James Altucher:

Nvidia Says AI’s Water Challenge Is Largely Solved

Nvidia announced Monday at London Climate Week that its latest AI system can be fully cooled with liquid warm enough to reduce the need for additional chilling equipment.

"The water consumption challenge for data centers is largely solved," said Josh Parker, Nvidia's chief sustainability officer, in an interview last week ahead of his trip to London.

Nvidia's announcement comes on the heels of Google and Amazon defending their data center water practices amid growing local opposition to AI infrastructure. Tech companies are increasingly arguing that efficiency gains will blunt the environmental impacts of the AI buildout.

Nvidia's latest claim goes further, suggesting that next-generation AI systems could change the underlying cooling equation altogether.

Nvidia's coolant – a recirculated liquid mixture that includes water and propylene glycol, similar to automotive antifreeze – can run at 113 degrees Fahrenheit.

Because the liquid can operate at higher temperatures than previous systems, data centers may be able to rely less on chilling equipment that uses large amounts of energy or water – or even eliminate it altogether.

Steve Solomon, Microsoft's vice president of data center engineering, said it could eliminate the need for any type of mechanical chiller in most climates most of the time – even in hot places such as Arizona.

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Ray Blanco:

SpaceX Sinks 9% on $20 Billion Bond Sale, Virgin Galactic Drops 11%, Rocket Lab Falls 8% Despite NASDAQ 100 Debut

Shares of SpaceX (NASDAQ: SPCX) stock were down 9% in midmorning trading Monday, sliding to around $168 after the company announced its first public bond offering. The senior notes deal aims to raise at least $20 billion, with proceeds earmarked to repay a bridge loan and fund AI and data-center projects.

A debt raise of this scale can pressure a recently public stock. Added leverage compresses equity flexibility, and the sheer size of planned AI and data-center spending raises questions about return on capital allocation.

The pressure is spreading across the broader space sector. Virgin Galactic (NYSE: SPCE) stock is off 11% to $3.16, making it the biggest percentage decliner of the group. Rocket Lab (NASDAQ: RKLB) stock is down 8% to $99.

There's a notable wrinkle here. Rocket Lab officially joins the NASDAQ 100 today, becoming the first pure-play space stock in the index. That normally bullish catalyst isn't enough to offset the group's risk-off tone, and SpaceX itself is expected to join the NASDAQ 100 in early July.

Even with today's drop, Rocket Lab stock is still up 39% year to date, supported by strong fundamentals.

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Greg Guenthner:

Bitcoin 'Resilient' After Hawkish Fed, But No 'Return of Demand': Analysts

Bitcoin is grinding sideways, and the analysts watching it largely agree on the problem: the sellers are running low, but the buyers have not come back.

The leading cryptocurrency changed hands around $64,700 on Monday, up by 0.8% on the day but down about 13% over the past month and almost 50% below the record of $126,080 set in October, per CoinGecko data.

Crypto proved "more resilient than anticipated" in the face of new Fed Chair Kevin Warsh's hawkish debut, CoinShares head of research James Butterfill said Friday, with Bitcoin dropping by a lower-than-expected 1.6% versus the S&P 500's 1.2% and the Nasdaq's 1.3%.

"Higher real-rate expectations are still a headwind for liquidity-sensitive assets, so the market's initial hawkish interpretation made sense," Butterfill noted, but pointed to a "more nuanced" broader setup, with persistent inflation, policy uncertainty and a more reactive Fed building out Bitcoin's longer-term monetary case.

"In other words, the short-term macro impulse is restrictive, but the structural case for Bitcoin as an alternative monetary asset is not going away," he said."

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