@thomasaspencer.bsky.social
"The $100bn of bonds, bank loans and private credit deals tied to OpenAI are equivalent to the net debt directly held by the six largest corporate borrowers in the world".
OpenAI partners amass $100bn debt pile to fund its ambitions - on.ft.com/4ioWegz via @FT
OpenAI partners amass $100bn debt pile to fund its ambitions - on.ft.com/4ioWegz via @FT
OpenAI partners amass $100bn debt pile to fund its ambitions
Cloud companies and developers rely on lossmaking start-up to repay huge loans
on.ft.com
November 28, 2025 at 7:00 AM
"The $100bn of bonds, bank loans and private credit deals tied to OpenAI are equivalent to the net debt directly held by the six largest corporate borrowers in the world".
OpenAI partners amass $100bn debt pile to fund its ambitions - on.ft.com/4ioWegz via @FT
OpenAI partners amass $100bn debt pile to fund its ambitions - on.ft.com/4ioWegz via @FT
China thinks that its oil demand for transport has already peaked: "Overall oil consumption will likely reach its peak around 2026, as the usage of refined oil products for fuel has already peaked and petrochemical feedstock demand will maintain moderate growth."
english.news.cn/20251124/515...
english.news.cn/20251124/515...
Explainer: How will China peak coal, oil use in its climate push
english.news.cn
November 27, 2025 at 9:45 AM
China thinks that its oil demand for transport has already peaked: "Overall oil consumption will likely reach its peak around 2026, as the usage of refined oil products for fuel has already peaked and petrochemical feedstock demand will maintain moderate growth."
english.news.cn/20251124/515...
english.news.cn/20251124/515...
Cholderlos de Laclos, author of Dangerous Liaisons (a book before it was a movie), knew this. He wrote "language is the dress of thought".
this is good
I’ve been running around asking tech execs and academics if language was the same as intelligence for over a year now - and, well, it isn’t. @benjaminjriley.bsky.social explains how the bubble is built on ignoring cutting-edge research into the science of thought www.theverge.com/ai-artificia...
November 25, 2025 at 3:29 PM
Cholderlos de Laclos, author of Dangerous Liaisons (a book before it was a movie), knew this. He wrote "language is the dress of thought".
Are in a race for AGI? Or a race for EAAI?
If we think we're in a race for economically applicable AI, the strategy becomes different.
www.wsj.com/tech/ai/ai-r...
If we think we're in a race for economically applicable AI, the strategy becomes different.
www.wsj.com/tech/ai/ai-r...
Robots and AI Are Already Remaking the Chinese Economy
China’s factories and ports are learning to make and export more goods faster, cheaper and with fewer workers.
www.wsj.com
November 25, 2025 at 12:33 PM
Are in a race for AGI? Or a race for EAAI?
If we think we're in a race for economically applicable AI, the strategy becomes different.
www.wsj.com/tech/ai/ai-r...
If we think we're in a race for economically applicable AI, the strategy becomes different.
www.wsj.com/tech/ai/ai-r...
Data centres pose challenges for electricity systems because they are becoming massive and tend to cluster together.
November 21, 2025 at 4:04 PM
Data centres pose challenges for electricity systems because they are becoming massive and tend to cluster together.
Future energy demand growth is going to be highly correlated with solar irradiation. That's an opportunity for solar
November 20, 2025 at 5:48 PM
Future energy demand growth is going to be highly correlated with solar irradiation. That's an opportunity for solar
We are offtrack with net zero pathways in the aggregate, but diving in deeper, some technologies are tracking in line with our first net zero pathway and some are way off track. This is not just about hydrogen or CCUS, we're also way off track on efficiency.
November 19, 2025 at 4:50 PM
We are offtrack with net zero pathways in the aggregate, but diving in deeper, some technologies are tracking in line with our first net zero pathway and some are way off track. This is not just about hydrogen or CCUS, we're also way off track on efficiency.
Sometimes graphs are data, sometimes they are art.
Here is our representation (with real data of course) of how we have gone off track with pathways that limit warming to 1.5 degrees with no or low overshoot.
Here is our representation (with real data of course) of how we have gone off track with pathways that limit warming to 1.5 degrees with no or low overshoot.
November 18, 2025 at 5:19 PM
Sometimes graphs are data, sometimes they are art.
Here is our representation (with real data of course) of how we have gone off track with pathways that limit warming to 1.5 degrees with no or low overshoot.
Here is our representation (with real data of course) of how we have gone off track with pathways that limit warming to 1.5 degrees with no or low overshoot.
"What Is Intelligence" is a book of breathtaking ambition, threading together evolution, neuroscience and AI.
The book sometimes misses a beat, but you will not look on the world or the human mind in the same way after reading it. As close to a grand theory of intelligence as I have seen.
The book sometimes misses a beat, but you will not look on the world or the human mind in the same way after reading it. As close to a grand theory of intelligence as I have seen.
November 17, 2025 at 10:46 PM
"What Is Intelligence" is a book of breathtaking ambition, threading together evolution, neuroscience and AI.
