Latest news with #techgiants
Sustainability Times
a day ago
- Business
- Sustainability Times
'Meta Goes Underground': Tech Giant Joins U.S. Startup to Build 150-Megawatt Geothermal Powerhouse Deep Below Earth
IN A NUTSHELL 🌍 Meta partners with XGS Energy to develop a 150-megawatt geothermal power plant in New Mexico. with XGS Energy to develop a 150-megawatt geothermal power plant in New Mexico. 🔄 XGS Energy employs a closed-loop system to prevent water loss and enhance heat absorption. to prevent water loss and enhance heat absorption. ⚡ Geothermal energy offers a constant, emission-free power source , ideal for tech companies with large energy needs. , ideal for tech companies with large energy needs. 🌐 Tech giants like Meta and Google are embracing geothermal energy as part of their clean energy strategies. Meta, the tech giant known for its innovative strides, has taken a significant step forward in the realm of renewable energy. By partnering with XGS Energy, Meta is venturing into the world of geothermal energy, a move that aligns with the growing need for sustainable and reliable power sources for its extensive data centers. This strategic collaboration aims to develop a 150-megawatt geothermal power plant in New Mexico. Unlike traditional power agreements, this partnership focuses on advancing geothermal technology, showcasing Meta's commitment to pioneering energy solutions. As the demand for energy-intensive applications like artificial intelligence and cloud computing surges, Meta's initiative underscores the critical need for dependable and emission-free electricity. XGS Energy's Closed-Loop Advantage XGS Energy distinguishes itself in the geothermal sector with its innovative closed-loop system. Traditional geothermal setups typically involve an open-loop system where water is injected into the Earth, traverses through natural fissures, and is then extracted. However, this method often results in water loss, as some water seeps into the ground. XGS Energy's approach eliminates this issue by using a closed-loop system. This system circulates water within a sealed well, ensuring no water is lost during the process. 'Japan Reinvents Solar Power': These Ultra-Thin Flexible Panels Could Revolutionize Global Energy Markets in the Next 12 Months Moreover, XGS employs a unique heat-transfer mud that surrounds the well casing, enhancing heat absorption from the surrounding rock. This cutting-edge technology is still being refined, but with $20 million raised in Series A funding, XGS is on track to develop a commercial-scale prototype in California. The collaboration with Meta is a pivotal opportunity for XGS to scale its technology, potentially meeting a significant portion of the electricity demand projected for U.S. data centers by 2030. China's Massive Nuclear Laser Project Exposed by U.S. Satellite—This Shocking Military Development Could Tip the Balance of Power Geothermal Energy Heats Up Across Tech The geothermal energy sector is witnessing a surge in interest, particularly among tech companies seeking to diversify their renewable energy sources. Meta's partnership with XGS Energy is a testament to this trend. Recently, Fervo Energy, another geothermal innovator, secured $206 million to expand its Cape Station power plant, which is poised to become the world's largest geothermal facility. Such developments highlight a growing confidence in geothermal energy as a viable alternative to traditional renewables like solar and wind. 'This Coding Trick Cuts 30% of Power Use': Data Centers Worldwide Could Be Transformed by This Shockingly Simple Energy Hack Google is another major player exploring geothermal energy solutions. The company has agreements with Fervo to supply energy to its Nevada data centers and has also signed deals to acquire geothermal power for its operations in Taiwan. Unlike solar and wind, geothermal energy offers a consistent, round-the-clock power source, making it an attractive option for tech companies with substantial energy needs. The Strategic Importance of Geothermal Energy For tech companies, the shift toward geothermal energy is strategic. As renewable energy needs intensify, tech giants are realizing the limitations of solar and wind, which depend heavily on weather conditions. Geothermal energy, in contrast, provides a stable and uninterrupted power supply directly from beneath the Earth's surface. This reliability is crucial as companies like Meta and Google expand their global data center operations, which require enormous amounts of power to function efficiently. The ongoing development of geothermal technology could revolutionize the energy landscape for tech companies. By investing in and partnering with geothermal startups, these companies are not only securing their energy futures but also contributing to advancing clean energy technologies. As these efforts continue, geothermal energy could play a pivotal role in reducing the carbon footprint of some of the world's largest energy consumers. As Meta and other tech giants continue to explore the untapped potential of geothermal energy, they are setting a precedent for the industry. By investing in innovative energy solutions, these companies are not only addressing their own energy needs but also paving the way for a more sustainable future. What new breakthroughs will we see next in the realm of renewable energy, and how will they shape the future of technology and sustainability? Our author used artificial intelligence to enhance this article. Did you like it? 4.6/5 (25)
Irish Times
a day ago
- Business
- Irish Times
Google suffers blow at EU's top court over record €4.12bn competition fine
