Your state has been looking to attract a lot of investment. Some very big numbers are being thrown around, including a trillion dollars, you mentioned. How do you plan to do it.Today, the economy of India has matured. And funds are available on our door. We need people to transform.I have seen IT. To promote IT I sorted hi-tech city. That is late nineties story.Today you are seeing AI, datacenter and quantum computers. Leap frog. And also, Government of India wanted to go in a big way.Technology breakthroug ...

Financial Data and Key Metrics Changes - The company reported third quarter revenue of $213 million, an increase of $40 million from the same period in 2024 [10] - Gross profit was $3.3 million, up $54.4 million from the same period in 2024, with a gross profit margin of 1.5%, compared to negative 29.5% in the prior year [10][4] - Selling, general, and administrative costs decreased by $2.9 million to $14.6 million compared to the same period in 2024 [11] - The company reported a net loss of $75.2 million or $1.39 per share, compared to a net loss of $54.7 million or $1.14 per share in the same period last year [13] Business Line Data and Key Metrics Changes - The Civil segment had revenue of $99.5 million, an increase from $55.8 million in the same period in 2024, with a gross profit of $10.4 million and a gross margin of 10.5% [14] - The Transportation segment reported revenue of $113.9 million, a decrease of $3.6 million from the same period in 2024, with a gross loss of $7.2 million [15] - The Materials and Paving business line contributed $22.9 million to revenue, with a gross loss of $3 million [15] Market Data and Key Metrics Changes - The company added approximately $151 million in new awards and contract adjustments during the quarter, bringing the total backlog to approximately $2.26 billion [6] - The company expects to burn approximately 39% of the backlog over the next 12 months [16] Company Strategy and Development Direction - The company is focusing on finalizing remaining legacy projects and transitioning to high-quality new core backlog, which is expected to de-risk the earnings profile [6] - The strategy includes targeting short-duration, high-margin projects in both public and private markets, with a strong emphasis on data center opportunities [7][8] - The company is well-positioned to benefit from the Infrastructure Investment and Jobs Act (IIJA) and recent state-level funding initiatives, such as Texas's Proposition 4 [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing demand for infrastructure projects and the potential for strong cash flow from operations in 2026 [32] - The company anticipates that legacy projects will have less impact on overall results in 2026 as they continue to wind down these projects [16] - Management maintains confidence in the long-term outlook and future direction of the business, expecting to improve profitability as they focus on core work [41] Other Important Information - The company is exploring debt solutions to provide additional capacity and flexibility in accelerating work on the legacy backlog [16] - A one-time non-cash tax expense of $57.3 million was recorded due to a valuation allowance on net deferred tax assets [12] Q&A Session Summary Question: Inquiry about data centers and private projects - Management indicated that they are looking at data center opportunities that align with their core market, with a mix of private and public projects [21] Question: Progress on legacy claims - Management expressed optimism about settling more legacy claims in the next 12 months, noting progress on smaller disputes [22][23] Question: Free cash flow outlook for Q4 - Management expects to see positive cash flow overall from operations in 2026, despite potential decreases in Q4 and Q1 of 2026 [32] Question: Size and runway of quick-turn projects in the Civil segment - Management highlighted strong civil margins and the positive impact of Texas's Proposition 4 on future projects [34] Question: Competitive advantage with tunnel boring machines - Management noted that they have a significant advantage with their fleet of tunnel boring machines, which positions them well for upcoming opportunities [35] Question: Expectations for core business margins in 2027 - Management anticipates improved profitability in 2027 as they focus on core work and complete legacy projects [41]

