machines and tech across agriculture, construction and commercial landscaping. The Moline, Illinois-based John Deere has been in business for 187 years, yet it’s been a regular as a non-tech company showing off technology at the big tech trade show in Las Vegas and is back at CES 2025 with more autonomous tractors and other vehicles. This is not something we usually cover, but John Deere has a lot of data that is interesting in the big picture of tech. The message from the company is that there aren’t enough skilled farm laborers to do the work that its customers need. It’s been a challenge for most of the last two decades, said Jahmy Hindman, CTO at John Deere, in a briefing. Much of the tech will come this fall and after that. He noted that the average farmer in the U.S. is over 58 and works 12 to 18 hours a day to grow food for us. And he said the American Farm Bureau Federation estimates there are roughly 2.4 million farm jobs that need to be filled annually; and the agricultural work force continues to shrink. (This is my hint to the anti-immigration crowd). John Deere’s autonomous 9RX Tractor. Farmers can oversee it using an app. While each of these industries experiences their own set of challenges, a commonality across all is skilled labor availability. In construction, about 80% percent of contractors struggle to find skilled labor. And in commercial landscaping, 86% of landscaping business owners can’t find labor to fill open positions, he said. “They have to figure out how to do

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2025 playbook for enterprise AI success, from agents to evals

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More 2025 is poised to be a pivotal year for enterprise AI. The past year has seen rapid innovation, and this year will see the same. This has made it more critical than ever to revisit your AI strategy to stay competitive and create value for your customers. From scaling AI agents to optimizing costs, here are the five critical areas enterprises should prioritize for their AI strategy this year. 1. Agents: the next generation of automation AI agents are no longer theoretical. In 2025, they’re indispensable tools for enterprises looking to streamline operations and enhance customer interactions. Unlike traditional software, agents powered by large language models (LLMs) can make nuanced decisions, navigate complex multi-step tasks, and integrate seamlessly with tools and APIs. At the start of 2024, agents were not ready for prime time, making frustrating mistakes like hallucinating URLs. They started getting better as frontier large language models themselves improved. “Let me put it this way,” said Sam Witteveen, cofounder of Red Dragon, a company that develops agents for companies, and that recently reviewed the 48 agents it built last year. “Interestingly, the ones that we built at the start of the year, a lot of those worked way better at the end of the year just because the models got better.” Witteveen shared this in the video podcast we filmed to discuss these five big trends in detail. Models are getting better and hallucinating less, and they’re also being trained to do agentic tasks. Another feature that the model providers are researching is a way to use the LLM as a judge, and as models get cheaper (something we’ll cover below), companies can use three or more models to

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OpenAI’s red teaming innovations define new essentials for security leaders in the AI era

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More OpenAI has taken a more aggressive approach to red teaming than its AI competitors, demonstrating its security teams’ advanced capabilities in two areas: multi-step reinforcement and external red teaming. OpenAI recently released two papers that set a new competitive standard for improving the quality, reliability and safety of AI models in these two techniques and more. The first paper, “OpenAI’s Approach to External Red Teaming for AI Models and Systems,” reports that specialized teams outside the company have proven effective in uncovering vulnerabilities that might otherwise have made it into a released model because in-house testing techniques may have missed them. In the second paper, “Diverse and Effective Red Teaming with Auto-Generated Rewards and Multi-Step Reinforcement Learning,” OpenAI introduces an automated framework that relies on iterative reinforcement learning to generate a broad spectrum of novel, wide-ranging attacks. Going all-in on red teaming pays practical, competitive dividends It’s encouraging to see competitive intensity in red teaming growing among AI companies. When Anthropic released its AI red team guidelines in June of last year, it joined AI providers including Google, Microsoft, Nvidia, OpenAI, and even the U.S.’s National Institute of Standards and Technology (NIST), which all had released red teaming frameworks. Investing heavily in red teaming yields tangible benefits for security leaders in any organization. OpenAI’s paper on external red teaming provides a detailed analysis of how the company strives to create specialized external teams that include cybersecurity and subject matter experts. The goal is to see if knowledgeable external teams can defeat models’ security perimeters and find gaps in their security, biases and controls that prompt-based testing couldn’t find. What makes OpenAI’s recent papers noteworthy is how well they define using human-in-the-middle

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Three Aberdeen oil company headquarters sell for £45m

