Russian Deputy Prime Minister Alexander Novak stated that datacenters' power consumption could double by 2030, reaching 110 GW and accounting for 3% of global energy use, comparable to metallurgy and agriculture. He emphasized the need for energy system development to support AI and called for specific regulations to prevent grid overloads and ensure affordability.
Soluna Holdings saw a 58% year-over-year revenue increase to $9.4 million in Q1, driven by data center operations. However, net losses widened to $17.9 million, while crypto mining revenue declined amid industry pressures.
The company also announced a new AI energy leasing deal as it continues to diversify into adjacent high-performance computing applications.
Core Scientific is raising $3.3 billion through senior secured notes due 2031 to fund data center expansion across Georgia, Texas, North Carolina and Oklahoma, and to refinance existing short-term debt. The debt offering allows capital access without shareholder dilution. The move follows a $1 billion credit agreement with Morgan Stanley in March as crypto miners increasingly pivot toward high-performance computing and AI workloads.
Victory Giant, a Chinese printed circuit board manufacturer for AI and high-performance computing, surged 57.23% in its Hong Kong trading debut on Tuesday, with the retail tranche oversubscribed 431.15 times. The company became the world's leading PCB maker by revenue in AI/HPC in H1 2025 with 13.8% market share, up from 7th place in 2024. Victory Giant entered Nvidia's H-series AI accelerator supply chain in 2023 and was promoted to tier-one supplier in 2024.
Victory Giant, a Chinese printed circuit board manufacturer for AI and high-performance computing, surged 57.23% in its Hong Kong trading debut on Tuesday, with investors capitalizing on booming demand for AI infrastructure hardware. The retail tranche was oversubscribed 431.15 times. The company rose from seventh place with 1.7% market share in 2024 to lead the market with 13.8% in H1 2025, according to Frost & Sullivan data.
