The Virtus Reaves Utilities ETF rose 1.65% in the quarter but lagged the S&P 500 Utilities Index, while delivering a 25.49% return over the past year. Key utilities like Entergy and Meta expanded their power generation commitments by 5 gigawatts to support growing data center needs. Xcel Energy and Google launched a 1.9 GW project combining new renewable energy and long-duration storage to meet rising electricity demand. This demand surge is fueled by data center expansion, industrial reshoring, and broader electrification trends. Additionally, Constellation boosted its share buyback program to $5 billion and projects over 20% annual earnings growth from 2026 to 2029. Geopolitical tensions in the Middle East added market volatility, impacting energy prices and inflation.
Anthropic has acquired Stainless, a startup specializing in developer tools for APIs, for approximately $300 million. Stainless, founded in 2022, has worked with major clients including Google DeepMind, Meta, and OpenAI, and developed software linked...
Meta is shifting 7,000 employees to new AI-focused teams as part of a major company transformation centered on artificial intelligence. This move precedes planned layoffs of about 8,000 workers, or 10% of its workforce, as Meta aims to boost producti...
Meta is laying off 10% of its global workforce, about 7,900 employees, as part of a major restructuring focused on integrating AI into its operations. The layoffs will occur in three waves on Wednesday, with affected employees notified by email early...
Over the past month, Alphabet's stock surged 16% following a strong Q1 report highlighting 63% growth in Google Cloud revenue and a doubling of its cloud backlog, signaling clear AI-driven revenue. In contrast, Meta Platforms' stock dropped 11% due t...
Citi increased its price target for Advanced Micro Devices (AMD) from $358 to $460, based on a new CPU market forecast expecting $132 billion by 2030 and rapid growth in AI-related CPU workloads. Despite the higher target, Citi maintained a Neutral r...
