Startup companies
fromAxios
2 hours agoAI is turning energy into the hottest business in America
Electricity is becoming a high-value strategic asset as AI-driven demand boosts investment in energy storage and on-site power for data centers.
New data centres are being announced all over North America-and beyond. Some provide power at a smaller scale, but others (sometimes referred to as "hyperscale") provide the necessary power for large-scale cloud service providers, like Amazon Web Services, Microsoft Azure, and Google Cloud Platform. These, in turn, provide the necessary compute for artificial intelligence platforms.
In its S-1 filing, SpaceX said that Anthropic agreed to pay $1.25 billion per month through May 2029 for access to SpaceX's AI training centers at Colossus I and Colossus II. That's $15 billion annually, or nearly double the $18.7 billion in revenue that SpaceX reported in all of 2025.
The Open Compute Project plans to deliver more guidance to local governments on how excess heat from datacenters can benefit their communities. The project develops open-source and energy-efficient hardware for datacenter operators. Meta, Microsoft, and Google are all top-tier Platinum members, and are also all building datacenters as fast as they can, to house AI infrastructure.
The proposal, announced Monday morning and contingent on state and federal regulatory approval, would result in a company that leads in nearly every aspect of the US power and utility industry, including overall electricity generation, natural gas generation, and renewables. The $67 billion deal combines NextEra's size and reach with Dominion's positioning as the local utility for the world's largest concentration of data centers in northern Virginia. But the results are likely bad for consumers and the environment, creating a company with enormous financial and political strength that will be difficult to effectively regulate, according to consumer advocates and analysts.
NextEra Energy is seeking to acquire Dominion Energy in an all-stock deal valued at about $67 billion, creating a massive power company as the energy needs of artificial intelligence drive demand higher in the U.S. It is one of the biggest proposed mergers so far this year and would create the world's biggest regulated electric utility business by market capitalization, the companies said on Monday.
Solar will become the largest source of power in the next decade, surpassing coal, oil and natural gas, according to a new report from BloombergNEF. The tectonic shift will occur alongside a historic rise in the use of energy driven by AI and the electrification of entire industries.
Employees haven't been shy about pushing back against AI in the workplace. In a clear disconnect, bosses are often gung-ho about the tech, while their underlings are more aware that it often spits out confident-sounding work that on closer inspection is filled with subtle errors that need to be manually corrected.
ST Telemedia holds the 74% controlling stake in the India business, with Tata Communications retaining the remaining 26% from the original 2016 joint venture. Bloomberg's framing of the operator as Tata-backed understates the direction of control. The $500m figure is the only one Bloomberg sources to its informants. Indian and Asian outlets summarising the report have circulated a valuation range of $5bn to $5.5bn, with a draft prospectus said to follow in two to three months.
Lake Tahoe's local electricity provider, California-based Liberty Utilities, has been obtaining 75 percent of its power from the Nevada-based company NV Energy. But the latter has said it will stop providing power to the Lake Tahoe region by May of next year, according to extensive reporting by Fortune.