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China has turned the Arctic into its own “Panama Canal.” And that explains the US obsession with Greenland

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It seems like it was centuries ago, but until not too long ago the Arctic was seen as an inhospitable territory, more associated with school maps and scientific expeditions than with great power disputes. However, accelerated thaw and the changes in routes navigation have turned that apparently marginal region into one of the most sensitive spaces on the geopolitical board, one where decisions made today can define the economic and military balance of the coming decades. Stop being peripheral. Yes, for decades, the Arctic was a space remote, frozen and secondary in global geopolitics, a natural border that separated blocks rather than connecting them, but accelerated thaw has transformed that white void into a strategic corridor where trade, resources and military deterrence overlap. What was once a physical boundary is now an emerging highway that shortens thousands of kilometers between Asia, Europe and North America, and that simple climate change is reordering strategic priorities of the great powers at a speed that has caught many governments off guard. China and the Polar Route. China has identified before anyone else the potential of these new routes and has integrated them into its long-term vision as a “Polar Silk Road”conceived as a functional equivalent to the Panama Canal or the Suez Canalbut under much more flexible conditions because the rules are not yet set. Chinese research vessels, experimental freighters and icebreakers they are already browsing through the High North, collecting oceanographic data, mapping seabeds and testing routes that reduce by half travel times between Asia and Europe, while establishing a presence that, as happened in the South China Sea, begins as scientific and commercial and ends up having inevitable military implications. Submarines, data and war under the ice. The most disturbing element for Washington and its allies is not only trade, but the underground: The Arctic Ocean offers ideal conditions for underwater warfare, with layers of water, variable salinity, and natural noise making sonar detection difficult. The dives of Chinese research submarines under the ice, together with the deployment of “civilian” vessels that in practice function as covert military platforms, point to a clear objective: break the historic American submarine superiority and prepare the ground so that, in the future, Chinese nuclear submarines can operate near the North American continent with greater freedom and less risk. The Sino-Russian alliance. Chinese expansion in the Arctic is amplified by its understanding with Russiawhich provides experience, technology and access to already exploited routes along its northern coast, while receiving in return key industrial and technological support to sustain its war in Ukraine. This axis turns the Arctic into a space where two nuclear powers They coordinate in their own way air, naval and potentially submarine patrols, opening the door to a scenario that was unthinkable during the Cold War: Asian forces with the capacity to rapidly project themselves towards the Atlantic without passing through easily monitored bottlenecks. Greenland as a hinge. In this context, Greenland stops being a frozen and sparsely populated island and become the hinge that controls the eastern flank of the Northwest Passage, the gateway from Europe to that future Arctic highway. Whoever has decisive influence over Greenland can monitor, condition or even block maritime and submarine traffic in one of the most sensitive routes of the 21st century, in addition to housing radars, airports and key sensors for the defense of the American continent. The emergencies. Here comes the Trump’s renewed interest to take over Greenland, which does not respond to an eccentricity or a nineteenth-century imperial impulse, but rather to the recognition of an emerging strategic vulnerability. Washington watches how Beijing advances in the Arctic the same way he did in other settings: arriving early, coming to the table when the rules do not yet exist, and securing positions which then become almost impossible to reverse, which explains the pressure on Denmark, the enlargement of icebreaking capabilities and closer integration of the High North into NATO planning. No locks. In summary, and unlike the Panama Canal, the Arctic is not a closed infrastructure nor regulated by consolidated treaties, but rather a space under construction where the early presence defines future power. For the United States to allow China to consolidate a dominant position on these routes would be to accept that its geographic and naval advantage can be eroded without a single shot, simply by letting the ice melt and others write the rules. Greenland thus appears as the last piece of a bigger puzzle: one where it is not about buying or invading an island, but about deciding who controls trafficsecurity and the balance of power in the next great axis of global trade and war. Image | RawPixel In Xataka | A document clarifies “the Greenland thing” since 1951. Hitler’s Germany made an agreement possible for the US to do whatever it wants In Xataka | The gold of the 21st century is not in Venezuela: China and Russia know it and that is why the US wants Greenland no matter what

