Half-Life Writer Confessed He Went ‘Deranged’ for Publishing the Bizarre Half-Life 3 Story He Forever Regrets
Half-Life Writer Confessed He Went ‘Deranged’ for Publishing the Bizarre Half-Life 3 Story He Forever Regrets
As Half-Life 2 celebrates its 20th anniversary today, Valve has dropped a bombshell in the form of a comprehensive two-hour documentary. For many fans, it’s a bittersweet reminder of both the game’s revolutionary impact and the sequel that never was.
The “20th Anniversary Update” is also live. | Image Credit: Valve
But while Half-Life 3 ******** gaming’s greatest “what if,” one former Valve writer actually tried to answer that question. In a moment of what he now calls temporary insanity, Marc Laidlaw decided to share his vision for the series’ conclusion—a decision that would come back to haunt him.
The story behind this infamous blog post is as fascinating as it is bizarre, involving an isolated island, a severe case of cabin fever, and what happens when one of gaming’s most brilliant minds decides to go rogue.
A Half-Life Writer’s Moment of Madness
Back in 2006, Valve had ambitious plans for their episodic trilogy. Gabe Newell himself suggested these episodes collectively represented what fans were waiting for—effectively making them Half-Life 3 in all but name.
But as today’s documentary reveals, Episode 3 only made it about six months into development. The team had been experimenting with fascinating concepts, including an innovative ice ******* that would have let players create frozen structures. Then priorities shifted, with all hands needed for Left 4 *****.
Fast forward to 2017, a year after his retirement from Valve, Laidlaw did something unprecedented. He published what was essentially his vision for Episode 3‘s story on his personal blog. Looking back at that decision in a 2023 interview with Rock Paper Shotgun, his assessment was brutal:
I was deranged. I was living on an island, totally cut off from my friends and creative community of the last couple decades, I was completely out of touch and had nobody to talk me out of it. It just seemed like a fun thing to do… until I did it.
The isolation had clearly taken its toll, but the real impact of Laidlaw’s “deranged” decision wouldn’t become clear until years later, when Valve began exploring new possibilities for the franchise.
The Ripples of a Rogue Story
A scene from the Half-Life: Episode 3 gameplay footage, courtesy of the new documentary. | Image Credit: Valve
The impact of Laidlaw’s impromptu storytelling went far beyond personal regret. As Valve continued working on various projects, including what would eventually become Half-Life: Alyx, the published outline created unexpected complications:
Eventually my mind would have calmed and I’d have come out the other side a lot less embarrassed. I think it caused trouble for my friends, and made their lives *******.
What makes this story particularly poignant is the revelation in today’s documentary that Episode 3 might have been closer than we thought. Several team members now acknowledge they could have completed it in just a year or two.
Instead, they chose to wait for new technology and opportunities, leaving fans to speculate about what might have been. Laidlaw’s unauthorized story only complicated matters further:
It also created the impression that if there had been an Episode 3, it would have been anything like my outline, whereas in fact all the real story development can only happen in the crucible of developing the game. So what people got wasn’t Episode 3 at all.
Looking back at his decision to publish the story, Laidlaw’s assessment ******** unchanged:
Deranged. There’s really no other explanation.
As Half-Life 2 enters its third decade, the documentary reminds us of both what was and what could have been. The ice *******, the blob enemies, the unfinished story—they’re all part of gaming’s most enticing and elusive “what if.” But perhaps, as the success of Half-Life: Alyx and some recent developments suggest, the story may not be over just yet.
What do you think about Laidlaw’s candid confession? Was his post-retirement storytelling a blessing in disguise, or would you have preferred to never know his vision for the series’ conclusion? Share your thoughts in the comments below!
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New Child Fossil Teeth Reveal Why Humans Developed an Unusually Long Childhood
New Child Fossil Teeth Reveal Why Humans Developed an Unusually Long Childhood
A study by the ********* Synchrotron Radiation Facility (ESRF) suggests that early ***** species may have experienced extended childhoods well before significant brain enlargement, challenging longstanding evolutionary assumptions. The findings are based on the dental development of a nearly complete sub-****** ***** skull, unearthed at the Dmanisi site in Georgia and dated to 1.77 million years ago. The ESRF team, collaborating with the University of Zurich and the Georgian National Museum, utilised advanced synchrotron imaging to study the specimen’s teeth, providing unprecedented insight into the growth patterns of early humans.
Dental Growth as a Key to Evolution
The research examined dental microstructures, which, like tree rings, record daily growth, thus offering insight into overall physical development. Christoph Zollikofer, the study’s lead author from the University of Zurich, explains that teeth fossilise well and serve as a reliable record of childhood growth. According to Paul Tafforeau of ESRF, who co-authored the study, dental development often correlates with broader bodily growth, including brain development.
Analyses revealed a unique pattern in which back teeth matured more slowly than front teeth in the specimen’s first five years. This pattern, combined with an observed reliance on ****** caregivers, supports a hypothesis that early ***** juveniles may have been dependent on adults for extended periods, like modern humans.
Implications for the “Big Brain-Long Childhood” Hypothesis
The discovery could reshape how the “big brain-long childhood” hypothesis is understood. Previous theories held that prolonged childhoods evolved primarily due to increases in brain size. Yet, this Dmanisi specimen, while having a smaller brain comparable to great apes, showed evidence of prolonged support by older group members, possibly indicating that communal care, rather than brain size, was the initial driver of extended development.
David Lordkipanidze of the Georgian National Museum observed that one older Dmanisi individual survived toothless, implying social structures where knowledge was passed across generations. This evolutionary framework suggests that the extended childhood emerged first, enabling cultural transmission, which subsequently favoured brain growth and delayed maturation.
The findings, published in Nature, indicate that the gradual evolution of extended childhoods may have played a foundational role in early human development and social cohesion.
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Scientists discover world’s largest coral in Solomon Islands
Scientists discover world’s largest coral in Solomon Islands
STORY: :: Scientists have discovered the world’s largest coral
:: Solomon Islands
:: The mega coral is three times larger than the previous record-holder
:: and is believed to be around 300 years old
:: Eric Brown, National Geographic Pristine Seas Coral Expert
“Now the significance of finding coral like this, you know, goes beyond simply, you know, enjoying the moment and seeing this magnificent organism that’s mega coral, because it doesn’t just captivate the hearts and minds of people like seeing something magical, but it really shines a light (on) the significance of coral reefs worldwide, what their critical role is in the ecosystem.”
Scientists from the National Geographic Pristine Seas team were researching the health of the Solomon Islands’ ocean environments when they made the discovery. When underwater cinematographer Manu San Felix first saw the mega coral, he thought it was a shipwreck due to its large size.
The team’s coral expert, Eric Brown, said that the discovery is a reminder of the importance of coral reefs and the increased need for action to save the world’s oceans.
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Nexon Gives an Official Announcement About Jiggle Physics in The First Descendant
Nexon Gives an Official Announcement About Jiggle Physics in The First Descendant
Vukan writes: “Ever since the games release, fans have been begging the devs to add Jiggle Physics. And as we all know, the official dev Q&A is where all the freshest info can be found and questions answered.”
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Canada, Indonesia agree to trade pact as APEC summit braces for Trump – National
Canada, Indonesia agree to trade pact as APEC summit braces for Trump – National
Ottawa has concluded negotiations for a trade deal with Indonesia and is proposing nuclear-energy collaboration with Southeast ****** leaders.
The moves are a show of ****** for multilateralism as the re-election of Donald Trump in the ******* States is raising fears of further strain in global co-operation on trade and the environment.
Prime Minister Justin Trudeau and Indonesian President Prabowo Subianto held a bilateral meeting on the sidelines of the Asia-Pacific Economic Cooperation summit in Lima on Friday, announcing the end of trade talks that should lead to Canada signing a new deal with the world’s fourth-most populous country next year.
It comes as Trump’s impending return to the White House looms large over the discussions of the APEC grouping, which aims to improve trade among Pacific Rim nations.
1:45
Trudeau’s experience with Trump a valuable commodity at APEC summit
Trump’s first presidency saw him pull back from many multilateral agreements, including the Paris climate agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership trade deal, of which half of APEC nations are members.
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This time around, he has promised to slap at least a 10 per cent across-the-board import tax on all goods coming into the ******* States, which is causing great concern among America’s trading partners and has been a frequent topic of discussion at the summit.
“APEC is meeting in the context of rising protectionism, intense geopolitical competition, uncertain economic growth and the Trump election,” said Vina Nadjibulla, research vice-president for the Asia Pacific Foundation.
She said Trudeau has been pushing to preserve rules-based trade “that is critical to our prosperity,” especially with like-minded countries.
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Foreign Affairs Minister Mélanie Joly told reporters in Lima on Friday that Trump’s return is actually boosting Canada’s influence in the world.
“If there’s a country in the world that understands the ******* States, it’s Canada,” she said. “That’s why there are so many delegations, so many countries, coming to see us to ask about how we, they, can adapt.”
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Joly did not specify which countries or delegations have reached out for Canada’s advice. The ********* Press has reached out to the minister’s office for further details.
Joly also confirmed she expects Trump to visit Canada next year when the G7 leaders’ summit is held in Kananaskis, Alta.
She is, however, still pushing to get things done before Trump takes over. She met Thursday night in Lima with U.S. Secretary of State Antony Blinken, where the two discussed trying to get a new Columbia River Treaty over the finish line before the current administration exits.
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The deal governs how the two countries manage and share the resources along the Columbia River. Trump’s campaign comments about turning to Canada to solve Western U.S. water woes have raised concerns about how he might address that issue.
John Kirton, head of the G20 Research Group, said he expects Trudeau and many leaders to have informal talks on the sidelines of both summits to make sense of how to navigate another Trump presidency.
“Trudeau will be in a relatively privileged position, because he’s been with Donald Trump at (several) summits, and we’re the next-door neighbours; we’re a front-line state,” he said.
