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Through the partnership, Redington will distribute FIMER’s technology for C & I customers, solar developers, EPCs and rooftop installers View More
Space companies are racing to make data centers in space a reality, as artificial intelligence skyrockets demand for energy and land resources. View More
In this articleAMZNFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO2:4702:47Jeff Bezos: 2-3 year timeline for space data centers is a 'little ambitious'Squawk Box Amazon founder Jeff Bezos said bringing data centers into space is a "very realistic" outcome, but could take longer than expected to pan out as enthusiasm for the sector builds ahead of SpaceX's upcoming IPO."Some of the timelines we hear are very short," he told CNBC's Andrew Ross Sorkin on Wednesday. "People would talk about two or three years. That's probably a little ambitious."Bezos, who founded space company Blue Origin, said one key barrier to entry is energy, and chip costs need to come down to make more room in data center budgets. Launch costs also need to get cheaper, he said. Space companies are racing to make data centers in orbit a reality, but artificial intelligence demand requires massive energy resources. Proponents say orbital data centers offer unfettered solar energy access and resolve the issue of finding land to build these sprawling sites. Businesses are betting big on the prospect of space-based datacenters. In February, Musk said building "orbital data centers" in space was one of the main reasons for merging SpaceX with his artificial intelligence start-up xAI. In March, Blue Origin submitted plans to the Federal Communications Commission to send 51,600 data center satellites into low Earth orbit, as part of an initiative dubbed "Project Sunrise."These satellites would be supported by Blue Origin's planned constellation, called TeraWave. Blue Origin has sought regulatory approval to launch TeraWave, saying it hopes to begin deploying the constellation in the fourth quarter of 2027. Read more CNBC tech newsSpaceX picks Goldman Sachs for lead left position on record-breaking IPO, sources sayOpenAI announces new Guaranteed Capacity offering for customers to secure computeGoogle debuts new AI models, personal AI agents in effort to keep pace with OpenAI and AnthropicPentagon taps Shield AI for low-cost drone program as Iran war accelerates demand for cheap drones The comments from the billionaire tech entrepreneur come ahead of SpaceX's IPO filing, expected as soon as this week. Space stocks have rallied in the lead-up on hopes that the IPO and President Donald Trump's "Golden Dome" defense system plans will drive more capital to the sector and create more government contracts. SpaceX was most recently valued at $1.25 trillion by Musk after he merged it with xAI, and could be looking at a valuation of $1.75 trillion or even higher when it goes public.Bezos said he isn't keyed into how much of that valuation is based on financials or a bet on the future, but, "One thing I can tell you for sure is that space is going to be a gigantic industry."Blue Origin's strategy also involves moving industry from Earth to the moon. That includes building solar cells from lunar materials, which can be launched more easily into space because of the moon's gravity distribution, Bezos said. The company is also working with NASA and the U.S. government to build a permanent base on the moon and scale U.S. defense capabilities to maintain space superiority, Bezos said."I would caution people who think it's all science fiction to be a little cautious with their judgment, because it is real, it is happening," he said. "It's probably going to happen faster than most people think."â CNBC's Annie Palmer contributed reporting watch nowVIDEO1:0801:08Jeff Bezos on SpaceX IPO: Space is going to be a gigantic industrySquawk Box Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Power producers are often forced to sell electricity at low prices during periods of weak demand, but cannot make up for those losses when demand ?rises because of the price ceiling, says the industry body View More
Modular data center builder Armada has raised $230 million from investors at a valuation of $2 billion, with BlackRock becoming a new investor. View More
Armada co-founders Dan Wright (L) and John Runyan (R)Armada Armada, which builds modular data centers that are becoming increasingly popular with customers in defense, energy and the military sector, raised $230 million from investors in a Series B fundraising round announced on Tuesday. San Francisco-based Armada, which was named to the 2026 CNBC Disruptor 50 list on Tuesday, was valued at $2 billion in the deal. The investor round comes alongside a manufacturing deal with Johnson Controls, which made an investment in Armada, to produce modular data centers at a new 400,000-square foot Arizona factory called Galleon Forge One. The factory, expected to create more than 500 jobs, will initially produce Armada's Leviathan, a megawatt-scale data center, starting this summer. Unlike the massive data centers built by the hyperscalers, Armada's data centers can attach to existing energy sources, such as solar power and gas flares produced by oil wells, and can be deployed within days rather