The book sometimes misses a beat, but you will not look on the world or the human mind in the same way after reading it. As close to a grand theory of intelligence as I have seen.
The book sometimes misses a beat, but you will not look on the world or the human mind in the same way after reading it. As close to a grand theory of intelligence as I have seen.
Reposted
I just listened to the most interesting 14-minute speech delivered at The Art of Tax Reform Summit. Yes, really.
youtu.be/ODSKfN6pSMs?...
youtu.be/ODSKfN6pSMs?...
Tim Minchin’s Full Speech at The Art of Tax Reform Summit 2025 - NSW, Australia
YouTube video by Tim Minchin
youtu.be
November 3, 2025 at 1:20 AM
I just listened to the most interesting 14-minute speech delivered at The Art of Tax Reform Summit. Yes, really.
youtu.be/ODSKfN6pSMs?...
youtu.be/ODSKfN6pSMs?...
Reposted
Recently, Reinforcement Learning through Verifiable Rewards was promised to make LLMs better at information retrieval. A recent paper suggests it can help confirm verifiable (true/false) fact, but will also confirm flawed beliefs: www.nature.com/articles/s42...
Language models cannot reliably distinguish belief from knowledge and fact - Nature Machine Intelligence
Suzgun et al. find that current large language models cannot reliably distinguish between belief, knowledge and fact, raising concerns for their use in healthcare, law and journalism, where such disti...
www.nature.com
November 4, 2025 at 1:58 PM
Recently, Reinforcement Learning through Verifiable Rewards was promised to make LLMs better at information retrieval. A recent paper suggests it can help confirm verifiable (true/false) fact, but will also confirm flawed beliefs: www.nature.com/articles/s42...
We published today a commentary on the EU data centre project pipeline. This includes new data on the project pipeline in major European markets.
www.iea.org/commentaries...
www.iea.org/commentaries...
Overcoming energy constraints is key to delivering on Europe's data centre goals – Analysis - IEA
Overcoming energy constraints is key to delivering on Europe's data centre goals - A commentary by Vincent Jacamon, Julie Dallard, Thomas Spencer
www.iea.org
November 17, 2025 at 5:24 PM
We published today a commentary on the EU data centre project pipeline. This includes new data on the project pipeline in major European markets.
www.iea.org/commentaries...
www.iea.org/commentaries...
A major uncertainty facing this year's WEO is the outlook for trade in low-emissions energy technologies.
We highlight growing exports, particularly from China, coexisting alongside heightened trade tensions, excess capacity, and falling profit margins for producers.
We highlight growing exports, particularly from China, coexisting alongside heightened trade tensions, excess capacity, and falling profit margins for producers.
November 13, 2025 at 12:22 PM
A major uncertainty facing this year's WEO is the outlook for trade in low-emissions energy technologies.
We highlight growing exports, particularly from China, coexisting alongside heightened trade tensions, excess capacity, and falling profit margins for producers.
We highlight growing exports, particularly from China, coexisting alongside heightened trade tensions, excess capacity, and falling profit margins for producers.
‘Phantom’ data centres muddy forecasts for US power needs - on.ft.com/43tkLuz via @FT
"The utility, which serves more than 10mn people, recently declared that out of its 65-gigawatt 2040 pipeline, it is confident that only 22 per cent is likely to materialise."
"The utility, which serves more than 10mn people, recently declared that out of its 65-gigawatt 2040 pipeline, it is confident that only 22 per cent is likely to materialise."
‘Phantom’ data centres muddy forecasts for US power needs
Developers are overstating energy needs and keeping projects alive even after they are no longer viable
on.ft.com
November 13, 2025 at 7:15 AM
‘Phantom’ data centres muddy forecasts for US power needs - on.ft.com/43tkLuz via @FT
"The utility, which serves more than 10mn people, recently declared that out of its 65-gigawatt 2040 pipeline, it is confident that only 22 per cent is likely to materialise."
"The utility, which serves more than 10mn people, recently declared that out of its 65-gigawatt 2040 pipeline, it is confident that only 22 per cent is likely to materialise."
Today, we put out our World Energy Outlook. I am going to do a post a day for as long I still have interesting graphs to share (will be a while).
First up: IEA scenarios are not outliers compared to those of energy majors. There are many that see a peak for oil in the next decade or so.
First up: IEA scenarios are not outliers compared to those of energy majors. There are many that see a peak for oil in the next decade or so.
November 12, 2025 at 3:33 PM
Today, we put out our World Energy Outlook. I am going to do a post a day for as long I still have interesting graphs to share (will be a while).
First up: IEA scenarios are not outliers compared to those of energy majors. There are many that see a peak for oil in the next decade or so.
First up: IEA scenarios are not outliers compared to those of energy majors. There are many that see a peak for oil in the next decade or so.
Finally a genuinely good Indian restaurant in Paris. Don't ruin it now, French people!
