Coal-fired power plant, now retired, to become massive gas-powered campus for AI, data centers

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Siemens to buy Boston's Dotmatics for $5.1 billion
The offices of Siemens AG in Nuremberg, Germany.
Michaela Handrek-Rehle/Bloomberg
Siemens AG has agreed to acquire Boston-based Dotmatics for $5.1 billion as part of a push to provide more artificial intelligence software to life sciences companies. The German company announced the deal for the Insight Partners-backed R&D software maker in a statement Wednesday that confirmed an earlier Bloomberg News report. The transaction is expected to close in the first half of fiscal year 2026, Siemens said. 'Combining our next-generation scientific intelligence platform and industry-leading scientific applications together with Siemens' Digital Twin and AI capabilities, we'll drive a new wave of innovation in life sciences R&D,' Dotmatics chief executive Thomas Swalla said in a separate statement. The transaction comes at a time when Insight is in the process of exiting other portfolio companies to strategic buyers. Last month, Alphabet Inc. agreed to buy Insight-backed cloud-security company Wiz Inc., while CoreWeave Inc. said it was acquiring AI developer platform Weights & Biases and Roper Technologies Inc. said it would acquire CentralReach. Dotmatics was founded in 2005 by Merck & Co. scientists Stephen Gallagher and Alastair Hill. More than 2 million scientists in 125 countries use its software, which helps to digitize lab data, enhance collaboration, and analyze findings, according to the company's website. — BLOOMBERG NEWS
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STOCKS
Newsmax plunges 77 percent after $29 billion surge loses momentum
Newsmax Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York.
Michael Nagle/Bloomberg
Newsmax Inc. shares shed more than three-quarters of their value on Wednesday after a raucous two-day surge fueled in part by retail traders briefly made it larger than Fox Corp. The stock slumped 77 percent, wiping out $23 billion in market value, after a 2,230 percent surge in Newsmax's first two days as a public company. Retail investors were less vocal about the stock in trader chatrooms compared to prior days, with buy orders on Fidelity's platform more muted compared to those for larger companies. Still, the company's stock remains up more than 400 percent from its $10 offer price, giving it a more than $6 billion market capitalization, which means plenty of early buyers are sitting on vast amounts of paper wealth. — BLOOMBERG NEWS
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GAMING
Nintendo's Switch 2 priced at $450 for June 5 launch
A Nintendo Switch display at an electronics retail chain store in Tokyo.
Koji Sasahara/Associated Press
Nintendo has announced a June 5 launch date and $449.99 price tag for its latest gaming console, the Switch 2, which will introduce interactive chat and screenshare functions to connect gamers. In its 60-minute Nintendo Direct presentation on Wednesday, the company revealed a more vibrant display on the Switch 2, a larger screen and several games that will launch with the console. Central to its updated system is a new 'C' button on its Joy-Con controller, which will launch a 'GameChat' feature that requires a subscription to Nintendo's Switch online service. It allows players to 'communicate with friends and family while playing a game,' and lets them share their game screen with others. A built-in microphone will also allow chatting with other gamers. 'When you think about some of the biggest titles on (the Nintendo Switch), it's like Mario Kart, Super Mario Jamboree, even though that's quite a new title, has cracked the top 10 of most played games on the console. So, it does make a lot of sense that the sort of headline feature is geared primarily towards that sort of use,' said Hannah Cowton-Barnes, a London-based video game industry expert for Tech Advisor. — ASSOCIATED PRESS
GOVERNMENT
HHS layoffs mean that data on drug use and mental health could sit unused
The Department of Health and Human Services headquarters in Washington, D.C.
Anna Moneymaker/Getty
Most teenagers don't use drugs. There's data to show that because of a 50-year-old government survey that may now be in jeopardy. The entire 17-member US government team responsible for the National Survey on Drug Use and Health received layoff notices Tuesday, as part of the overhaul of the US Department of Health and Human Services. It's not clear whether there is an alternative plan to analyze the data, which local and state governments use to develop prevention measures and treatment services. The federal government distributes grant money to fight the opioid addiction crisis based on it. Researchers use it to study trends in depression, alcoholism, and tobacco use. An HHS spokesman did not immediately respond to a question about the survey's future. The nationally representative survey is conducted in person by an independent research group with about 70,000 people each year. It provides a more complete picture than trends in overdose deaths, which capture only a small segment of the problem, said Lindsey Vuolo of the Partnership to End Addiction. 'We use its findings on a near daily basis in our research, educational programming and resources, and communication materials,' Vuolo said of the survey. Before the layoffs, the government team was preparing to analyze 2024 data, the first year where trends would be reliable again since the pandemic disrupted data collection, said Jennifer Hoenig, the laid-off director of the Office of Population Surveys. — ASSOCIATED PRESS
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GOVERNMENT
SEC to restructure regional offices to streamline management
The US Securities and Exchange Commission (SEC) headquarters in Washington, D.C.
Kent Nishimura/Bloomberg
The US Securities and Exchange Commission will reorganize 10 regional offices under broader geographic areas and decrease the number of people reporting directly to the agency's enforcement director, acting Chair Mark Uyeda said in a staff-wide email Wednesday. 'The current management structure simply cannot be sustained,' Uyeda wrote in an email reviewed by Bloomberg. The change will be effective April 9. Enforcement staff will report to deputy directors for geographical areas and an enforcement director for the specialized units, according to the email. The new western region will cover Denver, Fort Worth, Los Angeles, and San Francisco, while the southeast region will include Atlanta, Miami, and the SEC's home office in Washington, DC. The northeast geographic region will include the staff of the Boston, Chicago, New York, and Philadelphia offices. The email detailed changes on reporting structures and didn't say if offices would close. SEC regional offices conduct enforcement and examinations work for the agency, among other tasks. Uyeda in his message to the staff said the changes were intended to maintain the importance of the regional offices. 'The reporting lines in the Divisions of Enforcement and Examinations will be realigned to better reflect each Division's national programs and are intended to improve efficiency, management, and oversight of the Divisions,' the SEC said in a statement. Reuters reported earlier the SEC plans to restructure its enforcement division. — BLOOMBERG NEWS
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Miami Herald

