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<ul><li><keyword id="19986399" type="General" weightage="20" keywordseo="Tata-Electronics" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Electronics" meta.hostid="261" meta.entityid="Tata Electronics">Tata Electronics</keyword> has reportedly closed a deal to acquire a majority stake in Pegatron’s iPhone plant in India.</li><li>The Pegatron plant has a production capacity of five million iPhones annually.</li><li>This will be the company’s third iPhone manufacturing plant in India.</li></ul> Tata Electronics continues to strengthen its smartphone manufacturing business in India as it has reportedly sealed a deal to acquire a majority stake in Taiwanese contract manufacturer Pegatron iPhone plant in India. Earlier reports had revealed that Pegatron is in talks with Tata to sell its Chennai plant as part of Cupertino tech giant Apple’s strategy to diversify manufacturing outside of China amid geopolitical tensions between Beijing and Washington. <div type="Article" hostid="261" msid="113204340" title="iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900" mstype="2" mssubtype="0"></div> According to a<a href="https://www.reuters.com/markets/deals/tata-seals-deal-with-pegatron-iphone-plant-indias-tamil-nadu-sources-say-2024-11-17/"> report</a> by Reuters, Tata has agreed to acquire a 60% stake in a new joint venture with Pegatron that will see the Indian conglomerate oversee the day-to-day operations while Pegatron offers technical support, as per two sources familiar with the deal. The financial details of the deal have not been made public and the two companies reportedly plan on filing for approval from the Competition Commission of India (CCI) soon. <h2>Tata’s iPhone production in India to get a boost</h2>Tata already operates an iPhone assembly plant in Karnataka, which it acquired from Taiwanese giant Wistron last year. The company is building a second plant in Hosur, Tamil Nadu. The new plant as part of its partnership will give a boost to Tata’s iPhone production capabilities and make it the only company manufacturing iPhones in India apart from Foxconn. <div type="Article" hostid="261" msid="113203568" title="iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900" mstype="2" mssubtype="0"></div> The Pegatron facility has around 10,000 employees and has the capacity to manufacture five million iPhones annually. India, which contributed to around 12 to 14% of total iPhone shipments in 2023 is expected to contribute around 20 to 25% of shipments this year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms">Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market</a> <a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms">JioStar announces plans starting at ₹15 – here’s everything you need to know</a>

Tata to buy a majority stake in Pegatron's iPhone plant in India

Enviro Infra Engineers, which is involved in the development of turnkey projects of <keyword id="19979438" type="General" weightage="20" keywordseo="sewage-treatment-plants" source="keywords">sewage treatment plants</keyword> and sewerage systems, on Monday fixed a price band of ₹140-148 per share for its ₹650 crore <keyword id="19913114" type="General" weightage="20" keywordseo="Initial-Public-Offering" source="keywords">Initial Public Offering</keyword> (IPO). The initial share sale will open for public subscription on November 22 and conclude on November 26. The bidding for anchor investors will open for a day on November 21, the company announced. The city-based company's proposed IPO is a combination of a fresh issue of 3.87 crore equity shares and an Offer For Sale (OFS) component of 52.68 lakh shares by promoters. Currently, promoters hold over 93 per cent stake in Enviro Infra Engineers. At the higher end of the price band, the IPO is valued at ₹650 crore, placing the company's market capitalization at approximately ₹2,600 crore. Proceeds from the fresh issue to the tune of ₹181 crore will be used to meet the working capital requirements, ₹100 crore will be used for payment of debt, ₹30 crore will be infused into the company's subsidiary, EIEL Mathura Infra Engineers, to build 60 million litres per day Sewage Treatment Plant (STP) at Mathura in Uttar Pradesh. Besides, a portion will be used for general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Enviro Infra Engineers is engaged in designing, construction, operation and maintenance of water and wastewater treatment plants and water supply scheme projects for government authorities/bodies. The treatment process installed by the company at most of the STPs is zero liquid discharge-compliant and the treated water can be used for horticulture, washing, refrigeration, and other process industries. Hem Securities is the sole book-running lead manager of the public issue. The equity shares of the company are expected to be listed on the BSE and NSE on November 29. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/kawasaki-ninja-zx-4rr-launched-in-india-priced-at-9-42-lakh/slidelist/115332842.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/kawasaki-ninja-zx-4rr-launched-in-india-priced-at-9-42-lakh/slidelist/115332842.cms" target="_blank">Kawasaki Ninja ZX-4RR launched in India priced at ₹9.42 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms" target="_blank">Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market</a>

