Oil Jumps Toward $120
3-minute read.
In today's newsletter:
- Oil jumps toward $120
- Gas prices jump 47¢ in one week
- Nscale raises $2B to feed AI’s GPU addiction
- AI could automate 94% of the job. It’s only doing 33%.
Oil Jumps Toward $120
Oil prices jumped after tensions involving Iran raised fears that Middle East oil supply could be disrupted.
The global benchmark Brent crude briefly climbed near $120 per barrel, one of the biggest spikes in years.
Markets are especially worried about threats to shipping through the Strait of Hormuz, where about 20% of the world’s oil normally passes.
Higher oil prices quickly raise gasoline, shipping, and energy costs worldwide.
Gas Prices Jump 47¢ in One Week
U.S. gas prices jumped 47 cents per gallon in one week, pushing the national average to about $3.45, according to the American Automobile Association.
It is one of the fastest weekly increases in recent months.
Gasoline prices move with crude oil prices, so when oil rises quickly, gas stations usually raise prices soon after.
The spike means many U.S. drivers are now paying noticeably more at the pump than they did just a week ago.
Nscale Raises $2B to Feed AI’s GPU Addiction
AI infrastructure startup Nscale has raised $2 billion, giving the company a valuation of about $14.6 billion. The company builds AI data centers with powerful GPUs used to train and run artificial intelligence models.
Investors in the round include Nvidia, Dell, Citadel, Jane Street, and Norway’s Aker.
Founded in 2024, Nscale provides computing power to companies building advanced AI systems.
The new funding will be used to expand its AI data centers and cloud infrastructure as demand for AI computing continues to grow.
AI Could Automate 94% of the Job. It’s Only Doing 33%.
A new study from Anthropic found that in math and computer jobs, AI could theoretically automate about 94% of tasks.
But in real-world usage, only about 33% of those tasks are currently being automated based on how people use Anthropic’s AI system.
The research also found that higher-paying jobs like programmers, data analysts, and customer service workers are more exposed to AI tools.
But AI is still mostly helping people complete tasks rather than replacing them.
AI could automate more of your work. Here’s the roadmap to start.
Disclaimer: This newsletter is for informational purposes only. Details may change or come from third-party sources; always do your own research and consult a qualified professional before making decisions.
