On Tuesday, Shares of General Electric Company (NYSE:GE), subtract -0.21% and closed at $28.92 in the last trading session. The last trading range of the stock ranges between $28.69 and $29.03. The company’s Market capitalization is $257.20 Billion with the total Outstanding Shares of 8.96 Billion. During the 52-week trading session the minimum price at which share price traded, registered at $27.10 and reached to max level of $33.00. GE (GE) unit, GE Energy Financial Services, and Citi recently declared the closing of tax equity financing on Deepwater Wind’s Block Island Wind Farm, the first offshore wind farm in the United States.
“An innovative project takes thoughtful and hard-working partners to navigate all of the ‘first mover’ considerations. We couldn’t have asked for better institutions to partner with than Citi and GE,” said Bryan Martin, Chairman of the Board of Deepwater Wind and Managing Director of D.E. Shaw & Co., L.P.
“We’re very proud that two world-class, U.S. companies have chosen to invest in America’s first offshore wind farm,” said Deepwater Wind CEO Jeffrey Grybowski. “Their backing is a testament to the significance of this project and the strength of the American offshore wind industry.”
Deepwater Wind accomplished construction on the 30-megawatt Block Island Wind Farm in August, and commercial operations are expected to begin in November. The role of the D.E. Shaw group, principal owner of Deepwater Wind, remains unchanged with the addition of the two tax equity shareholders.
GE Renewable Energy is the project’s turbine supplier, providing the five, 6-megawatt Haliade wind turbines for the wind farm, which is located roughly three miles off the coast of Block Island, R.I.
Kevin Walsh, Managing Director and Head of U.S. Renewables at GE Energy Financial Services, said, “The Block Island Wind Farm is a landmark project in the U.S. renewables market that GE is proud to support with capital investments and advanced wind energy technology.”
NVIDIA Corporation (NASDAQ:NVDA), dropped -1.45% and closed at $66.13 in the last trading session. The last trading range of the stock ranges between $65.62 and $66.98. The company’s Market capitalization is $35.51 Billion with the total Outstanding Shares of 535.00 million. During the 52-week trading session the minimum price at which share price traded, registered at $24.75 and reached to max level of $69.70. GTC Japan — NVIDIA and FANUC Corporation recently declared a partnershipto implement artificial intelligence on the FANUC Intelligent Edge Link and Drive (FIELD) system to increase robotics productivity and bring new capabilities to automated factories worldwide.
Adding AI to the FIELD system will give robots the ability to teach themselves to do tasks faster and more efficiently. By learning together, what used to take a single robot 8 hours can now be done by eight robots in an hour.
“The age of AI is here,” said Jen-Hsun Huang, founder and CEO of NVIDIA. “GPU deep learning ignited this new wave of computing where software learns and machines reason. One of the most exciting creations will be intelligent robots that can understand their environment and interact with people. NVIDIA is delighted to partner with FANUC, the world leader of industrial robotics, to realize a future where intelligent machines accelerate the advancement of humanity.”
Building the factory of the future will have wide-ranging impact. The International Federation of Robotics predicts the deployment of industrial robots will increase to around 2.6 million units worldwide by 2019 — up from 1 million in 2015. These robots are central to the global manufacturing process used to make everything from cars to mobile phones.