Enviro Infra Engineers IPO to open on Nov 22; eyes ₹650 crore

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<ul class="summary-list"><li>Chinese automaker Chery is using Russian plants once owned by Western firms, Reuters reported.</li><li>These factories were abandoned by firms such as Volkswagen and Mercedes after Russia invaded Ukraine.</li></ul>Chinese automaker Chery has reportedly started manufacturing vehicles in three Russian plants that once belonged to Western firms, five people familiar with the matter told <a target="_blank" href="https://www.reuters.com/business/autos-transportation/chinas-chery-assembles-cars-russian-plants-vacated-by-western-rivals-2024-10-10/">told Reuters</a>.The use of these factories — previously owned by companies like Volkswagen and Mercedes — shines a light on what is happening to Western assets left behind since Russia's invasion of Ukraine in 2022.These carmakers were among a throng of Western firms left with little choice but to abandon resources in the country, despite decades spent building up supply chains. As multinational companies cut ties with Russia over its military incursion, Moscow introduced <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/russia-putin-economy-seize-assets-western-firms-sanctions-war-exodus-2023-6">legislation allowing for </a><a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-putin-economy-seize-assets-western-firms-sanctions-war-exodus-2023-6">asset seizure</a> and discounted sales.Continuing operations were also made difficult by a mass of sanctions the US and its allies layered on Russia.Volkswagen, for instance, sold its assets to local firm Avilon in 2023 under a <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-putin-economy-seize-assets-western-firms-sanctions-war-exodus-2023-6">government-sanctioned deal</a>. Mercedes <a target="_blank" href="https://www.reuters.com/business/autos-transportation/mercedes-benz-exits-russian-market-with-buyback-option-2023-04-26/">completed its withdrawal</a> that same year, selling shares of its subsidiaries to the local investor Avtodom.Collectively, these deals included two plants that are now producing Chery vehicles over a year later, Reuters reported. One will produce 27,000 vehicles this year, a source told the outlet.Chery's operations add up amid China's efforts to bolster economic ties with Russia.While Washington has worked to ostracize Moscow from the global economy, Chinese firms have filled the gap. Trade between the two countries <a target="_blank" href="https://www.businessinsider.com/china-russia-trade-record-ukraine-war-xi-jinping-vladimir-putin-2024-1">ballooned to $240 billion last year</a>, while Chinese exports into Russia jumped 121% between 2021 and early 2024, according to <a target="_blank" href="https://www.atlanticcouncil.org/blogs/econographics/chinese-exports-have-replaced-the-eu-as-the-lifeline-of-russias-economy/">think tank data</a>.The pattern especially holds true for Chinese car products.Russian demand made China the <a target="_blank" href="https://www.atlanticcouncil.org/blogs/econographics/chinese-exports-have-replaced-the-eu-as-the-lifeline-of-russias-economy/">world's top car exporter at the start of this year</a>, and Beijing is responsible for over half of Russia's car market in terms of sales, Reuters reported.Chery is China's largest exporter and accounts for close to a fifth of Russian passenger car sales. It sold over 200,000 new cars in Russia in 2023, a quadrupling from the previous year.Sources told the outlet that the firm is expanding production into Russia on a bet that demand will remain strong. They told Reuters that Moscow's economy struggles with output and has failed to take advantage of its full production capacity.

A Chinese automaker has taken over Russian plants abandoned by Volkswagen and Mercedes