Nadjibulla said Trump’s re-election likely means a reduced role for the U.S. in multilateral institutions and fighting climate change, as well as greater tension with China over trade, tariffs and technology.
Trudeau and Canada did not have the smoothest relationship with the first Trump administration, though the two did conclude a renegotiation of the North ********* free trade deal. The ******** government is depending on its previous experience of dealing with Trump to guide its efforts to maintain a strong relationship now, stressing the critical trade ties across the border, continental security and working to diminish China’s dominance in clean technology and electric vehicles.
Canada has also been pursuing efforts to offset China’s influence in Asia with a new Indo-Pacific strategy announced in 2022.
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In announcing the conclusion of trade talks with Trudeau Friday, President Subianto praised Canada for being a partner in everything from sustainable fishing to artificial intelligence. The deal should advance digital trade and renewable energy, he said.
Indonesia has a soaring economy, buoyed by a population of 280 million that includes a large proportion of young people. The country has been trying to wean itself off high carbon emissions as it copes with threatened biodiversity.
Trudeau told corporate leaders that Canada was looking to partner on nuclear energy in Southeast Asia, particularly as countries in the region raise concerns about the large amounts of energy needed to power artificial intelligence.
At the APEC CEO summit Friday afternoon, he said developing the nuclear industry is about economies planning for the next 25 years.
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“You can’t talk about AI without talking about the power necessary to generate it,” he said.
Canada’s Indo-Pacific Strategy made no direct mention of the nuclear sector when the Liberals released it two years ago.
But now, Trudeau said Canada will use its “trade gateway” initiative to not only link businesses but also to help broaden local knowledge of nuclear technology, such as how to create a viable market for nuclear goods and adequately train personnel.
Ottawa will also “identify opportunities for Canada’s broader nuclear industry to supply products and services to support ********* and regional objectives,” Trudeau’s office wrote in a statement.
Trade Minister Mary Ng said the idea came about when peer countries said they had energy needs for sectors like AI, quantum computing and data centres. “Nuclear came up in that context, and then we just sort of connected the dots,” she told reporters.
Joly also met with China’s foreign minister, Wang Yi, on Thursday, discussing Canada and China’s co-operation on air transport and combating fentanyl. She said she also discussed with him the ********* public inquiry on foreign interference and sent “clear messages to China that we will never accept any foreign interference.”
********* officials have been mum on the prospect of Trudeau meeting with ******** President Xi Jinping, whether in a formal sit-down or an informal hallway chat, either in Lima at APEC or over the weekend when they both travel to the G20 leaders’ summit in Brazil.
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Canada needs to have ‘predictable’ relationship with China, Joly says
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Postelection stock market thrust unable to be sustained as rate and valuation worries creep back in
Postelection stock market thrust unable to be sustained as rate and valuation worries creep back in
First the reflex, then the rethink. The fast-twitch rush for risk that jolted markets following the decisive election result and excitement over potential growth-stoking policies gave way last week to a modest retrenchment and reassessment as some tradeoffs and unknowns encroach. The list of assets that went vertical on a geyser of speculative juices in the initial post-election burst was long and lively: Bitcoin and associated lesser digital scrip, banks and buyout firms, heavily shorted stocks and retail-investor cult favorites seen as close to the incoming regime ( Tesla and Palantir shares, for instance). The Goldman Sachs basket of the most-shorted stocks jumped around 10% from Nov. 5 through last Monday to its highest level in two years. The ratio of call options to puts bought surged to its highest level since January 2022 last Tuesday. For a moment there, aggression got the better of discretion. Still, in a more substantive repricing of growth expectations, financial, industrial and consumer-cyclical stocks have also led the way, adding to what had already been months of relative outperformance. Last week most of the speculative plays went to the bench for a breather, while mega-cap tech continued to struggle for traction, taking the broad S & P 500 down 2% for the week. This looks on the chart, for now, like an orderly settling-back of a slightly stretched index, though it did take the benchmark back to below where it opened on Nov. 6 and returned it to the pre-election highs set in mid-October. This retracement does no notable damage to the longer-term trend and has prevented a more unstable momentum-chase higher, at least for now. .SPX 1M mountain S & P 500, 1 month The S & P is still about 3-4% above levels where chart readers would start to get more concerned about the underlying trajectory. The Nasdaq 100, which surrendered its leadership credentials in mid-summer, is now back at levels first reached in early July. In both the ramp to record highs a week ago and in the latest pullback, the action has been rotational rather than monolithic, a sorting of perceived winners from losers under a possible higher-metabolism nominal-growth environment should deregulation and anticipation of tax cuts hold the market’s attention into 2025. With the S & P 500 right back to its Oct. 18 closing level, it’s worth noting that the small-cap Russell 2000 is still up 1% from that date while the KBW Bank Index is 10% higher. Even in Friday’s 1.3% slide in the S & P 500, only two-thirds of all stocks were down on the day and the equal-weight S & P was off a modest three-quarters of a percent. 2-year bull market trend intact So, the market is trying to be discerning in its macro approach, reallocating toward cyclical exposure and reducing bets on possible government-spending-cut victims in defense and healthcare — all while allowing some of the frothier stuff to calm down around the margins. Even with these policy-tinted moves, the weight of the evidence on the key market drivers breaks down now roughly as it would if there were no election this month: Stocks have been in a steady uptrend for two years, and remain so. Corporate-earnings growth has begun to broaden out. Credit spreads are near the most generously tight levels of this cycle. Treasury yields were rising alongside upside economic-data surprises in a 2.5%-real-GDP-growth economy, and this has continued. For sure, some will argue the run higher in the 10-year Treasury yield to a four-month high above 4.4% and the climb in the ICE US Dollar Index to the top of its two-year range got extra oomph from the Trump win. It’s plausible, even probable, but any effect is more accelerant than inflection. Yields have largely responded to a diminished view of how much and how quickly the Federal Reserve will walk short-term rates down to some version of “neutral” policy. Above-trend GDP performance and the pause in the decline in measured inflation had Fed Chair Jay Powell last week saying policy makers were in “no hurry” to cut rates further . This has left the market pretty evenly split on whether another quarter-point comes in a month, following the total 0.75-percentage points of cuts in September and November. It should be emphasized that a Fed able to utilize the luxury of a solid economy to normalize rates deliberately is not in itself a negative for the economy or stocks. The much-glorified perfect soft landing of 1995 saw only three rate cuts over seven months before the Fed went on hold for more than a year as growth and the stock market flourished. Pencil that in as the ideal, if not the most likely, scenario for how this goes. Investors all-in? It makes sense that the market wasn’t able to summon a sustained thrust of exuberance after the election anxiety evaporated, given the somewhat demanding starting point. As noted here last week, the bull market is two years old, valuations are elevated, cyclical groups had already been outperforming, credit spreads have little room to squeeze lower and investor attitudes were more optimistic than fearful. The public is rather well-exposed to equities here, never mind what those pointing at $7 trillion in money-market assets say. Bank of America’s wealth-management clients have 63% in stocks, near the upper end of a 20-year range. This can, of course, keep rising with the market. And other measures of retail-investor aggressiveness such as margin-debt balances aren’t near dangerous extremes. Still, this argues against very many people “needing” to chase the tape higher. The initial post-election push higher in small-caps and unprofitable stocks momentarily took on the look of an early-cycle revival of macro energies and risk appetites. But the broader picture doesn’t quite fit into such a spot. Warren Pies, co-founder of 3Fourteen Research, took a hard look at whether this shift justified a move into riskier stocks, but he concluded otherwise. A more mature economic and risk cycle and vulnerability to higher rates among smaller, lower-quality stocks mean they aren’t likely to lead from here, Pies says. Still, just because the cycle has been rolling for a while doesn’t mean it’s nearly over, or that it can’t be given more life by growth-supporting policies – or even just the collective hopes for such policies. Wall Street strategists still skeptical It would be unusual to see a consequential market peak when Wall Street strategists continue to carry average and median targets below the present index level. Watch as the sell-side handicappers start to unveil their 2025 outlooks for signs of whether the bullish story is becoming oversubscribed. It would also be somewhat odd if a major top in risk assets occurred without a flurry of corporate deal-making and new equity offerings. Both mergers and IPOs have lagged badly as a percentage of market value and world GDP for a while. A vociferous consensus now expects capital-markets activity to reach a rolling boil before long. A very plausible case, though how much has the market already taken credit for? Here’s the past 20 years of Goldman Sachs’ valuation in the form of price-to-book-value, which has soared to a post-Global Financial Crisis high. The last time it was much higher, Goldman and its peers had few limits on balance-sheet leverage or proprietary trading and were putting up returns on equity twice their recent levels. Is the market presciently foretelling an unleashing of transactional fervor that will return Wall Steet’s middlemen to their former glory? Or might this be another sign, among several lately, of a kind of blinkered nostalgia taking hold among the masses?
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Helldivers in Shambles After Realising That Their Newly Launched Super ******* Is ******** Friendlies More Than the ******
Helldivers in Shambles After Realising That Their Newly Launched Super ******* Is ******** Friendlies More Than the ******
Helldivers 2 players are facing an annoying yet funny situation after weeks of anticipation for the Democracy Space Station (DSS). The DSS was announced as an orbital ******* that would be a game-changer in the Galactic War. After weeks of Major Orders for constructing it, the DSS is finally functional. But there’s a slght hiccup.
Players did all this work only to get blown up by the DSS. | Image Credit: Arrowhead Game Studios
The DSS has swiftly turned into a nightmare for the very soldiers it was designed to protect. Players find themselves caught under friendly ***** more often than their enemies. The community is now grappling with the irony of a ******* of Mass Liberation that’s wiping out more Helldivers than automatons.
Helldivers Are Going Through So Much Friendly *****
The DSS’s debut was supposed to be a moment of triumph. Players almost two months of Major Orders, donating Samples and Republic Points, to construct this superweapon. Accessible through the Galactic Map, it allows players to vote on its positioning and fund Tactical Actions like the Planetary Bombardment.
