Google turns to solar to offset soaring AI emissions

Google turns to solar to offset soaring AI emissions

Alphabet [GOOGL] has agreed to purchase the full initial output of the 1.6GW Steel River Energy Center in Arkansas under a virtual power purchase agreement. The project will eventually expand to 2.5GW of solar capacity and 2.9GWh of battery storage. Google’s electricity-related emissions continue to climb alongside artificial intelligence-driven (AI) data centre growth: the firm’s grid-based emissions from electricity use rose 37% last year, according to the Financial Times.

China car exports hit record high

Vehicle exports reached a record 1.06m units in June, up 71.2% year-on-year, putting China on track to export more than 10m vehicles in 2026 as domestic demand weakens. The export boom, led by competitively priced electric vehicles with advanced software, is intensifying pressure on global automakers including BYD [BYDDY], while increasing competitive challenges for manufacturers such as Toyota [TM], Hyundai Motor Company [HYMTF] and Volkswagen Group [VWAGY].

Massive layoffs incoming at Volkswagen 

In a perhaps not-unrelated development, Volkswagen has announced it is considering cutting up to 100,000 jobs globally. CEO Oliver Blume said the company’s costs are around 20% higher than those of competitors. The group’s operating profit has fallen from €22.6bn in 2023 to €8.9bn in 2025, as a 26% decline in first-half sales in China eroded one of its most profitable markets, the BBC reported.

Netflix seeks cure for content overload

Once the top player in a now-crowded streaming space, Netflix [NFLX] is responding to flagging engagement with a pivot to new business lines, among them a cheaper, ad-funded tier, live sporting events and streaming options. Ahead of its Q2 earnings, all eyes are fixed on the stock for signs this pivot is bearing fruit. Aureon investigates what Wall Street expects from the report as Netflix steps into a new, more uncertain era.

Are wafers the next AI bottleneck?

Micron Technology [MU] has taken a stake in Taiwan’s GlobalWafers [6488:TW] to help finance its new wafer plant in Sherman, Texas, as part of a broader $3bn investment to strengthen the US semiconductor supply chain. In a note seen by Seeking Alpha, Wedbush analyst Matt Bryson said the investment could signal that “MU views wafer supply as another possible hardware bottleneck, a result that makes sense given the likely sharp increase in wafer requirements as memory and logic investments scale into 2028, 2029 and 2030”.

Nvidia limits Asian customers

The chip giant [NVDA] has more than halved the number of authorised AI chip buyers across Asia after introducing a stricter customer “white list” aimed at preventing advanced processors from being diverted to China. The enhanced compliance checks, focused on customers in Singapore, Malaysia and Japan, have disproportionately affected AI-focused neocloud providers and reflect broader US efforts to tighten enforcement of export controls on advanced AI hardware. 

The three stocks with the most potential upside

A rollercoaster ride for tech stocks in recent weeks has left investors questioning whether the AI trade is losing steam. It will also have some wondering whether the pullback has created a buying opportunity. According to data compiled by Sherwood News, the three stocks (excluding crypto stocks) with the most upside to the average analyst price target as of their 7 July close were CoreWeave [CRWV], Intuit [INTU] and Micron. Aureon unpacks the case for and against each stock.