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xAI Rolls Out Data Center Dividend For Residents Around Memphis Colossus

xAI Memphis, Elon Musk's supercomputing and data center complex in the Memphis metro area - better known as Colossus - appears to be testing a version of the "data center dividend" for residents in the surrounding community.

The offer of Starlink service with no upfront hardware costs and a substantial monthly discount appears to be an attempt by xAI to turn local goodwill into political insulation, as AI data centers face growing scrutiny over soaring power demand, grid strain, and other neighborhood-level impacts.

"As SpaceX continues to invest in the area, SpaceX is offering our neighbors in the Memphis area no upfront hardware costs on Residential @Starlink kits for new customers and a discount on home internet service plans for both new and existing customers," Starlink wrote on X.

Starlink wrote on its website, "The discount is half the standard monthly price and is applied automatically." 

Earlier this year, @SpaceX acquired @xAI (now SpaceXAI), which operates the Colossus datacenters in Memphis.

As SpaceX continues to invest in the area, SpaceX is offering our neighbors in the Memphis area no upfront hardware costs on Residential @Starlink kits for new customers… pic.twitter.com/BfnOHHPLOx

— xAI Memphis (@xAIMemphis) June 30, 2026

xAI describes Colossus as its AI training supercomputer, built in Memphis and pitched by Musk as one of the world's most powerful AI superclusters.

The project has become a major flashpoint because of its massive electricity demand. xAI has expanded from Colossus 1 in Memphis to Colossus 2 in Southaven, Mississippi, just across the state line, and has used natural gas turbines to supply power.

Left-wing environmental NGOs and the NAACP have sued xAI and its subsidiary, MZX Tech, alleging that some natural gas turbines were operated without proper air permits and could worsen pollution in nearby communities.

xAI's data center dividend to the local community around Colossus may only suggest that other forms of dividends offered to local communities could one day include monthly utility bill credits, grid upgrades, and infrastructure improvements.

Perhaps other data center operators should take note of what xAI is doing, given that half of U.S. data centers scheduled for construction this year could be canceled or delayed as local resistance mounts.

Tyler Durden Tue, 06/30/2026 - 21:20

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San Francisco Archdiocese Agrees To $395 Million Abuse Settlement

Authored by Owen Evans via The Epoch Times,

The Archdiocese of San Francisco has agreed to pay $395 million to settle more than 500 lawsuits alleging child sexual abuse by church officials, in what the plaintiffs’ lawyers described as the largest per-survivor settlement.

The plaintiffs’ attorneys said on June 29 that San Francisco Archbishop Salvatore Cordileone will have to write an apology letter to each survivor as part of the settlement.

The settlement also requires the archdiocese to implement a series of child protection and transparency reforms.

The settlement comes three years after the archdiocese filed for bankruptcy and will cover approximately 530 survivors of child sexual abuse.

It is the latest agreement over clergy sexual abuse claims. In 2024, the Archdiocese of Los Angeles agreed to a record $880 million settlement.

This settlement follows years of back-and-forth mediation between the Archdiocese and the Survivors’ Creditors Committee.

The law firm representing the survivors said the $395 million “stands as the largest per survivor settlement in any clerical bankruptcy.”

“As a part of the settlement, the Archdiocese is turning over (assigning) its rights under the insurance policies for the survivors to recover additional damages against all the insurance companies who refused to abide by their contractual responsibilities to the Archdiocese and the survivors,” it said.

“I’ve been working with survivors for decades, and I’ve never heard of anything quite as significant, as rigorous, as robust as what is being required of the Archdiocese of San Francisco,” said Jeff Anderson, an attorney representing dozens of child sexual abuse victims.

The proposed 14-point settlement plan calls for appointing an independent child protection consultant with full access to archdiocesan records, publishing findings and a more complete list of credibly accused offenders, creating a survivor-sensitive public archive, and strengthening protections for whistleblowers and reporters.

It also calls for banning mandatory nondisclosure agreements (NDAs) in abuse settlements and prohibiting private digital communications between adults and children.

