Economy

Solar plant in China. App  

The global challenges  

3,900 billion was invested in green energy – a new record  

The global investments in renewable energy amounted to 358 billion dollars, corresponding to 3,900 billion kroner, during the first six months of the year. It is a new record and an increase of 22 percent compared to the corresponding period last year, writes Bloomberg.  

The investments took place above all in China, followed by the USA and Germany. Most of the money, $239 billion, was invested in large- and small-scale solar power. That is an increase of 43 percent on an annual basis.  

Wind power, on the other hand, saw an 8 percent drop in new investment, which is explained by faltering political support and difficulties in obtaining permits.  

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The development of AI  

$1 billion in annual revenue for Open AI 

Open AI is approaching an annual turnover of 1 billion dollars as the sale of Chat GPT to businesses has gained momentum, writes Bloomberg.  

The company is sniffing to reach 80 million dollars in monthly turnover, according to information to the news agency. 

In August, a business version of the chatbot was launched. Bloomberg describes it as the AI company's biggest effort yet to attract a broader customer base.  

The cost of developing the new version, GPT 4, should have landed at $540 million by 2022. 

Patrick Semansky / AP  

Amazon threatened with lawsuit - sells pharmaceuticals 

Amazon is threatened with a lawsuit after selling unapproved drugs on its website. Legal concessions would be a setback for the e-commerce giant's quest to get deeper and deeper into the US healthcare industry, writes the FT.  

The United States Drug Regulatory Authority notes that drugs sold to treat the skin condition molluscum contagiosum have not been approved. Consumers themselves should not diagnose themselves with the condition nor treat it.  

The entity has sent several warnings to Amazon, which is receiving particular criticism for marketing the drug for use on children.  

Zuckerberg. Trent Nelson/AP  

Meta's future  

Meta back in the heat - has rushed 140 percent 

Meta has made a complete turnaround and now seems to be finally spending the company's time and money on things that investors like, writes Bloomberg.  

CEO Mark Zuckerberg's money-guzzling ventures into the metaverse and virtual reality led to the stock being slaughtered last year, but since the turn of the year it has rebounded close to 140 percent. 

During the year, the company has invested in its Tiktok challenger Reels and its Twitter counterpart Threads. The shareholders have also welcomed the increased investments in artificial intelligence and the cost savings in the metaverse unit. 

- I have no problem with them spending money, as long as it's not about ridiculous things like metaverses, says Eric Clark, fund manager at Accuvest Global Advisors.  

Wells Fargo recently pivoted on Meta and now sees the company as "an accelerating growth story."