Meta enters electricity trading to help accelerate the construction of new US power plants critical for its AI infrastructure buildout (Bloomberg)

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Meta is entering the power trading market to support its AI expansion, committing to long-term energy contracts to assist plant developers. This strategic move aims to bolster Meta's infrastructure as it continues to grow its artificial intelligence capabilities.

Bloomberg's Caroline Hyde reports on a turbulent week for markets driven by investor anxiety surrounding AI and cryptocurrency. OpenAI is collaborating with Foxconn to develop AI data center hardware in the U.S. Additionally, Cerebras CEO Andrew Feldman comments on the U.S. approval for advanced AI chips to be sold to the Middle East.

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Meta Platforms Inc. is entering the electricity trading market, aiming to expedite the development of new power plants in the U.S. that are essential for its artificial intelligence initiatives. This strategic move reflects the company's commitment to securing energy resources to support its growing AI operations.