we begin with the dilemma facing big tech as they race to embrace ai. amazon is the latest to announce significant investments in nuclear power to meet its growing energy needs for cloud computing and artificial intelligence. the companyjoins other tech giants in announcing plans to lean into atomic energy. the international energy agency expects global electricity demand to double by 2050 and the challenge is to meet that demand while cutting carbon emissions sharply. our north america business correspondent ritika gupta has the details. amazon has signed three agreements to support the development of small modular reactors, or smrs. these are more compact, cheaper and potentially easier to deploy than traditional nuclear reactors. aws, amazon's subsidiary in cloud computing, has a massive and increasing need for clean energy as it expands its services

into generative ai. it's also a part of the company's path to net zero carbon emissions. amazon is leading a $500 million funding round for x—energy reactor, a company that develops smrs and fuel. it's also working with utilities in washington state and virginia on potential smr projects. the announcement is yet another example of the growing partnerships between tech companies and nuclear energy. google recently signed a deal with kairos power, while microsoft plans to use power from the restarted three mile island facility. according to goldman sachs, data centre power demand is expected to grow 160% by 2030, with 19% of that demand coming from al by 2028. let's cross live now to colleen mchugh, chief investment officer at wealthify — a consumer investment platform. good morning. so, several big

tech companies are doing this, they have announced this. the question is, are these so—called small nuclear reactors the answer to the growing needs of the likes of google, amazon etc? i growing needs of the likes of google, amazon etc?- growing needs of the likes of google, amazon etc? i think so. i mean, google, amazon etc? i think so. i mean. it— google, amazon etc? i think so. i mean. it was— google, amazon etc? i think so. i mean, it was mentioned - google, amazon etc? i think so. i mean, it was mentioned a - i mean, it was mentioned a moment ago that these small modular reactors offer a lot more flexibility in the comfort much lower cost compared to traditional reactors. it was also mentioned thatjust last month, microsoft announced a deal to purchase power from america pass back three mile island, that is, to take some time to reopen, do not believe it is reopening until 2028 whereas the smaller reactors can be brought a little quicker, then trying to build new uk power plants from scratch which as we know takes some time and investment. we are only going to see a lot of these types of deals at the tech industry pushes to adapt to more stable carbon free

energy sources to be their vast energy sources to be their vast energy needs while they try and reduce their greenhouse gas emissions. reduce their greenhouse gas emission— emissions. this is the thing with al, it _ emissions. this is the thing with al, it has _ emissions. this is the thing with al, it has really - with al, it has really increased the amount of energy consumption as a consequence. absolutely. as ai develops further, we are just going to see more and more of this energy demand, the question is, where does it come from? indeed, it is a question many are scratching their head about at the moment. let's look at another story that is kind of swelling around causing share prices to be on the move. tate & lyle is rumoured to have a potential takeover bid from a private equity firm in the us. talk us through what's going on here. . , ., ., here. valve, first of all, i think we _ here. valve, first of all, i think we all— here. valve, first of all, i

think we all may - here. valve, first of all, i think we all may know i here. valve, first of all, i i think we all may know that here. valve, first of all, i - think we all may know that tate & lyle is a sugar company but over the years it has presented away from sugar to more specialised ingredient solution andindeed specialised ingredient solution and indeed it sold the sugar business in 2010. so another hasn't been made to does mark the latest tech buyout by private equity to acquire london listed companies, another example of foreign companies are seeing value in us, in uk companies, whose relations havejust been us, in uk companies, whose relations have just been beaten down for years. you're right, the stock, there has been movement around the stock, it was up around 10% yesterday on the back of this potential bid. 0k, and it's interesting because tate & lyle obviously a very well known in the uk and there is this trend when many are saying in the uk at the moment, some companies are looking cheap right now, talk us through what's going on. for a number _ us through what's going on. for a number of _ us through what's going on. iff?" a number of years, us through what's going on. lit?"

a number of years, particularly on the back of brexit, we just have a situation where uk stocks are undervalued. uk listed companies, they pretty much a trade at a discount, to lower valuation, particularly related to their us peers. this just makes uk companies attractive targets for private equity. looking to acquire quality assets, which tate & lyle bee com at a discount. again, it isjust lyle bee com at a discount. again, it is just the whole sense of, there is a deal to be had here, these companies are cheaper than what is available in the us. cheaper than what is available in the us-_ in the us. colleen, thank you very much — in the us. colleen, thank you very much for— in the us. colleen, thank you very much for now, _ in the us. colleen, thank you very much for now, we - in the us. colleen, thank you very much for now, we will i very much for now, we will speak to you again a little while. let's move on to another company and another story that markets are watching very closely. markets are also watching the chip—making giant taiwan semiconductor, or tsmc. it is expected to report a 40% jump in profits later as it rides a wave of ai spending.

tsmc has already published forecast—busting revenue figures for the third quarter. surging demand for advanced ai—grade chips has helped tsmc become the world's largest contract maker of semiconductors with clients including apple. let's get more now from bob o'donnell — chief analyst at technalysis research. hello to you. we are expecting very good news from tsmc? yes. very good news from tsmc? yes, as ou very good news from tsmc? yes, as you said. _ very good news from tsmc? yes, as you said, they _ very good news from tsmc? yes, as you said, they already - as you said, they already preannounced the revenue so unless there is some surprise in terms of the costs involved, it's pretty clear they are going to have a blockbuster quarter. the big question is a really, what is the forecast like, what are they going to talk about for the next quarter and into 2025? the whole semiconductor market got scared a little by the people who make the actual equipment that tsmc buys because they lowered the

