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Industry

U.S. midterm election nears as Korean battery makers face crossroads over AMPC tax credit defence line

With the Nov. 3 U.S. midterm election approaching, Korean battery makers face renewed political bargaining over tax credits. EV purchase subsidies have already been abolished, while the advanced manufacturing production credit, or AMPC, has been defended at a 25 percent credit through 2032. Companies with large North American bases are reshaping operations to withstand policy shifts, including moving from joint ventures to wholly owned plants and shifting production toward energy storage systems.

Crypto

U.S. Clarity Act vote nears as crypto industry and banks clash in last-minute lobbying

With the U.S. Senate set to hold a procedural vote on the Clarity Act on Sept. 15, lobbying by the cryptocurrency industry and regional banks is spreading to senators’ home states. Both sides used the August recess to press their case through local events, meetings, op-eds, calls, emails and advertising. The bill would set federal rules for digital assets and split oversight between the SEC and CFTC, with stablecoin reward provisions a key flashpoint.

AI & Enterprise

AI data centres\' water use surges, topping California cities\' supply in 7 U.S. states

Data centres in seven major U.S. states may withdraw more freshwater each year than the total urban water supply used across California’s cities when cooling and power generation are included, an analysis showed. Non-profit think tank Ceres estimated annual withdrawals of about 10.4 million acre-feet. The report cautioned the figure measures withdrawals, not water ultimately consumed. Ceres also projected power generation could account for 72 percent of data centre water consumption by 2030.