The largest U.S. electric capacity auction, run by grid operator PJM— which serves roughly 20% of the U.S. population — cleared at $329.17/MW-day last night. That’s a 22% increase over last year’s record and well above market expectations. PJM’s capacity auctions determine how much electric utilities will be paid in exchange for committing to provide…
We’ve long argued that we’re still in the early innings of the AI infrastructure buildout and the announcements at last week’s Pennsylvania Energy and Innovation Summit confirmed just how early we are. President Trump unveiled a massive $92 billion investment package from the private sector focused on AI and energy infrastructure in Pennsylvania, signaling the…
Constellation Energy, the largest operator of nuclear power plants in the U.S., announced yesterday that its Three Mile Island / Crane nuclear facility in Pennsylvania—shut down in 2019 for economic reasons—will restart operations in 2027, nearly a year ahead of schedule. As a reminder, Constellation disclosed in September last year that it would bring the…
It’s been an eventful few weeks for stablecoins—privately issued cryptocurrencies pegged to a stable asset like the U.S. dollar and redeemable for the underlying fiat currency. Circle Internet, the issuer of USDC, the world’s second-largest stablecoin, made a flashy public debut, with shares soaring more than 8x from their IPO price. At the same time,…
Thoma Bravo, a leading private equity firm whose investment focus is software and cybersecurity, announced last week the completion of fundraising for various buyout funds totaling more than $34 billion. Considering that Thoma Bravo has been a major M&A predator of listed cybersecurity midcaps in the last couple of years with five acquisitions in a…
After Amazon and Microsoft last year, Meta has become the third hyperscaler to secure a long-term nuclear power supply agreement to support its AI infrastructure. Starting in June 2027, Meta will purchase the full output of Constellation Energy’s Clinton nuclear plant in Illinois—a facility that had previously been slated for closure—under a 20-year deal. This…
On Friday, President Donald Trump signed a series of executive orders designed to reignite the U.S. nuclear energy sector. These orders instruct the Nuclear Regulatory Commission to streamline the licensing process and cut regulatory red tape for new reactors and power plants—a timely move as U.S. electricity demand is forecast to reach record highs in…
In line with President Trump’s policy, the US House of Representatives yesterday passed a budget bill that basically kills the Inflation Reduction Act (IRA)—a cornerstone of the Biden administration’s clean energy agenda and a key source of subsidies for renewable energy projects over the past few years. While the original draft proposed a gradual phase-out…
Google has just unveiled a series of partnerships with leading eyewear brands—including Warby Parker, Kering Eyewear, Korean fashion label Gentle Monster, and Chinese manufacturer Xreal—to develop AI-powered smart glasses. The move follows the unexpected success of Meta’s Ray-Ban smart glasses, which have sold over 2 million units since their 2023 debut, with EssilorLuxottica, owner of…
While the strong start to Switch 2 preorders has captured much of the spotlight, several other key developments in the video game industry have emerged in recent days—developments that bode well for the revenue and earnings outlook of game publishers. Notably, the industry appears to be moving toward broad price increases for game titles. Both…