data center, compute centers, right? elon musk was, i think, what you featured.re. they need so -- they're energy hogs. and so the the hyper-scalers are driving a renewed drive towards nuclear energy because nuke race always d -- nuclear's always been there. it's been relatively safe in the united states, and it's clean. it generates -- so it helps the states meet carbon credit goals. and so suddenly, all the hyper-scalers in the last several months have struck deals with new nuclear companies, often these smrs or smaller nuclear reactors, and it's driving that etf up over 30% this year, and a lot of that move has come over the last month. liz: yeah. a lot of that move just in one month. >> one month. there were some stocks that went up 20% yesterday. liz: what's going on with the market? because right now almost every different area is doing incredibly well. t not just equities. nasdaq, obviously, at a record. gold's at a record. bitcoin is spiking as well. what do you see here that indicates to you that it's smooth sailing ahead versus here comes a correction?

we built our first data center in 1999 in new england.have 20 of them in the northern virginia area. this is a business we have been in. it's just scaling up at a very different level with this demand. >> it is important to note, amazon is a top 10 customer, home depot is a top 10 customer. both are committed to cleaners guys. amazon may be the world leader. they have to rely on people like you to make this happen. >> absolutely. i am very optimistic. you cannot run a real estate is just like you can run a tech business where quarter by quarter product cycles and what you do don't matter. 96% of our lease is basically control the income for the next year. there is very little you can do with that space. our leases are 40% below market rent. no matter what happens to market rent we will capture that growth, plus all of these other things we've been talking about. >> that is why i want to leave it. i liked your stock since 2009 when you were the first of all of the companies i follow, the legendary bottom. thank you so much. you look good,

it used to be a data center where data is stored. but in the future, these computers that we build will be used in a way that's very different than we have. i have a phone in my pocket right now, it's a computer, and a tool o mine, like a cuisinart or lawn mower or anything else. my phone is a tool. when you're not usingt, it's sitting idle. my phone's sitting idle right now. however, ithe world of artificial intelligence, there will be systems, there will be a.i.'s doing things for us all the time. we askt to do something and it does it all the time like we ask one of our employees to do somethin they do it all the time. we'd like it to be human in the loop but as autonomous as possible, as governed as necessary. so these computers are off working on things, designing ships, writingoftware, optimizing things, going through plans, evaluating all the various plans we havend trying to figure out which one is the be to come back and recommend it to us. so the exploration of the design space, the exploration of the timization space is re

we are definitely double digit our data center growth.e are announcing soon, we just closed our quarter. if you look historically we've been growing quarter over quarter double-digit on an annual basis. haslinda: let's get back to jun from tribeca investment partners. we are seeing in a way conflicting views from asml as well as amd and am wondering where you sit on that. are we looking at a potential slow down in the chip sector that is worse than anticipated? jun: i don't think in terms of -- the legacy chip is going slowly but the ai chip is continuing to escalate. i think demand for the ai related chip, which will be the majority of the growth from here on, will be strong in the next 12 to 18 months. the challenge for investors is what do you pay for that kind of peak demand? we know the supply is coming at some time, probably 18 months away. for us the chip market is a harder place to generate return with the likes of nvidia and others. certainly the demand is very strong. haslinda: given what you said, if you don't play the likes of

>> we are in 268 data centers now, right across the world, and that means we can meet the sovereignty data requirements of regulated industries and customers who want to keep their data private. one of the things we have seen in the ai world is through our partnership with nvidia that equinix is very quickly becoming the place where private ai happens. >> and so where do those partnerships go? you have many people trying to -- companies i should say, trying to increase their influence in the data center, the likes of an nvidia. what does your scale and the existence of those relationships do to advantage you here? >> i think it means that we can service the full breadth of our customer requirements. if i look at, you know, the use cases that we have like underarmor, like home depot, these use cases underpin the value proposition that we bring to our customers, enabling the connection and the frictionless experience for their customers. >> all right. ceo of equinix, thanks for joining us on "the exchange." >> thank you so much for having me. i really appreciate it. >>> let's get a quic

