An anonymous reader shared this report from CNN: Five times the size of Paris. Visible from space. The world's biggest energy plant. Enough electricity to power Switzerland. The scale of the project transforming swathes of barren salt desert on the edge of western India into one of the most important sources of clean energy anywhere on the planet is so overwhelming that the man in charge can't keep up. "I don't even do the math any more," Sagar Adani told CNN in an interview last week.

Adani is executive director of Adani Green Energy Limited (AGEL). He's also the nephew of Gautam Adani, Asia's second richest man, whose $100 billion fortune stems from the Adani Group, India's biggest coal importer and a leading miner of the dirty fuel. Founded in 1988, the conglomerate has businesses in fields ranging from ports and thermal power plants to media and cements. Its clean energy unit AGEL is building the sprawling solar and wind power plant in the western Indian state of Gujarat at a cost of about $20 billion.

It will be the world's biggest renewable park when it is finished in about five years, and should generate enough clean electricity to power 16 million Indian homes... [T]he park will cover more than 200 square miles and be the planet's largest power plant regardless of the energy source, AGEL said.
CNN adds that the company "plans to invest $100 billion into energy transition over the next decade, with 70% of the investments ear-marked for clean energy."

Pursuing an unfair business practices case against Amazon, America's Federal Trade Commission has now "accused" Amazon of using Signal, reports the Seattle Times:

The newspaper notes that the app "can be set to automatically delete messages, to hide information related to the FTC's ongoing antitrust investigation into the company." In a court filing this week, the FTC moved to "compel" Amazon to share more information about its policies and instructions related to using the Signal app... The FTC accused Amazon executives of manually turning on the feature to delete messages in Signal even after the company learned that the FTC was investigating and had told Amazon to keep documents, emails and other messages.

Many of Amazon's senior leaders used Signal, according to the FTC, including former CEO and current chair Jeff Bezos, CEO Andy Jassy, and general counsel David Zapolsky, as well as Jeff Wilke, former head of Amazon's worldwide consumer business, and Dave Clark, former worldwide operations chief. "Amazon is a company that tightly controls what its employees put into writing," FTC attorneys said in a court filing Thursday. "But Amazon's senior leadership also used another channel for internal communications and avoided the need to talk carefully by destroying the records of their messages...."

In the court filing Thursday, the FTC asked Amazon to provide two troves of documents related to its use of Signal: Amazon's document preservation notices and its instructions about the use of "ephemeral messaging applications, including Signal." The FTC said Amazon waited for more than a year after it learned of the investigation to instruct its employees to preserve Signal messages. "It is highly likely that relevant information has been destroyed as a result of Amazon's actions and inactions," the FTC wrote in court records.

Long-time Slashdot reader lee1 shares "an interesting essay on the history of orthodoxy in quantum mechanics," published this week in Nature.

Its title? "'Shut up and calculate': how Einstein lost the battle to explain quantum reality." [T]he views of Danish physicist Niels Bohr came to dominate. Albert Einstein famously disagreed with him and, in the 1920s and 1930s, the two locked horns in debate. A persistent myth was created that suggests Bohr won the argument by browbeating the stubborn and increasingly isolated Einstein into submission. Acting like some fanatical priesthood, physicists of Bohr's 'church' sought to shut down further debate. They established the 'Copenhagen interpretation', named after the location of Bohr's institute, as a dogmatic orthodoxy.

My latest book Quantum Drama, co-written with science historian John Heilbron, explores the origins of this myth and its role in motivating the singular personalities that would go on to challenge it. Their persistence in the face of widespread indifference paid off, because they helped to lay the foundations for a quantum-computing industry expected to be worth tens of billions by 2040...
The Einstein-Bohr dispute raised larger issues, according to the article. "What is the purpose of physics? Is its main goal to gain ever-more-detailed descriptions and control of phenomena, regardless of whether physicists can understand these descriptions? Or, rather, is it a continuing search for deeper and deeper insights into the nature of physical reality?

