Markus Andrews

Thousands of international students whose immigration status was revoked by the Department of Homeland Security had their standing restored last week.
However, the Trump Administration’s sudden change in policy is causing some international college applicants to rethink their plans for next year and whether they want to study in the U.S. at all, college experts say.
One private college consultant with clients all over the world said there has been an uptick in interest in Canada and the U.K.

The Department of Homeland Security restored the legal status of thousands of international students who had their visas revoked, according to reports Friday.
College experts largely applauded the move, which was prompted by court challenges and lawsuits filed by affected students and their lawyers, as a win for students and higher education overall, but the gains could be short lived.

The Trump Administration’s sudden change in policy, however, is causing some international college applicants to rethink their plans for next year and whether they want to study in the U.S. at all, college experts now say.
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“Overall, this is a very positive development,” according to Robert Franek, editor-in-chief of The Princeton Review. It provides needed clarity for international students who have until Thursday, May 1, which is National College Decision Day — the deadline most schools set to choose which institution they will attend in the fall, he said.
For colleges and universities, “international enrollment is an incredible value in the classroom,” Franek said. To that end, college administrators remain highly focused on “having students with different experiences and a number of different voices represented,” he said.
But international student enrollment is also an important source of revenue for U.S. colleges and universities, which is why schools need a contingent of foreign students, who typically pay full tuition, Franek added. This financial reliance makes them a critical component of the higher education system, experts say.

However, because of the U.S. government’s recent changes to the student visa policy, which deactivated and then reactivated the immigration status of thousands of students, “there are a number of international students admitted to great colleges and really skeptical about whether they will come,” Franek said of plans for the fall of 2025.

‘Uncertainty is not good for long-term planning’

One private college consultant, who works with a large share of families from abroad, said he has already seen a shift in priorities among college-bound clients, fueled by nervousness about further policy changes.
“There’s so much uncertainty and uncertainty is not good for long-term planning,” said Hafeez Lakhani, founder and president of Lakhani Coaching in New York. 
Lakhani explained that he is working with families to “evaluate the risk” ahead of the enrollment deadline. Other high schoolers a year or more away from applying to college are rethinking their plans altogether, he said.
“We are already seeing some international students showing more interest in Canada and the U.K. — and it’s to those other countries’ benefit in terms of recruiting talent and tuition dollars,” Lakhani said.

International students are ‘economically advantageous’

There are more than 1.1 million international undergraduate and graduate students in the U.S., mostly from India and China, making up slightly less than 6% of the total U.S. higher education population, according to the latest Open Doors data, released by the U.S. Department of State and the Institute of International Education.
In the 2023-24 academic year, the U.S. hosted a record number of students from abroad, marking a 7% increase from the previous year. India surpassed China as the top sending country, with India sending more than 330,000 students. 
Altogether, international student enrollment contributed $43.8 billion to the U.S. economy in 2023-24, according to a separate report by NAFSA: Association of International Educators.
“Foreign students present a unique challenge for the Trump administration’s hardline immigration policy efforts,” said Christopher Rim, president and CEO of college consulting firm Command Education.
“On the one hand, international students account for a large portion of foreign residents in the U.S., and some of the most politically outspoken,” Rims said. “However, they are among the most economically advantageous, as well.”

But according to Rim, who also works with clients all over the world, the U.S. is still the main choice among college-bound students applying to top-ranked institutions, and that is unlikely to change overnight.
“I was in Hong Kong last week speaking to a packed audience of hundreds of students and parents about Ivy League and top-tier U.S. college admissions for expat and international families,” Rim said Monday.
“Despite global shifts, distinct and affluent families remain deeply eager to send their children to the United States for higher education,” he explained. “They continue to recognize the U.S. as home to the world’s leading universities.” More

U.S. investors have withdrawn money from ESG funds for 10 consecutive quarters, according to Morningstar.
The exodus is partly attributable to President Donald Trump’s antipathy for policies tied to climate change and DEI initiatives, experts said. Higher interest rates have also posed a headwind.
Demand for “environmental, social and governance” funds is here to stay, analysts argue. ESG enjoys support among certain states and investors, and stands to deliver higher long-term returns, they said.

