How much electricity does the growing artificial intelligence market need? Well it's enough that Meta is seeking federal approval to enter the electricity trading business. By becoming a trader in wholesale power markets, Meta hopes to make long-term commitments to purchase electricity from emerging plants and explore resale options. Meta's head of global energy told Bloomberg that, without active involvement from major consumers like Meta, the expansion of power generation isn't happening fast enough.
The Department of War is reissuing a tender that was postponed earlier this year for up to $500 million worth of cobalt by the end of the month, with an award expected in early February 2026. The Defense Logistics Agency first sought offers in mid-August for up to 7,500 tons of cobalt over the next five years, but in mid-October cancelled the tender due to "outstanding issues with the Statement of Work" after interested parties missed several deadlines.
And as the US continues to work to build its own minerals supply chains and alliances, China is making its own moves. At the Group of 20 leaders' summit in South Africa, China pitched an international alliance for the development of rare earths, with at least 19 nations, including Cambodia, Nigeria, Zimbabwe and others participating. Few additional details on the alliance were available.
