FT News Briefing

Solar energy’s moment in the sun

Sep 18, 2024

09:44

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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.

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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.

Emergence of Solar Energy in U.S. Market

6min

Addressing Antitrust Challenges in Tech Competition

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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