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TribeMarks

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A single observation from the data behind the week's news, redrawn on our own plate and cited to its owner. Nothing to forecast, nothing to argue with: what moved, and why it matters.

TRIBEMARKS · 006 ENERGY · 29 OCT 2026 US data centres: 66bn litres on site, 800bn at power plants 0bn L200bn L400bn L600bn L800bn LOn site, 2014On site, 2023Power plants, 2023~12× on site US data centres consumed about 66bn litres of water on site in 2023; their powerplants consumed nearly 800bn, which dry cooling does not reduce. Source: Lawrence Berkeley National Laboratory · 20 Dec 2024 equitytribes.com/marks/006
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US data centres: 66bn litres on site, 800bn at power plants. Values shown in bn L.
PeriodWater consumed, billion litres
On site, 201421.2
On site, 202366
Power plants, 2023800

US data centres consumed about 66bn litres of water on site in 2023; their power plants consumed nearly 800bn, which dry cooling does not reduce.

Source

Lawrence Berkeley National Laboratory · 20 December 2024

2024 United States Data Center Energy Usage Report. Direct (on-site) consumption 21.2bn litres in 2014 and 66bn in 2023; indirect consumption through electricity generation 'nearly 800 billion liters' in 2023, shown as 800. Consumption, not withdrawal.

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TRIBEMARKS · 005 ENERGY · 29 OCT 2026 US utilities asked for $23.1bn of rate rises by September $0bn$10bn$20bn$30bn20242025Jan–Sep 2026incl. record Q3 Electric and gas utilities requested $23.1bn of rate increases in January–September2026; that follows a record of nearly $31bn in 2025 and $15bn in 2024. Source: PowerLines · 7 Oct 2026 equitytribes.com/marks/005 TRIBEMARKS · 004 CAPITAL · 29 OCT 2026 Chinese brands took 14.5% of Europe's car market in September 0.0%5.0%10.0%15.0%20252026Chinese-brand share, Europe (EU+EFTA+UK) 14.5%passes Japanese brands Chinese brands' share of EU+EFTA+UK registrations rose from 4.0% in January 2025 to14.5% in September 2026; the UK, on a 10% duty only, is at 23.3%. Source: Dataforce via UPI; SMMT via Automotive World · 27 Oct 2026 equitytribes.com/marks/004 TRIBEMARKS · 003 CAPITAL · 29 OCT 2026 China's car industry: 1.4% margin in September, 7.8% in 2017 0.0%2.0%4.0%6.0%8.0%2017201820192020202120222023202420259M 2026Sep 2026four-year low The profit margin of China's auto industry fell to 3.3% in January–September 2026and 1.4% in September; exports of 8.2m vehicles cushion volume, not profit. Source: NBS/CPCA via Gasgoo · 27 Oct 2026 equitytribes.com/marks/003 TRIBEMARKS · 002 CAPITAL · 27 OCT 2026 The $300bn PE debt wall starts in 2028; a third of it is software SoftwareEx-software$0bn$50bn$100bn$150bn202720282029 Below-investment-grade loans to PE-backed companies due in 2028–29 total about$300bn; software and IT services account for roughly a third. Source: PitchBook via WSJ · 27 Oct 2026 equitytribes.com/marks/002 TRIBEMARKS · 001 CAPITAL · 27 OCT 2026 A year of cuts, then the ECB turned: two hikes since June 0.0%2.0%4.0%2023202420252026Deposit facility 2.5%First hike · Jun 2026 Eight cuts took the deposit rate from 4% to 2% by June 2025; the Iran-war energyshock has brought two hikes since, to 2.5%. Source: ECB, key interest rates · 10 Sept 2026 equitytribes.com/marks/001

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