Cybersecurity

Europe’s tech giants push for sovereign fund

More than 90 European technology companies and lobby groups, including Airbus and Dassault Systèmes, have called on European Commission President Ursula von der Leyen to establish a sovereign infrastructure fund.

In an open letter dated 14 March, they emphasised the urgent need for Europe to strengthen its strategic autonomy in critical digital infrastructure, from AI frameworks to semiconductor manufacturing.

The letter warns that Europe’s reliance on foreign technology creates security risks and weakens economic growth. It highlights the importance of public investment, particularly in capital-intensive sectors like quantum computing and microchips. The signatories also suggest a ‘buy European’ policy in government procurement to boost demand and encourage local businesses to invest.

Prominent supporters of the initiative include French cloud provider OVH Cloud, the European Software Institute, and the German AI Association. The appeal also reached EU tech chief Henna Virkkunen, as Europe faces increasing pressure to compete with major US and Asian technology powers.

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Thailand approves millions for data centres

Thailand has approved investments worth 90.9 billion baht ($2.7 billion) in data centres and cloud services, further boosting its growing tech sector. The newly approved projects include data centres by China’s Beijing Haoyang Cloud&Data Technology, Singapore-based Empyrion Digital, and Thailand’s GSA Data Center 02, according to the country’s investment board.

Among these, Beijing Haoyang plans to build a 300-megawatt data centre valued at 72.7 billion baht, while GSA Data Center 02 is investing 13.5 billion baht in a 35-megawatt facility.

The rapid rise of AI has fuelled demand for data infrastructure across Southeast Asia, making Thailand an attractive hub for investment. In January, TikTok’s parent company, Bytedance, announced plans to establish a data hosting service in Thailand worth 126.8 billion baht.

It follows significant investments from tech giants such as Google, which pledged $1 billion last year, and Amazon Web Services, which committed $5 billion over 15 years.

Microsoft has also revealed plans to open its first regional data centre in Thailand, reinforcing the country’s status as a growing digital hub in the region. With an increasing number of global technology firms choosing Thailand for data operations, the country is set to play a key role in Southeast Asia’s evolving digital economy.

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China announces mandatory AI labelling requirements

Chinese authorities have announced new regulations requiring AI-generated content to be clearly labelled, with the rules set to take effect on 1 September 2025. Officials said the move aims to ensure transparency and support the ‘healthy development’ of AI.

The decision follows global discussions on the risks associated with AI-generated media, including misinformation and deepfakes.

By mandating labelling, China seeks to enhance accountability and distinguish AI-created content from human-generated material.

The new rules reflect the government’s ongoing efforts to regulate emerging technologies while maintaining control over digital information.

With AI playing an increasing role in content creation, policymakers worldwide are considering similar measures.

China’s regulations are expected to influence international approaches to AI governance as other nations evaluate their own strategies for handling AI-generated content.

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Chinese hedge funds boost AI for competitive edge

China’s hedge fund industry is undergoing a transformative shift, spurred by High-Flyer’s integration of AI in its trading strategies. The multi-billion-dollar fund not only uses AI to enhance its portfolio but also created DeepSeek, a game-changing LLM that has disrupted the dominance of Western AI firms like those in Silicon Valley.

The breakthrough has ignited an AI arms race among Chinese asset managers, including firms like Baiont Quant, Wizard Quant, and Mingshi Investment Management, as they rush to incorporate AI into their investment workflows.

AI-powered trading has gained momentum, with many hedge funds now using AI to process market data and generate trading signals based on investor risk profiles. As competition for “alpha” (outperformance) intensifies, the demand for AI talent is surging.

Companies like Wizard Quant and Mingshi are actively recruiting top AI engineers, and even mutual funds, such as China Merchants Fund, have adopted DeepSeek to boost their efficiency. The open-source model has democratised access to AI, lowering the entry barrier for smaller Chinese funds, which had previously been unable to compete with their Western counterparts due to high costs.

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China claims quantum supremacy with Zuchongzhi 3.0 chip

Chinese researchers have developed the Zuchongzhi 3.0, a quantum processor 1 quadrillion times faster than the world’s best supercomputers. The 105-qubit chip, created at the University of Science and Technology of China, achieved impressive results, completing a quantum task in mere seconds—1 million times faster than Google’s Sycamore chip.

A breakthrough like this marks a major step forward in quantum computing, especially with its enhancements in coherence time and quantum error correction. The processor’s transmon qubits, made from materials like tantalum and niobium, also show significant improvements in gate fidelity, leading to more accurate computations.

Despite these advancements, experts note that classical computing methods could still close the gap, as seen in past quantum supremacy claims.

Zuchongzhi 3.0’s exceptional performance paves the way for more practical quantum computing applications, promising a new era of solving complex real-world challenges. The progress made in quantum gate fidelity and reduced noise sensitivity places China’s quantum processing technology at the forefront of global developments.

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Intel appoints new CEO to compete in AI chip market

Intel has appointed tech industry veteran Lip-Bu Tan as its chief executive, aiming to revitalise the struggling chipmaker as it falls behind in the AI race.