Three Aberdeen oil company headquarters have been sold in a deal worth £45 million. The CNOOC, Apache and Taqa buildings at the Prime Four business park in Kingswells have been acquired by EEH Ventures. The trio of buildings, totalling 275,000 sq ft, were previously owned by Canadian firm BMO. The financial services powerhouse first bought the buildings in 2014 but took the decision to sell the buildings as part of a “long-standing strategy to reduce their office exposure across the UK”. The deal was the largest to take place throughout Scotland during the last quarter of 2024. Trio of buildings snapped up London headquartered EEH Ventures was founded in 2013 and owns a number of residential, offices, shopping centres and hotels throughout the UK. All three Kingswells-based buildings were pre-let, designed and constructed by Aberdeen property developer Drum in 2012 on a 15-year lease. © Supplied by CBREThe Aberdeen headquarters of Taqa. Image: CBRE The North Sea headquarters of Middle-East oil firm Taqa has previously been described as “an amazing success story in the Granite City”. Taqa announced in 2023 that it intends to cease production from all of its UK North Sea platforms by the end of 2027. Meanwhile, Apache revealed at the end of last year it is planning to exit the North Sea by the end of 2029 blaming the windfall tax. The US firm first entered the North Sea in 2003 but will wrap up all of its UK operations by 2030. Aberdeen big deals The Prime Four acquisition wasn’t the biggest Granite City commercial property sale of 2024. American private equity firm Lone Star bought Union Square shopping centre from Hammerson for £111m. © ShutterstockAberdeen city centre. Hammerson, who also built the property, had originally been seeking £150m. BP’s North Sea headquarters in Stoneywood, Aberdeen, was also sold. Manchester-based

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2025 ransomware predictions, trends, and how to prepare

Zscaler ThreatLabz research team has revealed critical insights and predictions on ransomware trends for 2025. The latest Ransomware Report uncovered a surge in sophisticated tactics and extortion attacks. As ransomware remains a key concern for CISOs and CIOs, the report sheds light on actionable strategies to mitigate risks. Top Ransomware Predictions for 2025: ● AI-Powered Social Engineering: In 2025, GenAI will fuel voice phishing (vishing) attacks. With the proliferation of GenAI-based tooling, initial access broker groups will increasingly leverage AI-generated voices; which sound more and more realistic by adopting local accents and dialects to enhance credibility and success rates. ● The Trifecta of Social Engineering Attacks: Vishing, Ransomware and Data Exfiltration. Additionally, sophisticated ransomware groups, like the Dark Angels, will continue the trend of low-volume, high-impact attacks; preferring to focus on an individual company, stealing vast amounts of data without encrypting files, and evading media and law enforcement scrutiny. ● Targeted Industries Under Siege: Manufacturing, healthcare, education, energy will remain primary targets, with no slowdown in attacks expected. ● New SEC Regulations Drive Increased Transparency: 2025 will see an uptick in reported ransomware attacks and payouts due to new, tighter SEC requirements mandating that public companies report material incidents within four business days. ● Ransomware Payouts Are on the Rise: In 2025 ransom demands will most likely increase due to an evolving ecosystem of cybercrime groups, specializing in designated attack tactics, and collaboration by these groups that have entered a sophisticated profit sharing model using Ransomware-as-a-Service. To combat damaging ransomware attacks, Zscaler ThreatLabz recommends the following strategies. ● Fighting AI with AI: As threat actors use AI to identify vulnerabilities, organizations must counter with AI-powered zero trust security systems that detect and mitigate new threats. ● Advantages of adopting a Zero Trust architecture: A Zero Trust cloud security platform stops

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The Download: the CDC’s vaccine chaos

This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. A pivotal meeting on vaccine guidance is underway—and former CDC leaders are alarmed This week has been an eventful one for America’s public health agency. Two former leaders of the US Centers for Disease Control and Prevention explained why they suddenly departed in a Senate hearing. They also described how CDC employees are being instructed to turn their backs on scientific evidence.They painted a picture of a health agency in turmoil—and at risk of harming the people it is meant to serve. And, just hours afterwards, a panel of CDC advisers voted to stop recommending the MMRV vaccine for children under four. Read the full story. —Jessica Hamzelou
This article first appeared in The Checkup, MIT Technology Review’s weekly biotech newsletter. To receive it in your inbox every Thursday, and read articles like this first, sign up here. If you’re interested in reading more about US vaccine policy, check out:
+ Read our profile of Jim O’Neill, the deputy health secretary and current acting CDC director.+ Why US federal health agencies are abandoning mRNA vaccines. Read the full story.+ Why childhood vaccines are a public health success story. No vaccine is perfect, but these medicines are still saving millions of lives. Read the full story.  + The FDA plans to limit access to covid vaccines. Here’s why that’s not all bad. Meet Sneha Goenka: our 2025 Innovator of the Year Every year, MIT Technology Review selects one individual whose work we admire to recognize as Innovator of the Year. For 2025, we chose Sneha Goenka, who designed the computations behind the world’s fastest whole-genome sequencing method.  Thanks to her work, physicians can now sequence a patient’s genome and diagnose a genetic condition in less than eight hours—an achievement that could transform medical care. Register here to join an exclusive subscriber-only Roundtable conversation with Goenka, Leilani Battle, assistant professor at the University of Washington, and our editor in chief Mat Honan at 1pm ET next Tuesday September 23.