has turned impatience into a business worth 152 million

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A cell phone store salesman who sings opera, shaking with nerves and win a talent show. David Bisbal working in a nursery before leaving in Operación Triunfo. The entertainment industry has been selling the same message for decades: talent is everywhere, you just have to discover it. But there is another, less romantic talent that often goes unnoticed: that of making money where no one else had seen it. Aena has just demonstrated it with its 2024 results. It has turned a testimonial line of business into a gold mine: VIP services. In just six years they have gone from 79 million euros (2019) to 152 million in 2024, the last with the results published. There will be millions more when they publish those for 2025. They have doubled their turnover and now represent more than 10% of the company’s commercial income, compared to the 5% they represented in 2019. He told it The Economist and it is a great perch to tell the change in the way in which Aena extracts value from its airports: it depends less and less on the gross number of passengers, and increasingly focuses on monetizing the experience of those who can and want to pay to avoid the inconveniences of mass transit. The distribution of AENA’s income Aena closed 2024 with revenues of 5,828 million euros, 13.3% more than the previous year. But not all that money comes from the same place, nor does it grow at the same rate, as we can see by reading the company’s income statement. The structure of its income is built on four pillars: 1. Aeronautical revenues → 3,148 million euros, +13.7%. Is the hard core of your business: These are the fees that airlines pay to use the facilities. Landings, takeoffs, use of terminals, passenger assistance… They are regulated income, with prices set according to a framework that limits their growth. They represent 55% of the total. They increase with traffic (309.3 million passengers in Spain in 2024, 9.2% more), but their room for maneuver is narrow. 2. Business income → 1,760 million euros, +14.7%. This is where Aena has learned to play. These are the income generated within the airports, beyond the basic air transportation service. And the growth is greater than that of traffic, which means that Aena is making more money for each passenger. Within this category, the breakdown is striking: Duty free shops (duty free): 527 million euros, the largest component. A growth of 28.2% compared to 2023. Restoration: 347.9 million (+7%). Parking: 204.1 million (+13.3%). Vehicle rental: 207.7 million (+12.5%). VIP Services: 156.2 million (+31.3%). Stores: 136 million (+1.6%). VIP services are not the ones that bill the most, but they are the ones that grow the most. And its margin is brutal: 83.3% of EBITDA in 2024, only surpassed by the commercial business as a whole. 3. Real estate services → 114.3 million euros, +8.4%. This is perhaps the segment less visible but most profitable of the entire Aena structure. With an EBITDA margin of 78.8%, only surpassed by commercial activity, real estate services demonstrate that it does not take a lot of volume to generate a lot of value. This includes the rental of space for air cargo (representing 46% of the total for this line), but also offices, hangars, land and technical premises. It is a long-term business, with stable contracts and recurring clients.. The investor’s dream. Airlines need operational bases, logistics operators require warehouses near the runways, and auxiliary companies request spaces for maintenance. Air cargo in particular has become a strategic asset. With electronic commerce that continues to grow throughout the world, Airports are not only passenger transit, but also logistics centers. Aena knows this and charges accordingly. Cargo revenues reached 52.7 million euros in 2024, consolidating itself as the main component of this segment. It is a less elastic business than commercial business because it does not grow at the same rate as passenger traffic, but it provides predictable income, high margins and little volatility. A corner of almost assured stability. 4. International activity → 727.3 million euros, +17.9%. Aena has been trying for years to replicate the model that is working so well outside of Spain. And the numbers are starting to add up. International activity grew by 17.9% in 2024, the largest increase of all segments, although its profitability is still significantly lower than that of the rest of the group, a 44.9% EBITDA margin vs the 60.2% average. The heavyweight is Brazil. The consolidation of Eleven Airport Block (BOAB)which Aena began operating in 2023, contributed 196.3 million euros in revenue and 102.9 million to EBITDA. There are eleven airports distributed throughout the country, with 27.4 million passengers in 2024. 52.4% EBITDA margin, still far from Spanish standards but on the rise. The other Brazilian asset is the Grupo Aeroportuario del Nordeste (ANB), with six airports that moved 15.9 million passengers. Then there is Luton, London airport in which Aena has a stake. It moved 16.7 million passengers and generated £345.5 million in revenue. EBITDA was £155.3 million with a margin of 44.9%. Excluding the concession fee and extraordinary adjustments, the real margin would be 56.8%. Historical record of income and EBITDA. The international commitment has strategic logic: Spain has a natural growth limit, and diversifying geographically reduces risks. But it also has its complexities. Concessions abroad operate under different regulatory frameworks, with tighter margins and political and exchange risks. Aena is learning that exporting the model is not automatic, but it is fair to admit that the 2024 numbers indicate that it is on the right track. The VIP business What makes the case of VIP services especially interesting is that its expansion does not seem to have peaked. In 2024, Aena inaugurated new lounges in several airports and expanded the existing ones in Ibiza, Tenerife South, Seville, Asturias and Palma de Mallorca. Fast Track revenues (priority access to security control) grew by 36%, and Fast Lane revenues (preferential boarding areas) … Read more

Imoo turned the children’s smartwatch into its own genre. Now all the parents who bought it are stuck

