Powering tomorrow: Forged Energy Solutions plans to redevelop existing offshore infrastructure to support Louisiana’s growing digital economy, including future data center and digital infrastructure needs. The company aims to repurpose energy assets and leverage the state’s offshore expertise to meet rising energy demand while strengthening industrial development. The initiative is still in its early stages, with Forged continuing to provide engineering, project management and offshore support services as it advances the strategy. 10/12 Industry Report has the full story.
Mortgage pressure: U.S. mortgage rates rose to 6.49% for the average 30-year fixed loan, reversing the previous week’s decline and increasing borrowing costs for homebuyers. The increase was driven by higher bond yields, inflation concerns and economic uncertainty, which continue to keep mortgage rates elevated. The higher rates are adding pressure to the housing market by reducing affordability and causing some buyers to remain cautious. Bloomberg has the full story.
Next AI Spark: Meta has released Muse Spark 1.1, an updated AI model now available in public preview for developers through its API, targeting coding, debugging, multimodal understanding and complex agentic tasks. The model is part of Meta’s effort to compete with leading AI companies like OpenAI and Anthropic, with features including text, image and video processing plus improved ability to complete multi-step tasks. Developers in the U.S. can test it with free API credits before moving to usage-based pricing, while Meta plans to expand Muse Spark’s role across its AI products, including apps and smart glasses. Reuters has the full story.
Delivery by drone?
