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The U.S. Department of Energy has struck a $1 billion deal with Advanced Micro Systems (AMD) to build two supercomputers that have unprecedented power to supercharge scientific advances ranging from nuclear power to developing cancer treatments. The partnership, first reported by Reuters on Monday, will ensure the U.S. government has the necessary computing power to accommodate enormous amounts of dataand could deliver about three times the AI capacity of current supercomputers. The artificial intelligence-powered supercomputers could be deployed for advancing nuclear power and replicating fusionthe process that fuels the sun and creates massive amounts of energy. Were going to get just massively faster progress using the computation from these AI systems that I believe will have practical pathways to harness fusion energy in the next two or three years, Energy Secretary Chris Wright told Reuters. Shares of AMD rose nearly 1% in midday trading on Monday. The semiconductor makers stock has more than doubled in value this year, and the company recently forged a partnership to supply its chips to OpenAI to build out AI infrastructure. Neither the Department of Energy nor AMD responded immediately to a request for comment from Fast Company. SUPERCOMPUTER TIMELINES The forthcoming supercomputers could be used to further advancements in technologies for defense and national security, including helping the U.S. government to manage its arsenal of nuclear weapons, along with accelerating drug discovery for the treatment of cancers, Wright told Reuters. My hope is, in the next five or eight years, we will turn most cancers, many of which today are ultimate death sentences, into manageable conditions. The first of two supercomputers, Lux, could be up and running within the next six months and will be based on AMDs MI355X artificial intelligence chips and the companys central processing units (CPUs) and networking chips. The supercomputer system is co-developed by AMD, Hewlett Packard Enterprise, Oracle Cloud Infrastructure, and Oak Ridge National Laboratory (ORNL). The timeline for Lux will mark the fastest deployment of this size of supercomputer that AMDs CEO, Lisa Su, has ever seen, she told Reuters. “This is the speed and agility that we wanted to [do] this for the U.S. AI efforts.” A second, even more advanced supercomputer, called Discovery, will have a longer timeline for completion and is expected to be ready for operations sometime in 2029.
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E-Commerce
Rare earth stocks find themselves underground on Monday as Treasury Secretary Scott Bessent said he expects that China and the U.S. will work out a trade deal in the near future. Meanwhile, stock markets largely soared on news of the trade optimism, with the Dow Jones Industrial Average up roughly 0.5%, the S&P 500 up 1%, and the Nasdaq up 1.6% as of midday Monday. Bessent, appearing on CBS Face the Nation Sunday news program, said that he anticipates that China will resume soybean purchases from the U.S., and that there could be an announcement on Thursday when President Trump and Chinese President Xi Jinping meet in South Korea. I’m not going to get ahead of the two leaders who will be meeting in Korea on Thursday, but I can tell you we had a very good two days, he said. “So I would expect that the threat of the 100% [tariff] has gone away, as has the threat of the immediate imposition of the Chinese initiating a worldwide export control regime. Part of those export controls concerns rare earth minerals, which are used in the manufacturing of a wide variety of products, such as vehicles and consumer electronics. And Bessents comments led to some earthquakes in the market on Monday, as rare-earth stocks fell significantly. Shares of MP Materials, for instance, were down more than 9% since the market opened, as of midday Monday. USA Rare Earth Inc., likewise, was down roughly 10%. Notably, MP Materials share price is up more than 312% year-to-date and USA Rare Earth shares are up roughly 85%. So investors are still making out well, despite todays downturn. The issue at the molten core of the rare earth trade is the fact that China controls the vast majority of rare earth mineral production and refining. By some measures, the Chinese control as much as 70% of rare-earth mining, 80% of refining and processing capacity, and more than 90% of the worlds supply. That means those minerals are scarce, which drives up pricesand share prices of companies operating in the space outside of Chinese control. While we dont know yet what kind of trade deal or agreement will surface later this weekor if one will at allBessents signaling that things are heading in a positive direction is whats having an effect on rare-earth stocks today.
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E-Commerce
If it seems like Black Friday deals, and holiday shopping in general, is starting earlier and earlier, you’re right. Just in time for, um, Halloween, both Walmart and Best Buy have announced plans for their 2025 Black Friday and Cyber Monday sales. Black Friday, always the day after Thanksgiving, falls on Friday, November 28 this year. Deals generally continue through that weekend into Cyber Monday, which falls on December 1. However, in recent years, many retailers have jump-started the sales some two, or even three weeks leading up to Thanksgiving. And this year is no different. Here’s what to know. When do Walmarts Black Friday deals start? The world’s largest big box retailer often sets the schedule for Black Friday deals, according to Axiosso take note. This year, Walmart said it will hold two different Black Friday sales events, rolling them out at different times online and in stores nationwide. Walmart+ members (those who pay for the retailers subscription tier) get first access to the deals starting on Thursday, November 13 at 7 p.m. ET, with sales opening for everyone else online and in-stores on Friday, November 14 and ending on November 16. The second event starts on the Monday before Thanksgiving, on Monday, November 24 at 7 p.m. ET for Walmart+ members; then online-only on Tuesday, November 25 through Thursday, November 27; and finally, both in-store and online on Black Friday itself, Friday, November 28 to Sunday, November 30. Walmart Cyber Monday 2025 sale The same drill goes for Cyber Monday, when Walmart+ members get early access beginning at 7 p.m. ET on Sunday, November 30 for the online-only sale. The sale starts on Monday, December 1 for all shoppers. Best Buy 2025 Black Friday, Cyber Monday sales Best Buy is starting even earlieron Halloween (yes, you read that right). This Friday, October 31, Best Buy is rolling out its early Black Friday tech deals called “DoorBOOsters”available on the Best Buy App, BestBuy.com and in-store. Members of Best Buy’s two programs, My Best Buy Plus and My Best Buy Total members, also get up to $25 in bonus rewards on select products. More Black Friday sales kick off Thursday, November 20, with savings on computing, gaming, home theater, wearables, and more. Cyber Monday comes a day early, on Sunday, November 30, with up to 50% off select tech. No one does the holiday shopping season like Best Buy, so we decided to expand the definition of holiday and start the fun on Halloween this year, Jason Bonfig, chief customer, product, and fulfillment officer at Best Buy, said in a statement. Whether you want to shop in your costume, or wait until Black Friday, well be here all season long with the best gifts, unbelievable deals and endless ways to discover the coolest products. Holiday shopping is forecast to increase at a lower rate than last year, as Americans feel the effects of Trump’s tariffs; inflation and the skyrocketing cost of living, including higher grocery costs; and a government shutdown which has many federal workers going without paychecks amid mass firings. Holiday retail sales are likely to increase between 2.9% and 3.4% in 2025, according to Deloittes annual holiday retail forecast, versus 4.2% in the same period in 2024.
Category:
E-Commerce
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