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According to CounterPoint Research estimate for the global smartwatch market in 2025… Apple grew 12%. Samsung fell 6%. Imoo grew by 17%. Action replay: A Chinese brand that exclusively sells children’s watches is growing more than Appleand definitely more than Samsung, which is going down. Imoo, what The year has already started growing in quotaalready has 7% of the global smartwatch market. And it doesn’t really compete against the Apple Watch Ultra or the current Galaxy Watch: compete against the anguish of not knowing where your child is when he leaves school. Or rather: against the fear of not knowing if one day something happens. Counterpoint Research projects that the global smartwatch market will grow 7% in 2025 after first falling in 2024. That rebound is partly explained by Apple launching the cheap SE 3 and recovering after seven consecutive quarters of declines. But there is another factor: China went from 25% global share in 2024 to 31% in 2025. And within that jump, Imoo has a specific role that perhaps we are not looking at closely enough. Huawei is reinforcing its focus on health and sports, Apple maintains its inertia, Xiaomi focuses on the watch as part of a domestic ecosystem… and Imoo has turned parental fear into a product category. Their watches have GPS, calls, SOS button or alerts when the child leaves an area geofenced by his parents. As a watch it is not very smart and perhaps fits better in the category of surveillance and emergency aid device. Imoo hasn’t invented parental fear, but it has built a great machine to monetize it. Besides, It is a device that creates functional dependency: Once a parent puts it on their child’s wrist, they get used to the peace of mind it provides. So it is difficult not to renew it when the child stamps it or when it becomes obsolete. This success of Imoo goes beyond technology: when you grow 17% a year selling this type of watches, you do not measure adoption, but rather the number of parents who have decided that the anxiety that would cause them not knowing where their child is (understandable, of course) is worse than the inconvenience of constantly tracking them. Once you cross that threshold, there is no turning back. Previous generations had opaque spacesmoments of disappearance for a few hours before returning to dinner. These spaces are closed with this type of products, colorful and gamified, with a branding questionable but an unquestionable commercial success. Parents do not feel that they “control”, but rather that they protect. And kids don’t feel tracked, at least until they get acne and the bomb goes off, until then they just feel like they have a cool watch. And there is an advantage for parents: if suddenly almost all of your child’s classmates have one, the fact that your child does not have one becomes an anomaly. Imoo’s 7% share (and counting) measures how many children are growing up knowing that their parents can track them at any time. It measures a generation that normalizes permanent connectivity as a default state from the age of six. Counterpoint speaks of the smart watch market with “China-driven growth” and “different strategies to sustain the engagement of the consumer”, but it does not mention that One of those strategies is to redefine a part of childhood. The next son will also wear the watch. And the next one too. Imoo doesn’t need to grow faster than Apple to win. It just requires that each generation of parents find it more unthinkable than the previous one to leave a child unaccounted for. In Xataka | After almost a decade with the Apple Watch, I have switched to a Garmin. And I understood what I was missing Featured image | Xataka

South Korea just turned on AX K1. “An AI for everyone” that puts the country in the race between China and the US

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The race for artificial intelligence It is the new diamond of the economy of many countries. one to whom they are throwing money as if the world were going to end and that it is having serious implications on issues that affect citizens such as energyhe employment and with one last controversy: the exorbitant price of RAM. The great powers they want to be sovereign in this field, and South Korea has just light his first hyperscale artificial intelligence model. His name could be some son of Elon Musk: AX K1. In short. Developed by the giant SK Telecom, AX K1 is a model that has 519 billion total parameters, although during inference, which is the practical use case, it “only” activates about 33 billion. It’s still accurate (as accurate as an AI can be) but consumes far fewer resources. That 519B – A33B mode is based on the ‘architecture’mixture of experts‘ that selects in real time and dynamically the optimal parameter subsets for each task. These parameters are like the neural connections that allow the model to “learn” during training, and the fact that South Korea already has a hyperscale model is a huge leap in the country’s position within the global picture of AI. Master Model. The design of this model allows stable performance in tasks such as advanced reasoning, mathematics and multilingual comprehension, but there is also an interesting concept: it works as a “Master Model”. These models are the ones that transfer knowledge to smaller models. While the master knows everything, the lighter model is specialized in a specific task. And, although the large model consumes an enormous amount of resources, the “student” that inherits complex capabilities without having to manage so many parameters can run on devices and environments with more limited resources. For example, the AX K1 with those 512B can “transfer its knowledge” to those below the 70B scale, much more specialized and cheaper. “As Korea’s leading AI company, we will continue to push forward our efforts to deliver AI for everyone” – Tae Yoon Kim “AI for everyone”. In less words: the master model allows the expansion of AI to be accelerated because the hyperscale is used for research, but the lower scale is used for more everyday products. And, precisely, that is what SK Telecom seeks: for its IOA to be the basis on which the country operates. In collaboration with different universities, associations and thanks to the memory manufacturer SK Hynix –one of the giants of the sector and part of SK Telecom-, the company hopes it will be the foundation of an “AI for all.” This implies that they will deploy it in their services and, as it is open source, its API can be the basis of other models in university, business and even national ecosystems. In fact, there is already talk of very specific solutions, such as access to AI through text messages and even phone calls, but also multilingual search services and even a boost for AI in video games. And, of course, for humanoid robotics either for education. The great advantage that the consortium that owns AX K1 has is that it is one of the largest groups in the world, with a presence in the semiconductor, telephone, transportation, construction, energy and video game industries. Therefore, you can easily scale this technology. Third in contention. SK Telecom has confirmed that it plans to continue expanding its model with agent-based execution and those 519Bs allow Korea to become “one of the top three artificial intelligence nations in the world,” in the words of Tae Yoon Kimone of those responsible for the model. The group’s intention is to help “consolidate South Korea as one of the world’s top three artificial intelligence nations,” a race that is taking place resources difficult to contextualize in both the United States and China and which is crushing markets like RAM for consumers. Image | SK Telecom In Xataka | The exorbitant deployment of data centers for AI has a new problem: salt caverns

