Skip to content

Elon Musk Just Ditched His Clean‑Energy Image With a Billion‑Dollar Fossil‑Fuel Play

Stocks & Finance

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

When it comes to Elon Musk, the world's richest person is well-known for clean energy initiatives that include bets on electric vehicles, solar power, energy storage and more. These days, Musk is having to turn to fossil fuels to help power his AI ambitions.

With growing energy demand needed for the Grok chatbot, which is owned by recently public SpaceX, Musk made an acquisition move.

A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and why

Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast

The world's richest person spent $1 billion to buy APR Energy, a gas turbine company that has a fleet of mobile gas and diesel turbines, according to a report from Electrek.

APR Energy totals more than 1 GW of generation capacity. According to the report, the company uses trailer-mounted gas turbines and diesel and natural gas engines that can be installed in days instead of the years it takes to build a traditional power plant.

Electrek highlights the quiet nature of the acquisition, which didn't have a press release, but was rather found through a Federal Trade Commission early termination notice. The deal has already cleared.

See Also: Avoid the #1 Investing Mistake: How Your 'Safe' Holdings Could Be Costing You Big Time

After years of being focused on solar power, electric vehicles and clean energy, the growth of xAI, Grok and other Musk-owned businesses has forced the entrepreneur to turn to fossil fuels.

In Memphis, there are gas turbines running the Colossus and Colossus 2 supercomputers for xAI, according to the report. Those supercomputers help power Grok.

Tesla quietly dropped "sustainable" from its mission statement late last year.

The power crunch fueling the next stages of AI growth is pushing even clean-energy champions like Musk toward the fastest available source — in his case, gas.

Photo: bombermoon / Shutterstock

Skip the Regrets: The Essential Retirement Tips Experts Wish Everyone Knew Earlier.

Think you're saving enough for your kids? You might be dangerously off — see why

Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That's why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn't tied to the fortunes of just one company or industry.


Source: Yahoo Finance Top News — This article was automatically imported from the source. Read full article at original source →

YA
Originally published by Yahoo Finance Top News finance.yahoo.com
Visit original article

admin

Leave a Comment