Tech
Why Costco And Millennials Are Suddenly All About Gold
Millennials get a bad rap for killing a whole bunch of industries — cable television, landline phones, department stores.
But there is one super old industry that’s seeing a big bounce from the millennial generation. in, fact, it’s so old that it goes back to ancient egypt.
Gold.
Millennials actually hold the largest allocation to gold in their portfolios when compared to other generations.
Investors in that demographic hold an average of 17 percent of their portfolios in gold, compared to about 10 percent for baby boomers, according to state street data from 2023.
And so far, in 2024, gold has been a solid bet. Prices have soared to record highs.
So what’s behind the sudden interest in gold? and why is Costco of all places having trouble keep these small gold bars on store shelves?
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How Costco And Record-High Prices Turned Gold Into A Hot Investment
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U.S. voters passed 40 ballot measures putting limits on AI data centers this week, as huge 1GW AI data centers from OpenAI, Meta, SpaceXAI, Amazon, Google and more push up water and power bills and put a strain on local resources. One of the issues that continues to come up is water usage, which is needed to cool the GPUs inside data centers running AI workloads. Closed-loop liquid cooling keeps water use low inside many modern AI data centers, but external cooling is still needed to move heat outside of the buildings and that requires large amounts of power or water in hot climates. CNBC visited data centers and spoke to researchers to find out the truth about how data centers use water.
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