The meeting also explored ways to strengthen cooperation in emerging technologies, entrepreneurship, and governance, according to India‘s foreign ministry. Modi’s visit to the United States has brought key discussions on commercial space activities and technological collaboration between the two countries.
Starlink’s potential entry into the Indian market was reportedly a key topic of discussion. The satellite internet provider has long sought to operate in India but has faced regulatory challenges and opposition from local competitors, including billionaire Mukesh Ambani’s company.
The Indian government has supported Musk’s stance that satellite spectrum should be assigned rather than auctioned, but Starlink’s licence application remains under review.
India’s decision on Starlink could reshape the country’s satellite internet sector and influence its position in the global space race.
SpaceX‘s dominance in satellite launches and internet services has already impacted global markets, and its expansion into India would be a significant step in its international growth. Musk continues to act as a crucial link between world leaders and SpaceX, which plays a key role in the Western space industry.
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Meta has announced a new programme allowing rival classified ad providers to list their adverts on Facebook Marketplace, following a €797 million EU antitrust fine for unfair competition.
The European Commission ruled in November that Meta had given its own service an unfair advantage by tying Marketplace to Facebook and imposing restrictive trading conditions on competitors.
The company has challenged the fine in court but says the new initiative, called the Facebook Marketplace Partner Program, is a response to EU competition concerns.
The programme was tested last month in Germany, France, and the United States in partnership with eBay. Under the scheme, third-party online classified ad services can display their listings on Facebook Marketplace alongside user-generated listings.
Meta maintains that the EU’s decision unfairly targets US companies, with CEO Mark Zuckerberg previously describing EU actions as akin to a “tariff regime.”
The European Commission is now reviewing whether Meta has fully complied with the ruling. If found lacking, the company could face further scrutiny and potential penalties. The move marks a significant shift in how Marketplace operates, potentially reshaping competition in the online classified ads sector.
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US electric utilities are significantly increasing their capital investment plans to expand power generation and strengthen the grid as AI and cloud computing drive up electricity consumption.
Companies such as PPL Corp, Dominion, and Exelon have revised their spending plans upward, with PPL announcing a nearly 40% increase to $20 billion through 2028.
The surge in demand is largely fuelled by data centres, which are now being built at an unprecedented scale, reaching capacities of up to 1 gigawatt per site.
Utility executives have dismissed concerns that market disruptions, such as Chinese AI startup DeepSeek’s recent emergence, would weaken demand from major tech firms.
Instead, companies including American Electric Power (AEP) and Duke Energy have received assurances from technology customers that their expansion plans remain unchanged. AEP is considering adding $10 billion to its existing $54 billion capital plan, while Duke is increasing its five-year spending by $10 billion.
Rising demand for electricity is expected to reach record levels in the US by 2026, driven not only by data centres but also by manufacturing and electrification in sectors like transportation.
While utilities race to expand power supplies, regulatory approval remains a challenge, and increased investment could lead to higher electricity costs for households and businesses.
Some utilities are also exploring whether data centres should bear a greater share of the costs associated with grid expansion.
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AI is set to revolutionise wealth management by lowering the barriers to entry for new players, according to a Microsoft executive. Martin Moeller, head of AI for financial services at Microsoft, highlighted that AI’s ability to process vast amounts of data could allow small teams or even individuals to offer services that traditionally required entire teams at banks. This shift is expected to reshape the competitive landscape, much like the internet did decades ago.
AI is already being used in the financial sector, with Swedish payment provider Klarna employing AI from OpenAI to handle tasks previously carried out by 700 employees. UBS, the world’s largest asset manager, also sees significant potential in AI to boost productivity and ease job functions. AI is expected to reduce operational costs for startups and allow banks that have not been involved in wealth management to enter the market with minimal investment.
Customer behaviour is also changing, with younger entrepreneurs increasingly managing their own investments. In response, banks are using AI to enable customers to consolidate financial information independently. While AI currently does not provide specific investment advice, ‘agentic AI’ is expected to be developed in the next two years, which will make independent decisions without human input, further transforming the industry.
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Alibaba has announced a new partnership with Apple to support the development of AI services for iPhones in China, a move that aims to help Apple counter declining smartphone sales in its crucial market. The collaboration is seen as a significant win for Alibaba, which is gaining ground in China’s competitive AI industry, dominated by local players like DeepSeek. This deal comes after months of speculation regarding Apple’s AI strategy in the region, as the tech giant held discussions with other Chinese companies such as Baidu, ByteDance, and Tencent.
While the specifics of the partnership are still unclear, Alibaba’s chairman Tsai noted that Apple chose their AI technology to power its phones in China. The two companies have already submitted necessary regulatory materials to Chinese authorities, as consumer-facing AI products in the country require approval. Alibaba’s stock saw a notable rise following the announcement, reflecting investor optimism about the deal.
The timing of this collaboration is crucial for Apple, which has faced challenges in China, including falling iPhone sales and increased competition from domestic rivals like Huawei. Analysts suggest that Apple’s struggles in the region are partly due to the lack of advanced AI features in its phones, a growing demand in the Chinese market. Apple’s sales in Greater China dropped significantly in late 2024, and the company lost its top position in the market to local players like Vivo and Huawei.
For Alibaba, the partnership underscores its growing strength in AI, with its stock price surging in 2025. The company’s Qwen 2.5 AI model, which surpassed the capabilities of competitors, has become a focal point of its recent success. As Apple seeks to re-establish its presence in China, the effectiveness of this AI collaboration will likely play a critical role in its future in the market.
