Power is now becoming just as important to AI companies as chips and servers...

Not rendering correctly? View this e-mail as a web page here. AI Is Running Into a Power Problem By Joel Litman, chief investment officer, Altimetry Data centers need far more electricity... The AI build-out is creating a new problem for the power grid. Research provider BloombergNEF now expects U.S. data-center demand to reach 194 gigawatts by 2035. That's 83% higher than the forecast it made seven months earlier. At that level, data centers would consume about 20% of all U.S. electricity. (For reference, they use just around 6% today.) The size of individual projects is also rising fast... ChatGPT creator OpenAI plans to spend more than $30 billion on a data-center complex in the state of Georgia. The new site will need about 3.2 gigawatts of power. That's a huge amount of electricity – roughly what it takes three traditional nuclear reactors to produce. For the past few years, AI companies have spent heavily on chips and servers. Power is now becoming just as important. Today, we'll explain why access to electricity is limiting AI growth and why companies that can bring power on line faster have a major advantage. The U.S. power system wasn't built to handle this kind of demand... PJM Interconnection gives us a good example. This regional transmission organization manages the electric grid across 13 states and Washington, D.C., serving about 67 million people total. Now, it's struggling to add enough new power to meet future needs. See, every year, PJM holds a capacity auction where power companies bid to provide electricity. Basically, these companies promise to have their power available for PJM when it's needed in the future. But in the latest auction, there weren't enough bids to fully guarantee that PJM will have enough power to keep the grid running reliably. That matters because the amount of money going into AI continues to rise... Recommended Links: What You Missed Last Week Last week, Joel Litman (who called Advanced Micro Devices before it rose 21,000%) announced what could be the biggest call of his career: a short list of stocks that could soar 1,000% or more as Elon Musk launches a quiet new venture in a Texas county where there are 3 times more cows than people. Click here to see the full replay... and learn how you could profit from what Elon is building next. Early Retiree Posts Final Message to Fellow Readers For eight years, I've torn open my personal life and my finances. I've shot videos inside my home, all to tell ONE critically important story: a powerful secret about income... freedom... and early retirement. Now, I know I've done all I can – and it's time to say "goodbye." But I'm not going out quietly... or without securing one final prize for fellow readers. See this and grab your "share" while you still can. Last year, five of the biggest tech companies – Alphabet (GOOGL), Meta Platforms (META), Microsoft (MSFT), Amazon (AMZN), and Oracle (ORCL) – spent $397 billion on AI. This year, that figure is projected to nearly double to $781 billion. And it could even surpass $1 trillion in 2027. Take a look... A large part of this money is going toward data centers, chips, servers, and networking equipment. But none of that equipment is useful without electricity. This is why data-center developers are looking for ways to get power more quickly... Some are building their own power plants directly on site. Others are signing agreements with nuclear-power operators or using natural gas power. The goal is to reduce the time it takes between finishing a data center and having enough power to run it. Traditional grid connections can take years... That delay is becoming expensive as projects get larger. Elon Musk is trying to cut down on that delay... The SpaceX (SPCX) CEO is building a factory in Texas to manufacture parts for gas turbines. These turbines can be used to generate electricity for data centers, giving them another source of power. Right now, turbine blades and vanes are in short supply and can hold up deliveries. But Musk says producing the parts internally can reduce the amount of time it takes to get a turbine up and running by about 18 months. His companies are already using this approach for AI facilities... xAI has used on-site gas turbines near its Colossus data centers. It's also moving toward a permanent 1.2-gigawatt natural gas power plant. That gives xAI more control over when new computing capacity can start operating. Investors have spent years following the companies that supply AI with chips and computing equipment... Now, power is becoming a larger part of the same story. As we mentioned earlier, data-center demand is expected to hit a whopping 194 gigawatts by 2035. Meeting that demand will require a lot more electricity and huge upgrades to the power grid. Musk's decision to manufacture turbine parts and build a power plant close to AI operations shows just how dire the situation has become. Companies that can shorten the amount of time between