The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 The CDC voted against giving some children a combined vaccine If accepted, the agency will stop recommending the MMRV vaccine for children under 4. (CNN)+ Its vote on hepatitis B vaccines for newborns is expected today too. (The Atlantic $)+ RFK JR’s allies are closing ranks around him. (Politico)2 Russia is using Charlie Kirk’s murder to sow division in the USIt’s using the momentum to push pro-Kremlin narratives and divide Americans. (WP $)+ The complicated phenomenon of political violence. (Vox)+ We don’t know what being ‘terminally online’ means any more. (Wired $)3 Nvidia will invest $5 billion in IntelThe partnership allows Intel to develop custom CPUs to work with Nvidia’s chips. (WSJ $)+ It’s a much-needed financial shot in the arm for Intel. (WP $)+ It’s also great news for Intel’s Asian suppliers. (Bloomberg $) 4 Medical AI tools downplay symptoms in women and ethnic minoritiesExperts fear that LLM-powered tools could lead to worse health outcomes. (FT $)+ Artificial intelligence is infiltrating health care. We shouldn’t let it make all the decisions. (MIT Technology Review) 5 AI browsers have hit the mainstreamWhere’s the off switch? (Wired $)+ AI means the end of internet search as we’ve known it. (MIT Technology Review) 6 China has entered the global brain interface raceIts ambitious government-backed startups are primed to challenge Neuralink. (Bloomberg $)+ This patient’s Neuralink brain implant gets a boost from generative AI. (MIT Technology Review) 7 What makes humans unique in the age of AI?Defining the distinctions between us and machines isn’t as easy as it used to be. (New Yorker $)+ How AI can help supercharge creativity. (MIT Technology Review) 8 This ship helps to reconnect Africa’s internetAI needs high speed internet, which needs undersea cables. (Rest of World)+ What Africa needs to do to become a major AI player. (MIT Technology Review)
9 Hundreds of people queued in Beijing to buy Apple’s new iPhoneDesire for Apple products in the country appears to be alive and well. (Reuters) 10 San Francisco’s idea of a great night out? A robot cage fightIt’s certainly one way to have a good time. (NYT $)
Quote of the day “Get off the iPad!” —An irate air traffic controller tells the pilots of a Spirit Airlines flight to pay attention to avoid potentially colliding with Donald Trump’s Air Force One aircraft, Ars Technica reports. One more thing
We used to get excited about technology. What happened?As a philosopher who studies AI and data, Shannon Vallor’s Twitter feed is always filled with the latest tech news. Increasingly, she’s realized that the constant stream of information is no longer inspiring joy, but a sense of resignation.Joy is missing from our lives, and from our technology. Its absence is feeding a growing unease being voiced by many who work in tech or study it. Fixing it depends on understanding how and why the priorities in our tech ecosystem have changed. Read the full story. We can still have nice things A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.) + Would you go about your daily business with a soft toy on your shoulder? This intrepid reporter gave it a go.+ How dying dinosaurs shaped the landscapes around us.+ I can’t believe I missed Pythagorean Theorem day earlier this week.+ Inside the rise in popularity of the no-water yard.

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A pivotal meeting on vaccine guidance is underway—and former CDC leaders are alarmed

