Nvidia is in talks to invest up to $10bn in Anthropic’s initial public offering, which seeks as much as $100bn at a valuation near $2trn and would be the largest listing in history. Three days earlier it returned as an investor in Mistral’s EUR 3bn round, the largest ever raised by a European technology company […] This story continues at The Next Web
A slow rollout will disappoint investors. A fast one risks undermining the industry’s own foundations. But managed carefully, this is a technology that could benefit us all
"A common theme of the targeting was Ukraine and military drone technology providers and supply chains," Anthropic wrote in a report on countering AI misuse.
Uber Freight, Ceva Logistics, and Fairlife experience cyberattacks, spotlighting AI's dual role as both risk and remedy in supply chains.
Resilient start to third quarter comes as surging oil price reignites inflation fears
Anthropic has built a model of how AI might reshape the US economy by 2030. Its most extreme case describes an economy roughly a third larger than it would otherwise be. That same case carries knowledge-work unemployment near 18 percent. The company published the model on 10 September as an interactive scenario explorer, based on […] This story continues at The Next Web
Shares in Shanghai Enflame Technology closed 179% above their offer price on their first day of trading on Shanghai’s Star Market on Friday. The Tencent-backed AI chipmaker had raised about 6.12bn yuan ($911m) in its initial public offering, Bloomberg reported. The stock opened at 410 yuan, against an IPO price of 142.18 yuan. It rose […] This story continues at The Next Web
First Thing | Commemoration ceremonies to be held around the world for the nearly 3,000 killed in 2001 terror attack on US. Plus, JD Vance sets out his stall as heir to Donald TrumpGood morning. It is a sombre day for the nation as people gather to mourn and remember the nearly 3,000 victims of the attacks on September 11 2001, when 19 al-Qaida hijackers seized control of four airliners, slamming two of the planes into the World Trade Center, one into the Pentagon in Arlington, Virginia, and the fourth into a field in western Pennsylvania.We have comprehensive coverage of the anniversary, which will be marked by ceremonies around the world. There are stories of the day from people who were there. Stanley Praimnath and Brian Clark were two of only four individuals known to have survived above the impact zone in the south tower, and they spoke to our Washington bureau chief David Smith. Anna Sweeney Rossman was five when her mother, Amy Sweeney, a flight attendant, was killed onboard American Airlines flight 11, and she spoke to Ramon Antonio Vargas about how the events of that day have cast a shadow on her life.Donald Trump’s promise of a $5,000 “Trump dividend” for every US citizen if Republicans retain control of the US Congress in November’s midterm elections has sparked incredulity and accusations of bribery.With his approval rating at a historic low, Trump brought down the curtain on the Republicans’ first ever midterm convention by pleading with supporters to do him “the biggest favor” and “pretend” they are voting for him in November’s US elections.JD Vance, meanwhile, made a clear pitch that he should be the heir to Trump with a blistering speech that featured exaggerated claims of success, criticism of the Democrats as “lunatics” and an aggressive dismissal of a protester waving a Mexican flag.A US appeals court has rejected Trump’s attempt to impose sweeping restrictions on mail-in voting before November’s high-stakes midterm elections, dealing a fresh blow to the president’s attempted crackdown.Anthropic has detailed efforts by bad actors to misuse its AI for the production of bioweapons. More researchers and staff members at the AI startup have posted their own dire warnings about the safety of the technology, but Elon Musk called the chorus of concerns a “setup” and a “psyop”.California has adopted what Gavin Newsom described as “nation-leading” legislation that bans addictive social media features for young users, regulates companion chatbots and implements new safeguards around AI.Sales of previously occupied US homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices. Continue reading...
Gross domestic product (GDP) increased by 0.4% in July, following growth of 0.3% in June, official figures showed.
Welcome boost for chancellor with unexpected rise put down to rapid growth of AI in services sector outweighing Iran war fallout The UK economy grew in July as the rapid expansion of AI appeared to outweigh the economic damage from the Iran war, in a welcome boost for John Healey.Figures from the Office for National Statistics (ONS) showed a surprise 0.4% increase in gross domestic product (GDP), compared with 0.3% growth in June. City economists had forecast zero growth. Continue reading...
Tencent-backed Enflame is riding China's AI chip boom as US export curbs accelerate Beijing's semiconductor ambitions.
