Axios

Nyquis, a startup providing grid-monitoring technology, raised $6.3 million in seed funding led by Gigascale Capital and South Park Commons.

Why it matters: The financing comes as extreme weather heightens power supply risks, energy demand is rising, and a bipartisan push is underway to greatly expand U.S. transmission.

At Axios House during the United Nations General Assembly and Climate Week on Sept. 21, Nicholas Johnston sat down with Eric Gray, chief executive officer (CEO) of GE Vernova's Power segment, to discuss rising energy demand, the role of gas and nuclear power and the technologies needed to power the future.

CVR Energy, controlled by Carl Icahn, agreed to buy two U.S. refineries and a related marketing business from Marathon Petroleum for $4.2 billion.

Why it matters: Refining margins are wide, due to supply and demand imbalances caused by the Russia/Ukraine war and conflicts in the Middle East.

U.S. diesel futures registered a muted response to Monday's tumble in global crude oil prices, with the suddenly politically salient price of the industrial fuel still up more than 100% from the end of 2025.

Why it matters: It shows that the destruction of global refining infrastructure, rather than shortages of crude oil, is the key to soaring diesel costs right now.

The U.S., Russia and Ukraine will hold peace talks in Abu Dhabi on Nov. 10-11 in an effort to reach a breakthrough on a deal to end the war.

Why it matters: U.S. officials say the meeting to restart a diplomatic effort suspended in February due to the war in Iran is a result of talks President Trump's envoys Steve Witkoff and Jared Kushner held with Ukrainian President Volodymyr Zelensky and Russian President Vladimir Putin in recent weeks.

Communities across the U.S. courting data centers face an economic bargain: billions in private investment and potentially lucrative tax revenue, alongside mounting public backlash.

Case in point: New Albany, Ohio, a 22-square-mile Columbus suburb, has spent more than a decade welcoming data centers. Today, it has roughly 40 facilities operated by Meta, Google, Amazon and others.

OpenAI is vowing to reduce electricity use at U.S. data center campuses it directly develops when extreme weather or other emergencies strain the power grid.

Why it matters: OpenAI is moving to build its own data centers just as public and political backlash over their electricity demands threatens the industry's expansion plans.

After another rough week for the AI trade, stocks seem to be bracing for more uncertainty in the days ahead.

Why it matters: While the AI trade has sputtered, the S&P 500 has managed to largely tread water thanks to strength from shares tied to the basics of the economy, like consumer staples, health care and utilities. (Soaring oil shares didn't hurt either.)

• But Tuesday's U.S. midterm elections and the potential reescalation of major fighting in the Iran war after the vote pose another potential hurdle to the market.

A powerful El Niño could bring major shifts in electricity supply and demand across the U.S. this winter, posing new challenges for utilities.

Why it matters: The U.S. power grid has far more solar, wind and battery storage than during the last major El Niño, and the ongoing event could reveal whether that changing energy mix has made the grid more resilient or left it vulnerable in new ways.

As America's AI boom drives a massive buildout of electricity infrastructure, policymakers increasingly want technology companies — not everyday electricity customers — to shoulder more of the costs.

Why it matters: Decisions being made now about who pays for new power infrastructure could affect Americans' electricity bills for years to come.