"Einstein preferred the second answer," the articcle notes — and concluded that quantum mechanics was incomplete: Unlike Bohr, Einstein had established no school of his own. He had rather retreated into his own mind, in vain pursuit of a theory that would unify electromagnetism and gravity, and so eliminate the need for quantum mechanics altogether. He referred to himself as a "lone traveler". In 1948, U.S. theoretical physicist J. Robert Oppenheimer remarked to a reporter at Time magazine that the older Einstein had become "a landmark, but not a beacon".

Subsequent readings of this period in quantum history promoted a persistent and widespread suggestion that the Copenhagen interpretation had been established as the orthodox view... When learning quantum mechanics as a graduate student at Harvard University in the 1950s, US physicist N. David Mermin recalled vivid memories of the responses that his conceptual enquiries elicited from his professors, whom he viewed as 'agents of Copenhagen'. "You'll never get a PhD if you allow yourself to be distracted by such frivolities," they advised him, "so get back to serious business and produce some results. Shut up, in other words, and calculate."
The book argues that actually the physics world suffered from "a subtly different kind of orthodoxy" — an indifference to "foundational questions" outside the mainstream — but that the "myth" motivated projects and experiments.

"Although the wider physics community still considered testing quantum mechanics to be a fringe science and mostly a waste of time, exposing a hitherto unsuspected phenomenon — quantum entanglement and non-locality — was not..."

"In less than 15 years, battery costs have fallen by more than 90%," according to a new report from the International Energy Agency, "one of the fastest declines ever seen in clean energy technologies."

And it's expected to get even cheaper, reports Reuters: An expected sharp fall in battery costs for energy storage in coming years will accelerate the shift to renewable energy from fossil fuels, the International Energy Agency (IEA) said on Thursday... The total capital costs of battery storage are due to tumble by up to 40% by 2030, the Paris-based watchdog said in its Batteries and Secure Energy Transitions report.

"The combination of solar PV (photovoltaic) and batteries is today competitive with new coal plants in India," said IEA Executive Director Fatih Birol. "And just in the next few years, it will be cheaper than new coal in China and gas-fired power in the United States. Batteries are changing the game before our eyes." [...] The global market for energy storage doubled last year to over 90 gigawatt-hours (GWh), the report said...

The slide in battery costs will also help provide electricity to millions of people without access, cutting by nearly half the average electricity costs of mini-grids with solar PV coupled with batteries by 2030, the IEA said.
The Los Angeles Times notes one place adopting the tech is California: Standing in the middle of a solar farm in Yolo County, [California governor] Newsom announced the state now had battery storage systems with the capacity of more than 10,000 megawatts — about 20% of the 52,000 megawatts the state says is needed to meet its climate goals.
Although Newsom acknowledged it isn't yet enough to eliminate blackouts...

An anonymous reader shared this report from the Associated Press: Poland's prosecutor general told the parliament on Wednesday that powerful Pegasus spyware was used against hundreds of people during the former government in Poland, among them elected officials. Adam Bodnar told lawmakers that he found the scale of the surveillance "shocking and depressing...." The data showed that Pegasus was used in the cases of 578 people from 2017 to 2022, and that it was used by three separate government agencies: the Central Anticorruption Bureau, the Military Counterintelligence Service and the Internal Security Agency. The data show that it was used against six people in 2017; 100 in 2018; 140 in 2019; 161 in 2020; 162 in 2021; and then nine in 2022, when it stopped.... Bodnar said that the software generated "enormous knowledge" about the "private and professional lives" of those put under surveillance. He also stressed that the Polish state doesn't have full control over the data that is gathered because the system operates on the basis of a license that was granted by an Israeli company.
"Pegasus gives its operators complete access to a mobile device, allowing them to extract passwords, photos, messages, contacts and browsing history and activate the microphone and camera for real-time eavesdropping."

