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NYC heat wave? No problem. Stay cool in this breathable tennis dress.

The $24 million pledge is the latest deployment of capital under JPMorgan’s $1.5 trillion, 10-year "Security and Resiliency Initiative".

Pennsylvania Data Centers Face Increased Oversight Under New Law

By Diana DiGangi of UtilityDive

Pennsylvania's Democratic Governor Josh Shapiro, signed a budget Sunday which will require data centers to report their exact water and power usage annually to the state. It also requires the PJM Interconnection to give Pennsylvania state regulators additional insight into its demand forecasting.

“The current process by which utilities submit information to PJM lacks transparency for policymakers, regulators and stakeholders,” states House Bill 1924, which was folded into Pennsylvania’s 2026-2027 budget. “There is a need for oversight by the Pennsylvania Public Utility Commission to ensure accuracy and transparency of load-forecast inputs.”

Data centers in the state will now be required to compile an annual report containing information such as their “estimated average amount of energy usage per hour during the data center’s peak load,” the provision states.

The provision in the budget also requires data centers to submit total energy consumption for the previous calendar year, an estimate of the projected total energy demand for the following year, and “any measures undertaken to generate electricity on site or off site to reduce carbon emissions or impacts on the electric grid, including the specific energy source, and any potential future measures to generate electricity or other form of energy on site or off site,” it states. 

Data centers that fail to comply with the new reporting requirements will be fined $10,000 per day until their report is submitted, according to the budget.

The state Department of Environmental Protection will publish an annual report on the “aggregate energy consumption and water consumption trends for data centers operating [in the state], including environmental impacts and recommendations to address identified issues.”

Data center development in Pennsylvania has boomed, with utility PPL Electric reporting in May that its “advanced” stage data center pipeline had jumped 12% in three months, from 25.2 GW to 28.3 GW expected by 2034.

The PJM language in the budget will help state agencies “better understand future electricity needs as demand continues to increase,” said state Sen. Gene Yaw, R, who sponsored the original legislation, in a Monday release.

Shapiro was one of the PJM state governors who in September threatened to pull their states out of PJM’s markets unless they were given a role in governing the organization. “If PJM refuses to change, we will be forced to go in a different direction,” he said. “That is not a path that I am eager to chart, but I am not willing to stand idly by and let PJM dictate our future.”

An October memo about the legislation, circulated by Yaw and Sen. Nick Miller, D, said that “the process by which utilities and load-serving entities submit information to PJM is opaque, and policymakers, regulators, and stakeholders lack confidence in the data’s reliability.”

The Pennsylvania PUC “showed one utility is projecting its load to grow over the next 9 years by over 200% while the next closest utility was at 11% over the same period,” the memo said. “Such a wide disparity raises questions about how Pennsylvania utilities are evaluating requests for new service from large customers and relaying that information to PJM.”

The legislation gives the Pennsylvania PUC the authority to “review and validate load forecasts submitted by Pennsylvania utilities to PJM,” “coordinate with PJM and other state regulators to ensure accuracy and prevent duplicative counting of projects and contracts,” and “access all relevant materials necessary to carry out this oversight,” the memo said.

Tyler Durden Wed, 07/15/2026 - 13:00

LeBron James is leaving the Lakers, but the organization does not appear ready to send Bronny James out the door with him. The team does not view the father and son as an inseparable package now that their historic run together is over in Los Angeles, according to The Athletic. LeBron’s departure after eight years...

Harry and his family visited his cancer-stricken father last week, despite initial issues with security concerns.

Harry and his family visited his cancer-stricken father last week, despite initial issues with security concerns.

SpaceX Shares Fall Below $135 IPO Price, But The Real Story Is Its Bonds

SpaceX has slipped below its much-hyped $135 IPO price, and down 40% from the all time high hit during the June 15th gamma squeeze when the stock surged above $220 if ovenright trading, an "inevitable outcome" according to Bloomberg, which lends some validation to the skepticism surrounding "a valuation that always relied more on imagination than observable fundamentals."

Wall Street’s price target estimates spanned from roughly $60 to $800 (from Raymond James), a forecast that was 5x above the IPO price...

... a remarkable range that underscored just how little conviction existed around intrinsic value, and where all the upside is based on the Musk "story.".

As Bloomberg's Brendan Fagan writes, "when analysts cannot even agree within hundreds of billions of dollars on what a company is worth, valuation becomes an exercise in storytelling rather than finance." Not like that should have been a surprise: after all, this was expected from the journey that Tesla shares have been on.