This week has been an eventful one for America’s public health agency. Two former leaders of the US Centers for Disease Control and Prevention explained the reasons for their sudden departures from the agency in a Senate hearing. And they described how CDC employees are being instructed to turn their backs on scientific evidence. The CDC’s former director Susan Monarez and former chief medical officer Debra Houry took questions from a Senate committee on Wednesday. They painted a picture of a health agency in turmoil—and at risk of harming the people it is meant to serve. On Thursday, an advisory CDC panel that develops vaccine guidance met for a two-day discussion on multiple childhood vaccines. During the meeting, which was underway as The Checkup went to press, members of the panel were set to discuss those vaccines and propose recommendations on their use. Monarez worries that access to childhood vaccines is under threat—and that the public health consequences could be dire. “If vaccine protections are weakened, preventable diseases will return,” she said.
As the current secretary of health and human services, Robert F. Kennedy Jr. oversees federal health and science agencies that include the CDC, which monitors and responds to threats to public health. Part of that role involves developing vaccine recommendations. As we’ve noted before, RFK Jr. has long been a prominent critic of vaccines. He has incorrectly linked commonly used ingredients to autism and made other incorrect statements about risks associated with various vaccines.
Still, he oversaw the recruitment of Monarez—who does not share those beliefs—to lead the agency. When she was sworn in on July 31, Monarez, who is a microbiologist and immunologist, had already been serving as acting director of the agency. She had held prominent positions at other federal agencies and departments too, including the Advanced Research Projects Agency for Health (ARPA-H) and the Biomedical Advanced Research and Development Authority (BARDA). Kennedy described her as “a public health expert with unimpeachable scientific credentials.” His opinion seems to have changed somewhat since then. Just 29 days after Monarez took on her position, she was turfed out of the agency. And in yesterday’s hearing, she explained why. On August 25, Kennedy asked Monarez to do two things, she said. First, he wanted her to commit to firing scientists at the agency. And second, he wanted her to “pre-commit” to approve vaccine recommendations made by the agency’s Advisory Committee on Immunization Practices (ACIP), regardless of whether there was any scientific evidence to support those recommendations, she said. “He just wanted blanket approval,” she said during her testimony.  She refused both requests. Monarez testified that she didn’t want to get rid of hardworking scientists who played an important role in keeping Americans safe. And she said she could not commit to approving vaccine recommendations without reviewing the scientific evidence behind them and maintain her integrity. She was sacked. Those vaccine recommendations are currently under discussion, and scientists like Monarez are worried about how they might change. Kennedy fired all 17 members of the previous committee in June. (Monarez said she was not consulted on the firings and found out about them through media reports.) “A clean sweep is needed to reestablish public confidence in vaccine science,” Kennedy wrote in a piece for the Wall Street Journal at the time. He went on to replace those individuals with eight new members, some of whom have been prominent vaccine critics and have spread misinformation about vaccines. One later withdrew. That new panel met two weeks later. The meeting included a presentation about thimerosal—a chemical that Kennedy has incorrectly linked to autism, and which is no longer included in vaccines in the US—and a proposal to recommend that the MMRV vaccine (for measles, mumps, rubella, and varicella) not be offered to children under the age of four.

Earlier this week, five new committee members were named. They include individuals who have advocated against vaccine mandates and who have argued that mRNA-based covid vaccines should be removed from the market. All 12 members are convening for a meeting that runs today and tomorrow. At that meeting, members will propose recommendations for the MMRV vaccine and vaccines for covid-19 and hepatitis B, according to an agenda published on the CDC website. Those are the recommendations for which Monarez says she was asked to provide “blanket approval.” “My worst fear is that I would then be in a position of approving something that reduces access [to] lifesaving vaccines to children and others who need them,” she said. That job now goes to Jim O’Neill, the deputy health secretary and acting CDC director (also a longevity enthusiast), who now holds the authority to approve those recommendations. We don’t yet know what those recommendations will be. But if they are approved, they could reshape access to vaccines for children and vulnerable people in the US. As six former chairs of the committee wrote for STAT: “ACIP is directly linked to the Vaccines for Children program, which provides vaccines without cost to approximately 50% of children in the US, and the Affordable Care Act that requires insurance coverage for ACIP-recommended vaccines to approximately 150 million people in the US.” Drops in vaccine uptake have already contributed to this year’s measles outbreak in the US, which is the biggest in decades. Two children have died. We are already seeing the impact of undermined trust in childhood vaccines. As Monarez put it: “The stakes are not theoretical.” This article first appeared in The Checkup, MIT Technology Review’s weekly biotech newsletter. To receive it in your inbox every Thursday, and read articles like this first, sign up here.

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Discovering new solutions to century-old problems in fluid dynamics

Our new method could help mathematicians leverage AI techniques to tackle long-standing challenges in mathematics, physics and engineering.For centuries, mathematicians have developed complex equations to describe the fundamental physics involved in fluid dynamics. These laws govern everything from the swirling vortex of a hurricane to airflow lifting an airplane’s wing.Experts can carefully craft scenarios that make theory go against practice, leading to situations which could never physically happen. These situations, such as when quantities like velocity or pressure become infinite, are called ‘singularities’ or ‘blow ups’. They help mathematicians identify fundamental limitations in the equations of fluid dynamics, and help improve our understanding of how the physical world functions.In a new paper, we introduce an entirely new family of mathematical blow ups to some of the most complex equations that describe fluid motion. We’re publishing this work in collaboration with mathematicians and geophysicists from institutions including Brown University, New York University and Stanford UniversityOur approach presents a new way to leverage AI techniques to tackle longstanding challenges in mathematics, physics and engineering that demand unprecedented accuracy and interpretability.The importance of unstable singularitiesStability is a crucial aspect of singularity formation. A singularity is considered stable if it is robust to small changes. Conversely, an unstable singularity requires extremely precise conditions.It’s expected that unstable singularities play a major role in foundational questions in fluid dynamics because mathematicians believe no stable singularities exist for the complex boundary-free 3D Euler and Navier-Stokes equations. Finding any singularity in the Navier-Stokes equations is one of the six famous Millennium Prize Problems that are still unsolved.With our novel AI methods, we presented the first systematic discovery of new families of unstable singularities across three different fluid equations. We also observed a pattern emerging as the solutions become increasingly unstable. The number characterizing the speed of the blow up, lambda (λ), can be plotted against the order of instability, which is the number of unique ways the solution can deviate from the blow up. The pattern was visible in two of the equations studied, the Incompressible Porous Media (IPM) and Boussinesq equations. This suggests the existence of more unstable solutions, whose hypothesized lambda values lie along the same line.