Unfortunately, these orbital strikes have been anything but precise. Many players have reported instances of entire squads being blown up mid-mission.
As one Reddit user says, “We made a Super ******* to ***** ourselves. Who thought that ******** where the players are at random would be a fun experience for the player?”
Arrowhead Studios, the developers behind Helldivers 2, acknowledged the issue almost immediately. In a statement, they admitted the DSS was causing “an unexpectedly steep increase in heroic sacrifices.”
TEMPORARY DSS AUGMENTATION
High Command has authorized augmentations to Helldiver loadouts while the Planetary Bombardment Tactical Action is active, in order to ameliorate an unexpectedly steep increase in heroic sacrifices.
This is a temporary change, while a full assessment… pic.twitter.com/riGt8WQj8u
— HELLDIVERS 2 (@helldivers2) November 15, 2024
As a temporary fix, all players deployed on DSS-affected planets now receive an extra life and a defensive shield generator in their loadouts. These changes are a good attempt from Arrowhead at helping players but they’re far from a solution. It may as well be a band-aid.
Good. The DSS is complete ***** so far. You can’t convince me that this was tested before it was released.
— Swany (@SwanyPlaysGames) November 15, 2024
The community has not held back in its critique. And Arrowhead still needs to fix core issue: the DSS’s lack of control and precision. The devs know that though. They are making a full assessment of the situaton and will most likely introduce ******* changes soon.
Updates Are Coming! The Friendly ***** Will End!
Fans know that there’s potential. Arrowhead just needs to make it work. | Image Credit: Arrowhead Game Studios
In a more humorous tone players have started treating the orbital strikes from the DSS as another environmental hazard rather than a tactical advantage. They compare it to bad weather conditions like firestorms.
A Twitter user jokingly sad, “Translation: Too much friendly *****.” Meanwhile, other players also jokingly suggested using these DSS strikes exclusively to troll unsuspecting squads.
Comment byu/NizzyDeniro from discussion inHelldivers
Not all responses have been negative, though. Some see potential in the DSS if its ********** is refined. The voting mechanism, which lets players decide where the station is deployed, has been praised for fostering community engagement. “The DSS concept is great, but the ********** is poor,” a Reddit user said.
Despite the backlash, the DSS still has some *****,. Its integration of player voting and community decision-making aligns with the cooperative spirit of Helldivers 2. With further adjustments, the DSS could become a valuable tool in the Galactic War.
But as it stands, players are hesitant to rely on it for anything beyond comedic chaos.
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Three Mile Island nuclear turning point as Big Tech influence grows
Three Mile Island nuclear turning point as Big Tech influence grows
Cooling towers at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
MIDDLETOWN, Pa. — The owner of the Three Mile Island nuclear power plant is embarking on an ambitious plan to restart operations before the end of the decade, marking the latest chapter in the history of a plant that symbolizes the future promise, past struggles and lingering fears of nuclear energy in the ******* States.
The twin cooling towers that stretch hundreds of feet above the Susquehanna River just south of Middletown, Pennsylvania, went dormant in 2019 after billowing water vapor into the sky for four decades. Its owner at the time, Exelon, permanently shut down the Unit 1 reactor, citing “severe economic challenges.”
Unit 1 is one of a dozen reactors that closed in the U.S. over the past decade as nuclear industry struggled to compete against cheap and abundant natural gas. But the fortunes of the industry have shifted dramatically this year as deep-pocketed technology companies turn to nuclear power to meet the tremendous electricity consumption of their future business: artificial intelligence.
Constellation Energy, the plant’s current owner, plans to restart Unit 1 in 2028, subject to monitoring and approval by the Nuclear Regulatory Commission. Constellation, headquartered in Baltimore, spun off from Exelon in 2022; it has the nation’s largest fleet, or group, of nuclear power plants, operating 21 of the 94 reactors in the U.S.
“This is a plant that we ran and ran very well,” plant manager Trevor Orth told the NRC at an Oct. 25 meeting. “We shut it down. We understand how we shut it down, and we have a good idea of how we’re going to restart this.”
The main control room of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
While Constellation will restore the plant, it will ditch the name Three Mile Island. The plant will be rechristened the Crane Clean Energy Center, after the late CEO of Exelon, Chris Crane. Constellation said the restart will cost $1.6 billion, financed by the company’s own funds.
(Take a deeper look inside the Three Mile Island nuclear power plant here.)
Microsoft has made the restart of Unit 1 possible through an agreement to purchase the full electricity output from the plant for 20 years, a sign of the growing role the tech sector is playing in shaping the future of the U.S. power industry.
Microsoft said the agreement is part of its strategy of meeting the growing electricity needs of its data centers with power that is free of carbon dioxide emissions in an effort to mitigate the impact of its business on the climate.
Part of a control panel at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Those data centers are playing a critical role in the U.S. economy, housing servers that run the cloud computing that businesses and consumers now rely on for life’s digital daily tasks. They are also essential for the development of artificial intelligence, technology that is viewed as critical for the nation’s future economic competitiveness and national security.
With four years until the planned restart, one of the big uncertainties is whether Constellation can deliver the power to Microsoft on time. Nuclear projects are notoriously plagued by long delays, big cost overruns and cancellations. But Unit 1 is in good condition and Constellation is confident the plant will restart on schedule, said Bryan Hanson, the company’s chief generation officer.
Most of the restoration at Unit 1 will be normal maintenance work that Constellation conducts regularly on its fleet of nuclear plants, Hanson said during an Oct. 30 tour of the plant.
“Not an ounce of concrete needs to be poured, not one piece of rebar needs to be tied, not one cable needs to be pulled. The infrastructure is here,” the executive said. “The challenge of delays — I don’t see it.”
A control panel in the main control room of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Constellation’s decision to restart Three Mile Island follows Holtec International’s decision to restart its Palisades nuclear plant in Michigan. Palisades is poised to become the first reactor to restart operations in U.S. history in 2025 after shutting down.
Holtec has plans to nearly double the power capacity of the facility in the 2030s by building two small modular reactors, next-generation technology that promises to make nuclear plants less costly and easier to deploy.
Amazon and Alphabet’s Google recently announced investments in small modular reactors.
While Constellation has not committed to building a small modular reactor at any of its plants yet, Hanson said the company is open to working with the tech sector to build new nuclear reactors in the U.S.
“If our customers come to us again, like a Microsoft, and say ‘we want to help you build new nuclear’ — we’ll probably join hands and figure out a way to do that,” Hanson said.
Lingering fears
Unit 1 is a short walk from the site of the worst nuclear accident in U.S. history.
The partial meltdown of the Unit 2 reactor at Three Mile Island in 1979 had a chilling effect on the development of new nuclear plants in the U.S. Unit 2 has not operated since the accident and is being decommissioned by its current owner, Energy Solutions, a private nuclear services company.
Unit 1 operated safely and efficiently before it was shut down for economic reasons, said Mike Goff, acting assistant secretary for the Office of Nuclear Energy at the Department of Energy.
But Pennsylvania state Rep. Thomas Mehaffie said his constituents have mixed feelings about the restart of Unit 1, particularly those who are old enough to remember the accident at Unit 2.
Pennsylvania state Rep. Tom Mehaffie speaks in front of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
“Of course people who were here during that time frame, who are older — there is concern. There always has been concern,” said Mehaffie, who represents the communities around Three Mile Island at the state legislature in Harrisburg. Mehaffie’s father was a union electrician who helped build the nuclear plants.
Hanson said the nuclear industry has learned from this chapter of its history.
“The 1979 accident taught us that our standards weren’t right at the time,” Hanson said. The U.S. nuclear industry today has the best safety, reliability and operational standards in the world, he said.
While some constituents have concerns, others see the economic value that the restart will bring, Mehaffie said. The restart of Unit 1 will bring an estimated 3,400 jobs to the region, according to a study by the Pennsylvania Building & Construction Trades Council.
Grid reliability
The planned restart of Three Mile Island is also a step to help ensure the region’s electric grid ******** reliable, Mehaffie said. Unit 1 will bring back 835 megawatts of carbon-free electricity, equivalent to the consumption of more than 600,000 homes, at a time when the grid is on the brink of faltering.
Electricity demand is outpacing supply, as power plants, particularly those that run on coal, are retired faster than new capacity is built, grid operator PJM Interconnection warned in July. PJM operates the grid in Pennsylvania and 12 other states.
“Grid reliability is everything,” Mehaffie said.
PJM has forecast that electricity demand will surge nearly 40% by 2039 due to the expansion of data centers, manufacturing and the electrification of industry and transportation. Meanwhile, 40 gigawatts of power generation is at risk of retirement by 2030; that’s about 21% of PJM’s installed capacity.
“We’re seeing potentially catastrophic early retirements of dispatchable resources,” Mark Christie, a commissioner at the Federal Energy Regulatory Commission, said during a public hearing Nov. 1.
A cooling tower at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Federal energy regulators are worried that tech companies’ pursuit of deals that redirect power from the electric grid directly to their data centers could exacerbate supply shortages and threaten grid stability.
Microsoft said the electricity it will be purchasing from Unit 1 will feed into the grid and will not directly power its data centers. Microsoft is committed to bolstering the grid as it secures power for its data centers, said Alistair Speirs, senior director of global infrastructure for Microsoft’s Azure cloud platform.
“When we operate in the community, if we’re not stabilizing, adding resiliency to the grid, then it’s hard for us to keep our social license to operate,” Speirs said.
Microsoft is not involved in the physical restoration of the plant, Hanson said, but Constellation is providing status reports to the company.
Restoration and restart timeline
Constellation ***** out how it plans to restart the plant in the company’s first public meeting with the Nuclear Regulatory Commission on Oct. 25. While Wall Street is generally bullish on the restart, Citi has cautioned that Constellation could face challenges in completing the project on schedule.
“Given the regulatory and physical challenges, we assume that [Constellation] is likely to experience some delays and cost overruns to ******** on the restart,” Citi analyst Ryan Levine told clients in an Oct. 14 note.
