AI is transforming industries, but the data centers powering it require more energy and water than ever.

At the break, join Christoph Beck, chairman and CEO of EcoLab, for insights on using water effectively

while safeguarding this critical resource for future generations.

Here's your morning TNB Tech Minute for Thursday, January 29th.

I'm Julie Chang for the Wall Street Journal.

Norway's more than $2 trillion oil wealth fund, one of the world's largest investors,

paired its exposure to some U.S. tech stocks last year. New figures from the fund show it has trimmed

its Nvidia stake to 1.26% by year end from 1.32% in June. It also paired holdings

of Alphabet, Apple, and Microsoft. But the fund raised its stakes in some tech companies like Amazon

and Dutch chip machine company, ASML. The surge in U.S. tech stocks has benefited the fund,

but its CEO expressed uncertainty today

about whether it's a bubble. Tesla plans to convert the factory it uses to produce its

Model S and X vehicles into a facility for its optimist robots. That's according to CEO Elon Musk

during a call with analysts. He said the company is winding down production of those

vehicle models at its Fremont factory next quarter, and that it's part of its shift toward

eventually making only autonomous vehicles. Musk said Tesla is targeting production of a million

units of Optimus a year at the factory over the long term. And Dow is cutting 4,500 employees as part of a cost-saving

program that will lean on AI. The Chemicals Company said it's embarking on a program dubbed

Transform to Outperform, which would employ AI and automation to reduce expenditure and capitalize

growth and productivity. It said the program will

yield an additional $2 billion in operating earnings before interest, depreciation, and amortization.

These cuts come as Dow's quarterly loss widened due to increased costs and lower revenue,

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