November 4, 2025 at 10:23 PM
Finally a genuinely good Indian restaurant in Paris. Don't ruin it now, French people!
We should be careful with investment numbers for data centres. By far the majority of capital investment in data centres is in the chips and servers. If you don't manufacture them domestically, the cost of importing them is subtracted from GDP.
Portugal is investing the equivalent of almost 5% of GDP near Europe’s longest beach in an effort to retool its economy for the 21st century.
Portugal Has Plenty of Tourists. Now It Wants Data Centers
Investment around the town of Sines totals almost 5% of GDP as the country seeks to retool its economy for the 21st century.
bloom.bg
November 4, 2025 at 8:51 AM
We should be careful with investment numbers for data centres. By far the majority of capital investment in data centres is in the chips and servers. If you don't manufacture them domestically, the cost of importing them is subtracted from GDP.
China offers tech giants cheap power to boost domestic AI chips - on.ft.com/3JAwFvZ via @FT
China offers tech giants cheap power to boost domestic AI chips
Beijing introduces grants that slash energy bills by up to half for some of country’s largest data centres
on.ft.com
November 4, 2025 at 6:42 AM
China offers tech giants cheap power to boost domestic AI chips - on.ft.com/3JAwFvZ via @FT
AI sync, therefore AI am
I hope noone has done this yet. I want to have a Locke on this joke.
November 3, 2025 at 6:48 PM
AI sync, therefore AI am
Reposted
I hope noone has done this yet. I want to have a Locke on this joke.
November 3, 2025 at 3:49 PM
I hope noone has done this yet. I want to have a Locke on this joke.
Reposted
India's rainfall in October was about 50% higher than normal for the month. It continues to be a wet year. May was the wettest May since records began in 1901.
robbieandrew.github.io/india/index....
robbieandrew.github.io/india/index....
November 1, 2025 at 9:12 AM
India's rainfall in October was about 50% higher than normal for the month. It continues to be a wet year. May was the wettest May since records began in 1901.
robbieandrew.github.io/india/index....
robbieandrew.github.io/india/index....
Batteries are crucial technology for the 21st century - www.ft.com/content/874f... via @FT
Batteries are crucial technology for the 21st century
Their role powering the growth of key industries means we cannot ignore economic security risks
www.ft.com
October 31, 2025 at 6:18 AM
Batteries are crucial technology for the 21st century - www.ft.com/content/874f... via @FT
Reposted
German non-renewable power generation during the past 75 years.
(nuclear / lignite / coal / gas)
Last year Germany produced just 160 TWh of electricity from fossil sources. The last time the number was that low was 1961.
(nuclear / lignite / coal / gas)
Last year Germany produced just 160 TWh of electricity from fossil sources. The last time the number was that low was 1961.
October 23, 2025 at 12:21 PM
German non-renewable power generation during the past 75 years.
(nuclear / lignite / coal / gas)
Last year Germany produced just 160 TWh of electricity from fossil sources. The last time the number was that low was 1961.
(nuclear / lignite / coal / gas)
Last year Germany produced just 160 TWh of electricity from fossil sources. The last time the number was that low was 1961.
Reposted
Big China electricity&industial data update🧵for September:
➡️Power generation from coal and gas dropped 5%, for a 1.2% fall in the first nine months of the year.
➡️Crude steel production fell by 5% and cement output by 9% in Sep, accelerating from 3% and 5% drops year-to-date.
➡️Power generation from coal and gas dropped 5%, for a 1.2% fall in the first nine months of the year.
➡️Crude steel production fell by 5% and cement output by 9% in Sep, accelerating from 3% and 5% drops year-to-date.
October 20, 2025 at 5:03 AM
Big China electricity&industial data update🧵for September:
➡️Power generation from coal and gas dropped 5%, for a 1.2% fall in the first nine months of the year.
➡️Crude steel production fell by 5% and cement output by 9% in Sep, accelerating from 3% and 5% drops year-to-date.
➡️Power generation from coal and gas dropped 5%, for a 1.2% fall in the first nine months of the year.
➡️Crude steel production fell by 5% and cement output by 9% in Sep, accelerating from 3% and 5% drops year-to-date.
"One astonishing characteristic is the amount of surface area locked away in these new materials: a MOF weighing one gramme can have an internal surface area the size of a football pitch."
Amazing stat.
Can molecular Lego save the planet? - on.ft.com/4ok6Oak via @FT
Amazing stat.
Can molecular Lego save the planet? - on.ft.com/4ok6Oak via @FT
Can molecular Lego save the planet?
The Nobel Prize-winning MOFs could be used to mop up pollutants, turn toxic substances benign and make water from desert air
on.ft.com
October 15, 2025 at 5:43 AM
"One astonishing characteristic is the amount of surface area locked away in these new materials: a MOF weighing one gramme can have an internal surface area the size of a football pitch."
Amazing stat.
Can molecular Lego save the planet? - on.ft.com/4ok6Oak via @FT
Amazing stat.
Can molecular Lego save the planet? - on.ft.com/4ok6Oak via @FT