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…
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…
After the latest tariff twists and chips export restrictions to China, initial earnings in the AI space were widely expected. They didn’t disappoint, with both Taiwan Semi and Siemens Energy releasing strong quarterly figures and either maintaining or exceeding full-year expectations. Taiwan Semi, the leading maker of chips whose growth has been buoyed in recent…
It’s been a turbulent few weeks, with tariff uncertainty fueling broader concerns about the macroeconomic outlook and, specifically, about the AI spending environment. Even if semiconductors were initially expected to be spared from tariffs, the prospect of an economic downturn affecting the core businesses of major hyperscalers—such as declining advertising revenues at Google and Meta,…
At last week’s GTC conference, Nvidia provided a glimpse of its upcoming AI chips, including the Rubin Ultra GPU, set to launch in late 2026. This next-generation AI accelerator is expected to consume up to 1.8kW per unit and 600kW per rack, a significant jump from previous models. For comparison, the current GB200 draws 1.2kW…
Another week, another report about the need to enhance the electric power infrastructure in the U.S. with the Electric Reliability Council of Texas, which manages the local grid, estimating that the state would need the equivalent of 30 additional nuclear plants by 2030 to meet its electricity needs. Meanwhile, PJM, the largest electricity grid operator in…
PJM, the largest electricity grid operator in the U.S., serving 13 states including Pennsylvania, New Jersey, and Maryland, has received federal approval from the Federal Energy Regulatory Commission (FERC) to fast-track the review of up to 50 new power plant projects. This decision follows President Donald Trump’s national energy emergency declaration and addresses growing concerns…