Margie O’Driscoll sued the archdiocese, alleging she was sexually abused almost 50 years ago by a priest while she was a student at Marin Catholic High School in Kentfield, a community north of the Golden Gate Bridge.

“I, like every survivor, have carried this pain and shame along like a ball and chain for a very, very long time,” O'Driscoll said during a news conference.

“Ashamed and confused about what happened, scorned by the archdiocese, and sometimes not even believed by family and friends, and I think today shame is gonna change sides.”

“We believe this proposal provides a path toward fair compensation for survivors who have borne the weight of this abuse for a lifetime,” Rev. Salvatore J. Cordileone, archbishop of San Francisco, said in a June 29 statement.

The Archdiocese of San Francisco, led by Cordileone, serves more than 400,000 Catholics in San Francisco, San Mateo, and Marin Counties.

“The entire Catholic family is called to unite and share in the work of making amends through this proposed settlement. We have a moral obligation to bring some level of healing and reconciliation to those who deserve our unwavering respect, attention, and prayers,” he said.

“With stringent preventative measures and trainings now in place for decades, the hope is that this proposal will allow us collectively to move forward by continuing the important ministries to the faithful and community members that rely on our services and charity.

“While the vast majority of sexual abuse allegations associated with this bankruptcy were from many decades ago, we accept full responsibility for what happened, and I sincerely apologize to all those who have been harmed.”

Tyler Durden Tue, 06/30/2026 - 20:55

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El Nino Heat Wave Fuels HVAC Boom: Goldman Maps The Trade

We have already provided readers with plenty of color on El Niño (see here and here), a weather phenomenon that could pressure harvest yields and potentially reignite food inflation later this year. El Niño tends to raise temperatures and intensify weather extremes, worsening drought in some regions while amplifying heavy rainfall in others.

Now comes the question of how to profit beyond the agri markets. Goldman analysts led by Brian Singer penned a note for clients titled "Heat Waves Could Further Amplify HVAC Demand," in which they laid out dozens of stocks tied to HVAC and power-reliability verticals that stand to benefit as heat waves drive surging cooling demand worldwide.

"We highlight 42 global Buy-rated stocks exposed to HVAC and power reliability verticals that are positioned to benefit from rising cooling demand. We highlight analysis on El Niño and US drought conditions from our Commodities Research and Data Works/Retail teams," Singer said.

Singer noted that HVAC demand rose to 114 million units in 2024, up 7% from a year earlier, while global HVAC demand per capita increased by 6% to 13.9 units per 1,000 people.

Asia remains the largest residential HVAC market, accounting for about 60% of global demand, with Japan, Hong Kong/Macau, and Taiwan leading in market penetration.

Asia, Europe, India, and Bangladesh are set to be among the top markets driving global HVAC demand, given the hot, humid weather backdrop this year.

Singer explained that Europe has become a notable pool of HVAC demand because, even before the heat waves, Germany, the UK, and France were still well below the global average for AC adoption.

Power demand in Spain, France, Germany, and the UK set to rise if HVAC adoption increases. 

Last week, Rory Green, TS Lombard's chief China economist, briefed clients on a weather note titled "Super El Niño: Famine Follows War?"

Green wrote in the note, "In general, El Niño raises temperatures and significantly exacerbates both drought and heavy rainfall. For global macro, it is an inflationary shock via the food price channel – a shock that will likely be compounded by existing war-related high fertilizer costs."

He said within his coverage, "India is the most exposed to both growth and inflation risks, supporting our underweight Indian assets. Brazil and Mexico, too, will receive an inflation impulse."

El Niño Impact Watch:

Singer provided clients with 42 Buy-rated global stocks exposed to HVAC and power reliability, including Carrier, Johnson Controls, Lennox, GE Vernova, Vistra, Quanta Services, Prysmian, Siemens Energy, Midea, Hitachi and Power Grid.

Professional subscribers can read more on El Niño here at our new Marketdesk.ai portal. 

Tyler Durden Tue, 06/30/2026 - 20:30

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