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A quiet revolution is reshaping the business model of software-as-a-service. The SaaS industry is shifting from monthly “per seat” licenses to embrace usage-based, pay-as-you-go pricing.The driving force? AI, and specifically a new class of reasoning models that are computationally intensive and expensive to operate.This isn’t just a pricing experiment; it may be an economic necessity for some companies as they adjust to the cost of running AI-powered software services.The rise of costly inferenceIf you’ve been reading my stories, you’ll know I warned that the generative AI revolution would bring major pricing changes to some internet businesses. Back in January 2024,…
Gina Rinehart in Western Australia.Courtesy Hancock Prospecting Outside of China, the most influential investor in the world of rare earth elements has to be Gina Rinehart, Australia’s richest woman. Rare earths may be just a small part of her $30 billion mining fortune, but Rinehart, through family holding company Hancock Prospecting, has acquired big stakes in leading non-Chinese rare earths companies, including those looking to ramp up operations in the United States. Her $800 million rare earths pile includes a 8.5% stake worth $317 million in MP Materials (NYSE:MP), which operates the only working rare earths mine in the United…
John Pike had his target in his sights. The Elliott Management partner was facing off against the chief executive of Phillips 66, the oil and gas giant in which he had built a $2.5bn stake, across a Manhattan meeting room. Over the course of an hour, the Texan company and its legion of defence advisers had a final chance to negotiate a truce with the world’s most feared activist hedge fund and avert the type of expensive proxy fight for which Pike was becoming known. They failed. Within 24 hours Elliott had launched one of the most aggressive activist campaigns…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.ExxonMobil has defeated an attempt by rival Occidental Petroleum to contest its production rights on one of the largest lithium deposits in the US, as oil companies fight for a foothold in the critical minerals business.The regulatory battle in Arkansas between two of the largest US oil companies comes as the Trump administration rushes to boost domestic extraction and processing of critical minerals to break American industry’s reliance on Chinese supplies.Lithium, a crucial ingredient in high-powered batteries used in the electric vehicle…
The tragedy found its way again on an ordinary summer day in Pahalgam, a stunning natural paradise with majestic crystal-clear lakes and lush green meadows; a place where tourists feel “hami aasto” (translated as If there is a paradise on earth, it is here; a famous phrase attributed to scenic beauty of Kashmir) when a sandal clade and cheap rifle equipped terrorists opened fire on civilian tourists, both Indian and foreign. The paradise was bloodied again and left to follow the same tired sequence of condemnations, statements, and televised outrage, and eventually silence until the next bullet finds another unsuspecting…
WASHINGTON, DC – JANUARY 31: U.S. President Donald Trump and Interior Secretary Doug Burghum’s focus … More on shifting the country away from reliance on China for critical minerals will be enhanced by the use of the Defense Production Act. (Photo by Chip Somodevilla/Getty Images)Getty Images The Trump Administration used the Defense Production Act as the basis for an executive order issued March 20, 2025 to sharply increase U.S. critical minerals production. Government agencies were given their marching orders, including directives to: Screen applications for critical mineral mining and refining projects, looking for those that can be given immediate approval…
Stay informed with free updatesSimply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.Oil prices slid more than 2 per cent on Wednesday as traders weighed the possibility that Opec+ will accelerate production increases in June amid continued tensions between key members of the cartel.Eight Opec+ members, including Saudi Arabia and Russia, surprised the market in early April by announcing plans to boost headline oil output in May by 411,000 barrels a day, up from a previously targeted increase of 122,000 b/d. When the members meet on May 5 to set output targets…
EU Funded Project HYScale, has successfully developed and tested high-performance materials that eliminate the need for critical raw materials and PFAS, offering a more sustainable and economically viable solution. These advances mark a major step towards the integration of the stack into a fully functional electrolyser system, targeting a CAPEX of 400 €/kW and advancing towards validation in an industrially relevant environment. With the EU aiming to cut greenhouse gas emissions by 40% by 2030—and up to 95% by 2050—there is an urgent need for scalable, sustainable energy solutions. Green hydrogen offers a versatile and clean alternative to decarbonise energy-intensive…
By Julianne Geiger – Apr 23, 2025, 9:48 AM CDT Crude oil inventories in the United States saw an increase of 200,000 barrels during the week ending April 18, according to new data from the U.S. Energy Information Administration released on Wednesday.Crude oil prices were trading down prior to the crude data release by the U.S. Energy Information Administration, continuing the price slide that began when the Liberation Day tariffs were announced. On Tuesday, the American Petroleum Institute (API) reported a different story: one that showed a large draw of 4.565 million barrels in U.S. crude oil inventories with large…
GREEN BAY, Wis. (AP) — The Frozen Tundra would’ve melted from all the rain.A thunderstorm Wednesday morning abruptly ended interview sessions with NFL draft prospects and sent folks scurrying for cover.Workers inside the draft theater were instructed to seek shelter because of lightning and events were held up until the rain cleared up.The sun was shining within two hours and the schedule was back on track.The skies opened up after Cam Ward, Travis Hunter and other draft prospects participated in a flag football clinic with middle school students and special Olympians outside Lambeau Field. The NFL is holding the draft…