What I Read This Week…

Big tech is investing in nuclear energy to power data centers, U.S. consumer spending is driving global economic growth, scientists have successfully treated patients with severe autoimmune diseases

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Caught My Eye…

• Microsoft, Amazon, and Google are investing in nuclear energy to power their data centers. Microsoft plans to reopen Three Mile Island, while Amazon has invested in a data center campus powered by one of the largest existing nuclear facilities in the US. Microsoft and Google are also both showing interest in advanced small modular reactors, which are next-generation nuclear reactors that are about one-third the size of traditional nuclear reactors and feature a modular design that allows them to be manufactured in factories and more easily transported to installation sites. A smaller, modular approach to designing nuclear reactors addresses the problem of high construction costs and lengthy build times associated with traditional large-scale nuclear power plants. However, small modular reactors are still in development and are not expected to be operational until at least 2030.

• U.S. consumer spending, accounting for about 70% of U.S. GDP and 18% of global GDP, is currently a key driver of global economic growth. Despite a cumulative inflation rate of about 20% over the past four years, American consumers have maintained strong purchasing patterns. Resilient household balance sheets have enabled Americans to be more comfortable with lower savings (U.S. personal savings rate is 5.2% as of Q2 2024, lower than pre-pandemic levels) and higher spending. A buoyant stock market at record highs and Federal Reserve interest rate cuts have provided the foundation of these strong balance sheets by bolstering consumer wealth, encouraging consumers to maintain elevated spending levels while saving a smaller percentage of income. These factors contribute to the OECD's projection of 2.6% U.S. GDP growth this year.

• Scientists in Shanghai have successfully treated three patients with severe autoimmune diseases using a novel form of cell therapy derived from a healthy donor's immune cells. How does this treatment work? Scientists take immune cells from a healthy donor and then modify these cells to be able to recognize and target the cells that are responsible for autoimmune diseases. To prevent the donor's cells from attacking the patient's body or being rejected by the patient's immune system, scientists use CRISPR to remove specific genes from these cells. Using this technique, within two months, the three patients showed improvement in their conditions. One patient with muscle damage and two with skin and organ scarring experienced reversal of these symptoms. It's the first time donor cells have been used successfully for this type of treatment in autoimmune diseases. However, larger trials are needed to confirm its safety and effectiveness before it could become a widely available treatment.

Other Reading…

• Why Taiwan and Its Tech Industry Are Facing an Energy Crisis (Yale Environment 360)

• Google’s Grip on Search Slips as TikTok and AI Startup Mount Challenge (WSJ)

• Google Flexes its Edge in India in AI Showdown (TechCrunch)

• Uber and Lyft Drivers Use Teslas as Makeshift Robotaxis, Raising Safety Concerns (Reuters)

• Epic has a Plan for the Rest of the Decade (The Verge)

• Indian Companies Move in as U.S. Cuts China out of its Solar Industry (Financial Times)

• We’re Entering Uncharted Territory for Math (The Atlantic)

• Grindr Aims to Build the Dating World’s First AI ‘Wingman’ (WSJ)

• How to Stop Advertisers From Tracking Your Teen Across the Internet (Electronic Frontier Foundation)

• China’s Stock Rally for the Ages Shows Power of Crowds (Financial Times)

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