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Artificial Intelligence: 1. Anthropic is reportedly expected to launch its IPO process within weeks. 2. Anthropic plans to introduce super voting rights to protect the founding teams control. 3. Anthropics pre-IPO credit line may exceed its target of $10 billion. 4. OpenAIs Q2 revenue reportedly increased by 18% quarter-over-quarter, but losses widened. 5. OpenAI: The company has temporarily slowed down the training of some cutting-edge models for two weeks to enhance security and monitoring. Other: 1. The worlds most precise 100-meter-class radio telescope has completed the installation of its core structure. 2. Alibaba Clouds third data center in South Korea went online. 3. Baidus Q2 financial report: Total revenue of 31.3 billion yuan, with AI business accounting for more than half of total revenue for the third consecutive year. 4. TrendForce: The combined revenue of the top five global NAND Flash brands in Q2 increased by 77% quarter-over-quarter, reaching $68.87 billion. 5. Taiwanese power semiconductor manufacturers are preparing for a third wave of price increases. Japans core machinery orders rose 9.7% month-on-month in June, below the expected 7.80% and the previous months -12.40%.Japans core machinery orders rose 16.9% year-on-year in June, below the expected 10.8% and the previous reading of -1.90%.August 19th - Today (August 19th), the Zhuque-3 Y2 carrier rocket was launched from the Dongfeng Commercial Aerospace Innovation Test Zone. The first stage of the rocket successfully landed at the Zhuque-3 landing site in Minqin County, Gansu Province, according to the predetermined procedure. This is another major breakthrough for my country in key technologies for reusable rockets, and the Zhuque-3 has become my countrys first carrier rocket to successfully enter orbit and be recovered on land.August 19th - Despite a sharp rise in oil costs, the proportion of Japanese companies exceeding earnings expectations reached a five-year high, leading to widespread optimism that strong profit growth across industries will drive a market rebound, extending beyond artificial intelligence-related trades. Data shows that in the three months ending in June, approximately 71% of Japanese companies exceeded analysts forecasts, with the combined net profit of the 500 largest companies reaching 21 trillion yen (approximately $132 billion), surpassing the record of approximately 18 trillion yen set a year ago. Corporate profitability has also improved significantly, with the profit margin of TOPIX constituent stocks expected to reach 9.3%, the highest level for similar data in over three decades. These results suggest that the Japanese stock market rally may be entering a new phase. While last quarters growth was primarily concentrated in technology and AI-related companies, the latest earnings season shows that profit growth is expanding into a broader range of sectors as companies successfully pass on higher costs to customers. "Not only exporters and semiconductor-related companies are outperforming expectations," said a strategist at Resona Holdings, "we are seeing domestic demand-driven companies outperforming expectations. Investor interest has broadened compared to before, and I think this trend will continue."

California Asserts That It Requires More Energy to Keep The Lights on

Haiden Holmes

May 07, 2022 09:35

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Energy authorities in California presented a gloomy outlook for the state's electrical infrastructure on Friday, stating that it lacks the ability to keep the lights on this summer and beyond if heatwaves, wildfires, and other extreme events take their toll.


In response to a series of obstacles posed by the ambitious transition away from fossil fuels, including rolling blackouts during a 2020 summer heat wave, executives of three state agencies and the office of Governor Gavin Newsom have provided an update.


California's climate change regulations are among the most stringent in the world, including a 2045 aim of producing all of its electricity from carbon-free sources.


During an online conference with media, state officials predicted a potential shortfall of 1,700 megawatts this year, with the number reaching as high as 5,000 MW if the grid is overburdened by numerous difficulties that lower available electricity while driving up demand.


Power outages along these lines might affect between one million and four million people. Officials stressed that outages will only occur under extreme conditions and will depend in part on the performance of conservation measures.


According to the California Energy Commission, Public Utilities Commission, California Independent System Operator, and Newsom's administration, the state will still have a capacity gap of approximately 1,800 MW in 2025. In addition, they anticipated yearly electricity tariff hikes between 4 and 9 percent between now and 2025.


The planning of electricity in California has been complicated by destructive wildfires, extreme heat events, and drought, which have affected hydropower supply. According to officials, conventional electricity demand forecasting does not account for such significant climate-related events.


Moreover, numerous solar farms and energy storage projects that the state has commissioned in the past two years have been delayed due to supply chain difficulties during the pandemic and a recent federal trade investigation into solar imports.


During the briefing, Newsom's assistant Karen Douglas stated, "We are now in a position where we must consider a new environment in terms of the challenge we face in putting online the projects we need."


The declaration, which came a week after Newsom said the state was open to keeping its remaining nuclear power plant operational to preserve reliability, appeared to lay the framework for an effort to keep older plants — some of which are natural gas-powered — operational.


Mark Rothleder, chief operating officer of the California ISO grid operator, stated, "Before we let some of these retirements go, we must ensure that sufficient new resources are in place and operational." Otherwise, we expose ourselves to the possibility of having insufficient capability.