building data centers and getting them on line will have a competitive edge. These are the sorts of businesses you should be looking to invest in as the AI boom continues. Regards, Joel Litman September 1, 2026 P.S. Gas turbines are just the first step in Elon Musk's much larger plan to fix AI bottlenecks. In fact, I believe his next venture could be seven times bigger than SpaceX and Tesla – combined. I covered all the details in a recent free presentation. To learn how getting in on the right stocks early as Musk makes his next moves could give you some of the biggest gains of your life, click here. Tell us what you think of this content We value our subscribers' feedback. To help us improve your experience, we'd like to ask you a couple brief questions. Click here to rate this e-mail A publication from You have received this e-mail as part of your subscription to Altimetry Daily Authority. If you no longer want to receive e-mails from Altimetry Daily Authority, click here. Published by Altimetry. You’re receiving this e-mail at reunisoft.cryptonews@blogger.com. For questions about your account or to speak with customer service, call (800) 701-9346 (U.S.), 9 a.m. – 5 p.m. Eastern time or e-mail info@altimetry.com. Please note: The law prohibits us from giving personalized financial advice. © 2026 Altimetry. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from Altimetry. 110 Cambridge Street, Cambridge, MA 02141. altimetry.com. Any brokers mentioned constitute a partial list of available brokers and is for your information only. Altimetry does not recommend or endorse any brokers, dealers, or investment advisors. Altimetry forbids its writers from having a financial interest in any security they recommend to our subscribers. All employees of Altimetry (and affiliated companies) must wait 24 hours after an investment recommendation is published online – or 72 hours after a direct mail publication is sent – before acting on that recommendation. This work is based on SEC filings, current events, interviews, corporate press releases, and what we’ve learned as financial journalists. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility.

Why fashion’s green push is failing

Emissions in the apparel sector posted two annual increases as the sector struggles to decarbonize  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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Global fashion brands have made splashy pledges to curb their climate footprint as consumers demand greener options. Today’s edition shows how those efforts are struggling, with the sector’s emissions rising. The latest edition of the Zero podcast looks at the climate impacts putting mountain communities at greater risk of disasters like Nepal’s deadly flood. And in China, solar officially surpassed coal as the top source of power capacity. Subscribe to Bloomberg.com for unlimited access to all our coverage. Fading effort to curb emissions By Olivia Raimonde The fashion industry’s greenhouse gas emissions climbed in 2023 and 2024 due in part to increased global production of fiber, especially polyester, according to a new report by the Apparel Impact Institute. Employees working in a clothing sewing workshop in Guangzhou, China. Photographer: Pedro Pardo/AFP/Getty Images Apparel-sector emissions rose 6.3% in 2024, following an increase of 7.5% the previous year; the year prior to that, emissions declined slightly. 2024 is the most recent year for which the institute has data. Fashion emissions that year were roughly 1 gigaton — about the same as the entire climate footprint of Japan. Read More: Top Fashion Brands Have a Supply Chain Battle Against Extreme Heat “The trend is one that’s quite concerning,” said Kurt Kipka, chief impact officer at the institute, a nonprofit that aims to improve sustainability within fashion. “It is a clear sign of increased usage of materials.” He highlighted cost as a significant hurdle for the industry in its efforts to decarbonize. Virgin polyester continues to be cheaper and more available than recycled material, he said.  Now, as volatility caused by the Iran war is driving up energy prices, Kipka said it shows the need for clothing producers to look to alternatives to oil and gas. The sector faces a 34% drop in profits by 2030, the institute found in separate research, with supply-chain disruptions and higher operating expenses unless companies act quickly to rein in their carbon pollution.  