Baba Yaga was an old woman who devoured skulls at night. So Ukraine just turned Russia’s worst nightmare into a drone

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In Slavic folklore, Baba Yaga She is an ancient figure associated with nocturnal fear, a witch who devours skulls and flies in the dark, punishing the reckless and inhabiting a territory where normal rules no longer apply. It is not a spectacular monster or the usual one, but a persistent presencedisturbing, impossible to ignore. Ukraine remembered it… and transformed it into a drone. The nightmare in war. This symbolic load explains why the name was not born in Ukrainian propaganda, but in the Russian channels themselves: when the soldiers began to describe night attacks that fell almost silently from the sky, the collective imagination did the rest. Today, “Baba Yaga” does not designate a fairy tale creature, but a family heavy bomber drones Ukrainians who have transformed the night of the front into a permanent hostile space for Russian forces. What really is a Baba Yaga. Under that name is grouped an entire class of heavy multicopters, many of them derived of agricultural platforms and others already designed for military purposes, capable of transporting from 15 kilos in their most common versions to several dozen in larger configurations. Unlike the kamikaze FPVs, the Baba Yaga They are reusable systemsconceived as aerial bombers themselves. They can launch mortar mines, fragmentation charges, adapted munitions or even converted anti-tank mines with remarkable accuracy from several hundreds of meters high. Its distinctive feature is not only the load, but the combination of thermal and optical sensors which allows them to operate at night, in fog, rain or wind, and remain effective where light drones begin to fail. This capacity has made them go from being a tactical complement to becoming a structural piece of the Ukrainian device. A Baba Yaga captured by Russian forces The night stops being a refuge. For months, trenches, concrete shelters or fortified buildings offered Russian infantry a relative sense of security from artillery and light drones. The Baba Yaga break that logic. If a point appears marked on a thermal image or reconnaissance map, no cover guarantees survival. A single drone can perform cascade attacksreleasing ammunition successively and dismantling a position section by section. The effect is cumulative: it not only destroys material, but forces units to disperseto rotate more frequently, to invest time and resources in camouflage and fortification, and to avoid concentrations of troops or vehicles. In a war of attrition, that behavioral change is as important as direct destruction. From tactical weapon to major system. Although they were born as a short-range solution, the Baba Yaga have been integrated into operations increasingly complex. They do not act in isolation, but as part of a drone ecosystem that includes FPV, long-range UAVs and, in some cases, naval platforms unmanned. In Crimea, for example, we have seen how maritime drones are used as advanced shuttles to allow heavy multicopters to reach radars and air defense systems like the Nebo-Mattacking antennas, technical installations and command posts. This logic is revealing: first the target is blinded or disorganized by other means, and then the Baba Yaga finish the job where it was previously considered too risky or inaccessible. Thus, these drones have ceased to be “flying artillery” and have become tools that connect the immediate front with the operational rear. Technical evolution. The development of these drones has not stopped. Ukrainian volunteer engineers and teams they have been improving engines, propellers, structures and suspension systems for ammunition of different calibers, while communications are reinforced with redundant channels, separate antennas and, in some cases, satellite links that expand the radius of action at the expense of payload. Russian electronic warfare has forced experimentation with system duplication control and backup plans to prevent the loss of a link from dragging down the entire set. This adaptation race explains why, even when Russia manages to shoot down some of these drones, the problem does not disappear: The threat materializes again the following night. Psychological impact. Beyond the technique, the Baba Yaga hits morale. Its low, recognizable hum does not announce an immediate explosion, but rather a tense wait– Someone, somewhere, is peering through a thermal scope and choosing the next target. Unlike artillery, there is no clearly safe haven or predictable pattern. Combined with FPV attacks and indirect fire, these drones create a sensation continuous pressure from above, from the front and from the rear. Military analysts match in which this constant stress accelerates organizational wear and tear, makes coordination difficult and forces commanders to focus on maintaining basic cohesion instead of planning offensive maneuvers. Lessons for the future of war. For Western observers and for NATO itself, the Baba Yaga are a practical demonstration of how future conflicts will be fought with swarms of relatively cheap, reusable and rapidly adapted platforms. It is not a miracle weapon, but a component within a system that combines intelligence, communications, flexible production and accelerated training. Ukraine has managed to assemble that system under extreme conditions, relying on industry, the State and voluntary networks. For Russia, the result is clear: the “witch” of folklore has returnednot as a myth, but as a technological presence that redefines the battlefield and makes it impossible to return to a war according to the standards of the 20th century. Image | Telegram, ArmіяІнформ In Xataka | Ukraine has asked Russia if they stop for Christmas like in the First World War. The answer could not have been more Russian In Xataka | Europe wanted to expropriate Russian funds on the continent to finance Ukraine. Until Belgium took the lead

