EconomyGovernment

Government Shutdown Costing U.S. Economy $15 Billion Daily, Treasury Secretary Warns

The ongoing federal government shutdown is reportedly costing the U.S. economy approximately $15 billion per day in lost output, according to Treasury Secretary Scott Bessent. The Treasury chief warned the shutdown is beginning to “cut into muscle” of the economy despite what he described as sustainable investment growth in areas including artificial intelligence.

Shutdown’s Economic Impact Reaches $15 Billion Daily

The two-week-old federal government shutdown is costing the U.S. economy approximately $15 billion daily in lost output, Treasury Secretary Scott Bessent stated Wednesday. According to reports from Washington, Bessent put this specific estimate on the economic toll while urging Democratic lawmakers to “be heroes” and side with Republicans to end the impasse.

AIEnergyTechnology

Oracle Secures 2.3 GW Modular Gas Power Fleet From VoltaGrid for Texas AI Data Centers

Oracle is partnering with VoltaGrid to deploy 2.3 GW of modular natural gas generation across Texas data center sites. The collaboration aims to address AI workloads’ unique power demands with fast-response generation that requires zero battery storage.

Major Power Partnership for AI Infrastructure

Texas-based power specialist VoltaGrid will deploy 2,300 MW of modular, ultra-low-emissions natural gas generation to support Oracle Cloud Infrastructure’s artificial intelligence data centers across Texas, according to reports announced October 15. The collaboration combines VoltaGrid’s proprietary modular power platform with firm natural gas supplied by Energy Transfer’s 140,000-mile pipeline and storage network to deliver dependable, on-demand generation for Oracle’s expanding AI infrastructure.

SoftwareTechnology

Valve Developer Boosts Legacy AMD Hawaii GPU Support With Open-Source Driver Updates

A Valve developer has contributed significant improvements to the open-source AMDVLK driver, specifically targeting 12-year-old Hawaii series GPUs. These updates come as the official AMDVLK driver hasn’t seen a new release in four months. The contributions demonstrate ongoing commitment to legacy hardware support within the Linux ecosystem.

Open-Source Driver Improvements for Aging GPUs

A Valve developer has reportedly contributed substantial fixes to the open-source AMDVLK driver, specifically enhancing support for 12-year-old Hawaii series GPUs according to sources familiar with the development. These improvements come at a time when the official AMDVLK driver release has been stagnant for four months, with the last update occurring in early 2024. Analysts suggest this demonstrates the ongoing importance of community contributions in the Linux ecosystem, particularly for maintaining legacy hardware support.

SoftwareTechnology

PyTorch 2.9 Expands Hardware Support with AMD ROCm and Intel XPU Installation Improvements

The latest PyTorch 2.9 release significantly improves installation support for AMD ROCm and Intel XPU hardware platforms through expanded wheel variant implementation. This update builds upon previous NVIDIA CUDA support to deliver automated platform detection for simplified package installation. The release also introduces symmetric memory for multi-GPU programming and FlexAttention support for Intel GPUs.

PyTorch 2.9 Released With Enhanced Hardware Support

PyTorch, the popular open-source machine learning framework, has released version 2.9 ahead of its annual conference in San Francisco, according to reports from the development team. The latest iteration brings significant improvements to hardware compatibility and installation processes, particularly for AMD and Intel platforms, sources indicate.

GovernmentPolicy

Trump Administration Implements New Federal Hiring Restrictions After Freeze Expires

The Trump administration has replaced its federal hiring freeze with new restrictions requiring political appointee approval for government positions. Critics suggest the changes could politicize the federal workforce while the administration claims they ensure accountability in hiring practices.

New Federal Hiring Restrictions Implemented

President Donald Trump has issued a new executive order replacing the expired federal hiring freeze with permanent restrictions that require political appointee approval for most government hiring positions. According to reports, the order came into effect Wednesday as the administration’s initial hiring freeze, implemented on January 20, reached its expiration date.

PolicyTrade

Trump Announces Modi’s Pledge to Halt Russian Oil Purchases Amid Trade Talks

Former President Donald Trump revealed that Indian Prime Minister Narendra Modi assured him India would cease buying Russian oil. This development could break the stalemate in trade negotiations and provide tariff relief for Indian exports facing 50% duties.

Trump Announces Modi’s Commitment on Russian Oil

Former President Donald Trump told reporters on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop purchasing Russian oil, according to reports. The announcement came during a press briefing where Trump revealed that Modi made this commitment during a phone conversation earlier that day.

GovernmentStartups

Pentagon Adopts Silicon Valley’s ‘Fail Fast’ Approach to Modernize Defense Operations

The Department of Defense is undergoing a Silicon Valley-style transformation, embracing “fail fast” principles and artificial intelligence to streamline its trillion-dollar operations. Former Pentagon officials reveal how AI and new mindsets are revolutionizing military intelligence and procurement processes, with technology from Project Maven being deployed in recent conflicts.

Silicon Valley Mentality Reshapes Pentagon Operations

The Pentagon is undergoing a significant transformation, adopting Silicon Valley’s famous “fail fast” approach to modernize its massive defense operations, according to reports from the Fortune Most Powerful Women conference. The Department of Defense, previously known as the Department of War, is implementing artificial intelligence systems that are fundamentally changing how the United States approaches global conflicts, sources indicate.

EnergyPolicy

US Nuclear Waste Stranded in Temporary Storage as Permanent Solution Remains Elusive

Nearly 80 years of accumulated nuclear waste remains stranded in temporary storage sites across the United States without a permanent disposal solution. Experts point to deep geological repositories as the answer, but political and technical challenges have delayed implementation despite Finland’s progress toward operational disposal.

Nuclear Waste Storage Crisis Deepens

Decades of spent nuclear fuel from both power generation and defense applications remains stranded in what analysts describe as temporary storage solutions across the United States, according to recent reports. Sources indicate that nearly 80 years of accumulated radioactive material continues to be housed in secured but potentially vulnerable facilities while permanent disposal options remain stalled.

PolicyTrade

Trump Claims Modi Agrees to Halt Russian Oil Purchases Amid Ukraine War Pressure

Former President Donald Trump has reportedly secured assurances from Indian Prime Minister Narendra Modi that India will cease Russian oil imports “within a short period of time.” This development comes as Western nations intensify economic pressure on Russia over its ongoing conflict in Ukraine, with oil exports being a crucial revenue source for Moscow.

Trump Announces Modi’s Commitment to End Russian Oil Imports

According to reports from international media, former President Donald Trump has stated that Indian Prime Minister Narendra Modi has agreed to stop purchasing Russian oil as part of broader efforts to increase economic pressure on the Kremlin. Sources indicate Trump told reporters he received personal assurances from Modi that India would halt its purchases “within a short period of time,” which he characterized as “a big stop” in their discussions.

BusinessTechnology

Tim Cook Reaffirms Apple’s China Investment Commitment Amid Trade Tensions

During his latest China visit, Apple CEO Tim Cook met with government officials and promised continued investment in the country. The commitment comes as Apple announces new iPhone Air preorders and faces ongoing US-China trade tensions.

Apple CEO Reaffirms China Commitment During Beijing Visit

Apple CEO Tim Cook has reportedly pledged to maintain the company’s investment in China during meetings with Chinese officials this week, according to official summaries of the discussions. The commitment comes amid ongoing trade tensions between Washington and Beijing and follows months of supply chain adjustments by the technology giant.