Michelle Ma

Wildfire smoke in NY. Flooding in Texas. Climate risk is turning insurance into a political fight. @leslieatlarge and I spoke with Jane Kim and Ben Allen, top contenders to regulate CA’s $15B home insurance market. Gift link: bloomberg.com/news/articles/…

Friday afternoon 🍨👇 About $50 billion in onshore wind investments and 150,000 jobs are at risk from the Trump administration's halt of approvals for new projects, according to a document prepared by @USCleanPower obtained by @business. bloomberg.com/news/articles/…

My look with @naurtorious inside what went wrong and what's next for Fermi: bloomberg.com/news/articles/…

Fermi’s stock, meanwhile, has tumbled 84% from its peak. The company’s more than 5,000-acre site in the Texas panhandle remains mostly unfinished. And some analysts see a cautionary tale of the market’s AI enthusiasm running ahead of reality.

The story of Fermi is in some ways the story of the AI moment: Co-founded by a former Texas governor and a brash entrepreneur, Fermi offered companies racing to build data centers the two things they crave most: open land and an astonishing amount of power.

Everyone seems to be talking about mahjong these days. From London to Mumbai, events are popping up everywhere. And so I took a foray into the world of mahjong and discovered why everyone's hooked on this old tile game: bloomberg.com/news/features/…

My story on one of the most closely-watched startups in clean energy and the challenges it faces as it scales up its ambitions (free gift link): bloomberg.com/news/features/…

“We’ve been incredibly lucky,” CEO @TimMLatimer told me when I visited Fervo's Cape Station project in Utah. “It’s one thing to get lucky on timing, but it’s another to make sure you don’t ruin the opportunity.”

Fervo Energy might be the one clean tech startup having a good time in Trump's America. The company's commercial geothermal pilot came online in 2023, just as ChatGPT became a household name and the AI race took off in earnest. And tax credits have remained intact.

This much is clear: As climate change has made wildfires more frequent and destructive, the issue of who pays for their costs has come to a head. My story with @a_rajbhandari on the all-out offensive to rewrite who pays for wildfires: bloomberg.com/news/features/… 5/5

The breadth of the company’s campaign underscores the massive threat wildfires have become for PacifiCorp and utilities across the American west. In fact, it's one of the thorniest issues facing Buffett’s successor Greg Abel as he begins his reign as Berkshire CEO. 4/5

From California to Texas, electric utilities are struggling to manage mounting fire risk in a warming climate. They are spending more than ever before on lawsuits and settlements, as well as on preventative measures, such as undergrounding lines. 1/5

Congratulations to @business for earning an Honorable Mention for “The Hidden Costs of AI”. By: Josh Saul, @naurtorious , @Leonardonclt , @HiMichelleMa , @dinabass , @pogkas and @andretartar

Honored to be recognized by @IRE_NICAR with my co-authors @Leonardonclt Josh Saul @HiMichelleMa @andretartar @naurtorious @pogkas (and thank you to our many patient editors including @sfiegerman)

Coming soon 👀 @CAgovernor Gavin Newsom sits down with Bloomberg’s @BradStone to talk California, Trump, and billionaires.