Rome turned North Africa into its great oil fountain. And we have found the mega-oil mills of the Empire

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He Roman empire He founded the foundations of Western civilization both socially and in the most functional part: the infrastructure. Its roads are famousbut wherever they passed, They also founded industry. And an international group of archaeologists has found one of the most significant discoveries related to the roman industry. The second largest oil pressing complex in the entire Empire. Mega-oil mill. In the Tunisian region of Kasserine is the archaeological site identified as ‘Henchir el Begar’. Specifically, there are two settlements found to the north and west of Kasserine (the ancient Roman Cillium), and archaeologists are clear that they are part of the same industry dedicated to oil. They estimate that both were operational between the 3rd and 6th centuries AD, demonstrating that they were incredibly valuable to the Empire, and the data reflects the productive ambition of the area: The settlement has 33 hectares with two main sectors: Hr Begar 1 and Hr Begar 2. Hr Begar 1 has twelve beam presses, being the largest mill in Tunisia and the second largest in the entire Roman world. We are talking about beams and counterweights capable of exerting tons of pressure. It has cisterns and a water collection basin. HR Begar 2 has another eight presses of the same type, as well as another water collection basin and cisterns. Context. In addition to the two “oil mills”, georadar has identified a network of settling tanks for oil, warehouses, a dense fabric of housing for workers and the site’s population, and road tracks for the ‘trucks’ of the erato, trains that transported the amphoraethey will reach the coast and places of distribution. Apart from making it clear that the site was an oil megafactory, they have also found stone mills. They estimate that production was mixed: oil and also cereals, which points to the strategic importance of this region around Kasserine. Strategic good. In it releasearchaeologists highlight that the territory is characterized by high steppes and a continental climate with modest rainfall that would have been collected in wells, all of this favoring ideal conditions for the cultivation of olive trees. This border area of ​​Africa would have been a point of exchange between cultures, but a discovery of these dimensions shows that this Proconsular province of Africa would have been the great supplier of oil to the Roman Empire both for consumption (the highest quality oil) and for fuel and other consumables (oil for lighting, bases for medical ointments and cosmetics). Perspectives. That powerful Henchir el Begar oil industry is not the only thing the team has found. They have also found pieces such as a bracelet decorated in copper or brass, a stone projectile and some architectural elements that had later been reused in a Byzantine wall. The mission in Kasserine began in 2023 as a project co-led by the Ca’Foscari University of Venice, the University of La Manouba in Tunisia and the Complutense University of Madrid and, according to Professor Luigi Sperti, one of the project coordinators, it allows “an unprecedented perspective on the agrarian and socioeconomic organization of the border regions of Roman Africa.” We will see what they find in future prospecting, but the investigations of this third campaign have borne fruit in understanding the importance of the region in issues such as the production, marketing and transportation of oil on a scale not seen until now in that area. Images | UCM, Unive In Xataka | Modern tunnel boring machines are real monsters compared to those of 1950. The paradox is that they are just as slow

They found a cube-shaped skull in Tamaulipas and thought it was a migrant. Science has turned history upside down

