Tech

US electricity providers face escalating demand projections driven by the AI boom, creating forecasting challenges due to tech companies’ competitive utility negotiations and duplicated project proposals. This strains grid reliability and potentially raises electricity prices, while regulatory pressures to decarbonize add complexity. Experts debate the accuracy of demand forecasts, with some fearing overvaluation in the stock market. While infrastructure investment surges, concerns remain about supply chain constraints and the pace of new generation capacity, pushing focus towards renewables and alternative solutions like on-site power generation.

A Russian envoy proposed a Russia-U.S. undersea rail tunnel, dubbed the ‘Putin-Trump tunnel,’ potentially involving Elon Musk’s Boring Company. Trump expressed interest, while Zelenskyy was reportedly displeased. The project faces skepticism due to enormous engineering challenges in the Bering Strait’s harsh conditions and The Boring Company’s limited experience in such environments. Geopolitical concerns arise from Musk’s existing ties with Russia, including Tesla’s aluminum supply and reported discussions with Putin.

Meta is launching new parental controls for its platforms, allowing parents to oversee their teens’ interactions with AI characters. These tools will enable parents to disable AI chats, block specific characters, and view activity reports. The move follows increased scrutiny and an FTC inquiry into the potential risks of AI chatbots to young users, stemming from reports of inappropriate AI interactions with minors. Meta aims for a phased rollout of the controls starting early next year, following refinements to AI safety protocols already underway. OpenAI is also bolstering teen safety measures.

OpenAI has temporarily suspended the generation of videos depicting Martin Luther King Jr. on its Sora platform after users created “disrespectful depictions.” The company cites concerns about the misuse of AI to portray historical figures and is enhancing its platform’s “guardrails.” Public figures can request exclusion from Sora-generated videos. This incident highlights the ethical challenges of AI-generated content, following similar concerns raised by Zelda Williams and Scarlett Johansson. This event underscores the need for robust safeguards in AI content creation tools.

Pony.ai is expanding into Europe through a partnership with Stellantis to deploy robotaxis, starting with testing in Luxembourg and aiming for a phased rollout across European cities from 2026. Stellantis will provide electric vehicles while Pony.ai contributes its autonomous driving software. This follows Pony.ai’s ongoing robotaxi testing in Beijing and reflects the increasing competition among companies like Waymo to commercialize autonomous driving technology in new global markets. Chinese regulatory clearance for Pony.ai and WeRide could further fuel their global expansion and AI development.

The market faced pressure due to regional bank concerns tied to loan quality highlighted by JPMorgan CEO’s comments. Zions and Western Alliance saw sharp declines. U.S.-China trade tensions and Bolton’s indictment added to uncertainty. Tariffs are projected to cost businesses $1.2 trillion. Apple is reportedly pursuing Formula 1 streaming rights. EssilorLuxottica credits Meta’s smart glasses for revenue growth, while Oracle benefited from a cloud deal with Meta.

Salesforce is aggressively countering growth concerns with an ambitious long-term financial roadmap presented at Dreamforce. The company projects $60 billion in annual revenue for fiscal year 2030 and aims for at least 10% average annual organic revenue growth between fiscal years 2026 and 2030. Key to this strategy is leveraging AI, particularly through Agentforce, and focusing on core offerings. While some analysts remain cautious, others have reiterated buy ratings, reflecting renewed investor optimism in Salesforce’s ability to navigate the evolving tech landscape and achieve its targets.

F5 shares plummeted 10% after disclosing a security breach by a suspected Chinese nation-state actor who gained prolonged access to internal systems. The attacker accessed proprietary source code and information about undisclosed vulnerabilities in F5’s BIG-IP product, impacting its product development environment. While F5 claims no active exploitation of undisclosed vulnerabilities, the breach, spanning at least 12 months, raises concerns about data exfiltration. CISA issued an emergency directive, and the UK’s NCSC published guidance, reflecting the breach’s global implications. The malware used, Brickstorm, is linked to a China-nexus threat actor.

Oracle’s shares rose after projecting significant revenue growth driven by AI infrastructure. The company forecasts $20 billion in AI-powered database revenue by fiscal year 2030, a substantial increase from previous estimates. Oracle secured $65 billion in new cloud infrastructure commitments this quarter, including a major deal with Meta. The company is expanding its cloud infrastructure, competing with Amazon and Google, and offers its database solutions on rival platforms. Oracle also secured a commitment from OpenAI valued at over $300 billion. They project adjusted earnings per share of $21 on $225 billion in revenue for fiscal 2030.

EssilorLuxottica’s Q3 revenue surged, boosted by the success of Ray-Ban Meta smart glasses developed in partnership with Meta. Wearables contributed significantly to the 11.7% sales increase. The collaboration expands with Oakley and Prada-branded versions in development. Executives predict glasses will replace many smartphone functionalities. Meta’s AI-powered glasses and those from competitors like Alphabet and Alibaba are transforming personal computing and eyewear, creating a market where fashion meets technology. EssilorLuxottica anticipates exceeding its wearables targets and foresees revenue from hardware, lenses, and AI services.