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Laos to cut electricity to crypto miners by 2026, prioritising AI and clean industry

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Laos plans to stop supplying electricity to cryptocurrency miners by the first quarter of 2026, shifting focus toward industries that contribute more directly to economic growth, such as AI data centers, metals refining, and electric vehicles, the country’s Deputy Energy Minister Chanthaboun Soukaloun told Reuters.

The landlocked Southeast Asian nation saw a crypto mining boom after a 2021 policy shift that attracted operators with cheap hydropower. However, the government now says the sector offers low economic value, creating few jobs and limited local supply chains.

“Crypto doesn’t create value compared to supplying power to industrial or commercial consumers,” Soukaloun said, noting that the government originally approved mining operations to absorb surplus electricity.

Power allocation to miners has already been reduced from 500 megawatts in 2021–2022 to around 150 MW, a 70% cut. Soukaloun added that while the government had planned to end supply earlier, abundant hydropower generation this year allowed operations to continue temporarily.

Often referred to as the “battery of Southeast Asia”, Laos exports most of its hydropower to Thailand and Vietnam and is now exploring increasing bilateral capacity to Vietnam beyond the current 8,000 MW.

Soukaloun also confirmed that talks with China are underway over a $555 million arbitration claim by a subsidiary of the Power Construction Corp of China regarding a hydropower project dispute.

Additionally, Laos expects to resume electricity exports to Singapore via the Lao-Thailand-Malaysia-Singapore (LTMS) corridor soon, pending final terms with Thailand.

Renewables stocks surge as investor inflows return and power demand outlook brightens

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After two years in decline, renewable energy stocks are staging a strong comeback, driven by renewed investor inflows and a powerful shift in global electricity demand. The sector has posted its best quarterly performance since 2020, as confidence returns amid clearer U.S. policy direction and soaring energy needs from AI data centers and electrification.

Data from Lipper shows alternative energy funds attracted nearly $800 million in September, their biggest monthly inflow since April 2022, while Morningstar reports fund outflows have dropped to their lowest in over a year. The MSCI Global Alternative Energy Index rose 17% in the third quarter, doubling the broader market’s gains.

BlackRock’s Alastair Bishop said valuations had become so depressed that even negative policy news turned into a “positive catalyst,” helping investors refocus on fundamentals. Similarly, Robeco’s Roman Boner said inflows into the firm’s clean-energy strategies have resumed.

The rally has been powered by Big Tech’s AI-fueled data center boom, accelerating electrification of transport and industry, and upgrades to grid infrastructure. U.S. power consumption, flat for a decade, is now expected to surge, with solar-plus-storage emerging as the fastest way to meet demand. “Every electron counts,” Boner said.

Private equity is also reentering the space, with Global Infrastructure Partners reportedly in talks to acquire AES Corp. Analysts say renewable stocks still trade at a 40% discount to global equities, leaving room for upside as earnings momentum builds.

Despite risks from higher interest rates and political shifts, managers believe the rally could persist as short positions unwind and clean-energy earnings recover.

Cisco unveils AI-focused chip to link massive data centers

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Cisco Systems has introduced a new networking chip, the P200, designed to connect large-scale AI data centers across vast distances. The technology, which will power a new generation of high-capacity routers, has already attracted major clients including Microsoft Azure and Alibaba Cloud, the company announced Wednesday.

The P200 aims to solve a growing challenge in artificial intelligence — connecting geographically distant data centers so they can operate as one massive computing system. “AI training jobs are now so large, they require multiple data centers working together — even a thousand miles apart,” said Martin Lund, Cisco’s executive vice president of common hardware.

The chip consolidates what previously required 92 separate components into one, allowing routers to use 65% less power. Cisco said the innovation helps AI firms manage rising energy demands as data centers spread to regions such as Texas and Louisiana, where electricity is more abundant.

The P200 will compete directly with Broadcom’s networking chips, offering faster data synchronization and more efficient buffering technology, a crucial feature for ensuring AI workloads remain stable across distributed systems.

Industry leaders including Microsoft’s Dave Maltz praised the move, saying the chip provides “faster networks with more buffering to absorb bursts of data,” critical for scaling AI operations. Cisco did not disclose investment costs or revenue expectations but said the chip represents a major leap in AI infrastructure efficiency.