Daily Update — July 2, 2026
Data Center Growth Limits; Reshaping Private Equity; and Private Developer’s Oil Proposal
Today is Thursday, July 2, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Data Center
The AI Revolution's Power Problem: Data Center Growth Meets Grid Reality
AI-driven data center power demand is projected to more than double in the US between 2026 and 2030. The primary constraint is grid connectivity rather than generation capacity, driving hyperscalers to secure carbon-free on-site power to avoid costly operational disruptions.
A recent S&P Global webinar, AI Infrastructure Growing Pains: Ensuring Energy Resilience amid Grid Constraints and Public Demands, revealed the scale of this challenge. Analysis from 451 Research by S&P Global and S&P Global Energy experts highlights the growing tension between exponential data center growth and the physical limitations of today's power infrastructure.
Private Markets
Listen: NAV Finance Demystified: How Strategic Capital is Shaping Private Equity
In this episode of the “Private Markets 360°” podcast, Dane Graham, partner at 17Capital, joined hosts Chris Sparenberg and Christina McNamara to cover the evolution of net asset value finance from a niche solution into a core private markets tool. Graham uses his nearly 25 years of experience to discuss how strategic financing has matured alongside private equity, the misconceptions investors still face, and how flexible, well-aligned capital can support long-term value creation.
Oil & Gas
Private developer to propose Canada’s first crude oil SPR on eastern coast
Private developer Triple Point Resources is proposing construction of Canada's first strategic petroleum reserves (SPRs) for crude storage in salt caverns on the nation's east coast, with a nameplate capacity of up to 100 million barrels, driven primarily by changes in global energy security and a growing need for sovereignty, CEO Julie Lemieux said.
"With the current geopolitical crisis, Canada was not caught off-guard in terms of production," Lemieux said. "But we are the only G7 nation without a SPR, and we believe the time has come for that scenario to change."
The stockpile of oil for the planned SPR can be sourced from offshore Newfoundland and Labrador, Lemieux said.
In case you missed it
- South Korea secured close to 90% of its monthly crude oil requirements in May amid the war in the Middle East, as the refining sector procured sour crude cargoes.
- Global private equity and venture capital firms are increasingly betting on large AI funding rounds, which may expose limited partners to unintended concentration risk.
- Congestion at African ports has impacted fresh demand for Indian non-basmati white rice, as price-sensitive buyers have become cautious amid higher freight costs and longer wait times.
Upcoming events
- Basel III Reforms, Counterparties Creditworthiness and SCRA Implementation | July 7 (Webinar)
- India Outlook 2026: Aligning Dividend Strategies with a Shifting Economy | July 8 (Webinar)
- Proving the AI ROI through Entity Resolution | July 14 (Webinar)