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Phantom data centers: What they are (or aren’t) and why they’re hampering the true promise of AI
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More In the age of AI, public
Nuwa Pen uses computer vision and motion sensing to digitize the words you write on paper
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Nuwa Pen is a smart ballpoint
Trillion Advances Well Optimization Program at SASB Gas Field in Türkiye
Oil and natural gas producer focusing on projects in Europe and Türkiye, Trillion Energy International Inc., has continued the velocity string tubing (VS) program on
Tullow Gains on $320MM Ghana Tax Arbitration Case Win
Tullow Oil Plc gained after an international body found it wasn’t liable for a $320 million tax assessment in Ghana, where its key oil assets
Phantom data centers: What they are (or aren’t) and why they’re hampering the true promise of AI
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More In the age of AI, public
Nuwa Pen uses computer vision and motion sensing to digitize the words you write on paper
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Nuwa Pen is a smart ballpoint
Trillion Advances Well Optimization Program at SASB Gas Field in Türkiye
Oil and natural gas producer focusing on projects in Europe and Türkiye, Trillion Energy International Inc., has continued the velocity string tubing (VS) program on
Tullow Gains on $320MM Ghana Tax Arbitration Case Win
Tullow Oil Plc gained after an international body found it wasn’t liable for a $320 million tax assessment in Ghana, where its key oil assets
Phantom data centers: What they are (or aren’t) and why they’re hampering the true promise of AI
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More In the age of AI, public utilities are now facing a new, unexpected problem: Phantom data centers. On the surface, it may seem absurd: Why (and how) would anyone fabricate something as complex as a data center? But as AI demand skyrockets along with the need for more compute power, speculation around data center development is creating chaos, particularly in areas like Northern Virginia, the data center capital of the world. In this evolving landscape, utilities are being bombarded with power requests from real estate developers who may or may not actually build the infrastructure they claim. Fake data centers represent an urgent bottleneck in scaling data infrastructure to keep up with compute demand. This emerging phenomenon is preventing capital from flowing where it actually needs to. Any enterprise that can help solve this problem — perhaps leveraging AI to solve a problem created by AI — will have a significant edge. The mirage of gigawatt demands Dominion Energy, Northern Virginia’s largest utility, has received aggregate requests for 50 gigawatts of power from data center projects. That’s more power than Iceland consumes in a year. But many of these requests are either speculative or outright false. Developers are eyeing potential sites and staking their claims to power capacity long before they have the capital or any strategy around how to break ground. In fact, estimates suggest that as much as 90% of these requests are entirely bogus. In the early days of the data center boom, utilities never had to worry about fake demand. Companies like Amazon, Google and Microsoft — dubbed “hyperscalers” because they operate data centers with hundreds of thousands of servers — submitted straightforward power requests, and utilities
Nuwa Pen uses computer vision and motion sensing to digitize the words you write on paper
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Nuwa Pen is a smart ballpoint pen that digitizes the words you write on paper as you write them. The pen uses a standard D1 ballpoint ink cartridge in conjunction with AI, computer vision and motion sensors to digitize every stroke a user writes or doodles on any type of piece of paper. Nuwa Pen will show the pen at CES 2025, the big tech trade show in Las Vegas this week. Shipping in public beta in February 2025, Nuwa Pen said it can help people rediscover the joy of writing without losing the productivity of digital applications, bridging the gap between analog and digital in a way no other device can. Available to purchase at a special pre-order price of $295 and with over 5,000 pre-orders to date, CES attendees can try Nuwa Pen firsthand at CES Unveiled Las Vegas on Sunday, January 5, at the Mandalay Bay Hotel, with CES preview media interviews available by appointment on January 6, and at the Venetian Expo, Booth 51272 from January 7 – 10. View a short video about Nuwa Pen here. There are multiple, well-documented downsides of humanity’s screen-obsessed lives: poor REM sleep, reduced creativity and declining memory retention. Most people spend eight or more hours per day in front of a computer—often followed by recreational screen use. Recent mounting research, however, praises the benefits of handwriting, which has clear benefits for thinking and learning as it helps to boost literacy and communication skills. “Writing is one of the most human acts. Many of history’s most extraordinary ideas and literature were handwritten, not typed,” said Nuwa Pen CEO and founder Marc Tuiner, in a statement. “We’ve developed the smartest, most advanced
