FBRX Stock Soars to 52-Week High, Reaching $21.47Artificial intelligence is radically changing the way we live and work but its insatiable thirst for power is making the world's drive to go carbon free by 2050 even more challenging. Consider this: emissions of greenhous gases - GHGs - related to AI are predicted to soar more than tenfold between now and the end of this decade, from 68 million to 718 million tonnes of carbon dioxide equivalent, according to Accenture. The increase will be driven by the growing number of data centers and computing infrastructure, the global consultant says, adding that the jump ''assumes no significant advances in energy systems, computing technology or algorithms.'' Big Tech is well aware of the growing pressure to use clean energy and cut emissions and is now tapping into nuclear power, despite public fear over the disposal of nuclear waste and the risks of radioactive leaks. Governments, too, are looking at using more nuclear energy, which produces almost no GHG emissions. POWER HUNGRY GenAI tools are being increasingly used the world over, and developers are rolling out more and more computing-hungry visual processing while slashing prices in the battle for market dominance. OpenAI's ChatGPT from the United States had over a million paid business users in September, while ByteDance's Doubao from China saw its daily use jump thirty-threefold to 4 trillion tokens from July to mid-December. But GenAI consumes considerable electricity and thus emits even more CO2. If a user asks an AI large language model to generate a picture 1,000 times, the most inefficient model consumes 11.49 kilo Watts per hour - as much as 950 smartphone charges on average, a study by HuggingFace and Carnegie Mellon University shows. These 1,000 tasks are estimated to generate 1,594 grams of CO2, roughly the equivalent of 6.6 kilometers driven by a petrol-powered car. Data on the cloud also costs energy. A 1-gigabyte video stored in the cloud for a year will consume 65.7 kWh which produces 15.3kg of CO2e, only 11 percent less than the 17.2 kg CO2e generated by a petrol car over 100 km, according to researchers at Loughborough University in the UK. This makes it harder for global tech firms to eliminate their carbon footprint, as they already need to use nearly 1,300MW hours of power to train an LLM like GPT-3, about as much electricity as consumed by 130 homes in the US per year. Data centres and data networks each account for about 1-1.5 percent of global power usage and are responsible for 1 percent of energy-related GHGs, the International Energy Agency says. As tech giants accelerate the applications of AI, the industry is expected to use up to 3.5 percent of the world's electricity by 2030, equivalent to the current consumption of Japan, the world's fifth largest electricity user, says IT consultant Gartner. Notably, the surging demand from AI firms for electricity has delayed the retirement of coal and gas-fired power plants in the US, with the number of those phased out declining 45 percent year-on-year in the first half of the year, data from the US Energy Information Agency shows. China, though, is ahead of the game in this aspect, thanks to a decades-long push for renewable energy. Green power now accounts for over a third of all electricity generated and tech giants like Tencent (0700) have built new data centers in western China where wind and solar energy are abundant. CLEAN INVESTMENTS Nevertheless, to stay committed to their net zero goals, Big Tech is now turning to clean nuclear energy. Google, whose GHG emissions surged by 48 percent during four years to 14.3 million tonnes in 2023, has signed its first nuclear deal with Kairos Power to buy 500MW of clean electricity for its growing data center businesses, following similar moves by Microsoft and Amazon. Facebook-owned Meta is searching for nuclear power providers to acquire an additional 4GW of electricity in the US before 2030. Nuclear power has also got the attention of bankers, with 14 international financial institutions including Goldman Sachs teaming up to support nuclear power construction. Meanwhile, investors are betting on nuclear energy providers, pumping their shares up. In the US, NuScale Power, a small modular reactor or SMR developer, has skyrocketed 520 percent and Oklo, a nuclear startup backed by OpenAI chief executive Sam Altman has jumped 115 percent this year. In Hong Kong, CGN Power (1816), part of the state-owned China General Nuclear Power Group and the world's second-largest nuclear energy firm - has risen about 36 percent this year. But CNNC International (2302), the overseas arm of state-owned China National Nuclear Corporation, the major developer and landlord of nuclear power plants in the mainland, has plunged 23.5 percent this year. BOC International projects electricity will remain a market focus next year, supported by a rare global consensus. But instead of power plants, BOC International is betting on firms that produce uranium - the fuel for nuclear plants - with CGN Mining (1164) its top pick. Though CGN Mining is down 5 percent this year, the bank expects it to hit HK$2.1 apiece, indicating a 28 percent gain from the current price of HK$1.64. Morgan Stanley has a buy rating for CGN Power, citing easing concerns about slower decreases in electricity prices in the short run and raised the target to HK$3.69 apiece, 31 percent higher than its price of HK$2.81. BOC International set its target at HK$3.2 per share. Meanwhile, small modular reactors have gained investments from Google, Amazon and Oracle due to their smaller size and lower electric consumption. But despite NuScale's rally, concerns remain about high generation costs and its wave of layoffs. Some governments are also in nuclear mode, while others won't touch it with a barge pole. China recently completed construction