What happened after India banned TikTok? The move "mostly drew widespread support" notes the Associated Press, in a country "where protesters had been calling for a boycott of Chinese goods since the deadly confrontation in the remote Karakoram mountain border region." "There was a clamour leading up to this, and the popular narrative was how can we allow Chinese companies to do business in India when we're in the middle of a military standoff," said Nikhil Pahwa, a digital policy expert and founder of tech website MediaNama. Just months before the ban, India had also restricted investment from Chinese companies, Pahwa added. "TikTok wasn't a one-off case. Today, India has banned over 500 Chinese apps to date."

At the time, India had about 200 million TikTok users. And the company also employed thousands of Indians.

TikTok users and content creators, however, needed a place to go — and the ban provided a multi-billion dollar opportunity to snatch up a big market. Within months, Google rolled out YouTube Shorts and Instagram pushed out its Reels feature. Both mimicked the short-form video creation that TikTok had excelled at. "And they ended up capturing most of the market that TikTok had vacated," said Pahwa.
TikTok is also banned in Nepal and Somalia, according to Mashable, and the Associaterd Press adds that it's now also banned in Pakistan, Nepal and Afghanistan "and restricted in many countries in Europe."

Their article concludes that "for the most part, content creators and users in the four years since the ban have moved on to other platforms." They quote one frequent TikTok user as saying they just switched to Instagram after the ban, and "It wasn't really a big deal."

Reuters reports that America's Federal Aviation Administration "is investigating a union's claims that Boeing retaliated against two employees who in 2022 insisted the planemaker re-evaluate prior engineering work on 777 and 787 jets."

The employees' union "said the two unidentified engineers were representatives of the FAA, which delegates some of its oversight authority and certification process to Boeing workers." The FAA noted on Tuesday that in 2022 it boosted oversight of planemakers by protecting aviation industry employees who perform agency functions from interference by their employers. A December 2021 Senate report found "FAA's certification process suffers from undue pressure on line engineers and production staff."

"Boeing can tell Congress and the media all it wants about how retaliation is strictly prohibited," said SPEEA Director of Strategic Development Rich Plunkett. "But our union is fighting retaliation cases on a regular basis, and, in this specific case, Boeing is trying to hide information that would shed light on what happened...."

Last week, Boeing quality engineer whistleblower Sam Salehpour, who raised questions about Boeing widebody jets, told senators he was told to "shut up" when he flagged safety concerns. He has said he was removed from the 787 program and transferred to the 777 jet due to his questions.
Boeing has "zero tolerance for retaliation," according a statement quoted by Reuters, in which the company says they "encourage our employees to speak up when they see an issue. After an extensive review of documentation and interviewing more than a dozen witnesses, our investigators found no evidence of retaliation or interference. We have determined the allegations are unsubstantiated."

The union's version of the story? "After nearly six months of debate, the two engineers, with backing from the FAA, prevailed. Boeing re-did the required analysis." The two engineers were still Boeing employees, however, and Boeing management was not pleased. When they came up for their next performance reviews, the two engineers received identical negative evaluations... Even after the manager of the two engineers admitted that he had rated them both poorly at the request of the 777 and 787 managers who had been forced to resubmit their work, Boeing refused to change the engineers' performance evaluations.

At this point, one of the engineers left in disgust; the other filed a formal "Speak Up" complaint with Boeing.

America's Federal Trade Commission "is sending more than $5.6 million in refunds to consumers," reports the Associated Press, "as part of a settlement with Amazon-owned Ring, which was charged with failing to protect private video footage from outside access." In a 2023 complaint, the FTC accused the doorbell camera and home security provider of allowing its employees and contractors to access customers' private videos. Ring allegedly used such footage to train algorithms without consent, among other purposes. Ring was also charged with failing to implement key security protections, which enabled hackers to take control of customers' accounts, cameras and videos. This led to "egregious violations of users' privacy," the FTC noted.

The resulting settlement required Ring to delete content that was found to be unlawfully obtained, establish stronger security protections and pay a hefty fine. The FTC says that it's now using much of that money to refund eligible Ring customers.
According to their announcement Tuesday, the FTC is now sending 117,044 PayPal payments to affected consumers...