an hour ago

• Miami Herald

OpenAI makes shocking move amid fierce competition, Microsoft problems

A blind man once told me, "I wish I knew what a beautiful woman looks like". He started losing his sight from birth and lost it completely while he was still just a child. What do the engineers trying to make artificial intelligence know about intelligence? To me, they look like a bunch of blind men, trying to build a "living" statue of a beautiful person. The worst part is, they don't even know they are blind. Do you remember the scandal when an engineer from Google claimed that the company's AI is sentient? When I saw the headlines, I didn't even open the articles, but my conclusion was that either Google made a terrible mistake in hiring him or it was an elaborate PR stunt. I thought Google was famous for having a high hiring bar, so I was leaning toward a PR stunt-I was wrong. Related: Apple WWDC underwhelms fans in a crucial upgrade What is amazing about that story is that roughly six months later, ChatGPT came out and put Google's AI department into panic mode. They were far behind ChatGPT, which was not even close to being sentient. Engineers from OpenAI, were the ones to start a new era, the era in which investors are presented with a statue that sort of has a human face, and has a speaker inside playing recordings of human speech, expecting that the "blind" men working on it, will soon make it become alive and beautiful. Of course, investors are also ignorant of the fact that engineers are "blind". OpenAI is now faced with many rivals, and the developing situation is starting to look like a bunch of bullies trying to out-bully each other instead of offering a superior product. Meta's recent investment of $15 billion in Scale AI seems to have hit OpenAI quite hard. OpenAI will phase out work with Scale AI, said the company spokesperson for Bloomberg on June 18th. According to the same source, Scale AI accounted for a small fraction of OpenAI's overall data needs. It looks like Meta's latest move angered OpenAI's CEO Sam Altman. In a podcast hosted by his brother, he revealed that Meta Platforms dangled $100 million signing bonuses to lure OpenAI staff, only to fail. "None of our best people have decided to take them up on that," he said, writes Moz Farooque for TheStreet. Related: Popular AI stock inks 5G network deal Unless Altman shows some evidence, this can also be a way to mislead Meta's engineers into believing they aren't compensated fairly. Not that Zuckerberg wouldn't do such a thing, but only the people involved know the truth. As if OpenAI's competition is closing in, buying partner companies and trying to poach its staff by offering ridiculous bonuses aren't enough, the company has even more problems. It is bleeding money, and has issues with a big stakeholder. More AI Stocks: Veteran fund manager raises eyebrows with latest Meta Platforms moveGoogle plans major AI shift after Meta's surprising $14 billion moveAnalysts revamp forecast for Nvidia-backed AI stock OpenAI lost about $5 billion in 2024. There are no estimates on how much the company will lose this year, but according to Bloomberg News, the company does not expect to become cash flow positive until 2029. Latest developments will likely push that date farther into the future. Microsoft has invested about $14 billion in OpenAI; however, the relationship has turned sour since then. OpenAI has considered accusing Microsoft of anticompetitive behavior in their deal, reported the Wall Street Journal on June 16th. On June 19th The Financial Times reported that Microsoft is prepared to abandon its negotiations with OpenAI if the two sides cannot agree on critical issues. Meanwhile, OpenAI has started shockingly discounting enterprise subscriptions to ChatGPT. This had angered salespeople at Microsoft, which sells competing apps at higher prices, reported The Information. Related: Amazon's latest big bet may flop "In my experience, products are only discounted when they are not selling because customers do not perceive value at the higher price. If someone loses copious amounts of money at the higher price, how will the economics work at a lower price?" wrote veteran hedge fund manager Doug Kass in his diary on TheStreet Pro." OpenAI's price cuts could kick off a price war, with a race to the bottom even as OpenAI, Microsoft, Meta, and Google continue plowing tens of billions into developing it. "My suspicion, although those guys might be good (in theory) at technology, they are not good at business. I think they will find much less in the way of elasticity than they hope, because the problem is the quality of the output more than it is the price," said Kass. What will happen to OpenAI's cash flow positive plan after 2029? I doubt it is reachable with the now slashed prices. Will the company even live to see 2029? I think that is a better question. Related: Elon Musk's DOGE made huge mistakes with veterans' programs The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.

