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Air Conditioning, Not Data Centers, Driving Global Energy Demand Growth

2 months 2 weeks ago
Air conditioning will contribute more to rising global energy demand than data centers through 2030, according to an International Energy Agency. While attention has focused on computing power consumption, the IEA projects data centers will account for less than 10% of increased energy demand by 2030, significantly less than space cooling requirements. Global cooling degree days, a measure of air conditioning need, were 6% higher in 2024 than 2023 and 20% above the long-term average for the first two decades of the century. China, India and the United States saw particularly sharp increases. Air conditioning represented 7% of global electricity consumption in 2022, with some U.S. regions reporting that cooling can comprise over 70% of residential energy use during peak periods. The number of air conditioning units worldwide could nearly triple from fewer than 2 billion in 2016 to approximately 6 billion by 2050, creating a growing challenge for power grids.

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US Stock Markets See Worst Day Since Covid Pandemic

2 months 2 weeks ago
U.S. stock markets suffered their worst day since the Covid pandemic after Donald Trump announced sweeping new tariffs, triggering a global selloff and wiping out $470 billion in value from tech giants Apple and Nvidia. From a report: The tech-heavy Nasdaq fell 6%, while the S&P 500 and the Dow dropped 4.8% and 3.9%, respectively. [...] Meanwhile, the US dollar hit a six-month low, going down at least 2.2% on Thursday morning compared with other major currencies and oil prices sank on fears of a global slowdown. Though the US stock market has been used to tumultuous mornings over the last few weeks, US stock futures -- an indication of the market's likely direction -- had plummeted after the announcement. Hours later, Japan's Nikkei index slumped to an eight-month low and was followed by falls in stock markets in London and across Europe. Multiple major American business groups have spoken out against the tariffs, including the Business Roundtable, a consortium of leaders of major US companies including JP Morgan, Apple and IBM, which called on the White House to "swiftly reach agreements" and remove the tariffs. "Universal tariffs ranging from 10-50% run the risk of causing major harm to American manufacturers, workers, families and exporters," the Business Roundtable said in a statement. "Damage to the US economy will increase the longer the tariffs are in place and may be exacerbated by retaliatory measures."

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Intel, TSMC Tentatively Agree To Form Chipmaking Joint Venture

2 months 2 weeks ago
Intel and Taiwan Semiconductor Manufacturing Co. have reached a preliminary agreement to form a joint venture operating Intel's chipmaking facilities, with TSMC taking a 20% stake, The Information reports [non-paywalled source]. Intel and other U.S. semiconductor companies would hold the majority of shares in the proposed venture. Instead of capital investment, TSMC has discussed sharing chipmaking methods and training Intel personnel. The talks face internal opposition from some Intel executives concerned about widespread layoffs and the abandonment of Intel's own technology, according to the report. The deal could help TSMC neutralize a struggling competitor while potentially giving Taiwan more leverage with the U.S. administration, which recently imposed tariffs on Taiwanese goods excluding chips.

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