a data center is not a data center is a data center.red api, ipi has been doing hyper scale data centers focusing on funds and investing for nearly 10 years now, long before hyper scale data centers cross the mind of many people. it is a trendy topic. my guess is every person that talks this corner will talk about data centers. but you have to be able to earn the trust about long-term private partnership with these important hyper scale developers. that for ipi is truly distinctive. we have an 800-person group and able to do the power management, development, condition. that is what the microsoft's and amazon's and googles are looking for and that mary's with our trip police business where today we are a go to partner of choice for holding a real estate assets of investment grade. sonali: we have to leave it there. we didn't even get to ask you about tampa bay. blue owl capital ceo marc lipschultz. we are going to stock of the hour, taking a trip out to the open seas. shares of norwegian cruise line's are soaring after third quarter sal

we have probably about 5000 data centers in the u.s..udies show we have a high growing demand because of the demand from ai. lots of different parts of our cloud computing structure, when you order uber eats it's going through a data center. nine or 10% growth per year through the end of the decade very high investment needed. we put out the request probably looking at work in the federal government help and what are the biggest challenges and where is it helpful to think about energy and thinking about security and thinking about what it takes to build a data center. we are going to need many more of them and it's already 4% of the energy used for the united states go to data centers and that's going to grow quite a bit. there are big challenges. we are looking for comments through november 4 and you can submit if you're interested in watch this space but i think you'll be a big area of investment and a place where we compare about competitiveness and will need to make sure we invest in data centers. >> thank you so much allen and thank

that's a data center operator, aren't they? >> they're the electrification of the data centers.you look at nvidia and super micro, the money's been made and it's still probably going to go higher, but it's time to look at the ecosystem of a.i. now. vertiv is one and what's going to power the data center. everybody's talking about nuclear. i think with google's investment to the small modular reactors, there are a couple public stocks that you can invest in, that i'm invested in. constellation energy, breaking 52-week highs -- stuart: constellation energy, they're the ones who are bringing three mile island back to life, aren't hay? >> correct, with microsoft's money. stuart: what about vistra? >> another one that's moving up, you're seeing a lot of big technology companies starting to partner with vistra, partnering with constellation energy. so i think that's another stock that i'm a buyer of, and uma share helder. stuart: it's a big story because these data centers require an enormous amount of juice, electricity. can and you've got to have a supply real close by. and you thin

because of data centers in a piece, we think the growth printed like power facility book joe go back cummings exposure to data servers that grow faster than that's with the ability number of utilities that we think will probably grow earnings at seven — 8 percent rate only the five years the tenures as companies like it never seen feet rcs for basically we discussed to the market no ethics risk discounts to staples. jack: so despite a growing economy, power demand do not actually grow thank you so getting more efficient now that's going to change. david: think the efficiency will get better because the variables really are the data centers is about 3 percent of all power consumption today most expert say by the end of the decade it could be ten or 11 percent of the data center window power demand is really going to drive deborah see what michelle a nuclear is coming back to try to help that let's go to a different talk and not very well known and i guess i would call it an industrial techie curious into. david: plus that and it's a special event some of disappointing stocks is aggres

my specific question is "quantum data centers in the u.s. and germany and their ai order book growing should this continue to be a long-term hold after rising 62% and achieving a new high yesterday? >> it yields about 3. say i wanted to buy 100 shares of ibm over the course of the next year. i would buy 25 and then let it come back down because it's had pretty much of a parabolic move. but i would be a buyer of this move. i think arvin krishna's doing a remarkable job. let's go to sharon in minnesota. sharon. >> caller: hey, jim, how are you today? >> i am good, sharon, beautiful day in no, happy to be around. what's happening? >> caller: it's beautiful here too in minnesota. so my question is what do you think about affirm in terms of whether it's a buy here? >> sure, sharon, i've got to tell you this is a great question because a lot of people feel it's related to rates. i think it's related to honest ability to be able to judge people's credit, give them credit and then watch and see how well they do. buy now pay later, max loves it. i ha

data centers. they need cooling. industrial companies will provide cooling services to data centers that trade at attractive valuations. there are other ways of playing genai in the infrastructure boom. utilities, one of the best performing sectors year to date. who would have thunk? there are other ways to think about this but you have to think more broadly, where is genai not priced in in the sphere with the capex build and the monetization will take time? at the moment investors may be getting ahead of what may be delivered next quarter. caroline: what about where it is underpriced globally? the latest news we will go into later about kkr looking to take traded chip companies. nancy: there are interesting things globally. blackstone adjusted $16 billion in australia with the largest asia-pacific datacenter. europe is further behind. international exposure to datacenter in for structure power and build out is interesting. they are much further behind the u.s. prices are more reasonable on a relative basis. there ar

