U S INTELLIGENCE
US senators call out big tech's new approach to poaching talent, products from smaller AI startups
President Joe Biden's administration and lawmakers from both parties have promoted stricter oversight of the tech industry recently. US antitrust authorities plan to investigate the roles of Microsoft, Nvidia, and OpenAI in the AI boom, with the Department of Justice probing Nvidia and the Federal Trade Commission scrutinising Microsoft and OpenAI partnerships.
Artificial Intelligence helped to find a vast source of the copper that AI needs to thrive
KoBold is pumping $2.3 billion into its first mine and is negotiating tricky partnerships with contractors and governments alike. It is relying on the U.S. government to finance a new railway to export the copper.
US Republican lawmakers concerned over Microsoft-G42 AI deal, letter says
Michael McCaul and John Moolenaar of the House Foreign Affairs and Select Committee on China request a briefing on Microsoft's $1.5 billion investment in G42, citing concerns about export controls, military and espionage, G42's Huawei ties, cyber espionage, intellectual property risks, and UAE-China relations in their July 10 letter to Jake Sullivan.
The Tyrant: What we know about production, plot, cast and characters of Disney+ Korean miniseries
Disney+ will debut "The Tyrant," a Korean espionage-revenge-drama miniseries, on August 14. Created by Park Hoon-jung, the series focuses on a virus theft that sparks a conflict between Korean and U.S. intelligence agencies.
TSMC Q2 revenue jumps on AI boost, handily beats market forecasts
Taiwan Semiconductor Manufacturing Co, whose customers include Apple and Nvidia, has benefited from the surge towards AI that has helped it weather the tapering off of pandemic-led demand and pushed TSMC's share price to a record high.
Egypt, US, Israel spy chiefs to attend Gaza truce talks in Doha
Negotiations to secure a ceasefire in the Gaza war will resume in Doha on Wednesday. The talks will see the participation of intelligence chiefs from Egypt, the United States, and Israel, according to Egypt's state-affiliated Al-Qahera News TV and sources. Egypt's security delegation, led by intelligence chief Abbas Kamel, aims to mediate between Hamas and Israel to reach a truce.
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AI startup funding more than doubles in Q2, Crunchbase data shows
Startup funding overall grew 16% sequentially to touch $79 billion in the last quarter, primarily driven by investments in AI, which became the largest sector for the first time, followed by healthcare and biotech. Outside of AI, cybersecurity company Wiz raised a billion-dollar in its latest funding round.
New Cuban radar site near US military base could aid China spying, think tank says
Cuba is constructing a new radar site near Santiago de Cuba, capable of monitoring U.S. military activities at Guantanamo Bay, according to satellite imagery analyzed by a Washington think tank. The facility, set east of Santiago de Cuba and due to be operational soon, could track signals up to 8,000 miles away. The development raises concerns about China's strategic interests, despite denials from Cuban officials. This site adds to suspicions of increased Chinese surveillance capabilities in Cuba, targeting U.S. military and space operations.
AI deals lift US venture capital funding to $55 billion in Q2, data shows
U.S. venture capital funding surged to $55.6 billion in Q2, driven by AI investments. Emerging VC fund managers faced pressure as large firms like Andreessen Horowitz led fundraising efforts.
AI coding startup Magic seeks $1.5-billion valuation in new funding round
Magic, a U.S. startup, is raising $200 million for AI software development without revenue. Investors are funding coding assistants like GitHub Copilot. Paris-based Poolside AI also trains large language models. Magic's unique design surpasses transformer models, focusing on long-context windows for data processing.
Echoes of dotcom bubble haunt AI-driven US stock market
AI enthusiasm, along with a robust economy and improved earnings, has driven the S&P 500 index to new highs this year, surging over 50% since October 2022. The Nasdaq Composite, heavily influenced by technology stocks, has soared more than 70% since the end of 2022. While several internet stocks such as Amazon survived and eventually thrived, others never recovered.
China says US targeting of AI not helpful to healthy development
Last month, the United States released draft regulations to prohibit or mandate notification of specific investments in artificial intelligence and other technology sectors in China that might pose a threat to US national security. "We strongly oppose these sanctions," said Chinese UN Ambassador Fu Cong.
As AI gains a workplace foothold, US trying to make sure workers don't get left behind
Bridging the digital equity gap through AI education is crucial. Marvin Venay stresses the importance of inclusive initiatives for overcoming barriers. Accessible internet and affordable technology are essential components for empowering individuals with AI knowledge and skills.
Sebi framework for finfluencers; Nazara's Freaks4U deal
The Security and Exchange Board of India (Sebi) has approved a regulatory framework for financial influencers. This and more today’s ETtech Top 5.
S&P Global announces insider Martina Cheung as CEO
S&P Global announced on Thursday that it has appointed Martina Cheung as CEO, effective Nov. 1. Cheung will succeed Douglas Peterson, who has been the chief executive since 2013. Cheung has been with S&P Global for 14 years and has held multiple leadership roles within the company.
