01:55 PM EDT, 10/21/2025 (MT Newswires) -- Alphabet's (GOOG, GOOGL) Google Moonshot Factory plans to review Rio de Janeiro's electricity grid amid the city's efforts to attract data centers and become a regional artificial intelligence hub, Bloomberg reported Tuesday, citing the city's Vice Mayor Eduardo Cavaliere.

The review will be led by Tapestry, a division of Moonshot Factory that specializes in grid management, and will be among four initiatives that will be announced next month, Cavaliere told Bloomberg. The agreement with Tapestry will not include any direct investment in data centers, the report added.

A proposed Rio AI City that is being developed by Elea Data Centers aims to attract major US technology firms and reach 1.5 gigawatts of data center capacity by 2028 or 2029, Elea Chief Executive Alessandro Lombardi told Bloomberg.

Tapestry didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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