FT News Briefing
Solar energy’s moment in the sun
Sep 18, 2024
BP is shifting focus from onshore wind to solar energy, anticipating a rise in installations as costs drop. BlackRock and Microsoft are teaming up to fund AI infrastructure with a hefty $30 billion investment. Meanwhile, Meta is making a significant change by making teenagers' Instagram accounts private by default. The discussion also highlights the critical role of competition laws in regulating Big Tech, emphasizing the need for fair competition among smaller firms. These dynamic developments are reshaping the energy and tech landscapes.
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Quick takeaways
- BlackRock and Microsoft's $30bn fund exemplifies the urgent need for sustainable energy solutions to support the burgeoning AI infrastructure.
- BP's divestment from wind energy in favor of solar acquisition underscores a pivotal shift towards solar power as a dominant renewable energy source.
Deep dives
BlackRock and Microsoft's AI Investment
BlackRock has teamed up with Microsoft to launch a significant investment fund exceeding $30 billion, aimed at financing the infrastructure necessary for artificial intelligence. This fund is essential because running AI systems demands immense power, leading Microsoft to previously invest $10 billion in a renewable energy fund. The partnership emphasizes the strategic importance of developing data centers and sustainable energy sources that can support the growing AI sector. As companies increasingly rely on AI, this investment reflects the urgency to enhance the energy supply to meet future demands.
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