Google plans $17 billion Wyoming data center amid rising threats of curbs

American Electric Power (AEP) raised its quarterly dividend to $0.97, with an annual yield of 3.0%. The company plans $100B in capital spending over five years, driven by data center demand. AEP's earnings cover the payout, with a payout ratio of 59% in 2026. CEO Bill Fehrman highlighted firm contracts backing 35GW of load. AEP expects modest dividend growth of 2% over the next five years, slower than peers like NextEra Energy (NEE) and Duke Energy (DUK).

Google, Meta, and TikTok sued California over Assembly Bill 1709, which limits algorithm-driven features and requires removal of child accounts with prohibited features. The companies argue the law infringes on their constitutional rights and replaces parental decisions with government restrictions. California Gov. Gavin Newsom defended the law, citing concerns about children's exposure to social media.

Anthropic (ANTH.PVT) is preparing for an IPO with a potential valuation of $1.5 trillion to $2 trillion. Amazon (AMZN) and Google (GOOG, GOOGL) are major investors, holding over 5% of the company's stock. Amazon has invested $18 billion and has a financing agreement worth up to $15 billion, while Google plans to invest up to $40 billion. Both companies also supply compute services to Anthropic, with multi-billion-dollar agreements in place.

Alphabet Inc.'s Google plans to invest $17 billion in a Wyoming data center, its first in the state. The facility will be powered by a 702-megawatt natural gas fuel cell development using Bloom Energy Corp. fuel cells. Google expects to generate hundreds of millions in local property taxes and address growth concerns. The project was initially announced by Crusoe, but Google took over due to cost and timetable concerns.

Oracle's (ORCL) Project Jupiter, a data center for OpenAI, faces a delay in obtaining a power permit in New Mexico. Yucca Growth Infrastructure, building the power infrastructure, waived a regulatory deadline to avoid denial. The permit is crucial for the data center's operation, which relies on Bloom Energy (BE) fuel cells and Energy Transfer LP's (ET) natural gas pipeline. The New Mexico Environment Department needs more time to assess emissions projections.

Tesla (TSLA) shares dropped 12% and SpaceX (SPCX) fell 9% following Democratic midterm wins, raising regulatory concerns for a potential merger. Analysts expect Tesla's 2028 EPS to be $3.24, below 2022 levels, with the stock trading at 170x forward P/E. The merger was seen as a key catalyst for Tesla's bull case, according to Barclays.