Tan, set to take over next week, told employees that overcoming Intel’s challenges would not be easy but reaffirmed his commitment to an engineering-first approach.

Following the announcement, Intel’s shares surged by more than 10 per cent in after-market trading.

Once a dominant force in the semiconductor industry, Intel has been outpaced by Taiwan Semiconductor Manufacturing Co (TSMC) and Samsung Electronics, which lead in made-to-order chip production.

It also lags behind Nvidia, which has emerged as the top AI chip provider. Tan replaces Pat Gelsinger, who was ousted last year after the board lost confidence in his turnaround efforts, which included cutting 15,000 jobs and delaying chipmaking projects.

Tan, previously head of Cadence Design Systems, pledged to restore Intel’s reputation by taking calculated risks to outmanoeuvre competitors.

He intends to continue the company’s plan to manufacture chips for other firms, directly challenging TSMC. However, analysts remain cautious, questioning whether Intel will split its foundry and chip design businesses or prove its ability to deliver cutting-edge technology.

Intel also faces a growing battle in AI, where Nvidia dominates the data centre chip market. Analysts warn that without a compelling AI strategy, Intel could struggle to regain investor confidence.

Tan, however, remains optimistic, vowing to transform Intel into a world-class chipmaker while ensuring customer satisfaction.

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Major companies back global nuclear energy expansion

Several major companies, including Amazon and Google, have pledged to support the goal of tripling the world’s nuclear energy capacity by 2050.

However, this commitment was made during the CERAWeek conference in Houston, with other signatories such as shale company Occidental and Japanese firm IHI Corp. The World Nuclear Association (WNA) facilitated the pledge and expects more industries, including maritime and aviation, to join in the coming months.

Nuclear energy currently accounts for 9% of the world’s electricity, produced by 439 power reactors. As large tech companies like Amazon and Google pursue nuclear projects, including small modular reactors, the demand for uranium, essential for nuclear technology, has surged.

However, uranium supply remains constrained, mainly coming from Kazakhstan, Canada, and Australia.

With high demand, uranium prices reached a 16-year peak last year, driven by supply disruptions during the COVID-19 lockdowns.

Despite this, global nuclear power generation continues to be concentrated in just a few countries, with 411 reactors in operation as of early 2025, providing a combined 371 gigawatts of capacity.

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Indian police arrest Garantex administrator wanted by US

Indian authorities have arrested Aleksej Besciokov, an administrator of the Russian cryptocurrency exchange Garantex, at the request of the US.

Besciokov, a Russian resident and Lithuanian national, was taken into custody in Kerala on charges of money laundering and violating sanctions. The Central Bureau of Investigation (CBI) said he was planning to flee India, and Washington is expected to seek his extradition.

The arrest follows a joint operation by the US, Germany, and Finland to dismantle Garantex’s online infrastructure.

The exchange, under US sanctions since 2022, has processed at least $96 billion in cryptocurrency transactions since 2019. The US Justice Department recently charged two administrators, including Besciokov, with operating an unlicensed money-transmitting business.

Experts warn that sanctioned exchanges often attempt to bypass restrictions by setting up new entities. Blockchain research firm TRM Labs called the Garantex takedown a significant step in combating illicit finance but emphasised the need for continued vigilance against evasion tactics.

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Singapore fraud case involves $390 million in transactions

Singapore prosecutors revealed on Thursday that a fraud case involving local firms accused of illegally supplying US servers to Malaysia involves transactions worth $390 million.

Three men—Singaporeans Aaron Woon and Alan Wei, along with Chinese national Li Ming—have been charged with deceiving tech giants Dell and Super Micro by misrepresenting the servers’ final destination.

The case has been linked to Chinese AI firm DeepSeek, which is under US scrutiny over the potential use of banned Nvidia chips.

While Singapore authorities confirmed the servers may have contained Nvidia components, they did not specify whether these were the restricted high-end semiconductors subject to US export controls.

Singapore’s Law and Home Affairs Minister K Shanmugam declined to comment on the alleged connection.

Prosecutors claim Wei paid himself tens of millions in dividends, while Woon received a multimillion-dollar bonus. Singaporean authorities are investigating a wider network of 22 individuals and companies suspected of similar fraudulent practices, with six additional arrests made.

The accused are set to reappear in court on May 2, while Malaysian authorities are also probing potential legal violations.

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India plans five-year limit on satellite spectrum

India’s telecom regulator plans to recommend allocating satellite broadband spectrum for around five years to assess market adoption, a move that goes against Elon Musk’s Starlink, which has been pushing for a 20-year permit.

The Telecom Regulatory Authority of India (TRAI) is finalising key recommendations on the licensing timeframe and pricing, opting for a shorter period to monitor industry growth before making long-term commitments.

A government official confirmed TRAI is inclined towards a five-year limit, allowing regulators to review the market and revise spectrum pricing as needed.

However, this decision could impact Starlink’s long-term plans in India, as its deals with Reliance and Airtel are still pending regulatory approvals. Meanwhile, industry forecasts suggest India’s satellite communication sector could expand over tenfold, reaching $25 billion by 2028.

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