Tag: Data

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Big tech companies are increasingly adopting nuclear power to meet the high energy demands of their AI data centres

Data centre powered by nuclear reactors

Why?

Elevated Energy Needs

AI systems, particularly generative AI, necessitate substantial computational power, leading to significant energy use. Conventional energy sources might not meet these growing demands.

Environmental Commitments

Numerous tech firms have pledged to lower their carbon emissions. Nuclear power, a low-emission energy source, supports these environmental commitments.

Dependability

Nuclear energy offers a consistent and uninterrupted power supply, essential for data centres that operate around the clock.

Technological Advancements

Progress in nuclear technologies, such as small modular reactors (SMRs), has enhanced the feasibility and appeal of nuclear power for extensive use.

For example, Google has entered into an agreement with Kairos Power for electricity from small modular reactors to bolster its AI operations. In a similar vein, Microsoft has collaborated with Constellation to refurbish an inactive reactor at the Three Mile Island nuclear facility.

These collaborations mark a notable transition in the energy strategies of the tech sector, as they pursue dependable, eco-friendly, and robust power solutions to support their AI initiatives.

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China’s PPI deflation deepens in September 2024

Economic data China

In September 2024, China witnessed a decline in consumer inflation rates and an intensification of producer price deflation, despite efforts to implement additional stimulus measures aimed at reviving weak demand and stabilizing economic activity

The consumer price index (CPI) rose by 0.4% from the previous year, a slowdown from the 0.6% increase observed in August, as reported by the National Bureau of Statistics (NBS) on Sunday 13th October 2024. This increase was below the 0.6% rise economists had forecasted.

Month-on-month, the CPI remained unchanged, contrasting with the 0.4% increase in August and missing the expected 0.4% rise.

The producer price index (PPI) registered a year-on-year fall of 2.8% in September 2024, a sharper decline than the 1.8% decrease in the previous month and exceeding the 2.5% drop projected by analysts.

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U.S. non-farm payrolls surged by 254,000 in September 2024

U.S. non-farm payroll data

In September 2024, the U.S. economy saw a significant increase in job additions, substantially surpassing expectations and contributing to a robust employment landscape as the unemployment rate declined, according to the U.S. Labor Department’s report issues Friday 4th October 2024.

U.S. Non-farm payroll numbers rose by 254,000 in September 2024, a jump from the revised figure of 159,000 in August and exceeding the forecast of 150,000.

The unemployment rate dropped to 4.1%, a decrease of 0.1 percentage point, while the household employment survey reported a substantial increase of 430,000 jobs.

Average hourly earnings grew by 0.4% for the month and saw a 4% rise compared to the previous year, outpacing the projected estimates.

U.S. Bureau of Labor Statistics

U.S. Bureau of Labor Statistics
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Europe wants to place data centres in space and Microsoft wants to place them under the sea

Space data centre

Data centres are expected to consume over 3% of Europe’s electricity demand by 2030

The surge in artificial intelligence (AI) has significantly increased the demand for data centres, essential for the ‘exploding’ tech sector. This necessity has led Europe to consider spatial alternatives for digital storage, aiming to diminish reliance on energy-intensive ground facilities.

The Advanced Space Cloud for European Net zero emission and Data sovereignty (ASCEND), a 16-month study investigating the viability of deploying data centres in orbit, has reportedly reached a ‘very encouraging‘ conclusion, according to the report.

The ASCEND study, coordinated by Thales Alenia Space for the European Commission and valued at 2 million euros ($2.1 million), asserts the technical, economic, and environmental viability of space-based data centres.

“The idea [is] to take off part of the energy demand for data centres and to send them in space in order to benefit from infinite energy, which is solar energy,” according to a spokesperson for ASCEND.

Data centres are crucial for advancing digitalization; however, they demand substantial electricity and water to operate and cool their servers. The total global electricity consumption from data centres could reach more than 1,000 terrawatt-hours in 2026 – that’s roughly equivalent to the electricity consumption of Japan, as reported by the International Energy Agency.

The ASCEND study is not alone in exploring the potential of orbital data centres. Microsoft, which has already trialed the use of a subsea data centre – positioned 117 feet deep on the seafloor, is collaborating with companies such as Loft Orbital to explore the challenges in executing AI and computing in space.

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China’s latest May 2024 retail sales data came in above expectations

China retail data

In May 2024, China’s retail sales exceeded forecasts, increasing by 3.7% from the previous year and surpassing the anticipated 3% rise.

Conversely, industrial output experienced a 5.6% growth on an annual basis, falling short of the projected 6% increment. Meanwhile, fixed asset investment saw a 4% increase from the previous May, narrowly missing the predicted 4.2% growth.

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Dow up 300 points Friday, 6th October 2023 as stocks reverse sharp losses

Nasdaq

Stocks rallied Friday 6th October 2023 even after the release of stronger-than-expected U.S. jobs data and an increase in Treasury yields.

The U.S. economy added 336,000 jobs in September 2023, the Labour Department said. Economists expected 170,000 jobs. 

Confused?

Stocks posted a surprise turnaround on Friday, 6th October 2023 after initially falling on a hotter-than-expected jobs report. At its session low, the Dow had fallen some 270 points, then surged by more than 400 points at in intraday trading. The Nasdaq and the S&P 500 also lost ground too only but then quickly recovered the losses.

Unclear

Traders were unclear as to the reason for the intraday reversal. Some noted it could be the softer wage number in the jobs report that made investors rethink their earlier bearish stance. Others noted the pullback in yields from the day’s highs.

Rally

The rally may just be because the market had been extremely oversold with the S&P 500 at one point in the week down more than 8% from its high earlier this year.

Yields initially surged after the report, with the 10-year Treasury rate trading near its highest level in 16 years. The benchmark rate later eased from those levels, but was still up around 6 basis points at 4.78%.

Extreme market movements maybe here for a while yet.