Supreme Court rejects Google challenge to US patent agency review policy

Google is funding a 100-MW virtual power plant (VPP) in the PJM Interconnection, signaling the growing importance of distributed capacity in tight power markets. The deal, operated by Voltus, holds the company responsible for Google's capacity obligation, reflecting new market dynamics. Experts highlight the potential of distributed resources to meet future electricity demand, with some utilities and states exploring new business models and regulatory frameworks.

Accenture Federal Services and Google Public Sector launched Gemini Launchpads to help federal agencies deploy AI agents while meeting strict compliance requirements. The initiative includes a 1,000-person workforce and pre-built agents for common functions. The partnership aims to address infrastructure bottlenecks and prepare agencies for upcoming regulatory deadlines, with Google providing infrastructure and Accenture offering domain expertise.

Google plans to build a 780-MW AI data center in Pine Island, Minnesota, aiming to finance 1,400 MW of wind, 200 MW of solar, and 300 MW of battery storage for Xcel Energy's grid. The deal, pending approval, includes commitments from Google to pay for unused capacity, ensuring infrastructure investment. Google's cloud business reported $25B in Q2 revenue, up 82% YoY. Critics suggest smaller data centers could utilize existing grid capacity more efficiently, reducing costs for all customers.

Google will invest $399 million in a 702 MW fuel cell project near Cheyenne, Wyoming, under a 20-year power purchase agreement with AEP. AEP plans to invest $4 billion, with construction starting in 2026 and operation expected by 2028. Google's data center will be served by a total resource mix of 2.7 GW, including reserve margins, with Black Hills Corp. managing the output. Google bears all costs, and the agreements run through 2048.

Berkshire Hathaway, led by Greg Abel, increased investments in Alphabet and Delta Air Lines, and repurchased $4.5 billion of its own stock in Q2. Abel's strategy aligns with Buffett's value-focused approach, with Berkshire holding $359.2 billion in cash and short-term investments post-purchases. Berkshire's buybacks follow a rule where shares are repurchased only when below intrinsic value, with average prices of $476.01 in May and $487.98 in June.

Bank of America strategist Sebastian Raedler warns AI investors may lose money despite tech success, citing historical capital cycles. Hyperscaler capex expectations rose from $330B to $1T. NVIDIA (NVDA) fell 1.43%, Microsoft (MSFT) dropped 1.93%, and other tech stocks declined. Token prices fell 50%, pressuring revenues. Microsoft's capex reached $115.95B, while free cash flow dropped to $66.99B.