"Intel used to dominate the U.S. chip industry," writes CNBC. But now "it's struggling to stay relevant." Intel's long-awaited turnaround looks farther away than ever after the company reported dismal first-quarter earnings. Investors pushed the shares down 9% on Friday to their lowest level of the year. Although Intel's revenue is no longer shrinking and the company remains the biggest maker of processors that power PCs and laptops, sales in the first quarter trailed estimates. Intel also gave a soft forecast for the second quarter, suggesting weak demand... Intel is the worst-performing tech stock in the S&P 500 this year, down 37%.

Meanwhile, the two best-performing stocks in the index are chipmaker Nvidia and Super Micro Computer, which has been boosted by surging demand for Nvidia-based artificial intelligence servers. Intel, long the most valuable U.S. chipmaker, is now one-sixteenth the size of Nvidia by market cap. It's also smaller than Qualcomm, Broadcom, Texas Instruments, and AMD. For decades, it was the largest semiconductor company in the world by sales, but suffered seven straight quarters of revenue declines recently, and was passed by Nvidia last year.
Intel's problems "are decades in the making," according to CNBC, suggesting that one turning point was Apple's decision not to use Intel's chips in its iPhone. Now nearly every smartphone built uses Arm chips built by Apple and Qualcomm, while Apple's huge orders for TSMC chips "provided the cash to annually upgrade the manufacturing equipment at TSMC, which eventually surpassed Intel." Around 2017, mobile chips from Apple and Qualcomm started adding AI parts to their chips called neural processing units, another advancement over Intel's PC processors. The first Intel-based laptop with an NPU shipped late last year.

Intel has since lost share in its core PC chip business to chips that grew out of the mobile revolution... Apple stopped using Intel in its PCs in 2020. Macs now use Arm-based chips, and some of the first mainstream Windows laptops with Arm-based chips are coming out later this year. Low-cost laptops running Google ChromeOS are increasingly using Arm, too...

AMD made over 20% of server CPUs sold in 2022, and shipments grew 62% that year, according to an estimate from Counterpoint Research last year. AMD surpassed Intel's market cap the same year.

An anonymous reader quotes a report from TechCrunch: Darktrace is set to go private in a deal that values the U.K.-based cybersecurity giant at around $5 billion. A newly formed entity called Luke Bidco Ltd., formed by private equity giant Thoma Bravo, has tabled an all-cash bid of $7.75 per share, which represents a 44% premium on its average price for the three-month period ending April 25. However, this premium drops to just 20% when juxtaposed against Darktrace's closing price Thursday, as the company's shares had risen 20% to 5.18 pounds in the past month.

Founded out of Cambridge, U.K., in 2013, Darktrace is best known for AI-enabled threat detection smarts, using machine learning to identify abnormal network activity and attempts at ransomware attacks, insider attacks, data breaches and more. The company claims big-name customers including Allianz, Airbus and the city of Las Vegas. After raising some $230 million in VC funding and hitting a private valuation of $1.65 billion, Darktrace went public on the London Stock Exchange in April 2021, with an opening-day valuation of $2.4 billion. Its shares hit an all-time high later that year of 9.45 pounds and plummeted to an all-time low of 2.29 pounds last February. But they had been steadily rising since the turn of the year and hadn't fallen below 4 pounds since the beginning of March.

The full valuation based on Thoma Bravo's offer amounts to $5.3 billion on what is known as a full-diluted basis, which takes into account all convertible securities and is designed to give a more comprehensive view of a company's valuation. However, the enterprise value in this instance is approximately $4.9 billion, which includes additional considerations such as debt and cash positions. [...] The deal is of course still subject to shareholder approval, but the companies said that they expect to complete the transaction by the end of 2024. "The proposed offer represents an attractive premium and an opportunity for shareholders to receive the certainty of a cash consideration at a fair value for their shares," Darktrace chair Gordon Hurst said. "The proposed acquisition will provide Darktrace access to a strong financial partner in Thoma Bravo, with deep software sector expertise, who can enhance the company's position as a best-in-class cyber AI business headquartered in the U.K."