Citi initiated coverage of Constellation with a neutral rating in October on delay concerns. Constellation’s stock has gained more than 90% since the start of the year and 12% since the Three Mile Island restart was announced Sept. 20.
Levine is an outlier. The vast majority of analysts rate the stock a buy or strong buy, with the average price target predicting more than 23% upside.
The turbine deck of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Hanson said crucial and expensive equipment such as the steam generators and main power generator have undergone inspection and maintenance by Constellation and are in good condition.
The steam generators were replaced in 2009 and are ready for restart, he said. The internals of the main power generator, built by General Electric nearly 50 years ago, were replaced a little over a decade ago, he said. The main generator has been cleaned and needs some routine maintenance, he said.
The plant’s main power transformers need to be replaced at a cost of $75 million to $100 million, Hanson said. The transformers are on order with delivery expected in late 2026, he said.
One of the cooling towers has been gutted and will be refurbished. The analog control room will remain the same with the exception of some rewiring, Hanson said.
The simulator that mimics the control room also needs to be restored so plant operators can be trained there. One of the most critical items for restoring plant operations is training operators for NRC certification, a process that takes about 18 months, Hanson said.
The turbine deck of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Constellation is currently prohibited from operating and loading fuel into the reactor vessel because the plant was permanently shut down. Constellation plans to file an exemption request in November that would remove these restrictions if approved by the NRC.
“That will officially mark the start of our restart activities,” Dennis Moore, senior manager of licensing at Constellation, told the NRC.
Constellation plans to file a request to change the plant’s name from Three Mile Island to the Crane Clean Energy Center in February. Later in 2025, Constellation will submit filings on the plant’s technical specifications, environmental impact, emergency plan, and site security plan for NRC review, the company said.
Constellation intends to send an operational readiness letter to the NRC by July 2027. The company would then begin testing and return to power if the NRC determines that the plant is ready to operate and authorizes placing fuel in the reactor.
In the meantime, Constellation does not need NRC permission to “start turning wrenches and doing restoration work” at the plant, said Scott Burnell, a spokesperson for the regulator. The NRC will be monitoring the work to make sure the regulator’s requirements are met, Burnell said.
The restarts at Three Mile Island and Palisades will likely secure NRC approval, Goff said.
“They are an independent agency, but I expect if the safety cases are presented, they’re going to approve it,” Goff told CNBC in September.
Don’t miss these energy insights from CNBC PRO:
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Social care ‘impasse’ at top of government
Social care ‘impasse’ at top of government
BBC
Sir Keir Starmer’s first five months have produced little sign of a plan for Labour’s promised National Care Service – and now I’m told there is a “genuine impasse” at the top of government over what to do about social care.
Health Secretary Wes Streeting publicly acknowledges “we can’t solve the NHS crisis” without improving what a government source describes as an “appalling” situation, in a system that’s meant to look after vulnerable and elderly adults in England.
But multiple sources tell me the Treasury is deeply nervous about the cost and that the prime minister is yet to make a decision on how to proceed.
Talks have so far ******* to decide even whether to hold another review of the system. “Dither, dither, dither,” said one insider involved in the discussions.
But another source said: “Everyone wants to fix it but we don’t want to embark on something that then doesn’t happen.”
I understand the prime minister, health secretary and the Chancellor Rachel Reeves are due to meet a week on Monday to try to make some progress.
What options do they have?
There is little controversy about the scale of the problem in social care, the system that helps older and disabled people with day-to-day tasks like washing, dressing, getting out of bed, eating and medication.
There are as many as 500,000 people waiting for care. Council budgets are stretched, some teetering on the edge of bankruptcy, in part because of care costs. As the population ages, thousands upon thousands of people are stuck without the care they need, and thousands more stuck in hospital because there isn’t the support they need at home.
Labour has given little detail on what its National Care Service would look like, but long-term reform would likely aim to address the shortage of care, the length of waiting lists, and the costs for people who don’t qualify for free care, which can be crippling for families.
Ministers are considering whether to create a Royal Commission to look at the issue or a government-backed independent review, tipped to be led by the straight-talking Whitehall troubleshooter Dame Louise Casey.
The advantage of a Royal Commission? It’s not party political, so theoretically can bind every politician to back its solutions and make the warring parties work together.
The downside? It could take two or three years, pushing possible fixes to the urgent problems until after the next election.
An independent review of a year to 18 months could change things quicker. Without the kudos of the King, any plans would be easier for opposition politicians to ******* – but Labour has a once-in-a-generation majority to vote through big reforms.
There are nerves, however, at the top of government about what any review might recommend. If it suggests an expensive new system quickly, then that would need billions in extra tax. Does the government have a mandate for that in this parliamentary term, having ruled out changes to the main tax rates?
If a review process took longer, would any political party want to go into the next election asking voters to pay more – even for the best of reasons, a shiny new social care system?
‘Same old stalemate’
In truth, conversations about the process are only a symbol of the actual dilemma – not just what to do, but how to pay.
The Department of Health wants to get on with the process. The Treasury agrees that it’s a very serious problem that the government ought to fix (and people caught up in the system, often stuck in hospital, are costly to the whole NHS too). Yet the chancellor is understood to be nervous about the cost of any fix, which would run to many billions.
One source told me: “The Treasury is the block.” But a department insider rejects that characterisation, and says: “No one doubts the issue is huge, but any solution is expensive – everything is a trade-off.”
Others suggest Reeves wants reform but also wants to be sure of a full political backing from the neighbours at No 10. So it’s suggested both Streeting and Reeves are looking to Sir Keir.
Getty Images
A No 10 source told me the prime minister is “animated by solving the issue and is keen to proceed”, hence the meeting planned with the health secretary and chancellor in the next fortnight. The source denies the accusation of “dither”, saying it takes time to work out the right moves.
There is no suggestion this is a bruising split between ministers.
But another source familiar with the process told me: “As soon as the election was out of the way we went back into the same old stalemate.” In other words, the Department of Health says please, the Treasury says no, and No 10 wants more time to think.
‘It’s almost too late’
Inside the care sector itself, one leader says people are “worn” by the debate between different parts of government when the need for change is urgent. Another care source tells me “it’s already almost too late” and is upset at how the industry has been treated so far.
They say existing government plans and the decisions in the Budget have made life *******. Asking care providers to pay the extra costs of employers’ national insurance means that, effectively, “public services are charged to pay for a ****** ***** in (you guessed it) public services”, they say.
The NHS itself will be exempt from those increased costs but, as things stand, not-for-profit organisations including some care charities providing public services will have to pay.
A group of them have written to the chancellor as part of a grassroots campaign called Providers Unite, warning the increased payments could top £1bn. They have asked Reeves to look again at the changes or face “a systematic collapse of community care services across Britain”.
The chancellor told us after the Budget she “wasn’t immune” to pleas from particular sectors, but there is no chance of her reversing the whole policy.
On top of charging more National Insurance, ministers are creating a negotiating body to improve pay and conditions for care staff. While the industry is broadly supportive of that aim, it will increase costs, and many believe they just can’t cover it without extra funding.
There is an obvious eagerness for the government to get on with the conversation about how to fix the system that cares for the most vulnerable adults in the long term. But, wearily, a source told me conversation in the industry is “so dominated by funding emergencies now, [long-term reform] is second order”.
Pressure builds for a decision
When the prime minister, Streeting and Reeves sit down to consider what to do about social care in a week or so, don’t expect a sudden revelation or a shiny new plan. One source told me – in a line worthy of the sitcom Yes Minister – that the trio might “decide to decide, decide to delay deciding, or… decide not to decide”. But the pressure is building on them to make a call.
While the Conservatives promised then ******* multiple times to follow through with big changes to the system, the newly emboldened Lib Dems put social care right at the centre of their successful election campaign.
It’s the party’s signature issue, and rarely a day goes by without them pursuing a political opportunity to press the case. The Lib Dem leader Sir Ed Davey, who will join me on tomorrow’s show, said that any investment in the NHS would be an “expensive ********” without social care reform.
“Ministers need to get a grip, and quickly,” he said. “The cross-party talks we’ve been campaigning for should start now, but there are urgent actions the government should take regardless,” such as a higher minimum wage for care workers.
Few in government would deny that a solution for social care is long overdue. Few in government would deny that patients are being let down, and families are being left without the support they need. And few in government would deny that Sir Keir’s mission to sort out the NHS is hampered by a lack of action.
A source familiar with the dilemmas told me it “beggars belief” that minsters can talk about giving the NHS extra billions and promising reform without doing the same for social care.
Yet nobody wants to repeat previous governments’ pattern, where plans were drawn up, pitched to the public, then ditched (the Scottish Government has again shelved plans for its promised National Care Service).
This time, according to one of the sources, “we all have to go into it with our eyes open”.
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The First Descendant – Nexon 30th Anniversary Coupon Event Info
The First Descendant – Nexon 30th Anniversary Coupon Event Info
Nexon writes: “To celebrate Nexon’s 30th anniversary, we have prepared a coupon event for The First Descendant.
We sincerely thank you for all the support since launch.”
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Activist ValueAct is poised to trim ****, help boost profits at Meta. Here’s how
Activist ValueAct is poised to trim ****, help boost profits at Meta. Here’s how
Jonathan Raa | Nurphoto | Getty Images
Company: Meta Platforms (META)
Business: Meta Platforms builds technologies that help people find communities and grow businesses. The company’s products enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables and in-home devices. The company operates through two segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp and other services. RL includes augmented and virtual reality-related consumer hardware, software and content. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers. Instagram is a place where people can express themselves through photos, videos and private messaging. Messenger is a messaging application for people to connect with friends, family, groups and businesses across platforms and devices.
Stock Market Value: $1.39T ($554.08 per share)
Stock Chart IconStock chart icon
Meta Platforms in 2024
Activist: ValueAct Capital
Ownership: n/a
Average Cost: n/a
Activist Commentary: ValueAct has been a premier corporate governance investor for over 20 years. ValueAct principals are generally on the boards of half of ValueAct’s core portfolio positions and have had 56 public company board seats over 23 years. ValueAct has previously commenced activist campaigns at 26 information technology companies and has had an average return of 54.63% versus 30.16% for the Russell 2000 over the same *******.