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Modern archeology has just thrown us one of those pieces of the puzzle that forces us to rewrite, in part, what we knew about different ancient cultures of northern Mesoamerica. Something obligatory, since a team from the National Institute of Anthropology and History has identified a find in Tamaulipas that is as unusual as it is fascinating: a skull with an intentional deformation in the shape of a “cube”. “Parallelepiped” deformation. The discovery took place in the archaeological zone of Balcón de Montezuma, in the Sierra Madre Oriental. As detailed in the official INAH bulletinthe remains belong to an adult man over forty years old who lived during the Classic period between 400 and 900 AD Although the most surprising thing may seem given the curious deformation of the skull, for anthropologists the real news was in a modification of the “erect tabular” type. in its “parallelepiped” variant. How did it come to this? To have a skull with this peculiar shape, it is suggested that the ancient settlers of that area had to use wood compression devices such as slats. These would be applied to the back of the head (the occipital bone) and the forehead to restrict the natural growth of bones from childhood. Because it is precisely when they are malleable to adjust them to what you were looking for. Who was it? This is where hypotheses begin to emerge. Anthropologists point out that this type of deformation is more typical of the Mesoamerican southeast. But these bones have been found in the northern area. So the question was clear: Was this man a foreigner who came to the north? The answer, thanks to the analyzes of strontium isotopesit’s a resounding no. The conclusion that has been reached is that the bones belonged to a local man who was born and raised in the Sierra Madre Occidental area. And this is something that changes the narrative completely: we are not facing a migrant, but rather evidence of cultural adoption. Because. The fact that a local inhabitant decided (or his parents decided for him when they were very young) that the skull had to be modified with a technique that involved two splints makes sense. The hypotheses initially point to the membership in a local eliteand this modification could be a distinctive sign to indicate that they were in a higher stratum than the rest of the inhabitants. But it is also something that can suggest a cultural connection, since there was a great flow of ideas and aesthetic fashions that was much more fluid than previously thought between different cities in the area. That is why it may be that having a skull like this was an indication of beauty or it was simply ‘viral’ at that time. Its importance. Until now, archeology had recorded cranial deformations in the area, but they were generally more inclined backwards. The appearance of this more elongated upward shape is something that had not been recorded before in this area. This is something that a priori will help discard the old idea that the northern areas were culturally isolated. On the contrary, this “cubic skull” is physical proof that the northern border of Mesoamerica was fully integrated into the ritual and aesthetic dynamics of the rest of the subcontinent. Images | Chelms Varthoumlien In Xataka | If Spain believes it has a problem with droughts, it is because it does not know what led the Mayans to collapse: 150 extreme years

The United States has turned Trinidad and Tobago into the war container it was missing. Venezuela has responded like Russia: an invisible fleet

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The conflict between the United States and Venezuela has entered a phase in which the silent accumulation media outweighs official statements. If you will, the Caribbean once again functions as a strategic belt from which Washington projects pressure without the need to declare an open war. Under the formal argument of the fight against drug trafficking, the White House has been weaving a support network logistics, radars, airstrips, ports and resupply spaces in an arc at a time bigger of “allies”. The Venezuela’s response We already saw it in Russia. The map of countries. That “arc” of allies Washington runs from the Dominican Republic to Trinidad and Tobago, passing through Aruba, Curaçao, Bonaire, Grenada, Puerto Rico and the Virgin Islands. The deployment includes destroyers, nuclear submarines, amphibious ships, aircraft carriers, state-of-the-art fighters, drones and thousands of troops, not enough for a land invasion, but enough to control air and maritime space, monitor critical routes and sustain missile attacks if it is decided to escalate. It is a prepositioning strategy classic: being everywhere without publicly assuming that something else is in the works. Trinidad and Tobago, the most sensitive link. Within that architecture, Trinidad and Tobago emerges as the most delicate piece of the board. Its extreme proximity to the Venezuelan coast turns any gesture into a political and military message. The new government has authorized the use of its airports by US military aircraft, has received warships and marine units, has allowed joint exercises and has accepted the installation of an AN/TPS-80 G/ATOR radar capable of detecting aircraft, drones and missiles. Everything is presented as logistical and defensive cooperationbut it fits almost literally with the US National Security Strategy of 2025, which calls for a toughened version of the Monroe Doctrine to reaffirm the preeminence of the United States in the Western Hemisphere and prevent external actors from controlling strategic assets. Trinidad and Tobago insist in that it will not be a platform for offensive attacks except direct aggression, but its role as node of surveillance, resupply and intelligence places it at the center of any scenario of sustained pressure on Caracas. A blockage that is not. The announced threat by Trump of a “total and complete” interdiction of sanctioned oil tankers entering or leaving Venezuela fits into that model of gradual pressure. It is not about closing ports with a formal declaration of war, but about taking advantage of naval and air superiority, supported by friendly infrastructure, to intercept, seize or deter the ships that support the main source of income for the Nicolás Maduro regime. The recent seizure of an oil tanker loaded with nearly two million barrels and the warning that further action could follow shows the extent to which Washington is willing to take pressure beyond the symbolic, taking the risk of controlled incidents in international waters. The Venezuelan response. Faced with this siege, Caracas has reacted by raising the profile of its challenge. The order to escort ships that transport oil products and derivatives to Asia is a calculated move: it seeks to demonstrate that the Venezuelan State does not renounce its right to free navigation and that it is willing to involve to his Navy to keep exports open. It is also a response that increases the risk of confrontationbut that sends an internal and external message of resistance. Oil continues to be the financial pillar of the regime, and losing it would be equivalent to accepting total economic asphyxiation. The ghost fleets. Beyond the visible escort, the true backbone of the Venezuelan strategy is the ghost fleeta tactic practically copied from the used by Russia after Western sanctions. Old oil tankers, many with more than twenty or thirty years of service, change name and flagsteal the identities of already dismantled ships, sail under flags of convenience, turn off or manipulate their identification systems and carry out crude oil transfers on the high seas to hide the origin of the cargo. The result is an opaque trade that allows you to sell oil with large discounts to buyers willing to take risks, while the traceability required by sanctions is diluted. It is not a marginal phenomenon: a significant part of the world’s oil tanker fleet already operates in this gray ecosystem, transporting Venezuelan, Russian or Iranian crude. Sanctions that do not suffocate, they deform. The BBC reported that the data show that, although far from the historical levels of the end of the 20th century, Venezuelan exports have recovered notably compared to the collapse of 2019. This indicates that the sanctions have not paralyzed the flow, but rather have displaced it towards more opaque and risky circuits. As in the Russian caseeconomic punishment does not eliminate trade, it makes it more expensive, makes it less transparent and reinforces dependence on informal networks and actors willing to move illegally. The Caribbean as a conflict. With US aircraft carriers patrolling the Caribbean, radars deployed in islands near Venezuela and escorted or invisible tankers sailing to Asiathe conflict is located in a dangerous intermediate zone between economic pressure and military confrontation. The United States bets on the ccontrol of space and logistics regional via of discreet allieswhile Venezuela responds with the same manual that has allowed other sanctioned countries to survive: ghost fleets, aggressive discounts and specific shows of force. The Caribbean, for decades associated with tourism and trade, is thus once again a scene of high geopolitical tension where each radar installed and each oil tanker intercepted brings the risk of a clash that no one admits they want, but for which both sides seem to prepare, a little closer. Image: US Navy In Xataka | The situation between the US and Venezuela only needs one incident to escalate into something more: that incident is already here In Xataka | In full tension with the US, Venezuela has presented its drone simulator: it is equal to a three-euro Steam game