Trillion Advances Well Optimization Program at SASB Gas Field in Türkiye
Oil and natural gas producer focusing on projects in Europe and Türkiye, Trillion Energy International Inc., has continued the velocity string tubing (VS) program on two tripods after previously completing operations on the Akcakoca platform in late November. The company said in a media release that this week, a crane barge arrived at the SASB gas field to transport the snubbing unit from the Akcakoca platform to the Akkaya tripod for the next operation on the Alapli-2 well where 2,996 meters (9,839 feet) of 2 3/8 tubing will be run. Trillion said it holds a 49 percent interest in the SASB natural gas field, a Black Sea natural gas development, and a 19.6 percent (except three wells with 9.8 percent) interest in the Cendere oil field. After completing Alapli-2, the crane barge will move the snubbing unit to the East Ayazli tripod where 2,888 meters (9475 feet) of 2 3/8 VS tubing will be run in the Bayhanli-2 well, it said. Trillion said it will employ three sets of rupture discs in each well to provide buoyancy for the tubing within the horizontal well sections during installation. These discs will then be ruptured. Following the safe deployment of the VS string, the crane barge and snubbing crew will be demobilized, and nitrogen stimulation will commence. Trillion notes that nitrogen lifting has recently demonstrated its effectiveness in initiating gas well production. The whole operation is expected to be completed within approximately two weeks, weather permitting, the company said. Trillion added that together with its technical advisors it will continue working onsite to optimize production. Gas lift compressors are currently being sized for various wells, the first being South Akcakoca. At the start of December 2024, Trillion said it installed 2 3/8-inch V tubing in four existing wells, including three extended-reach wells
Tullow Gains on $320MM Ghana Tax Arbitration Case Win
Tullow Oil Plc gained after an international body found it wasn’t liable for a $320 million tax assessment in Ghana, where its key oil assets are located. The International Chamber of Commerce said the tribunal found the branch profit remittance tax assessment by the West African nation “falls outside of the tax regime provided for in the petroleum agreements,” according to a Tullow statement published late Thursday. The company filed a request for arbitration in 2021. The shares rose as much as 14% to 25 pence. The stock pared gains to 24.34 pence as of 8:28 a.m. in London trading. Ghana handed back-tax demands to some of the biggest companies operating there, including MTN Group Ltd., Gold Fields Ltd. and Kosmos Energy Ltd. in recent years. The country was seeking additional revenue after losing access to international capital markets because of its ballooning debt and loan-service costs. The ICC announcement is a boost for Tullow after Chief Executive Officer Rahul Dhir said he would step down and Kosmos Energy dropped a bid for the explorer following “very preliminary discussions” around a deal. “The removal of a further liability will take some pressure off the stretched balance sheet,” Ashley Kelty, an analyst at Panmure Gordon & Co., said in a note. Tullow still has two remaining disputed tax assessments from the Ghana Revenue Authority for which it filed requests for arbitration with the ICC. They relate to loan interest over a decade and business interruption insurance proceeds it received. Those assessments total $387 million plus penalties, Tullow said in 2023. “I look forward to constructive discussions with the government of Ghana to resolve the remaining claims,” Dhir said in the statement. While the decision in favor of Tullow brings optimism ahead of the other cases, replacing Dhir presents another obstacle, Kelty said. “Uncertainty over who
Phantom data centers: What they are (or aren’t) and why they’re hampering the true promise of AI
