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2025-05-19T09:35:32Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Nvidia CEO Jensen Huang praised DeepSeek R1 for significant contributions to AI research. DeepSeek has made a “real impact” in how people think about inference and reasoning AI, Huang said. Nvidia’s stock fell sharply amid January’s DeepSeek selloff, but Huang said investors got it wrong. Jensen Huang heaped praise on the Chinese…

The launch of ChatGPT set off a race among Big Tech companies and startups to scale AI, but Google CEO Sundar Pichai doesn’t see it as a situation where only one player wins.”I think all of us are going to do well in this scenario,” Pichai said during an episode of the “All-In Podcast,” published Friday.Podcast host David Friedberg agreed with Pichai and said there seems to be a misconception that there’s one winner “and everyone else is a loser.” Friedberg said AI is introducing “an entirely new world” that’s bigger than that.Pichai’s comments came after former Googler and Podcast…

Moody’s Downgrade and Weak Chinese Data Spark Demand Fears The oil market came under pressure following Moody’s downgrade of the U.S. credit outlook and softer-than-expected Chinese economic data. Monday’s data from China showed industrial output and retail sales growth slowing in April, denting hopes for a sustained recovery in the world’s second-largest oil consumer. Analysts flagged the timing of Moody’s downgrade as particularly damaging, given rising concerns over U.S. debt sustainability and broader monetary health. While the immediate market reaction has been modest, traders are bracing for a potential “slow bleed” in sentiment. China’s economic hiccups are equally concerning, especially…

Despite slowdown, data points to reliance of Chinese economy in the face of Donald Trump’s tariffs.China’s industrial output and retail sales growth have slowed amid trade tensions with the United States. Factory output grew 6.1 percent year-on-year in April, down from a 7.7 percent rise in March, data released by China’s National Bureau of Statistics showed on Monday. While down compared with the previous month, the figure beat analysts’ expectations. Analysts polled by the Reuters and Bloomberg news agencies had respectively forecast growth of 5.5 percent and 5.7 percent. Retail sales grew 5.1 percent year-on-year, slower than the 5.9 percent growth recorded…

Big Tech is winning the battle of the bulge.Companies are shedding layers of management in an attempt to reduce bureaucracy. Some employees are applauding the move, known as flattening the middle, in hopes of getting faster and boosting efficiency.Microsoft said Tuesday it’s slashing about 6,000 employees. While the days since have made it clear many of those cut were individual-contributor-level engineers, executives previously told BI one motivation behind the recent cuts was to increase managers’ “span of control,” or the number of reports per manager.Intel announced a great flattening last month, emphasizing more time in the office, less admin, and…

Abu Dhabi National Oil Co. (ADNOC) has acquired a 38 percent stake in the Block I gas and condensate fields on Turkmenistan’s side of the Caspian Sea, which are operated by Petroliam Nasional Bhd. (Petronas). Malaysia’s national oil and gas company Petronas signed a new production sharing contract with ADNOC investment firm XRG and State Enterprise Hazarnebit. Petronas will retain a 57 percent stake, while the local partner will own the remaining five percent. Block I currently produces about 400 million cubic feet a day of natural gas, according to Petronas. “It offers significant long-term potential, with access to over…

Electric Hydrogen, an American manufacturer of high-power electrolyzer plants, announced today that Infinium, a leading producer of commercial eFuels, has selected Electric Hydrogen’s 100 megawatt (MW) HYPRPlant for its large-scale eFuels facility in Texas, Project Roadrunner. Electric Hydrogen’s HYPRPlant is a complete solution that lowers hydrogen total installed project cost by up to 60% relative to other electrolyzer solutions. The company manufactures HYPRPlants in the United States: its proprietary electrochemical stacks are built in Electric Hydrogen’s Massachusetts gigafactory while the chemical process modules are manufactured in Texas, drawing on strong local expertise from the oil and gas industry. Electric Hydrogen’s innovative technology and modular manufacturing approach…

The European Union is facing additional costs of 10 billion euro, or $11.2 billion to refill its natural gas storage caverns this year. And this is the best-case scenario, according to the Financial Times. It cold end up being a lot more expensive.The reason for the much higher bill is the colder winter of2024-2025, which depleted the bloc’s natural gas reserves more than each of the prior two winters when the weather was milder than usual, allowing the EU to retain comfortable levels of gas in storage. Towards the end of this winter, however, gas in storage fell close to…

Shell PLC remitted a total of $28.1 billion to governments in 24 countries where the British energy giant has upstream operations, with Nigeria maintaining its status as top recipient at $5.34 billion. Shell counts as payments to government those arising from exploration, prospection, discovery, development and extraction of oil, natural gas and minerals or other materials. The company excludes payments related to refining, gas liquefaction or gas-to-liquids activities, as well as payments made by entities where Shell has joint control. Shell also said that in line with a United Kingdom law requiring UK companies to report payments to governments, Shell…

Chinese fossil fuels output fell in April from the record levels hit in the prior month, although natural gas, crude oil and coal all delivered increases compared to the previous year as the government continues to prioritize security of supply despite weaker prices. Gas output rose 8.1 percent year-on-year to 21.5 billion cubic meters, while crude oil increased 1.5 pecent to 17.7 million tons, the statistics bureau said on Monday. Coal production rose 3.8 percent to 389 million tons, although that was 51 million tons less than March, offering a hint of relief for miners suffering from a slump in prices to four-year…