oracle wants to build a data center, energy is weird and confusing. let me put it in a tv news anchor way. one gigawatt of power is about 750,000 average size homes worth of electricity to run one computer center. the country then controls the power and has the power, china is building nuclear reactors. in one fourth the time it takes us to build the one that we built in 30 years. why are they so much better at it. >> they are willing i think to cut corners in terms of safety protocols. >> and we've obviously seen we think about with china's belton road initiative many nation-states saying please stop. in many nation-states are unsatisfied customers because they thought there were to get a lot of jobs. in the quality of the workforce this morning and still there deep in debt. these other nation-states. europe and elsewhere, we are this close to signing up. we need our own regulatory process to move quicker and i think there's been a seachange on nuclear energy. the overwhelming majority of democrats no that has to be part of the mix and i think there

someone's got to manage that data center. i'm looking at names like digital realty, which is an obvious one to anyone who has been following this trend, they're the second largest publicly traded reit right now. but based on their working relationships, among the megacap tech names alone, i could see them moving up a couple of spots and overtaking someone like a simon properties or public storage by the end of the next year. for one, on their last earnings call, they appointed out that only half of their bookings right now come from ai-related activity. that's a lot of opportunity for them. plus, they have these companies beating down their door right now wanting their own data centers instead of having to co-locate, which has traditionally been digital realty's playbook. so that's what's going to drive a stock like a digital realty even higher in 2025. >> you also like a dear old utility. dominion. >> yeah, tyler, i know being from virginia, you know just how much of the world web traffic flows through northern virginia. dom

inking a new deal to power its data centers. the details on that one next. >>> but first , brian niccol is tamping down on discounts, as he looks to turn starbucks around. bradley tusk joins us to lay out his take on crypto's comeback, a.i. regulation, and much more. that's coming up. much more "fast money" in two. >>> this is "fast money" with melissa lee, right here on cnbc. getting older is part of the journey, even with worsening heart failure. so when i had carpal tunnel syndrome, lower back pain, and shortness of breath, i thought that's what getting older felt like. thank goodness... ...i called my cardiologist. i have attr-cm, a rare but serious disease... ...and getting diagnosed early... ...made a difference. if you have any of these warning signs, don't wait, ask your cardiologist about attr-cm today. (♪♪) business. as it's not a nine-to-five about proposition.. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. a

data center center is happening.ingle state is benefiting from it right now. you may not have enough juice in the state you live in. beth kindig told us about this trade i think three or four years ago. if you followed her, you're rich. you're lucky, she's next. ♪ ♪ so tonight i'm gonna party like it's 1999. ♪ i was dreaming when i wrote this -- ♪ so sue me if i go too fast. ♪ after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" bacon and eggs 25/7. you're darn right. solar stocks are up 20% with the additional hour in the day. [ clocks ticking ] i'm ruined. with the extra hour i'm thinking companywide power nap. let's put it to a vote. [ all snoring ] this is going to wreak havoc on overtime approvals. anything can change the world of work. from hr to payroll, adp designs forward-thinking solutions to take on the next anything. teeth sensitivity is so common. it immediately feels like somebody's poking directly on the nerve. i recommend sensodyne.

a giga watt data center is now the core thing of ai you have to build a lot of them. the limiting factor turns out to be energy i think you've talked about this on cnbc. >> so in other words, some people have joked that if you want to be in openai but you can't access it just by nvidia, are you amongst those who see nvidia and these massive dater centers as an ongoing beneficiary of this trend, or are people going to find cheaper substitutes, openai included, to make the business model a little more attractive? >> i still think nvidia's in the driver's seat, but you have an ipo coming up today with a smaller company that's got a different way to do these chips. if you want to talk about it, i would be happy to. there will be innovation competing with nvidia in this marketplace, and we should see the cost of building out these data centers decrease as newer models come through. >> are you in that ipo were you a part of openai's funding lounldz if -- funding round? >> no, but i wish i were it's building a complete wafer instead of a small chip. normally they do a wafer

