TNB Tech Minute: Meta Turns to Nuclear Power to Fuel AI Ambitions
WSJ Tech News Briefing
Deep Dive
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Get their newest arrivals in-store, online, and in the app. Here's your TNB Tech Minute for Tuesday, June 3rd. I'm Victoria Craig for The Wall Street Journal.
Meta is turning to nuclear power to fuel its artificial intelligence ambitions. The social networking giant said today it struck a deal with Constellation Energy to buy 20 years of power generation from an Illinois nuclear plant. Though financial arrangements were not disclosed, Constellation's CEO said the deal will help cover relicensing, upgrades, and maintenance. He said running a plant for 20 more years requires billions of dollars in capital.
Elsewhere, the chief executive of Taiwan's TSMC said the chipmaker faces limited impact from tariffs. He also reaffirmed at the company's annual shareholder meeting today that AI demand remains strong and that he expects revenue and earnings to reach new all-time highs this year. Though the CEO said tariffs are typically paid by importers and won't directly affect the company, he warned if tariffs lead to a global economic downturn and higher prices, that could dampen demand.
And finally, an information technology security incident has forced Victoria's Secret to delay today's scheduled release of its quarterly earnings. The company said its financial results weren't affected by the incident, but the restoration process has prevented employees from accessing certain information needed to prepare the result.
Victoria's Secret hasn't disclosed a new earnings release date. It said the incident hasn't caused a material disruption to operations so far, but noted it has racked up related expenses that could dent future financial results. For a deeper dive into what's happening in tech, check out Wednesday's Tech News Briefing podcast.