- Microsoft Corp MSFT shares are trading higher Wednesday after it agreed to purchase electricity from startup Helion Energy in 2028, marking the first commercial deal for fusion power.
- Constellation Energy Corp CEG will be the power marketer and manage project transmission.
- OpenAI founder Sam Altman backed Helion's plant will likely be online by 2028 and will target power generation of 50 MW or greater after a 1-year ramp-up period.
- The company is building its seventh prototype, likely to demonstrate the ability to produce electricity in 2024.
- The development of a commercial fusion power facility will help Microsoft to achieve its goal of being carbon negative by 2030.
- Fusion can provide a nearly limitless energy source without producing harmful carbon emissions or long-lived waste.
- Meanwhile, reportedly Microsoft is eyeing a Firefox search deal as the Bing chatbot has failed to make a mark against Alphabet Inc GOOG GOOGL Google.
- Microsoft can only redeem the game by bagging deals to replace Google as the default search engine of a web browser like Firefox or Apple Inc's AAPL Safari.
- Therefore, Microsoft wants to bid for the Firefox contract, which will likely expire in 2023.
- Oracle Corp ORCL and Microsoft discussed a deal to rent servers lest they run out of computing power for large-scale artificial intelligence customers, reports suggest.
- Oracle is working on a broader AI strategy to improve the company's core software products. Oracle is also considering developing AI.
- Price Action: MSFT shares traded higher by 0.95% at $309.79 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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