ai data centers consume a lot of energy and they need a lot.o we are providing services to the companies which are doing ai and its grow market. on the others ai can benefit a political transformation in saving water, energy. in making veolia more efficient. we are doing quite a lot on ai. what was testing are ways to be optimizing downtime in our plot by being more efficient in tracking where the problem is. and actually helps you save an enormous time. with everything with core centers has been very helpful. we already have a lot of digital tools that's happened with the company. but the next generation we are having -- and what i say that we know it will work. the question we ask ourselves is, is it worth it? we are trying to quantify the benefit in euros. again, the costs in euros and the cost in negative impact on water and everything. we probably will have a few words super interesting. francine: does the cost automatically come down and years to come were not necessarily? estelle: the type of solution i'm talking about, the cost of the s

it takes those high-performance cpus from names like nvidia and amd, packages them up for data centers. ey, it's auditor, has resigned, citing worries about the company's integrity, and specifically management in the audit committee. the stock is down more than 30%. that puts it on track for its biggest drop since 2018. this is complex and there is a back story and a series of events that went on with supermicro. let's bring in brody ford to discuss. eli told us about this in a regulatory filing. first off, what did they say? brody: these are some words you never want to hear from your auditor, right? we only got a snippet of the resignation letter, but ey said they received some information that made them feel that they could not continue with this. in addition, they felt there was information they were not getting, right? so, there was something that made them feel that things were not right and they said they were not willing to put their name behind reports that came out from this management committee. obviously investors have to read a bit of tea leaves here, but they are not minc

data centers is happy the water sources.a centers can use as much as 5 million gallons of water a day the same amount used by a town of 50000 people, a.i. is also stringing that power grid, goldman sachs estimated that global data center power consumption will grow by 160% by 2030, a.i.'s thirst for power making many companies turn to an old alternative nuclear, nuclear energy company deep vision is stepping up to solve the energy demand problem, the revolutionizing of the industry by putting their reactors a mile beneath the earth surface, joining us not a fox business exclusive deep vision cofounder and ceo elizabeth mueller, thank you for joining me. in a mile underground, in order to get a underground we build on the expertise that exist already in the oil and gas industry. oil and gas drillers know really well how did drill down a mile or deeper. >> how much fundraising have you received lately as it seems like everyone is desperate for nuclear and energy. >> the nuclear power sector seen a lot of investment right now,

these bitcoin miners are specialized data center operators that have been really good over the last decadereally one thing, and that is securing long-term purchasing agreements for very cheap power. i think the baseline story is also getting a lot of attention and momentum because it is being partially driven by this data center compute an energy story that has really been dominating markets since the meteoric rise of nvidia earlier this year. i think we are starting to see that bifurcation with bitcoin dominance. it is still over, and this is many years into there being multiple cryptocurrencies. i think this leadership that bitcoin demonstrates is also underpinned by the fundamentals of bitcoin's ties to the physical world and this data center economy that is so prevalent right now. tim: i want to go back to the election and the comments you made about bitcoin becoming a central theme to at least the trump campaign. politicians have been known to pander ahead of elections to try to get people to vote for them. what is the risk here that we know one of these can will be elected if they do

with the energy and data center play, you have under the radar play. when you talk to investors, what is a way to play this outside of the obvious investing in utility snox. >> that's a great question. taking one step back as you said in the previous segment, the big issue we are facing is the growing tidal wave of energy. in the back drop, what are the names to help with asset integrity? you have to take existing energy and ensure it is able to be sustained and commissioning new energy with nuclear and you have needs on that end, too. tucked between the under the radar name is the company called acuren. it is on the london stock exchange. we hope by the end of 2024, perhaps, in early 2025. in short, they are an asset and integrity service, it is mandated and extends the life of the asset. if you look at sub comps that are publicly traded, you have team industries and the closest peers to them. with acuren, it has been growing fast and under the radar. it could be a really interesting play on the energy infrastructure. >> it sis a picks and shovels pla