Read more Delayed target 2050 The new deadline for fashion brand Burberry Group Plc to hit net zero emissions, a decade later than an original goal. Cleaner power “That’s where renewable energy sources and onsite battery storage become a more attractive proposition.” Kurt Kipka Chief impact officer, Apparel Impact Institute Kipka discusses methods for fashion producers to cut energy costs along with emissions. Your Zero listen Zero Climate Change is Making Mountains Less Stable On the morning of August 26, a glacial collapse in the Himalayas triggered a flash flood that sent ice, mud, rocks and fast-moving water through a valley in Nepal, wiping out entire communities. This week on Zero, Akshat Rathi is joined by Lou Del Bello, who has been reporting on the disaster for Bloomberg News from New Delhi. They discuss what can be done to keep mountain communities safe, and why events like this are likely to become more frequent in a warming world. Listen now, and subscribe on Apple, Spotify or YouTube to get new episodes of Zero every Thursday. Solar tops coal in China By Felix Tam Solar panels are now China’s top source of power capacity, surpassing coal in a key milestone for the country’s green-energy boom. Solar capacity reached 1,286 gigawatts at the end of July, accounting for 31.5% of total installed power generation, China Central Television reported, citing the National Energy Administration. The China Electricity Council had earlier flagged that solar was just 1 gigawatt behind coal at the end of June. China remains the dominant player in the global solar supply chain, with investment in the sector expected to top 2 trillion yuan ($298 billion) over the next five years, the report added. Solar generation rose 15.5% from a year earlier to 802.4 billion kilowatt-hours in the first seven months of 2026, about one-eighth of the country’s total. Read more 🎥 Attention all filmmakers! Working on a short documentary about climate change? Don’t miss your chance to submit it to the Bloomberg Green Docs film competition. Grand prize: $25,000. Submissions will be accepted through October 2, 2026. See official rules at bloomberg.com/greendocs. More from Green Indonesian Fires Prompt Haze Alerts and Disrupt Palm Harvests Acrid haze from Indonesian forest fires blanketed parts of Southeast Asia, with millions of residents warned to stay indoors and harvests disrupted across the region’s many palm plantations. Read more Nepal-China Flood Deaths Top 1,000 as Rescuers Seek Survivors The number of people killed in catastrophic floods in Nepal and China has risen above 1,000, as rescue efforts entered a seventh day on Tuesday. Grand Canyon Under Storm Threat After Deadly Weekend Floods Another round of heavy rain is threatening to complicate search-and-rescue efforts in the Grand Canyon, where two people died and more than a dozen are missing after catastrophic floods swept through popular hiking areas Saturday. US Battery Installs to Hit Record in 2026, Industry Report Says The US added a record amount of energy storage in the second quarter and is on pace to reach an all-time high this year, according to an industry trade report. Thailand Shifts Disaster Risk to Insurers With $467 Million Plan Thailand plans to provide government-funded disaster insurance to about 30 million households in high-risk areas, while seeking to shift some of the growing cost of floods and other catastrophes to private insurers. More from Bloomberg Business of Food for a weekly look at how the world feeds itself in a changing economy and climate, from farming to supply chains to consumer trends Energy Daily for a daily guide to the energy and commodities markets that power the global economy Tech In Depth for analysis and scoops about the business of technology Explore all Bloomberg newsletters. We’re improving your newsletter experience and we’d love your feedback. 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A global bond selloff

Bloomberg Morning Briefing Americas  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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Good morning. Inflation fears are sending bond prices tumbling. The US military loses another senior leader, after clashes with Pete Hegseth. And why ex-Congressman George Santos won’t be placing any more bets on Kalshi. Listen to the day’s top stories. — Marcus Wright and Harry Black Market Snapshot S&P 500 Futures 7,657.00 -0.5% Nasdaq 100 Futures 29,218.50 -1.0% US 10-year Treasury yield 4.78% +0.03 Bloomberg Dollar Spot Index 1,198.01 +0.2% Market data as of 07:01 AM ET. Data is subject to provider delays. Your watchlist Bond prices slumped around the world, with inflation fears driving yields on a Bloomberg global gauge to the highest since mid-2008. Traders boosted the odds of a September US rate hike to about 70%, extending a repricing that began last week when Federal Reserve Chairman Kevin Warsh doubled down on a pledge to tame inflation. Japan’s 10-year government bond yield touched 3% for the first time this century. Army Secretary Dan Driscoll is stepping down after repeated clashes with his boss Pete Hegseth, leaving the service without several top leaders even as the conflict with Iran continues. Oil rose as the recent outbreak of renewed hostilities raised concerns about energy flows through the Strait of Hormuz. Donald Trump dismissed worries that the conflict is draining American firepower, telling reporters: “This is a relatively little war for us.” Apple Accuses OpenAI of Destroying Evidence in Exchange of Barbs Read more Anthropic signed a $35 billion computing deal with Lambda, a cloud