of the world's first commercial SMR and wants to explore elusive nuclear fusion - the holy grail of energy - while Russia, Japan, South Korea and Thailand are also looking at building SMRs. Besides, Japan plans to restart most of its existing reactors to meet surging AI demand, despite regulatory hurdles and public opposition amid the ongoing clean-up of the Fukushima plant, which melted down 13 years ago after being hit by a massive tsunami - the second worst disaster, after Chernobyl in 1986, in nuclear power history. But Germany and Taiwan have banned and phased out nuclear energy. CARBON TRADE In the meantime, AI players have other options on hand. Carbon credits or offsets allow owners to emit a certain amount of CO2 or other GHGs by buying certificates linked to projects that reduce GHG emissions. One such option is direct air capture, in which CO2 in the air is removed by chemical sorbents or filtered and later stored or used. But DAC costs are high, varying from US$600 to US$1,000 per tonne of CO2. PwC expects carbon credits would be further tokenized on the estimated adoption of US$16 trillion worth of assets, while Morgan Stanley believes voluntary carbon offsets will swell 49 times to US$100 billion between 2023 and 2030. But carbon trading is also controversial, with Greenpeace alleging that some offset projects indulge in double-counting amid a lack of standards and regulations. To tackle surging AI emissions, the International Monetary Fund advocates imposing an electricity tax on AI firms of US$0.032 per kWh or US$0.052 including air pollution costs, which could raise as much as US$18 billion a year. The IMF also wants governments to coordinate over carbon prices to avoid AI firms relocating to places with lower standards. Experts say AI can has the potential to mitigate 5-10 percent of all GHG emissions by 2030 as its technology advances, but it's too early to tell if nuclear energy will be the magic bullet that hits the bull's eye between performance and emissions. Still, with the right investment and amid growing AI demand, it just might.The attack took place in a slum located on the outskirts of a major city in Haiti. According to reports, a group of armed individuals descended upon the neighborhood in the early hours of the morning, setting fire to homes and terrorizing residents. The victims, including men, women, and children, were caught off guard and unable to defend themselves against the ruthless attackers.The latest round of airstrikes is just the latest in a series of tit-for-tat exchanges between Israel and Syria, which have increased in frequency in recent months. The conflict in Syria has become increasingly complex, with multiple foreign powers becoming entangled in the region's civil war.
A weekend house fire has left a family displaced and taken the life of a beloved pet. The blaze at 454 Alston Road broke out shortly after 12:30 p.m. on Sunday. When the fire broke out in their kitchen, homeowners Ashley Fenton and Dave Stewart were at the movies. A neighbour spotted the flames and called 911, his next call was to Ashley. “We started getting calls on my watch from my neighbour. And we knew that it was strange for them to call us.” Uncertain of the message, Dave ran out of the theatre and drove home. “I just knew something was up. And when I was coming in, like, driving to the house, I heard the sirens stopping. I was like, that's in my area, that's my house!” Sadly, he was right. He called Ashley. She arrived with a family friend to witness the scene. “There were flames were coming out the back windows from the kitchen.” London fire on scene of house fire on Alston Road in London, Ont. on Nov. 24, 2024. (Source: London Fire Department/X) As crews battled the fire, the couple worried about Ashley’s two children. As it turned out, both had left about an hour before the fire broke out. “The kids had both stopped in while we were at the theatre. Max had had a nap on the couch, I mean, they were out of the house. Thank God.” While firefighters were able to contain most damage to the kitchen area, unfortunately, not all family members were able to escape. “They went in instantly looking for them [the family's two cats] and came out with my Rose, and she was safe. But later they came with Reggie, and he wasn't able to make it,” said Dave through tears. “He just turned three,” added Ashley. “Yeah, he was just a baby, but he was awesome. And we're going to miss him very much.” Reggie, A family pet lost in the fire is seen in this undated photo (Source: Ashley Fenton and Dave Stewart) Material damage is estimated at $200,000. It is devastating news for the family – who had rented the home from a family member. “We didn’t have insurance,” confirmed Dave. As firefighters remind the public about the benefits of carrying insurance in case of loss, friends of the couple have set up an online campaign. A fire damaged kitchen lost in a weekend house fire, November 25, 2024 (Sean Irvine/CTV News London) Still, Dave is reluctant to accept help. “I don't intend to like, ask anyone for anything unless we really need it,” Dave stated. The cause has been deemed electrical. In the wake of the blaze, officials are also reminding the public about the dangers of leaving cooking unattended. London Top Stories 'It’s getting dangerous downtown': Rear entrance of London business sprayed with gunfire 'I just knew something was up': London family recounts rushing to their burning home where pet perished Christmas tax break will be 'challenging' for small businesses, says gift shop owner VIDEO | Three of five former junior hockey players in attendance for court proceedings Londoner whose wallet was stolen from their unlocked car serves as cautionary tale Stabbing and robbery being investigated by London police, 3 suspects wanted Fatal crash reported in Huron County Three people