BusinessMemory-chip shortage drives Micron’s profits and stock surgeA global shortage of memory chips, intensified by growing demand from AI applications, has lifted Micron Technology’s revenue and share price.2 min read
BusinessL'Oréal supplies its product data directly to OpenAI for ChatGPT integrationL'Oréal has entered a foundational partnership with OpenAI that lets the cosmetics group provide up-to-date product information directly to the models that power ChatGPT.2 min read
BusinessSoftBank CEO Son Masayoshi Says AI Is Just Beginning, Pushes for Robot Mass Production and Data CentersAt SoftBank's annual shareholders' meeting, founder and CEO Son Masayoshi argued that artificial intelligence is in its early stages and called suggestions of an AI bubble an "insult".2 min read
BusinessAbu Dhabi-backed AIQ targets US and other overseas oil markets with ADNOC-tested AI toolsAIQ, a joint venture between ADNOC and Presight (part of G42), plans to market AI systems developed over six years in Abu Dhabi to oil and gas firms abroad, with the United States as a top priority.2 min read
BusinessMeta launches affordable, display-free 'Meta Glasses' with Meta AIMeta introduced a new line of wearable eyewear developed with EssilorLuxottica that does not include a visual display but integrates camera, microphone, speakers and a button to activate Meta AI.2 min read
Business4iG CEO Discusses Energy and Infrastructure Investments with UAE Leaders in Abu Dhabi4iG Group Chairman-CEO Jászai Gellért held talks in Abu Dhabi with senior figures from the United Arab Emirates' energy and development sector about potential investments in Central and Eastern Europe and the Western Balkans.2 min read
BusinessAbu Dhabi’s MGX raises about $50 billion for AI investmentsMGX, an Abu Dhabi-based investment vehicle launched in 2024, has raised roughly $50 billion from regional sovereign wealth funds and international investors to back artificial intelligence ventures.1 min read
BusinessAI subscription economics: labs struggle to turn powerful models into profitA SemiAnalysis stress test shows major AI monthly subscriptions can cost far more in compute than the subscription revenue covers: a $200/month ChatGPT Pro user can consume roughly $14,000 of compute at API rates, while Anthropic’s $200 Claude Max can run near $8,000.3 min read
BusinessOracle cuts 21,000 jobs as AI optimisation reshapes its workforceOracle reduced its headcount by about 21,000 over the past year, falling from 162,000 to 141,000 employees by the end of May.2 min read
BusinessHaloBraid launches braiding-assistant robot, raises $7M seed roundHaloBraid, a robotics startup founded by Yinka Ogunbiyi, unveiled a hair-braiding device this week that assists professional stylists and is planned to ship later this year.3 min read
BusinessOpenAI scales ad business globally aiming for $100 billion in revenueOpenAI is rapidly expanding its advertising operations worldwide as it seeks to generate $100 billion in revenue by the end of the decade.3 min read
BusinessMicron to supply memory and storage to Anthropic and joined its latest funding roundMicron Technology has agreed to supply memory and storage devices to Anthropic and took part as a strategic investor in the AI developer’s most recent financing round as it prepares for an IPO.2 min read