What’s happening
Behind the scenes
ValueAct has extensive experience in mega-cap technology companies, most notably Microsoft and Salesforce. ValueAct CEO Mason Morfit was on the board of Microsoft from March 2014 through the end of 2017 as the tech giant transformed into a cloud-based enterprise software business and went from a $250 billion market cap company to more than $3 trillion today. At Salesforce, when a handful of activists were engaging, the company opted to add Morfit to its board on Jan. 27, 2023, and the stock has more than doubled since then.
Now, ValueAct has engaged another titan of the market, Meta Platforms, announcing an approximately $1 billion dollar position in the company. Meta’s products enable people to connect and share through various platforms and devices, including mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices. The company operates through two segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes social media applications such as Facebook, Instagram, Messenger and WhatsApp, while RL includes augmented and virtual reality-related consumer hardware, software and content. This has been an extremely volatile year for Meta’s stock price — with dips below $400 per share and highs above $600 — giving ValueAct many opportunities to acquire its position at a favorable price. With the stock price up about 56% in 2024, ValueAct still sees significant untapped value in Meta.
Meta is expected to deliver $30 in EPS by 2026, which at a 20-times multiple would put the company at approximately $600 per share. This EPS can be broken down into the company’s two segments: $40 EPS from its core FoA segment and -$10 EPS from the RL segment. This would place the valuation of Meta’s core FoA business at $800 per share, while its RL segment would be valued at -$200 per share, or a $400 billion drain on the company’s valuation. This -$10 EPS from the RL segment is made up of -$7 from the RL division and -$3 from AI spending. ValueAct has shown at Microsoft and Salesforce that it is very good in helping companies trim **** and build muscle. There is certainly some **** in the RL division that can be trimmed. The AI spending, while concerning to some in the market, can be the muscle that strengthens Meta’s core FoA business. AI will provide benefits to many companies, but one of its best uses is to create value in consumer internet and matching-based business models that are monetized by connecting their vast audiences to relevant content or services, such as such as Spotify, Indeed.com and Expedia. When AI and GPU computing power are applied to these business models, it can lead to significant improvements in matchmaking and monetization. This is because at the end of the day, AI – even generative AI – is just pattern spotting and pattern recognition, so its application can inherently enhance user-product matching and preference alignment. Meta can be one of the biggest beneficiaries of this market in its core FoA business with respect to delivering content and optimizing advertising. The second lever for AI growth for Meta is the impact of how developers are using large language models (LLMs) to create technologies. Developers are increasingly using multiple LLMs within the same project, so they rely on tools that enable different models to work together. Currently led by OpenAI and Microsoft, companies are competing to control the tools used to layer these LLMs, which are necessary to run and develop new technologies. To enter this market, Mark Zuckerberg has open-sourced Meta’s “LLaMA” model, a high-performance AI model designed to compete with OpenAI’s GPT and Microsoft’s Copilot. The decision to open-source LLaMa has helped build Meta’s role in the AI ecosystem by driving LLaMA adoption. It should more than justify Meta’s AI spend. So, if Meta continues to bleed the RL division at the same pace and gets absolutely no value from its AI spend, it will have a $600 stock in 2026. However, if ValueAct can do what it has been able to do at Microsoft, Salesforce, Adobe and others – help grow the muscle and trim the **** – RL’s -$7 should decline substantially and AI’s -$3 will be money well spent and be a significant value creator, as opposed to a drain on value as the market attributes today. Even a neutral valuation ($0 EPS) for RL/AI would place Meta at $800 per share, implying 40% growth from its current price. And if AI prospects become positive, which seems very plausible given these potential avenues of growth, RL/AI should actually contribute to EPS growth. Thus, 40% growth almost becomes a floor that underscores the significant upside for Meta.
This is not ValueAct taking a “flyer” on AI. First of all, ValueAct is a very thoughtful and diligent investor and doesn’t take “flyers.” Second, ValueAct has extensive experience from both sides of AI. The firm has been in the boardroom at companies like Microsoft and Salesforce, two of the largest developers of AI. And the firm has been an active shareholder at companies like Spotify, The New York Times, Expedia and Recruit (Indeed.com) some of the largest users and beneficiaries of AI. So, when ValueAct invests in AI, it isn’t just ***** balling. The firm thoroughly understands AI and how its customers can use it.
When thinking about how ValueAct will approach this engagement going forward, we must address the elephant in the room: Meta is a controlled company, with Mark Zuckerberg holding approximately 61% of the company’s voting power. While most activists would never bother with a controlled company for obvious reasons, ValueAct actually has a strong track record of creating value at controlled or quasi-controlled companies, including engagements at Martha Stewart Living, The New York Times, 21st Century Fox, Spotify and KKR. In these situations, ValueAct averaged a return of 124.12% compared to an average of 30.79% for the relevant market benchmark. This is because ValueAct understands that activism is about the power of the idea; the power of the argument; the power of persuasion. As such, even in its investments in non-controlled companies, the firm almost always only takes one board seat because it is confident that its ideas will resonate. However, given Meta’s controlled structure, we don’t expect ValueAct to push as hard for a board seat here as it might at other portfolio companies. In a controlled company you can almost be as effective as an active shareholder as you can as a director. That being said, given ValueAct’s track record of board success, particularly at other mega-cap technology companies, shareholders would be well served if Meta added a ValueAct representative to the board.
Ken Squire is the founder and president of 13D Monitor, an institutional research service on shareholder activism, and the founder and portfolio manager of the 13D Activist Fund, a mutual fund that invests in a portfolio of activist 13D investments.
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Lotto: One West *********** more than $2.5 million richer after division one win in Saturday’s draw
Lotto: One West *********** more than $2.5 million richer after division one win in Saturday’s draw
Another WA player has struck Saturday Lotto luck, securing a life-changing win of more than $2.5 million.
The West *********** and one other player from across the country will pocket a staggering $2,519,100.97 each from division one’s prize pool.
More luck was felt in division two, with 47 players taking home more than $12,000 each.
The winning numbers for draw #4521 are 6, 5, 8, 44, 29 and 38. The Supplementary numbers are 1 and 9.
The ******* of luck comes as WA’s third week of consecutive division one wins in the Saturday draw.
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The First Descendant Hotfix 1.1.8
The First Descendant Hotfix 1.1.8
The 1.1.8 Hotfix fixed some errors and changed two important features: the Private/Public server switch and Explosive Barrels.
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Halvorsen’s Viking Global opened stakes in two turnaround stories in Q3
Halvorsen’s Viking Global opened stakes in two turnaround stories in Q3
Ole Andreas Halvorsen’s Viking Global bought into two big, second-half turnaround stories in the third quarter. The Norwegian-********* billionaire’s hedge fund opened positions in Starbucks and Tesla sometime during the three months ended Sept. 30, the latest regulatory filing shows. Those bets — worth more than $100 million each — appear to be paying off as the pair have lately rallied. Halvorsen bought almost 1.7 million Starbucks worth $162 million during the quarter. The coffee chain lured Brian Niccol away from Chipotle in August to serve as its new chief executive starting in September. The appointment gave investors hope that Starbucks could fix issues plaguing its business. Starbucks shares surged more than 24% the day of the announcement, its best day ever. That rally accounted for almost all of Starbucks’ third quarter gain of more than 25%. So far in the fourth quarter, shares have risen less than 1%. (By comparison, the S & P 500 has added nearly 2% in the quarter.) Despite that enormous move one day in August, Starbucks shares are up about 2.5% in 2024, underperforming the S & P 500’s advance of around 23%. The average analyst polled by LSEG has a buy rating, with a price target suggesting shares will rise less than 2% over the coming year. Tesla rebound Tesla ‘s recovery revolved around CEO Elon Musk, the world’s richest man, who during the summer emerged as the most prominent backer of President-elect Donald Trump’s bid for the White House. Musk went on to donate an estimated $200 million to Trump’s campaign , supporting the *********** daily on social media and appearing at campaign rallies. Trump this week named Musk to co-head an office focused on government efficiency. Tesla surged more than 32% in the third quarter, and shares have climbed almost 23% so far in the fourth. Though Tesla slumped 29% in this year’s first quarter, the electrical vehicle maker has now climbed 29% in 2024. For their part, Wall Street’s sell-side analysts see those gains disappearing, with their consensus price target implying more than 28% downside over the next year, according to LSEG. Still, the average analyst rates Tesla a buy. TSLA SBUX YTD mountain Tesla and Starbucks, year to date To be sure, both Starbucks and Tesla are relatively small positions for Halvorsen, an alumnus of the late Julian Robertson ‘s Tiger Management. Viking Global’s stake in U.S. Bancorp , for example, Halvorsen’s largest single position, grew by more than 32% in the third quarter, and was worth more than $1.5 billion at the end of the quarter. Visa , Charles Schwab and Bank of America were other stocks that Halvorsen opened positions in during the September quarter. Stocks that Viking Global zeroed out in the quarter ranged from Meta Platforms to Dollar Tree to UnitedHealth .
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Nexon Has Some Serious Improvements in Mind for the Reactors in The First Descendant
Nexon Has Some Serious Improvements in Mind for the Reactors in The First Descendant
As it stands, you need a ton of resources to modify the ******* mounting on your Ultimate Reactors. Still, it is a massive improvement from the random-drop-only mechanic we had until recently. But Nexon is not stopping there.
