The UK and US have agreed on a $42 billion tech pact, with Google announcing a £5 billion investment in the UK. This includes a new data centre in Waltham Cross, north of London, and continued support for AI research through its DeepMind project. Cloud computing firm CoreWeave secured £1.5 billion in backing to fund energy-efficient data centres with Scottish firm DataVita, bringing its total UK investment to £2.5 billion. Other firms, including Salesforce, Scale AI, BlackRock, Oracle, Amazon Web Services and AI Pathfinder, also made commitments with investments ranging from hundreds of millions to several billion pounds.
My Instant AI, a prepaid platform offering universal access to leading AI models, has launched CHARM, a web-based development environment. This tool aims to empower creators worldwide by removing barriers and enabling them to develop with AI.
Hong Kong is emerging as a potential co-host of China's proposed World Artificial Intelligence Cooperation Organisation, potentially challenging Beijing's preference for Shanghai. Alfons Futterer and Zhonghua Sheng argue that Hong Kong's legal system and independent judiciary could reassure sceptics and invite broader participation. In contrast, Shanghai brings proven AI infrastructure, but Hong Kong's unique blend of resources could make it an attractive alternative.
Invisible Technologies, a 10-year-old AI startup, has raised $100 million in funding, valuing the company at over $2 billion. This deal highlights Silicon Valley investors' interest in AI-related technologies, a key component of the AI boom.
Laura Desiccio, CEO of Smartly, is redefining creativity with AI at the company. She created Advance 2025, a global forum for industry leaders from Meta, Google, TikTok, and Unilever to debate the future of creativity, technology, and consumer connection. Desiccio's leadership mantra is "Get sh*t done," emphasizing the importance of creating meaning and making core bets on oneself, team, and mission. She believes AI is the most disruptive shift in her career, having worked through previous technological revolutions.
OpenAI, Nscale and Nvidia have partnered to launch a UK version of Stargate, a massive AI infrastructure scheme. The first data centers will be built on the site of a former coal power station in Northumberland, near Blyth. The UK government has designated this site as an AI Growth Zone, which could lead to the creation of 5,000 new jobs in the region. The project will also link to nearby Newcastle University and a business park, further solidifying its potential for economic growth.
Ozak AI has partnered with Pyth Network to deliver real-time market data across over 100 blockchains. The partnership aims to enhance the speed and accuracy of blockchain transactions, benefiting a wide range of industries and applications.
People Inc. is prioritizing traffic and revenue diversification to prepare for the AI era by focusing on premium advertising opportunities. The company's contextual ad targeting product, D/Cipher, continues to grow in revenue, offsetting declines in other areas. People Inc. is working on creating highly valuable experiences and advertising opportunities to stay ahead of the AI-driven market shift.
Tencent and Baidu, Chinese internet firms, have sold a record amount of dim sum bonds in Hong Kong to secure cheap financing for their artificial intelligence ambitions. The companies raised a record amount of funds in the dim sum bond market, which is a type of short-term debt financing. The bonds were sold at a low interest rate, indicating that the companies are seeking cheap funding to fuel their growth in AI technology.