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Tax on AI and crypto could fund climate action, says former Paris accords envoy | Climate crisis

Governments should consider taxing artificial intelligence and cryptocurrencies to generate funds to deal with the climate crisis, one of the architects of the Paris agreement has said.
Laurence Tubiana, the chief executive of the European Climate Foundation and a former French diplomat, is co-lead of the Global Solidarity Levies Task Force, an international initiative to find new sources of funds for climate action by taxing highly polluting activities including aviation and fossil fuel extraction.
She said cryptocurrency should certainly be taxed, and levies on AI should be considered.
“That could be a first step – again, it’s the same rationale [for AI as taxing cryptocurrency], because they use a lot of energy,” she said. “Crypto seems to be something which is not regulated at all, and of course it’s a concern, from the financial stability element.”
The equivalent of Poland’s annual energy consumption is expended each year just on generating bitcoin, one of the leading cryptocurrencies. AI also consumes vast resources, resulting in IT companies scrabbling to secure electricity supplies in locations around the world.
Taxing AI could prove tricky, Tubiana conceded, as companies might try to shift the location of their datacentres. Although there was likely to be “pushback” against taxing cryptocurrencies, particularly from the US, where Donald Trump is an enthusiastic supporter of the technology, she said central bankers had expressed an interest.
“Because we need to regulate it – it’s organised crime sometimes, so you should look at where the money’s coming from, and who is the user,” Tubiana said. The taskforce has assigned a group of experts to examine how this could be achieved.
The taskforce has scored an early success in the form of an agreement among some countries to put new charges on business-class and first-class airline tickets, and private jets. France, Spain, Kenya, Barbados, Somalia, Benin, Sierra Leone, and Antigua and Barbuda were the first countries to sign up to the accord announced at the end of June.
The French president, Emmanuel Macron, said: “We have to mobilise more and more countries in order for these critical sectors which are benefiting from globalisation to contribute to the financing of this common effort [to combat the climate crisis]. I want to urge all possible countries to join this international framework because it’s absolutely key, and it’s part of our agenda.”
Such taxes could raise €147bn (£127bn) a year, if the big economies joined in. The use of private jets increased by almost 50% between 2019 and 2023, and first- and business-class flying recovered more speedily than economy class after the Covid lockdowns. Polls suggest that charging premier-class passengers more would be a popular move.
Tubiana said: “When you have your car, you pay tax, and when you fly you don’t pay tax, so there is an element of justice there that resonates.”
Countries could impose such taxes without a global agreement, she added. “The aviation tax is not that complicated, because it’s really a sovereign decision.”
A potential carbon tax on shipping is also still under discussion, after the International Maritime Organization agreed steps towards such a deal in April. A further meeting will take place in October, and Tubiana said she was “reasonably optimistic” a new levy would be decided.
The taskforce is also examining options such as a tax on buying shares in the stock market, which could raise as much as €105bn a year without distorting the market, according to research.
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Rebecca Newsom, the global political lead of Greenpeace International’s Stop Drilling Start Paying campaign, urged the taskforce to go further and push for taxes on fossil fuel production.
“The obvious next step is to hold oil and gas corporations to account,” she said. “As fossil fuel barons rake in obscene profits, and people are battered with increasingly violent floods, storms and wildfires, it’s no surprise that eight out of 10 people support making them pay. Members of the Global Solidarity Levies Task Force and rich countries around the world should act upon this enormous public mandate.”
Tubiana, who guided the Cop21 conference in 2015 at which the Paris agreement was signed, also expressed concern about the direction France was taking in international climate negotiations.
Macron has mooted a delay to the European Commission’s proposal of a 90% cut to greenhouse gas emissions by 2040, a target that is supposed to be confirmed by the EU parliament and member states in September before the Cop30 climate summit in Brazil in November.
Tubiana said Macron’s new-found hesitation over climate policy was “a very sad story”. She warned that it would backfire and would reduce the chances of a strong outcome for Cop30, at which countries must set new emissions goals under the Paris agreement.
“How can we ask anybody to do something if we’re not doing it, if we’re not proving that we believe we can decarbonise the economy?” she said. “I hope they will wake up to the bad signals they are giving. It’s really not reasonable to think that delaying action will benefit the economy of France. We need innovation, we don’t need to delay.”
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Liquid-cooling thermal management for artificial intelligence (AI)

