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Mills Drops Out In Maine Governor's Race As Oysterman With Nazi Tattoo Becomes Democratic Frontrunner
Mills Drops Out In Maine Governor's Race As Oysterman With Nazi Tattoo Becomes Democratic Frontrunner
Maine Gov. Janet Mills suspended her U.S. Senate campaign Thursday morning, citing a lack of financial resources. That's the official explanation. The more accurate one is that the polls showed her trailing badly to Graham Platner, an oysterman from coastal Maine with no electoral experience.
Mills had every structural advantage working for her: she’d already won a statewide election, had name identification, and the support of Senate Minority Leader Chuck Schumer. The writing was on the wall for weeks, but Mills’s exit from the race was her concession that all the momentum on the Democratic side was for Platner.
Platner had long lapped Mills in polling and fundraising, and she'd stopped running television ads weeks earlier. Which means Platner will be the party's nominee against Sen. Susan Collins in one of the most consequential Senate races of the 2026 cycle.
In 2007, Graham Platner got a Nazi Totenkopf tattoo on his chest. He kept it there for roughly 18 years. He claims he didn't know what the symbol meant for nearly two decades. But there is significant evidence that he did, and that it was intentional. Platnerhttps://www.nationalreview.com/corner/maine-shows-anti-semitism-is-a-short-cut-to-success-in-the-modern-democratic-party/ a social media post from Stew Peters, a neo-Nazi radio host the Anti-Defamation League has called "a prolific antisemite" who blames "'the Jews' for everything he believes is wrong with society" and who has openly called for a "final solution" to mass-deport American Jews. Platner deleted the post, but only after it got attention, not before. He also sat for a lengthy interview with antisemitic conspiracy theorist Nate Cornacchia, describing himself as a longtime fan. He has called the U.S.-Israel relationship "shameful" and praised a violent Hamas attack on Israel in 2014.
"In November Susan Collins, a proven leader with an indisputable record of delivering for Maine, will face a Nazi sympathizing self-proclaimed communist with a record of hate-mongering and dishonesty," said RNC spokesperson Kristen Cianci. "It's safe to say we are confident going into Election Day."
There’s no denying that a candidate with this profile would have been a liability the party ran from not all that long ago. Now he's the frontrunner with enough momentum that he forced the sitting governor - recruited by Senate Minority Leader Chuck Schumer himself - to drop out of the race.
This didn't materialize overnight. The Democratic Party's tolerance for anti-Israel sentiment has been building for decades.
The trajectory is traceable.
Barack Obama won the presidency despite his two-decade relationship with Rev. Jeremiah Wright, a pastor whose hostility toward Israel and Jews was a matter of public record. Once in office, Obama systematically manufactured distance between Washington and Jerusalem, signaling that cool skepticism toward Israel was not just acceptable but arguably sophisticated Democratic foreign policy.
Obama’s administration was the most anti-Israel administration since Jimmy Carter, and it frequently undermined our democratic ally in the Middle East. Obama exposed classified information about Israel's nuclear capabilities - an alarming breach of trust. His IRS targeted pro-Israel organizations, and his administration declined to enforce anti-BDS provisions, effectively offering a federal green light to a movement whose stated purpose is the economic strangulation of the Jewish state. At the 2012 Democratic National Convention, delegates initially refused to recognize Jerusalem as Israel's capital — a true sign that the party was becoming more openly antisemitic.
Joe Biden accelerated the trend by allowing the antisemitic wing of his party to set the terms of the Israel debate rather than confronting it. Last year, pollinghttps://news.gallup.com/poll/657404/less-half-sympathetic-toward-israelis.aspx Democrats favoring Palestinians over Israelis by a staggering 59–21 percent margin, and overall American sympathy for Israel reached a 25-year low.
The line from Jimmy Carter to Barack Obama to Graham Platner is unmistakable. It also helps explain how anti-Israel sentiment found a foothold inside the Democratic Party. Each step made the next one easier to accept, and party leadership either accepted it each time or chose not to push back.
Ironically, Democrats spent years calling their Republican opponents Nazis. The charge was deployed so casually and so broadly that it became almost ambient noise in American political life. Now the same party is on the verge of nominating a man who wore a Nazi symbol on his chest for two decades as its nominee for the United States Senate in Maine.
https://cms.zerohedge.com/users/tyler-durden
Fri, 05/01/2026 - 22:55
https://www.zerohedge.com/political/mills-drops-out-main-governors-race-oysterman-nazi-tattoo-becomes-democratic-frontrunner
Mills Drops Out In Maine Governor's Race As Oysterman With Nazi Tattoo Becomes Democratic Frontrunner
Maine Gov. Janet Mills suspended her U.S. Senate campaign Thursday morning, citing a lack of financial resources. That's the official explanation. The more accurate one is that the polls showed her trailing badly to Graham Platner, an oysterman from coastal Maine with no electoral experience.
Mills had every structural advantage working for her: she’d already won a statewide election, had name identification, and the support of Senate Minority Leader Chuck Schumer. The writing was on the wall for weeks, but Mills’s exit from the race was her concession that all the momentum on the Democratic side was for Platner.
Platner had long lapped Mills in polling and fundraising, and she'd stopped running television ads weeks earlier. Which means Platner will be the party's nominee against Sen. Susan Collins in one of the most consequential Senate races of the 2026 cycle.
In 2007, Graham Platner got a Nazi Totenkopf tattoo on his chest. He kept it there for roughly 18 years. He claims he didn't know what the symbol meant for nearly two decades. But there is significant evidence that he did, and that it was intentional. Platnerhttps://www.nationalreview.com/corner/maine-shows-anti-semitism-is-a-short-cut-to-success-in-the-modern-democratic-party/ a social media post from Stew Peters, a neo-Nazi radio host the Anti-Defamation League has called "a prolific antisemite" who blames "'the Jews' for everything he believes is wrong with society" and who has openly called for a "final solution" to mass-deport American Jews. Platner deleted the post, but only after it got attention, not before. He also sat for a lengthy interview with antisemitic conspiracy theorist Nate Cornacchia, describing himself as a longtime fan. He has called the U.S.-Israel relationship "shameful" and praised a violent Hamas attack on Israel in 2014.
"In November Susan Collins, a proven leader with an indisputable record of delivering for Maine, will face a Nazi sympathizing self-proclaimed communist with a record of hate-mongering and dishonesty," said RNC spokesperson Kristen Cianci. "It's safe to say we are confident going into Election Day."
There’s no denying that a candidate with this profile would have been a liability the party ran from not all that long ago. Now he's the frontrunner with enough momentum that he forced the sitting governor - recruited by Senate Minority Leader Chuck Schumer himself - to drop out of the race.
This didn't materialize overnight. The Democratic Party's tolerance for anti-Israel sentiment has been building for decades.
The trajectory is traceable.
Barack Obama won the presidency despite his two-decade relationship with Rev. Jeremiah Wright, a pastor whose hostility toward Israel and Jews was a matter of public record. Once in office, Obama systematically manufactured distance between Washington and Jerusalem, signaling that cool skepticism toward Israel was not just acceptable but arguably sophisticated Democratic foreign policy.
Obama’s administration was the most anti-Israel administration since Jimmy Carter, and it frequently undermined our democratic ally in the Middle East. Obama exposed classified information about Israel's nuclear capabilities - an alarming breach of trust. His IRS targeted pro-Israel organizations, and his administration declined to enforce anti-BDS provisions, effectively offering a federal green light to a movement whose stated purpose is the economic strangulation of the Jewish state. At the 2012 Democratic National Convention, delegates initially refused to recognize Jerusalem as Israel's capital — a true sign that the party was becoming more openly antisemitic.
Joe Biden accelerated the trend by allowing the antisemitic wing of his party to set the terms of the Israel debate rather than confronting it. Last year, pollinghttps://news.gallup.com/poll/657404/less-half-sympathetic-toward-israelis.aspx Democrats favoring Palestinians over Israelis by a staggering 59–21 percent margin, and overall American sympathy for Israel reached a 25-year low.
The line from Jimmy Carter to Barack Obama to Graham Platner is unmistakable. It also helps explain how anti-Israel sentiment found a foothold inside the Democratic Party. Each step made the next one easier to accept, and party leadership either accepted it each time or chose not to push back.
Ironically, Democrats spent years calling their Republican opponents Nazis. The charge was deployed so casually and so broadly that it became almost ambient noise in American political life. Now the same party is on the verge of nominating a man who wore a Nazi symbol on his chest for two decades as its nominee for the United States Senate in Maine.
https://cms.zerohedge.com/users/tyler-durden
Fri, 05/01/2026 - 22:55
https://www.zerohedge.com/political/mills-drops-out-main-governors-race-oysterman-nazi-tattoo-becomes-democratic-frontrunner
Ex-CIA Analyst Warns Hegseth's Claim Of "Ironclad" Hormuz Blockade Deeply Misleading
Ex-CIA Analyst Warns Hegseth's Claim Of "Ironclad" Hormuz Blockade Deeply Misleading
https://sonar21.com/the-bogus-blockade-claim-of-the-us-department-of-war/
Pete Hegseth is lying about the US blockade of Iranian ports. On April 12, after JD Vance announced that talks with Iran had failed, Trump declared a naval blockade of Iranian ports and coastal areas. CENTCOM clarified that the blockade would be enforced against vessels of all nations entering or departing Iranian ports, but would not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports.
Now, after more than two weeks, Pete Hegseth has been saying the US blockade is working and getting stronger, describing it as “ironclad,” “tightening by the hour,” and even “going global.” He said the Navy had turned back 34 ships, that transit through the Strait of Hormuz is now “much more limited,” and that the blockade will last “as long as it takes.”
He also framed the blockade as coercive leverage on Iran, saying it is meant to cut off shipping pressure until Tehran abandons its nuclear ambitions. In the same remarks, he warned the US would “shoot to destroy” any Iranian boats laying mines or otherwise threatening commercial shipping.
Here’s what the available data tells us about Strait of Hormuz transits since April 15:
Daily volumes (around April 15): On April 15 alone, there were 19 transits — 5 inbound and 14 outbound — according to Windward. Around that same period, April 11 saw 17 transits, April 12 saw 21, and April 13 saw 17. https://www.unitedagainstnucleariran.com/blog/iran-war-shipping-update-april-15-2026https://windward.ai/blog/one-week-into-the-ceasefire/
Overall picture since April 15: A precise cumulative total from April 15 through today (April 30) isn’t publicly available in a single figure, but based on the data points above, daily transits have been running roughly in the range of 6–21 ships per day. Recent data from Windward and AIS trackers confirm persistent low volumes of 6–13 vessels daily.
That would put a rough estimate somewhere in the ballpark of 100–200 total transits over the 15-day stretch since April 15 — though the true number could be higher due to GPS spoofing. I can’t comment on GPS spoofing, but I can say with certainty that Pete Hegseth is spoofing the American public about the effectiveness of the blockade.
In order to understand Hegseth’s perfidy, you need to understand the US Navy doctrine for handling a blockade. The US Navy’s approach to taking control of a ship seized during a blockade centers on Visit, Board, Search, and Seizure (VBSS) operations, governed primarily by the Commander’s Handbook on the Law of Naval Operations (NWP 1-14M/MCTP 11-10B, March 2022) and aligned with the law of armed conflict (LOAC), including customary rules on blockades.
Standard Procedure for Seizure & Control
- Interception and Warnings: US forces (Navy warships, often with Marine or Coast Guard support) issue radio warnings, visual signals, or warning shots to order the vessel to stop. Non-compliance can lead to disabling fire (e.g., targeting engines) to halt the ship without sinking it.
- Boarding (VBSS): A specialized boarding party—typically from the Navy, Marines (e.g., 31st MEU), or Coast Guard—approaches via small boats, helicopters, or fast-roping. The team secures the bridge, engine room, and key areas to establish control. Teams train for both compliant and non-compliant (opposed) boardings, using tactics for close-quarters battle, searches, and restraint of crew.
- Taking Control:
The boarding party assumes operational command of the vessel.
In a formal wartime blockade or armed conflict context, a prize crew (detachment of US personnel) may be placed aboard to sail the seized ship to a friendly port for adjudication. The original crew can be detained, removed, or (for neutrals) sometimes allowed limited continued presence under guard.
The ship and cargo become subject to inspection for contraband, sanctions violations, or blockade breach. Under prize law (revivable in armed conflict), a prize court may condemn the vessel/cargo as lawful prize.
- Post-Seizure: Here is the key point: the vessel is typically escorted to a US or allied port for further inspection, potential forfeiture, or release if the capture is deemed unlawful. Crew handling follows LOAC (e.g., humane treatment; possible internment for belligerents).