Energy Demand and Environmental Impact - Energy demand is expected to double by 2030, posing a steep cost to the planet [1][4] - Unbridled appetite for energy may be killing human societies, with AI potentially doubling energy needs by 2050 [4] - Data centers currently consume 1 in 3% of global electricity, projected to double by 2030, equaling Japan's total electricity consumption [12] - Shipping accounts for 2% of global CO2 emissions, highlighting the need for sustainable alternatives [89] Renewable Energy Solutions - Renewable energy sources like tidal power offer predictable and continuous energy [45][60] - Orkney generates over 100% of its electricity demand from renewables, showcasing a successful transition [62] - Tidal turbines can generate 2 megawatts, equivalent to powering 2,000 UK homes [51] - E-methanol, produced from renewable energy, can replace fossil fuels in heavy transport, aviation, and the chemical sector [69][73] Social and Economic Considerations - Rising energy demands exacerbate the climate crisis, disproportionately affecting vulnerable communities [20][41] - Low-cost cooling solutions can significantly reduce indoor temperatures in informal settlements, improving living conditions [31] - Fair conditioning has developed over 50 low-cost cooling methods, shared open-source without profit motive [38] Data Centers and AI - AI's energy demands are often hidden, requiring a behind-the-scenes look at data center power consumption [6] - Data centers require significant power, with one campus needing 45 megawatts, comparable to a city [10] - New GPUs for AI can consume 10 to 20 times more energy than traditional CPUs [11] - Recovering heat from data centers can be valuable for heating adjacent buildings or homes [14]

Company Strategy & Performance - PG&E employs a "simple affordable model" involving infrastructure investment offset by operating cost reductions, load growth, and improved credit metrics to lower rates [2][3] - The company has lowered rates three times in the last 15 months and plans to lower them again in 2026 while growing earnings at over 9% per year [4] - PG&E has buried 1,000 miles of power lines, reducing costs by $1 million per mile compared to initial projects [5] - Ignitions were down 35% year-over-year due to layers of protection and technology [6] Data Center & Load Growth - PG&E's service area is experiencing load growth due to increased compute demand from AI, which is being priced appropriately so residential customers are not subsidizing large loads [8][10] - The company has a site in Woodland prepared for up to 1 gigawatt of data center load, but most applications are for 100 megawatts, described as "Goldilocks load" [13] - Compute data centers are distributed throughout PG&E's service area, supporting companies like PayPal, Zoom, and Netflix [11] Nuclear Energy & Diablo Canyon - Diablo Canyon nuclear plant provides approximately one-ninth (11%) of California's daily power production [14] - PG&E has a 5-year extension from the state for Diablo Canyon and has received a 20-year operating permission from the Nuclear Regulatory Commission, conditional upon final state permits [15] - Legislative action will be necessary to extend the operation of Diablo Canyon beyond the initial 5-year extension [16][17]

Haha exactly 😂Yun-Ta Tsai (@YunTaTsai1):Designing an inference chip for robots is actually very difficult.In data centers each chip is bathed in jacuzzi and babysat by nannies. If they died it would be hot swapped by one of their clones.The fault rate of GPUs in datacenter is actually quite high. Industrial average ...

[Music] Hey, Morgan. Open AAI is asking the Trump administration to help lower the cost of AI infrastructure according to a letter obtained by Bloomberg. The startup wants the White House to expand a Key Chips Act tax credit to cover AI data centers and related components like transformers.Now, this comes just one day after OpenAI faced blowback over a comment made by its CFO implying that it would look for a government backs stop for its $1.4% trillion in comput deals. They have since been walking that bac ...

Hello everyone. The Treasury Secretary was all over television this weekend. He was hyping up the US economy.We saw multiple mega deals in the AI industry this morning. And Jordy Visser explains why Bitcoin is having its IPO moment. We're live today from the desk of Anthony Pmpliano.[Music] Before we get into today's show, I need your help. We currently have 36,021 subscribers on YouTube, but my goal is to get to 1 million. The people are saying it's not possible, but with your help, we're going to get ther ...

Global power demand will continue to grow rapidly over the next decade, jumping about 30% as EVs, data centers and the need to heat and cool buildings increases, according to Rystad https://t.co/onrVfTS07l ...