US President Donald Trump holds letter to the UN stating the US withdrawal from the Paris Agreement during the inaugural parade inside Capital One Arena, in Washington, DC, on January 20, 2025.
Jim Watson | Afp | Getty Images

Investors have continued to pull money from so-called ESG funds in early 2025 amid an “intensifying” backlash fueled by President Trump’s “anti-climate agenda” and his administration’s policies targeting diversity, equity and inclusion initiatives, according to a new Morningstar report.
Also known as socially responsible, sustainable, impact or values-based investing, “environmental, social and governance” funds let people invest according to certain values like climate change or corporate diversity.

Investors withdrew $6.1 billion from ESG funds in the first three months of 2025, after yanking out $4.3 billion in Q4 2024, according to Morningstar.
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The exodus in Q1 marked the 10th consecutive quarter of outflows.
“The continued loss of appetite among US investors for sustainable funds can be partly attributed to an anti-ESG backlash, which has intensified since the return of President Trump to the White House,” according to the report.
As of the end of Q1, U.S. investors held $330 billion in ESG funds, about 10% of the global total.

Pushback against climate, DEI policies

Yaorusheng | Moment | Getty Images

Even before Trump took office, persistently high interest rates weighed on performance in segments of the ESG market, like clean energy and other “green” stocks, according to Morningstar. Higher borrowing costs burden the renewables sector because the projects can be capital-intensive.
But Trump added additional pressure.
Within days of his inauguration, Trump announced the U.S. would withdraw from the Paris agreement, blocked subsidies for electric vehicles, pushed for more fossil-fuel production and started a “huge pushback” against DEI policies, Diana Iovanel, a senior markets economist at Capital Economics, wrote in a research note in March.

In late March, the Republican-led Securities and Exchange Commission stopped defending a climate-change disclosure rule in court. There’s also uncertainty about the fate of the Inflation Reduction Act, a historic climate change mitigation law signed by President Joe Biden.
Even before Trump’s second term began, at least 18 Republican-led states had adopted “anti-ESG legislation,” prompting some large asset managers to “pare back” their ESG efforts, Iovanel wrote.
Trump also signed an executive order to eliminate all DEI-related mandates and programs within the federal government, prompting major corporations like Walmart (WMT), Lowe’s (LOW) and Meta (META) to begin “scaling back their DEI commitments,” Morningstar wrote.

Why Trump isn’t ‘game over’ for ESG

Despite the headwinds, Trump’s agenda “isn’t ‘game over’ for ESG investing,” Iovanel wrote.
Demand for ESG investments “is here to stay” even in the face of political pressure, she wrote.
For one, despite Republican antipathy for ESG investing, it also has ample support, Iovanel wrote. States such as California have implemented pro-ESG regulations, and surveys indicate most large asset managers (including ones in the U.S.) invest in ESG assets despite the apparent controversy, she wrote.
Demand among individual investors also appears relatively high, especially among younger investors, analysts said.
About 84% of individual investors in the U.S. are interested in sustainable investing, according to a 2024 Morgan Stanley survey. Roughly two thirds, 65%, of respondents said their interest had increased in the prior two years.

While critics deride it as “woke” capitalism, advocates say there’s a strong investment thesis for ESG.
Specifically, they argue that ESG investing positions investors for higher long-term returns because companies that adopt such practices are poised to be more resilient, and therefore more successful, than peers. More

A 2024 analysis from Bain & Company projects that private market assets could tally $60 trillion to $65 trillion globally by 2032.
But retail investors should approach private equity opportunities with caution, writes Jonathan Foster, president and CEO at Angeles Wealth Management.
“Retail investors may find it challenging to navigate the full range of complexities that can accompany investment in private equity,” he writes.

Private equity has historically been the playground of institutional investors, pensions, endowments and accredited investors — a group that includes high-net-worth and ultra-high-net-worth individuals, banks, financial firms and trusts. These investors are usually deemed financially sophisticated, capable of handling the risks and illiquidity inherent in long-term private market investments.
However, a recent push by the Securities and Exchange Commission to broaden the definition of an “accredited investor” has opened the door for retail investors to access PE.