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More In the age of AI, public utilities are now facing a new, unexpected problem: Phantom data centers. On the surface, it may seem absurd: Why (and how) would anyone fabricate something as complex as a data center? But as AI demand skyrockets along with the need for more compute power, speculation around data center development is creating chaos, particularly in areas like Northern Virginia, the data center capital of the world. In this evolving landscape, utilities are being bombarded with power requests from real estate developers who may or may not actually build the infrastructure they claim. Fake data centers represent an urgent bottleneck in scaling data infrastructure to keep up with compute demand. This emerging phenomenon is preventing capital from flowing where it actually needs to. Any enterprise that can help solve this problem — perhaps leveraging AI to solve a problem created by AI — will have a significant edge. The mirage of gigawatt demands Dominion Energy, Northern Virginia’s largest utility, has received aggregate requests for 50 gigawatts of power from data center projects. That’s more power than Iceland consumes in a year. But many of these requests are either speculative or outright false. Developers are eyeing potential sites and staking their claims to power capacity long before they have the capital or any strategy around how to break ground. In fact, estimates suggest that as much as 90% of these requests are entirely bogus. In the early days of the data center boom, utilities never had to worry about fake demand. Companies like Amazon, Google and Microsoft — dubbed “hyperscalers” because they operate data centers with hundreds of thousands of servers — submitted straightforward power requests, and utilities
Nuwa Pen uses computer vision and motion sensing to digitize the words you write on paper
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Nuwa Pen is a smart ballpoint pen that digitizes the words you write on paper as you write them. The pen uses a standard D1 ballpoint ink cartridge in conjunction with AI, computer vision and motion sensors to digitize every stroke a user writes or doodles on any type of piece of paper. Nuwa Pen will show the pen at CES 2025, the big tech trade show in Las Vegas this week. Shipping in public beta in February 2025, Nuwa Pen said it can help people rediscover the joy of writing without losing the productivity of digital applications, bridging the gap between analog and digital in a way no other device can. Available to purchase at a special pre-order price of $295 and with over 5,000 pre-orders to date, CES attendees can try Nuwa Pen firsthand at CES Unveiled Las Vegas on Sunday, January 5, at the Mandalay Bay Hotel, with CES preview media interviews available by appointment on January 6, and at the Venetian Expo, Booth 51272 from January 7 – 10. View a short video about Nuwa Pen here. There are multiple, well-documented downsides of humanity’s screen-obsessed lives: poor REM sleep, reduced creativity and declining memory retention. Most people spend eight or more hours per day in front of a computer—often followed by recreational screen use. Recent mounting research, however, praises the benefits of handwriting, which has clear benefits for thinking and learning as it helps to boost literacy and communication skills. “Writing is one of the most human acts. Many of history’s most extraordinary ideas and literature were handwritten, not typed,” said Nuwa Pen CEO and founder Marc Tuiner, in a statement. “We’ve developed the smartest, most advanced
Trillion Advances Well Optimization Program at SASB Gas Field in Türkiye
Oil and natural gas producer focusing on projects in Europe and Türkiye, Trillion Energy International Inc., has continued the velocity string tubing (VS) program on two tripods after previously completing operations on the Akcakoca platform in late November. The company said in a media release that this week, a crane barge arrived at the SASB gas field to transport the snubbing unit from the Akcakoca platform to the Akkaya tripod for the next operation on the Alapli-2 well where 2,996 meters (9,839 feet) of 2 3/8 tubing will be run. Trillion said it holds a 49 percent interest in the SASB natural gas field, a Black Sea natural gas development, and a 19.6 percent (except three wells with 9.8 percent) interest in the Cendere oil field. After completing Alapli-2, the crane barge will move the snubbing unit to the East Ayazli tripod where 2,888 meters (9475 feet) of 2 3/8 VS tubing will be run in the Bayhanli-2 well, it said. Trillion said it will employ three sets of rupture discs in each well to provide buoyancy for the tubing within the horizontal well sections during installation. These discs will then be ruptured. Following the safe deployment of the VS string, the crane barge and snubbing crew will be demobilized, and nitrogen stimulation will commence. Trillion notes that nitrogen lifting has recently demonstrated its effectiveness in initiating gas well production. The whole operation is expected to be completed within approximately two weeks, weather permitting, the company said. Trillion added that together with its technical advisors it will continue working onsite to optimize production. Gas lift compressors are currently being sized for various wells, the first being South Akcakoca. At the start of December 2024, Trillion said it installed 2 3/8-inch V tubing in four existing wells, including three extended-reach wells