While the recent price action does not settle the debate over SpaceX’s long-term potential, but it does suggest the market is becoming less willing to pay almost any price for that uncertainty.

But while the SPCX stock price is notable, the real story is not in the stock but rather the company's brand new $25BN bonds due 2056, which have been a one-way street lower since breaking for trade on June 24...

... and which now yield a junkbond-esque 7.5%. 

The issue here, no pun intended, is that the rout of particular bond has pushed the Goldman hyperscaler bond basket to a new record wide as we noted earlier... 

Hyperscaler bond basket: another day, another record wide https://t.co/Ge41UpsaL9 pic.twitter.com/nssT8MoTeH

— zerohedge (@zerohedge) July 15, 2026

... and prompted Bloomberg to paraphrase what we said over the weekend, in its "Before the Bell" this morning, writing that "Signs of Hyperscaler credit stress has reached the highest since Goldman Sachs launched the basket in February. The data-center building boom has sparked an explosion of debt funding, with investors not paying enough attention to the terms of their lending."

For those who missed it, here is our article from this weekend "Carnage" In The Hyperscaler Bond Market: Did Goldman Just Pop The AI Debt Bubble, in which we explained that the bond market is almost at capacity, and will barely be able to digest any more bond issuance. Which, in a world where trillions in future capex have to be funded almost entirely by new debt issuance...

The corporate bond market threw a tantrum at "just" $250bn in IG bonds YTD.

So how do we get to $8 trillion... or $4.https://t.co/pA7aONbtiy https://t.co/8PamQYA6FH

— zerohedge (@zerohedge) July 15, 2026

... is suddenly a very big problem.

Tyler Durden Wed, 07/15/2026 - 12:44

Back by pop-ular demand.

Legionnaires' Cases Rise In Manhattan's Upper East Side As Dozens Of Cooling Towers Test Positive

Authored by Kimberley Hayek via The Epoch Times,

New York Health officials have identified dozens of cooling towers in Manhattan’s Upper East Side that tested positive for traces of Legionella bacteria, as Legionnaires’ disease cases reached 63 as of Tuesday. So far, 12 people are currently hospitalized, and 40 have been discharged from the hospital.

The New York City Department of Health and Mental Hygiene published a list this week detailing building cooling towers where initial PCR tests were positive for the bacteria.

Owners must drain, clean, and disinfect those cooling towers immediately. Many have already completed the work, with a few pending, according to numbers published by officials.

The towers with positive PCR results, according to the health department’s July 14 update, include 60 East End Avenue, 100 East End Avenue, 180 East End Avenue, and a long string along Madison, Park, York, and Fifth avenues, plus blocks of East 78th through 95th streets.

A handful still show cleaning pending, including 80 East End Avenue and 90 East End Avenue. The department posted exact addresses and street numbers, down to 300 East 83rd Street, which had an unregistered tower.

Confirmed cases climbed to 18 by July 5, an increase from 10 just days prior. They are clustered in ZIP codes 10028, 10128, and 10075, which are located in Yorkville and Carnegie Hill, as well as a stretch east of Central Park.

No deaths have been reported thus far.

Symptoms for legionnaires’ disease include fever, chills, cough, and muscle aches, and it spreads when people inhale mist from contaminated water, not from person-to-person contact. The symptoms usually appear 2–10 days after exposure, according to the U.S. Centers for Disease Control and Prevention.

The disease is treatable with antibiotics. Nonetheless, approximately 1 in 10 cases can be fatal, especially in older adults, smokers, and those with weakened immune systems or chronic lung disease. Cooling towers on rooftops are often the source of these outbreaks through warm, stagnant water.

Health Commissioner Dr. Alister Martin urged people to be on the lookout for symptoms.

“Any New Yorkers who currently live or work in this area or people who have visited the area since late June and are experiencing flu-like symptoms, such as cough, fever, or difficulty breathing, should contact a health care provider immediately,” the department said in an earlier statement.

“This is not an issue with any building’s plumbing system,” the health department noted.

Legionnaires’ disease is a form of pneumonia caused by Legionella bacteria, which thrive in warm water. It produces flu-like symptoms, and if left untreated, complications can become serious or even fatal.