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What Trump’s proposed China tariffs could mean for Apple’s profits
What Trump’s proposed China tariffs could mean for Apple’s profits
President-elect Donald Trump’s proposed tariff strategy could spell bad news for the tech hardware market, but Tim Cook’s Apple might not feel as much of the pain. On the campaign trail, the former president vowed to impose a universal tariff of between 10% and 20% on all imported goods and at least a 60% tariff on goods from China. Yet, some analysts say that Apple’s high ****** profit margins may provide a buffer, unlike other companies with smaller margins that also have extreme exposure to ******** manufacturing. “While AAPL is thought of as the ‘poster-child’ for leveraging ******** manufacturing, and thus most at risk if tariffs were to be instituted, they don’t face the most significant [earnings per share] headwind in our coverage given they have a higher ****** margin than peers, which limits the incremental tariff impact,” Morgan Stanley analyst Erik Woodring told clients in a note this month. AAPL YTD mountain AAPL, year-to-date That reassurance comes as Apple has been underperforming the stock market’s ‘Trump plays’. For instance, Tesla – which soared nearly 15% the day after the election – has jumped almost 28% in the eight trading days since the vote. Apple over the same span has barely budged. The iconic iPhone and iMac maker has also underperformed the rest of the market for the entire year thus far. While Apple has gained almost 17% this year, the S & P 500 has advanced about 23%, excluding reinvested dividends. ***** out of earnings During Trump’s first term in office, Apple dodged tariffs on its core products when the U.S. reached a trade agreement with China that exempted some consumer goods made in that country – such as phones and computers – from the charges. But assuming there are no exemptions for Apple this time around, Morgan Stanley foresees an EPS loss for the company of 5.5% under a 15% tariff on U.S.-bound imports from China. Under a 25% tariff on goods from China, the Wall Street investment bank sees an EPS loss for Apple of 9.2%. Those estimates make Apple the fifth most vulnerable tech company to potential tariffs on goods from China in Morgan Stanley’s research coverage. “Ultimately, it’s a negative,” CFRA Research analyst Angelo Zino told CNBC. “It’s going to somehow eat into Apple’s earnings, whether it be through potentially lower volume if they push through it or via just lower margins if they were to absorb some of the cost.” Still, Zino believes any impact could be relatively muted – and potentially offset by moves by the president-elect to put the Department of Justice’s lawsuit against the company in limbo. “This is a company with, I’d say, greater pricing power than just about any other company out there,” Zino continued. “If you get this tariff across the board, it probably impacts, in my view, Apple less than it does others out there from a negative perspective.” Bank of America analyst Wamsi Mohan agrees, seeing any tariff impact as “manageable.” He sees a 60% tariff on ******** goods possibly resulting in about a 4% hit to Apple’s EPS. That’s if Apple opts against raising prices in the U.S. in response to tariffs. If Apple chooses to raise prices by 10% to pay for higher tariffs, the Bank of America analyst said it would have an even smaller, “negligible” impact on earnings. As a result, he has a buy rating on the stock, and his price target of $256 implies nearly 14% upside from Friday’s close. Others, like Bernstein analyst Toni Sacconaghi, forecast about a 7% hit to Apple’s EPS. By contrast, Dell – which he noted looks positioned to be “most vulnerable” to tariffs – could see an EPS impact of up to about 90%, according to his model. Apple appears “less vulnerable than most might believe,” Sacconaghi said, thanks to its already high profit margins. He has an overweight rating on the stock and a 12-month price target of $240, which would equal more than 6% upside ahead, as of Friday’s close. How could Apple respond It’s also possible the Trump administration could continue granting exemptions for Apple after the inauguration on Jan. 20. If not, Apple could still mitigate any impact by expanding its manufacturing in other countries, such as India – which it’s already begun to do. Last fiscal year, Apple doubled the number of iPhones it makes in India, producing $14 billion worth. The company makes 14%, or about 1 in 7, of its iPhones there. “If a new tariff is imposed on imports from China, Apple could have its manufacturing partners ramp up production in India and ship to the U.S. from there,” BofA’s Mohan told clients in a recent report. “The same applies to other Apple products that are manufactured in countries outside of China, including Vietnam, Malaysia and others.” At the end of the day, Mohan assumes that 80% of all Apple products sold in the U.S. could be sourced from countries outside China. Partly for that reason, Jason Snipe of Odyssey Capital Advisors is sticking with Apple. Tariffs aside, he points to future iOS updates with the release of the iPhone 17 – notably, the incorporation of new Apple Intelligence features – as the catalyst for another sales “supercycle.” “It might be in a trading range for a little while,” the chief investment officer told CNBC. “But I do think once the focus shifts, the new administration comes in, all this tariff talk starts to quiet down some, I think that’s when people will start to say, ‘Wait a minute, I think Apple has legs.'”
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2025 Lexus ES facelift revealed in China
2025 Lexus ES facelift revealed in China
A ****-and-tucked Lexus ES sedan has been unveiled in China sporting a revised grille and lights, as well as a much larger touchscreen in the cabin.
Up front there’s a new insert for the spindle grille that has horizontal slats instead of vertical ones, redesigned headlight internals with double L-shaped driving lights, and larger fake side air intakes.
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At the rear, the tail-light graphics have been updated to include the car’s new double-L signature. There are also tweaks to the lower bumper garnishes, and the Lexus word mark replaces the brand’s L-in-a-circle logo.
Step inside, and the big change is the adoption of the brand’s 14.0-inch infotainment touchscreen, at the bottom of which is climate control strip with physical knobs on either end. The current car has a less spacious 12.3-inch display.
To accommodate the larger screen setup, the central vents have been moved to the bottom of the main section of the dashboard.
Camera IconSupplied Credit: CarExpert
In China there are two drivetrain choices: the ES 200 with a 127kW/206Nm 2.0-litre four-cylinder coupled to a continuously variable transmission driving the front wheels, and the ES 300h with a 160kW hybrid setup featuring a 2.5-litre four-cylinder petrol engine and Toyota’s e-CVT system.
The front-wheel drive hybrid drivetrain is carried over from the ES currently in showrooms, and isn’t the upgraded 170kW system seen in latest Toyota Camry.
The current *********** ES range kicks off with the ES 250, which has a 152kW/243Nm naturally-aspirated 2.5-litre four-cylinder engine, before stepping up to the ES 300h.
Camera IconSupplied Credit: CarExpert
Although the updates unveiled this week in at the Guangzhou motor show haven’t been confirmed for markets outside of China, it’s high likely the ES you seen here will soon grace Lexus forecourts across Asia, the US, Europe, and Australia.
Lexus typically completely renews the ES every five to six years, but this is the second facelift for the seventh-generation ES, which debuted back in 2018. This latest update should keep it fresh enough to soldier on for a few more years before a new model is released.
If rumours are correct, the eighth-generation ES will include an all-electric variant. It might even look similar to the spindle grille-free sedan teased a few years back when Toyota and Lexus teased their array of electric vehicles under development.
Stay tuned to CarExpert for more details about the revised ES as they announced for Australia and other global markets.
MORE: Everything Lexus ES
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***** is Us is Looking Absolutely Crazy
***** is Us is Looking Absolutely Crazy
If war is the closest we get to ***** on earth, it’s because Earth harbors the worst of demons: humankind.
Discover the first Gameplay footage of ***** is Us , an action-adventure game set in a war-torn country, where players must unravel the mysteries of their past and confront the human darkness that fuels the chaos.
***** is Us will be available on PlayStation 5 in 2025.
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‘Best-in-class’ stocks are surging so buy them quick, Bank of America says
‘Best-in-class’ stocks are surging so buy them quick, Bank of America says
Analysts at Bank of America say there is a host of buy-rated stocks set to outperform heading into the remainder of 2024. The Wall Street investment bank says these companies are best positioned to gain and are ******* on all cylinders. CNBC Pro combed through Bank of America research to find stocks the bank believes are “best-in-class.” They include Carvana , ESAB, Netflix , Texas Roadhouse and Johnson Controls . Netflix Everything is “on track” for the streaming giant following its earnings report in October, according to BofA. Profit margins are rising and the company is making the right investments to maintain its longstanding streaming leadership, according to analyst Jessica Reif Ehrlich. “Also, NFLX’s existing scale advantage is bearing fruit as healthy revenue growth and cost discipline are driving operating leverage, leading to an increased 2024 margin outlook to ~27%,” she said. The bank says Netflix is well positioned for more upside as earnings per share momentum is poised to outperform in coming quarters. “In our view, Netflix ******** one of the best positioned companies within media & has several growth drivers, including the accelerating ramp of its burgeoning ad business which is expected to double in ’25 and become a multi-year growth driver in ’26 and beyond, along with Gaming, Live & Sports,” Reif Ehrlich went on to say. Shares are up 69% this year. ESAB The fabrication technology welding company is too attractive to ignore, analyst Sherif El-Sabbahy says. “The firm continues to compound even in a weak manufacturing backdrop,” he wrote of the company. ESAB is “thriving in a tough backdrop,” as free cash flow continues to expand, according to El-Sabbahy. Further, BofA says ESAB is well positioned domestically and internationally with more market share gains on the horizon. A robust balance sheet also affords plenty of room for further growth, he added. Meanwhile, shares are up 43% this year, with El-Sabbahy maintaining ESAB as a top pick. He called ESAB a “best in class compounder with short cycle upside.” Texas Roadhouse Analyst Sara Senatore is sticking with shares of the Texas-themed restaurant following earnings in late October. “As beef prices continue to prove more favorable than expected, TXRH is well-positioned to maintain restaurant-level margins even as pricing rolls off in [fiscal] 2025,” she wrote. BofA says Texas Roadhouse benefits from low staff turnover, innovative technology and same-store sales that continue to improve. In addition, Senatore called traffic growth “best-in-class” with month-to-month improvement even as the wider industry battles numerous headwinds. Shares of the company are up 62% this year with plenty of room to run, Bank of America says. “We believe Texas Roadhouse has a long growth runway, with room to expand its store count in the U.S. by 70% to about 1000 stores,” Senatore went on. Netflix “3Q: Everything ******** on track Netflix is a global leader in the streaming market offering a best-in-class subscription and advertising video on demand service to more than 280mn subscribers in over 190 countries. … Also, NFLX’s existing scale advantage is bearing fruit as healthy revenue growth and cost discipline are driving operating leverage, leading to an increased 2024 margin outlook to ~27%.” ESAB “Best in class compounder with short cycle upside. … The firm continues to compound even in a weak manufacturing backdrop. … As [the] manufacturing economy gradually recovers, we expect ESAB to compound earnings and [free cash flow] to drive further multiple expansion. Reiterate Buy. Thriving in a tough backdrop, with a [balance sheet] for growth.” Carvana “The company ******** in growth mode, with best-in-class eCommerce growth driven by market expansion and greater ************ in existing markets. We think the company is well positioned for high levels of sustained growth long term and see upside potential in the medium term given strong inventory levels, resilient consumer demand and [a] North America car production shortage.” Texas Roadhouse “As beef prices continue to prove more favorable than expected, TXRH is well-positioned to maintain restaurant-level margins even as pricing rolls off in F25. … TXRH [offers] best-in-class traffic trends & topline growth and … further operating leverage. … We believe Texas Roadhouse has a long growth runway, with room to expand its store count in the U.S. by 70% to about 1000 stores.” Johnson Controls “Best-in-class data center assets and change is coming. … We believe data centers to be one of the more profitable verticals. … We see the JCI story as combining self-help and structural outgrowth driven by smart buildings controls and software. We see the new CEO as a positive catalyst.”
