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HEARD AROUND VIRGINIA September 2025
Booz Allen Hamilton, the McLean-based management and technology consulting firm, announced July 21 it intends to triple its venture capital commitment to $300 million, with plans to make 20 to 25 investments over the next five years in early-stage technology companies focused on the federal government. The company’s venture arm, Booz[...]
Google announces Chesterfield data center as part of $9B investment
Google plans to invest an additional $9 billion in Virginia through the end of 2026, with much of the funding going toward the development of a new data center in Chesterfield County, Gov. Glenn Youngkin announced Wednesday. The investments will be focused on cloud and artificial intelligence infrastructure, the governor said. Goo[...]
Stocks slip on Wall Street after last week’s rally
Stocks wavered in afternoon trading on Wall Street Monday, after a big jump last week on hopes for interest rate cuts from the Federal Reserve. The S&P 500 was down 0.2%, hovering around its all-time high. The Dow Jones Industrial Average fell 301 points, or 0.7% as of 3:09 p.m. Eastern time, pulling back from the record it se[...]
Chesterfield planners approve $2.5B+ nuclear fusion plant
Commonwealth Fusion Systems’ planned $2.5 billion-plus Chesterfield County facility, which could be the world’s first grid-scale commercial nuclear fusion energy plant, is advancing through the county’s approval process. The county’s planning commission unanimously approved a conditional use permit for the 400-megawatt facility, d[...]
Microsoft’s annual cloud revenue hits $75B, profit beats expectations
Microsoft said Wednesday that annual revenue for its flagship Azure cloud computing platform has surpassed $75 billion, up 34% from a year earlier. The Azure cloud business has been a centerpiece of Microsoft's efforts to shift its focus to artificial intelligence, but until Wednesday the company hadn't disclosed how much money it[...]
For the Record: August 2025
Central Virginia In late June, Bow Tie Partners unveiled its $5 million overhaul of BTM Movieland at Boulevard Square, which opened in 2009 inside a 53,000-square-foot former locomotive factory near Richmond’s Scott’s Addition neighborhood. The new attractions from the renovation projects are open, including two new large-format au[...]
Tesla tumbles and Alphabet rises to keep Wall Street near its records
NEW YORK (AP) — Wall Street is hanging near its records on Thursday, but the calm surface of the U.S. stock market is hiding some roiling moves underneath. Alphabet is rising, and Tesla is tumbling following a jumble of profit reports from big U.S. companies. The S&P 500 was 0.2% higher in morning trading after setting an all[...]
BLS: Virginia only state with notable June jobless rate increase
Virginia was the only state last month to see a statistically significant unemployment rate increase, according to survey data released last week by the Bureau of Labor Statistics. According to the Friday BLS report, Virginia’s unemployment rate in June increased to 3.5%, a slight rise from May’s rate of 3.4%. This bump is the six[...]
Jobless claims fall to 3-month low, defying tariff fears
WASHINGTON (AP) — The number of Americans filing for unemployment benefits fell last week to the lowest level in three months, a sign that the U.S. labor market remains sturdy despite fears over the impact of widespread U.S. tariffs. The Labor Department reported Thursday that jobless claims for the week ending July 12 fell by 7,0[...]
Virginia, Google partner to launch AI training courses
With artificial intelligence worming its way into almost every job sector, employees are increasingly finding themselves needing to know how to use the emerging technology to avoid being left behind. To address this, Virginia is launching an online platform that will provide job seekers free and low-cost artificial intelligence ce[...]
X CEO Linda Yaccarino steps down after two years
X CEO Linda Yaccarino said she’s stepping down after two bumpy years running Elon Musk’s social media platform. Yaccarino posted a positive message Wednesday about her tenure at the company formerly known as Twitter and said “the best is yet to come as X enters a new chapter with” Musk’s artificial intelligence company xAI, maker[...]
Nvidia becomes first $4T public company
NEW YORK (AP) — Chipmaker Nvidia became the first public company to top $4 trillion in value on Wednesday after two-year investor frenzy. Nvidia shares rose 2.5%, or $3.97, in early trading Wednesday, topping $164 each. At the beginning of 2023, Nvidia shares were around $14 each. The poster child of the AI boom, Nvidia has gro[...]
Nvidia-backed AI startup to curb hungry data centers’ appetite for power
As data center growth continues to explode across Virginia and the nation, so do fears that the centers are gobbling up too much energy and straining already overtaxed electric grids. However, backed by Nvidia and other heavy hitters, a new AI startup with offices in Arlington County emerged from stealth Tuesday, stating that it a[...]
Google agrees to buy power from planned Chesterfield fusion plant
Google has signed an agreement to buy electricity from Commonwealth Fusion Systems’ planned Chesterfield County facility — expected to be the world’s first grid-scale commercial fusion power plant. The Massachusetts-based fusion energy company announced in December 2024 its plans to build the 400-megawatt facility, dubbed ARC, in[...]
Globalinx grows bandwidth at subsea cable station
Virginia’s “digital port” is significantly growing its capacity at Globalinx’s subsea internet cable landing station at Corporate Landing Business Park. A Virginia Beach-based carrier-neutral cable-landing station and data center operator, Globalinx finished construction on four new cable bores at its Sandbridge landing site in la[...]
EdgeCore to invest $17B in Louisa County data center campus
Denver-based data center developer EdgeCore Digital Infrastructure has purchased 697 acres in Louisa County to build a 3.9 million-square-foot data center campus capable of supporting more than 1.1 gigawatts of power, a total expected investment of $17 billion, according to a Wednesday announcement. According to EdgeCore, the camp[...]
Google buys $14M parcel for Botetourt data center
Google has purchased a 312-acre parcel for $14.06 million at Botetourt County's Botetourt Center at Greenfield industrial park for data center development, county officials announced Tuesday. Additionally, the Menlo Park, California-based Big Tech company has pledged to give $4 million over the next five years to support community[...]
Google offers buyouts to more workers amid AI-driven tech upheaval and antitrust uncertainty
MOUNTAIN VIEW, Calif. (AP) — Google has offered buyouts to another swath of its workforce across several key divisions in a fresh round of cost cutting coming ahead of a court decision that could order a breakup of its internet empire. The Mountain View, California, company confirmed the streamlining that was reported by several news[...]
U.S. jobless claims steady amid trade war uncertainty
WASHINGTON (AP) — U.S. filings for jobless benefits were unchanged last week, remaining at the higher end of recent ranges as uncertainty over the impact of trade wars lingers. New applications for jobless benefits numbered 248,000 for the week ending June 7, the Labor Department said Thursday. Analysts had forecast 244,000 new ap[...]
Apple unveils software redesign while reeling from AI missteps, tech upheaval and Trump’s trade war
CUPERTINO, Calif. (AP) — After stumbling out of the starting gate in Big Tech’s pivotal race to capitalize on artificial intelligence, Apple tried to regain its footing Monday during an annual developers conference that focused mostly on incremental advances and cosmetic changes in its technology. The presummer rite, which attract[...]