Blockades are acts of war requiring effective enforcement (impartial, declared, and maintained by force). Violators (enemy or neutral ships breaching or attempting to breach) are subject to capture
Now that you understand the procedure, let’s look at the US Navy's constraints. As I discussed in my last article, the US Navy is keeping its ships 200 miles off the coast of Iran. If the venture any closer to shore they are vulnerable to missile and drone attacks. The Iranian ships — when they leave port — normally stay within 50 miles of the Iranian coast, which means they are outside the reach of the US Navy.
Fifty two Iranian vessels have crossed a US-imposed blockade of Iranian waters within a 72-hour period...
https://t.co/mZrwK5qijI
— Trita Parsi (@tparsi) https://twitter.com/tparsi/status/2049563234458292726?ref_src=twsrc%5Etfw
Next, let’s look at the current US Navy order of battle (this is based on publicly available information). As of late April 2026, the US Navy has at least 14 actively operating or supporting in the broader region (Gulf of Oman, Arabian Sea, and relevant Indian Ocean areas). This includes three Carrier Strike Groups (CSGs); at least eight multiple guided-missile destroyers; six ships attached to the Amphibious Ready Groups (ARG) for the 31st and 11th MEUs, and two additional escorts (not part of the core ARG but often operate with it): the Cruiser USS Robert Smalls (CG-62) and the destroyer USS Rafael Peralta (DDG-115), forming a broader Expeditionary Strike Group. In other words, the US Navy only as 11 ships that could be used in a VBSS operation.
Do you see the math problem? The current US deployment means that the US Navy could do VBSS operations on 11 vessels… Tops! But that would mean that US destroyers, which have the mission of protecting the US carriers from air attacks, would have to be pulled off of their primary mission leaving the carriers to fend for themselves. If we assume that all 11 US ships carried out successful VBSS operations since 15 April, that means between 89% and 96% of all Iranian ships out of the Strait of Hormuz have evaded the blockade. Hegseth is lying.
https://cms.zerohedge.com/users/tyler-durden
Fri, 05/01/2026 - 22:25
https://www.zerohedge.com/geopolitical/ex-cia-analyst-warns-hegseths-claim-ironclad-hormuz-blockade-deeply-misleading
Ex-CIA Analyst Warns Hegseth's Claim Of "Ironclad" Hormuz Blockade Deeply Misleading
https://sonar21.com/the-bogus-blockade-claim-of-the-us-department-of-war/
Pete Hegseth is lying about the US blockade of Iranian ports. On April 12, after JD Vance announced that talks with Iran had failed, Trump declared a naval blockade of Iranian ports and coastal areas. CENTCOM clarified that the blockade would be enforced against vessels of all nations entering or departing Iranian ports, but would not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports.
Now, after more than two weeks, Pete Hegseth has been saying the US blockade is working and getting stronger, describing it as “ironclad,” “tightening by the hour,” and even “going global.” He said the Navy had turned back 34 ships, that transit through the Strait of Hormuz is now “much more limited,” and that the blockade will last “as long as it takes.”
He also framed the blockade as coercive leverage on Iran, saying it is meant to cut off shipping pressure until Tehran abandons its nuclear ambitions. In the same remarks, he warned the US would “shoot to destroy” any Iranian boats laying mines or otherwise threatening commercial shipping.
Here’s what the available data tells us about Strait of Hormuz transits since April 15:
Daily volumes (around April 15): On April 15 alone, there were 19 transits — 5 inbound and 14 outbound — according to Windward. Around that same period, April 11 saw 17 transits, April 12 saw 21, and April 13 saw 17. https://www.unitedagainstnucleariran.com/blog/iran-war-shipping-update-april-15-2026https://windward.ai/blog/one-week-into-the-ceasefire/
Overall picture since April 15: A precise cumulative total from April 15 through today (April 30) isn’t publicly available in a single figure, but based on the data points above, daily transits have been running roughly in the range of 6–21 ships per day. Recent data from Windward and AIS trackers confirm persistent low volumes of 6–13 vessels daily.
That would put a rough estimate somewhere in the ballpark of 100–200 total transits over the 15-day stretch since April 15 — though the true number could be higher due to GPS spoofing. I can’t comment on GPS spoofing, but I can say with certainty that Pete Hegseth is spoofing the American public about the effectiveness of the blockade.
In order to understand Hegseth’s perfidy, you need to understand the US Navy doctrine for handling a blockade. The US Navy’s approach to taking control of a ship seized during a blockade centers on Visit, Board, Search, and Seizure (VBSS) operations, governed primarily by the Commander’s Handbook on the Law of Naval Operations (NWP 1-14M/MCTP 11-10B, March 2022) and aligned with the law of armed conflict (LOAC), including customary rules on blockades.
Standard Procedure for Seizure & Control
- Interception and Warnings: US forces (Navy warships, often with Marine or Coast Guard support) issue radio warnings, visual signals, or warning shots to order the vessel to stop. Non-compliance can lead to disabling fire (e.g., targeting engines) to halt the ship without sinking it.
- Boarding (VBSS): A specialized boarding party—typically from the Navy, Marines (e.g., 31st MEU), or Coast Guard—approaches via small boats, helicopters, or fast-roping. The team secures the bridge, engine room, and key areas to establish control. Teams train for both compliant and non-compliant (opposed) boardings, using tactics for close-quarters battle, searches, and restraint of crew.
- Taking Control:
The boarding party assumes operational command of the vessel.
In a formal wartime blockade or armed conflict context, a prize crew (detachment of US personnel) may be placed aboard to sail the seized ship to a friendly port for adjudication. The original crew can be detained, removed, or (for neutrals) sometimes allowed limited continued presence under guard.
The ship and cargo become subject to inspection for contraband, sanctions violations, or blockade breach. Under prize law (revivable in armed conflict), a prize court may condemn the vessel/cargo as lawful prize.
- Post-Seizure: Here is the key point: the vessel is typically escorted to a US or allied port for further inspection, potential forfeiture, or release if the capture is deemed unlawful. Crew handling follows LOAC (e.g., humane treatment; possible internment for belligerents).
Blockades are acts of war requiring effective enforcement (impartial, declared, and maintained by force). Violators (enemy or neutral ships breaching or attempting to breach) are subject to capture
Now that you understand the procedure, let’s look at the US Navy's constraints. As I discussed in my last article, the US Navy is keeping its ships 200 miles off the coast of Iran. If the venture any closer to shore they are vulnerable to missile and drone attacks. The Iranian ships — when they leave port — normally stay within 50 miles of the Iranian coast, which means they are outside the reach of the US Navy.
Fifty two Iranian vessels have crossed a US-imposed blockade of Iranian waters within a 72-hour period...
https://t.co/mZrwK5qijI
— Trita Parsi (@tparsi) https://twitter.com/tparsi/status/2049563234458292726?ref_src=twsrc%5Etfw
Next, let’s look at the current US Navy order of battle (this is based on publicly available information). As of late April 2026, the US Navy has at least 14 actively operating or supporting in the broader region (Gulf of Oman, Arabian Sea, and relevant Indian Ocean areas). This includes three Carrier Strike Groups (CSGs); at least eight multiple guided-missile destroyers; six ships attached to the Amphibious Ready Groups (ARG) for the 31st and 11th MEUs, and two additional escorts (not part of the core ARG but often operate with it): the Cruiser USS Robert Smalls (CG-62) and the destroyer USS Rafael Peralta (DDG-115), forming a broader Expeditionary Strike Group. In other words, the US Navy only as 11 ships that could be used in a VBSS operation.
Do you see the math problem? The current US deployment means that the US Navy could do VBSS operations on 11 vessels… Tops! But that would mean that US destroyers, which have the mission of protecting the US carriers from air attacks, would have to be pulled off of their primary mission leaving the carriers to fend for themselves. If we assume that all 11 US ships carried out successful VBSS operations since 15 April, that means between 89% and 96% of all Iranian ships out of the Strait of Hormuz have evaded the blockade. Hegseth is lying.
https://cms.zerohedge.com/users/tyler-durden
Fri, 05/01/2026 - 22:25
https://www.zerohedge.com/geopolitical/ex-cia-analyst-warns-hegseths-claim-ironclad-hormuz-blockade-deeply-misleading
Hershey CEO Says GLP-1 Boom Fuels Demand For Gum And Mints
Hershey CEO Says GLP-1 Boom Fuels Demand For Gum And Mints
Hershey reported first-quarter sales and earnings that exceeded Bloomberg-tracked analyst expectations, driven by higher candy prices and resilient consumer demand.
Beyond the earnings report, CEO Kirk Tanner made one very notable comment in prepared remarks: demand for gum and mints remains strong, with the category benefiting from "functional snacking" tailwinds tied to GLP-1 adoption.
"We've also seen strong demand for gum and mint products as the category benefits from functional snacking tailwinds, including GLP-1 adoption," Tanner said.
GLP-1 drugs suppress appetite and slow digestion, so it appears that many users who no longer want a full calorie-packed snack or meal are gravitating toward gum and mints instead.
That is an unexpected positive for Hershey, a company best known for Reese's, Kit Kat in the U.S., Almond Joy, Mounds, York, Twizzlers, and other confectionery brands.
While weight-loss drugs have raised concerns about reduced calorie intake and lower food purchases, Hershey's gum and mint portfolio appears to be benefiting from a shift toward lower-calorie gum and mints.
Tanner told analysts on the earnings call, "It is a treat, not a meal," adding that the company is spending a lot of time researching the expanding use of GLP-1 drugs and incorporating that into its outlook. "The confection category is relatively insulated compared to other food categories."
https://cms.zerohedge.com/users/tyler-durden
Thu, 04/30/2026 - 20:05
https://www.zerohedge.com/markets/hershey-ceo-says-glp-1-boom-fuels-demand-gum-and-mints
Hershey CEO Says GLP-1 Boom Fuels Demand For Gum And Mints
Hershey reported first-quarter sales and earnings that exceeded Bloomberg-tracked analyst expectations, driven by higher candy prices and resilient consumer demand.
Beyond the earnings report, CEO Kirk Tanner made one very notable comment in prepared remarks: demand for gum and mints remains strong, with the category benefiting from "functional snacking" tailwinds tied to GLP-1 adoption.
"We've also seen strong demand for gum and mint products as the category benefits from functional snacking tailwinds, including GLP-1 adoption," Tanner said.
GLP-1 drugs suppress appetite and slow digestion, so it appears that many users who no longer want a full calorie-packed snack or meal are gravitating toward gum and mints instead.
That is an unexpected positive for Hershey, a company best known for Reese's, Kit Kat in the U.S., Almond Joy, Mounds, York, Twizzlers, and other confectionery brands.
While weight-loss drugs have raised concerns about reduced calorie intake and lower food purchases, Hershey's gum and mint portfolio appears to be benefiting from a shift toward lower-calorie gum and mints.
Tanner told analysts on the earnings call, "It is a treat, not a meal," adding that the company is spending a lot of time researching the expanding use of GLP-1 drugs and incorporating that into its outlook. "The confection category is relatively insulated compared to other food categories."
https://cms.zerohedge.com/users/tyler-durden
Thu, 04/30/2026 - 20:05
https://www.zerohedge.com/markets/hershey-ceo-says-glp-1-boom-fuels-demand-gum-and-mints
Here Come The Cancellations: Brookfield-Backed Compass Pulls Out From Major Northern Virginia Data Center Project
Here Come The Cancellations: Brookfield-Backed Compass Pulls Out From Major Northern Virginia Data Center Project
Compass Datacenters has decided to withdraw from its plan to develop a major data-center corridor in Northern Virginia after spending years pursuing approvals and investing tens of millions of dollars, according to https://www.bloomberg.com/news/articles/2026-04-29/brookfield-s-compass-pulls-out-of-massive-virginia-data-center?embedded-checkout=true.
The company ultimately concluded the project wasn’t feasible due to mounting legal challenges, stricter regulations, and weakening political support, particularly around tax incentives.
This move highlights a broader shift in how communities and policymakers are responding to data-center projects. Local residents have increasingly raised concerns about issues like energy consumption, environmental impact, and potential effects on property values. As a result, companies in the industry are finding it more difficult, expensive, and time-consuming to gain approval for new developments.
Bloomberg https://www.bloomberg.com/news/articles/2026-04-29/brookfield-s-compass-pulls-out-of-massive-virginia-data-center?embedded-checkout=true that the proposed project was part of a larger effort to expand Northern Virginia’s role as a global hub for data centers. However, conflicts over land use, public notice procedures, and zoning approvals led to court rulings that invalidated key permissions. Faced with the prospect of prolonged legal battles and uncertain outcomes, Compass chose to step back.
