Design by Artis Briedis
Going Nuclear
The fusion energy companies have raised USD 2.6 billion over the last 12 months, bringing total investment to date across 53 companies worldwide to USD 9.8 billion (Financial Times)
Global uranium requirements for reactors are set to rise by 1/3 – to 86,000 tonnes by 2030, and to 150,000 tonnes by 2040, according to World Nuclear Association. However, output from the existing mines is expected to halve between 2030 and 2040. (Financial Times)
The artificial intelligence data centre electricity consumption is expected to double to 945 terawatt-hours by 2030, the International Energy Agency predicts. This is more than the current power consumption of Japan. (Financial Times)
In Gold We Trust
The gold deals accounted for 70% of dealmaking by value in the mining sector in 2024, according to S&P Global. With gold prices well above USD 3,500 per troy ounce already this trend may continue. (Financial Times)
Overall investment demand for gold – buying of ETFs, gold bars and gold coins – has risen 78% year on year. (Financial Times)
Oil To Stay
According to OPEC World Oil Outlook 2050 the combined share of oil and gas in the global energy mix is expected to remain above 50%. An investment of USD 18.2 trillion is estimated to be needed to ensure reliable supply. (CNBC)
Sponsors Welcome
According to MorganStanley analysis, global spending on data centres between now and 2029 will reach USD 3 trillion, of which just USD 1.4 trillion is likely to come from capital expenditure by Big Tech groups. (Financial Times)
The Money Trail
According to Deloitte forecasts, revenue from women’s professional sports will increase to USD 2.4 billion in 2025, from USD 692 million in 2022. (The Economist)
The 5 top European football (or soccer if you happen to live in the US) leagues had EUR 20.4 billion in combined revenue in the 2023-2024 season. According to Deloitte analysis, in 1996-97 season the revenue totalled just EUR 2.5 billion. More than 36 clubs now have private equity, venture capital or private debt participation. (CNBC)
Consumers Have Spoken
The so called hermit economy of covid-19 period has been replaced by loner economy – people prefer to travel solo, use private transport instead of public and are less likely to share meals. (The Economist)
According to Nestle research, 32% of coffee consumed out-of-home is iced. (CNBC)
The global nutritional supplements market which was valued at USD 485.6 billion in 2024, is forecast to reach USD 704.3 billion by 2030, growing at a compound annual rate of 6.4%. (CNBC)
The global sales of smart glasses in 2024 are estimated at 3.3 million. This number is expected to quadruple in 2026, creating a USD 7.8 billion market. (FT Lex)
The most recent fitness and wellbeing fad has created a surging protein market that in the US alone is valued at USD 114.4 billion and projected to grow at an annual rate of 1.9% until 2028. (Financial Times)
Sales to over-18s accounted for 19% of the total US toy industry sales in the year to June 30. The so called “kidults” have become an attractive market segment with most reliable customers willing to pay premium prices and shop more frequently than parents buying for under-12s. (FT Lex)
Gen Zs spent an average of USD 11,766 – more than any other generation – to travel in the summer of 2024. In 2025, 31% of Gen Zs said they planned to go into debt to pay for their summer vacations, according to a survey by Bankrate. (CNBC)
Cognac producers make around EUR 3 billion in sales a year, with 97% of cognac consumed outside France. (The Economist)
The Girl’s Best Friends
A 3-carat lab-grown diamond sells for just 7% of the price of a mined equivalent. Lab-grown stones have already captured 17% of the US retail market by volume, up from 3% in 2020. (Financial Times)
Electric Future
In Norway’s major cities about 30% of all cars are fully electric; even 40% in Oslo. Electric vehicles account for 93% of the new cars sold in 2025. (CNBC)
Analysis from BNP Paribas suggests that battery swapping services become viable only once roughly a 1/3 of electric vehicle drivers use the service. (Financial Times)
Who Will Drive?
“While no official numbers are available, the analysts estimate that the current cost of Waymo vehicles is close to USD 150,000 each. Autonomous driving space is expected to remain largely unprofitable until the vehicle costs materially decline, likely to under USD 100,000”, says Doug Anmuth from JPMorgan. (Financial Times)
Back To School
According to World Economic Forum estimates 59 of every 100 workers will need retraining by 2030. (FT Lex)
A Final Quote To Ponder
“Fintechs such as Revolut have attracted towering multiples more akin to Silicon Valley tech outfits, but the bread and butter of their business remains the rather more sedate world of retail banking.” (FT Due Diligence)
This note was first published on Medium on 11 September 2025.
Aivars Jurcans has more than 20 years of corporate finance and investment banking experience. His services are currently available through Murinus Advisers. More of Aivars’ writings can be found on his page Corporate Financier’s Notes.