Engadget

2 hours ago

• Engadget

How to buy the Nintendo Switch 2: Latest stock updates at Target, Best Buy, Walmart and more

The Nintendo Switch 2 has been available in the US for more than two weeks — but good luck finding one. While millions of people have been able to snag the $450 console since it officially went up for sale on June 5, online inventory dried up fairly quickly at most stores soon after launch and remains difficult to find today. Target and Best Buy restocked shortly after launch, but those didn't last long, and the latter required in-store pickup. You may also be able to grab a bundle at Costco if you're a member there. Otherwise, it's been slim pickings. As of today, we're not seeing any availability — though you may have different luck in your locality when checking inventory, online or in person. To that latter point, people had a bit more luck on launch week by venturing to a physical retail store. We can't guarantee you'll still be able to snag a Switch 2 the old-fashioned way, but it's worth checking if a local Target, Best Buy, Walmart or GameStop — the four official retailers Nintendo lists on its store page — still has consoles in stock. For now, you can skip Amazon, though: For whatever reason, the biggest online retailer doesn't even have a product page for the Switch 2 (but it does seem to be selling games and accessories). All that said, if you're still on the hunt, we've rounded up all of the latest information we could find on how to buy the Nintendo Switch 2 and where you can pick one up. Walmart began online purchases at midnight ET on June 5. Currently, both the Mario Kart World bundle and the standalone console are "available" via third-party retailers, but listed for much higher than their standard $500 and $450 price tags — with limited quantities available. We wouldn't recommend buying these; instead, wait for the console to be listed at its regular MSRP. Naturally, the world's largest retailer is also selling the console at its brick-and-mortar locations, though the company has noted that quantities are limited and inventory will vary by location. Best Buy started selling the Switch 2 at its retail locations on June 5. It previously said it wouldn't sell the handheld at its online store during launch week, but it made additional consoles available on June 11 around 12PM ET. That restock lasted for the better part of an hour and required in-store pickup, but the device is now sold out again. Target had the Switch 2 in stores on June 5 and restocked its online inventory for at least a couple of hours starting around 3:30AM ET on June 6. It then had another restock on June 12 around 2:30PM ET, but that appears to have died out in less than an hour. It still looks to be fully sold out as we write this, but you should see if there's any stock at the stores closest to you just to be safe. GameStop has advertised in-store availability, though exactly how much stock your local store may have will vary by location. Online, the device has been unavailable for the past week, with the listings for the base console and Mario Kart bundle now pointing to a "Find a Store" page. We saw a $625 bundle that includes Mario Kart World , a microSD Express card and a few other accessories pop up a bit more frequently than the standard SKUs, but it's no longer listed (and it was kind of a raw deal anyway). You may still have some luck at certain membership-based retailers. A Mario Kart World bundle at Costco that includes a 12-month Switch Online subscription has gone in and out of stock since launch day. Sam's Club has had a bundle without the Switch Online sub as well, though it's out of stock now. We also saw the console at BJ's early on June 5, but it's no longer live there. Verizon briefly had the Switch 2 available on launch day, but that's dried up, and only those with Verizon service were able to order. Amazon hasn't had any form of Switch 2 listing on its website, nor has it listed Mario Kart World . The company didn't take pre-orders for the Switch 2 either, so it's unclear if and when it will sell the device. You can, however, find some Switch 2 games. Newegg has listed the Switch 2 on its site for several weeks, but it's given