We discovered these singularies by incorporating machine learning techniques such as second order optimizers for training neural networks. These methods allowed us to refine our accuracy to an unprecedented level. For reference, our largest errors addressed are equivalent to predicting the diameter of the Earth to within a few centimeters.Here we show an example of the vorticity (Ω) field found for one of the equations studied. This is a measure of how much the fluid is spinning at each point.

We also show a one-dimensional slice through the same field along an axis for all of the instabilities we discovered, showing the evolution of increasingly unstable singularities.

Novel method navigates a vast landscape of singularitiesOur approach is based on the use of Physics-Informed Neural Networks (PINNs). Unlike conventional neural networks that learn from vast datasets, we trained our models to match equations which model the laws of physics. The network’s output is constantly checked against what the physical equations expect, and it learns by minimizing its ‘residual’, the amount by which its solution fails to satisfy the equations.

Our use of PINNs goes beyond their typical role as general-purpose tools used for solving partial differential equations (PDEs). By embedding mathematical insights directly into the training, we were able to capture elusive solutions — such as unstable singularities — that have long-challenged conventional methods.At the same time, we developed a high-precision framework that pushes PINNs to near-machine precision, enabling the level of accuracy required for rigorous computer-assisted proofs.A new era of computer-assisted mathematicsThis breakthrough represents a new way of doing mathematical research, combining deep mathematical insights with cutting-edge AI. We’re excited for this work to help usher in a new era where long-standing challenges are tackled with AI and computer-assisted proofs.

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The Download: AI-designed viruses, and bad news for the hydrogen industry

This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. AI-designed viruses are here and already killing bacteria Artificial intelligence can draw cat pictures and write emails. Now the same technology can compose a working genome.A research team in California says it used AI to propose new genetic codes for viruses—and managed to get several of them to replicate and kill bacteria.The work, described in a preprint paper, has the potential to create new treatments and accelerate research into artificially engineered cells. But experts believe it is also an “impressive first step” toward AI-designed life forms. Read the full story. —Antonio Regalado
Clean hydrogen is facing a big reality check
Hydrogen is sometimes held up as a master key for the energy transition. It can be made using several low-emissions methods and could play a role in cleaning up industries ranging from agriculture to aviation to shipping. This moment is a complicated one for the green fuel, though, as a new report from the International Energy Agency lays out. A number of major projects face cancellations and delays. The US in particular is seeing a slowdown after changes to key tax credits and cuts in support for renewable energy.Still, there are bright spots for the industry, including in China, and new markets could soon become crucial for growth. Here are three things to know about the state of hydrogen in 2025. —Casey Crownhart This article is from The Spark, MIT Technology Review’s weekly climate newsletter. To receive it in your inbox every Wednesday, sign up here. The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 Meta’s new smart glasses have a tiny screenWelcome back, Google Glass. (NYT $)+ Mark Zuckerberg says the devices are our best bet at unlocking “superintelligence.” (FT $)+ He’s also refusing to let his metaverse dream die. (WP $)+ What’s next for smart glasses. (MIT Technology Review)

