1) The Interior Department moved one step closer to allowing the construction of the country’s first commercial scale offshore wind project with the release of a Final Environmental Impact Statement. This is the last step before issuing a decision on whether it will approve or deny the request to build the 800-megawatt project, the amount of energy used by more than 400,000 homes, and is 12 miles from Martha’s Vineyard. But the environmental assessment notes the project is expected to negatively impact commercial fishing, a $630 million industry in Massachusetts. If approved the Vineyard Wind 1 project is expected to be completed in 2023.
2) Japan’s new supercomputer Fugaku is the fastest supercomputer in the world and now is finally in fully operational status. Now, after undergoing nearly a year of testing on projects aimed at combating the COVID-19 pandemic by using analytics, modeling and policy making to prevent similar disasters, the computer is operational. Fugaku has been at the top of the list of fastest supercomputers since mid-2020, and it continues to hold that spot in the most recent Top 500 list. With three times the computing power of the runner-up IBM Summit, Fugaku is likely to remain the supercomputer to beat until Finland’s LUMI is completed. Fugaku is powered by ARM A64FX chips, of which it has 7,630,848 cores. When tested against the HPL supercomputing benchmark, it set a world record of 442 petaflops. And against the ‘high-performance computing artificial intelligence’ workload (HPC-AI) benchmark it maxed out at 2.0 exaflops, beating the previous record (also held by Fugaku) of 1.4 exaflops set in June 2020. According to Top 500, Fugaku’s HPC-AI benchmark was the first benchmark measurements above one exaflop for any precision on any type of hardware. In terms of the type of research Fugaku will be working on, some projects have already returned results such as simulating tsunami waves to forecast flooding in Japan. Seventy-four additional projects have been selected for implementation starting in April 2021.
3) Worries continue to grow that interest rates and inflation will rise as a result of greater government borrowing- a.k.a. the just passed $1.9 trillion stimulus package. Washington doesn’t want to talk about how to pay for it, and now they’re wanting to do an infrastructure bill. The negative effects on the economy will include higher mortgage rates and car payments. There are growing fears that coming next is a massive tax increase.
4) Stock market closings for – 10 MAR 21:
Dow 32,297.02 up by 464.28
Nasdaq 13,068.83 down by 4.99
S&P 500 3,898.81 up by 23.37
10 Year Yield: down at 1.52%
Oil: up at $64.69