Wall Street has turned on the spigot of infinite money for AI. They have forgotten a small detail: the electrical network

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In that equation that the world is trying to solve with AI, there is a half that not many people have noticed: debt. Behind every AI-generated chat and video is a gigantic network of data centers, and those data centers are being financed with a mountain of borrowed money. And therein lies the problem. In what is borrowed. Debt and more debt. According to recent datathe issuance of secured debt linked to data centers in the United States is estimated to be $25.4 billion by 2025. It is 112% more than the previous year. If we add up all the complex financial instruments (known as asset-backed securities (ABS) and commercial mortgage-backed securities (CMBSS)), the snowball is already huge: there are almost $49 billion tied to these securities. Bonuses for everyone. Here there are not only startups asking for loans, no. The technology giants that are setting up these infrastructures – the so-called hyperscalers – are also taking advantage of this mechanism. Companies such as Microsoft, Google, Oracle or Meta have rediscovered the bond market as a source of financing. Better to spend what is not mine. They all have huge amounts of money, but instead of spending their own cash, They have raised 100,000 million dollars in debt issues so far this year. The goal: buy thousands of GPUs and build data centers before the competition. What are you doing, Oracle? If there is a company that embodies the vertigo of this excessive bet, it is Oracle. The company created by Larry Ellison has committed to meeting a Pharaonic $300 billion deal with OpenAI. That has forced it to become the largest issuer of corporate debt (outside the financial sector). The numbers are scary: your total debt has grown to 111.6 billion dollarswhile its cash has dropped by 10,000 million. Citi estimates they’ll need to borrow another $20 billion to $30 billion every year (every year!) for the next three years just to keep building. excessive ambition. There are also examples of startups that are exploiting this facet. One of the clearest is the one from CoreWeavea company famous for renting computing capacity for AI. The company has secured credit lines of $2.5 billion backed by leading investment banks such as JPMorgan. The market message seems clear: “if you’re going to build for AI, here’s the money.” How to get a 30-year mortgage. Analysts of all kinds have been keeping the fly behind their ears for some time, and one of the latest Moody’s reports is a good example. Concrete buildings are usually financed with terms of 20 or 30 years, but the technology inside (such as AI chips) changes radically every 3 or 4 years. Does it make sense to go into debt three decades from now for a technology that evolves so quickly? cheap money. Investors are also agreeing to charge minimal interest, just 1% above what the safe US public debt pays, when they assume that risk. It’s a worrying classic sign of euphoria. There is so much money wanting to enter the sector that those who lend it have lowered their guard and demand very little return for their risk. They firmly believe in the promises of AI while increasingly more analysts warnhorrified, that we are facing an “irrational exuberance.” Having money is no longer enough. All this is already scary, but the real bottleneck for expansion is not even capital or chips, but the electrical grid. As Satya Nadella, CEO of Microsoft, pointed out, there is no power for so many chips. The situation is so worrying that a Deloitte study indicated in a study that there are a seven-year waiting line to connect some data center projects to the electrical grid. And if companies want to obtain financing, they need have guaranteed electricity supply for your data centers. If there is no plug, there is no loan. Big Tech looks for electrons. At OpenAI they already warned of the problem months ago when talking about the “electron gap” describing electrons (energy) as the new oil. Almost all the major companies in the industry are making a move. Google has signed an agreement with TotalEnergies to be delivered 1.5 TWh of electricity over the next 15 years, and Meta did something similar with Treaty Oak Clean Energy to get 385 MW of its solar plants in Louisiana. The bubble before the big question. All of this further increases the fear that the AI ​​bubble will end up bursting in a big way. Meanwhile, the big unknown is whether the demand for artificial intelligence will be capable of paying the immense electrical and financial bill that it is signing today in 5 or 10 years. The credit party continues. In Xataka | While Silicon Valley seeks electricity, China subsidizes it: this is how it wants to win the AI ​​war