than years. The modular data centers enable AI processing to occur on-site rather than requiring data to be transmitted."The AI race will not be won by one-off projects," said Dan Wright, co-founder and CEO of Armada in a statement on the deal. "It will be won by the companies and countries that can manufacture, deploy, and continuously improve AI infrastructure, with speed, scale and sovereignty."Wright has framed the company 's mission as tied to America's AI global competition with China, saying it is "the defining race of our time." More coverage of the 2026 CNBC Disruptor 502026 CNBC Disruptor 50: See the full list of companiesThe latest trends shaping Disruptor success storiesHow we chose this year's list Johnson Controls has 40,000 field personnel across key regions which enable Armada to produce and deploy AI infrastructure. "Johnson Controls is working with Armada to rapidly deliver secure modular data centers at scale," said Joakim Weidemanis, Johnson Controls CEO, in a statement. "Johnson Controls' differentiated technology, U.S.-based manufacturing strength and Armada's edge computing expertise will deliver the thermal-critical environments that perform predictably, deploy quickly, and scale with confidence," he added.The companies have already deployed units across the United States and around the world.Armada is selling its modular data centers to the U.S. military and within industries such as mining, telecommunications, and oil and gas, all which operate in what Armada calls "rugged" environments. The U.S. Navy used Armada in its UNITAS Naval exercise with partners in the Americas, with Rear Admiral Carlos Sardiello noting that modular data centers and edge computing help the Navy operate at sea. Armada is also collaborating on the U.S. Department of Energy's Genesis Mission, connecting national labs, supercomputers, and datasets into an AI research platform. Globally, Armada has projects in Australia with WinDC to deploy portable AI factories, and in Norway's oil and gas industry with Aker BP.Armada said customer bookings grew 540% from fiscal 2025 to fiscal 2026, and Q1 FY27 alone saw a 2,000% year-over-year spike.The company said the round was oversubscribed and and co-led by Overmatch, 8090 Industries, and BlackRock, which is a new investor. Johnson Controls, NightDragon, Mitsui, and Singtel Innov8 also joined the round as new strategic investors. Existing investors including Felicis, Marlinspike, Shield Capital, Lux Capital, Founders Fund, Veriten and Gladebrook were also on the deal. Sign up for our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at list-making companies and their innovative founders. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
The U.S. Treasury Department settled a case against Adani Enterprises, involving the purchase of sanctioned Iranian energy between November 2023 and June 2025. View More
In this articleADANIENT-INFollow your favorite stocksCREATE FREE ACCOUNT Gautam Adani, chairman of Adani Group, visits the VIP jetty ghat during the Kumbh Mela festival in Prayagraj, Uttar Pradesh, India, on Jan. 21, 2025. Photographer: Indranil Aditya/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty Images The legal woes of Indian billionaire Gautam Adani in the U.S. are nearing an end as authorities move to close investigations on charges of bribery, fraud, and buying Iranian-sanctioned energy against the businessman and his firm.On Monday, the U.S. Treasury Department settled a case against Adani Enterprises, the flagship company of the Adani Group, involving the purchase of sanctioned Iranian energy between November 2023 and June 2025.The Indian firm has agreed to pay $275 million to settle "its potential civil liability for apparent violations of OFAC [Office of Foreign Assets Control] sanctions on Iran," according to an official statement.The company had purchased shipments of liquefied petroleum gas, or LPG, from a Dubai-based trader that "purported to supply Omani and Iraqi gas" but overlooked red flags indicating that the supplies originated in Iran, the U.S. regulator said.It added that the settlement reflects "violations were egregious and not voluntarily self-disclosed."Adani Group did not immediately respond to CNBC's request for comments.The Adani group oversees a sprawling business empire spanning ports, power, and infrastructure, comprising several publicly traded companies, with the Adani family holding majority stakes in several firms. Relief in DOJ probe In another major relief for the Indian business group, the U.S. Department of Justice also said it would drop criminal charges in a bribery and fraud probe against Gautam Adani, according to a report by the Wall Street Journal on Monday.The DOJ's move was anticipated after the Securities and Exchange Commission last week moved to settle its civil lawsuit against Adani and his nephew, Sagar Adani. The SEC's civil lawsuit had alleged that the two men misled investors as part of a bribery and fraud scheme tied to solar contracts in India, the same charges that were being investigated by the DOJ as well.As per the WSJ report, the DOJ has reviewed the case and "decided not to devote further resources to these criminal charges" against Adani and the others.In November 2024, a New York federal court had indicted