U.S. authorities consider DJI a security threat. Congress is weighing legislation to ban it [non-paywalled link], prompting a lobbying campaign from the company, which dominates the commercial and consumer drone markets. The New York Times: DJI is on a Defense Department list of Chinese military companies whose products the U.S. armed forces will be prohibited from purchasing in the future. As part of the defense budget that Congress passed for this year, other federal agencies and programs are likely to be prohibited from purchasing DJI drones as well. The drones -- though not designed or authorized for combat use -- have also become ubiquitous in Russia's war against Ukraine.

The Treasury and Commerce Departments have penalized DJI over the use of its drones for spying on Uyghur Muslims who are held in camps by Chinese officials in the Xinjiang region. Researchers have found that Beijing could potentially exploit vulnerabilities in an app that controls the drone to gain access to large amounts of personal information, although a U.S. official said there are currently no known vulnerabilities that have not been patched. Now Congress is weighing legislation that could kill much of DJI's commercial business in the United States by putting it on a Federal Communications Commission roster blocking it from running on the country's communications infrastructure.

The bill, which has bipartisan support, has been met with a muscular lobbying campaign by DJI. The company is hoping that Americans like Mr. Nordfors who use its products will help persuade lawmakers that the United States has nothing to fear -- and much to gain -- by keeping DJI drones flying. "DJI presents an unacceptable national security risk, and it is past time that drones made by Communist China are removed from America," Representative Elise Stefanik, Republican of New York and one of the bill's primary sponsors, said in an emailed statement this month.

Alphabet has reported first quarter results that topped analysts' estimates with soaring profits in its cloud division. It also announced its first-ever dividend. CNBC shares the results: Earnings per share: $1.89 vs. $1.51 per share expected by LSEG
Revenue: $80.54 billion vs. $78.59 billion expected by LSEG

Wall Street is also watching several other numbers in the report:

YouTube advertising revenue: $8.09 billion vs. $7.72 billion expected, according to StreetAccount.
Google Cloud revenue: $9.57 billion vs. $9.35 billion expected, according to StreetAccount.
Traffic acquisition costs (TAC): $12.95 billion $12.74 billion expected, according to StreetAccount.

Alphabet's revenue increased 15% from $69.79 billion a year earlier, the fastest rate of growth since early 2022. Alphabet said its board approved a cash dividend of 20 cents per share to be paid on June 17, to stockholders of record as of June 10. The company said it "intends to pay quarterly cash dividends in the future."

Jeff Lawson, the cofounder of cloud computing company Twilio, appears to have purchased the satirical news website The Onion from G/O Media. Business Insider reports: A trust linked to Lawson is behind a San Francisco-based company called Global Tetrahedron, which shares the name of a fictional evil megacorporation in a long-running Onion gag, business records show. G/O Media CEO Jim Spanfeller confirmed the sale of The Onion to Global Tetrahedron in an email Thursday to staff, first reported by New York Times journalist Katie Robertson.

"This company is made up of four digital media veterans with a profound love for The Onion and comedy based content," Spanfeller wrote. "The site's new owners have agreed to keep The Onion's entire staff intact and in Chicago, something we insisted be part of the deal." When asked about the purchase, Lawson replied: "What's The Onion?" Then, "What's a Tetrahedron?"

Fintech giant Stripe announced on Thursday that it would let customers accept cryptocurrency payments, starting with USDC stablecoins, initially only on Solana, Ethereum and Polygon. TechCrunch reports: This will be the first time that Stripe has taken crypto payments since 2018, when it dropped support for Bitcoin due to it being too unstable. Stripe in 2022 tried its first reentry into the crypto market when it announced payouts (but not payments) in USDC, with Twitter as its marquee customer for the service. Thursday's news has no customer names attached to it.