2 DeepSeek writes flawed code for groups China disfavorsResearchers found that it produced code with major security weaknesses when told it was for the banned spiritual movement Falun Gong. (WP $) 3 The CDC is a messIts advice can no longer be trusted. Here’s where to turn instead. (The Atlantic $)+ Its ousted director claims RFK Jr pressured her to approve vaccine changes. (Wired $)+ Why childhood vaccines are a public health success story. (MIT Technology Review) 4 Google’s gen-AI image model Nano Banana is a global smash hitParticularly in India. (TechCrunch)+ Nvidia’s Jensen Huang really loves it, too. (Wired $) 5 OpenAI has found a way to reduce its models’ schemingBut they weren’t able to eradicate it completely. (ZDNET)+ AI systems are getting better at tricking us. (MIT Technology Review) 6 Inside Texas’ efforts to keep vector-borne diseases at bayThe Arbovirus-Entomology Laboratory analyzes mosquitos, but resources are drying up. (Vox)+ Brazil is fighting dengue with bacteria-infected mosquitos. (MIT Technology Review) 7 Financial AI advisors are comingBut companies are still cautious about rolling them out at scale. (WSJ $)+ Warning: ChatGPT’s advice may not necessarily be financially sound. (NYT $)+ Your most important customer may be AI. (MIT Technology Review) 8 China’s flying car market is raring to take offHovering taxis above the city of Guangzhou could soon become commonplace. (FT $)+ Eek—a pair of flying cars collided during an airshow earlier this week. (CNN)+ These aircraft could change how we fly. (MIT Technology Review) 9 Samsung’s US fridges will soon display adsWow, that’s not depressing at all. (The Verge)10 Online dating is getting even worse 💔And AI is to blame. (NY Mag $)
Quote of the day
“How do educators have any real choice here about intentional use of AI when it is just being injected into educational environments without warning, without testing and without consultation?” —Eamon Costello, an associate professor at Dublin City University, tells the Washington Post why he’s against Google adding a ‘homework help’ button to its Chrome browser. One more thing Your boss is watchingWorking today—whether in an office, a warehouse, or your car—can mean constant electronic surveillance with little transparency, and potentially with livelihood-­ending consequences if your productivity flags.But what matters even more than the effects of this ubiquitous monitoring on privacy may be how all that data is shifting the relationships between workers and managers, companies and their workforce. It’s a huge power shift that may require new policies and protections. Read the full story. —Rebecca Ackermann
We can still have nice things A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.)+ Find yourself feeling sleepy every afternoon? Here’s how to fight the post-lunch slump.+ Life lessons from a London graffiti artist.+ If you’re in need of a laugh, a good comedy is a great place to start.+ Yellowstone’s famous hot springs are under attack—from tourists’ hats.

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Clean hydrogen is facing a big reality check

Hydrogen is sometimes held up as a master key for the energy transition. It can be made using several low-emissions methods and could play a role in cleaning up industries ranging from agriculture and chemicals to aviation and long-distance shipping. This moment is a complicated one for the green fuel, though, as a new report from the International Energy Agency lays out. A number of major projects face cancellations and delays, especially in the US and Europe. The US in particular is seeing a slowdown after changes to key tax credits and cuts in support for renewable energy. Still, there are bright spots for the industry, including in China, and new markets could soon become crucial for growth. Here are three things to know about the state of hydrogen in 2025. 1. Expectations for annual clean hydrogen production by 2030 are shrinking, for the first time.
While hydrogen has the potential to serve as a clean fuel, today most is made with processes that use fossil fuels. As of 2025, about a million metric tons of low-emissions hydrogen are produced annually. That’s less than 1% of total hydrogen production. In last year’s Global Hydrogen Report, the IEA projected that global production of low-emissions hydrogen would grow to as high as 49 million metric tons annually by 2030. That prediction has been steadily climbing since 2021, as more places around the world sink money into developing and scaling up the technology.
In the 2025 edition, though, the IEA’s production prediction had shrunk to 37 million metric tons annually by 2030. That’s still a major expansion from today’s numbers, but it’s the first time the agency has cut its predictions for the end of the decade. The report cited the cancellations of both electrolysis projects (those that use electricity to generate hydrogen) and carbon capture projects as reasons for the pullback. The cancelled and delayed projects included sites across Africa, the Americas, Europe, and Australia.  2. China is dominating production today and could produce competitively cheap green hydrogen by the end of the decade. Speaking of electrolysis projects, China is the driving force in manufacturing and development of electrolyzers, the devices that use electricity to generate green hydrogen, according to the new IEA report. As of July 2025, the country accounted for 65% of the installed or almost installed electrolyzer capacity in the world. It also manufactures nearly 60% of the world’s electrolyzers. A major barrier for clean hydrogen today is that dirty methods based on fossil fuels are just so much cheaper than cleaner ones. But China is well on its way to narrowing that gap. Today, it’s roughly three times more expensive to make and install an electrolyzer anywhere else in the world than in China. The country could produce green hydrogen that’s cost-competitive with fossil hydrogen by the end of the decade, according to the IEA report. That could make the fuel an obvious choice for both new and existing uses of hydrogen. 3. Southeast Asia could be a major emerging market for low-emissions hydrogen. One region that could become a major player in the green hydrogen market is Southeast Asia. The economy is growing fast, and so is energy demand.

There’s an existing market for hydrogen in Southeast Asia already. Today, the region uses about 4 million metric tons of hydrogen annually, largely in the oil refining industry and the chemical business, where it is used to make ammonia and methanol. International shipping is also concentrated in the region—the port of Singapore supplied about one-sixth of all the fuel used in global shipping in 2024, more than any other single location. Today, that total consists almost exclusively of fossil fuels. But there’s been work to test cleaner fuels, including methanol and ammonia, and interest in shifting to hydrogen in the longer term. Clean hydrogen could slot into these existing industries and help cut emissions. There are 25 projects under development right now in the region, though additional support for renewables will be crucial to getting significant capacity up and running. Overall, hydrogen is getting a reality check, revealing problems cutting through the hype we’ve seen in recent years. The next five years will tell whether the fuel can live up to the still-lofty hopes.   This article is from The Spark, MIT Technology Review’s weekly climate newsletter. To receive it in your inbox every Wednesday, sign up here.

