Fervo Energy Raises $462 Million, Lands Google as Investor

Google is reportedly facing a significant fine from the European Union next year for allegedly favoring its own services over competitors, a move that underscores ongoing scrutiny of the tech giant's market practices. This potential penalty reflects the EU's commitment to enforcing competition laws in the digital sector.

Disney has announced a landmark $1 billion investment in OpenAI, which includes licensing its characters for use in the Sora video generation platform. This three-year deal allows users to create videos featuring iconic characters from Disney, Marvel, Star Wars, and Pixar, marking a significant collaboration between the entertainment and AI sectors.

Phoebe Gates has played a pivotal role in the AI shopping sector with a significant $30 million investment in Phia, elevating the company's valuation to $180 million. This infusion marks a notable milestone in the intersection of technology and retail, particularly in Silicon Valley, where innovation thrives.

Fervo Energy has successfully raised $462 million in funding, with significant investment from Google and support from Bill Gates’s Breakthrough Energy Ventures, establishing itself as a leader in advanced geothermal energy.

On Tuesday, the stock market closed lower, with the Dow and S&P 500 both experiencing declines, while the Nasdaq Composite managed a slight increase of 0.1%. The S&P 500 ended the day down 0.09%, reflecting a reversal from earlier gains as concerns about economic conditions persisted. This downturn follows a mixed performance in recent trading sessions, where optimism had been buoyed by strong earnings from tech companies like Nvidia.

The Pentagon has selected Google's Gemini AI platform for its artificial intelligence initiatives, marking a significant endorsement of Google's technological capabilities in defense applications. This decision underscores the growing reliance on advanced AI systems within military operations.

Google has announced plans to re-enter the smart glasses market with a new product expected to launch in 2026, marking a significant shift from its previous attempt with Google Glass, which was discontinued in 2015.