Current debates about AI and the labor market overwhelmingly focus on job losses. If you’re a student of…
Increased use of AI helped the UK economy grow by 0.4 per cent in July, official figures show, in an unexpected boost for Andy Burnham.
Anthropic has published an economic model projecting how AI might reshape the US economy by 2030, and its three scenarios range from barely perceptible to a boom with no historical precedent, including one in which GDP grows 15% a year while nearly a fifth of office workers are out of a job.
Hwang Ki-yeon, chairman and CEO of the Export-Import Bank of Korea (Korea Eximbank), held a series of high-level meetings with officials from 10 African countries in Seoul to discuss development projects and ways to support Korean companies seeking to enter the continent's growing markets, the bank said Friday. The meetings were held on the sidelines of the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference, which brought together government delegations from 45 African countries. Hwang met with the vice president of Botswana and finance ministers from Tanzania, Kenya, Rwanda, Ghana, Egypt, Uganda, Zimbabwe, Lesotho and Sierra Leone on Wednesday and Thursday. The talks covered each country's development needs, potential projects financed through the Economic Development Cooperation Fund (EDCF) and ways to facilitate Korean companies' participation in development projects, according to Korea Eximbank. One of the projects discussed was the construction of an artificial intelligence (AI) and digital technology training institute in Tanzania. The project, approved in August
Chinese AI chipmaker Enflame, an Nvidia rival and one of China's "four little dragons," made its Shanghai market debut.
Korea's exports surged nearly 83 percent year-on-year in the first 10 days of September, customs data showed Friday, driven by robust semiconductor shipments amid the global artificial intelligence (AI) boom. Outbound shipments reached $35 billion in the Sept. 1-10 period, according to the numbers released by the Korea Customs Service. The customs agency said exports reached the highest level for the first 10 days of September on record. Imports rose 20.7 percent year-on-year to $24.6 billion over the cited period, resulting in a trade surplus of $10.4 billion. Semiconductors led the overall gains, soaring 270 percent to $16.5 billion, also setting a fresh high for the period. Outbound shipments of petroleum products jumped 57 percent to $1.87 billion, while automobile exports increased 10 percent to $1.7 billion. Exports of ships and steel products also shot up 66.8 percent and 10.3 percent, respectively, the report showed. By destination, exports to China doubled to $7.95 billion, while those to the United States increased 137.5 percent to $7 billion. The country's total exports from Jan.
BNP Paribas expects the years-long rally in corporate bonds to break as hyperscalers flood the market, forecasting some $400B of their bond sales next year and a record $3.7T of net fixed income supply. The ECB reached a similar conclusion in August, finding US tech now accounts for close to a tenth of new euro […] This story continues at The Next Web
Motive has secured more than $1.3bn in growth financing from General Catalyst’s Customer Value Fund, the company announced on Thursday. Because of the financing, Motive has withdrawn its previously filed S-1 registration statement for an initial public offering. The San Francisco company describes itself as “the AI platform for physical operations”. Its software helps companies […] This story continues at The Next Web
AI inference company Baseten has acquired Blaxel, a startup that builds secure execution environments, or sandboxes, for AI agents. Baseten co-founder and chief technology officer Amir Haghighat told Axios Pro about the deal, which the outlet reported first on Thursday. Baseten later announced the acquisition. Axios describes Blaxel as a San Francisco startup. The announcement […] This story continues at The Next Web
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The leader of the United Arab Emirates was on a state visit to Germany on Thursday that resulted in a promise to invest 40 billion euros ($46.5 billion) into Europe's top economy. The money would partly pay for data centres with a capacity of up to one gigawatt, Berlin said, and an "Investment Council" would be set up to boost business links between the two nations. The Gulf is a key source of capital for the AI boom as oil-rich states in the region seek to invest their energy wealth.
"Bankruptcy cannot become the new land grab for AI.”
A key tech-stock volatility metric options traders have been watching all year is reversing.
Salesforce completed its acquisition of Fin on Thursday, bringing the customer service AI company formerly known as Intercom into its business. The same week, Business Insider’s Katie Roof and Ben Bergman reported that Salesforce has held talks to buy a second AI startup, Listen Labs, for around $2bn. Business Insider said the Listen Labs talks […] This story continues at The Next Web
Fitch Ratings said the US would plunge into a recession and the world economy would stagnate if AI stocks fell by 35% over a six-month period.