<ul class="summary-list"><li>Energy traders are betting that Hurricane Milton will spark power outages in Florida.</li><li>US natural gas futures have fallen 8% in the last three days.</li></ul>Energy traders are on high alert for Hurricane Milton and are ramping up bets that the weather event is about to knock out electricity in Florida and surrounding states, leaving power plants idling as demand evaporates.Front-month US natural gas futures have dropped 8% over the last three days, from $2.97 to $2.74 per million British thermal units as of Tuesday morning. It's a sign markets are anticipating a disruption to power plants that could send prices tumbling, despite low gas storage in recent months.The price drop comes as the Southeast prepares for <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-milton-tampa-mayor-castor-evacuation-orders-die-warning-helene-2024-10">Hurricane Milton,</a> which is expected to hit Florida by Wednesday evening. The storm, which was classified as a Category 5 hurricane, is expected to bring severe damage to Florida and the surrounding states just weeks after the destructive Hurricane Helene brought high winds and flooding to the region. Energy traders have leaned more bullish on natural gas in recent weeks before the latest bout of extreme weather. Gas futures have jumped 41% over the last six weeks, partly fueled by record-low natural gas inventories for the last three months, according to <a target="_blank" class="" href="https://www.eia.gov/naturalgas/weekly/#tabs-storage-1">government data on gas storage</a> dating back for the last 27 years.Long bets on natural gas, meanwhile, have climbed to their highest level since June on the New York Mercantile and Intercontinental Exchanges, <a target="_blank" class="" href="https://www.reuters.com/business/energy/us-natgas-prices-drop-4-one-week-low-ahead-hurricane-milton-2024-10-08/">Reuters</a> reported.

Traders are betting Hurricane Milton will knock out electricity and leave power plants idling

Electronics <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> giant <keyword id="19926050" type="General" weightage="20" keywordseo="Foxconn" source="keywords" meta.keywordsubtype="org" meta.entityname="Foxconn" meta.hostid="261" meta.entityid="Foxconn">Foxconn</keyword> has infused about Rs 1,200 crore -- approximately USD 144 million -- into its Karnataka-based Foxconn Hon Hai Technology India Mega Development Pvt Ltd, the company said in a recent regulatory filing. The iPhone contract manufacturer's Singapore-based arm Foxconn Singapore Pte has bought over 120.35 crore stocks of Foxconn Hon Hai Technology India Mega Development Pvt Ltd at Rs 10 per share on August 21. The <keyword id="19896017" type="General" weightage="20" keywordseo="Karnataka" source="keywords">Karnataka</keyword> government in a statement last week said Foxconn is planning to invest Rs 25,000 crore to establish a massive manufacturing <keyword id="20102134" type="General" weightage="20" keywordseo="plant" source="keywords">plant</keyword> near Dodda Ballapur that will create 40,000 jobs. "The unit in Karnataka will soon become the second-largest Foxconn plant after China's unit. It will create 40,000 direct jobs, especially for middle-level educated individuals, and our <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> will not stop here; in the future, we plan to explore other sectors also," Foxconn Chairman Young Liu was quoted as saying in the statement. With the fresh infusion, Foxconn Singapore has invested over Rs 13,800 crore in the Karnataka unit. The Karnataka government has allocated 300 acres to Foxconn for its upcoming mobile manufacturing unit in the state. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Foxconn infuses ₹1,200 crore in Karnataka unit

<ul class="summary-list"><li>Three Mile Island, the site of one of the US' worst nuclear disasters, may soon reopen.</li><li>Constellation have struck a deal to give Microsoft energy to power its AI push.</li></ul>A nuclear plant at the site of <a target="_blank" class="" href="https://www.businessinsider.com/what-happened-three-mile-island-worst-us-nuclear-disaster-2019-8">one of the worst nuclear disasters in US history</a> may soon reopen to provide power for Microsoft's AI push.Constellation Energy has struck a deal to provide Microsoft with nuclear power for the next two decades by bringing part of the Three Mile Island nuclear plant back to service by 2028.A spokesperson for Constellation said it plans to invest $1.6 billion to reopen one of the Pennsylvania plant's two reactors. One of the reactors closed after a system malfunction caused its <a target="_blank" class="" href="https://www.businessinsider.com/chernobyl-fukushima-three-mile-island-nuclear-disasters-2019-6">partial meltdown in 1979</a>. The second reactor remained open after the accident before finally closing in 2019. It is this reactor that will be refurbished and reopened. Tech giants, including Microsoft, are increasingly exploring nuclear energy as a power source for energy-hungry AI data centers.Job postings uploaded last year suggested that Microsoft, which has invested heavily in AI through its partnership with OpenAI, was exploring using <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-plan-to-use-nuclear-energy-power-ai-data-centers-2023-9">nuclear energy</a> to power its data centers.Bobby Hollis, Microsoft's VP for energy, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-20/microsoft-s-ai-power-needs-prompt-revival-of-three-mile-island-nuclear-plant">told Bloomberg</a> that the Three Mile Island reactor will help Microsoft meet its target of being carbon-negative by 2030 and that energy from the site will be used for data center expansion in Pennsylvania and nearby states.The AI models that power chatbots like ChatGPT require <a target="_blank" class="" href="https://www.businessinsider.com/chatgpt-uses-17-thousand-times-more-electricity-than-us-household-2024-3">huge amounts of energy to train and run</a>, supercharging a <a target="_blank" class="" href="https://www.businessinsider.com/ai-data-energy-centers-water-energy-land-2023-10">wave of spending on data centers</a> across the US.That, in turn, has sparked <a target="_blank" href="https://www.businessinsider.com/chatgpt-generative-ai-environment-climate-change-global-emissions-2023-9">concerns over AI's environmental impact</a>, with experts warning that building AI systems requires vast amounts of water and emits tons of carbon dioxide.Microsoft and Constellation did not respond to a request for comment, sent outside normal working hours.