Google's hopes of overturning a record EU competition fine were dealt a severe blow on Thursday, after an adviser to Europe's top court agreed with Brussels regulators that the tech giant had used its Android mobile phone operating system to squash rivals. Juliane Kokott, advocate-general of the European Court of Justice, the EU's highest court, said that a €4.12 billion fine issued against the US company should be upheld. While not legally binding, the majority of such opinions are followed by the ECJ. A ruling by the court is expected in the coming months. 'Google held a dominant position in several markets of the Android ecosystem and thus benefited from network effects that enabled it to ensure that users used Google Search,' said Kokott. 'As a result, Google obtained access to data that enabled it to turn to improve its service.' READ MORE The win provides a boost to the European Commission, which is seeking to enforce tough new rules aimed at holding the world's largest tech companies to account. The Android case dates back to 2018, when the EU accused Google of imposing illegal restrictions on Android device makers and mobile network operators 'to cement its dominant position' in internet search. Google said it was 'disappointed' with the opinion. 'Android has created more choice for everyone and supports thousands of successful businesses in Europe and around the world,' it added. The European Commission declined to comment. The initial fine issued by the European Commission was €4.34 billion. When Google challenged that penalty, the General Court in 2022 ruled mostly in favour of Brussels' decision but reduced it slightly to €4.12 billion, a decision the Big Tech group also appealed against. Kokott on Thursday advised the ECJ to dismiss Google's appeal, stating that 'the legal arguments put forward by Google are ineffective'. The fine was part of a trio of cases against Alphabet-owned Google, which has seen regulators fine the company a total of €8 billion over the past decade. The EU's top court has already backed the bloc's decision to fine the tech giant €2.42 billion for favouring its own comparison shopping service ahead of rivals, which can no longer be appealed against. But Google did win its appeal against a €1.5 billion fine from 2019 for blocking competitors in the online advertising market, which the General Court annulled last year. Separately, the EU is wrapping up its investigation into Google's online advertising technology, which it launched in 2023. – Copyright The Financial Times Limited 2025
Daily Mail
2 days ago
- Business
- Daily Mail
BREAKING NEWS Jobs bloodbath becomes a massacre as biggest company in the world announces massive layoffs
Microsoft is planning to cut thousands of jobs as it ramps up investments in artificial intelligence. The cuts, which will hit sales roles in particular, are part of a broader effort to streamline the company's workforce, Bloomberg reported on Wednesday. The layoffs are expected to be announced early next month, following the end of the tech giant's fiscal year, the report said, citing people familiar with the matter. Sales teams will not be exclusively affected by the reductions, and the timing could still change, the people told the outlet. The terminations follow a previous round of Microsoft layoffs in May that hit more than 6,000 people, mostly in product and engineering positions. In April, the largest company in the world said it planned to use third-party firms to handle more sales of software to small and mid-size customers. The company had a global headcount of 228,000 at the end of June 2024. Microsoft has market capitalization of over $3 trillion, but it is looking to rein in costs as it funnels billions into its ambitious bet on artificial intelligence. Microsoft declined to comment to Bloomberg about the potential job cuts. The news comes a day after Amazon's CEO announced brutal workforce cuts as the company also increases its use of AI. Amazon boss Andy Jassy said he plans to reduce the company's corporate workforce over the next few years as the tech will make certain roles redundant. Jassy told employees in a note seen by the Wall Street Journal that AI was a once-in-a-lifetime technological advancement and it has already transformed how Amazon operates. 'As we roll out more Generative AI and agents, it should change the way our work is done,' he wrote in the memo. It is not yet clear how many workers will lose their jobs and when the cuts will come. 'It's hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce,' Jassy explained. Those close to the matter told the outlet that a large chunk of the decrease in headcount would hopefully occur via attrition. This means as employees move on their roles will not be filled. However, this will not cover all of the reductions and layoffs are still expected to occur at some point.
TechCrunch
4 days ago
- Business
- TechCrunch
The cracks in the OpenAI-Microsoft relationship are reportedly widening
In Brief OpenAI and Microsoft may be reaching an inflection point in their relationship, according to a report from the Wall Street Journal. The report, citing anonymous sources, says OpenAI executives have considered publicly accusing Microsoft of anticompetitive behavior throughout their partnership. OpenAI executives also mulled whether to seek a federal regulatory review of their contract with Microsoft. OpenAI is trying to loosen Microsoft's grip on its intellectual property and computing resources, but the startup also needs the tech giant's approval to complete its for-profit conversion. The two companies are in a standoff over OpenAI's $3 billion acquisition of the AI coding startup, Windsurf. OpenAI doesn't want Microsoft to get Windsurf's intellectual property — which could enhance the cloud provider's own AI coding tool, GitHub Copilot — according to the report. While Microsoft was once a major accelerant to OpenAI's growth, the companies' relationship has grown tense. In recent months, OpenAI has reportedly tried to reduce its reliance on Microsoft for cloud services.