US, Japan, South Korea vow strategic cooperation to boost security, economies
Commerce and trade ministers from the U.S., Japan, and South Korea agreed to cooperate on AI safety, export controls, clean energy, and semiconductor supply chains. U.S. Commerce Secretary Gina Raimondo emphasized the importance of collaboration for global security. Japanese Minister Ken Saito and South Korean Minister Ahn Duk-geun also attended the inaugural meeting, initiated at a Camp David summit. The ministers aim to strengthen supply chain resilience, particularly in semiconductors and critical minerals, and enhance cooperation in cybersecurity and technical standards to counter China's dominance in critical mineral supply chains.
Artificial intelligence firms lead Chinese shares higher
China's CSI AI Index jumped 3.7%, as domestic AI companies moved swiftly to attract users of OpenAI's technology. The blue-chip CSI300 index hit a four-month low on Tuesday. A US company intends to limit access to its application programming interface (API) in China and other nations. The API serves as a platform enabling developers to integrate its AI models into their products.
The other war: How Israel scours Gaza for clues about the hostages
All the while, at a "fusion cell" quietly formed in Israel last fall, U.S. and Israeli intelligence and military analysts share imagery from drones and satellites, along with communications intercepts and any other information that comes their way that might offer a hint to the hostages' locations.
US election officials split on AI disclosure rules for political ads
FEC officials are divided over whether to require disclosure of AI-generated content in political ads. FCC Chair Rosenworcel supports the proposal, citing concerns about misleading deep fakes. Vice Chair Weintraub agrees, emphasizing the need for transparency. Chair Cooksey opposes, arguing it would cause chaos for campaigns.
Banks say growing reliance on Big Tech for AI carries new risks
European banking executives express concerns about banks' increasing dependence on big U.S. tech firms due to the boom in artificial intelligence, driven by the popularity of AI applications like OpenAI's ChatGPT for fraud detection and money-laundering.
US intelligence agencies' embrace of generative AI is at once wary and urgent
A Silicon Valley firm used generative AI in the Sable Spear operation to analyze Chinese fentanyl trafficking data, surpassing human analysis. It predicted Russia's invasion of Ukraine and alerted government customers to North Korean missile launches. U.S. intelligence agencies are exploring AI for geospatial intel and assessing AI missions.
Wallet recovery firms buzz as locked-out crypto investors panic in bitcoin boom
Losing access to a crypto wallet is a well-known problem. Investors forgetting their intricate passwords is a primary reason, but loss of access to two-factor authentication devices, unexpected shutdowns of cryptocurrency exchanges and cyberattacks are also common
Microsoft asks hundreds of China staff to relocate as tensions with US simmer
Amid strained US-China relations, Microsoft asks 700-800 Chinese engineers in its China-based cloud and AI operations to consider relocating outside the country, offering transfers to the US, Ireland, Australia, and New Zealand. This move follows US scrutiny on Chinese imports. Microsoft reaffirms commitment to China while navigating regulatory challenges.
AI-controlled F-16 fighter jet completes successful test flight with Air Force Secretary onboard
An experimental AI-controlled F-16 fighter jet completed a successful test flight with Air Force Secretary Frank Kendall onboard, marking a milestone in military aviation. The U.S. Air Force aims to deploy over 1,000 unmanned warplanes by 2028, highlighting its aggressive pursuit of AI integration. Despite concerns about autonomous decision-making, Kendall emphasized the importance of AI for security. The shift towards AI-enabled aircraft offers enhanced security and strategic advantages, driven by factors such as cost efficiency and the vulnerability of manned fighter jets to electronic warfare.
These 5 equity mutual funds lost more than 5% in April
There were around 507 equity mutual funds in the market. Around 75 schemes offered negative returns in April, according to the data by ACE MF. Here are the equity schemes that lost more than 5% in the month.
US intelligence believes Putin probably didn't order Navalny to be killed: Report
U.S. intel doubts Putin ordered Navalny's killing despite Kremlin denial. Putin proposed a prisoner exchange with the West. CIA shared the findings, taking into account Navalny's 2020 poisoning. Volkov criticized the U.S. conclusion.
Northrop Grumman working with Elon Musk's SpaceX on US spy satellite system
Northrop Grumman and SpaceX, led by Elon Musk, work on a spy satellite project enhancing US intelligence with high-res Earth imagery, involving commercial internet satellites, optical tech, and relay satellites.
AI is spying on food we throw away
It's part of an emerging industry that's trying to cash in on a senseless human problem: The huge amount of uneaten food that goes from supermarkets and restaurants to the dumpster. Much of that, if it's not composted, ends up in landfills where it decays, sending potent planet-warming greenhouse gases into the atmosphere. Enter a new business opportunity. A company called Winnow has developed the AI tool that spies on restaurant garbage. Another, company, Afresh, digests supermarket data to look for wasteful mismatches between what a store is stocking, and what people are buying.
'Duty to warn' guided US advance warning of the Moscow attack. Adversaries don't always listen
The U.S. has shared intelligence warnings to Russia, including the recent attack at a concert hall in Moscow, under the "duty to warn" tenet of the U.S. intelligence community. This duty is aimed at sharing knowledge of a dire threat if conditions allow, whether it's allies, adversaries, or somewhere in between. There's little sign that Russia acted to head off Friday's attack, which killed more than 130 people.
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