On Wednesday the company unveiled a long list of other launches, the most significant update being that Stripe, for the very first time, would let customers integrate competing payment providers with Stripe's other financial services tooling. Thursday's nod to expanding crypto support is also part of that bigger strategy to open up its walled garden. A brief timeline of Stripe's dance with crypto underscores the tricky line that Stripe has walked over the years when it comes to cryptocurrency. True to its disruptive roots as a fintech, the company has wanted to be in the middle of the conversation around how blockchain-based technologies will affect financial services. But it runs the risk of subverting its bigger business and positioning as a stable and sensible financial powerhouse if it dabbles too deeply or for too long in periods of instability. The company processed $1 trillion in transactions last year, and it's still growing; it is currently worth $65 billion on paper.

TikTok owner ByteDance would prefer shutting down its loss-making app rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the U.S., Reuters reported Thursday, citing sources. From the report: The algorithms TikTok relies on for its operations are deemed core to ByteDance overall operations, which would make a sale of the app with algorithms highly unlikely, said the sources close to the parent. TikTok accounts for a small share of ByteDance's total revenues and daily active users, so the parent would rather have the app shut down in the U.S. in a worst case scenario than sell it to a potential American buyer, they said.

A shut-down would have limited impact on ByteDance's business while the company would not have to give up its core algorithm, said the sources, who declined to be named as they were not authorised to speak to the media. It said late on Thursday in a statement posted on Toutiao, a media platform it owns, that it had no plan to sell TikTok, in response to an article by The Information saying ByteDance is exploring scenarios for selling TikTok's U.S. business without the algorithm that recommends videos to TikTok users.

Ford's electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall. From a report: Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers.

The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier. And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry. That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit. A price war among EVs for about a year and a half has made profitability very difficult said Ford CFO John Lawler. He said while Ford has removed about $5,000 in cost on each Mustang Mach-E, "revenue is dropping faster than we can take out the cost." In 2023, Ford Model e reported a full-year EBIT loss of $4.7 billion on sales of 116,000 EVs, or an average of $40,525 per vehicle, just more than a third of the first quarter loss.

Apple has rejected Spotify's new version of its iOS app with in-app pricing information for users in the European Union, the audio streaming firm said on Thursday. Reuters: The Swedish company submitted a new version of its app to Apple with basic pricing and website information, which is a minimum requirement under the European Commission's ruling in its music streaming case, it said in a post on X on Wednesday. Spotify said the Cupertino, California based-Apple rejected its update in a response directly sent to the company.

"Apple has once again defied the European Commission's decision, rejecting our update for attempting to communicate with customers about our prices unless we pay Apple a new tax. Their disregard for consumers and developers is matched only by their disdain for the law," a spokesperson for Spotify said in a statement. In March, Brussels fined Apple with 1.84 billion euros ($1.97 billion) for thwarting competition from music streaming rivals via restrictions on its App Store, marking its first ever EU antitrust penalty, following a 2019 complaint from Spotify.

The head of Indian IT company Tata Consultancy Services has said AI will result in "minimal" need for call centres in as soon as a year, with AI's rapid advances set to upend a vast industry across Asia and beyond. From a report: K Krithivasan, TCS chief executive, told the Financial Times that while "we have not seen any job reduction" so far, wider adoption of generative AI among multinational clients would overhaul the kind of customer help centres that have created mass employment in countries such as India and the Philippines. "In an ideal phase, if you ask me, there should be very minimal incoming call centres having incoming calls at all," he said. "We are in a situation where the technology should be able to predict a call coming and then proactively address the customer's pain point." He said chatbots would soon be able to analyse a customer's transaction history and do much of the work done by call centre agents. "That's where we are going...I don't think we are there today -- maybe a year or so down the line," he said.

