OpenAI, known for its AI models, appears to be exploring the semiconductor manufacturing sector, raising questions about the feasibility of building wafer fabrication plants. Reports recently surfaced about CEO Sam Altman’s discussions with executives from major chip manufacturers, including TSMC and Samsung, during his trip to Asia last year. Altman proposed an ambitious $7 trillion plan to construct 36 new wafer fabs and data centres, aiming to produce AI chips funded by the United Arab Emirates. He believes these facilities would support the burgeoning demand for AI capabilities.
The investment Altman suggested is staggering, amounting to a quarter of the annual output of the US economy. However, the timeline for establishing these fabs is lengthy, as it would take several years to meet OpenAI’s growing computing power requirements. TSMC, while approached for the project, found the proposal too aggressive and risky, noting that even a few additional wafer fabs would entail significant capital and risk.
Building a wafer fab is an enormous undertaking, often costing hundreds of billions of dollars due to various factors. The expenses stem from land acquisition, facility construction, equipment procurement, and ongoing operational costs. Advanced lithography machines and other essential equipment represent substantial financial commitments, while research, maintenance, and talent training add to the complexity. Current estimates place the cost of modern fabs in the billions; for instance, Intel’s factories in Arizona are expected to cost around $15 billion each, and Samsung’s Texas fab is projected at $25 billion.
Moreover, the cost of constructing a wafer fab varies by region. In Asia, established supply chains, available talent, and supportive policies contribute to lower costs, whereas building in Europe, the US, and the Middle East can be more expensive due to the necessity of importing technology and developing a comprehensive supply chain. Overall, OpenAI’s ambitions in the semiconductor space highlight the significant challenges and investments required to succeed in this critical industry.
Schools in Liverpool are trialling AI to reduce teachers’ marking workload and help personalise lessons. The initiative, supported by a partnership between Century Tech and Mayor Steve Rotheram, aims to give teachers more time for other tasks while improving educational outcomes.
Runnymede St Edwards Primary in West Derby has already adopted the AI tool for three years, offering insights into how it can tailor homework based on students’ strengths and weaknesses. Year Six pupil Noah explained how the platform adjusts tasks according to each pupil’s needs, balancing focus areas like science and maths.
The AI system also marks the homework, freeing teachers from hours of manual grading. It generates detailed reports on pupils’ abilities, providing educators with crucial information on where extra attention is needed.
Mayor Rotheram hopes the scheme will address the city’s lagging educational standards, with plans for a national rollout. Improving students’ skills in key subjects like English and maths at an early stage could help avoid costly interventions later.
AI Fund, led by renowned computer scientist Andrew Ng, has made its first investment in India by backing Jivi, an AI healthcare startup based in Gurugram. Jivi uses AI to assist with diagnoses, treatment suggestions, generating health reports, and administrative tasks. The fund did not reveal the exact amount invested or the stake it acquired in the company.
India‘s AI industry is experiencing significant growth, projected to more than double in value to $22 billion by 2027. According to a report by Nasscom-BCG, the healthcare and financial services sectors are set to dominate the market, with products and startups accounting for a substantial share.
AI Fund has previously invested in notable platforms like Podcastle and Octagon AI. This latest move marks a continued expansion into sectors where AI is becoming increasingly vital for innovation and efficiency.
Andrew Ng, who heads AI Fund, brings vast experience from his leadership roles in AI projects at Google and Baidu. He joined Amazon‘s board earlier this year, further solidifying his influence in the AI and tech space.
Leonardo, the defence company from Italy, is actively pursuing acquisitions in the cybersecurity sector, targeting a dozen companies both domestically and abroad. CEO Roberto Cingolani mentioned that some deals could be finalised by the end of the year. The company has been working on these acquisition processes for the past several months.
No acquisition will exceed 15% of the cyber division’s turnover, following guidelines set in Leonardo’s strategic plan. The company is prioritising cyber security as a key growth area, expecting strong double-digit expansion in this field in the coming years.
Leonardo aims to establish itself as a significant player in Europe’s cyber security market. Cingolani highlighted that the sector is at the heart of the group’s strategic development, especially as digitalisation continues to offer new opportunities.
The company’s 2024-2028 industrial plan outlines its commitment to strengthening its core businesses while also focusing on cybersecurity. Over the next five years, Leonardo forecasts a 16% rise in orders and a 13% growth in revenue in this area.
Uber is set to launch an AI assistant for its drivers in the United States in early 2025, powered by OpenAI’s GPT-4.0, aimed at supporting drivers with queries related to electric vehicles (EVs). The assistant will initially help answer questions on topics such as where to charge EVs and which models to buy. In time, the AI may expand its capabilities to include other uses.
The assistant will be accessible from the Uber driver app and will offer personalised responses based on a driver’s location, needs, and available government incentives. Future updates are expected to include voice interaction, allowing drivers to speak directly to the AI, with audio responses.