Adani along with seven others on charges related to a massive bribery and fraud scheme, which the Adani Group had denied as "baseless." The people were accused of having paid Indian government officials more than $250 million in bribes to obtain solar energy supply contracts worth more than $2 billion in profits. Although the alleged conduct at the center of the DOJ case occurred in India, the defendants were charged with misleading U.S. and international investors about their company's compliance with anti-bribery and anti-corruption practices while raising over $3 billion to fund those energy contracts.According to a New York Times report last week, Adani's legal team had proposed that the Indian businessman was willing to invest $10 billion in the American economy and create 15,000 jobs, if the DOJ dropped the charges.The recent wave of easing of legal uncertainty in the U.S. could help reopen international capital markets for the Adani Group and accelerate its renewable and infrastructure expansion plans.The group had nearly 2.78 trillion rupees (about $32 billion) in net debt as of September of last year, according to company data. Global banks and capital markets account for 41% of Adani Group's total debt.â CNBC's April Roach contributed to this report. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Rajasthan's Chief Minister inaugurated the state's first semiconductor cluster in Bhiwadi, highlighting 35 pro-investment policies. This move positions Rajasthan as a major industrial hub, with plans for a new industrial area and advancements in renewable energy. View More
Jaipur, Rajasthan Chief Minister Bhajanlal Sharma on Friday inaugurated the state's first semiconductor cluster at Bhiwadi and said the government had implemented 35 policies over the past two years to promote investment and create an industry-friendly environment. Addressing a virtual event from the chief minister's residence, Sharma said the state government was committed to encouraging investment across sectors and positioning Rajasthan as a major industrial destination. He said work was progressing on connecting Rajasthan with Delhi through the Regional Rapid Transit System (RRTS) via Haryana and on implementing Yamuna water agreement. The chief minister also said the government planned to establish a major industrial area near Bandikui in Alwar district. Calling the semiconductor cluster a significant achievement, Sharma said Rajasthan was rapidly advancing in renewable energy, including solar and wind power, as part of efforts to make the state a leader in the energy sector. Live Events The event also marked the inauguration and foundation laying of several projects in Khairthal-Tijara district, including the Elsina Electronics Complex and a 34 MLD sewage treatment plant, according to a release. Union ministers Ashwini Vaishnaw and Bhupender Yadav also attended the programme virtually. Vaishnaw said semiconductor manufacturing had emerged as a critical industry for India and that the country now had 12 semiconductor plants producing chips for various devices. "Electronics manufacturing in India has increased six-fold over the last 12 years to Rs 13 lakh crore, and mobile phones have become the country's top export commodity," Vaishnaw said. He said the Bhiwadi electronics manufacturing cluster involved an investment of Rs 1,200 crore and was expected to generate employment for around 2,500 people. Union Minister Bhupender Yadav said the government was committed to developing Bhiwadi as a manufacturing hub, particularly in semiconductors and electronics manufacturing alongside the automobile sector. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!
The Department of Homeland Security raided a Fuyao auto glass plant last year, as its main competitor warns it could be put out of business. View More
In this article660-SZFollow your favorite stocksCREATE FREE ACCOUNT Construction materials sit in front of the loading docks at the Fuyao Glass America production facility in Moraine, Ohio, U.S., on Friday, Aug. 19, 2016.Ty Wright | Bloomberg | Getty Images MEADVILLE, Pa â President Donald Trump is in China, courting new trade deals with Beijing. One glassmaker in the U.S. is warning that their top Chinese competitor exemplifies the risks of letting China in. CNBC last week visited a Vitro glass plant in Meadville, Ohio, with Rep. Ro Khanna, D-Calif., who is the top Democrat on the U.S.-China select committee in Congress. The plant is helping produce glass for solar panels, and has long produced automotive glass. CNBC travelled with Khanna throughout the Rust Belt as part of his "Heartland Tour," a multi-state swing through the country's industrial heart to highlight the growth of U.S. manufacturing and the risks from China, the U.S.'s chief competitor. During Khanna's visit, executives from Vitro aimed their fire at chief rival, Fuyao, and warned that without protection, all competitors in the glass industry would be pushed out. "If we don't do something about this, there's only going to be two of us," one Vitro executive told Khanna at the meeting. "China has deeper pockets than before, so eventually what they will do is they'll make sure they completely destroy the competition, and then they'll bring up the prices." "We definitely have to do