The situation also reflects growing political sensitivity around how much support these developments should receive. Debates over tax breaks and incentives have made officials more cautious, while organized community opposition has become more influential in shaping decisions. Together, these pressures are forcing companies to rethink where and how they expand.
Meanwhile, another developer involved in the broader plan is still considering whether to continue challenging the rulings, showing that while some companies are retreating, others may continue pushing forward despite the growing resistance.
Recall https://www.zerohedge.com/technology/half-us-data-centers-are-set-be-canceled-or-delayed-2026 half of US data centers scheduled for 2026 would be cancelled or delayed. We wrote then that the outlook for the US AI revolution looks increasingly more dim.
That's because, as Canaccord Genuity analyst George Gianarikas writes, "the American data center boom is hitting a formidable wall of logistical friction." He is referring to the latest outlook by https://www.sightlineclimate.com/research/data-center-outlook, which is also reinforced by recent articles from https://www.bloomberg.com/news/newsletters/2026-04-01/us-data-center-boom-relies-on-hard-to-find-electrical-equipmentand others, and reveals a sobering reality for 2026: nearly half of the nation's planned 16-gigawatt capacity faces cancellation or delay, with only 5 gigawatts currently under construction.
This inertia stems from a volatile mix of local permitting hurdles, community resistance, and a desperate reliance on overextended global supply chains for critical components like transformers and helium.
That's right: half.
That's right: despite $700BN+ of expected 2026 hyperscaler capex, nearly half of the data centers scheduled to begin operations in the US in 2026 "will either face delays or outright cancellations."
The data, which comes from https://www.sightlineclimate.com/research/data-center-outlook, suggests that just 30% - 50% of the ~16 GW of planned US capacity for the year will face risks, with only ~5 GW currently under construction!
By 2027, the gap between ambition and reality widens further, as a mere fraction of the announced 21.5 gigawatts has actually broken ground. Worse, according to https://futurism.com/science-energy/data-centers-construction-supply, data centers slated to open in 2027 are progressing far more slowly than anticipated. "Only about 6.3 gigawatts worth of computing infrastructure are actually under construction, compared to 21.5 announced gigawatts."
And then visibility drops to virtually nothing beyond 2028 as uncertainty increases materially in the outer years. According to the article, "things get even dodgier in the coming years, with the vast majority of data centers planned for launch between 2028 and 2032 having yet to even break ground. There are a further 37 gigawatts of planned infrastructure which haven’t even received a firm completion date, only 4.5 [gigawatts] of which have actually begun work."
This trend suggests an increasingly uncertain future for the industry, where power constraints and grid instability cast long shadows over projects slated through 2032.
https://cms.zerohedge.com/users/tyler-durden
Thu, 04/30/2026 - 19:40
https://www.zerohedge.com/markets/here-come-cancellations-brookfield-backed-compass-pulls-out-major-northern-virginia-data
Here Come The Cancellations: Brookfield-Backed Compass Pulls Out From Major Northern Virginia Data Center Project
Compass Datacenters has decided to withdraw from its plan to develop a major data-center corridor in Northern Virginia after spending years pursuing approvals and investing tens of millions of dollars, according to https://www.bloomberg.com/news/articles/2026-04-29/brookfield-s-compass-pulls-out-of-massive-virginia-data-center?embedded-checkout=true.
The company ultimately concluded the project wasn’t feasible due to mounting legal challenges, stricter regulations, and weakening political support, particularly around tax incentives.
This move highlights a broader shift in how communities and policymakers are responding to data-center projects. Local residents have increasingly raised concerns about issues like energy consumption, environmental impact, and potential effects on property values. As a result, companies in the industry are finding it more difficult, expensive, and time-consuming to gain approval for new developments.
Bloomberg https://www.bloomberg.com/news/articles/2026-04-29/brookfield-s-compass-pulls-out-of-massive-virginia-data-center?embedded-checkout=true that the proposed project was part of a larger effort to expand Northern Virginia’s role as a global hub for data centers. However, conflicts over land use, public notice procedures, and zoning approvals led to court rulings that invalidated key permissions. Faced with the prospect of prolonged legal battles and uncertain outcomes, Compass chose to step back.
The situation also reflects growing political sensitivity around how much support these developments should receive. Debates over tax breaks and incentives have made officials more cautious, while organized community opposition has become more influential in shaping decisions. Together, these pressures are forcing companies to rethink where and how they expand.
Meanwhile, another developer involved in the broader plan is still considering whether to continue challenging the rulings, showing that while some companies are retreating, others may continue pushing forward despite the growing resistance.
Recall https://www.zerohedge.com/technology/half-us-data-centers-are-set-be-canceled-or-delayed-2026 half of US data centers scheduled for 2026 would be cancelled or delayed. We wrote then that the outlook for the US AI revolution looks increasingly more dim.
That's because, as Canaccord Genuity analyst George Gianarikas writes, "the American data center boom is hitting a formidable wall of logistical friction." He is referring to the latest outlook by https://www.sightlineclimate.com/research/data-center-outlook, which is also reinforced by recent articles from https://www.bloomberg.com/news/newsletters/2026-04-01/us-data-center-boom-relies-on-hard-to-find-electrical-equipmentand others, and reveals a sobering reality for 2026: nearly half of the nation's planned 16-gigawatt capacity faces cancellation or delay, with only 5 gigawatts currently under construction.
This inertia stems from a volatile mix of local permitting hurdles, community resistance, and a desperate reliance on overextended global supply chains for critical components like transformers and helium.
That's right: half.
That's right: despite $700BN+ of expected 2026 hyperscaler capex, nearly half of the data centers scheduled to begin operations in the US in 2026 "will either face delays or outright cancellations."
The data, which comes from https://www.sightlineclimate.com/research/data-center-outlook, suggests that just 30% - 50% of the ~16 GW of planned US capacity for the year will face risks, with only ~5 GW currently under construction!
By 2027, the gap between ambition and reality widens further, as a mere fraction of the announced 21.5 gigawatts has actually broken ground. Worse, according to https://futurism.com/science-energy/data-centers-construction-supply, data centers slated to open in 2027 are progressing far more slowly than anticipated. "Only about 6.3 gigawatts worth of computing infrastructure are actually under construction, compared to 21.5 announced gigawatts."
And then visibility drops to virtually nothing beyond 2028 as uncertainty increases materially in the outer years. According to the article, "things get even dodgier in the coming years, with the vast majority of data centers planned for launch between 2028 and 2032 having yet to even break ground. There are a further 37 gigawatts of planned infrastructure which haven’t even received a firm completion date, only 4.5 [gigawatts] of which have actually begun work."
This trend suggests an increasingly uncertain future for the industry, where power constraints and grid instability cast long shadows over projects slated through 2032.
https://cms.zerohedge.com/users/tyler-durden
Thu, 04/30/2026 - 19:40
https://www.zerohedge.com/markets/here-come-cancellations-brookfield-backed-compass-pulls-out-major-northern-virginia-data
What Is the Trump Administration Really Trying To Do With The Latest Comey Indictment?
What Is the Trump Administration Really Trying To Do With The Latest Comey Indictment?
On Tuesday, a federal grand jury in the Eastern District of North Carolina handed down a two-count indictment against the former FBI director James Comey, charging him with threatening the life of President Donald Trump and transmitting that threat across state lines.
The basis for the charges: an Instagram post from May 2025 in which Comey shared a photo captioned "Cool shell formation on my beach walk." The shells on the sand spelled out "86 47." Each count carries a maximum of ten years in federal prison.
Comey deleted the post the same day it went up and issued an immediate clarification on social media. "I didn't realize some folks associate those numbers with violence," he wrote. "It never occurred to me, but I oppose violence of any kind, so I took the post down." He later told interviewers that he and his wife had simply spotted the formation during a stroll along a North Carolina beach and read it as a quirky, possibly restaurant-themed joke. Despite the dubious explanation, from the moment the post became controversial, legal analysts were skeptical that a case against him was possible.
There still appears to be bipartisan agreement on this point.
"It's a seashell case, nine, ten months old, and it will never go anywhere," Joe Scarborough https://www.mediaite.com/media/tv/joe-scarborough-predicts-dojs-stupid-comey-seashell-case-will-get-laughed-out-of-court/ on MSNOW's Morning Joe. "It will have the opposite impact, and they'll get laughed out of court."
Constitutional scholar Jonathan Turley, one of Trump's more reliable legal allies, agreed the case has little legal merit, despite the indictment.
"To convict Comey, the Justice Department will have to show that his adolescent picture was a 'true threat' under 18 U.S.C. § 871 and § 875(c). It is not." He went further, invoking the founding era: "This nation was founded in rage. The Boston Tea Party was rage. In forming this more perfect union, we created the world's greatest protection of free speech in history." Not exactly a ringing endorsement of the prosecution's theory.
First Amendment protections for political speech are remarkably broad. Under Brandenburg v. Ohio, the Supreme Courthttps://supreme.justia.com/cases/federal/us/395/444/ that the government cannot punish inflammatory speech unless it is "directed to inciting or producing imminent lawless action and is likely to incite or produce such action" - a standard that has shielded provocateurs far more combustible than a retired FBI director posting a picture of seashells.
Former CNN analyst Chris Cillizza has his own theory about what is really behind this latest indictment. According to Cillizza, Trump is less concerned about whether Comey goes to jail than he is with just making Comey's life miserable.
“It's impossible to separate both of those indictments, the one in September and the one today, from Donald Trump's absolutely repeatedly expressed belief that the Department of Justice exists to target and punish his political enemies,” Cillizza mused. “Now, again, whether they would actually be guilty in a court of law, we shall see, but to punish these people. So we saw Comey indicted in September 2025, since dropped. We saw Letitia James, another big political enemy in Donald Trump's mind of his, also indicted, charges dropped. We've seen John Bolton, the, a major Trump critic, indicted, and now we see Comey indicted again.”
Donald Trump doesn't really care if Jim Comey goes to jail.
He just wants to make Comey's life miserable for as long as possible. https://t.co/7wsHW32kGp
— Chris Cillizza (@ChrisCillizza) https://twitter.com/ChrisCillizza/status/2049260305742532987?ref_src=twsrc%5Etfw
Cillizza gets some things wrong here. The Letitia James and the previous Comey case were tossed by a Clinton-appointed judge who claimed that the Justice Department illegally appointed the prosecutor who brought the charges at President Donald Trump's urging. They were not tossed on the merits.
Is Trump trying to make life difficult for his enemies? Acting Attorney General Todd Blanche https://www.cbsnews.com/news/james-comey-indictment-todd-blanche-trump/ on this suggestion on CBS Tuesday, insisting the administration had been investigating the matter for nearly a year and that a grand jury - not the White House - returned the indictment. "Of course not, absolutely, positively not," Blanche said when asked whether Trump directed the charges. The indictment itself argues that a "reasonable recipient who is familiar with the circumstances" would interpret the shell arrangement as a serious expression of an intent to do harm to President Trump. That framing will be tested the moment a federal judge reads the First Amendment.
There is a certain irony lodged in all of this. Trump spent years - genuinely - defending himself from what he called a weaponized justice system. The Russia investigation, the two bogus impeachments, the civil fraud trial in New York, the classified documents case, the January 6 prosecution: whatever one thinks of any individual charge, the cumulative weight of it was real and politically motivated in ways that even Trump's critics occasionally acknowledged.
But out of those assaults, the president emerged convinced that the DOJ had become a political instrument and that the only way to respond was to go after those who abused their power in the first place.
The trouble is that a seashell photograph does not make for a compelling demonstration of that principle. There are documented, substantive cases to be made against Comey - his handling of the Hillary Clinton email investigation, his unauthorized leaking of memos to the press, and his role in initiating the surveillance of a sitting president's campaign. Those are the cases that would survive scrutiny, attract serious legal arguments, and perhaps hold up before a jury. Instead, the administration is going to federal court over a photo of seashells.
Blanche said Tuesday, "If anybody in this country thinks … that it is okay for anybody to threaten the president of the United States … then we have a bigger problem than I even imagined." That may be true. But first you have to prove the threat was real - and that argument, and experts on both sides aren't seeing how this meets that standard.
https://cms.zerohedge.com/users/tyler-durden
Thu, 04/30/2026 - 18:50
https://www.zerohedge.com/political/what-trump-administration-really-trying-do-latest-comey-indictment
What Is the Trump Administration Really Trying To Do With The Latest Comey Indictment?
On Tuesday, a federal grand jury in the Eastern District of North Carolina handed down a two-count indictment against the former FBI director James Comey, charging him with threatening the life of President Donald Trump and transmitting that threat across state lines.