the digitalization of everything is being driven by data centers. and just the connectivity of everything. but remember, everyone in the world has, in some way, committed to "let's have less carbon." and it's just transitioning the economy. it's not good or bad or green or black, it's just, let's just transition the economy to have less carbon. so we are funding that. and the leaders in that today are the technology companies. so a lot of this is being driven by the technology companies to go green. so we are one of the largest builders of solar and wind and, now batteries, to be able to get carbon out of the system. and whereas years ago, we sell power to the grid. today, our power is mostly sold to global corporates. francine: but -- and again, this is, you have to take a bet on what kind of technology? or do you have to take a bet on just the infrastructure that supports it? bruce: we were doing wind 15, 18, 20 years ago. we were doing solar 10 years ago but very small. and only when the cost curves made solar and wind at the point where they wer

they're going to be used to power google's ai's data centers.ring with the f firm. >> jeff flock said trickles a real sense of urgency to find a new way to power the centers and these companies need more energy, more capacity for energy and nuclear could be the solution to that. take a listen. >> there's a sense of y urgency and not just about replacing by finding the scaleable, new technologies that can really increase the capacity for whole set of applications that will be important for decarbonization and we believe nuclear power has to be a big part of that. >> more energy needed, more capacity needed and this is a first of its kind deal that will help feed the tech companies growing need for electricity to power ai. this is part of the u.s. nuclear revival and targeting 500 megawatts of nuclear power starting at end of the decade and arrangement would be the first to underpin the commercial construction in the azoth small modular nuclear reactors. so this tensionnology could be the future and enables faster, less costly construction and the

google is moving into nuclear to power its data centers.s for the nuclear industry. >> very big news. i'm sitting here, what was this, two weeks ago when we were talking about moth doing a deal with constellation energy -- microsoft -- google took note and thinking about doing the same deal. i think it's called cairos power. it's a start-up, and they're talking about building about six small reactors which would supply electricity for data centers to power a.i. so i'm viewing this as, again, google looking at the power needs of a.i. and saying we need to help fund the source of of that electricity. stuart: that's fascinating. a small nuclear reactor dedicated to a giant data center. not for homes in the area, just that data center. and they've got seven of hem? >> i think six. no, you're right, it was seven. stuart: that is a breakthrough for nuclear. taylor, thanks for joining us. always good. >>> here's what we have coming up for you. clip op, the as in bill clinton, suggested murdered georgia nursing student laken riley would still be al

this issue use manifest in the last 24 hours is about data center costs. ch center, $2 billion-$4 billion, 25 teams trying to develop these things but they are searching all across north america to find the power and there isn't any. stuart: microsoft and meda do have the money. >> but they don't have the power. you can't do it. stuart: they got the money to build it. >> the only states that can pull this off our west virginia, alberta up in canada has a lot, texas has some. that is it. that is it. that is it. stuart: they could go to nuclear. >> 20 years ago, that's great. stuart: you could have a small nuclear reactor. >> i hope that happens but that's not happening in 24 months or 10 years. you talk about 3 mile island, you're dreaming if you think that online and next decade. blue when you think this is a permanent problem. >> it is a massive problem and it is going to be talked about a lot more in the weeks ahead. they can't find the power. stuart: got to change the subject. that was good stuff, thanks very much. a judge in philadelphia is holding hear

because in these data centers, because nvidia's chips burn so darn hot and they use an insane amountelectricity, we simply need more fuel fossil-based fuel. oh, and could we just take a moment to understand that there's more to technology than just generative ai and machine learning chevron's mike worth and i strolled anchor, this production unit that will be producing 75,000 barrels a day for years or even decades, more than 400 million barrels of oil beneath my feet. as we wore our hard hats and held on to handrails i saw much tremendous technology for this electrified facility but it doesn't run on what he gets from beneath the sea. it's electric. i saw amazing caterpillar solar turbines a division once run by the incredibly successful jim umpleby before he asenlded to be the head of caterpillar. i saw a ton of equipment from emerson. i haven't looked at thang since it launched a hostile takeover for national interest. maybe it's time i revisit it same goes for a.b.b., a swiss giant that makes electrical equipment. i saw their stuff all over the place. all these companies are abou