Questions and answers:
- What are the Vertiv CoolChip CDU models for? They are designed for liquid cooling in high-performance computing (HPC) and artificial intelligence (AI) applications, including retrofit and greenfield data centers.
- What is the cooling capacity of the Vertiv CoolChip CDU 600, and what type of system is it? The Vertiv CoolChip CDU 600 provides 600 kilowatts of cooling, and is an in-row, liquid-to-liquid cooling system.
- How does the Vertiv CoolChip CDU 100 support high-density workloads? It offers 100 kilowatts of cooling in a 4U form factor with a large-surface heat exchanger, integrated controller, and built-in fluid filtration for thermal stability.
WESTERVILLE, Ohio – Vertiv Group Corp. in Westerville, Ohio, is introducing three versions of the Vertiv CoolChip Coolant Distribution Unit (CDU) for liquid cooling in high-performance computing (HPC) and artificial intelligence (AI) applications.
The the Vertiv CoolChip CDU 70, Vertiv CoolChip CDU 100, and Vertiv CoolChip CDU 600 are direct-to-chip (DTC) liquid thermal management systems.
These models are for retrofit or greenfield data center environments, with models including in-rack and row-based configurations, and liquid-to-air and liquid-to-liquid technologies. The Vertiv CoolChip CDU family is for applications ranging from retrofitting existing facilities to scaling high-density AI and HPC clusters in new builds.
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Tell me more about electronics liquid cooling
- Electronics liquid cooling uses liquids — typically water or specialized coolants — to absorb and transfer heat away from high-power electronic components. Unlike traditional air cooling, liquid cooling is more efficient at handling dense heat loads in applications like high-performance computing (HPC), data centers, and military electronics. Key methods include direct-to-chip (DTC) cooling, cold plates, and immersion cooling.
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The CoolChip CDU 70 is an in-row, liquid-to-air coolant distribution unit for liquid cooling in data centers that must use existing thermal infrastructure. The system delivers as much as 70 kilowatts of cooling capacity.
Its integrated controller supports real-time monitoring, group control and unit-to-unit communication, for coordinated thermal performance, simplified management, and efficient scaling across several different racks.
Vertiv CoolChip CDU 100 offers liquid-to-liquid in-rack cooling for high-density workloads. If offers 100 kilowatts of cooling capacity in a 4U form factor and a large-surface heat exchanger engineered for low approach temperatures. An integrated controller provides monitoring and control, and built-in filtration help maintain fluid quality and thermal stability.
Liquid-to-liquid cooling
The Vertiv CoolChip CDU 600 is an in-row liquid-to-liquid model for AI and HPC deployments. The 600-kilowatt system is for hyperscale and colocation environments, supports in-row configurations, and integrates into raised-floor or retrofit installations.
It offers a top- or bottom-piping connection and available internal manifolds, streamlines infrastructure planning, and speeds installation with redundant pumps, and advanced monitoring for temperature and fluid quality.
For more information contact Vertiv online at www.vertiv.com.
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California Judicial Council implements rule for generative artificial intelligence use in court

Policies must block confidential information from being input into public generative AI systems; they must also ban unlawful discrimination via AI programs. Court staff and judicial officers must also “take reasonable steps” to confirm the accuracy of material, as per a statement published by Reuters. Staff and judicial officers must also reveal whether they used AI if the final version of any publicized written, visual, or audio work was AI-generated.
Courts must implement their respective policies by September 1.
Task force chair Brad Hill told the council in a statement published by Reuters that the rule “strikes the best balance between uniformity and flexibility.” He explained that the task force steered clear of a rule that would dictate court use of the evolving technology.
Illinois, Delaware, and Arizona have also taken on generative AI rules or policies. New York, Georgia, and Connecticut are presently evaluating generative AI use in court.
California’s court system comprises five million cases, 65 courts, and around 1,800 judges. The AI task force was established to address the increasing interest in generative AI as well as public concern about its effect on the judiciary; it supervises the development of AI use policy recommendations in this branch.
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This Artificial Intelligence (AI) Stock Could Hit a $2 Trillion Valuation by July 31

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Meta Platforms’ recent rally has brought its market cap close to the $2 trillion mark.
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The digital advertising giant’s upcoming earnings report could help it hit this milestone.
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Meta’s ability to deliver strong returns to advertisers with the help of AI tools could help it grow at a faster pace than the end market in the long run, paving the way for more upside.
Meta Platforms (NASDAQ: META) stock has been rallying impressively of late, gaining more than 32% in the past three months amid the broader rally in technology stocks. As a result, Meta’s market cap has jumped to $1.8 trillion as of this writing on July 14, making it the sixth-largest company in the world.
Meta is slated to release its second-quarter results after the market closes on July 31. The company has been able to grow at a faster pace than the digital ad market thanks to the integration of artificial intelligence (AI) tools into its offerings, which could enable it to deliver another solid set of results later this month.
Given that Meta stock is just 11% away from entering the $2 trillion market cap club as I write this, there is a good chance it could achieve that milestone in July, driven by the tech stock rally and a healthy quarterly report.
Let’s look at the reasons why Meta stock is primed for more upside this month and in the long run.
It is worth noting that Meta’s earnings have been better than consensus expectations in each of the last four quarters. One reason is the increase in spending across its family of applications by advertisers. In the first quarter, for instance, Meta reported an impressive increase of 10% year over year in the average price per ad.
Ad impressions also increased by 5% from the year-ago period, which means the company is delivering more ads. This combination of higher pricing per ad and an increase in impressions delivered enabled Meta to report a 37% year-over-year increase in its earnings to $6.43 per share in Q1. However, investors should also note that the company has been aggressively increasing its capital expenditures (capex) to bolster its AI infrastructure.
It expects to spend $68 billion on capex in 2025, at the midpoint of its guidance range. That would be a massive increase over its 2024 capex of $39 billion. This explains why analysts are expecting Meta’s earnings to increase at a slower year-over-year pace of 13% for the second quarter to $5.84 per share. While the increased investment in AI-focused data center infrastructure is undoubtedly likely to weigh on Meta’s bottom line in the short run, the higher returns its AI investments are generating on the advertising front could help it beat the market’s bottom-line expectations. And beating expectations often sends a stock up, as investors react with excitement and optimism.
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