Uber also announced an ‘EV mentorship program’ to encourage experienced EV drivers to help guide others interested in making the switch to electric vehicles. Mentors will receive financial incentives for sharing their knowledge and insights about owning and driving EVs.
As part of its broader focus on climate action, Uber is enhancing its Uber Green service, with an EV-only option in 40 cities. Riders can now choose electric vehicles in cities like New York, Los Angeles, and Paris.
Duos Technologies Group, through its subsidiary Duos Edge AI, has entered a strategic partnership with Accu-Tech to expand the deployment of edge data centres across the US. This collaboration aims to meet the rising demand for faster data processing and improved connectivity in underserved areas.
With Accu-Tech’s established distribution network, Duos Edge AI plans to accelerate the rollout of its advanced computing solutions. President Doug Recker sees this as a key moment in providing critical technology to local communities. The growing edge computing market, expected to reach $43.4 billion by 2027, highlights the importance of this venture.
CEO Chuck Ferry emphasises the alignment between Duos’ vision and the need for innovative infrastructure to support local businesses. By partnering with Accu-Tech, Duos ensures both reliable installation and efficient operation of its edge data centres.
The first edge data centres are expected to be operational by Q4 2024. The collaboration is set to improve connectivity and optimise performance, bringing advanced technology to underserved regions across the country.
Foxconn is constructing the world’s largest facility in Mexico for bundling Nvidia’s GB200 superchips, a crucial component of Nvidia’s upcoming Blackwell computing platform. The Taiwanese electronics giant, known for assembling Apple’s iPhones, has been capitalising on the surge in demand for AI technology by manufacturing servers designed for AI processing.
Nvidia has already started shipping samples of its Blackwell chips and expects substantial revenue from these in the coming months. Foxconn executives highlighted the enormous demand for Nvidia‘s Blackwell platform, with many industry players seeking to adopt this next-generation AI computing technology.
The manufacturing plant in Mexico will have substantial capacity, building on Foxconn’s existing investments in the country. The company’s production capabilities are equipped with advanced liquid cooling technologies necessary for supporting AI servers, ensuring they meet the growing needs of the AI sector.
In addition to its focus on AI, Foxconn is diversifying its operations by expanding into the electric vehicle market. The company plans to leverage its technological expertise to become a leading EV contract manufacturer, producing vehicles under its Foxtron brand while helping automakers with manufacturing.
Google is gradually rolling out new security features to protect user data, focusing on preventing unauthorised access in cases of theft. The latest tools, which include Theft Detection Lock, Offline Device Lock, and Remote Lock, were announced in May and are becoming available on various Android devices.
Theft Detection Lock uses AI to lock the screen when it detects movement commonly associated with theft, such as someone snatching the phone. Offline Device Lock automatically secures the screen if a phone remains offline for a while, while Remote Lock allows users to lock their phone remotely using only their phone number, even if they can’t log into Find My Device.
Some users have reported seeing the features on devices like the Xiaomi 14T Pro, though others may need to wait as Google rolls out these updates over time. Users are encouraged to ensure their Google Play Services are updated to potentially access these features sooner.
The new security options are supported on Android 10 and up for Theft Detection Lock and Offline Device Lock, while Remote Lock works on devices running Android 5 and higher.
The British government is set to hold its first international investment summit on October 14, with top executives from companies such as Google, Wayve, and Brookfield Asset Management attending. The summit is aimed at encouraging foreign direct investment to stimulate economic growth, a key focus for Prime Minister Keir Starmer since taking office in July.
Sponsorship for the event comes from major corporations like Barclays, HSBC, and Lloyds, with notable speakers including Ruth Porat from Alphabet and Bruce Flatt from Brookfield. Despite some controversy, such as Elon Musk criticising the United Kingdom for not inviting him, the summit has drawn significant attention from the global business community.
The government emphasised that the event would strengthen partnerships between businesses and the UK, providing investors with the confidence needed to drive future growth. Prior to the summit, Starmer will convene the first Council of Nations and Regions to align regional leaders on investment and economic strategies.
In a significant step towards sustainability, the government announced a £21.7 billion investment in carbon capture projects, underlining its commitment to green initiatives ahead of the summit.
A European Central Bank official has suggested the creation of a ‘European ledger,’ a blockchain platform that could bring together digital assets and money across the continent. This proposed platform, referred to as a digital capital markets union, would tackle Europe’s fragmented financial systems and outdated regulations, creating a more efficient environment for digital assets.
According to Piero Cipollone, an ECB executive board member, many European banks are already experimenting with distributed ledger technology (DLT), which could lead to greater financial integration. However, non-interoperable systems between countries continue to create fragmented liquidity. A unified platform could bring significant benefits, including cost reductions and round-the-clock operations, benefiting both investors and central banks.
Despite the advantages, concerns remain that a European ledger could stifle financial innovation. Cipollone noted that traditional finance might require the flexibility provided by competing DLT platforms to flourish. As discussions continue, the ECB is exploring ways to settle DLT transactions using central bank money, while seeking long-term solutions to avoid inefficiencies.
