Equinix, one of the world’s largest data center operators, has announced a series of agreements to secure electricity from advanced nuclear energy. These include power purchase agreements and a preorder for mobile small nuclear reactors to power its data centers. The move comes amid growing concerns over global energy supplies, as electricity consumption surges due to technologies such as generative AI.

The company stated that these agreements are part of its long-term strategy to ensure stable and sustainable electricity supplies for its global operations. The deals are expected to provide more than 1 gigawatt of power for Equinix data centers — a significant step as the company prepares for future expansion.

This reflects a broader trend in the data center sector toward early-stage agreements with advanced nuclear power providers to meet massive electricity demand. Although small modular reactors and next-generation nuclear technologies are not yet widely available commercially in the US — a major hub for data centers — these preliminary deals highlight growing interest in nuclear technology as a potential solution to the energy crisis.

Under the agreements, Equinix plans to purchase 500 megawatts of power from California-based Oklo, a developer of next-generation nuclear fission reactors. It has also placed a preorder for 20 mobile small reactors with California’s Radiant Nuclear. In Europe, Equinix has signed potential power purchase deals with developers ULC-Energy and Stellaria.

Raouf Abdel, Executive Vice President for Global Operations at Equinix, told Reuters that these agreements are part of the company’s long-term energy planning and are not a short-term fix. The company has also signed agreements with Bloom Energy, a specialist in advanced fuel cells, to diversify its energy sources.

The push toward advanced nuclear energy follows the US Department of Energy’s launch of a pilot program selecting 11 projects to develop high-tech experimental reactors, with the aim of operating three of them in less than a year. This could accelerate the commercial availability of such technologies.

This strategic shift by Equinix and other tech companies reflects a proactive approach to meeting the surging energy demands of modern digital infrastructure, with a focus on innovative and sustainable power sources.

Copper prices fell during Thursday’s trading amid a rise in the US dollar against most major currencies and an assessment of the latest data from China.

Government data released today showed that total yuan-denominated loans in China rose by 12.87 trillion yuan (about $1.8 trillion) during the first seven months of 2025.

The People’s Bank of China (PBOC) said in a statement that outstanding yuan-denominated loans reached 268.51 trillion yuan at the end of July, marking a 6.9% year-on-year increase.

China also completed the issuance of special long-term treasury bonds worth 188 billion yuan (about $26.35 billion) in 2025.

According to Xinhua, these funds will support nearly 8,400 projects covering sectors such as energy, logistics, environmental infrastructure, education, and healthcare, leading to a total investment of more than one trillion yuan.

Meanwhile, the US dollar index rose 0.3% to 98.1 points at 16:17 GMT, after reaching a high of 98.2 points and a low of 97.6 points.

As for trading, copper futures for December delivery rose 0.5% to $4.53 per pound at 16:14 GMT.

Bitcoin hit a new record high on Thursday, supported by growing expectations for more accommodative monetary policy from the Federal Reserve, as well as momentum from recently announced financial reforms.

The world’s largest digital asset by market capitalization rose 0.9% to $124,002.49 during early Asian trading, surpassing its previous peak set in July. On the same day, Ether – the second-largest cryptocurrency – reached $4,780.04, its highest level since late 2021.

Tony Sycamore, an analyst at IG, said Bitcoin’s rally was driven by increased certainty over Fed rate cuts, ongoing institutional buying, and steps by the Trump administration to facilitate investment in digital assets. He added, “Technically, a sustained break above $125,000 could propel Bitcoin toward $150,000.”

Bitcoin has gained around 32% since the start of 2025, benefiting from long-awaited regulatory wins for the sector following Donald Trump’s return to the White House. Trump has described himself as the “crypto president,” while his family has made a series of moves in the industry over the past year.

Last week, Trump issued an executive order paving the way for digital assets to be included in 401(k) retirement plans, underscoring a more favorable regulatory climate in the US.

In 2025, the cryptocurrency sector scored several regulatory victories in the US, including the approval of stablecoin-specific rules and moves by the Securities and Exchange Commission to revise regulations to better align with the digital asset class.

Bitcoin’s rise has also fueled a broader rally in the digital asset market in recent months, offsetting the impact of Trump’s wide-ranging tariff policies.

According to CoinMarketCap data, the total market capitalization of the cryptocurrency sector climbed to over $4.18 trillion, up from about $2.5 trillion in November 2024 when Trump won the US presidential election.

The latest push to support cryptocurrency adoption in the US came via an executive order issued last Thursday, aimed at easing access to these assets within 401(k) plans. This could provide a boost for asset managers such as BlackRock and Fidelity, which run cryptocurrency exchange-traded funds (ETFs).

However, adding cryptocurrencies to retirement savings is not without risk, as these assets are far more volatile than stocks and bonds, which asset managers have traditionally relied upon in such accounts.

Oil prices steadied on Thursday as investors weighed the potential impact of Friday’s planned US–Russia summit on Ukraine on Russian crude flows, after US President Donald Trump warned of “severe consequences” if Moscow did not agree to peace.

By 09:57 GMT, Brent crude futures rose 35 cents, or 0.53%, to $65.98 a barrel, while US West Texas Intermediate (WTI) crude gained 35 cents, or 0.56%, to $63.00.

Both benchmarks had hit two-month lows on Wednesday following downbeat supply guidance from the US government and the International Energy Agency (IEA).

On Wednesday, Trump threatened “severe consequences” if Russian President Vladimir Putin did not agree to peace in Ukraine, without specifying what those consequences would be, though he had previously warned of economic sanctions if Alaska talks failed.

The US president also threatened secondary tariffs on buyers of Russian crude — particularly China and India — if Moscow continued its war in Ukraine.

Rystad Energy said in a client note: “Uncertainty over the outcome of US–Russia peace talks still adds an upside risk premium, given that buyers of Russian oil may face further economic pressure.” It added: “How the Ukraine–Russia crisis is resolved and changes in Russian oil flows could bring unexpected surprises.”

However, some analysts remained skeptical that Trump would take actions likely to significantly disrupt oil supplies. BVM analyst John Evans said: “Any measure that would lift oil prices, such as secondary tariffs, is almost a self-defeating goal for this administration — and the man from Moscow knows that very well.”

Expectations of a Federal Reserve interest rate cut in September also supported oil prices, as lower borrowing costs could spur economic growth and boost oil demand.

Traders are nearly 100% convinced a rate cut will happen after July data showed US inflation rose at a moderate pace. Treasury Secretary Scott Bessent said he believes a sharp half-point cut is possible given the recent weak jobs data.

Oil prices had been under pressure on Wednesday after US Energy Information Administration data showed an unexpected 3 million barrel increase in US crude stocks for the week ending August 8.