This shift raises important questions: Are retail investors adequately prepared to take on the complexities and risks that come with investing in private equity? Do they understand that they may simply be targeted to fill capacity, often receiving fewer desirable opportunities compared to institutional players? 

A rush to private markets

Alvaro Gonzalez | Moment | Getty Images

The allure of private equity is considerable. A 2024 analysis from Bain & Company projects that private market assets will grow at more than twice the rate of public assets, reaching $60 trillion to $65 trillion globally by 2032. This explosive growth has understandably sparked a wave of interest among retail investors, many of whom are drawn to the promise of diversification and higher returns, especially after the volatility of traditional markets that occurred in 2022. 
However, the democratization of private equity comes with significant caveats.
Retail investors are often seen as a source of capacity for PE firms, providing capital that more sophisticated institutional investors may shun. These opportunities, frequently offered through vehicles like interval funds, are structured to mimic traditional mutual funds but with limited liquidity — often allowing withdrawals only quarterly, sometimes capping or suspending them entirely. While these structures may offer access to private markets, they often lack the exclusivity and prime opportunities reserved for institutional investors. 
Moreover, retail investors may find it challenging to navigate the full range of complexities that can accompany investment in private equity. Unlike public markets, private equity often operates in an opaque environment, with no requirement to disclose financials, operations or liabilities. This lack of transparency can leave retail investors in the dark about the true risks and performance of their investments.

Additionally, the illiquid nature of these non-correlated assets means investors may be prepared to wait years for an exit, with no guarantee of returns. What happens if a retail investor needs to liquidate their position during a market downturn? The options are limited, and the consequences can be severe.

The risk of FOMO

The fear of missing out on alternative investments like private equity can be a powerful motivator, but it can also lead to poor decision-making. Retail investors may not fully appreciate the nuances of private equity, such as the higher fees, longer lock-up periods and limited liquidity. They may also underestimate the risks associated with investing in an industry that thrives on exclusivity and general sophistication. 
While institutional investors typically have the resources to conduct thorough due diligence and the ability to negotiate favorable terms, retail investors often rely on intermediaries who may not have their best interests at heart. This dynamic can result in retail investors being offered lower-tier opportunities, such as co-investments, or funds-of-funds, which may not deliver the same returns as direct investments in top-tier private equity funds. 

Further, the lack of regulatory oversight in private equity means retail investors must rely on their own judgment and the credibility of the firms they invest in. This can be a tall order for individuals without deep expertise or experience in what has historically shown itself to be a complex and opaque industry. 

Proceed with caution

The democratization of private equity is a double-edged sword. While it offers retail investors access to an asset class previously reserved for the wealthy and institutional players, it also exposes them to significant risks and complexities. The truth about private equity is that it is not a one-size-fits-all solution. It requires patience, expertise and a high tolerance for risk — attributes that may not align with every retail investor’s profile or objectives. 

As the rush to private markets continues, maintaining a healthy skepticism is essential. Retail investors must ask themselves whether they are truly prepared for the complexities of private equity. Are they willing to accept the illiquidity, opacity and potential for lower-tier opportunities? Or are they being lured by the promise of higher returns without fully understanding the risks? 
Only time will tell how the democratization of private equity will play out. In the meantime, retail investors should approach PE opportunities with caution, seeking advice from trusted financial professionals while carefully weighing the potential rewards versus the risks.
Jonathan Foster is president and CEO at Angeles Wealth Management. More

May 7 is the deadline for U.S. air travelers to have a Real ID — an upgraded driver’s license or state identification card issued by a state agency.
Travelers who don’t have a Real ID can use a valid U.S. passport, passport card, permanent resident card, or certain Department of Homeland Security trusted traveler cards.
About 19% of Americans don’t have a form of identification that will substitute for a Real ID, however, according to TSA data.