The basis for the charges: an Instagram post from May 2025 in which Comey shared a photo captioned "Cool shell formation on my beach walk." The shells on the sand spelled out "86 47." Each count carries a maximum of ten years in federal prison.
Comey deleted the post the same day it went up and issued an immediate clarification on social media. "I didn't realize some folks associate those numbers with violence," he wrote. "It never occurred to me, but I oppose violence of any kind, so I took the post down." He later told interviewers that he and his wife had simply spotted the formation during a stroll along a North Carolina beach and read it as a quirky, possibly restaurant-themed joke. Despite the dubious explanation, from the moment the post became controversial, legal analysts were skeptical that a case against him was possible.
There still appears to be bipartisan agreement on this point.
"It's a seashell case, nine, ten months old, and it will never go anywhere," Joe Scarborough https://www.mediaite.com/media/tv/joe-scarborough-predicts-dojs-stupid-comey-seashell-case-will-get-laughed-out-of-court/ on MSNOW's Morning Joe. "It will have the opposite impact, and they'll get laughed out of court."
Constitutional scholar Jonathan Turley, one of Trump's more reliable legal allies, agreed the case has little legal merit, despite the indictment.
"To convict Comey, the Justice Department will have to show that his adolescent picture was a 'true threat' under 18 U.S.C. § 871 and § 875(c). It is not." He went further, invoking the founding era: "This nation was founded in rage. The Boston Tea Party was rage. In forming this more perfect union, we created the world's greatest protection of free speech in history." Not exactly a ringing endorsement of the prosecution's theory.
First Amendment protections for political speech are remarkably broad. Under Brandenburg v. Ohio, the Supreme Courthttps://supreme.justia.com/cases/federal/us/395/444/ that the government cannot punish inflammatory speech unless it is "directed to inciting or producing imminent lawless action and is likely to incite or produce such action" - a standard that has shielded provocateurs far more combustible than a retired FBI director posting a picture of seashells.
Former CNN analyst Chris Cillizza has his own theory about what is really behind this latest indictment. According to Cillizza, Trump is less concerned about whether Comey goes to jail than he is with just making Comey's life miserable.
“It's impossible to separate both of those indictments, the one in September and the one today, from Donald Trump's absolutely repeatedly expressed belief that the Department of Justice exists to target and punish his political enemies,” Cillizza mused. “Now, again, whether they would actually be guilty in a court of law, we shall see, but to punish these people. So we saw Comey indicted in September 2025, since dropped. We saw Letitia James, another big political enemy in Donald Trump's mind of his, also indicted, charges dropped. We've seen John Bolton, the, a major Trump critic, indicted, and now we see Comey indicted again.”
Donald Trump doesn't really care if Jim Comey goes to jail.
He just wants to make Comey's life miserable for as long as possible. https://t.co/7wsHW32kGp
— Chris Cillizza (@ChrisCillizza) https://twitter.com/ChrisCillizza/status/2049260305742532987?ref_src=twsrc%5Etfw
Cillizza gets some things wrong here. The Letitia James and the previous Comey case were tossed by a Clinton-appointed judge who claimed that the Justice Department illegally appointed the prosecutor who brought the charges at President Donald Trump's urging. They were not tossed on the merits.
Is Trump trying to make life difficult for his enemies? Acting Attorney General Todd Blanche https://www.cbsnews.com/news/james-comey-indictment-todd-blanche-trump/ on this suggestion on CBS Tuesday, insisting the administration had been investigating the matter for nearly a year and that a grand jury - not the White House - returned the indictment. "Of course not, absolutely, positively not," Blanche said when asked whether Trump directed the charges. The indictment itself argues that a "reasonable recipient who is familiar with the circumstances" would interpret the shell arrangement as a serious expression of an intent to do harm to President Trump. That framing will be tested the moment a federal judge reads the First Amendment.
There is a certain irony lodged in all of this. Trump spent years - genuinely - defending himself from what he called a weaponized justice system. The Russia investigation, the two bogus impeachments, the civil fraud trial in New York, the classified documents case, the January 6 prosecution: whatever one thinks of any individual charge, the cumulative weight of it was real and politically motivated in ways that even Trump's critics occasionally acknowledged.
But out of those assaults, the president emerged convinced that the DOJ had become a political instrument and that the only way to respond was to go after those who abused their power in the first place.
The trouble is that a seashell photograph does not make for a compelling demonstration of that principle. There are documented, substantive cases to be made against Comey - his handling of the Hillary Clinton email investigation, his unauthorized leaking of memos to the press, and his role in initiating the surveillance of a sitting president's campaign. Those are the cases that would survive scrutiny, attract serious legal arguments, and perhaps hold up before a jury. Instead, the administration is going to federal court over a photo of seashells.
Blanche said Tuesday, "If anybody in this country thinks … that it is okay for anybody to threaten the president of the United States … then we have a bigger problem than I even imagined." That may be true. But first you have to prove the threat was real - and that argument, and experts on both sides aren't seeing how this meets that standard.
https://cms.zerohedge.com/users/tyler-durden
Thu, 04/30/2026 - 18:50
https://www.zerohedge.com/political/what-trump-administration-really-trying-do-latest-comey-indictment
Barclays Maintains Bullish Stance On Nuclear
Barclays Maintains Bullish Stance On Nuclear
Barclays is out with a report on nuclear and how the industry is progressing from conviction to construction. The report highlights year-to-date regulatory developments, demand and execution signals and market pricing across the industry.
Last year, Barclays argued three core points regarding nuclear energy:
- A nuclear renaissance is underway driven by energy security, decarbonization, and AI power demand
- The nuclear fuel cycle is likely to be an upstream bottleneck that requires reshoring
- As the theme matures, practical hurdles will take center stage, such as speed to power, labor, permitting, and unit economics
Given the run up in their broad global nuclear ecosystem index (BCGLNUCL +19%) this year, there is undoubtedly a continued interest in the nuclear theme. This also correlates with “a broad rotation from capital-light to capital-heavy (HALO) sectors”.
The market seems to be distinguishing between the themes within the nuclear renaissance, with companies in the nuclear fuel chain (BCNUCLUR +30%) providing higher returns YTD than the broader nuclear ecosystem…
The bar is being set higher by investors lately, though, with money being “less willing to fund nuclear on narrative alone, instead increasingly rewarding delivery of existing megawatts, visible https://www.zerohedge.com/technology/historic-day-nuclear-industry-novel-technology-reactor-gets-first-federal-approval or at least a credible bridge from concept to contracted project”.
As https://www.zerohedge.com/energy/why-nuclear-energy-more-vital-ever most others started realizing it, Barclays also notes how the Iran war has accentuated national energy security concerns. It has not gone unnoticed how countries like France have had little to care about with the dramatic energy market price swings, while countries like https://www.zerohedge.com/political/germanys-economy-minister-urges-nuclear-rethink-energy-prices-surge-growth-forecasts and other Asian nations have suffered.
The Iran war has also led to a plus for nuclear energy adoption in Europe based on the broader concept of the strategic autonomy agenda at the EU.
As it should be well understood by our readers at this point, the underwriting of nuclear development by hyperscalers has given significant confidence to the adoption of nuclear energy in the US. Massive energy deals from https://www.zerohedge.com/markets/meta-signs-massive-nuclear-energy-deal, https://www.zerohedge.com/ai/ai-boom-powering-nuclear-renaissance, https://www.zerohedge.com/markets/google-deal-nextera-will-restart-iowa-nuclear-plant-2029, and https://www.zerohedge.com/energy/amazon-invest-20-billion-pennsylvania-expand-cloud-infrastructure have all highlighted the significant role to be played by a power source that's actually clean and reliable.
While Barclays notes there are plenty of bottlenecks that remain throughout the nuclear industry, “progress has become more visible in areas that matter most for build out”. Issues are being worked on in concrete ways throughout the fuel cycle, licensing, and component supply areas.
The report emphasizes that the clearest evidence of progress is in the fuel cycle. Progress is turning into production at US uranium mines and major projects are progressing through development in Canada.
Other award programs from the U.S Department of Energy are also boosting the front end of the fuel chain, specifically the https://www.zerohedge.com/energy/centrus-energy-soars-after-doe-awards-27-billion-uranium-enrichment for enrichment capacity.
Significant progress has also been made on the regulation front with improvements to https://www.zerohedge.com/energy/6-12-months-construction-permits-nuclear-regulation-overhaul and https://www.zerohedge.com/energy/oklo-lands-first-nrc-license-and-another-doe-milestone for iteration and demonstration of new reactor technology.
With site-specific planning ongoing, along with early component ordering, “the industry is beginning to bridge the gap between design ambition and concrete delivery”.
Calling back to their previous point of the labor bottleneck, this challenge is starting to work its way to be the leading issue. Unlike a lot of the supply chain issues, which are mostly solved with more money, “https://www.zerohedge.com/markets/power-america-needs-500000-highly-skilled-workers remain deeply structural and are likely to take longer to ease”.
And then there is the issue of where the US gets 300,000 engineers to build all this missing power supply by 2030 https://t.co/a18crhqZ4v https://t.co/tinW8SHDwM
— zerohedge (@zerohedge) https://twitter.com/zerohedge/status/1977928989088919657?ref_src=twsrc%5Etfw
At Barclay's recent NextGen Energy Conference in New York, the participants reportedly highlighted labor as a critical and growing https://www.zerohedge.com/ai/three-key-constraints-could-derail-data-center-buildout-story on both the data center construction and power generation construction areas. Data centers and reactor plants will find themselves competing for the same limited pool of electricians, engineers, and experienced construction labor.
This leads to Barclays making the closing statement that “labour is now emerging as perhaps the most important residual hurdle to the pace of the nuclear renaissance, with progress in this area likely to play a key role in determining whether improving policy support and hyperscaler demand can translate into build-out at scale”.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 18:00
https://www.zerohedge.com/energy/barclays-maintains-bullish-stance-nuclear
Barclays Maintains Bullish Stance On Nuclear
Barclays is out with a report on nuclear and how the industry is progressing from conviction to construction. The report highlights year-to-date regulatory developments, demand and execution signals and market pricing across the industry.
Last year, Barclays argued three core points regarding nuclear energy:
- A nuclear renaissance is underway driven by energy security, decarbonization, and AI power demand
- The nuclear fuel cycle is likely to be an upstream bottleneck that requires reshoring
- As the theme matures, practical hurdles will take center stage, such as speed to power, labor, permitting, and unit economics
Given the run up in their broad global nuclear ecosystem index (BCGLNUCL +19%) this year, there is undoubtedly a continued interest in the nuclear theme. This also correlates with “a broad rotation from capital-light to capital-heavy (HALO) sectors”.
The market seems to be distinguishing between the themes within the nuclear renaissance, with companies in the nuclear fuel chain (BCNUCLUR +30%) providing higher returns YTD than the broader nuclear ecosystem…
The bar is being set higher by investors lately, though, with money being “less willing to fund nuclear on narrative alone, instead increasingly rewarding delivery of existing megawatts, visible https://www.zerohedge.com/technology/historic-day-nuclear-industry-novel-technology-reactor-gets-first-federal-approval or at least a credible bridge from concept to contracted project”.
As https://www.zerohedge.com/energy/why-nuclear-energy-more-vital-ever most others started realizing it, Barclays also notes how the Iran war has accentuated national energy security concerns. It has not gone unnoticed how countries like France have had little to care about with the dramatic energy market price swings, while countries like https://www.zerohedge.com/political/germanys-economy-minister-urges-nuclear-rethink-energy-prices-surge-growth-forecasts and other Asian nations have suffered.
The Iran war has also led to a plus for nuclear energy adoption in Europe based on the broader concept of the strategic autonomy agenda at the EU.
As it should be well understood by our readers at this point, the underwriting of nuclear development by hyperscalers has given significant confidence to the adoption of nuclear energy in the US. Massive energy deals from https://www.zerohedge.com/markets/meta-signs-massive-nuclear-energy-deal, https://www.zerohedge.com/ai/ai-boom-powering-nuclear-renaissance, https://www.zerohedge.com/markets/google-deal-nextera-will-restart-iowa-nuclear-plant-2029, and https://www.zerohedge.com/energy/amazon-invest-20-billion-pennsylvania-expand-cloud-infrastructure have all highlighted the significant role to be played by a power source that's actually clean and reliable.
While Barclays notes there are plenty of bottlenecks that remain throughout the nuclear industry, “progress has become more visible in areas that matter most for build out”. Issues are being worked on in concrete ways throughout the fuel cycle, licensing, and component supply areas.
The report emphasizes that the clearest evidence of progress is in the fuel cycle. Progress is turning into production at US uranium mines and major projects are progressing through development in Canada.