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Vince Vaughn revealed the money moves he made to rocket his wealth — now he’s worth $75M. How to copy him in 2025
Vince Vaughn revealed the money moves he made to rocket his wealth — now he’s worth $75M. How to copy him in 2025
Vince Vaughn revealed the money moves he made to rocket his wealth — now he’s worth $75M. How to copy him in 2025
Vince Vaughn made a name for himself in Hollywood by starring in some of the biggest comedies of the 2000s. But instead of squandering his success, Vaughn took a different path: protecting his earnings through smart investments.
“I was fortunate to make money at my profession, and I didn’t want to lose it,” he explained in an interview with business coach JT Foxx.
Accredited investors can become the landlord of Walmart, Whole Foods or Kroger — and benefit from regular distributions without lifting a finger. Here’s how
Car insurance premiums in America are through the roof — and only getting worse. But less than 2 minutes can save you more than $600/year
These 5 magic money moves will boost you up America’s net worth ladder in 2024 — and you can complete each step within minutes. Here’s how
Unlike many of his colleagues, Vaughn took an active interest in managing his finances, noting, “There were so many actors I knew who were intimidated and didn’t deal with it.”
Vaughn took the initiative, making his first major investment in gold. “So I thought, I want tangible assets. First, I bought some gold, but there’s no passive income off of it,” he recalled.
Gold is indeed a tangible asset — and a well-known hedge against inflation. The reason is simple: unlike fiat currencies, the precious metal can’t be printed in unlimited quantities by central banks. However, as Vaughn discovered, gold doesn’t generate income on its own.
To create that steady income stream he was after, Vaughn turned to real estate. “So I just started to buy some small buildings that I could rent out,” he said. “And I knew that the buildings would go up in price. I’d have some money coming in passively from it.”
By purchasing small rental buildings, Vaughn tapped into two powerful advantages of real estate: passive income and the potential for appreciation. As tenants pay rent, he collects income that doesn’t require daily work.
Plus, because property values and rental income tend to rise alongside the cost of living, real estate serves as a reliable hedge against inflation.
After his initial foray into real estate, Vaughn expanded his portfolio. He began “buying a bunch of farms” and acquired properties in Florida, targeting “areas that were getting nicer.”
Looking back, Vaughn emphasizes the importance of continuously building knowledge and learning from each investment. “I think the more you spend time on it and get a feeling for what you think is doing well, you get better each year,” he remarked.
Story Continues
Vaughn’s strategic investments have served him well. His net worth is now estimated at $75 million, according to Yahoo.
The good news? You don’t need Hollywood funds to start building wealth through real estate. Real estate investment trusts (REITs) and crowdfunding platforms have made it easier than ever for everyday investors to gain exposure to the real estate market with minimal upfront capital.
REITs are companies that own income-producing real estate across various sectors, such as residential, commercial, or industrial properties, and they pay out the majority of their profits as dividends, allowing investors to earn income without directly managing properties.
Crowdfunding platforms, meanwhile, offer a way to buy fractional shares in specific properties or projects, often with investments as low as $100.
Read more: Rich, young Americans are ditching the stormy stock market — here are the alternative assets they’re banking on instead
While gold doesn’t offer the passive income Vaughn was after, it ******** a popular choice for investors as a hedge against economic uncertainty and inflation.
In 2024, gold prices surged by 33%, surpassing $2,700 per ounce. Investors often turn to precious metals like gold and silver during periods of market volatility or global instability, as their value isn’t tied to any particular currency or economy.
Gold is frequently considered a “safe-haven” asset because it tends to perform well when other investments, like stocks, face downturns, offering a form of insurance in an investor’s portfolio.
Economist Peter Schiff sees substantial further upside for gold. “If gold can go from $20 an ounce to $2,600 an ounce, it can go from $2,600 to $26,000, or even to $100,000. There’s no limit because, again, gold isn’t changing — it’s the value of the dollar that’s decreasing,” he recently stated.
It’s easy to invest in gold. Investors can purchase gold bullion, own shares of gold mining companies, invest in gold ETFs and even tap into potential tax advantages through a gold IRA.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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APEC: Albanese calls on partners to rise to climate challenge as he leaves 2035 timeline vague
APEC: Albanese calls on partners to rise to climate challenge as he leaves 2035 timeline vague
Anthony Albanese will tell Asia-Pacific partners they have an “unprecedented chance” to benefit from climate change, but has ******* to commit to setting Australia’s 2035 emissions reduction target before the next election.
The election of Donald Trump has thrown the future of global climate change action in doubt, given his intention to pull the ******* States out of the Paris Agreement and roll back clean energy investment.
Against that backdrop, the Prime Minster will make an intervention at the last session of APEC on Saturday morning (local Peru time) where he will ask regional partners to stay the course.
He will call for economies to take greater action to cut their emissions, and talk up the role the region has to “seize the opportunities” of the net zero transition.
“Acting on climate change and embracing clean energy is both the most significant challenge and the biggest opportunity facing all our citizens,” he will say.
“And if we can work together through APEC to forge new co-operation and achieve new progress, then the enduring value and power of this forum will be demonstrated.”
Both APEC and next week’s G20 forum in Brazil have climate high on the agenda. Both summits coincide with COP 29 in Azerbaijan, where this week *** Prime Minister Keir Starmer committed his country to an 81 per cent emissions reduction target by 2035, an update from the previous government’s 78 per cent target.
Camera IconAnthony Albanese will tell Asia-Pacific partners they have an “unprecedented chance” to benefit from climate change, but has ******* to commit to setting Australia’s 2035 emissions reduction target before the next election. Credit: News Corp Australia
Speaking at the summit, Sir Keir said the new *** target would be “difficult” but “achievable”, and he wanted government to “tread lightly on people’s lives”.
When Mr Albanese was asked on Friday if he was willing to be more ambitious with Australia’s own 2035 target, the PM pointed to the 2030 target his Government legislated when it came to power.
But despite the Government having previously indicated it would release its 2035 target by February, Mr Albanese when asked would not commit to setting that figure before the next election – due by May.
“We’re committing to our 2035 target. It’s legislated, and 2030 comes before 2035, and we’re very focused on delivering and we’re on track to delivering that target,” he said.
In his APEC intervention on Saturday, Mr Albanese will stress the importance of shoring up supply chains, saying the “turmoil of the past few years” had underscored that “energy security is economic security”.
He will also outline his ambition for Australia to become a renewable energy “superpower” that helps power the region’s growing economies.
He will say APEC needs to “build a new model for economic and scientific co-operation”, and while recognising every country will chart the course differently, “our ultimate destination is the same”.
The PM will also talk up his Government’s work to strengthen and streamline clean energy investment, comments that come days after he suggested Australia stood to benefit should the incoming Trump Administration wind back the net zero transition.
“We’re also working to strengthen and streamline investment in renewable energy projects. This is about attracting new international investment in Australia, and it’s about catalysing new investment in our region.”
Mr Albanese will leave Peru on Saturday afternoon (local time) before travelling to Brazil for the G20 summit.
He hopes to meet ******** President Xi Jinping on the sidelines.
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Stalker 2 gets updated system requirements on Steam that reveal even the devs suggest using DLSS
Stalker 2 gets updated system requirements on Steam that reveal even the devs suggest using DLSS
Additionally, Farming Simulator 25 launches this week with day-one support for DLSS Super Resolution. Mortal Rite is out now with DLSS Super Resolution. And our new Indiana Jones and the Great Circle GeForce RTX 40 Series GPU and laptop bundle is available now.
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Gigabyte Z890 Aorus Master Motherboard Review: ATX with 14 USB ports, incredibly fast memory support
Gigabyte Z890 Aorus Master Motherboard Review: ATX with 14 USB ports, incredibly fast memory support
Below, we’ll examine the details of the Z890 Aorus Master and determine whether it deserves a spot on our Best Motherboards list. But before we share test results and dig deep into the board’s features, below are the specifications from the Gigabyte website.
Gigabyte’s Z890 Aorus Master is a premium motherboard that supports Intel’s new Arrow Lake processors. The board also receives a facelift, an additional PCIe 5.0 x4-capable M.2 socket (now two), Thunderbolt 4 (40 Gbps) Type-C ports, additional ‘EZ’ features, and AI overclocking. Priced at $599.99, the MSRP did go up from the Z790 mid-lifecycle update Aorus Master X ($550), but it stands up well to the direct competition.
Gigabyte has several Z890-based SKUs in the product stack—in fact, the company has the most, at 18. We won’t list all of them here, but you’ll see all the familiar faces and more. This includes Micro ATX and Mini-ITX boards and prices ranging from $179.99 (Z890M Gaming X) to the Z890 Aorus Extreme ($999.99+?). They also have several white versions of some boards, which cost the same as their darker counterparts. We’d be surprised if you can’t find a motherboard that works for you with all the available options from Gigabyte.