Hinterhaus Productions | Digitalvision | Getty Images

The deadline for U.S. travelers to get a Real ID is fast approaching — and those who don’t have one may not be able to board flights within the U.S.
The Real ID card is an optional, upgraded driver’s license or state identification card that is issued by a state driver’s licensing agency and marked with a star.

The good news: There are other forms of identification U.S. travelers can use — such as a valid U.S. passport, passport card, permanent resident card, or certain Department of Homeland Security trusted traveler cards — if they can’t get a Real ID by the deadline, May 7.
“There are workarounds people can use,” said John Breyault, a travel expert at the National Consumers League, a consumer advocacy group. “Most people already have the ability to travel, whether they have a Real ID or not.”
About 19% of travelers don’t yet have a Real ID-compliant type of identification, according to Transportation Security Administration data as of Thursday.
Passengers who arrive at the airport without an acceptable form of ID “can expect to face delays, additional screening and the possibility of not being permitted into the security checkpoint,” according to the TSA.
Even passengers who have a Real ID card or other acceptable ID should aim to be at the airport at least 1½ hours ahead of their flight, due to likely delays in airport security lines as enforcement gets underway, Breyault said.

What is the Real ID law?

Congress passed the Real ID Act in 2005. The law set minimum security standards for state-issued driver’s licenses and ID cards.
The federal government will require Americans who access federal facilities to have a Real ID starting May 7. That includes travelers who go through TSA airport security checkpoints and board commercial airplanes, even for domestic flights.
The rule applies to all airline passengers 18 years and older, including TSA PreCheck members.

How to get around the Real ID rule

Travelers can skirt the requirement to present a Real ID card if they have other types of approved identification.
Experts said the most common among them are: a passport or passport card; a Global Entry card; an enhanced driver’s license issued by Washington state, Michigan, Minnesota, New York or Vermont; or a permanent resident card, also known as a green card.
Here’s a list of all acceptable alternatives, according to the TSA:

State-issued enhanced driver’s license
U.S. passport
U.S. passport card
Department of Homeland Security-issued trusted traveler cards (Global Entry, NEXUS, SENTRI, FAST)
U.S. Department of Defense ID, including IDs issued to dependents
Permanent resident card
Border crossing card
An acceptable photo ID issued by a federally recognized Tribal Nation/Indian Tribe, including Enhanced Tribal Cards (ETCs).
HSPD-12 PIV card
Foreign government-issued passport
Canadian provincial driver’s license or Indian and Northern Affairs Canada card
Transportation worker identification credential
U.S. Citizenship and Immigration Services Employment Authorization Card (I-766)
U.S. Merchant Mariner Credential
Veteran Health Identification Card (VHIC)

‘Get that Real ID’

It may be somewhat riskier to travel with an alternative document such as a passport for domestic flights, said Sally French, a travel expert at NerdWallet.
“A passport is much more complicated to replace than a driver’s license, and it’s more expensive,” French said. “Get that Real ID.”
A traditional passport book costs $130 to renew. Real ID fees vary by state but are generally less costly, experts said. They typically aren’t more expensive than a standard driver’s license.
For example, in California it costs $45 to renew a standard driver’s license or $39 to renew a regular ID card; in Virginia, there’s a $10 one-time Real ID fee, plus a driver’s license fee, usually $32.
Desperate travelers can also gamble by showing up at the airport without a Real ID-compliant form of identification on May 7 and beyond, and hope airport agents show some mercy, French said.
It’s a “much longer screening” process and isn’t guaranteed, French said. It’s a “Hail Mary,” she said. More

Ticker seen at Charles Schwab headquarters located on 211 Main St. seen on Monday, Nov. 25, 2019, in San Francisco, Calif. (Photo By Liz Hafalia/The San Francisco Chronicle via Getty Images)
Liz Hafalia | The San Francisco Chronicle via Getty Images

Global stock markets continue to be volatile, influenced by the news around wavering tariffs and trade tensions. While the Trump administration’s relaxation of certain tariffs could provide some relief, the ongoing uncertainties and macro challenges might continue to weigh on investor sentiment.
Given this scenario, investors can take cues from the recommendations of top analysts and pick some attractive stocks that have the ability to thrive despite short-term headwinds.