Other award programs from the U.S Department of Energy are also boosting the front end of the fuel chain, specifically the https://www.zerohedge.com/energy/centrus-energy-soars-after-doe-awards-27-billion-uranium-enrichment for enrichment capacity.
Significant progress has also been made on the regulation front with improvements to https://www.zerohedge.com/energy/6-12-months-construction-permits-nuclear-regulation-overhaul and https://www.zerohedge.com/energy/oklo-lands-first-nrc-license-and-another-doe-milestone for iteration and demonstration of new reactor technology.
With site-specific planning ongoing, along with early component ordering, “the industry is beginning to bridge the gap between design ambition and concrete delivery”.
Calling back to their previous point of the labor bottleneck, this challenge is starting to work its way to be the leading issue. Unlike a lot of the supply chain issues, which are mostly solved with more money, “https://www.zerohedge.com/markets/power-america-needs-500000-highly-skilled-workers remain deeply structural and are likely to take longer to ease”.
And then there is the issue of where the US gets 300,000 engineers to build all this missing power supply by 2030 https://t.co/a18crhqZ4v https://t.co/tinW8SHDwM
— zerohedge (@zerohedge) https://twitter.com/zerohedge/status/1977928989088919657?ref_src=twsrc%5Etfw
At Barclay's recent NextGen Energy Conference in New York, the participants reportedly highlighted labor as a critical and growing https://www.zerohedge.com/ai/three-key-constraints-could-derail-data-center-buildout-story on both the data center construction and power generation construction areas. Data centers and reactor plants will find themselves competing for the same limited pool of electricians, engineers, and experienced construction labor.
This leads to Barclays making the closing statement that “labour is now emerging as perhaps the most important residual hurdle to the pace of the nuclear renaissance, with progress in this area likely to play a key role in determining whether improving policy support and hyperscaler demand can translate into build-out at scale”.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 18:00
https://www.zerohedge.com/energy/barclays-maintains-bullish-stance-nuclear
The Day The Memecoin Dies
The Day The Memecoin Dies
Submitted by https://quoththeraven.substack.com/p/the-day-the-memecoin-dies
I opened Twitter this morning and saw a photo of a group of guys, lanyards swinging, hoodies zipped, shuffling off to a “memecoin conference.”
Which is to say we have reached the point in the batshit insanity cycle where people are boarding planes and booking hotels to celebrate coins that started as jokes about dogs. Pause and really sit with that.
Memecoins are not businesses. They are not technologies in any meaningful sense. They produce nothing, fix nothing, and generate exactly zero in revenue unless you count the transfer of money from the last guy in to the guy just ahead of him. They are vapor. Digitized empty space. Financial air pockets passed hand to hand with a straight face, as if this is all perfectly rational behavior.
And right now, it feels normal.
Of course it does. Markets are pressing highs. The Shiller P/E ratio is floating around nosebleed territory at 40x still. Everyone is still making money, or thinks they are. Risk is a punchline despite AI deals falling apart and private credit imploding. In that kind of environment, a memecoin conference doesn’t look insane. It looks like networking.
Now fast forward. Not a polite dip. Not a minor wobble. A real drawdown in the stock market. 30%, maybe more. The kind that makes people stop checking their portfolios because they already know what they’ll see. The kind that turns group chats quiet.
Now try pitching Dogecoin in that environment. Try explaining Shiba Inu to someone who just watched a third of their net worth evaporate. Go ahead, tell them it’s “community driven” and see how far that gets you. What passes for clever marketing in a bull market starts to sound like a bad joke when people are bleeding money. That’s when this whole thing stops being cute. And trust me, it’ll happen.
Because memecoins don’t have a floor. There is no underlying business, no cash flow, no assets, no mechanism to anchor price to reality. When sentiment breaks, there is nothing to catch them. They don’t fall, they disappear. Liquidity dries up, bids vanish, and what was once “worth” billions becomes a ghost town of abandoned tickers and bagholders like it all existed on Alderaan the day before the Death Star vaporized it.
And yes, before the emails come in, maybe Bitcoin has a role. Maybe Ethereum does too. Fine. Debate that all you want. But crypto as a whole still sits at the far edge of the risk spectrum. It is where excess lives. It is where speculation goes when plain old stocks aren’t exciting enough.
And at the absolute tip of that spear, the sharpest, most unstable point, are memecoins. Of the $2.6T crypto ecosystem, bitcoin is $1.5T and ethereum is $274B. That would still leave about $750 billion in excess bullshit and nonsense that doesn’t necessarily need to exist for any reason.
🔥 50% OFF FOR LIFE: Using this coupon entitles you to 50% off an annual subscription to Fringe Finance for life: https://quoththeraven.substack.com/subscribe?coupon=d8097c43
They are not investments. They are momentum traps wrapped in irony. They only work as long as someone more reckless shows up after you. That’s not a strategy. That’s a countdown.
I can’t believe I have to say this, but if you need a simple rule, here it is. If the entire pitch boils down to “someone else will pay more later,” you are not investing. You are volunteering to be the exit liquidity. And in markets like this, there is always someone left holding the bag. Try not to forget that…as we rush to more all time highs.
Now read:
- https://quoththeraven.substack.com/p/did-a-15-trillion-pin-just-pop-the
- https://quoththeraven.substack.com/p/everything-in-global-economics-comes
- https://quoththeraven.substack.com/p/a-proven-skeptic-raises-another-ponzi
- https://quoththeraven.substack.com/p/spacex-incentives-and-perception
--
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The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 17:40
https://www.zerohedge.com/markets/day-memecoin-dies
The Day The Memecoin Dies
Submitted by https://quoththeraven.substack.com/p/the-day-the-memecoin-dies
I opened Twitter this morning and saw a photo of a group of guys, lanyards swinging, hoodies zipped, shuffling off to a “memecoin conference.”
Which is to say we have reached the point in the batshit insanity cycle where people are boarding planes and booking hotels to celebrate coins that started as jokes about dogs. Pause and really sit with that.
Memecoins are not businesses. They are not technologies in any meaningful sense. They produce nothing, fix nothing, and generate exactly zero in revenue unless you count the transfer of money from the last guy in to the guy just ahead of him. They are vapor. Digitized empty space. Financial air pockets passed hand to hand with a straight face, as if this is all perfectly rational behavior.
And right now, it feels normal.
Of course it does. Markets are pressing highs. The Shiller P/E ratio is floating around nosebleed territory at 40x still. Everyone is still making money, or thinks they are. Risk is a punchline despite AI deals falling apart and private credit imploding. In that kind of environment, a memecoin conference doesn’t look insane. It looks like networking.
Now fast forward. Not a polite dip. Not a minor wobble. A real drawdown in the stock market. 30%, maybe more. The kind that makes people stop checking their portfolios because they already know what they’ll see. The kind that turns group chats quiet.
Now try pitching Dogecoin in that environment. Try explaining Shiba Inu to someone who just watched a third of their net worth evaporate. Go ahead, tell them it’s “community driven” and see how far that gets you. What passes for clever marketing in a bull market starts to sound like a bad joke when people are bleeding money. That’s when this whole thing stops being cute. And trust me, it’ll happen.
Because memecoins don’t have a floor. There is no underlying business, no cash flow, no assets, no mechanism to anchor price to reality. When sentiment breaks, there is nothing to catch them. They don’t fall, they disappear. Liquidity dries up, bids vanish, and what was once “worth” billions becomes a ghost town of abandoned tickers and bagholders like it all existed on Alderaan the day before the Death Star vaporized it.
And yes, before the emails come in, maybe Bitcoin has a role. Maybe Ethereum does too. Fine. Debate that all you want. But crypto as a whole still sits at the far edge of the risk spectrum. It is where excess lives. It is where speculation goes when plain old stocks aren’t exciting enough.
And at the absolute tip of that spear, the sharpest, most unstable point, are memecoins. Of the $2.6T crypto ecosystem, bitcoin is $1.5T and ethereum is $274B. That would still leave about $750 billion in excess bullshit and nonsense that doesn’t necessarily need to exist for any reason.
🔥 50% OFF FOR LIFE: Using this coupon entitles you to 50% off an annual subscription to Fringe Finance for life: https://quoththeraven.substack.com/subscribe?coupon=d8097c43
They are not investments. They are momentum traps wrapped in irony. They only work as long as someone more reckless shows up after you. That’s not a strategy. That’s a countdown.
I can’t believe I have to say this, but if you need a simple rule, here it is. If the entire pitch boils down to “someone else will pay more later,” you are not investing. You are volunteering to be the exit liquidity. And in markets like this, there is always someone left holding the bag. Try not to forget that…as we rush to more all time highs.
Now read:
- https://quoththeraven.substack.com/p/did-a-15-trillion-pin-just-pop-the
- https://quoththeraven.substack.com/p/everything-in-global-economics-comes
- https://quoththeraven.substack.com/p/a-proven-skeptic-raises-another-ponzi
- https://quoththeraven.substack.com/p/spacex-incentives-and-perception
--
QTR’s Disclaimer: Please read my full legal disclaimer https://quoththeraven.substack.com/about. This post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a https://creativecommons.org/share-your-work/ with my best effort to uphold what the license asks, or with the permission of the author.
This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions. All positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. If you see numbers and calculations of any sort, assume they are wrong and double check them. I failed Algebra in 8th grade and topped off my high school math accolades by getting a D- in remedial Calculus my senior year, before becoming an English major in college so I could bullshit my way through things easier.
The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 17:40
https://www.zerohedge.com/markets/day-memecoin-dies
Putin Presents Victory Day Truce In Ukraine During 90-Minute Trump Call
Putin Presents Victory Day Truce In Ukraine During 90-Minute Trump Call
With things in the Persian Gulf and the Iran War 'stuck'... it's apparently time to pivot back to that other 'stuck' war, in Ukraine. President Trump on Wednesday spoke over the phone with his Russian counterpart Vladimir Putin, with the call reportedly lasting an impressive 1.5+ hours, and the talk centered on finding ways forward both with the Iran and Ukraine conflicts.
The most important item to emerge was that Putin reportedly proposed declaring a ceasefire in Ukraine on May 9, which is Russia's 'Victory Day' in World War II, and Trump endorsed the idea.
Russian Presidential Aide for Foreign Affairs Yury Ushakov told reporters that the call was initiated by the Moscow side - and according to him, "Vladimir Putin informed his American counterpart of his readiness to declare a truce for the period of Victory Day celebrations."
Here is some of the readout and Ushakov's remarks to the press in https://www.themoscowtimes.com/2026/04/29/putin-trump-discuss-iran-ukraine-in-phone-call-kremlin-aide-says-a92641:
"At Trump's request, Vladimir Putin described the current situation along the line of contact, where our troops are holding the strategic initiative and pushing back the enemy’s positions," Ushakov told reporters.
"Both Vladimir Putin and Donald Trump expressed essentially similar assessments of the behavior of the Kyiv regime led by [Volodymyr] Zelensky, which, incited and with the support of the Europeans, is pursuing a policy of prolonging the conflict."
Russia's invasion of Ukraine has devastated swathes of Ukrainian territory, killed thousands of civilians and forced millions to flee their homes.
Putin said he was ready "to declare a ceasefire for the duration of Victory Day celebrations. Trump actively supported this initiative, noting that the holiday marks our shared victory," Ushakov said.
The timing is interesting, given that the White House is clearly consumed with the Iran war, the Hormuz Strait crisis, and the expanding economic fallout globally and at home. Putin it seems is seeking the opportunity to soften Washington's stance toward Moscow's perspective of the Ukraine war.
But they did also heavily discuss Trump's Operation Epic Fury. Ideas for resolving the conflict were discussed - though few details on this have emerged. Putin as expected called for peace, and said that extending the ceasefire was the right move by Trump. According to some of the published https://www.themoscowtimes.com/2026/04/29/putin-trump-discuss-iran-ukraine-in-phone-call-kremlin-aide-says-a92641:
"Vladimir Putin considers Donald Trump's decision to extend the ceasefire with Iran to be the right one, as this should give negotiations a chance and, overall, help to stabilize the situation."
But Putin also "highlighted the inevitable and extremely damaging consequences not only for Iran and its neighbors, but also for the entire international community, should the U.S. and Israel resort to military action once again," Ushakov said.
He added Russia was "firmly committed to providing every possible assistance to diplomatic efforts" on the Middle East war, and said the call was held at Moscow's initiative.
Despite that Iran remains a key regional ally of Russia's, it remains that Moscow has benefited from both the easing of sanctions on its oil exports at sea, and rising global oil prices - both the result of the Iran war.