Three Mile Island nuclear plant to reopen — to power Microsoft's AI push

Chennai: The <keyword id="19896558" type="General" weightage="20" keywordseo="Tamil-Nadu" source="keywords">Tamil Nadu</keyword> government on Thursday said home and personal care products maker <keyword id="20297128" type="General" weightage="100" keywordseo="Dabur-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Dabur India" meta.hostid="261" meta.entityid="Dabur India">Dabur India</keyword> will set up a Rs 400 crore manufacturing <keyword id="20102134" type="General" weightage="20" keywordseo="plant" source="keywords">plant</keyword> in the state's Villupuram district, marking the FMCG company's maiden foray into the South. State Industries Minister TRB Rajaa said a pact was inked on Thursday for this purpose. "Welcome to Tamil Nadu, @DaburIndia! In fact, welcome to <keyword id="20037818" type="General" weightage="20" keywordseo="South-India" source="keywords">South India</keyword>! In the presence of Honourable @CMOTamilNadu Thiru. @MKStalin avargal, @Guidance_TN today signed an MoU with <keyword id="20075276" type="General" weightage="20" keywordseo="Dabur" source="keywords">Dabur</keyword> for the establishment of a world-class manufacturing plant, their FIRST EVER in South India, at the SIPCOT Food Park in #Tindivanam, Villupuram district," Rajaa said in a post on 'X.' He said the company will invest Rs 400 crore in this facility which will create over 250 jobs. "More importantly, it will open up new opportunities for farmers in the nearby #Delta region to sell #AgroProduce to be processed in this facility," he added. Dabur's decision to choose Tamil Nadu is a testament to the state's thriving industrial ecosystem and availability of a work-ready labour force, Rajaa added.

Dabur to set up first plant in South India, to invest Rs 400 crore in TN, says Minister Rajaa

