Transcript
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AI is transforming industries, but the data centers powering it require more energy and water than ever. At the break, join Christophe Beck, chairman and CEO of Ecolab, for insights on using water effectively while safeguarding this critical resource for future generations. Here's your morning TNB Tech minute for Thursday, January 29th. I'm Julie Chang for the Wall Street Journal. Norway's more than $2 trillion oil wealth fund, one of the world's largest investors, pared its exposure to some US Tech stocks. Last figures from the fund show it has trimmed its Nvidia stake to 1.26% by year end from 1.32% in June. It also paired holdings of Alphabet, Apple and Microsoft, but the fund raised its stakes in some tech companies like Amazon and Dutch chip machine company asml. The surge in US Tech stocks has benefited the fund, but its CEO expressed uncertainty today about whether it's a bubble. Tesla plans to convert the factory it uses to produce its Model S and X vehicles into a facility for its Optimus robots. That's according to CEO Elon Musk. During a call with analysts, he said the company is winding down production of those vehicle models at its Fremont factory next quarter and that it's part of its shift toward eventually making only autonomous vehicles. Musk said Tesla is targeting production of a million units of Optimus a year at the factory over the long term. And Dow is cutting 4,500 employees as part of a cost saving program that will lean on AI. The chemicals company said it's embarking on a program dubbed Transform to Outperform, which would employ AI and automation to reduce expenditure and capitalize growth and productivity. It said the program will Yield an additional $2 billion in operating earnings before interest, depreciation and amortization. These cuts come as Dow's quarterly loss widened due to increased costs and lower revenue, and they will lead to one time charges between 1.1 and $1.5 billion. And that's your TMB Tech Minute. We'll be back this afternoon with more. How are data center operators working to improve sustainability and water savings at every stage of the data center lifecycle? Here's Ecolabs Christophe Beck with some thoughts.
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The Mach 7 or the Mach 4? The ones are really so focused on high tech, are the most forward looking. They have the means, they have the mindset, they have the passion for innovation and they're really open to new things as well because everything is new with AI and with that technology as well. I think even if we're not where we wanted to be with that industry right now. We will be ahead in the next few years because innovation that's coming up right now is working much better than we thought. And it's really thinking in circular ways, being in a data center or in a microchip manufacturing plant.
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