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.

09:44

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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.

BP's Strategic Shift: Embracing Solar Energy

6min

Regulating Big Tech: Ensuring Fair Competition and Innovation

5min

BlackRock and Microsoft are launching a $30bn data centre fund to meet the growing demands of artificial intelligence, and BP puts its onshore US wind business up for sale. Meta is making teenagers’ Instagram accounts private by default and EU competition chief Margrethe Vestager speaks to the FT about her efforts to regulate in Big Tech.

Mentioned in this podcast:

BlackRock and Microsoft plan $30bn fund to invest in AI infrastructure

BP puts $2bn US onshore wind business up for sale

Instagram to make teenagers’ profiles private by default

Vestager warns EU against weakening merger rules

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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