data center ssd's, our high capacity modules, low-power ram.is all about applications and experiences. you need more memory to drive that experience. and that's what is drying the tremendous growth. and i think don't be mistaken if one only thinks memory is needed for ai and data center. certainly smartphone and pc's and those new models have started coming out, 2025. increasing momentum as we go through the year. they require more content of memory. we discuss that had in the past. so from data center to the edge, memory is becoming a key enabler of ai experiences. >> so if i wanted to get something for high band width memory for you, i wanted to order and i wanted it quickly, when would it beavailable? >> we have been shipping high band width memory. >> absolutely sold out. we have been shipping it in our fiscalier, 2024 which ended in august. we realized several hundred millions of dollars of revenue with that product and in fiscal year 25, we have multiple products. we have the best product. this is the high band width memory. thislatest ex

and you know, although they are in one of the best areas for data centers and they have been puttingst half and probably 15 by the end of the year, and they do have nuclear, and they do have all the hookups that they need to have, again, this is a story that is still in the future, and in the meantime they're going to grow earnings by 5% to 7%, which is in line with your average utility. so the stock may be a bit ahead of itself. >> the final thought on dominion? >> i think he's right. it is ahead of itself. you get this halo effect of a.i. and nuclear now. so these stocks like just jump like cisco. you're adding billions of market cap with no earnings. >> thanks for watching "power lunch." "closing bell" starts right now. >>> welcome to "closing bell." i'm mike santoli in for scott wapner. this make-or-break hour be

energy to help power its data centers. as fox's jeff paul tells us. amazon's move to nuclear energy follows a similar effort by google. as ai continues to cut into the nation's electrical supply. >> we're thrilled that aws is the latest to byob. as we say, bring your own power. >> big tech is going all in on nuclear power, and on wednesday, amazon became the latest to throw its hat in the ring. the company says it will invest in a new technology called small modular reactors. advanced nuclear reactors that can produce a large amount of electricity with virtually no carbon footprint. >> small modular reactors are a huge piece of how we're going to solve this puzzle of getting to 100% clean electricity by 2035. >> the announcement came two days after google said it would take similar measures to guarantee it has enough juice to power its data centers. both companies, citing the rapid growth of artificial intelligence as the main factor behind the decision to go nuclear. >> it's clear that ai is going to require a lot of power and a lot of data centers,

as nuclear expands ic the opportunity to power data centers and this new company -- technology that willhe expansion of the ai ecosystem. sonali: it is so nice to have you here. that is the northern data group ceo -- cio. a lot going on in her space and at the company as well. as we get closer to the u.s. election, more and more attention is being paid to betting markets, who is going to win the race. there is a concern that some of the results might be skewed. we spoke to a former fbi see chair saying that the prediction markets are often incorrect. >> most of the predictions have been flawed in some way. i think the good news about the united states is that markets adjust. the bad news is that the predictions in play right now could secure market expectations over the next few weeks because i do not think that the election outcome will be available on november 6. it might take a few more weeks to come to where we end up with the regulatory issues. sonali: low and behold we have an update from polly market. a trader spent more than $45 million on bets that donald trump will win the upco

>> sanjay, he has a high bandwidth memory, data center.lking about a 2025 move that makes you really want to get invested in pcs, ai pc. he's also spending a fortune and he's going to open a place in new york. he's got other plants around the country, around the world. but i think his business is booming. it is just booming. and i think that people bought it up 19%, it wasn't enough. this stock deserved to be higher. it's down 54 cents. what is he watching? donald duck? sanjay was the most bullish i've ever heard him and i've known him for many, many years. >> let's go to the opening bell. the cnbc real time exchange. argentina natural gas company, tgs, celebrating its 30th anniversary at the nasdaq. it is mongodb sharing the tenth anniversary after appearing on "squawk" this morning. >> the enterprise software group ever since jfrog and then data dog. >> i've got it. >> mongo is not an animal. mongo is a person. he was in "blazing saddles". >> do you think that's whatit's a reference to, really? >> i'm not sure. >> anyway, enterprise soft

points, starting from the morning rush hour in the following hours, the densest traffic of the data centerorded on the outer side of the mkat, from the north-eastern chord to the volokolamsk highway, also on the outer side of the 87th kilometer of the mkat, which is territorially adjacent to the biberevo district, it was also difficult to drive towards the center along the leningradskoye, yaroslavskoye highway and ryazansky prospekt, dense traffic to ... there can be observed throughout the day, here is some information for capital drivers the data center also reported: during the day, local difficulties may be in the area of ​​repair work on the 76th and ninety-first kilometers of the moscow ring road, as well as in the central part of the city within the garden ring. in the evening, we expect difficulties in the direction of the region on leningradskoye, volokolamskoye highway and entuziastov highway. construction work on the thirty-kilometer mkad, as well as accidents on highways when leaving the city, may complicate traffic. by the way, at 31 km in the area of ​​the exit to belyulevo-z

