Plus: EIG Global Energy Partners plans to raise $225 million for its first geothermal energy fund. And Momenta is poised to gain market share as China continues to adopt advanced driver-assistance systems, a Citi analyst says. Julie Chang hosts.
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[00:00:01] Here's your afternoon TNB Tech Minute for Friday, September 25. I'm Julie Chang for The Wall Street Journal. A federal appeals court in Washington upheld the Defense Department's decision to designate Anthropic a security risk. In a two-to-one decision, the court found that Defense Secretary Pete Hegseth had the latitude to take action against Anthropic under the law.
[00:00:22] It noted that Anthropic's refusal to allow its AI tools for autonomous weapons or mass surveillance could undermine military operations. Anthropic had argued that the supply chain risk designation was a retaliation against the company for disagreeing with the Defense Department in contract talks. An Anthropic spokeswoman said it disagrees with the court's decision and is considering all options.
[00:00:46] EIG Global Energy Partners plans to raise up to $225 million for its first fund dedicated to geothermal energy. EIG Geothermal Catalyst Partners will back developers using advanced extraction techniques. The Washington-based firm has secured about $150 million so far and made its first investment in Power Planet, which is developing a geothermal project in Nevada.
[00:01:13] For decades, geothermal developers primarily drilled wells to tap natural underground heat sources to generate electricity. But recently, startups adapted oil and gas techniques, like hydraulic fracturing and directional drilling, to create enhanced geothermal systems.
[00:01:30] And a city analyst says Momentum is poised to gain market share as China rapidly adopts advanced driver assistance systems and the robo-taxi and robo-van market scales up. Founded in 2016, Momentum developed self-driving systems for passenger vehicles and robo-taxis.
[00:01:50] The city projects Momentum's share of the urban navigation-assisted driving market could rise to about 30% by 2030, up from 12% in the first half of this year. And that's it for your TNB Tech Minute. Tune in tomorrow for a special bonus episode on regulation around AI mental health tools. Tune in tomorrow for a special bonus episode on regulation around AI mental health and robo-van-based