forecast next year. but a lot of people have said, look, a lot of the sml stuff was an unusual situation because the china demand has gone down dramatically, there is also concerns that the us are raising restrictions to prevent some of those asml machines were being sold in china and on top of that, a few of the other companies who purchase equipment like samsung have also had some difficulties. so there was a fear that maybe this would tumble down from asml into tsmc into veitia and louis it in the supply chain but it doesn't seem to be the case. �* , , , . but it doesn't seem to be the case. ~ , , , . ., case. and this is such a fascinating _ case. and this is such a fascinating company . case. and this is such a - fascinating company because it is right in the middle of geopolitics. it's kind of the us�*s hugely chummy and help with tsmc and building factories in the states, it is a huge investment in germany and across the eurozone, where

europe is trying to increase its chip—making in europe so it is not so reliant on elsewhere. and yet it is a taiwanese company and that issue with china, and if there are further restrictions on chips going with china ought to do with china, china is going to massively invest in its own home—grown production. that massively invest in its own home-grown production. that is exactly what _ home-grown production. that is exactly what they _ home-grown production. that is exactly what they are _ home-grown production. that is exactly what they are trying - home-grown production. that is exactly what they are trying to l exactly what they are trying to do. this situation has been going on for more than a decade, it'sjust that going on for more than a decade, it's just that a lot of us didn't really care because they didn't see the role that semiconductors were playing, also the tsmc group at this time, and all this came to head in the pandemic where we saw shortages of certain chips that made cars not be manufactured. and as we moved to this world of ai powered things, all of

thatis of ai powered things, all of that is driving this immense amount of focus around tsmc. not only do we have a geopolitical issue, it is, taiwan is in the ring of fire in terms of earthquakes in general natural disasters, so to have so much of the world's most advanced semiconductors all coming from one place clearly is not ideal. so that's why you do see the us government investing in providing subsidies, germany doing the same thing, a lot more interest in trying to get other semiconductor manufacturers besides tsmc stronger so there is a more balanced perspective, then exactly as you said, we have got china as well, threatening taiwan and of course with these restrictions in place, some of the chips can't be made, there will be a desire to get access to some of this technology, so it's a very, very dynamic and frankly a little concerning situation so i think that's why there is a lot of attention and focus on this now and i think

there will be for some time to come. i there will be for some time to come. ., there will be for some time to come. . , ., there will be for some time to come. . ,, ':: z: , come. i agree with you, 100%. bob o'donnell, _ come. i agree with you, 10096. bob o'donnell, thank - come. i agree with you, 10096. bob o'donnell, thank you. - there's so much that are keeping a close eye on. in the eurozone, all eyes are on the european central bank as it's expected to cut interest rates again later today. markets are expecting a 25 basis—point cut following comments from the ecb's chair, christine lagarde. euro area annual inflation is expected to be around 1.8% in september — the finalfigure is out in a few hours and that is below the ecb's target, and down from 2.2% in august. will that push the central bank to cut the cost of borrowing again? let's cross live now again to colleen mchugh — chief investment officer at wealthify. most people believe it is to give the rates will come down by a quarter of a point. i

agree, i think it would be very surprising if we don't see them cut rates later this morning by 25 basis points coming down to 3.25. the key difference with the particular rate cut versus the particular rate cut versus the two we have already had and the two we have already had and the ecb injune and september is that the cut today would be about fostering growth. for example we've seen a series of poor economic data out of europe, particularly germany. you mentioned the inflation, that's good news for the ecb. he also had the fact that oil prices have fallen over the last few trading sessions. so from the ecb perspective should be a slam dog, later this morning. be a slam dog, later this morning-— be a slam dog, later this mornini. h ., ., , . morning. it's not a difficult one and — morning. it's not a difficult one and yet _ morning. it's not a difficult one and yet it _ morning. it's not a difficult one and yet it is _ morning. it's not a difficult one and yet it is a - morning. it's not a difficult one and yet it is a job - morning. it's not a difficult one and yet it is a job i - morning. it's not a difficult one and yet it is a job i do| one and yet it is a job i do not envy at all christine lagarde and her team because there are so many diverse economies that they have to consider in very different places. but germany, the powerhouse of europe, the industrial powerhouse of

europe, saying it could be in recession for another year, which is a real concern, and they have to really bear that in mind. ~ , they have to really bear that inmind. , , ._ they have to really bear that inmind. , , ., i, in mind. absolutely. germany is the largest _ in mind. absolutely. germany is the largest economy _ in mind. absolutely. germany is the largest economy within - in mind. absolutely. germany is the largest economy within the l the largest economy within the eu block so what happens in germany had does have a knock—on impact on the rest of europe. and yes, the data out of their recently has been really poor. we've heard the sick man of europe being bandied about again, i haven't heard that one for a while. but we will see how the data involves over the next couple of weeks or so. a that is likely, yes. i of weeks or so. a that is likely. yes-— of weeks or so. a that is likely, yes. of weeks or so. a that is likel , es. , ., ., likely, yes. i 'ust want to get our likely, yes. i 'ust want to get your take — likely, yes. i 'ust want to get your take on — likely, yes. ijust want to get your take on the _ likely, yes. ijust want to get your take on the uk - likely, yes. ijust want to get your take on the uk because| likely, yes. i just want to get. your take on the uk because we had our inflation figures yesterday, they fell more than expected. do you think that really enables the bank of england to cut rates next time it meets? , england to cut rates next time it meets?— it meets? yes, absolutely. so the good _ it meets? yes, absolutely. so the good news _ it meets? yes, absolutely. so the good news yesterday - it meets? yes, absolutely. so the good news yesterday was | it meets? yes, absolutely. so i the good news yesterday was the service inflation, that ticked down dramatically, that's put the focus of the bank of england has been. so thisjust

england has b