data center demand is growing, and so is the power for data centers.t will continue and that industry is getting ready for that but more and more efficiency, and over time, also heat reusers, all to, you know, make sure that energy can be also utilized for all participants. >> you are head quartered in westerville, ohio, a popular state for the election is there anything there that could change based on the election outcome >> we are very confident in the future, as we look at the markets. i think that the future is bright for us, regardless of the direction of the elections >> gio, thank you for your time today. >> thank you very much >> hope to see you soon. >>> as we head to break, take a look at shares of starbucks, bouncing back from a sharp drop in extended hours yesterday after they focused preliminary fourth quarter results that showed a 10% drop in traffic to north american stores. also suspending its outlook for fiscal 2025. meantime, mcdonald's is on pace for its worst day since the start of the pandemic after an e. coli was linked to its qu

-enabled data center than it would in a traditional data center.unity not only to grow, but to innovate. and that's what we're doing. what is driving our outperformance is the really strong adoption of our new gen a.i. products. >> and you rolled these out in june, you were here in july talking about some of these things. there is some big money that is being spent on these things. most of it coming from major companies that are doing this along the way. how are you keeping up with demand right now? >> well, we were able to, over the previous years, to build both the technology capability and the capacity. we saw the potential for these products, so we already have the assets in place. and that's what's leading to the really strong incremental performance. since we already have the capacity, and technical capabilities in place, and the cost was already in our financials, when the revenue shows up, we developed very, very strong positive incrementals. that's you see eps growing twice as fast as sales. >> that's a similar story to what we heard with

of gpu data centers or clusters so that is the biggest reason why the burn for those companies.ent in terms of business >> all right kate rooney here with us now at post 9 to discuss. all right. fair point but, still cost as lot of money to do what they're trying to do. >> they will take capital. $9 billion valuation is what i'm told is the new price tag for perplexity $500 million they've raised four times in just the last year an average company, it's typical you're going to raise money maybe a couple billion dollars even, go out, spend it and then come back to the well. the fact they've raised so many times, the people i talk to says indicates more investor demand and could be on the heels of openai raising billions of dollars. investors i'm told may be taking advantage of what is seen of this absolute sugar high when it comes to a.i. companies. it's partially that and then you have some of the copyright issues this is a big expense that you mentioned arvind said to you -- >> we asked him about that >> a.i., the bar is very high. that's a big comparison. yet they need to pay

first in virginia, home to nearly half the data centers in the u.s.ned an agreement with dominion energy to explore the smr near dominion's existing nuclear power station. aws's ceo told me growing power demands make nuclear necessary. >> we're looking forward, and we see the need for gigawatts of power in the coming years, and there's not going to be enough wind and solar projects to be able to meet the needs, and so, nuclear is a great opportunity. also, the technology is really advancing to a place with smrs, where there's going to be a new technology that's going to be safe, it's going to be easy to manufacture, and a much smaller form factor. >> smrs are an advanced kind of reactor with a smaller physical footprint, allowing them to be built closer to the grid. they have faster build times than traditional reactors. amazon also announced an agreement with utility company energy northwest to invest in the development of smrs in washington state. as part of that, amazon's climate pledge fund announced it is the lead anchor in a $500 million financi

, texas already has those data centers in place and on top of that, we have flexibility agility to addre data centers to make our stock exchange more powerful this starts out well funded having experienced leaders in place all the pieces have come together, and with this going, in rapid pace hopefully will get sec clearance next year begin actually, trading, later on next year, listing stocks the year after that. >> you need volume of lots of not just you know, the exchanges you need more volume for there also the major banks as well. right in to commit to volume. are you confident that you will be getting the volume? >> so maria, major banks are the investors part of the investors in the exchange already so the highest volume trading banks in the country are investors in this project so they will be providing the volume to get this thing going in a robust level from the very beginning. maria: how would you assess the economy there in texas given all of the illegal immigration i want to get to the border in a second but have you seen an impact, with all these new people coming in? look