provider backed by Nvidia, as part of an effort to quickly expand its artificial intelligence capacity, a person familiar said. Meanwhile, Nvidia’s investment in MediaTek has thrust the Taiwanese chip designer into the center of the global AI infrastructure boom. And while electricity-guzzling AI data centers may be unpopular with US voters, in Brazil they’re central to politicians’ pitches to bolster the economy. Nine drugmakers struck pricing agreements with the Trump administration under which they’ll provide discounts on outpatient drugs to state Medicaid programs that align with overseas prices. Cuba’s top diplomat in Washington said that US talks were at a standstill as the island faces continued economic isolation and a “war without bombs.” Last month, Washington placed additional sanctions on Cuba as it pursues a strategy of economic pressure rather than military force. YOU’RE INVITED: What is it like to speak with some of the most influential names in business, tech and culture? Don’t miss this opportunity to ask Bloomberg’s Emily Chang, host of The Circuit, in a Live Q&A conversation with Businessweek editor Brad Stone today at 1 p.m. EDT. Click here to join the livestream and send your questions to us in advance to liveqa@bloomberg.net. Explore recent episodes here. Claim over 50% off before summer ends As Q4 approaches, the rest of your year comes into focus. Prepare for whatever comes next with a Bloomberg.com subscription. Get your first year for just $399 $170. Offer expires September 11, 2026 11:59 PM EST. Unlock more than 50% off Deep Dive: The US and Venezuelan Oil Oil drills at Maracaibo Lake in Venezuela.. Photographer: Leslie Mazoch/AP The White House revealed more details of its plan to take control of Venezuela’s oil reserves, which Trump has said will lower US gasoline prices and replenish depleted crude reserves. The US will have the right to buy 80% of the oil produced by North American Blue Energy Partners, a privately held company granted 100-year concessions on oil fields with more than 65 billion barrels of reserves. The company plans to invest up to $100 billion in new oil infrastructure. Many questions remain about the deal, however, not least where the massive planned investment is supposed to come from. It’s still far from certain that the deal will lead to lower gas prices during Trump’s presidency, if at all. The private company at the heart of the deal is headed by Alejandro Betancourt, a controversial energy investor who has become a key middleman between the US and Venezuela. For more details on why the US is getting involved in Venezuelan oil, here’s our explainer. The Big Take Some in India have tuned to wood and charcoal as a temporary fix during cooking gas shortages. Photographer: Anindito Murkerjee/Bloomberg The Hormuz crisis has reshaped the global trade in cooking gas. From India to the Panama Canal, workarounds have helped the world to avert the most dire predictions made in the early days of war — but they’ve come at a cost. Big Take Podcast Social Media’s Safety Reckoning Is Here Opinion Kevin Warsh at the Fed’s Jackson Hole conference. Photographer: David Paul Morris/Bloomberg The Fed Chair seems sincerely committed to price stability and to the central bank’s overriding responsibility to deliver it, Bloomberg’s Editors write. But an essential tension will soon be laid bare: Warsh can impress investors with his anti-inflation zeal, or he can give the White House the monetary policy it demands. He can’t do both. More Opinions David Drucker Trump’s Popularity Has Reached a Critical Point Liam Denning The US-Venezuela Oil Deal Looks Like It Is Built on Quicksand Play Alphadots! Our daily word puzzle with a plot twist. Today’s clue is: Landscaping budget? Play now! Before You Go George Santos in 2025. Photographer: Yuki Iwamura/Bloomberg Ex-Congressman George Santos won’t be able to place another wager on Kalshi after the prediction market platform banned him for life for allegedly manipulating wagers on his attendance at this year’s State of the Union address. It’s the first such ban by Kalshi, which announced the action on Monday along with a fine of $71,356. A Few More Knicks and the Pope Boost Villanova’s Profile as $170 Million Campus Opens The Ex-Beer Baron Turning Windshield Repair Into a $7.8 Billion-a-Year Empire Dyson Debuts $499 AI-Powered Toothbrush With a Built-In Camera More From Bloomberg Enjoying Morning Briefing Americas? Get more news and analysis with our regional editions for Asia and Europe. Check out these newsletters, too: Money for insights, ideas and tools for doing more with your money AI Today chronicles the disruptions and threats of AI Market Moves delivers the pulse of the market to your inbox Markets Daily has what’s moving in stocks, bonds, FX and commodities Opinion Today for an afternoon roundup of our most vital opinions Explore all newsletters at Bloomberg.com. We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Morning Briefing Americas newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |