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Google invests $1B in North Carolina data center expansion

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Google invests $1B in North Carolina data center expansion

Google on Friday announced it will invest $1 billion within the next two years to expand its data center infrastructure in North Carolina.

The investment will focus on the expansion of a data center facility in Lenoir, North Carolina. Google has had a presence in the area for 15 years between the data center and an office in Durham.

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The Google data center in Lenoir helps support Google services including Maps, Photos, Search, Workspace, YouTube and more, according to the announcement.

“Google’s latest investment in the City of Lenoir and Caldwell County underscores a deep commitment to North Carolina’s continued growth and success,” said City of Lenoir Mayor Joseph Gibbons. “This funding will enhance our workforce, expand economic development opportunities, and ensure North Carolina remains a leader in innovation.”

MAJOR TECH COMPANIES BACK TRUMP PLEDGE TO PAY MORE FOR DATA CENTER ELECTRICITY AHEAD OF SIGNING

ASHBURN, VA - MAY 9: People walk through the hallways at Equinix Data Center in Ashburn, Virginia, on May 9, 2024. (Amanda Andrade-Rhoades for The Washington Post via Getty Images)

Data centers are an integral part of the modern Internet and have become increasingly prominent amid the rise of AI. (Amanda Andrade-Rhoades for The Washington Post via Getty Images)

Caldwell County Commission Chairman Randy Church said that investments like this one from Google are “critical for strengthening our community” and added that it “will bring new opportunities for local workers and help drive long-term economic success in our region.”

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In addition to Google’s data center investment, the company announced it will provide $2 million to an Energy Impact Fund in collaboration with Blue Ridge Community Action, Blue Ridge Energy and Advanced Energy.

AMERICANS HIT WITH SOARING ELECTRICITY BILLS AS PRICE HIKES OUTPACE INFLATION NATIONWIDE

Google headquarters in the state of California

Google has had a presence in Lenoir, North Carolina, and in Durham for 15 years, the announcement noted. (Marlena Sloss/Bloomberg via Getty Images)

The fund will help scale and accelerate energy initiatives in Caldwell County and focus on energy affordability, weatherization upgrades and energy efficiency for both low- to moderate-income households and K-12 schools. Rising electricity costs are driven in part by increased demand from data centers, particularly amid the artificial intelligence (AI) boom.

Google’s funding will also help expand existing community solar programs, reducing the energy burden and promoting renewable energy access for residents of the county.

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Jon Jacob, director of marketing for Blue Ridge Energy, said that the support from Google is a “perfect reflection of our cooperative spirit: members helping members, supported by a partner who shares our commitment to making life better for our local community.”

DATA CENTERS IN OUTER SPACE EMERGE AS SOLUTION TO AI’S MASSIVE ENERGY REQUIREMENTS

Ticker Security Last Change Change %
GOOGL ALPHABET INC. 302.28 -1.27 -0.42%

Other community investments by Google included in the announcement include a three-year, $270,000 grant to Communities In Schools of Caldwell County (CISCC).

The funds will establish the CISCC Workforce Development & Digital Equity Fund, which will work with the local schools and Caldwell Community College & Technical Institute (CCC&TI) to reduce technological and financial barriers for students pursuing vocational training through 2027.

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Mark Poarch, president of CCC&TI, said that the collaboration “ensures that local students have the resources they need to transition seamlessly into the workforce. This fund is more than a grant; it is an investment in the long-term resilience and economic vitality of our entire community.”

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Additionally, investments also include a $100,000 donation to the City of Lenoir to renovate the city’s historic high school.

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Form 4 Bank of America Corp For: 14 March

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Form 4 Bank of America Corp For: 14 March

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US, Japan agree on their roles in potential nuclear power project, Westinghouse says

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US, Japan agree on their roles in potential nuclear power project, Westinghouse says


US, Japan agree on their roles in potential nuclear power project, Westinghouse says

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Carnival Adventure Crew Members Filmed Denying Entry to Australian Officials

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Carnival Adventure
Carnival Adventure
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Carnival Cruise Line members were caught on camera denying entry to Australian government and union officials to the ship Adventure.

The officials were trying to enter the ship, which was docked in Sydney, to investigate reports of “seafarer health and safety issues.”

Carnival Crew Members Refused Entry to Officials

According to CruiseHive, the video, which has been shared on social media, showed officials showing their IDs and insisting that they be allowed to board the ship.

These officials are from SafeWork NSW and the Maritime Union of Australia (MUA).

“That’s my badge, I’m a government official,” a SafeWork employee was caught on camera explaining.

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The man behind the camera was also caught saying, “So, you’re refusing the government official’s access.”

Will Carnival Be Fined for Refusing Entry?

TravelPulse notes that the cruise line could be fined if it is found liable for rejecting a lawful inspection.

Officials from SafeWork and MUA have insisted that they had the necessary permits to conduct investigations.

According to TravelPulse, Carnival pushed back on this claim and told local news outlets that only the Australian Maritime Safety Authority had permission to board.

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Form 4 CoreWeave Inc For: 13 March

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Form 4 CoreWeave Inc For: 13 March

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Chancellor to offer support over rising heating oil costs

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Chancellor to offer support over rising heating oil costs

Rachel Reeves says the Treasury is also looking at “different options” to help households most vulnerable to soaring energy bills.

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Form 4 Microsoft Corporation For: 13 March

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Form 4 Microsoft Corporation For: 13 March

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NexPoint residential officer McGraner buys $26,140 in shares

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NexPoint residential officer McGraner buys $26,140 in shares

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Lee Eugene I Jr buys Portillo’s (PTLO) shares worth $1.48 million

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Lee Eugene I Jr buys Portillo’s (PTLO) shares worth $1.48 million

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BuzzFeed Issues Going Concern Warning, Lacks Liquidity for Coming Year

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BuzzFeed Issues Going Concern Warning, Lacks Liquidity for Coming Year

BuzzFeed warned that it lacks the resources to fund its cash obligations during the next year without a plan to address its capital needs.

The digital media company has broadly operated at a loss since its conception and is burdened by legacy commitments, Chief Financial Officer Matt Omer said Thursday. The company has engaged in strategic conversations to unlock the value of its assets and address liquidity issues, and is exploring strategic options to position itself for profitability, he said.

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Slow Growth Keeps Me On The Sidelines For First Hawaiian Stock (NASDAQ:FHB)

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Slow Growth Keeps Me On The Sidelines For First Hawaiian Stock (NASDAQ:FHB)

This article was written by

I have been involved in the financial world for over 25 years with experience as an advisor, teacher, and writer. I am a full believer in the free-market system and that financial markets are efficient with most stocks reflecting their real current value. The best opportunities for profits on individual stocks come from stocks that are less-widely followed by the average investor or from stocks that may not accurately reflect the opportunities that currently exist in their markets.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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