Russia x Ukraine ceasefire by end of 2026?
Yes 26% · No 75%
https://polymarket.com/event/russia-x-ukraine-ceasefire-before-2027Previously, Kremlin leaders have offered a deal where Iran could keep its enriched uranium but hold it on Russian territory, to ensure the continuation of its nuclear energy. This, Moscow has reasoned, could serve as a basis for a grand deal with the US.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 17:20
https://www.zerohedge.com/geopolitical/putin-presents-victory-day-truce-ukraine-90-minute-trump-call
Putin Presents Victory Day Truce In Ukraine During 90-Minute Trump Call
With things in the Persian Gulf and the Iran War 'stuck'... it's apparently time to pivot back to that other 'stuck' war, in Ukraine. President Trump on Wednesday spoke over the phone with his Russian counterpart Vladimir Putin, with the call reportedly lasting an impressive 1.5+ hours, and the talk centered on finding ways forward both with the Iran and Ukraine conflicts.
The most important item to emerge was that Putin reportedly proposed declaring a ceasefire in Ukraine on May 9, which is Russia's 'Victory Day' in World War II, and Trump endorsed the idea.
Russian Presidential Aide for Foreign Affairs Yury Ushakov told reporters that the call was initiated by the Moscow side - and according to him, "Vladimir Putin informed his American counterpart of his readiness to declare a truce for the period of Victory Day celebrations."
Here is some of the readout and Ushakov's remarks to the press in https://www.themoscowtimes.com/2026/04/29/putin-trump-discuss-iran-ukraine-in-phone-call-kremlin-aide-says-a92641:
"At Trump's request, Vladimir Putin described the current situation along the line of contact, where our troops are holding the strategic initiative and pushing back the enemy’s positions," Ushakov told reporters.
"Both Vladimir Putin and Donald Trump expressed essentially similar assessments of the behavior of the Kyiv regime led by [Volodymyr] Zelensky, which, incited and with the support of the Europeans, is pursuing a policy of prolonging the conflict."
Russia's invasion of Ukraine has devastated swathes of Ukrainian territory, killed thousands of civilians and forced millions to flee their homes.
Putin said he was ready "to declare a ceasefire for the duration of Victory Day celebrations. Trump actively supported this initiative, noting that the holiday marks our shared victory," Ushakov said.
The timing is interesting, given that the White House is clearly consumed with the Iran war, the Hormuz Strait crisis, and the expanding economic fallout globally and at home. Putin it seems is seeking the opportunity to soften Washington's stance toward Moscow's perspective of the Ukraine war.
But they did also heavily discuss Trump's Operation Epic Fury. Ideas for resolving the conflict were discussed - though few details on this have emerged. Putin as expected called for peace, and said that extending the ceasefire was the right move by Trump. According to some of the published https://www.themoscowtimes.com/2026/04/29/putin-trump-discuss-iran-ukraine-in-phone-call-kremlin-aide-says-a92641:
"Vladimir Putin considers Donald Trump's decision to extend the ceasefire with Iran to be the right one, as this should give negotiations a chance and, overall, help to stabilize the situation."
But Putin also "highlighted the inevitable and extremely damaging consequences not only for Iran and its neighbors, but also for the entire international community, should the U.S. and Israel resort to military action once again," Ushakov said.
He added Russia was "firmly committed to providing every possible assistance to diplomatic efforts" on the Middle East war, and said the call was held at Moscow's initiative.
Despite that Iran remains a key regional ally of Russia's, it remains that Moscow has benefited from both the easing of sanctions on its oil exports at sea, and rising global oil prices - both the result of the Iran war.
Russia x Ukraine ceasefire by end of 2026?
Yes 26% · No 75%
https://polymarket.com/event/russia-x-ukraine-ceasefire-before-2027Previously, Kremlin leaders have offered a deal where Iran could keep its enriched uranium but hold it on Russian territory, to ensure the continuation of its nuclear energy. This, Moscow has reasoned, could serve as a basis for a grand deal with the US.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 17:20
https://www.zerohedge.com/geopolitical/putin-presents-victory-day-truce-ukraine-90-minute-trump-call
Meta Plunges After Boosting Capex Outlook Again On "Higher Component Pricing"
Meta Plunges After Boosting Capex Outlook Again On "Higher Component Pricing"
The last of the giga-caps to report today, the increasingly more misnamed Meta Platforms, had some good news to report for the just completed Q1. It also had bad news, and judging by the plunge in the stock price, the market is focusing on the latter.
First, the good news: the company reported revenue and EPS both of which beat estimates, and guided Q2 revenues which came in roughly in line with estimates. Here is the breakdown.
- EPS $10.44 vs. $6.43 y/y, and beating estimates of $6.66; one note: the EPS print included a $8.03BN income tax benefit recognized in the first quarter of 2026. Excluding this benefit, EPS would have been $3.13 lower or $7.31 (at a 37 effective tax rate)
Revenue was also solid across the board
- Revenue $56.31 billion, +33% y/y, beating estimate $55.51 billion
Advertising rev. $55.02 billion, +33% y/y, beating estimate $54.16 billion
Family of Apps revenue $55.91 billion, +33% y/y, beating estimate $55 billion
Reality Labs revenue $402 million, -2.4% y/y, missing estimate $508 million
Other revenue $885 million, +74% y/y, beating estimate $741.4 million
Going down the line:
- Operating income $22.87 billion, +30% y/y
- Operating margin 41% vs. 41% y/y
Broken down by segment:
- Family of Apps operating income $26.90 billion, +24% y/y, beating estimate $24.26 billion
- Reality Labs operating loss $4.03 billion vs. loss $4.21 billion y/y, vs estimate loss $4.77 billion
Ad impressions were more mixed with ad impressions beating, Avg price per ad in line, and Avg family service users per day missing
- Ad impressions +19% vs. +5% y/y, beating estimate +16.2%
- Average price per ad +12% vs. +10% y/y, in line estimate +12%
- Average Family service users per day 3.56 billion, +3.8% y/y, missing estimate 3.61 billion
Looking ahead, the guidance was also solid with a modest increase in Q2 revenue:
- Meta sees revenue $58 billion to $61 billion, in line with the estimate $59.56 billion
- Meta still sees total expenses $162 billion to $169 billion, also in line with estimate $164.6 billion
That was the good news. The bad news, as a quarter ago when the company was slammed for its massive increase in forecast capex spending, had everything to do with - what else - capex.
Just like last quarter, Meta raised its capex outlook for the year, again, extending its streak of plowing historic levels of investment into the race to build ever-advancing artificial intelligence systems.
The social-media giant projected full-year capital expenditures between $125 billion and $145 billion, far exceeding analysts’ estimates and marking a roughly 7.4% increase from the $115-$135 billion range the company had previously projected. The company is dealing with “higher component pricing” and additional data center costs", CFO Susan Li said in a statement. At this rate, which has seen the company raise its capex by $10BN every 3 months, the company's Free Cash Flow will be deeply negative soon.
And as capex soars without a corresponding increase in revenue/EBITDA, the company's Free Cash Flow is now set to turn negative in 2026.
To offset its AI spending, Meta has recently imposed a number of cost-cutting measures. Last week, it alerted staff in an internal memo that it would be cutting roughly 8,000 jobs and wouldn’t be filling 6,000 open roles. The company had already carried out other, more limited cuts earlier this year that hit its hardware division Reality Labs, among other teams.
Evercore ISI estimated the May layoffs will save the company about $3 billion annually, and that companies will rely more on AI agents to help do tasks that once required human employees. “We believe the industry is just beginning to realize the growth opportunities coming out of agentic deployments – and the stepped-up level of investments required to support them,” Evercore analyst Mark Mahaney said in a note to investors.
Meta CEO Mark Zuckerberg had already signaled that his company will spend hundreds of billions of dollars on AI infrastructure before the end of the decade. And that was before a memory chip shortage triggered a surge in prices. The firm has announced billion-dollar deals with Nvidia Corp., Advanced Micro Devices Inc. and Broadcom Inc. for chips and other hardware and is building several massive data centers to power its efforts.
The silver lining is that there are some early signs that Meta’s investments in AI are beginning to pay off. Earlier in April, Meta debuted its latest artificial intelligence model, Muse Spark — the first released since Zuckerberg embarked on a multibillion-dollar overhaul of the company’s AI organization last year. Additional large language models are expected to roll out later this year.
The company is also facing its various legacy risks: Meta faces a threat from mounting child safety litigation. In a landmark ruling in March, a jury found Meta liable for a 20-year-old woman’s mental health struggles, which she said were caused by her addiction to social media. While Meta must pay millions to the plaintiff, the ruling could expose the company to billions of dollars in risk from additional lawsuits. Two other bellwether cases are scheduled to go to trial in California state court later this year. Meta acknowledged on Wednesday that it continues to “see scrutiny on youth-related issues and have additional trials scheduled for this year in the U.S., which may ultimately result in a material loss.”
While Meta’s stock rallied following Muse Spark’s unveiling, wiping out prior losses, it tumbled after the market was less than happy with the yet another capex increase which has yet to show tangible returns on the top line. META plunged as much as 6%, sending its stock back to red for the year.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 17:14
https://www.zerohedge.com/markets/meta-plunges-after-boosting-capex-outlook-again-higher-component-pricing
Meta Plunges After Boosting Capex Outlook Again On "Higher Component Pricing"
The last of the giga-caps to report today, the increasingly more misnamed Meta Platforms, had some good news to report for the just completed Q1. It also had bad news, and judging by the plunge in the stock price, the market is focusing on the latter.
First, the good news: the company reported revenue and EPS both of which beat estimates, and guided Q2 revenues which came in roughly in line with estimates. Here is the breakdown.
- EPS $10.44 vs. $6.43 y/y, and beating estimates of $6.66; one note: the EPS print included a $8.03BN income tax benefit recognized in the first quarter of 2026. Excluding this benefit, EPS would have been $3.13 lower or $7.31 (at a 37 effective tax rate)
Revenue was also solid across the board
- Revenue $56.31 billion, +33% y/y, beating estimate $55.51 billion
Advertising rev. $55.02 billion, +33% y/y, beating estimate $54.16 billion
Family of Apps revenue $55.91 billion, +33% y/y, beating estimate $55 billion
Reality Labs revenue $402 million, -2.4% y/y, missing estimate $508 million
Other revenue $885 million, +74% y/y, beating estimate $741.4 million
Going down the line:
- Operating income $22.87 billion, +30% y/y
- Operating margin 41% vs. 41% y/y
Broken down by segment:
- Family of Apps operating income $26.90 billion, +24% y/y, beating estimate $24.26 billion
- Reality Labs operating loss $4.03 billion vs. loss $4.21 billion y/y, vs estimate loss $4.77 billion
Ad impressions were more mixed with ad impressions beating, Avg price per ad in line, and Avg family service users per day missing
- Ad impressions +19% vs. +5% y/y, beating estimate +16.2%
- Average price per ad +12% vs. +10% y/y, in line estimate +12%
- Average Family service users per day 3.56 billion, +3.8% y/y, missing estimate 3.61 billion
Looking ahead, the guidance was also solid with a modest increase in Q2 revenue:
- Meta sees revenue $58 billion to $61 billion, in line with the estimate $59.56 billion
- Meta still sees total expenses $162 billion to $169 billion, also in line with estimate $164.6 billion
That was the good news. The bad news, as a quarter ago when the company was slammed for its massive increase in forecast capex spending, had everything to do with - what else - capex.
Just like last quarter, Meta raised its capex outlook for the year, again, extending its streak of plowing historic levels of investment into the race to build ever-advancing artificial intelligence systems.
The social-media giant projected full-year capital expenditures between $125 billion and $145 billion, far exceeding analysts’ estimates and marking a roughly 7.4% increase from the $115-$135 billion range the company had previously projected. The company is dealing with “higher component pricing” and additional data center costs", CFO Susan Li said in a statement. At this rate, which has seen the company raise its capex by $10BN every 3 months, the company's Free Cash Flow will be deeply negative soon.
And as capex soars without a corresponding increase in revenue/EBITDA, the company's Free Cash Flow is now set to turn negative in 2026.
To offset its AI spending, Meta has recently imposed a number of cost-cutting measures. Last week, it alerted staff in an internal memo that it would be cutting roughly 8,000 jobs and wouldn’t be filling 6,000 open roles. The company had already carried out other, more limited cuts earlier this year that hit its hardware division Reality Labs, among other teams.
Evercore ISI estimated the May layoffs will save the company about $3 billion annually, and that companies will rely more on AI agents to help do tasks that once required human employees. “We believe the industry is just beginning to realize the growth opportunities coming out of agentic deployments – and the stepped-up level of investments required to support them,” Evercore analyst Mark Mahaney said in a note to investors.