A team of researchers has uncovered an array of <keyword id="20447061" type="General" weightage="20" keywordseo="medicinal-plants" source="keywords">medicinal plants</keyword> at <keyword id="22748801" type="General" weightage="20" keywordseo="Brahmayoni-Hill" source="keywords">Brahmayoni Hill</keyword> in <keyword id="27908" type="General" weightage="20" keywordseo="Gaya" source="Orion">Gaya</keyword>, <keyword id="30033" type="General" weightage="20" keywordseo="Bihar" source="Orion">Bihar</keyword>, with Gymnema sylvestre (commonly known as <keyword id="22748802" type="General" weightage="20" keywordseo="Gurmar" source="keywords">Gurmar</keyword>) one of the notable findings of a study published in the International Journal of Creative Research Thoughts (IJCRT). The country's premier research agency, the Council of Scientific and Industrial Research (CSIR), has already utilised this medicinal herb in developing the anti-diabetic drug BGR-34, the researchers noted. Gurmar is known for its unique ability to reduce blood sugar levels due to the presence of gymnemic acid, which works by occupying receptor sites in the outer lining of the intestine, thereby curbing cravings for sweetness. As a result, the intestine absorbs fewer sugar molecules, which results in low blood sugar levels. In addition, the plant contains flavonoids and saponins, which help regulate lipid metabolism. Flavonoids have antioxidant properties, while saponins help lower cholesterol levels, said the Professors from Magadh University, in the study published in the International Journal of Creative Research Thoughts (IJCRT). Gurmar is one of the three medicinal plants found on the Brahmayoni Hill, a treasure trove for natural remedies on which traditional healers have been relying for diverse medicinal herbs for centuries. Gurmar, or Gymnema sylvestre, is particularly known for its anti-diabetic properties. Also, the researchers noted that the "Gurmar plant recently came to light as one of the important ingredient of the medicine BGR-34 which was developed by the CSIR and is marketed by Aimil Pharma as an anti-diabetic ayurvedic formulation. " In 2022, a study by the All India Institute of Medical Sciences (AIIMS), Delhi, also validated that the herbal formulation BGR-34 is effective in reducing obesity along with blood sugar levels. It also improves the body's metabolic system. Dr Sanchit Sharma, Executive Director of Aimil Pharma, said that BGR-34 in addition to Gurmar includes phyto-ingredients such as Daruharidra, Giloy, Vijaysar, Manjishtha, and Fenugreek to manage <keyword id="6359018" type="General" weightage="20" keywordseo="diabetes" source="Orion">diabetes</keyword>. He added that herbal-based Ayurvedic medicines are seeing a surge in popularity, driven by the growing prevalence of non-communicable diseases linked to lifestyle changes and an increasing focus on preventive health. Researchers also noted in their study 'Ethnobotanical research on certain therapeutic plants found on Gaya's Brahmayoni Hill' that, like BGR-34, the first <keyword id="20037810" type="General" weightage="20" keywordseo="diabetes-drug" source="keywords">diabetes drug</keyword> Metformin was also derived from a medicinal plant, Galega. Therefore, they have called for more in-depth research on Gymnema i.e. Gurmar to provide the new generation with another effective therapeutic option. Researchers stressed involving local populations in the cultivation of the most regularly used medicinal herbs found on the hill to prevent their extinction. This collaborative approach would ensure the sustainability and availability of these valuable medicinal resources for future generations, they said.

