The Bank of Russia unexpectedly maintained its key interest rate at a record-high 21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to 8.9% in November, well above the central bank’s 4% target , with inflation expectations reaching 13.9% in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s 200-basis point hike as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...
Nvidia Corp's CEO, Jensen Huang, who pioneered the technology behind the rise in artificial intelligence (AI) computing, highlighted nuclear power as a viable solution to support the increasing energy needs of data centers. In an interview with Bloomberg Television on Friday, Huang remarked, “Nuclear is wonderful as one of the sources of sustainable energy. It won’t be the only one. We are going to need energy from all sources and balance the availability, cost, and sustainability over time.”
As global tech giants invest heavily in AI infrastructure, the demand for electricity has surged, making it challenging to find locations with sufficient power to build new data centers. This is leading to strategic decisions on the placement of these “AI factories”, with some data centers operating below capacity or being built far from urban areas.
Despite Nvidia’s latest-generation chips consuming over a kilowatt of power, Huang argued that they are more efficient because they accelerate AI training and operations, reducing the need for multiple older components.
On a separate note, Huang addressed the challenges Nvidia faces with US government restrictions on exports to China. He emphasized that the company is committed to complying with policies while continuing to serve its customers in China, who rely heavily on Nvidia's technology. "We will do our best to support them," Huang stated.
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