in hospital due to collision CTVNews.ca Top Stories 'It's just not fair': Retirees speak out on being excluded from federal rebate cheques Carol Sheaves of Moncton, N.B., says it's not fair that retirees like her won't get the government's newly proposed rebate cheques. Sheaves was among the seniors who expressed their frustrations to CTVNews.ca about not being eligible for the $250 government benefit. Warren Buffett gives away another US$1.1B, announces plans for distributing $147B fortune after death Investor Warren Buffett renewed his Thanksgiving tradition of giving by announcing plans Monday to hand more than US$1.1 billion of Berkshire Hathaway stock to four of his family's foundations, and he offered new details about who will be handing out the rest of his fortune after his death. Premiers seek 'urgent' meeting with Trudeau before Trump returns to White House Canada's premiers are asking Prime Minister Justin Trudeau to hold an urgent first ministers' meeting ahead of the return to office of president-elect Donald Trump. Deer spotted wearing high-visibility safety jacket in Northern B.C. Andrea Arnold is used to having to slow down to let deer cross the road in her Northern B.C. community. But this weekend she saw something that made her pull over and snap a photo. Canada Post says progress 'limited' at negotiating table as strike continues Canada Post says they have made 'limited progress' with the union at the negotiating table 11 days after the strike began. Los Angeles judge postpones hearing on release of Menendez brothers A Los Angeles County judge on Monday postponed a hearing over the possible release of Lyle and Erik Menendez after 35 years in prison for the shotgun murder of their parents, saying he wanted to hear from a new district attorney due to take office on Dec. 3. Canadian Army corporal fined for stolen valour at Remembrance Day ceremony A corporal in the Canadian Army has been fined $2,000 and given a severe reprimand for wearing service medals he didn't earn during a Remembrance Day ceremony in Alberta two years ago. Justin Trudeau defends spending record on military amid fresh criticism Prime Minister Justin Trudeau is defending his government's record on supporting national defence, following fresh criticism that Canada is failing to live up to its NATO defence-spending commitments. CEOs demand changes to Liberals' military spending plan The federal government risks jeopardizing the economy unless it meets its NATO military alliance spending obligations within the next five years, says the Business Council of Canada. Shopping Trends The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us. 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Drug bust after a suspect pointed handgun at victim at northern Ont. gas station Sault Ste. Marie Sault suspect charged with punching rideshare driver in the face twice Drug bust after a suspect pointed handgun at victim at northern Ont. gas station Elliot Lake, Ont., woman charged with choking neighbour's dog Ottawa FREEZING RAIN WARNING | 1 to 3 mm of freezing rain possible in Ottawa-Gatineau tonight OC Transpo well below punctuality targets on 'less frequent' routes Cargo ship runs aground in St. Lawrence River near Morrisburg, Ont. Toronto Ontario government passes bill to limit bike lanes Toronto mother now facing murder charge in death of four-month old baby 'Embarrassing:' NHL team ditches bus and walks to Scotiabank Arena amid gridlock Montreal Montreal mayor says Friday pro-Palestinian protests were taken over by 'professional vandals' Teen girls engage in more risky behaviour than boys: Quebec study Man in critical condition after basement fire in Montreal's Saint-Michel neighbourhood Atlantic 'It's just not fair': Retirees speak out on being excluded from federal rebate cheques Man charged with unsafe storage of a firearm in Tyson MacDonald homicide: RCMP From cellphones to dentures: Inside Halifax Transit’s lost and found Winnipeg Winnipeg police shoot, kill suspect after officer stabbed in the throat Mounties looking for missing car in connection with suspicious death $4.2M from feds to create Indigenous-led family care centre in Winnipeg Calgary Alberta seeks to 'de-risk' oil, gas pipeline investments in wake of Trump victory $3.69M Calgary mansion with basketball court for sale in Aspen Woods 'We need an industry': Crowsnest Pass residents voting on support for new coal mine Edmonton 24 arsons in south Edmonton under police investigation Death of worker in Edmonton smokehouse leads to 26 charges against food processing company The story of Alberta's rural long COVID program that never was Regina Sask. Party prioritizes affordability, civility with opposition in Throne Speech Regina commits to clearing all 'high priority roads' of snow by Tuesday morning Regina police release images of suspects following early morning armed robbery Saskatoon Sask. Party prioritizes affordability, civility with opposition in Throne Speech Saskatoon's second big snowfall in a week won't trigger emergency response: City Two dead after crash on Saskatchewan Highway 4 Vancouver Deer spotted wearing high-visibility safety jacket in Northern B.C. Wild weather behind 11-cent surge in Vancouver gas prices, analyst says Canadian border agents seize 246 kilos of cocaine in B.C. Vancouver Island Canadian Army corporal fined for stolen valour at Remembrance Day ceremony Deer spotted wearing high-visibility safety jacket in Northern B.C. 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In a heartwarming and yet perplexing scene, a recently freed prisoner from Syria was seen running and laughing joyously through the streets. The video of his jubilant sprint quickly went viral, leaving viewers around the world wondering what had transpired to evoke such a spirited reaction from someone who had just been released from captivity.