Researchers discover anti-diabetic herb on Brahmayoni Hill in Gaya, Bihar

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Friday! Looking for a new way to jumpstart your mornings? (Besides reading this newsletter, of course.) Retired Navy SEAL Jocko Willink <a target="_blank" href="https://www.businessinsider.com/former-navy-seal-military-morning-routine-helps-him-in-business-2024-10">shared his daily routine</a> that keeps the now-business owner focused.Speaking of new, we've got a cool tool for you to play around with: AI-powered search. We're using generative AI to help easily find all of our great stories. <a target="_blank" href="https://www.businessinsider.com/">Check it out on our homepage</a>.In today's big story, inside Amazon's internal pitch for turning to nuclear power <a target="_blank" href="https://www.businessinsider.com/amazon-nuclear-power-strategy-ai-2024-10">to meet its growing energy needs</a>.What's on deck:<ul><li>Markets: <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-q3-earnings-elon-musk-profit-margins-guidance-2024-10">Tesla's stock had a monster day</a> following its stellar earnings report.</li><li>Tech: In an exclusive interview, <a target="_blank" href="https://www.businessinsider.com/marc-benioff-salesforce-ceo-interview-microsoft-ai-threatens-crm-lead-2024-10">Marc Benioff bashes Microsoft's Copilot</a>.</li><li>Business: The <a target="_blank" href="https://www.businessinsider.com/what-is-going-on-with-economy-jobs-inflation-election-voting-2024-10">good and bad about the economy</a> less than two weeks from the election.</li></ul>But first, let's power up.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Nuclear needs</h2><div type="image" title="Amazon logo with smoke coming out." height="1250" width="2500" msid="114590276" hostid="261" sizebytes="87984"></div>What's bigger than tech's ambitious plans for generative AI? The amount of energy needed to power it.That's led Big Tech to consider nuclear power to address its skyrocketing energy requirements.Business Insider's Eugene Kim has a report on <a target="_blank" href="https://www.businessinsider.com/amazon-nuclear-power-strategy-ai-2024-10">how Amazon navigates its nuclear ambitions</a>. In a signal of how serious Amazon is about going nuclear, the company pitched the energy source to CEO Andy Jassy this June, according to a company document he obtained.Since then, Amazon has led a $500 million financing round for a company developing modular nuclear reactors. It also agreed to purchase power from Talen Energy's nuclear-powered data center in March.And it's not alone.Microsoft and Google have invested in the sector, and OpenAI CEO Sam Altman backed a nuclear reactor startup.The stakes are high for tech players to get energy. Eugene previously reported on how Amazon's dreams of building a data center empire <a target="_blank" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">face the realities of electricity, water, and labor constraints</a>.Should those data center efforts continue to struggle, companies' big bets on generative AI could also falter.<div type="image" title="Protesters at Three Mile Island." height="470" width="700" msid="114590280" hostid="261" sizebytes="35920"></div>A tech-nuclear relationship is mutually beneficial.Tech companies need cost-efficient, reliable energy sources <a target="_blank" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10">that won't increase their carbon footprint</a>, writes BI's Hasan Chowdhury. Nuclear power ticks that box better than other clean energy options like solar or wind.Nuclear power, meanwhile, <a target="_blank" href="https://www.businessinsider.com/data-centers-amazon-ai-nuclear-power-grid-2024-5">is an industry in desperate need of some love</a>, BI's Daniel Geiger and Ellen Thomas previously reported. With at least one commercial nuclear plant closing every year since 2013, the sector has welcomed the interest."We're seeing customers approach us at a rate that we haven't seen in my history with this industry," Jim Burke, CEO of nuclear owner Vistra, said back in March.Naturally, there are skeptics. A byproduct of nuclear power is radioactive waste. The transportation and storage of that remains a hot-button issue. High-profile incidents involving power plants like Chernobyl and Fukushima also drew criticism and stoked fears around the globe.Big Tech hasn't shied away from it. In September, Microsoft cut a deal with Constellation Energy to get power from <a target="_blank" href="https://www.businessinsider.com/three-mile-island-nuclear-plant-reopens-power-microsoft-ai-push-2024-9">part of the Three Mile Island nuclear plant</a>, home to the worst commercial nuclear accident in US history.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Exclusive: Maven Clinic is swapping out its finance chiefs <a target="_blank" href="https://www.businessinsider.com/mavens-cfo-out-as-womens-health-startup-gets-fresh-funding-2024-10">as the women's health unicorn looks ahead to an IPO</a>.</li><li>The 'whale' placing huge bets on a Trump win is a French national with <a target="_blank" href="https://www.businessinsider.com/polymarket-donald-trump-betting-odds-whale-french-trader-harris-polls-2024-10">extensive trading experience</a>.</li><li>The New York Liberty celebrated its first-ever championship and record-breaking WNBA season <a target="_blank" href="https://www.businessinsider.com/new-york-liberty-wnba-championship-parade-photos-2024-10">with a jubilant party</a>.</li><li>Former Avenue employee accused of 'blackmailing' billionaire Marc Lasry countersues, claiming sexual harassment <a target="_blank" href="https://www.businessinsider.com/billionaire-marc-lasry-accused-of-sexual-harassment-in-countersuit-2024-10">including forced kissing, groping, and comments about her body</a>.