Meta CEO Mark Zuckerberg had already signaled that his company will spend hundreds of billions of dollars on AI infrastructure before the end of the decade. And that was before a memory chip shortage triggered a surge in prices. The firm has announced billion-dollar deals with Nvidia Corp., Advanced Micro Devices Inc. and Broadcom Inc. for chips and other hardware and is building several massive data centers to power its efforts.
The silver lining is that there are some early signs that Meta’s investments in AI are beginning to pay off. Earlier in April, Meta debuted its latest artificial intelligence model, Muse Spark — the first released since Zuckerberg embarked on a multibillion-dollar overhaul of the company’s AI organization last year. Additional large language models are expected to roll out later this year.
The company is also facing its various legacy risks: Meta faces a threat from mounting child safety litigation. In a landmark ruling in March, a jury found Meta liable for a 20-year-old woman’s mental health struggles, which she said were caused by her addiction to social media. While Meta must pay millions to the plaintiff, the ruling could expose the company to billions of dollars in risk from additional lawsuits. Two other bellwether cases are scheduled to go to trial in California state court later this year. Meta acknowledged on Wednesday that it continues to “see scrutiny on youth-related issues and have additional trials scheduled for this year in the U.S., which may ultimately result in a material loss.”
While Meta’s stock rallied following Muse Spark’s unveiling, wiping out prior losses, it tumbled after the market was less than happy with the yet another capex increase which has yet to show tangible returns on the top line. META plunged as much as 6%, sending its stock back to red for the year.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 17:14
https://www.zerohedge.com/markets/meta-plunges-after-boosting-capex-outlook-again-higher-component-pricing
Iranian Currency Hits All-Time Low As Tehran Threatens 'Unprecedented' Response To US 'Maritime Piracy'
Iranian Currency Hits All-Time Low As Tehran Threatens 'Unprecedented' Response To US 'Maritime Piracy'
https://thecradle.co/articles/iranian-currency-hits-all-time-low-as-tehran-threatens-unprecedented-response-to-us-maritime-piracy
Iran’s currency https://apnews.com/article/iran-us-war-ceasefire-rial-currency-157e7c6d099c7db8b4366bb341fc655d to a record low on Wednesday, dropping to 1.8 million against the dollar following the brutal US-Israeli war, coinciding with uncertainty over the fragile truce and rising energy prices worldwide.
The currency began a sharp descent two days ago after several weeks of artificial stability. During the initial weeks of the US-Israeli war on the Islamic Republic – which broke out on February 28 – the rial remained relatively steady, largely due to a total halt in imports and minimal market trading.
Hundreds of textile workers have been laid off, according to Iran’s Shargh newspaper. According to ISNA, in the last two days, the rial has plummeted by 15 percent.
The drop comes as Washington continues to enforce an aggressive https://thecradle.co/articles/trump-orders-aides-to-prep-for-extended-blockade-on-iran-report on Iranian ports, seizing multiple vessels recently and prompting Tehran to respond similarly. Iran has repeatedly warned that it will confront this blockade and use military action if necessary.
A high-ranking Iranian security source told https://www.presstv.ir/Detail/2026/04/29/767743/continued-us-maritime-banditry-piracy-to-met-practical-unprecedented-response-source on Wednesday that Tehran will soon use “practical and unprecedented military action” if Washington’s “piracy” does not come to an end.
“Iran's armed forces – operating under the Khatam al-Anbiya Headquarters as the war command – believe that patience has limits and that a punishing response is necessary if Washington maintains its illegal naval blockade around the Strait of Hormuz,” the source added.
🚨JUST IN: 🇮🇷IRAN’S RIAL JUST HIT ITS LOWEST LEVEL EVER
Iran's currency has collapsed so hard that 1 rial is now effectively worth ZERO U.S. dollars.
$1 now costs 1.8 MILLION Iranian rials. https://t.co/98Az7th8Dt
— Coin Bureau (@coinbureau) https://twitter.com/coinbureau/status/2049443719162589346?ref_src=twsrc%5Etfw
“The restraint shown by armed forces so far has been intended to give diplomacy a chance and allow the US to … accept Iran's conditions for ending the war permanently … This pause was meant to provide [US] President Donald Trump an opportunity to pull the US out of the current quagmire it finds itself in. However, if US obstinacy and delusions continue and Iran's conditions are rejected, the enemy should soon expect a different kind of response to the ongoing naval blockade,” the source stressed.
After vowing to maintain the blockade throughout the ceasefire, Washington imposed new sanctions this week targeting 35 individuals and entities linked to Iran's banking sector, in an effort to ratchet up pressure.
Treasury Secretary Scott Bessent confirmed on Friday that the Office of Foreign Assets Control (OFAC) sanctioned multiple digital wallets linked to the Iranian state, amounting to over $340 million in cryptocurrency.
That’s brutal… currency collapse always hits everyday people the hardest. Saying it’s worth “zero” is dramatic, but the real story is lost buying power.
— DR. ATHARV Kakade (@BizDoctorX) https://twitter.com/BizDoctorX/status/2049446736704471476?ref_src=twsrc%5Etfw
Around two weeks before the US-Israeli war began, Bessent https://www.aljazeera.com/economy/2026/2/13/us-says-it-caused-dollar-shortage-to-trigger-iran-protests-what-that-means that Washington engineered a dollar shortage in Iran in order to pull down the currency and trigger unrest ahead of the January riots across the country.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 17:00
https://www.zerohedge.com/geopolitical/iranian-currency-hits-all-time-low-tehran-threatens-unprecedented-response-us-maritime
Iranian Currency Hits All-Time Low As Tehran Threatens 'Unprecedented' Response To US 'Maritime Piracy'
https://thecradle.co/articles/iranian-currency-hits-all-time-low-as-tehran-threatens-unprecedented-response-to-us-maritime-piracy
Iran’s currency https://apnews.com/article/iran-us-war-ceasefire-rial-currency-157e7c6d099c7db8b4366bb341fc655d to a record low on Wednesday, dropping to 1.8 million against the dollar following the brutal US-Israeli war, coinciding with uncertainty over the fragile truce and rising energy prices worldwide.
The currency began a sharp descent two days ago after several weeks of artificial stability. During the initial weeks of the US-Israeli war on the Islamic Republic – which broke out on February 28 – the rial remained relatively steady, largely due to a total halt in imports and minimal market trading.
Hundreds of textile workers have been laid off, according to Iran’s Shargh newspaper. According to ISNA, in the last two days, the rial has plummeted by 15 percent.
The drop comes as Washington continues to enforce an aggressive https://thecradle.co/articles/trump-orders-aides-to-prep-for-extended-blockade-on-iran-report on Iranian ports, seizing multiple vessels recently and prompting Tehran to respond similarly. Iran has repeatedly warned that it will confront this blockade and use military action if necessary.
A high-ranking Iranian security source told https://www.presstv.ir/Detail/2026/04/29/767743/continued-us-maritime-banditry-piracy-to-met-practical-unprecedented-response-source on Wednesday that Tehran will soon use “practical and unprecedented military action” if Washington’s “piracy” does not come to an end.
“Iran's armed forces – operating under the Khatam al-Anbiya Headquarters as the war command – believe that patience has limits and that a punishing response is necessary if Washington maintains its illegal naval blockade around the Strait of Hormuz,” the source added.
🚨JUST IN: 🇮🇷IRAN’S RIAL JUST HIT ITS LOWEST LEVEL EVER
Iran's currency has collapsed so hard that 1 rial is now effectively worth ZERO U.S. dollars.
$1 now costs 1.8 MILLION Iranian rials. https://t.co/98Az7th8Dt
— Coin Bureau (@coinbureau) https://twitter.com/coinbureau/status/2049443719162589346?ref_src=twsrc%5Etfw
“The restraint shown by armed forces so far has been intended to give diplomacy a chance and allow the US to … accept Iran's conditions for ending the war permanently … This pause was meant to provide [US] President Donald Trump an opportunity to pull the US out of the current quagmire it finds itself in. However, if US obstinacy and delusions continue and Iran's conditions are rejected, the enemy should soon expect a different kind of response to the ongoing naval blockade,” the source stressed.
After vowing to maintain the blockade throughout the ceasefire, Washington imposed new sanctions this week targeting 35 individuals and entities linked to Iran's banking sector, in an effort to ratchet up pressure.
Treasury Secretary Scott Bessent confirmed on Friday that the Office of Foreign Assets Control (OFAC) sanctioned multiple digital wallets linked to the Iranian state, amounting to over $340 million in cryptocurrency.
That’s brutal… currency collapse always hits everyday people the hardest. Saying it’s worth “zero” is dramatic, but the real story is lost buying power.
— DR. ATHARV Kakade (@BizDoctorX) https://twitter.com/BizDoctorX/status/2049446736704471476?ref_src=twsrc%5Etfw
Around two weeks before the US-Israeli war began, Bessent https://www.aljazeera.com/economy/2026/2/13/us-says-it-caused-dollar-shortage-to-trigger-iran-protests-what-that-means that Washington engineered a dollar shortage in Iran in order to pull down the currency and trigger unrest ahead of the January riots across the country.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 17:00
https://www.zerohedge.com/geopolitical/iranian-currency-hits-all-time-low-tehran-threatens-unprecedented-response-us-maritime
Is This A Sign That The Schumer Era Is Coming To An End?
Is This A Sign That The Schumer Era Is Coming To An End?
Senate Minority Leader Chuck Schumer spent months cultivating what appeared to be a solid roster of Democratic recruits for 2026. He cleared the field in Ohio, North Carolina, and Alaska — all states where flipping the seats would be a major victory for the Democrats and potentially hand them a majority in the upper chamber in a year with an otherwise brutal map for their party.
But in the races that may ultimately define Democratic fortunes this November, Schumer's preferred candidates are losing — badly — and the people doing the damage are members of his own party.
That inconvenient reality is crystallizing across three of the most competitive Senate battlegrounds in the country, prompting an uncomfortable question for the longtime Democrat leader: Is Schumer's grip on the Democratic caucus slipping?
The most https://punchbowl.news/archive/42726-am/card/10/#group-10 comes from Maine, where Schumer made no secret of his support for Gov. Janet Mills — a two-term incumbent whose statewide track record, he argued, made her the most electable Democrat in a race against incumbent Republican Sen. Susan Collins.
Despite all the advantages, Mills’ campaign lacks momentum. Progressive challenger Graham Platner, a 41-year-old Marine veteran and harbormaster, has built a staggering lead in the polls despite multiple scandals plaguing his candidacy, including revelations of old internet postings by Platner that were racist, demeaned victims of sexual assault, and minimized rape. Platner has also survived revelations that he has a Nazi tattoo on his chest, which he has since covered up. These are revelations that would have ended most campaigns before they started, and all signs indicate that the Collins campaign sees Platner as the candidate they want to face in November.
Michigan isn't any better for Schumer. Though he hasn't publicly endorsed Rep. Haley Stevens, his allies believe she's the strongest candidate to take on former GOP Rep. Mike Rogers in the fall. The theory rests partly on her manufacturing-focused message and partly on the expectation that she'll run well with black voters. The problem: she's stuck in a statistical three-way tie with state Sen. Mallory McMorrow and former health official Abdul El-Sayed, and the progressive wing of the party has made its objections to her candidacy unmistakably clear.
In Iowa, Schumer's allies are backing state Rep. Josh Turek against state Sen. Zach Wahls, who has Sen. Elizabeth Warren's endorsement, a larger national fundraising footprint, and a message that leans explicitly on his criticism of Schumer's leadership.
What ties these contests together is the emergence of the Senate's progressive flank as an active counterforce. Warren, Sen. Bernie Sanders, and others aren't merely offering endorsements — they're campaigning in these states against candidates their own caucus leader recruited. That kind of internal insurgency would rattle any leader, and it carries additional weight in a cycle where Schumer's hold on the minority leader's gavel faces quiet but serious scrutiny.
The math of primaries, though, is only part of Schumer’s problems.
He was once a formidable fundraiser, but now, Democratic donors are increasingly routing money directly to candidates, bypassing the party committees that leadership controls.
“Schumer is not anybody's favorite. It's been a great run, but it's run its course,” one major donorhttps://www.yahoo.com/news/articles/democratic-donors-turn-schumer-amid-180622982.html Puck News.
Frustrated donors haven't fully closed their wallets — one Democratic fundraising operative acknowledged the checks still get written, accompanied by complaints. "People are really pissed at Schumer," the operative said.