With that in mind, here are three stocks favored by the Street’s top pros, according to TipRanks, a platform that ranks analysts based on their past performance.

Charles Schwab

First on this week’s list is financial services company Charles Schwab (SCHW), which offers a wide range of brokerage, banking, and advisory services through its operating subsidiaries. On April 17, the company announced better-than-expected revenue and earnings for the first quarter of 2025.
Following the upbeat results and a positive conference call, TD Cowen analyst William Katz raised his 2024-2026 earnings estimates. He also reaffirmed a buy rating on Charles Schwab stock and increased his price target to $95 from $88, saying, “SCHW remains our top pick.”
Katz noted that management’s commentary was essentially bullish, highlighting positives like solid momentum in new business trends/demographics and operating leverage. He added that April started on a robust note for the company, thanks to strong trading, continued rise in client cash, relatively durable client margin balances, and likely solid net new assets (NNAs).
The analyst believes that despite positive EPS revisions and ongoing market volatility, his model is still conservative when it comes to key drivers like NNAs/client cash.

Katz sees the possibility for additional P/E multiple expansion, driven by robust/more consistent management execution, favorable organic growth dynamics, notable operating leverage, and rapid improvement in balance sheet flexibility.
Katz ranks No. 323 among more than 9,400 analysts tracked by TipRanks. His ratings have been profitable 58% of the time, delivering an average return of 10.2%. See Charles Schwab Financials on TipRanks.

Netflix

Next up is streaming giant Netflix (NFLX), which recently posted a significant earnings beat for the first quarter of 2025. Higher-than-expected subscriptions and ad dollars helped boost revenue and earnings in the quarter.
Impressed by the Q1 print, JPMorgan analyst Doug Anmuth reiterated a buy rating on NFLX stock and raised the price target to $1,150 from $1,025. “NFLX continues to play offense in its business, while the stock remains defensive in the uncertain environment,” said the analyst.
Anmuth noted that on the offensive side, Netflix offered solid content in Q1 2025, with “Adolescence” and three films breaking into the streaming platform’s all-time most popular list. He added that the company is strategically raising prices, including the recently announced increase in France and the upcoming hikes in the U.S. and U.K. Another positive highlighted by Anmuth was the rise in Netflix’s advertising business, supported by growing user scale and monetization.
On the defensive side, the analyst pointed out Netflix’s subscription-based model, low churn, strong engagement and high entertainment value. Its low-priced ad tier ($7.99/month in the U.S.) also makes the service very accessible. While Netflix is not directly hit by tariffs, Anmuth noted that the company’s shareholder letter and interview highlighted its commitment to international programming and production in Latin America, Asia, Europe, and the U.K.
Overall, Anmuth is bullish on Netflix stock due to several positives, including the expectation of double-digit revenue growth in 2025 and 2026, a continued rise in operating margin despite growth investments, and a dominant position in the streaming space.
Anmuth ranks No. 81 among more than 9,400 analysts tracked by TipRanks. His ratings have been successful 59% of the time, delivering an average return of 18.3%. See Netflix Hedge Fund Trading Activity on TipRanks.

Verra Mobility

Finally, let’s look at Verra Mobility (VRRM), a provider of smart transportation solutions like integrated technology to help customers manage tolls, violations, and vehicle registrations and school zone traffic cameras.
Recently, Baird analyst David Koning upgraded Verra Mobility stock to buy from hold with a price target of $27. The analyst highlighted the company’s solid market position. He finds a tough macro environment as a good time to upgrade the stock, because he views “high-quality companies as less pressured by investors during tougher/uncertain times.”
While Koning acknowledged the potential impact of macro pressures on travel volumes, he is bullish on Verra Mobility due to its strong moat. Specifically, the analyst noted the solid position of the company’s Commercial unit via its rental vehicle toll transponders and the moat in its Government unit through products like speed/red light/school zone cameras.
Additionally, Koning emphasized the renewal of the New York City (NYC) contract, which accounts for nearly 16% of Verra Mobility’s total revenue. The analyst also thinks that states/municipalities may require more cameras during a challenging macro environment to drive more ticket revenue.
Koning expects Verra’s EPS estimates to be largely intact in a market where the earnings estimates of many companies could be lowered. At a valuation of 15x the 2026 EPS estimate, the analyst finds Verra stock attractive, given that it is a high-moat business.
Koning ranks No. 232 among more than 9,400 analysts tracked by TipRanks. His ratings have been profitable 55% of the time, delivering an average return of 13.2%. See Verra Mobility Ownership Structure on TipRanks. More