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The rise of DeepSeek’s AI models is offering Chinese chipmakers like Huawei a better chance to compete in the domestic market against the powerful processors from US companies like Nvidia. For years, Huawei and other Chinese manufacturers have struggled to match Nvidia’s high-end chips, which are essential for training AI models. However, DeepSeek’s focus on ‘inference’ rather than raw processing power has led analysts to believe that it could help close the gap between Chinese-made processors and their US counterparts. Inference refers to the phase where AI models use trained data to make predictions, a process less reliant on heavy computational resources.
Several Chinese AI chipmakers, including Huawei, EnFlame, and Moore Threads, have recently stated that their products will support DeepSeek models, although few details have been disclosed. Industry executives predict that DeepSeek’s open-source nature and its low fees will drive the adoption of AI, helping Chinese companies bypass US export restrictions on advanced chips. In fact, Chinese chips like Huawei’s Ascend 910B have already been recognised as better suited for inference tasks, which require less computational power than training.
Despite these developments, Nvidia still dominates the global AI chip market. Analysts point out that while Chinese chips are cost-effective for inference tasks, Nvidia’s superior chips remain the preferred choice even for inference. Nvidia’s CUDA platform, which provides developers with a robust software environment, remains a key advantage, and Chinese companies like Huawei have struggled to convince developers to abandon CUDA in favour of their platforms, such as Huawei’s Compute Architecture for Neural Networks (CANN). The software performance of Chinese AI chips continues to lag behind, making it challenging for them to directly challenge Nvidia’s dominance.
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Italy has rejected claims that Israeli spyware company Paragon ended its collaboration with Rome following allegations that its technology had been misused to target journalists and activists instead of criminals. Cabinet undersecretary for intelligence matters Alfredo Mantovano stated that Paragon had never suspended its services or terminated its contract with the Italian government. Minister for parliamentary relations Luca Ciriani also defended Italy‘s intelligence services, insisting they had acted within the law and had not used the software against protected individuals, including journalists.
Concerns arose after Meta’s WhatsApp revealed that Paragon’s spyware had been used to target multiple individuals, including a journalist and a human rights activist critical of Prime Minister Giorgia Meloni. Italy acknowledged that seven mobile phone users had been affected but denied any government involvement, calling for an investigation. Reports from The Guardian and Haaretz suggested Paragon had severed ties with Rome, doubting the government’s denial of wrongdoing.
Israel-based Paragon and its owner, Florida-based AE Industrial Partners, have not responded to requests for comment. Ciriani assured parliament that Italy’s intelligence services continue to operate fully against national security threats. He also called for the judiciary to investigate the alleged hacking of journalists and activists, stating that Italian intelligence agencies were ready to assist in uncovering the truth.
Alphabet CEO Sundar Pichai has praised the work of Chinese startup DeepSeek, calling it an example of how AI is a truly global field. Speaking at the World Governments Summit in Dubai, he noted that innovation in AI is happening across multiple regions and that competition will continue to grow.
Pichai reaffirmed Alphabet’s ambition to remain a leading force in AI but acknowledged that other players would also shape the industry. The rapid development of AI technology has led to increased competition between major tech companies and emerging startups worldwide.
The remarks highlight the expanding global landscape of AI, with companies from China, the United States, and other regions pushing forward advancements in the field. Pichai’s comments suggest that AI leadership will be defined by a diverse range of contributors rather than a single dominant player.
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Elon Musk announced on Thursday that his AI chatbot, Grok 3, is nearing completion and will be released in the next week or two. In a video call at the World Governments Summit in Dubai, Musk stated that Grok 3 exhibits powerful reasoning capabilities, outperforming other AI models in tests conducted so far. This new AI is being developed through Musk’s company, xAI, which he founded to rival OpenAI and Google.
Musk, also a co-founder of OpenAI, has been outspoken in his criticism of the AI startup. Recently, a consortium led by Musk made a $97.4 billion offer to acquire OpenAI’s nonprofit assets, a move that comes amid Musk’s ongoing legal battle with OpenAI. He is challenging the company’s decision to transition to a for-profit model, arguing that it undermines its original nonprofit mission.
In addition to discussing AI, Musk shared his thoughts on reducing US government spending, suggesting that $1 trillion could be saved by cutting inefficiencies. He also spoke on international matters, advising the US to be less involved in other countries’ affairs. Musk’s comments followed a partnership announcement with UAE AI Minister Omar Al Olama on a futuristic underground transport system called the “Dubai Loop.”
Musk’s remarks at the summit highlighted his wide-ranging influence, not only in technology but also in global political and economic discussions.
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China’s chipmaking equipment purchases are expected to decline in 2025, following three years of growth, due to overcapacity and increasing restrictions from US sanctions. After purchasing $41 billion in equipment in 2024, which accounted for 40% of global sales, China’s spending is predicted to fall by 6% to $38 billion this year, marking the first decline since 2021. The drop in demand is attributed to reduced purchases in response to export controls and an excess of manufacturing capacity.
Despite these challenges, China has been a key driver for the global wafer fabrication equipment market over the past few years, even as other sectors saw downturns. Much of China’s equipment buying has been linked to stockpiling efforts in response to US sanctions aimed at limiting China’s ability to produce advanced chips, particularly for military use. Chinese firms, like SMIC and Huawei, have continued to advance in chip production, although at a higher cost and with more effort, while also focusing on expanding in the mature-node chip market.
In addition to growing its domestic production capabilities, China’s leading equipment manufacturers, such as Naura Technology Group and AMEC, are expanding internationally. However, the country still faces significant challenges in self-sufficiency, particularly in areas like lithography systems, testing, and assembly tools. While China’s domestic companies have made strides in equipment sales, they still rely heavily on foreign suppliers for advanced technology in these areas.
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