Yahoo
6 days ago
- Business
- Yahoo
Better Stock: Amazon or Alibaba?
The tech giants have plenty in common. Yet, they differ in other aspects like business model and prospects. One of them is clearly cheaper, but for good reasons. 10 stocks we like better than Amazon › Amazon (NASDAQ: AMZN) and Alibaba (NYSE: BABA) are giants in the global tech landscape, both with prospects of continuing to extend their dominance into the future. Both companies share similarities, yet they are very different in many ways. But which of the two is a better stock to own in the next few years? Let's explore this further. At first glance, Amazon and Alibaba seem like companies separated by more than just geography. One dominates the U.S. and many parts of the Western world, while the other commands China's domestic market. But look a little closer, and you'll find that the two tech titans have more in common than not. Both companies built their vast empires on e-commerce, but have expanded into new sectors over time. Amazon began by selling books online, but has expanded into other categories and profitable businesses, including cloud computing, advertising, logistics, and media. Alibaba, on the other hand, began its business as a cross-border e-commerce platform, enabling overseas merchants to tap into China's vast supply chain. It was only in the later stage that it launched its flagship Taobao marketplace, followed by Tmall. Its success in e-commerce propelled the giant into new businesses, including fintech, cloud computing, logistics, entertainment, and more. As both companies expanded into new sectors, they have gradually diversified their revenue base, making it more resilient to the changes in the external environment. Moreover, this diversified business model opens new opportunities to allocate capital to high-growth areas. For instance, both companies have been investing heavily in artificial intelligence (AI) and cloud computing to capitalize on the once-in-a-lifetime shift trend. While these companies have very different cultural roots, they do share similarities in values such as customer delight, innovation, and investing in emerging technologies and businesses, as well as long-term thinking. This DNA stems from the significant effect of their founders, Jeff Bezos and Jack Ma. Both left a strong legacy, even though they have stepped down from active management of their businesses. In short, both giants are well-positioned to sustain and grow their businesses, using their solid business models and long-term cultures. While Amazon and Alibaba are leaders in their respective e-commerce markets, their business models diverge significantly. Amazon operates a first-party retail business -- buying and selling inventory -- alongside its third-party marketplace. Alibaba, in contrast, is a pure platform. It connects buyers and sellers without holding inventory. Amazon also owns and operates a massive logistics network, employing hundreds of thousands of people to ensure fast and reliable delivery. Alibaba's logistics arm, Cainiao, uses an asset-light model that coordinates third-party delivery services. This divergence explains the gap in profit margins. Alibaba's marketplace model is capital-light and highly profitable. Amazon's retail operation, although strategically important, compresses margins -- although this is offset by its high-margin segments, such as Amazon Web Services and advertising. Geographically, Amazon has a broad international footprint, with operations across North America, Europe, India, and Latin America. Alibaba is more concentrated in China, though it's expanding abroad through AliExpress, Lazada, and Trendyol. In cloud computing, Amazon Web Services (AWS) is the global leader, holding over 30% of the market. Alibaba Cloud is dominant in China but has only a 4% global share, constrained by limited access to cutting-edge chips and geopolitical challenges. Indeed, this is one of the most significant strategic differences between the companies. Amazon, as a U.S. company, benefits from access to the latest AI chips and global markets. Alibaba faces regulatory overhang and U.S. sanctions that limit its ability to compete globally in emerging technologies, such as generative AI. Now that we've explored both the similarities and differences, it's time to ask: Which stock offers better value? As of this writing, Amazon trades at a price-to-earnings (P/E) ratio of 35, while Alibaba trades at just 14. This valuation gap suggests that Alibaba is significantly cheaper. But valuation alone doesn't tell the whole story. Investors must also weigh growth potential, competitive strength, and risk exposure. Amazon's premium valuation reflects its strong global positioning, leadership in AI and cloud, and a track record of consistent execution. Alibaba, on the other hand, trades at a steep discount -- not because it lacks growth potential, but because of its exposure to China's unpredictable regulatory environment. If you're looking for stability, global reach, and long-term sustainable growth, Amazon looks like a good candidate. But if you're comfortable with additional geopolitical and regulatory risks, Alibaba might be one of the most undervalued tech giants in the market today. Its core commerce business remains highly profitable, and its stock is priced as though growth has stalled -- even though it hasn't. The right stock depends on whether you prefer reliability or asymmetrical upside. Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,871!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $875,479!* Now, it's worth noting Stock Advisor's total average return is 998% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Lawrence Nga has positions in Alibaba Group. The Motley Fool has positions in and recommends Amazon. The Motley Fool recommends Alibaba Group. The Motley Fool has a disclosure policy. 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