Under the Biden administration, the U.S. Department of Education made regular announcements that it was forgiving student debt for thousands of people.
That’s changed under President Donald Trump.
Here’s what to know about the current status of federal student loan forgiveness opportunities.

Halfpoint Images | Moment | Getty Images

Under the Biden administration, the U.S. Department of Education made regular announcements that it was forgiving student debt for thousands of people under various relief programs and repayment plans.
That’s changed under President Donald Trump.

In his first few months in office, Trump — who has long been critical of education debt cancellation — signed an executive order aimed at limiting eligibility for the popular Public Service Loan Forgiveness program, and his Education Department revised some student loan repayment plans to no longer conclude in debt erasure.
“You have the administration trying to limit PSLF credits, and clear attacks on the income-based repayment with forgiveness options,” said Malissa Giles, a consumer bankruptcy attorney in Virginia.
The White House did not respond to CNBC’s request for comment.
Here’s what to know about the current status of federal student loan forgiveness opportunities.

Forgiveness chances narrow on repayment plans

The Biden administration’s new student loan repayment plan, Saving on a Valuable Education, or SAVE, isn’t expected to survive under Trump, experts say. A U.S. appeals court already blocked the plan in February after a GOP-led challenge to the program.

SAVE came with two key provisions that lawsuits targeted: It had lower monthly payments than any other federal student loan repayment plan, and it led to quicker debt erasure for those with small balances.
“I personally think you will see SAVE dismantled through the courts or the administration,” Giles said.
But the Education Department under Trump is now arguing that the ruling by the 8th U.S. Circuit Court of Appeals required it to end the loan forgiveness under repayment plans beyond SAVE. As a result, the Pay As You Earn and Income-Contingent Repayment options no longer wipe debt away after a certain number of years.
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There’s some good news: At least one repayment plan still leads to debt erasure, said higher education expert Mark Kantrowitz. That plan is called Income-Based Repayment.
If a borrower enrolled in ICR or PAYE eventually switches to IBR, their previous payments made under the other plans will count toward loan forgiveness under IBR, as long as they meet the IBR’s other requirements, Kantrowitz said. (Some borrowers may opt to take that strategy if they have a lower monthly bill under ICR or PAYE than they would on IBR.)

Public Service Loan Forgiveness remains

Despite Trump’s executive order in March aimed at limiting eligibility for Public Service Loan Forgiveness, the program remains intact. Any changes to the program would likely take months or longer to materialize, and may even need congressional approval, experts say.
PSLF, which President George W. Bush signed into law in 2007, allows many not-for-profit and government employees to have their federal student loans canceled after 10 years of payments.
What’s more, any changes to PSLF can’t be retroactive, consumer advocates say. That means that if you are currently working for or previously worked for an organization that the Trump administration later excludes from the program, you’ll still get credit for that time — at least up until when the changes go into effect.

For now, the language in the president’s executive order was fairly vague. As a result, it remains unclear exactly which organizations will no longer be considered a qualifying employer under PSLF, experts said.
However, in his first few months in office, Trump has targeted immigrants, transgender and nonbinary people and those who work to increase diversity across the private and public sector. Many nonprofits work in these spaces, providing legal support or doing advocacy and education work.
For now, those pursuing PSLF should print out a copy of their payment history on StudentAid.gov or request one from their loan servicer. They should keep a record of the number of qualifying payments they’ve made so far, said Jessica Thompson, senior vice president of The Institute for College Access & Success.
“We urge borrowers to save all documentation of their payments, payment counts, and employer certifications to ensure they have any information that might be useful in the future,” Thompson said.