something about this, otherwise Fuyao is going to be managing the business here," the executive said. The dynamic underscores the risks that come with allowing Chinese investment in the U.S. at a time when Trump is in Beijing and could strike a deal to allow even more investment. And lawmakers in the Rust Belt are fretting that Trump will strike a deal that allows further hollowing out of the U.S. manufacturing industry from automotive glass to autos themselves. Read more CNBC politics coverageGas tax holiday as Trump promises? Not so fast, trucking, construction industries sayTrump doesn't need Congress to restart Iran strikes: HegsethAnalysis: Iran war hangs over Trump's China trip â and his presidencyCongress members push Chinese auto parts ban before Trump China trip Vitro and Fuyao both make automotive glass and sell to major automakers such as General Motors and Ford. Vitro is headquartered in Mexico and operates this Meadville factory along with numerous others in the U.S. Fuyao operates a large factory in Moraine, Ohio, which it purchased over a decade ago and was initially welcomed by leaders in the state. The plant was the subject of the 2019 Netflix documentary "American Factory" that was produced by Barack and Michelle Obama's production company.Vitro says it and other Fuyao competitors cannot match the prices the Chinese company offers. They said during the visit that they don't see a way to produce glass in a way that matches Fuyao's prices, given the industry's maturity and associated costs.A Fuyao spokesperson brushed aside concerns that it is undercutting its competitors. "A reliable indicator of your strength in the brand is when a competitor resorts to such claims," the spokesperson said. "Our prices are reasonable, and customers choose Fuyao based on a comprehensive evaluation of technological expertise, product quality, delivery reliability, and service excellence, et alânot solely on cost."Fuyao has also been the subject of scrutiny in the U.S. recently. In 2024, the Justice Department and Department of Homeland Security raided Fuyao's factory in Moraine, part of a civil forfeiture complaint related to an investigation into a potential $126 million illegal staffing and money laundering operation. The DOJ said in a press release following the raid that the suspects in the case created roughly 40 "entities" to "facilitate the harboring, transportation and employment of illegal aliens at various factories," including Fuyao's plant in Moraine."It is alleged that many of the workers were illegally smuggled into the United States, primarily through Mexico, and encouraged to travel to the Dayton area to be employed by one of the target entities and serve as a workforce at the various factories," the Justice Department said. "Most of the workers are of Chinese or Hispanic nationality. Workers allegedly lived at 'family style hotels' (boarding houses) owned by the target entities and were driven to and from work in transportation provided by the target entities."In response to a question about the investigation, Fuyao said the company does not believe it is the target of the investigation. "Fuyao Glass America has maintained good standing and remains committed to full compliance with all applicable federal, state, and local laws," the spokesperson said.The incident prompted scrutiny from Congress. Last year's Commerce, Justice and Science Appropriations bill included a requirement for a Justice Department report on "entities implicated in forced labor supply chains, and a detailed breakdown of all related costs to carry out these efforts."A former Mexican ambassador to China warns that Fuyao is just one of many cases where Chinese-owned entities have become vital to the U.S. supply chain. And he said those supply chains can be disrupted at a moment's notice if China's government decides to shift policy. "That makes Chinese ownership, wherever they might be, of a part of the supply chain concerning," said Jorge Guajardo, a former Mexican ambassador to China who is now a partner at DGA Group. "Because they have shown they're willing to use that ownership to pressure and to stop companies from acquiring whatever product they use, and, in essence, stopping production."Fuyao said its U.S. operation is an "Ohio corporation based in Moraine, Ohio and is committed to localized manufacturing operations and the creation of local employment opportunities," and maintained that it does not pose a risk to the supply chain. Khanna has concerns about Chinest investment Khanna, after a visit to Ultium Cells, an electric vehicle battery-maker run by GM and LG, warned of the potential risks of letting China in. Trump has courted foreign investment from a number of countries, including the United Arab Emirates, Qatar and Saudi Arabia. "We don't want Chinese investment if it's going to be predatory," Khanna said. "What the president needs to say to China is much more about opening our markets there and making sure they are not engaged in abusive, predatory behavior here."Another stop on Khanna's tour was First Solar, a U.S. solar panel manufacturer, where he was joined by Rep. Marcy Kaptur, D-Ohio. Kaptur said China dumping cheaper goods into other markets is "their habit," and warned against Chinese-made vehicles being allowed into the