Financial Data and Key Metrics Changes - Reported sales for Q3 2025 were $5.6 billion, with adjusted operating profit at $823 million and adjusted EPS at $0.67, reflecting a year-over-year decline primarily due to lower volumes in the CSA residential business [16][17] - Total company organic growth was down 4%, with adjusted operating profit down 21% and adjusted EPS down 13% [16][17] - Free cash flow was approximately $225 million, impacted by lower operating profit and higher working capital levels [16] Business Line Data and Key Metrics Changes - Organic sales in the CSA segment declined 8%, with residential sales down 30% due to a 40% decline in volume, while commercial sales increased by 30% [17] - CSE segment saw residential and light commercial sales down low single digits, while commercial declined mid-single digits [18] - CSAME segment organic sales declined 2%, with strong growth in India and the Middle East offset by weakness in China [18] - CSD segment organic sales were up 6%, led by strong growth in container sales [19] Market Data and Key Metrics Changes - In Europe, residential heat pump sales were up about 15%, with Germany seeing a 45% increase [9][10] - The overall market for heating units in Germany is at 15-year lows, indicating potential for recovery [10][11] - Commercial HVAC business in CSA has shown best-in-class performance, with expectations for continued growth driven by data centers [12][13] Company Strategy and Development Direction - The company is focused on three vectors of growth: products, aftermarket, and systems, with significant progress reported in each area [4][5] - A new $5 billion share repurchase authorization was approved, reflecting confidence in the company's strategy and execution [4] - The company aims to reduce overhead by eliminating about 3,000 indirect positions and is taking aggressive cost actions to right-size for demand [4][14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the North American residential market, projecting a $500 million sales challenge and a 20% to 25% adjusted EPS headwind [3] - The company expects to end 2025 with CSA residential destocking behind it, anticipating a difficult comparison in the first half of 2026 [23][24] - Management remains optimistic about the recovery of the CSA residential business and expects continued strong performance in commercial HVAC and aftermarket segments [13][24] Other Important Information - The company is implementing significant cost actions expected to yield over $100 million in carryover savings for 2026 [21] - Adjusted EPS for the full year is projected to be about $2.65, with free cash flow expected to be around $2 billion [22] Q&A Session Summary Question: Inventory levels and sell-through dynamics - Management indicated that consolidated inventories are up about $500 million, primarily due to a sudden decline in residential volume and purposeful increases for components replacement [26][27] - They expect inventory levels to start reducing and aim for a 30% year-over-year decrease by year-end [29] Question: Pricing dynamics for 2026 - Management plans to announce a mid-single digit price increase for 2026, expecting to yield low single-digit range [34] Question: Structural cost reductions - The company is focused on structural cost reductions, targeting about 3,000 indirect positions, with a commitment to not add those back [35][36] Question: Outlook for CSA residential business - Management expects CSA residential volume to be flat to slightly up, with a focus on reducing inventory levels in the field [40][41] Question: Demand in non-data center verticals - Non-data center demand in commercial HVAC was up in the low teens, with mixed performance across various sectors [42][43] Question: Data center backlog and growth expectations - The company is on track to end the year with a backlog around $900 million, supporting growth expectations for 2026 [54][55]

Core Insights - The energy sector is experiencing significant demand growth driven by data centers and electrification, necessitating increased investment in transmission infrastructure [2][3] - First Energy plans to increase its capital expenditure (capex) for transmission by approximately 30% over the next five years, indicating a strong commitment to enhancing the transmission grid [3] - The company is actively addressing the labor force needs for infrastructure development through apprenticeship programs and hiring experienced personnel [5] Investment Opportunities - The investment in a robust transmission grid is seen as a critical opportunity for investors, particularly in light of the growing demand from AI and data center operations [3] - First Energy is ensuring that hyperscalers and data center developers commit to covering the costs of infrastructure investments, which mitigates the risk of overbuilding [7] Consumer Impact - There is a notable increase in customer bills, with generation costs accounting for 85% of the year-over-year increase in four out of five states where First Energy operates as a wire-only company [9] - In the state where First Energy is fully integrated, customer rates remained flat year-on-year, highlighting the impact of generation costs on utility bills [9] - The company is working with regulators and stakeholders to mitigate the impact of rising generation costs on consumers [10]