Tullow Gains on $320MM Ghana Tax Arbitration Case Win
Tullow Oil Plc gained after an international body found it wasn’t liable for a $320 million tax assessment in Ghana, where its key oil assets are located. The International Chamber of Commerce said the tribunal found the branch profit remittance tax assessment by the West African nation “falls outside of the tax regime provided for in the petroleum agreements,” according to a Tullow statement published late Thursday. The company filed a request for arbitration in 2021. The shares rose as much as 14% to 25 pence. The stock pared gains to 24.34 pence as of 8:28 a.m. in London trading. Ghana handed back-tax demands to some of the biggest companies operating there, including MTN Group Ltd., Gold Fields Ltd. and Kosmos Energy Ltd. in recent years. The country was seeking additional revenue after losing access to international capital markets because of its ballooning debt and loan-service costs. The ICC announcement is a boost for Tullow after Chief Executive Officer Rahul Dhir said he would step down and Kosmos Energy dropped a bid for the explorer following “very preliminary discussions” around a deal. “The removal of a further liability will take some pressure off the stretched balance sheet,” Ashley Kelty, an analyst at Panmure Gordon & Co., said in a note. Tullow still has two remaining disputed tax assessments from the Ghana Revenue Authority for which it filed requests for arbitration with the ICC. They relate to loan interest over a decade and business interruption insurance proceeds it received. Those assessments total $387 million plus penalties, Tullow said in 2023. “I look forward to constructive discussions with the government of Ghana to resolve the remaining claims,” Dhir said in the statement. While the decision in favor of Tullow brings optimism ahead of the other cases, replacing Dhir presents another obstacle, Kelty said. “Uncertainty over who
The biggest AI flops of 2024
The past 12 months have been undeniably busy for those working in AI. There have been more successful product launches than we can count, and even Nobel Prizes. But it hasn’t always been smooth sailing. AI is an unpredictable technology, and the increasing availability of generative models has led people to test their limits in new, weird, and sometimes harmful ways. These were some of 2024’s biggest AI misfires. AI slop infiltrated almost every corner of the internet Generative AI makes creating reams of text, images, videos, and other types of material a breeze. Because it takes just a few seconds between entering a prompt for your model of choice to spit out the result, these models have become a quick, easy way to produce content on a massive scale. And 2024 was the year we started calling this (generally poor quality) media what it is—AI slop. This low-stakes way of creating AI slop means it can now be found in pretty much every corner of the internet: from the newsletters in your inbox and books sold on Amazon, to ads and articles across the web and shonky pictures on your social media feeds. The more emotionally evocative these pictures are (wounded veterans, crying children, a signal of support in the Israel-Palestine conflict) the more likely they are to be shared, resulting in higher engagement and ad revenue for their savvy creators. AI slop isn’t just annoying—its rise poses a genuine problem for the future of the very models that helped to produce it. Because those models are trained on data scraped from the internet, the increasing number of junky websites containing AI garbage means there’s a very real danger models’ output and performance will get steadily worse. AI art is warping our expectations of real events 2024 was also
Why a U.S. Bitcoin Strategic Reserve Is Critical to Fending Off China
Finance is increasingly a weapon of war. United States policymakers and our allies focus too narrowly on macroeconomic tools like sanctions and promoting the dollar as a reserve currency when the modern front is evolving. Today, the real battles are being waged on smartphones and in the global currency markets. China is waging a multi-decade plan to displace the United States’ greatest asset: the dollar. The dollar is critical to the United States’ economic and geopolitical power as the global reserve currency. Without it, our influence would weaken, and our debt would become a bigger problem. This is precisely what the Chinese Communist Party and the Kremlin want. China and Russia have shed billions of dollars worth of U.S. Treasury holdings while growing their stockpiles of gold. Our sanctions, designed to separate countries from the “Western” economic system, are no longer enough of a deterrent for those who can control financial activity within their borders and project their power outward. Authoritarian adversaries — including China, Iran and Russia — are actively building parallel cross-border economic systems that will pull into their orbits not only neighboring