AI Power Race Shifts Toward Equipment Makers

Mamdani Faces Setbacks as Grocery Plan Advances

Wisconsin Socialist Falls Short as Moderates Hold Ground

Intel Taps Investors to Bring Advanced Chipmaking Home

Former NBA Players Test WNBA Eligibility Rules

AI Power Race Shifts Toward Equipment Makers

Investors are shifting their bets in the race to supply electricity for artificial intelligence from power plant owners to companies that make turbines and other equipment. Shares of Constellation Energy, Vistra and NRG Energy have fallen about 10% to 25% this year, while GE Vernova and Caterpillar have risen roughly 50% and turbine-blade maker Howmet Aerospace has gained nearly 40%. Solaris Energy, which provides power away from the electric grid for data centers, is up close to 30%. The change follows new rules in Texas and the mid-Atlantic that favor building power sources and require large users to bear more of the cost, weakening the assumption that owners of existing plants would benefit most from rising demand. The split matters because companies selling the equipment needed to add electricity now appear better positioned than plant owners whose returns are increasingly shaped by regulators.

WSJ

Mamdani Faces Setbacks as Grocery Plan Advances

New York City Mayor Zohran Mamdani is facing growing criticism after an early stretch that included a new tax on wealthy residents and successful endorsements of three progressive congressional candidates. A judge temporarily paused his tax on luxury second homes after residents sued over its rollout, though the city appealed and automatically put that order on hold. His relationship with the City Council has also frayed as some New Yorkers object to his rhetoric about Israel and his treatment of the business community. At the same time, Mamdani has advanced his campaign promise for city-owned grocery stores by selecting sites in Manhattan and the Bronx, starting a search for private operators and promising discounts of about 30% on produce, meat and other staples. The first store is expected to open in the Bronx near the end of 2027, giving the administration a tangible affordability initiative as its political and legal setbacks mount.

WSJ / AP

Wisconsin Socialist Falls Short as Moderates Hold Ground

Milwaukee County Executive David Crowley narrowly defeated democratic socialist state Rep. Francesca Hong in Wisconsin's Democratic primary for governor, interrupting recent momentum for the party's left wing. Crowley led by roughly half a percentage point after dropping out of the race in July and then returning with Gov. Tony Evers' endorsement when Lt. Gov. Sara Rodriguez withdrew amid a campaign finance controversy. Crowley, who would become Wisconsin's first Black governor, will face Trump-endorsed Republican U.S. Rep. Tom Tiffany in November. In neighboring Minnesota, U.S. Sen. Amy Klobuchar easily won the Democratic-Farmer-Labor nomination for governor and will face Republican state House Speaker Lisa Demuth, ensuring the state will elect its first woman governor. The outcomes complicated the idea of a broad progressive shift among Democratic primary voters.

Axios / AP / MPR News

Intel Taps Investors to Bring Advanced Chipmaking Home

Intel is raising $20 billion from investors to build U.S. factories and advance its next chipmaking process as Washington pushes to bring more semiconductor production home. The company priced about 211 million new shares at $95 each, increasing the sale from a planned $15 billion after investors placed more than $100 billion in orders. Intel expects about $19.7 billion after expenses and says the money will support factory construction, its coming 14A manufacturing process and its business making chips for outside customers. The offering is Intel's first public sale of new shares since its 1971 stock-market debut, reversing a long period in which the company spent more than $150 billion buying back its own stock. The financing carries strategic weight because much of the world's most advanced chip production is concentrated in Taiwan, while Intel plans leading-edge manufacturing in Arizona and Ohio as part of a broader effort to reduce U.S. reliance on overseas plants.

Intel / NIST / Commerce Department

Former NBA Players Test WNBA Eligibility Rules

Former NBA players Enes Kanter Freedom and Royce White said they intend to enter the 2027 WNBA draft while invoking the league's eligibility language and the debate over transgender participation in women's sports. Freedom, an 11-season NBA veteran, announced his plan on social media, and White, a 2012 first-round pick who appeared in three NBA games, followed during a Fox News interview in which he said he sometimes identifies as a transgender woman for professional basketball. Both cast their announcements as demands that the league apply its rules equally, turning their proposed entries into a challenge to the WNBA's standards rather than a conventional return to basketball. The league's labor agreement says only women may play but does not define the term in that provision or state specific standards for transgender applicants, according to AS USA. The WNBA has not confirmed either player as eligible, and a league memo said team presidents and general managers would discuss transgender participation without announcing a formal public policy.

AS USA

AUGUST 12, 2000: RUSSIAN NUCLEAR SUBMARINE KURSK SINKS, KILLING 118 CREW

The Kursk, then the world’s largest attack submarine, suffered two explosions during naval war games in the Barents Sea and plunged to the seafloor with 118 sailors aboard. Russia initially rejected foreign rescue help and later raised the sub in a $100 million recovery operation, but the destroyed front hull left the exact cause of the disaster unresolved.

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Sources

1. WSJ
2. WSJ / AP
3. Axios / AP / MPR News
4. Intel / NIST / Commerce Department
5. AS USA: Draft Announcements / AS USA: WNBA Review