Breakfast News: Power Is AI’s New Gold Rush
Microsoft (NASDAQ:MSFT) just canceled a lease on an artificial intelligence (AI) data center in the U.K. because the building can’t get power until the 2030s. The Telegraph, which reported the development, says Microsoft was the anchor tenant for the site and it planned to lease thousands of Nvidia (NASDAQ:NVDA) chips. Wait until you find out who the landlord is. U.S. stocks fell sharply last week, with the S&P 500 down 1.95% and the Nasdaq down 4.48%. Wednesday’s September Consumer Price Index (CPI) showed inflation at 3.7% from a year earlier, above the 3.6% economists expected. It was the last CPI reading before the Fed meets Oct. 27-28. Stock futures, early signals of the market’s open, are higher this morning on “buy the dip” sentiment. S&P 500 futures gained 0.6% as Nasdaq futures rose 1.2% in early trading. A busy earnings week arrives as investors weigh last week’s sell-off. Several companies recommended across Fool services report this week. Here are some of the big ones: Continue reading