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FT News Briefing
Solar energy’s moment in the sun
Sep 18, 2024
Margrethe Vestager, the EU competition chief known for her rigorous oversight of Big Tech, dives into pressing issues in the tech industry. She discusses the recent antitrust measures aimed at spurring innovation and maintaining fair competition. The conversation touches on the implications of the Digital Markets Act for smaller businesses and the evolving landscape of renewable energy, particularly BP's shift from wind to solar. Vestager underscores the importance of keeping merger rules strong to sustain market integrity.
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.
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