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Elon Musk's xAI Powers Up with $6 Billion Funding Boost

Elon Musk's AI company, xAI, has secured $6 billion in fresh funding, propelling the generative AI contender further into the race against established players like OpenAI and Anthropic, according to a report by TechCrunch. The investment, revealed in a US Securities and Exchange Commission filing, involved at least

SMIC Soars on AI Boom and China's Chip Localization Push

Shares of Semiconductor Manufacturing International Corp. (SMIC), China's leading chipmaker, surged on Monday amid growing investor enthusiasm for China's AI development and the country's accelerated efforts to build its own semiconductor industry, as reported by the Wall Street Journal. SMIC's Shanghai-listed shares

Microsoft Diversifies Microsoft 365 Copilot AI Power Beyond OpenAI

Microsoft is diversifying the AI models behind its Microsoft 365 Copilot, incorporating internal and third-party options to reduce its reliance on OpenAI, Reuters reported on Monday, citing sources familiar with the matter. The move is intended to manage costs and improve speed for enterprise users. This move signifies a shift
Microsoft Diversifies Microsoft 365 Copilot AI Power Beyond OpenAI

OpenAI's o3 Model Shows AI Scaling Continues, But at a Cost

OpenAI's new o3 model is demonstrating that AI scaling is continuing to progress, but it's also revealing that the pursuit of advanced capabilities comes with significantly higher computational costs, as reported by TechCrunch. The o3 model, utilizing a new method called "test-time scaling," significantly

Japan's Chip Subsidies Spark Controversy Over Funding Source

The Japanese government's substantial financial support for the development of advanced chips by Rapidus, a key player in Tokyo's ambitions to revive domestic semiconductor production, is facing criticism from opposition lawmakers, who allege budgetary "misappropriation" and a lack of transparency. According to a report

Allegro Subsidiary Sues Google for $567 Million Over Anti-Competitive Practices

Ceneo, a subsidiary of Polish e-commerce platform Allegro, has filed a lawsuit against Google owner Alphabet, Google Ireland, and Google LLC, seeking 2.33 billion zlotys ($567.6 million) in damages, according to a report by Reuters. The lawsuit, filed on Monday, alleges that Google's practice of favoring

Apple Nears Unprecedented $4 Trillion Valuation on AI Bet

Apple is on the verge of achieving an historic $4 trillion market valuation, driven by investor enthusiasm for the company's progress in artificial intelligence, as reported by Reuters. The technology giant has surged ahead of Nvidia and Microsoft in the race to this monumental milestone, fueled by a

Meta Doubles Down on AI, Betting Big on Generative AI and Enterprise Software

Meta, under the leadership of Mark Zuckerberg, is aggressively pursuing an AI-first strategy, investing billions of dollars in research and development to integrate AI into its core products and services, as reported by CNBC. This strategic shift, announced in April 2024, initially caused a dip in Meta's stock

Prosus Acquires Despegar for $1.7 Billion, Expanding its Latin American Footprint

Prosus, the technology conglomerate controlled by Naspers, is acquiring Despegar, a leading online travel agency in Latin America, for $1.7 billion, according to a statement released by Prosus today, as reported by TechCrunch. The deal, which has been approved by Despegar's board of directors, is expected to

Former Huawei 'Genius Youth' Recruit's Start-Up Mass Produces Humanoid Robots

A two-year-old start-up founded by a former Huawei Technologies recruit has begun mass production of its humanoid robots, marking a significant milestone in China's rapidly developing AI robotics sector, as reported by the South China Morning Post. Shanghai-based Agibot, founded by Peng Zhihui, has commenced commercial production of