TORONTO, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Rivalry Corp. (the "Company" or "Rivalry") (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, is pleased to announce that it has closed the third tranche (the “Third Closing”) of its non-brokered private placement of units of the Company (the "Units"), previously announced on November 26, 2024 (the "Offering"). Under the Third Closing, the Company issued 2,231,253 Units at a price of $0.15 per Unit, for gross proceeds of $334,688. The Company may complete one or more additional closings, for aggregate gross proceeds (together with the proceeds raised under the initial closing, second closing and Third Closing) of up to approximately USD$3 million. Unless otherwise noted, all dollar figures are quoted in Canadian dollars. Each Unit is comprised of one (1) subordinate voting share in the capital of the Company (each, a "Subordinate Voting Share") and one-half of one (1/2) Subordinate Voting Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable into one Subordinate Voting Share in the capital of the Company (each, a "Warrant Share") at a price of $0.25 per Warrant Share for a period of 12 months from the date hereof, subject to the Company's right to accelerate the expiry date of the Warrants upon 30 days' notice in the event that the closing price of the Subordinate Voting Shares is equal to or exceeds $0.50 on the TSX Venture Exchange (or such other recognized Canadian stock exchange as the Subordinate Voting Shares are primarily traded on) for a period of 10 consecutive trading days. The Company intends to use the proceeds from the Offering for corporate development and general working capital purposes. The Subordinate Voting Shares and Warrants, and any securities issuable upon exercise thereof, are subject to a four-month statutory hold period, in accordance with applicable securities legislation. The Company has paid an aggregate of $10,501.20 in finder's fees in connection with the Third Closing. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available. 100,200 Units were issued to family members of Steven Isenberg, a director of the Company and a "related party" (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101")) and 500,000 Units were issued to Kevin Wimer, a director of the Company and a "related party", and such issuances are considered a "related party transaction" for the purposes of MI 61-101. Such related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities being issued to the related parties nor the consideration being paid by the related parties exceeded 25% of the Company’s market capitalization. The purchasers of the Units and the extent of such participation were not finalized until shortly prior to the completion of the Offering. Accordingly, it was not possible to publicly disclose details of the nature and extent of related party participation in the transactions contemplated hereby pursuant to a material change report filed at least 21 days prior to the completion of such transactions. About Rivalry Rivalry Corp. wholly owns and operates Rivalry Limited , a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet. Company Contact: Steven Salz, Co-founder & CEO ss@rivalry.com Investor Contact: investors@rivalry.com Media Contact: Cody Luongo, Head of Communications cody@rivalry.com 203-947-1936 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Note Regarding Forward-Looking Information and Statements This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s MD&A dated April 30, 2024 and other disclosure documents available on SEDAR+ at www.sedarplus.ca . No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Source: Rivalry Corp.None
Embarking on an Adventure Journey, Composing an Epic Heroic Tale: Three Stars Monitor and "The Lion King: Mufasa Chronicles" Set Out on a Royal Quest
Chess grandmaster Magnus Carlsen returns to a tournament after a dispute over jeans is resolvedOne of the most contentious positions in this year's Best XI is that of goalkeeper. Many were surprised to see Manchester City's Ederson included in the lineup, ahead of other top goalkeepers such as Alisson Becker of Liverpool and Jan Oblak of Atletico Madrid. While Ederson has had a solid season with Manchester City, some argue that he has not been as influential or consistent as some of his counterparts. This decision has led to questions about the criteria used to select the Best XI and whether it truly reflects the best players in each position.