When multiple cases emerge within a neighborhood—known as a community cluster—the exposure often traces back to sources such as cooling towers, hot tubs, or spray fountains. When cases cluster within a single building instead, the source is usually the building’s plumbing system, particularly its hot water system. In these situations, residents can be exposed to the bacteria through water mist while showering.

Last summer, a cluster in Central Harlem made 114 people sick and killed seven. That one was also connected to cooling towers.

Tyler Durden Wed, 07/15/2026 - 12:40

The veteran CBS News journalist will debut "Healthful" on July 22, marking her latest role at the network.

Nolan Wells' cellphone will undergo a "mutual inspection" by authorities and independent experts after suspicions were raised that content on the device may have been deleted, his family's lawyer has said.

Livvy Dunne is addressing her animated game day self while watching boyfriend Paul Skenes pitch.

Don’t expect this dog to lose his bite anytime soon. 

The order for arrest that was issued for Bill Belichick's daughter-in-law earlier this week has been recalled.

Philly fan interrupts Zack Hample with boos as he films video at All-Star Game.

Alibaba's Qwen AI Will Be Integrated Into Apple Phones In China Amid Push For Local Models

Apple is starting to take cost-cutting (and Chinese supply chains) very seriously.

Just days after reports that the smartphone giant will use China's DRAM pioneer CXMT (which just priced its IPO) for local memory as a cheaper alternative source to ridiculously overpriced DRAM sourced from the memory cartel triad of Samsung, SK Hynix and Micron, this morning Reuters reported that BABA Qwen AI - much cheaper but just as efficient as most US frontier models - will be integrated into Apple Intelligence in China.

US-listed shares in of Alibaba rose 6% on Wednesday after the company confirmed to CNBC that the Qwen AI model will be integrated into Apple systems in China. 

“Qwen will be integrated into Apple Intelligence experiences within iOS, iPadOS, macOS, and visionOS for users in China,” an Alibaba spokesperson told CNBC. 

The Cyberspace Administration of China included Apple AI services on a list of approved providers, which included products from homegrown companies like Huawei.

The decision follows a long route to a Beijing greenlight for Apple’s AI service since the offering was first announced in 2024. In that time, the technological rivalry between the US and China has intensified as both countries race for dominance in AI.

The Apple-Qwen integration gives users the ability to access the model’s capabilities, “like text and image understanding and generation, without needing to jump between tools,” the Alibaba spokesperson added.

It comes after CNBC reported that Apple is in talks with a small Silicon Valley company that says it can shrink powerful artificial intelligence models enough to run directly on an iPhone, the startup’s CEO told CNBC on Tuesday. PrismML, a Khosla Ventures-backed spinout from the California Institute of Technology, publicly released compressed versions of Alibaba’s open-source Qwen model on Tuesday. The company said it reduced the model from roughly 54 GB to less than 4 GB, allowing all 27 billion of its parameters to run on an iPhone 15 or newer.

Meanwhile, in a stealthy push for local (i.e., "on your cell phone") models, earlier this week Bloomberg reported that Apple's planned M7 Ultra chip is being designed to support up to 1.5 TB of unified memory and to push AI performance toward the class of Nvidia's Blackwell accelerators. Why? To give the company's upcoming local LLMs access to as much DRAM as possible so the company is not confined to the cloud.

Apple's M7 Ultra chip coming in 2029 is rumored to support 1.5TB of RAM.

This would make the processor much more capable for on-device AI. pic.twitter.com/7162RWZjpN

— AppleTrack (@appltrack) July 12, 2026

We previously looked at the Chinese LLM scene in two extended articles recently, the first one showing how rapidly China's open models are catching up to the latest frontier offerings in the US (see "Are Chinese AI models a better value than US models")...

... and the second one drilling down into each and every AI model in what we called the "definitive Chinese LLM primer."

Source: Goldman

We also did an extended overview of the Alibaba offering which increasingly appears primed to take on the leading US frontier models; the schematic is summarized below.

Source: Goldman

Much more in the full reports (here and here).

Tyler Durden Wed, 07/15/2026 - 12:20

Costco has expanded its food court offerings and is now delivering this hot, fried fan favorite to its food courts nationwide.

The duo announced their separation in May 2024 after nearly a decade of marriage, with Dorit filing for divorce in April of the following year.

The duo announced their separation in May 2024 after nearly a decade of marriage, with Dorit filing for divorce in April of the following year.

A cockroach scurrying across a KTLA reporter's chest Tuesday night made viewers' skin crawl during the disgusting moment.