Testing on the Z890 Aorus Master went well. Even with settings similar to those of other boards, the Aorus Master sipped on the power comparatively, with performance varying depending on the tests. Gaming performance was solid in our two titles, while the other benchmarks generally mixed in with the other Z890 data we’ve gathered so far.
Specifications of the Gigabyte Z890 Aorus Master
Swipe to scroll horizontally
Socket
Intel (LGA 1851)
Chipset
Z890
Form Factor
ATX
Voltage Regulator
21 Phase (18x 110A SPS MOSFETs for Vcore)
Video Ports
(2) Thunderbolt 4 (Type-C)
Row 5 – Cell 0
(1) HDMI (v2.1) – Front
USB Ports
(2) Thunderbolt4 (40 Gbps) Type-C
Row 7 – Cell 0
(6) USB 3.2 Gen 2 (10 Gbps)
Row 8 – Cell 0
(4) USB 3.2 Gen 1 (5 Gbps)
Row 9 – Cell 0
(2) USB 2.0 (480 Mbps)
Network Jacks
(1) 10 GbE
Audio Jacks
(2) Analog + SPDIF
Legacy Ports/Jacks
✗
Other Ports/Jack
✗
PCIe x16
(1) v5.0 (x16/x8)
PCIe x8
✗
PCIe x4
✗
PCIe x1
✗
DIMM Slots
(4) DDR5-9500+(OC), 256GB Capacity
M.2 Sockets
(2) PCIe 5.0 x4 (128 Gbps) / PCIe (up to 110mm)
Row 20 – Cell 0
(1) PCIe 4.0 x4 (64 Gbps) / PCIe (up to 110mm)
Row 21 – Cell 0
(1) PCIe 4.0 x4 (64 Gbps) / PCIe (up to 80mm)
Row 22 – Cell 0
(1) PCIe 4.0 x4 (64 Gbps) / PCIe/SATA (up to 80mm)
Row 23 – Cell 0
(Supports RAID 0/1/5/10)
SATA Ports
(4) SATA3 6 Gbps
Row 25 – Cell 0
(Supports RAID 0/1/5/10)
USB Headers
(1) USB v3.2 Gen 2×2 (20 Gbps) Type-C
Row 27 – Cell 0
(2) USB v3.2 Gen 1 (5 Gbps)
Row 28 – Cell 0
(2) USB v2.0 (480 Mbps)
Fan/Pump Headers
(10) 4-Pin (CPU, System fans)
RGB Headers
(4) aRGB Gen 2 (3-pin)
Row 31 – Cell 0
(1) RGB (4-pin)
Diagnostics Panel
EZ Debug Zone
Row 33 – Cell 0
(1) Debug Port (2-character)
Row 34 – Cell 0
(1) Debug LEDs
Internal Button/Switch
(1) Power button
Row 36 – Cell 0
(1) Reset button
SATA Controllers
✗
Ethernet Controller(s)
(1) Marvell AQtion AQC113C (10 GbE)
Wi-Fi / Bluetooth
Intel Wi-Fi 7 BE200NGW (2×2- 320 MHz, 6 GHz, BT 5.4)
USB Controllers
Realtek RTS5411S, RTS54361, RTS5464
HD Audio Codec
Realtek ALC1220 w/ESS Sabre9118 DAC
DDL/DTS
✗ / DTS:X Ultra
Warranty
3 Years
Inside the Box of the Gigabyte Z890 Aorus Master
Gigabyte includes a handful of accessories inside the box to help deliver a positive building experience. You get the typical collection of SATA cables, a quick-connect Wi-Fi antenna, and a couple of other useful items, including the DDR Wind Blade to cool off your high-speed RAM. Below is a complete list of the extras.
Wi-Fi Antenna (w/EZ-plug)
(2) Thermistors cables
(2) SATA cables
G-Connector
Microphone
DDR Wind Blade (RAM fan)
Installation guide
Stickers
Design of the Z890 Master
Image 1 of 3
(Image credit: Gigabyte)
(Image credit: Gigabyte)
(Image credit: Gigabyte)
The Aorus Master has always been a good-looking motherboard, which does not change with Z890. We still see large, oversized heatsinks with the Aorus branding on top, illuminated by RGB LEDs. The bottom of the board uses a large plate-style heatsink with a brushed finish and some reflective chrome highlights on the chipset heatsink with the Master branding and Aorus motto of “Team up, ****** On” emblazoned on those shiny parts. For the first PCIe 5.0 M.2 socket uses a much larger individual heatsink while the rest use a simple plate heatsink, and all using EZ clips to remove. The Aorus falcon flexes proudly between the PCIe slots while another RGB strip lights up the bottom part of the board. Ultimately, we like what we see, and the updated aesthetic blends in with most build themes.
(Image credit: Gigabyte)
The first item we encounter on the top left is the two (one required) 8-pin EPS connectors to power the processor. Next to them is the first 4-pin fan header, with the other nine (yes, nine!) above the RAM slots and along the bottom edge. Each header supports PWM and DC-controlled devices, with power output all the same at 2A/24W. The 10 total fan headers are the most I’ve seen on a consumer board, and there is plenty of power to go around. Control over these headers is managed through the BIOS or Gigabyte Control Center’s (GCC) Fan Control application.
Next, we run into the four RAM slots with locking mechanisms on both sides to secure your memory kit. Gigabyte offers support for up to 256GB and speeds up to DDR5-9500(OC), one of the fastest we’ve come across for the platform. We had no issues running the fastest kits in-house (DDR5-8200) without issue and, at least on paper, there’s a lot of headroom left. Above that are four more fan headers, and immediately to the right are the first (of two) 2-pin headers for thermistors.
In the right corner, we see the first two (of four) 3-pin ARGB headers, with the other two located along the bottom edge. There’s also a 4-pin RGB header at the bottom, too. Control over the integrated and attached RGBs comes from GCC and the RGB Fusion app. There are several canned LED effects, many of which you can tweak the speeds and colors to your liking, or just shut them all off when you need to.
Moving down the right edge, we run into the two-character Debug port and the four-LED POST debugger, which helps to identify any issues that arise during POST. Just to the left are convenient power and reset buttons. Next, we find the 24-pin ATX connector to power the board, a front-panel USB 3.2 Gen 2×2 (20 Gbps) Type-C header, and two 19-pin front-panel USB 3.2 Gen 1 (5 Gbps) ports. If the 14 USB ports on the rear IO somehow aren’t enough, there are plenty for the front panel as well.
(Image credit: Tom’s Hardware)
The Z890 Aorus Master’s VRM consists of 21 phases, 18 for Vcore, that will easily handle any processor you put on it. Astute readers may recognize this is fewer than the last generation, but these processors are also more efficient. Power comes from the dual 8-pin EPS connectors, then onto the familiar Renesas RAA229130 PWM controller. From there, we ran into the 18 Renesas R2209004 SPS MOSFETs rated at 110A each in a ‘twin’ configuration. Again, there is plenty of power, even when overclocking the flagship part like our Core 9 Ultra 285K. CPU temperatures will limit you before the power delivery does.
(Image credit: Gigabyte)
On the bottom half of the board, hiding under the metal shroud, is a high-quality audio solution using the Realtek ALC1220 codec and an ESS SABRE9118 DAC. It’s a flagship-class audio solution that most users should be satisfied with. Even though this is one of the better audio solutions, we would like to see the latest codec like its peers use.
In the middle are three full-length PCIe slots, all using some form of reinforcement. The top slot sports Gigabyte’s UD Slot X reinforcement and a PCIe EZ Latch button to remove the card easily. The top connects through the CPU and is the sole PCIe 5.0 x16 slot. Using a lesser UD Slot reinforcement (note that’s non-X), the bottom two slots connect through the chipset and run up to PCIe 4.0 x4 and x1 (middle and bottom) speeds. There is some lane sharing. When M2D_CPU (the second 5.0 x4-capable M.2 socket) is populated, the top/CPU-connected slot drops to x8 speeds. Outside of that, it’s smooth sailing.
Five M.2 sockets hide under the heatsinks on the bottom of the board, each using the M.2 EZ Latch to secure your device without those tiny screws. You get two PCIe 5.0 x4 (128 Gbps) sockets and three PCIe 4.0 x4 (64 Gbps) sockets. If you own or plan to buy a SATA-based M.2 module, you’re in luck, as one of the sockets, M2M_SB, supports PCIe and SATA devices. If your use case requires redundancy or additional storage speed, the Aorus Master supports RAID0/1/5/10 modes on the NVMe drives.
Past the chipset, along the right edge, we see an HDMI port that can monitor the system with the Sensor Panel application (monitor required). Below are four SATA ports (supports RAID0/1/5/10) and two more 4-pin fan headers.
Across the bottom of the board are several exposed headers. You’ll find the typical stuff here, including additional USB ports, RGB headers, etc. Below is a complete list, from left to right.
Front panel audio
(2) 4-pin RGB headers
3-pin RGB header
DB sense
TPM header
(2) USB 2.0 headers
(3) System fan headers
2-pin temperature sensor header
Clear CMOS jumper
Reset jumper
Front panel
(Image credit: Gigabyte)
One of the first things you’llnotice on the rear IO is that it’s stuffed with USB ports – 14 in total. You get the two Thunderbolt 4 (40 Gbps) ports that also double as video outputs, six USB 3.2 Gen 2 (20 Gbps, all Type-A) ports, four USB 3.2 Gen 1 (5 Gbps) ports, and two USB 2.0 ports. On the left are the Clear CMOS and Q-Flash Plus buttons to reset the BIOS or update it (even without a CPU).
On the right are the Marvell 10 GbE port, the quick-connect Wi-Fi 7 antenna headers, and a basic audio stack with line out, microphone, and SPDIF optical output. Outside of the sheer number of USB ports and some venting for the VRMs, there’s nothing out of the ordinary here.
MORE: Best Motherboards
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