A new Goldman Sachs Alternatives report warns that agentic AI systems require 60x to 130x more energy than standard chat models, pointing to a projected 45 GW U.S. power shortfall by 2028 and a 600,000-worker skilled-trades labor gap as the real bottlenecks to AI scaling.
SK Innovation reported Q1 2026 consolidated operating profit of KRW 2.162 trillion, returning to profitability from losses in the prior comparable period, driven by recovery across its EV battery (SK On), lubricants, and chemicals businesses. The turnaround reflects easing battery pricing pressure and elevated energy margins during the Iran conflict cycle.
Saudi Aramco reported Q1 2026 adjusted net income of $33.6 billion, beating the analyst consensus of $31.2 billion by 7.7% and rising 26% year-over-year. CEO Amin Nasser credited the East-West Pipeline — now at maximum 7.0 million bpd capacity — for bypassing the Hormuz blockade and delivering crude to locked-out customers.
Iran's Army spokesperson warned on May 10 that ships from countries joining U.S. Iran sanctions will be barred from the Strait of Hormuz. Brent crude closed Friday at $101.29 per barrel, up 95% in Q1, with cumulative supply losses approaching one billion barrels.
This was shaping up to be the first statewide data-center moratorium in the U.S. TechCrunch reports Maine Governor Janet Mills vetoed a bill that would have paused new data centers until November 1, 2027 and created a 13-person council to study future construction.
Shell $SHEL agreed to buy ARC Resources $ARX for $16.4B, adding about 370,000 boe/d and roughly 2 billion boe of reserves. The cash-and-stock deal is set to lift Shell's production CAGR through 2030 to 4% and add about $250M of annualized synergies within a year of closing.
X-energy $XE jumped 27% in its Nasdaq debut, closing at $29.20 after opening at $30.11. The move followed an upsized IPO priced at $23 per share, above the marketed $16 to $19 range, with proceeds of about $1.02B as AI-driven power demand pulled nuclear names into public-market focus.
Brent crude fell 9.1% to $90.38 on April 17 after Iran said the Strait of Hormuz was open, while the S&P 500 rose 1.2% to a record. On April 18, Iran said control of the strait had reverted to strict military management, and AP reported that UKMTO said IRGC gunboats fired on a tanker.
NVIDIA and Emerald AI said on March 23, 2026 that they are working with AES, Constellation, Invenergy, NextEra Energy, Nscale Energy & Power, and Vistra on power-flexible AI factories. The concept combines Vera Rubin DSX infrastructure with DSX Flex so AI campuses can connect faster and behave more like grid assets than passive loads.
Meta said on January 9, 2026 that new agreements with Vistra, TerraPower, and Oklo could support up to 6.6 GW of new and existing clean power by 2035. The company tied the effort directly to the energy demands of its growing AI infrastructure, including the Prometheus supercluster in Ohio.
OpenAI and Pacific Northwest National Laboratory announced a public-sector AI pilot focused on permit review for clean energy projects. The program starts in Washington state and aims to reduce timelines from multiple years to under one year.
OpenAI CEO Sam Altman responded to criticism over AI training energy costs by drawing a parallel to human education: becoming intelligent also requires 20 years and all the food energy consumed in that time.