</li><li>Putin once asked Elon Musk to not activate Starlink over Taiwan as a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/putin-elon-musk-starlink-taiwan-china-favor-xi-jinping-report-2024-10">favor to Xi Jinping</a>: report.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Name plates on blue background" height="900" width="1200" msid="114590272" hostid="261" sizebytes="60254"></div><ol><li>Welcome to the world of hedge funds, where job titles are made up and don't matter. Unlike its Wall Street peers, the $4.3 trillion hedge-fund industry <a target="_blank" href="https://www.businessinsider.com/an-inside-look-at-hedge-fund-job-titles-2024-10">has little uniformity regarding titles</a>. The naming free-for-all means employees and hiring managers can take advantage of using trumped-up titles.</li><li>Tesla's stock just went from 0 to 60. Shares of the EV giant <a target="_blank" href="https://markets.businessinsider.com/news/stocks/elon-musk-net-worth-gains-tesla-stock-price-earnings-tsla-2024-10">finished the day up almost 22%</a> after Wednesday's strong earnings report. Elon Musk added $30 billion to his net worth from the spike.</li><li>The election's biggest risk to the market isn't who wins but how long it takes to decide. BlackRock Investment Institute head Jean Boivin said <a target="_blank" href="https://markets.businessinsider.com/news/stocks/us-presidential-election-trump-harris-outlook-volatility-stock-sell-off-2024-10">a contested election would be bad news for investors</a>. He's not alone in his concerns, as others have pointed to short-term volatility when results were delayed in 2020 and 2000.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Salesforce CEO Marc Benioff." height="1333" width="2000" msid="114590275" hostid="261" sizebytes="41956"></div><ol><li>Marc Benioff isn't buying Microsoft's AI hype. In an exclusive interview with BI, <a target="_blank" href="https://www.businessinsider.com/marc-benioff-salesforce-ceo-interview-microsoft-ai-threatens-crm-lead-2024-10">the Salesforce CEO bashed Microsoft's AI Copilot</a>, calling it inaccurate and dubbing the tool "Clippy 2.0." Benioff's diss came after Microsoft recently announced new Dynamics 365 AI agents, directly competing with a new Salesforce product available today.</li><li>Keep your eyes on these 13 creator-economy startups. New startups are finding ways to break into an industry dominated by Big Tech. BI asked venture capitalists which new creator companies they felt showed promise. From advertising platforms to AI tech companies, <a target="_blank" href="https://www.businessinsider.com/promising-creator-economy-influencer-marketing-startups-per-top-vcs-2024-10">here's the startups to watch</a>.</li><li>A longtime safety researcher left OpenAI. Miles Brundage, who advised OpenAI leadership on safety and policy, <a target="_blank" href="https://www.businessinsider.com/another-safety-researcher-is-leaving-openai-2024-10">announced his departure</a> on X. The AGI Readiness team he oversaw will also be disbanded. Brundage's exit is the latest in a string of high-profile departures from the startup.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Ben Franklin flag on red background" height="900" width="1200" msid="114590270" hostid="261" sizebytes="100740"></div><ol><li>Here's what's going on with the economy ahead of the election. For many Americans, the state of the economy is top of mind heading into the polls. The good news? <a target="_blank" href="https://www.businessinsider.com/what-is-going-on-with-economy-jobs-inflation-election-voting-2024-10">It's doing broadly well</a>. The unemployment rate remains relatively low, and inflation has slowed. Still, other not-so-great data points have voters feeling pessimistic.</li><li>The housing crisis, as explained by two swing states. Renters and homeowners in swing states have been disproportionately affected by rising housing costs. Two states, Pennsylvania and Arizona, exemplify the problem. While Arizona's population is surging, Pennsylvania's is shrinking — <a target="_blank" href="https://www.businessinsider.com/arizona-pennsylvania-swing-state-home-prices-surge-housing-shortage-2024-10">and neither can build enough homes</a>.</li><li>Behind the scenes of Emma Tucker's Wall Street Journal makeover. Tucker joined the legacy outlet in 2023 with a focus on diversifying and growing the paper's subscriber base. So far, it seems to be working, with subscriptions increasing by 11% over the past year. <a target="_blank" href="https://www.businessinsider.com/wall-street-journal-editor-emma-tucker-interview-peter-kafka-2024-10">She spoke with BI about how she's remaking the paper</a> — including reorganizing and cutting staff.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>Jensen Huang says <a target="_blank" href="https://www.businessinsider.com/jensen-huang-tsmc-helped-fix-design-flaw-with-nvidias-blackwell-2024-10">a design flaw with Nvidia's Blackwell chips has been fixed</a> — with TSMC's help.</li><li>Why some CEOs are <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-bill-gates-ceo-avoid-criticizing-trump-2024-10">afraid of publicly criticizing Trump</a>.</li><li>Norway wants to ban under-15s from social media, and <a target="_blank" href="https://www.businessinsider.com/norway-ban-social-media-kids-under-15-backfire-2024-10">expects an 'uphill battle.'</a></li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Former Abercrombie &amp; Fitch CEO Mike Jeffries will be arraigned on sex trafficking charges in federal court.</li><li>SpaceX's Crew-8 mission crew returns to Earth today.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London.

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