no indication as to when it'll begin sales. It previous showed a couple listings from a third-party seller, but at massively inflated prices. With all of these stores, we've seen the Mario Kart World bundle available in greater quantities online than the base console, which costs $50 less. But given that Mario Kart is the Switch 2's biggest launch game and retails for $80 on its own, that may not be the worst thing. Nintendo, meanwhile, is only offering the Switch 2 via an invite system. This requires you to have been a Switch Online member for at least 12 months and logged at least 50 hours of Switch 1 playtime as of April 2. It can't hurt to sign up if you meet the criteria, but don't expect it to bear fruit immediately — it's taken weeks for many people who registered in April to receive their invite. You can find a list of every Switch 2 retail listing we could find below. Just be aware that this is meant to be a reference, not a rundown of everywhere the device is available right this second. Where to buy Switch 2 + Mario Kart World bundle: Where to buy Switch 2: Nintendo is selling a number of Switch 2 accessories alongside the console, from its (pricey) Pro Controller to cases to cameras for the new GameChat feature. Most of these became available on June 5. The same goes for games like Mario Kart World and the Switch 2 version of The Legend of Zelda: Tears of the Kingdom . Another big Switch 2 release, Donkey Kong Bananza , won't be available until mid-July but is still up for pre-order now. As of this publication, just about all Switch 2 games are broadly available. Stock for the accessories remains a little spottier, but most devices are still available at multiple retailers. Nintendo's official Switch 2 carrying cases have been the main exceptions, so you may need to look to third-party alternatives if you want some protection for your console right away. Mario Kart World ($80) Nintendo Walmart GameStop Best Buy Target Donkey Kong Bananza ($70) Nintendo Amazon Walmart GameStop Best Buy Target Costco (membership required) Additional Switch 2 games Nintendo Amazon Walmart GameStop Best Buy Target Samsung microSD Express Card (256GB) for Nintendo Switch 2 ($60) Nintendo Walmart GameStop Best Buy Target Amazon Joy-Con 2 bundle ($95) Nintendo Walmart GameStop Best Buy Target Switch 2 Pro Controller ($85) Switch 2 Camera ($55) Nintendo Walmart GameStop Best Buy Target Hori Nintendo Switch 2 Piranha Plant Camera ($60) Joy-Con 2 Charging Grip ($40) Nintendo Walmart GameStop Best Buy Target Joy-Con 2 Wheels (set of 2) ($25) Nintendo Walmart GameStop Best Buy Target Switch 2 All-in-One Carrying Case ($85) Nintendo Walmart GameStop Best Buy Target Switch 2 Carrying Case and Screen Protector ($40) Nintendo (invite required) Walmart GameStop Best Buy Target Nintendo Switch 2 Dock Set ($120) Nintendo GameCube Controller for Switch 2 ($65) Nintendo (Switch Online required)

Yahoo

3 hours ago

• Yahoo

Last day to save on your TechCrunch All Stage pass — prices go up tonight

It's now or never — this is your final day to lock in savings for TechCrunch All Stage, happening July 15 in Boston. Prices increase tonight, June 22, at 11:59 p.m. PT. If you've been thinking about attending, now's the time to commit. Register here. TC All Stage brings together founders, investors, and operators from across the startup landscape for one high-intensity day of strategy, storytelling, and startup momentum. Whether you're building something new or backing what's next, this is the room to be in. At TC All Stage, sessions are designed for action, not applause. You'll get a firsthand look at what it takes to fundraise, scale, and lead in today's market. Expect candid takes, real feedback, and tactical insight you can put to work immediately. Some of the voices shaping the day include: And beyond the sessions? You'll connect at roundtables, pitch competitions, and Side Events hosted across Boston — the kind of after-hours meetups where ideas and deals take root. This is your last chance to save. Join us at TC All Stage and spend a day surrounded by people pushing tech forward. Secure your pass before midnight and save up to $210. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data