U.S."If those borders are open to those $10,000 cars, it'll wipe out the industry," she said. "The president better have the best negotiators in trade that exist in the manufacturing sector in order to properly enforce our trade laws." And after a meeting at a General Motors plant in Romulus, Mich. with Khanna, Rep. Debbie Dingell, D-Mich., and Rep. Haley Stevens, D-Mich., the lawmakers argued that China poses an existential threat to the broader auto industry. "If we allow China to manufacture in the U.S., it is to let them come from within," Dingell said. "We cannot allow that to happen."In a further interview with CNBC at a United Auto Workers Local 600 union hall, Dingell doubled down."Sometimes you've got to be smart enough that you don't make the deal," she said. "You're protecting your country by not making the deal." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Indian billionaire Gautam Adani and his nephew Sagar Adani have agreed to settle a U.S. Securities and Exchange Commission lawsuit over allegations they misled investors. View More
In this articleADANIENT-INADANIGREEN-INFollow your favorite stocksCREATE FREE ACCOUNT Gautam Adani, chairman of Adani Group, during the inauguration ceremony for the Navi Mumbai International Airport in Navi Mumbai, India, on Wednesday, Oct. 8, 2025. Indranil Aditya | Bloomberg | Getty Images Shares of Adani Enterprises and Adani Green Energy pared early losses on Friday after the U.S. regulators sought court approval for a settlement in their civil lawsuit against Indian billionaire Gautam Adani and his nephew, Sagar Adani.Both stocks remain above their 52-week highs, according to LSEG data. Shares of Adani Enterprises are up roughly 24% this year, while Adani Green is up around 41%. The Securities and Exchange Commission had alleged that the two men misled investors as part of a bribery and fraud scheme tied to solar contracts in India. Under the settlement, Gautam Adani will pay a $6 million penalty, while Sagar Adani will pay $12 million. Both men have consented to "entry of the final judgment without admitting or denying the allegations made in the civil complaint," and payment of penalties, Indian renewable energy firm Adani Green said in a filing to the Indian stock exchanges. The company added that it is not part of these proceedings and "no charges have been brought against it."Shares of Adani Enterprises, the group's flagship company, rose 1.8% and Adani Green, the company at the center of the bribery allegations, added 0.6% after recovering from early losses following news of the SEC settlement. Stock Chart IconStock chart icon The SEC's civil complaint against Gautam and Sagar Adani, along with executives at Azure Power Global, centered on allegations of bribery tied to solar energy contracts awarded by India's government.The U.S. Justice Department will also likely drop the criminal fraud charges against Adani, according to multiple media reports. A New York federal court indicted Gautam Adani and seven others in November 2024 on criminal charges related to an alleged bribery and fraud scheme. Prosecutors alleged that the defendants paid more than $250 million in bribes to Indian government officials, misled investors and banks to raise billions of dollars, and obstructed justice, according to court documents. Stock Chart IconStock chart icon Although the alleged conduct at the center of the indictment occurred in India, the defendants were charged in the Brooklyn federal court because the fundraising efforts happened in the U.S. The Adani Group has denied the allegations made by U.S. authorities, calling them "baseless." In a meeting at the Justice Department's headquarters in Washington last month, Adani's legal team, led by Robert J. Giuffra Jr., argued that prosecutors lacked "basic evidence," according to a report by the New York Times on Thursday. The Indian businessman had offered to invest $10 billion in the U.S. economy and create 15,000 jobs, the report added.Earlier this year, the SEC sought permission from U.S. District Judge Nicholas Garaufis in Brooklyn to serve a legal summons on Adani after India's Law and Justice ministry twice refused to deliver it last year. Funding relief? Easing legal uncertainty in the U.S. could help reopen international capital markets for the Adani Group and accelerate its renewable and infrastructure expansion plans, Deven Choksey Research said in a report.The group had nearly 2.78 trillion rupees ($29 billion) in net debt as of September of last year, according to company data. Global banks and capital markets account for 41% of Adani Group's total debt."High debt remains the structural caveat," said the report, adding that it can be "adequately taken care of" by earnings growth, which is compounding annually by 20%.Gautam Adani, chair of India's Adani Group, oversees a sprawling business empire spanning ports, power and infrastructure. The conglomerate comprises 11 publicly traded companies, with the Adani family holding significant majority stakes in many of them.The group has also faced scrutiny since a 2023 report by short seller Hindenburg Research, which accused it of accounting fraud and stock manipulation. The Adani Group has repeatedly denied the allegations. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.