Democratic voters in the swing states Schumer needs to win are rejecting his hand-picked recruits, turning these primaries into a clear referendum on who actually leads Senate Democrats—and the answer is increasingly looking like it isn’t Chuck Schumer.
https://cms.zerohedge.com/users/notypist
Wed, 04/29/2026 - 16:40
https://www.zerohedge.com/political/sign-schumer-era-coming-end
Is This A Sign That The Schumer Era Is Coming To An End?
Senate Minority Leader Chuck Schumer spent months cultivating what appeared to be a solid roster of Democratic recruits for 2026. He cleared the field in Ohio, North Carolina, and Alaska — all states where flipping the seats would be a major victory for the Democrats and potentially hand them a majority in the upper chamber in a year with an otherwise brutal map for their party.
But in the races that may ultimately define Democratic fortunes this November, Schumer's preferred candidates are losing — badly — and the people doing the damage are members of his own party.
That inconvenient reality is crystallizing across three of the most competitive Senate battlegrounds in the country, prompting an uncomfortable question for the longtime Democrat leader: Is Schumer's grip on the Democratic caucus slipping?
The most https://punchbowl.news/archive/42726-am/card/10/#group-10 comes from Maine, where Schumer made no secret of his support for Gov. Janet Mills — a two-term incumbent whose statewide track record, he argued, made her the most electable Democrat in a race against incumbent Republican Sen. Susan Collins.
Despite all the advantages, Mills’ campaign lacks momentum. Progressive challenger Graham Platner, a 41-year-old Marine veteran and harbormaster, has built a staggering lead in the polls despite multiple scandals plaguing his candidacy, including revelations of old internet postings by Platner that were racist, demeaned victims of sexual assault, and minimized rape. Platner has also survived revelations that he has a Nazi tattoo on his chest, which he has since covered up. These are revelations that would have ended most campaigns before they started, and all signs indicate that the Collins campaign sees Platner as the candidate they want to face in November.
Michigan isn't any better for Schumer. Though he hasn't publicly endorsed Rep. Haley Stevens, his allies believe she's the strongest candidate to take on former GOP Rep. Mike Rogers in the fall. The theory rests partly on her manufacturing-focused message and partly on the expectation that she'll run well with black voters. The problem: she's stuck in a statistical three-way tie with state Sen. Mallory McMorrow and former health official Abdul El-Sayed, and the progressive wing of the party has made its objections to her candidacy unmistakably clear.
In Iowa, Schumer's allies are backing state Rep. Josh Turek against state Sen. Zach Wahls, who has Sen. Elizabeth Warren's endorsement, a larger national fundraising footprint, and a message that leans explicitly on his criticism of Schumer's leadership.
What ties these contests together is the emergence of the Senate's progressive flank as an active counterforce. Warren, Sen. Bernie Sanders, and others aren't merely offering endorsements — they're campaigning in these states against candidates their own caucus leader recruited. That kind of internal insurgency would rattle any leader, and it carries additional weight in a cycle where Schumer's hold on the minority leader's gavel faces quiet but serious scrutiny.
The math of primaries, though, is only part of Schumer’s problems.
He was once a formidable fundraiser, but now, Democratic donors are increasingly routing money directly to candidates, bypassing the party committees that leadership controls.
“Schumer is not anybody's favorite. It's been a great run, but it's run its course,” one major donorhttps://www.yahoo.com/news/articles/democratic-donors-turn-schumer-amid-180622982.html Puck News.
Frustrated donors haven't fully closed their wallets — one Democratic fundraising operative acknowledged the checks still get written, accompanied by complaints. "People are really pissed at Schumer," the operative said.
Democratic voters in the swing states Schumer needs to win are rejecting his hand-picked recruits, turning these primaries into a clear referendum on who actually leads Senate Democrats—and the answer is increasingly looking like it isn’t Chuck Schumer.
https://cms.zerohedge.com/users/notypist
Wed, 04/29/2026 - 16:40
https://www.zerohedge.com/political/sign-schumer-era-coming-end
"6–12 Months For Construction Permits" - The Nuclear Regulation Overhaul
"6–12 Months For Construction Permits" - The Nuclear Regulation Overhaul
As we have been detailing for https://www.zerohedge.com/markets/nuclear-stocks-soar-after-report-trump-streamline-reactor-approvals-early-friday, the Trump administration is pushing the deployment of nuclear energy in ways never before seen in modern times. Among the dozens of major regulatory https://www.zerohedge.com/markets/doe-and-nrc-sign-addendum-fast-track-commercial-reactor-licensing, https://www.zerohedge.com/energy/centrus-energy-soars-after-doe-awards-27-billion-uranium-enrichment programs, and high-speed development https://www.zerohedge.com/energy/army-announces-next-steps-janus-program-next-generation-nuclear-energy, the administration seems to be clearing a new roadblock every week, yet in reality it is greatly lagging global rollout of NPPs, and especially China which is currently building at least 39 nuclear reactors.
Four months later, China has added 9 more reactors and is now building a total of 39 nuclear power plants. Meanwhile the US has added 0 and is still building 0 https://t.co/TJ6BoMghNk https://t.co/O4idOANNUr
— zerohedge (@zerohedge) https://twitter.com/zerohedge/status/2044223259659346356?ref_src=twsrc%5Etfw
Forbes https://www.forbes.com/sites/noelfletcher/2026/04/26/how-the-trump-administration-is-fast-tracking-nuclear-microreactors/ detailed one of the most significant regulatory changes to date with the publishing of a new reactor licensing path, referred to as https://www.nrc.gov/sites/default/files/cdn/doc-collection-news/2026/26-047.pdf, by the Nuclear Regulatory Commission (NRC).
Microreactor developer Nano Nuclear released a statement highlighting the benefits of the new licensing option and how their reactor designs stand to benefit...
https://twitter.com/search?q=%24NNE&src=ctag&ref_src=twsrc%5Etfw "NANO Nuclear Sees KRONOS MMR™ Well-Aligned with NRC’s Evolving Advanced Reactor Frameworks Under Part 53 and Proposed Part 57" The NRC’s Part 53 final rule, which becomes effective on April 29, 2026. https://twitter.com/hashtag/NuclearEnergy?src=hash&ref_src=twsrc%5Etfw https://twitter.com/hashtag/Microreactor?src=hash&ref_src=twsrc%5Etfw https://twitter.com/hashtag/USA?src=hash&ref_src=twsrc%5Etfw ⚛️🇺🇸https://t.co/izWmh7oFZz
— NANO Nuclear Energy (NASDAQ: NNE) (@nano_nuclear) https://twitter.com/nano_nuclear/status/2049207925172785307?ref_src=twsrc%5Etfw
Until now, reactor developers have had to choose between two licensing paths, either Part 50 or Part 52.
Part 50 is the legacy path tailored to large, water-cooled reactors like the Westinghouse AP1000 models that were built at the Vogtle site in Georgia.
Part 52 was later introduced to streamline the steps of Part 50 to avoid regulatory delays, especially lawfare from NIMBY activists. Part 52, though, is still tailored to large, water-cooled reactors.
Just this year, Part 53 was finally https://www.nrc.gov/sites/default/files/cdn/doc-collection-news/2026/26-035.pdf. Part 53 allows advanced reactor developers to skip over the requirements of Parts 50 and 52 that are not required or not applicable, and streamline the path to operations even further.
This brings us to the latest regulation released in draft form just last week, Part 57.
Part 57 is explicitly tailored towards microreactors and is formatted to allow for approval of fleets of these smaller modules as opposed to individual licensing of one reactor at a time.
The new licensing path also includes authorizations for unique modes of operation, simplified environmental reviews, and the possibility of early construction to further speed up reactor deployment.
One of the most notable takeaways from the newest licensing path from the NRC is the regulator's estimation of savings coming in at almost $4 billion dollars on the low end from reduction in exemption requests and streamlining reviews. The regulator also claims permits could be issued on timelines as short as 6-12 months, compared to previous timelines which stretched to several years.
Forbes also touched on the Idaho National Laboratory (INL) Demonstration of Microreactor Experiments (DOME) facility. We have https://www.zerohedge.com/energy/microreactor-race developments at the INL DOME multiple times, with the anticipation that Radiant Nuclear will be taking their Kaleidos pilot design critical by July 4th of this year.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 12:30
https://www.zerohedge.com/energy/6-12-months-construction-permits-nuclear-regulation-overhaul
"6–12 Months For Construction Permits" - The Nuclear Regulation Overhaul
As we have been detailing for https://www.zerohedge.com/markets/nuclear-stocks-soar-after-report-trump-streamline-reactor-approvals-early-friday, the Trump administration is pushing the deployment of nuclear energy in ways never before seen in modern times. Among the dozens of major regulatory https://www.zerohedge.com/markets/doe-and-nrc-sign-addendum-fast-track-commercial-reactor-licensing, https://www.zerohedge.com/energy/centrus-energy-soars-after-doe-awards-27-billion-uranium-enrichment programs, and high-speed development https://www.zerohedge.com/energy/army-announces-next-steps-janus-program-next-generation-nuclear-energy, the administration seems to be clearing a new roadblock every week, yet in reality it is greatly lagging global rollout of NPPs, and especially China which is currently building at least 39 nuclear reactors.
Four months later, China has added 9 more reactors and is now building a total of 39 nuclear power plants. Meanwhile the US has added 0 and is still building 0 https://t.co/TJ6BoMghNk https://t.co/O4idOANNUr
— zerohedge (@zerohedge) https://twitter.com/zerohedge/status/2044223259659346356?ref_src=twsrc%5Etfw
Forbes https://www.forbes.com/sites/noelfletcher/2026/04/26/how-the-trump-administration-is-fast-tracking-nuclear-microreactors/ detailed one of the most significant regulatory changes to date with the publishing of a new reactor licensing path, referred to as https://www.nrc.gov/sites/default/files/cdn/doc-collection-news/2026/26-047.pdf, by the Nuclear Regulatory Commission (NRC).
Microreactor developer Nano Nuclear released a statement highlighting the benefits of the new licensing option and how their reactor designs stand to benefit...
https://twitter.com/search?q=%24NNE&src=ctag&ref_src=twsrc%5Etfw "NANO Nuclear Sees KRONOS MMR™ Well-Aligned with NRC’s Evolving Advanced Reactor Frameworks Under Part 53 and Proposed Part 57" The NRC’s Part 53 final rule, which becomes effective on April 29, 2026. https://twitter.com/hashtag/NuclearEnergy?src=hash&ref_src=twsrc%5Etfw https://twitter.com/hashtag/Microreactor?src=hash&ref_src=twsrc%5Etfw https://twitter.com/hashtag/USA?src=hash&ref_src=twsrc%5Etfw ⚛️🇺🇸https://t.co/izWmh7oFZz
— NANO Nuclear Energy (NASDAQ: NNE) (@nano_nuclear) https://twitter.com/nano_nuclear/status/2049207925172785307?ref_src=twsrc%5Etfw
Until now, reactor developers have had to choose between two licensing paths, either Part 50 or Part 52.
Part 50 is the legacy path tailored to large, water-cooled reactors like the Westinghouse AP1000 models that were built at the Vogtle site in Georgia.
Part 52 was later introduced to streamline the steps of Part 50 to avoid regulatory delays, especially lawfare from NIMBY activists. Part 52, though, is still tailored to large, water-cooled reactors.
Just this year, Part 53 was finally https://www.nrc.gov/sites/default/files/cdn/doc-collection-news/2026/26-035.pdf. Part 53 allows advanced reactor developers to skip over the requirements of Parts 50 and 52 that are not required or not applicable, and streamline the path to operations even further.
This brings us to the latest regulation released in draft form just last week, Part 57.
Part 57 is explicitly tailored towards microreactors and is formatted to allow for approval of fleets of these smaller modules as opposed to individual licensing of one reactor at a time.
The new licensing path also includes authorizations for unique modes of operation, simplified environmental reviews, and the possibility of early construction to further speed up reactor deployment.
One of the most notable takeaways from the newest licensing path from the NRC is the regulator's estimation of savings coming in at almost $4 billion dollars on the low end from reduction in exemption requests and streamlining reviews. The regulator also claims permits could be issued on timelines as short as 6-12 months, compared to previous timelines which stretched to several years.
Forbes also touched on the Idaho National Laboratory (INL) Demonstration of Microreactor Experiments (DOME) facility. We have https://www.zerohedge.com/energy/microreactor-race developments at the INL DOME multiple times, with the anticipation that Radiant Nuclear will be taking their Kaleidos pilot design critical by July 4th of this year.
https://cms.zerohedge.com/users/tyler-durden
Wed, 04/29/2026 - 12:30
https://www.zerohedge.com/energy/6-12-months-construction-permits-nuclear-regulation-overhaul
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