Madrid was supposed to have renaturalized the Manzanares for its ecosystem. Now he has turned it into another tourist attraction

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It is not strange that in December talk about lights. In recent years some cities in Spain have launched a crazy race for displaying millions of LEDs along its streets or raising the tallest luminous Christmas tree in the country. What is less common is that people talk about the lights that decorate the bed of a river, which is precisely what has been worrying environmentalists and residents of Madrid for days. To be more precise it worries them the City Council’s initiative to activate 61 projectors in Manzanares. For the City Council, these lights are a success that will “more attractive” the riverbank and will reinforce its security. For neighbors and environmentalists, it is a mistake that will generate something very different: “light pollution.” What has happened? That Manzanares is news. And not because of the “renaturalization” process that began years ago, of which they stick out their chest the Madrid City Council and the neighbors and (among other things) has helped recover its fauna. The key in this case is quite different: the lighting system installed in a 560-meter stretch of the river, around Dam 6, between the districts of Arganzuela and Latina. Although the spotlights were installed there more than a year ago They were not activated until a few days agocoinciding with the on of Christmas lights. The problem is that what for the City Council is a cause for celebration for residents and environmentalists is a problem. Why’s that? Because the opinions regarding the Manzanares lights could not be more different. If you ask the City Council, it is an initiative “sustainable and respectful” with the environment that will benefit the neighbors and attract tourists. “It will make this city environment more attractive for residents and visitors, also offering more security to pedestrians,” claims José Luis Martínez-Almeida’s team in the statement in which he celebrated the commissioning of the lights, last Saturday the 22nd. “The 61 LED projectors will project a blue light to boost the attractiveness of the area and realize the central construction,” abounds the City Council before stating that the lights are part of a “pilot project” and are here to stay. For now, they will continue to operate beyond Christmas, on Fridays, Saturdays and Sundays, adapting their operating hours to sunset. What do the critics say? They talk about “light pollution” and a measure that has been deployed “despite citizen and scientific rejection.” Among those who have spoken out most vigorously against the 61 river projectors are: Ecologists in Action and the Corridor Verde-Imperial Neighborhood Associationgroups that put forward various arguments, such as that the new outbreaks will negatively affect the ecosystem or that they only seek to attract visitors. “It is unnecessary and harmful, it is not justified by any reason of general or public interest and it only responds to the arbitrary whim of the City Council in its desire to continue touristifying the city in general and Madrid Río in particular”, regrets Ecologists. However, the greatest emphasis is placed on the impact that LEDs will have on fauna, something that has already earned them “scientific rejection.” Will it affect the river ecosystem? It depends on who you ask. For the environmental group there are no doubts. “You cannot subject the fauna of Manzanares to an eternal day, not only the birds, but also the insects, which are a crucial part of the ecosystem,” warns in The Confidential Erika González, biologist. “Fauna, like human beings, also need darkness for their life cycle (…) It is difficult for us to understand why the City Council, the same one that decided to successfully renaturalize Manzanares and dedicates a budget for maintenance, now decides to attack the ecosystem.” Things are quite different for the local government, which in the same statement in which he reports on the switching on of the projectors, he emphasizes that the system has been designed applying environmental criteria. “It has been developed using solutions that minimize light pollution. The spotlights are located in a pocket of the river, limiting light emissions to the sky.” Is it the only disagreement? No. Another idea in which the City Council and the neighbors clash is the convenience and necessity of the lights. From the City Hall they argue that the lights will improve “safety” around the river, but residents question whether that is necessary. “There is no insecurity problem and if there were, the logical thing is that lights be installed on the street, not in the river bed,” reasons Susana de la Higuera, from the Pasillo Verde-Imperial Neighborhood Association. The controversy surrounding the Manzanares lights dates back a few months. In fact, the City Council installed them in 2024 with a view to Christmas of that year, but his critics took the issue to the courts and requested precautionary measures. Although the process is not resolved, the judge handling it denied a few months ago the temporary stay that kept the lights disconnected. Ecologists in Action regrets In any case, the City Council has turned them on with the contentious appeal still open. Their discomfort (like that of the neighbors) has already moved to the street with a protest on friday. Images | Madrid City Council In Xataka | Felipe II wanted to build an XXL canal from Madrid to Lisbon. Now the city has recovered it, inspired by Ancient Egypt

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