Other loan cancellation opportunities to consider

Federal student loan borrowers also remain entitled to a number of other student loan forgiveness opportunities.
The Teacher Loan Forgiveness program offers up to $17,500 in loan cancellation to those who’ve worked full time for “complete and consecutive academic years in a low-income school or educational service agency,” among other requirements, according to the Education Department.
(One thing to note: This program can’t be combined with PSLF, and so borrowers should decide which avenue makes the most sense for them.)

In less common circumstances, you may be eligible for a full discharge of your federal student loans under Borrower Defense if your school closed while you were enrolled or if you were misled by your school or didn’t receive a quality education.
Borrowers may qualify for a Total and Permanent Disability discharge if they suffer from a mental or physical disability that is severe and permanent and prevents them from working. Proof of the disability can come from a doctor, the Social Security Administration or the Department of Veterans Affairs.
With the federal government rolling back student loan forgiveness measures, experts also recommend that borrowers explore the many state-level relief programs available. The Institute of Student Loan Advisors has a database of student loan forgiveness programs by state.

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Tech and fossil fuel companies gathered in Oklahoma City to discuss how the U.S. can meet the growing energy demand from artificial intelligence.
Amazon and Nvidia executives said all options are on the table including gas.
The idea of using coal, however, was met with unease by the tech executives.

Anton Petrus | Moment | Getty Images

OKLAHOMA CITY — Amazon and Nvidia told a room of oil and gas executives this week that all options are on the table to power artificial intelligence including fossil fuels such as natural gas.
The tech and energy industries gathered in Oklahoma City at the Hamm Institute for American Energy to discuss how the U.S. can meet the growing energy needs for AI data centers. 

The Big Tech companies have invested mostly in renewable power in an effort to slash their carbon dioxide emissions, but they are now navigating a changed political environment. President Donald Trump has ditched U.S. commitments to fight climate change as he seeks to increase fossil fuel production, particularly natural gas.
There is now growing public acknowledgment from the tech industry that gas will be needed, at least in the near term, to help fuel AI.
“To have the energy we need for the grid, it’s going to take an all of the above approach for a period of time,” Kevin Miller, Amazon’s vice president of global data centers, said during a panel discussion Thursday. “We’re not surprised by the fact that we’re going to need to add some thermal generation to meet the needs in the short term.”
Amazon remains focused on slashing its carbon emissions, Miller said. It is the largest corporate purchaser of renewable energy and is investing in advanced nuclear and carbon capture technology to reduce the environmental impact of its energy consumption, the executive said.
But those advanced technologies will not come online until the 2030s and Amazon needs steady and secure power now, Miller said.

“We’re very explicit that meeting customers’ demands for capacity is first and foremost in our priority list, and so having access to power is first and foremost what we focus on,” Miller said. “And we have a goal to be net-zero carbon as a company by 2040 and are very focused on that.”
Nvidia is also focused on environmental impact but wants “all options on the table” as AI faces an energy crunch, said Josh Parker, the chipmaker’s senior director of corporate sustainability.
“At the end of the day, we need power. We just need power,” Parker said at the panel. “We have some customers who really prioritize the clean energy, and some customers who don’t care as much,” the executive said.
Anthropic co-founder Jack Clark called for data center developers to be realistic about the energy sources that are currently available. Anthropic estimates that 50 gigawatts of new power is needed by 2027, equivalent to about 50 nuclear reactors. AI demand can help drive the development of “new and novel sources” of power over the longer term, he said.
The idea of using coal, however, was met with unease. Trump recently signed an order that aims to boost coal production, citing demand from AI. The Amazon and Nvidia executives did not answer directly when asked during the panel whether they thought coal had a role play in powering AI.
“You have a broader set of options than just coal,” Clark said. “We would certainly consider it, but I don’t think I’d say it’s at the top of our list.”

Catch up on the latest energy news from CNBC Pro: More

To successfully retire, it is mostly up to Americans to save as much as possible while they’re working.
Once they do retire, they must carefully manage those funds to potentially last for decades.
Many retirees are worried they’ll run out of money before they die. There are ways to reduce that risk, experts say.