An anonymous reader quotes a report from Ars Technica: Two researchers at the University of California, Davis -- Yanning Li and Alan Jenn -- have determined that nearly two-thirds of [California's] feeder lines don't have the capacity that will likely be needed for car charging. Updating to handle the rising demand might set its utilities back as much as 40 percent of the existing grid's capital cost. Li and Jenn aren't the first to look at how well existing grids can handle growing electric vehicle sales; other research has found various ways that different grids fall short. However, they have access to uniquely detailed data relevant to California's ability to distribute electricity (they do not concern themselves with generation). They have information on every substation, feeder line, and transformer that delivers electrons to customers of the state's three largest utilities, which collectively cover nearly 90 percent of the state's population. In total, they know the capacity that can be delivered through over 1,600 substations and 5,000 feeders.[...]

By 2025, only about 7 percent of the feeders will experience periods of overload. By 2030, that figure will grow to 27 percent, and by 2035 -- only about a decade away -- about half of the feeders will be overloaded. Problems grow a bit more slowly after that, with two-thirds of the feeders overloaded by 2045, a decade after all cars sold in California will be EVs. At that point, total electrical demand will be close to twice the existing capacity. The problems aren't evenly distributed, though. They appear first in high-population areas like the Bay Area. And throughout this period, most of the problems are in feeders that serve residential and mixed-use neighborhoods. The feeders that serve neighborhoods that are primarily business-focused don't see the same coordinated surge in demand that occurs as people get home from work and plug in; they're better able to serve the more erratic use of charging stations at office complexes and shopping centers. In terms of the grid, residential services will need to see their capacity expand by about 16 gigawatts by 2045. Public chargers will need nine gigawatts worth of added capacity by the same point. The one wild card is direct current fast charging. Eliminating fast chargers entirely would reduce the number of feeders that need upgrades by 12 percent. Converting all public stations to DC fast charging, in contrast, would boost that number by 15 percent. So the details of the upgrades that will be needed will be very sensitive to the impatience of EV drivers.

Paying for the necessary upgrades will be pricey, but there's a lot of uncertainty here. Li and Jenn came up with a range of anywhere between $6 billion and $20 billion. They put this in context in two ways. The total capital invested in the existing grid is estimated to be $51 billion, so the cost of updating it could be well over a third of its total value. At the same time, the costs will be spread out over decades and only total up to (at most) three times the grid's annual operation and maintenance costs. So in any one year, the costs shouldn't be crippling. All that might be expected to drive the cost of electricity up. But Li and Jenn suggest that the greater volume of electricity consumption will exert a downward pressure on prices (people will pay more overall but pay somewhat less per unit of electricity). Based on a few economic assumptions, the researchers conclude that this would roughly offset the costs of the necessary grid expansion, so the price per unit of electricity would be largely static. The findings have been published in the journal Proceedings of the National Academy of Sciences (PNAS).

According to the Wall Street Journal, a deal for IBM to acquire HashiCorp could materialize in the next few days. Shares of HashiCorp jumped almost 20% on the news.

UPDATE 4/24/24: IBM has confirmed the deal valued at $6.4 billion. "IBM will pay $35 per share for HashiCorp, a 42.6% premium to Monday's closing price," reports Reuters. "The acquisition will be funded by cash on hand and will add to adjusted core profit within the first full year of closing, expected by the end of 2024." HashiCorp's shares continued to surge Tuesday on the news. CNBC reports: Developers use HashiCorp's software to set up and manage infrastructure in public clouds that companies such as Amazon and Microsoft operate. Organizations also pay HashiCorp for managing security credentials. Founded in 2012, HashiCorp went public on Nasdaq in 2021. The company generated a net loss of nearly $191 million on $583 million in revenue in the fiscal year ending Jan. 31, according to its annual report. In December, Mitchell Hashimoto, co-founder of HashiCorp, whose family name is reflected in the company name, announced that he was leaving.

Revenue jumped almost 23% during that period, compared with 2% for IBM in 2023. IBM executives pointed to a difficult economic climate during a conference call with analysts in January. The hardware, software and consulting provider reports earnings on Wednesday. Cisco held $9 million in HashiCorp shares at the end of March, according to a regulatory filing. Cisco held early acquisition talks with HashiCorp, according to a 2019 report.