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
BusinessAlphabet shares fall after key AI researchers depart and investors question AI returnsAlphabet's stock fell nearly 7% at the start of Monday trading amid investor concern over recent departures of prominent AI researchers and doubts about the returns on massive AI investments.2 min read
BusinessSpaceX announces bond sale as shares dip after IPO surgeSpaceX has announced its first issuance of unsecured bonds, aiming to raise roughly $20 billion to repay bridge financing tied to its recent IPO and for general corporate purposes.2 min read
BusinessSantander to Expand AI Access to All 185,000 Employees, Expects Over €200M Annual BenefitSantander plans to extend access to its AI tools from about 40,000 employees to its entire 185,000-strong workforce, expecting the technology to deliver more than €200 million in value this year.3 min read
