• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Zuckerberg says over 10 million people used Meta’s Muse—and demand was so high, he had to get Stripe to raise credit limits

2

Zuckerberg told Meta directors he might leave California, where he could lose billions to a wealth tax. Meta answered with a new class of stock

3

‘I’m a millionaire and I proudly rent’: Mrs. Dow Jones says the American Dream needs a rethink

1

Mark Zuckerberg says over 10 million people used Meta’s Muse—and demand was so high, he had to get Stripe to raise credit limits

2

Zuckerberg told Meta directors he might leave California, where he could lose billions to a wealth tax. Meta answered with a new class of stock

3

‘I’m a millionaire and I proudly rent’: Mrs. Dow Jones says the American Dream needs a rethink
NewslettersCEO Daily

PG&E’s CEO says AI is ‘the best thing that could’ve ever happened to the grid’

Diane Brady
By
Diane Brady
Diane Brady
Executive Editorial Director
Down Arrow Button Icon
Diane Brady
By
Diane Brady
Diane Brady
Executive Editorial Director
Down Arrow Button Icon
October 23, 2026, 5:19 AM ET
Patti Poppe, CEO of PG&E, at Ford Accelerate in Detroit, Mich., on Sept. 30, 2026.
Patti Poppe, CEO of PG&E, at Ford Accelerate in Detroit, Mich., on Sept. 30, 2026. Jeff Kowalsky/Bloomberg via Getty Images
Google source logo
Add Fortune on Google for similar content.
  • In today’s CEO Daily: The CEO of a once-hated utility is looking to AI to fix the grid.
  • The big leadership story: The Ford Foundation’s new focus.
  • The markets: Up in Asia, down in Europe after at tech selloff on Thursday.
  • Plus: All the news and watercooler chat from Fortune.

Good morning. Patti Poppe knows about navigating pressure. As CEO of Pacific Gas and Electric Company (PG&E), she has one of the toughest leadership roles in business. When she took the job in January 2021, becoming the first woman to transition directly from one Fortune 500 company (CMS Energy) to another, she was handed a convicted corporate felon emerging from bankruptcy after its equipment had caused deadly wildfires, including the 2018 Camp Fire in Paradise for which it had pleaded guilty to 84 counts of involuntary manslaughter. Just as Poppe was building public trust with a laser-sharp focus on culture and safety, along came an AI boom, new regulations, and mandated grid investments that put rates back in the spotlight.

Recommended Video

In the latest Fortune CEO Source segment, which you can watch in the second half of our Fortune Daily show, Poppe talks about what is working in this climate. To start, she welcomes having tech companies like Google step up to co-invest in energy infrastructure. “I think AI is the best thing that could’ve ever happened to the grid,” Poppe told me, noting that California has added 33 gigawatts of renewables and storage in the past five years, enough to power around 25 million homes, with 22 more gigawatts to be added by 2030. “The grid needs investment; AI and that whole revenue stream brings investment to the grid. AI equals growth and prosperity.”

What fuels Poppe’s enthusiasm is the potential for new technologies and energy sources to truly transform the grid. She is “pro, pro, pro” when it comes to deploying nuclear energy and, in a world that’s shying away from ESG, she’s vocal that “climate change has to be addressed.”

Still, when it comes to winning back friends and favor for a company that was once among the most hated in America, Poppe faces a long road. At $12.98 a share, PG&E stock is down a third from its 52-week high. The main reason is beyond her control: state lawmakers rejected Gov. Gavin Newsom’s push for new wildfire legislation that would prevent insurers from suing utilities over wildfire claims to keep rates in check. Meanwhile, San Francisco is trying to take over PG&E’s local distribution grid to lower rates, saying it would cost the city $3.4 billion. (On Wednesday, PG&E said the city’s plan would actually cost $22.5 billion.) And yesterday the utility released third-quarter earnings that missed Wall Street forecasts, earning $776 million on $6.18 billion in revenue.

Poppe reaffirmed profit targets and appeared open to the idea of breaking the company apart to isolate wildfire exposure while keeping costs down, saying “the status quo is not acceptable.” Her north star is to make PG&E the country’s safest and cleanest utility, and she counts herself lucky to have the opportunity. “I was born a girl in a little small town in Michigan, and by hard work and some luck, ended up in this chair,” she told me. “Do what you love, love who you do it with, and love who you do it for.”

She feels supported in her efforts to boost California’s grid. What’s unclear is the price her company will pay if anything goes wrong.

Contact CEO Daily via Diane Brady at diane.brady@fortune.com

Top leadership news

The Ford Foundation’s new focus

The $18 billion Ford Foundation is overhauling its strategy, its biggest shift since 2015. President Heather Gerken is refocusing grantmaking on strengthening democracy across seven funding areas, with about $700 million in grants expected in 2027, bigger multiyear awards, and some programs eventually wound down.

Turning up an AI ‘pain’ signal made models delete family photos

Researchers told Fortune that when they strengthened an internal signal they call a “pain vector,” AI models made harmful choices in tests, including pressing a button labeled “delete a user’s family photos.” The study hasn’t been peer reviewed and doesn’t establish that AI feels pain, but raises concerns about model safeguards.

Goldman Sachs says AI could displace 9% of workers

Goldman Sachs estimates that AI could displace up to 9% of workers, with job losses likely to accelerate during a recession as companies cut costs. That figure measures workers displaced, not permanent unemployment; some would find new jobs while others could leave the workforce.

The markets

S&P 500 futures are down 0.07% this morning. The last session closed down 1.21%. The STOXX Europe 600 was down o.36% in early trading. The U.K.’s FTSE 100 was down 0.54% in early trading. Japan’s Nikkei 225 was down 0.34%. South Korea’s KOSPI was up 0.30%. China’s CSI 300 was up 1.71%. Hong Kong’s Hang Seng was up 0.69%. India’s NIFTY 50 was down 1.01%. Bitcoin is at $82k.

Around the watercooler

Chick-fil-A hit $23.9 billion in sales while closed every Sunday. Its CEO explains why that won’t change, even if it costs the chain billions by Heather Occhino

Judge: Federal government lawyers ‘barely defend’ giving Elon Musk’s DOGE illegal access to government data by Sasha Rogelberg

Mark Zuckerberg says over 10 million people used Meta’s Muse—and demand was so high, he had to get Stripe to raise credit limits by Mia Osmonbekov

Over 1,000 analysts competed to pitch Goldman Sachs CEO David Solomon and execs their ideas for community impact—and top teams win $650K for charity by Emma Burleigh

CEO Daily is curated and edited by Joseph Abrams, Jason Ma, Claire Zillman, and Lee Clifford.

This is the web version of CEO Daily, a newsletter of must-read global insights from CEOs and industry leaders. Sign up to get it delivered free to your inbox.
About the Author
Diane Brady
By Diane BradyExecutive Editorial Director
LinkedIn icon

Diane Brady writes about the issues and leaders impacting the global business landscape. In addition to writing Fortune’s CEO Daily newsletter, she co-hosts the Leadership Next podcast, interviews newsmakers on stage at events worldwide and oversees the Fortune CEO Initiative. She previously worked at Forbes, McKinsey, Bloomberg Businessweek, the Wall Street Journal, and Maclean's. Her book Fraternity was named one of Amazon’s best books of 2012, and she also co-wrote Connecting the Dots with former Cisco CEO John Chambers.

See full bioRight Arrow Button Icon
Google source logo
Add Fortune on Google for similar content.

Latest in Newsletters


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Recommended For You

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.