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Oil Drops as Trump, Xi Meeting Curbs Tariff Expectations

Oil extended a three-day losing streak after an amicable exchange between President Donald Trump and Chinese President Xi Jinping reduced traders concerns that US threats of indirect levies on Russian crude supplies would come to pass.  West Texas Intermediate fell 1.4% to settle just below $63 a barrel as traders rolled over positions ahead of the October contract’s expiry next week, adding to choppy trading. Trump said he would meet Jinping on the sidelines of the upcoming Asia-Pacific Economic Cooperation summit, but there was little publicly said about China’s continued purchase of Russian crude supplies.  The meeting, which comes just a week after the US urged allies to impose tariffs as high as 100% on China and India, reduced traders’ expectations of incoming US secondary tariffs against China, a move that could inflame trade tensions and tighten global balances.  “The fact that Trump did not highlight Chinese purchases of Russian crude following his meeting with Xi has lowered the perceived probability of US secondary sanctions,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Group. “At the same time, India continues to buy Russian barrels, and the EU package language doesn’t appear strong enough to trigger further US action.” Crude has traded in a $5 band for most of the past month-and-a-half as traders take in conflicting signals on supply and weigh them against the outlook for the US economy. Repeated Ukrainian strikes on Russian energy assets along with global calls to place levies against Moscow’s crude have underpinned support. But so far, most experts still expect the market to move into a glut, with fears of oversupply reining in moves to the upside for weeks.  “Attacks on Russian oil infrastructure are giving some upside support to prices, but it’s still tempered by a market looking for a surplus in the months

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Exxon Says Demand Makes Case for Fossil Fuel Growth

Exxon Mobil Corp. will pursue fossil fuel growth long into the future to meet demand it says will “not materially change” between now and 2050. The Texas oil major is not concerned with “chasing the narrative of the week” but will invest in oil and gas projects that it believes will be needed for decades to come, Dan Ammann, president of the company’s upstream division, said at the BloombergNEF Barrel of Tomorrow in the Age of AI summit in Houston Thursday. Exxon plans to double its sales of liquefied natural gas by 2030 and is investing heavily in oil growth in Guyana and the Permian Basin.   “We take a long-term view based on the fundamentals, and we invest behind that, Ammann said. “Our long-term view of the global energy equation is that the demand for energy is going to continue to grow.” Exxon has not deviated from its fossil fuel focused strategy despite global climate goals. Ammann said this strategy has served it well compared with other oil companies that pivoted to renewable energy only to come back to oil and gas when the returns were lacking.  “We saw some oil and gas companies, five, six, seven years ago say they were going to reduce production 40% by 2030,” he said. “There was literally no math you could do to suggest that was a good idea.” Exxon sees oil and gas holding steady at 55% of the global energy mix by 2050 despite dramatic growth from low carbon sources, chiefly due to a large increase in overall consumption. While oil demand will likely plateau around 2030, gas will help make up the shortfall, the company said in its Energy Outlook published last month.  “We see material growth on the gas side,” Ammann said.  Exxon is planning to bring its Golden Pass LNG operation, a

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Turkey Plans Energy Deals With USA

Turkey plans to sign new energy deals with the US as early as next week, as it seeks to strengthen ties with Washington from commodities to defense. The agreements could include pledges to buy more US liquefied natural gas, according to people familiar with the matter, who asked not to be identified discussing the plans. Turkish President Recep Tayyip Erdogan is also seeking a meeting with his US counterpart Donald Trump on the sidelines of the UN General Assembly in New York next week, the people said. Turkey’s Energy Ministry declined to comment. The diplomatic and trade push comes as Turkey tries to reset relations with the US after years of strain over the purchase of Russian arms and conflicting stances on Syria’s civil war.  It also follows Trump’s move to pressure NATO allies like Ankara to stop buying Russian oil. Turkey has become one of the biggest importers of Russian crude even as it supplies Ukraine with drones and artillery shells. Erdogan has refrained from sanctioning Russia and tried to broker a peace between the warring parties. Turkey’s energy mix increasingly represents a similar balancing act. Moscow remains its biggest gas supplier, providing about 41% of imports last year, according to Turkish regulator data. But the US has become its top source of seaborne supply, with volumes almost doubling from 2020-2024 and set to grow further after a string of deals signed at a conference last week. Energy Minister Alparslan Bayraktar also discussed LNG with US oil and gas majors ConocoPhillips and Chevron Corp during the event. In nuclear, Turkey is relying on Russia to build its first nuclear power plant while inviting US companies to invest in small modular reactors, which are quicker to build than regular facilities but aren’t yet widely available. 