M Swiet Productions | Getty Images

Many Americans are worried they’ll run out of money in retirement.
In fact, a new survey from Allianz Life finds that 64% Americans worry more about running out of money than they do about dying. Among the reasons cited for those fears include high inflation, Social Security benefits not providing enough support and high taxes.

The fear of running out of money was most prominent for Gen Xers who are approaching retirement. However, a majority of millennials and baby boomers also said they worry about their money lasting, according to the online survey of 1,000 individuals conducted between January and February.
Separately, a new Employee Benefit Research Institute report finds most retirees say they are living the lifestyle they envisioned and are able to spend money within reason. Yet more than half of those surveyed agreed at least somewhat that they spend less because of worries they will run out of money, according to the survey of more than 2,700 individuals conducted between January and February.
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Meanwhile, a Northwestern Mutual survey reported that 51% of Americans think it’s “somewhat or very likely” they will outlive their savings. The survey polled 4,626 U.S. adults aged 18 and older in January.
Since those studies were conducted, new tariff policies have caused disturbance in the stock markets and prompted speculation that inflation may increase. Meanwhile, new leadership at the Social Security Administration has prompted fears about the continuity of benefits. Those headlines may negatively affect retirement confidence, experts say.

With employers now providing a 401(k) plan and other savings plans versus pensions, it is largely up to workers to manage how much they save heading into retirement and how much they spend once they reach that life stage. That responsibility can also lead to worries of running out of money in the future, experts say.

How to manage the ‘fear of outliving your resources’

Because of the unique risks every individual or couple faces when planning for retirement, the best approach is typically to transfer some of that burden to a third party, said David Blanchett, head of retirement research at PGIM DC Solutions.
Creating a guaranteed lifetime income stream that covers essential expenses can help reduce the financial impact of any events that require retirees to cut back on spending, Blanchett explained.
That should first start with delaying Social Security benefits, he said. While eligible retirees can claim benefits as early as 62, holding off up until age 70 can provide the biggest monthly benefits. Social Security is also unique in that it provides annual adjustments for inflation.

Next, retirees may want to consider buying a lifetime income annuity that can help amplify the monthly income they can expect. Admittedly, those products can be complicated to understand. Therefore Blanchett recommends starting out by comparing very basic products like single premium immediate annuities that are easier to compare.
“Unless you do those things, you just can’t get rid of that fear of outliving your resources,” Blanchett said.
Without a guaranteed income stream, retirees bear all of the financial risk themselves, he said.
 “Retirement could last 10 years; it could last 40 years,” Blanchett said. “You just don’t know how long it’s going to be.”
Among retirees, there has been some hesitation to buy annuities, said Craig Copeland, EBRI’s director of wealth benefits research. Such a purchase requires parting with a lump sum of money in exchange for the promise of a guaranteed income stream.
“We see great increase in interest, but we aren’t seeing upticks in take up yet,” Copeland said. “I do think that’s going to start to change.”

What can help boost retirement confidence

To effectively plan for retirement, it helps to seek professional financial assistance, experts say.
Meanwhile, few people have a plan of their own for how they may live on the assets they’ve worked hard to accumulate, according to Kelly LaVigne, vice president of consumer insights at Allianz Life.
“This is something that you should not plan on doing on your own,” LaVigne said.
While the survey from Northwestern Mutual separately found individuals think they need $1.26 million to retire comfortably, the real number individuals need is based on their personal situation, said Kyle Menke, founder and wealth management advisor at Menke Financial, a Northwestern Mutual company.
In thinking about how life will look in 30 years, there are a variety of things to consider, Menke said. This includes stock market returns, taxes, inflation and medical expenses, he said.
Even people who have enough money for retirement often don’t feel confident in their ability to manage all of those factors on their own, he said. Financial advisors have the ability to run different simulations and stress test a plan, which can help give retirees and aspiring retirees the confidence they’re lacking.
“I think that’s where the biggest gap is,” said Menke, referring to the confidence Americans are lacking without a plan. More