countries but also our allies who trade heavily with them. For example, over half of businesses in Japan accept Alipay, while more than one-third accept WeChat Pay. This distribution gives two Chinese firms unprecedented visibility into the individual market transactions of Japanese consumers and businesses. It could allow China to disrupt Japan’s economy should tensions escalate, such as in a potential conflict over Taiwan. How the U.S. can respond China sees financial technology and cryptocurrency as tools to extend its financial power and surveillance globally. The United States must respond in two ways: export our financial technology and systems worldwide and embrace bitcoin as a strategic reserve asset instead of stifling innovation. Lawmakers and politicians
Blockchain Fragmentation Is a Major Problem That Must Be Addressed in 2025
Over the past year, the crypto industry has attracted users on an exponential scale, with monthly active addresses tripling from 70 million in 2023 to over 220 million in 2024. With over 300 chains listed, the ecosystem should be able to cater to the needs of all types of users sustainably. However, in this sprawling landscape, a majority of activity and liquidity is locked within multiple Ethereum Layer 2’s. In its current state, Ethereum is reminiscent of early 1500s Europe, which experienced breakthroughs like the printing press and advanced shipbuilding that enhanced resource management. Today, Ethereum’s flourishing DeFi ecosystem is equipped with primitives such as lending and borrowing, staking and restaking. However, much like Europe’s challenges with scarce and overutilized resources, Ethereum faces obstacles in making other assets useful in its own home — its Layer 1. The current blockchain ecosystem thus remains frustratingly fragmented. While chain abstraction has been a trending narrative with many projects making progress, solutions like intents usually involve sequencers that favor large players when filling orders between blockchains, leading to centralization. Furthermore, there is no additional utility created for users as most solutions are focused on simply swapping assets. Despite impressive technological foundations, we’ve created a landscape where digital assets are constrained rather than empowered. Top blockchain resources such as Ethereum are underutilized and limited by rigid architectural boundaries. For true interoperability to exist, in 2025, we must take a step back and re-approach blockchain modularity from a fresh perspective. The illusion of modularity The common analogy of blockchain as “Lego blocks” oversimplifies a complex technological landscape. Unlike uniform construction pieces, blockchain components are intricate systems with specific dependencies and complex interoperability challenges. Consider a practical scenario: moving an asset between different blockchain networks should be straightforward. Yet current solutions like basic token swaps offer
RRC Adopts Significant Overhaul of Oil, Gas Waste Management Rules
In a statement posted on its website recently, the Texas Railroad Commission (RRC) announced that it has “adopted a significant overhaul of rules regulating oil and gas waste management facilities in Texas”. The development comes “after extensive reviews of public comments and stakeholder input”, the RRC outlined in the statement, which highlighted that the group’s commissioners voted to adopt the new rules at an open meeting on December 17. The RRC pointed out in the statement that this is “the first overhaul of RRC’s waste management rules in four decades”. It said the new rules help the RRC continue to safeguard groundwater and surface water while adapting to modern waste management practices, such as recycling produced water, and recent advancements in production methods. In its statement, the RRC noted that the regulations “cover waste from oil and gas operations … as well as waste from other operations for which the legislature has given the RRC jurisdiction including geothermal, carbon sequestration, and brine mining wells”. The RRC said the rule updates requirements on the design, construction, operation, monitoring, and closure of waste management units and stated that it will improve the RRC’s ability to track and collect data on oilfield waste transported throughout Texas. It also highlighted in the statement that the new rules “codify informal guidance that RRC experts have developed over the course of several decades to give operators and the public certainty on how regulations of waste management facilities are carried out”. “The adopted rules will enhance the RRC’s oversight of waste management facilities,” the RRC said in the statement. “The agency now has staff dedicated to environmental permit compliance – a team that reviews waste management facility reports and inspections and follows-up on those reviews to quickly rectify any issues,” it added. In the statement, RRC Chairman