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Nvidia reportedly acquires Enfabrica CEO and chip technology license

Another Enfabrica technology that’s of interest to Nvidia, according to Forrester principal analyst Charlie Dai, is Elastic Memory Fabric System (EMFASYS) that became generally available in July. EMFASYS provides AI servers flexible access to memory bandwidth and capacity through a standalone device that connects over standard network ports. The combination of ACF-S and EMFASYS, according to Dai, might help Nvidia unlock higher GPU utilization rates and lower total cost of ownership — key metrics for hyperscalers and LLM developers operating at the cutting edge of AI. Acqui-hires instead of acquisitions Nvidia’s $900 million deal to absorb Enfabrica’s leadership and core technology can also be seen as a broader trend sweeping Silicon Valley, where traditional acquisitions are being replaced by strategic acqui-hires to prioritize talent and intellectual property. Meta set the tone earlier this year with a $14.3 billion investment to onboard Scale AI founder Alexandr Wang and key personnel, acquiring a 49% stake in the startup to lead its superintelligence division. Google followed with a $2.4 billion agreement to bring in Windsurf CEO Varun Mohan and several R&D staffers, licensing the startup’s agentic coding tools for its Gemini AI platform. Microsoft and Amazon’s deals with Inflection AI and Adept are also reminiscent of this pattern. The Inflection AI deal saw Mustafa Suleyman join Microsoft to head its AI division, while Adept co-founder David Luan was hired to head the e-tailer’s AGI efforts.

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House passes bill to fast-track dispatchable generation interconnection

The U.S. House of Representatives passed a bill Thursday that could give dispatchable power plants priority in interconnection queues. “The interconnection queue is overwhelmed and bogged down, leaving shovel-ready power projects waiting for years while demand continues to climb,” Rep. Troy Balderson, R-Ohio and the bill’s sponsor, said in a press release. Under the GRID Power Act, FERC would have 60 days to review proposals from regional transmission organizations and independent system operators for specific projects that would be pushed to the head of interconnection queues. The RTOs and ISOs would have to show the proposed projects would bolster grid reliability and resilience, according to the legislation. The bill defines dispatchable power as “an electric energy generation resource capable of providing known and forecastable electric supply in time intervals necessary to ensure grid reliability.” The bill requires FERC to start a rulemaking process to implement the legislation within 90 days after the bill becomes law and to complete the rulemaking within 180 days. Sens. John Hoeven, R-N.D., and Todd Young, R-Ind., have introduced a companion bill in the Senate. The Electric Power Supply Association, a trade group for power producers, supports the bill. “It has been surprising to hear that opponents of the GRID [Power] Act believe that this process will become chronic or habit-forming for grid operators or somehow represents a permanent barrier or level of discrimination against non-dispatchable projects,” EPSA President and CEO Todd Snitcher said in a “backgrounder” on the bill. “If the immediate reliability need doesn’t exist or can’t be explained, and FERC isn’t convinced both to the urgency and efficiency of the proposal, then queue prioritization doesn’t take place.” The Sierra Club said the bill — along with two other energy bills that passed the House Thursday — would hamper efforts to build cleaner, more

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DOE seeks comment on large-scale generation, transmission development

The U.S. Department of Energy on Thursday announced a “Speed to Power” initiative aimed at accelerating development of large-scale generation and transmission projects needed to power AI data centers and other emerging loads. “DOE analysis shows that the current rate of project development is inadequate to support the country’s rapidly expanding manufacturing needs and the reindustrialization of the U.S. economy,” the agency said. It kicked off the initiative with a request for information on near-term investment opportunities, project readiness, load growth expectations and infrastructure constraints. After years of flatlining, U.S. appetite for electricity is growing rapidly. The North American Electric Reliability Corp. said it expected summer peak demand to rise by 15% and winter peak demand by nearly 18% over the next decade. The reliability watchdog said in its most recent 10-year forecast that demand growth is now higher than at any point in the past two decades, with more large commercial and industrial loads as well as the continued electrification of the transportation and building sectors.  Analysts also expect aggressive growth. Consulting firm ICF said in May that demand could grow 25% from 2023 to 2030 and 78% by 2050. Bank of America Institute believes electricity demand will grow at a 2.5% compound annual growth rate through 2035, compared with an anemic 0.5% CAGR from 2014-2024. “DOE is requesting stakeholder input on how to best leverage its funding programs and authorities to rapidly expand energy generation and transmission grid capacity,” the agency said. Utilities, state energy offices, regulators, grid operators, infrastructure developers, large energy users, and other stakeholders are invited to respond by Nov. 21. The power system needs new resources quickly and if it is technology-agnostic then Speed to Power is “exactly the kind of action that DOE should be undertaking,” John Moore, director of the Sustainable FERC Project, housed at

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