EC's $20bn AI boost, OpenAI's $12bn compute deal and the UK's fusion drive

Artificial intelligence (AI) is driving investments in infrastructure globally. The European Commission plans to invest $20 billion to build four "AI gigafactories" to enhance its AI capabilities. Meanwhile, developers CIM Group and Novva Data Centers have secured a $2 billion loan to construct a 100-acre AI data center in Utah. However, these massive projects raise concerns about environmental impacts, including significant energy consumption and electronic waste.

OpenAI has secured a $12 billion, five-year contract with cloud computing provider CoreWeave to supply the necessary computing power for training and operating its AI models. This partnership allows OpenAI to reduce its dependency on Microsoft for computing resources, with Microsoft agreeing to spend $10 billion on CoreWeave's services by 2030. CoreWeave, which transitioned from cryptocurrency mining to cloud services, has become a notable provider for AI development using Nvidia's GPUs.

The UK Atomic Energy Authority (UKAEA) and Eni are building the world's largest and most advanced tritium fuel cycle facility, set to open in 2028 at Culham Campus, Oxfordshire. The site will focus on recovering, storing and recycling tritium—a crucial step toward making fusion energy commercially viable.

Microsoft plans to invest an additional $297 million in artificial intelligence infrastructure in South Africa. The investment aims to enhance AI capabilities in the region and includes funding technical certification exams for 50,000 individuals to develop high-demand digital skills. This initiative aligns with Microsoft's broader strategy to expand data centers for training AI models and deploying AI and cloud-based applications.

Siemens Energy has entered into an exclusive agreement to supply conventional technology, including steam turbines and generators, for Rolls-Royce's small modular nuclear reactors (SMRs). These Generation 3+ modular nuclear power plants are designed to be more scalable, faster and cost-effective to deploy compared to traditional large-scale nuclear plants. The partnership is expected to boost job creation and manufacturing opportunities in the UK. Rolls-Royce's SMRs, each with up to 470 megawatts output, have been selected for projects in the Czech Republic and are under consideration in Britain and Sweden.

Last Energy has announced plans to construct 30 microreactors in Haskell County, Texas, to meet the increasing energy demands of the state's data centers. The company has initiated steps for development, including filing for grid connection with ERCOT and an "Early Site Permit" with the U.S. Nuclear Regulatory Commission. Data centers in Texas, developed by companies like OpenAI and Meta, consume significant amounts of power, prompting the exploration of nuclear power as a cleaner and more efficient energy source.

Equinix has forecasted its first-quarter and annual revenue to be below analysts' estimates, attributing this to the impacts of a strong dollar and significant spending on data center expansion, influenced by the growing adoption of generative AI. The company's extensive international presence makes it susceptible to foreign exchange rate fluctuations.

Researchers at The Ohio State University have developed a prototype battery that converts gamma radiation from spent nuclear fuel into electricity. Tests demonstrated the battery's potential, suggesting future applications in environments with high radiation levels, such as nuclear waste storage or space exploration.