there's nothing i heard here other than data center is -- is having some bounce year. that the days of this not losing money are over. >> yeah, the good news, as you said, coming in here, you know, value trap or something, i mean, they're performance on, like, their financial metrics has been so bad. in 2021, when they were at peak earnings, was $5.47, 57% gross margin this year, they're going to do 24 cents. they're going to do $52 billion in sales, with a 40% gross margin. so, the good news is, i think it can probably only go higher, you get that cash ininfusion, you sl stuff off. maybe they can remake this company for -- they were fabless forever, they can start turning manufacturing on, maybe that's it. the other thing, i think qualcomm probably buys them at some point. >> so, that -- so, guy, we have to go, very quickly, we have to move on. stock's back to 1998 price. the reason i talk about this value trap idea, people are thinking, oh, it's intel, it's got to come back. it's the name recognition factor. knock has to ever come back in the stock market. >> they're

ed: that piece of news about tsmc in europe shows there is data center and chip capacity activity inhe states, the same in europe. are there pros and cons to focus your attention as an investor on just one? michael: i'm not really sure i would emphasize one versus the other. again, this is all data that can be transmitted. a lot what happens in europe will be separate from privacy rules and we will see investment around that. the united states is just head and shoulders above the rest of the world in terms of data center capacity. i forget the exact number but it is about 10x the next largest competitor. at the same time, we are seeing extraordinary gains in the efficiency of these centers, which means the capacity ends up much greater than we thought. same underlying philosophy that we saw with the fiber-optic buildout in the 1990's where we expected to use tons and tons of dark fiber, but we only use a small fraction of it as other forms of technology improved alongside it. in this case we are seeing efficiency gains from rewriting algorithms to optimize them for ai, data center ap

data centers need the energy, 24/7, 355 days, with consistency.uct mix or a peer play, natural gas exposure in the u.s., trying to find a heavy natural gas producer at a reasonable price with a viable risk and reward. and i'm looking at paying, and diamondback. >> diamondback is a little bit too much for me, we bought the old capital oil and gas, and we think that is a better when you have it from the club today and i think it would be better placed to do that one, thank you for the great well wishes. what's go to jonathan from pennsylvania. jonathan? >> and a big booyah to you. >> how are you doing? >> i am good man, when you were here, i will meet you at mccool's, and buy you dinner and a beer, but they give her all of the patients you have given me. >> i went there last year, you had a good call. how can i help? >> the company that i am calling about, it is a little pricey and the return on equity is a little bit below the return average i wonder if it's a problem that the return equity is a little bit below average, do you think that is a prob

, saying data centers relike on cater pell hearts for backup generators.l, but growing opportunity for the industrials, including companies like 3m, and cummins with its strength in engines as well. as a broader structure story remains weak. we've seen -- the manufacture sector is still in contraction. >> seema, thank you. what do you do with the stock, victoria? >> i want to sit it out at this point. number one, this is a luge global company, only about 54% of their risen in sales in the u.s. china is a massive problem for them. they also saw in the middle east, africa and europe also slow. construction is their biggest segment. that's a bad miss for them. if you look at overall i think expectations are a bit too high. you can almost track the stimulus to where it is now and say, that almost tracks exactly when china announced their stimulus. if the stimulus isn't do what we think and china won't pick up the way we initially thought it might be, that could be a big black market for caterpillar. takes profits if you've been them and look for something less

now with the presence of data centers, there will be a local demand for chips, especially ai chips.refore, i think we want to make sure that, hopefully, we assemble chips coming from elsewhere or that data centers don't just import ai chips from elsewhere. we want it to be here. we are working on it. haslinda: higher up the value chain? rafizi: yes. haslinda: when might this happen? rafizi: i think it is possible the next one or two years. we begin to see the first few manufacturers or companies looking at malaysia as a viable place to design and to manufacture everything here, because the demand from malaysia and this region alone is quite significant. haslinda: subsidies are very politicized and a sensitive issue for malaysia. the prime minister has said that it will be rolled back in the middle of 2025. give us a sense of the mechanism. how will that be rolled out? rafizi: what i can share is this -- the whole idea is that we protect, at least 85% of the household, so that they won't have to go through any price increase. for the subsidy, we will have to pay the market price. we