Uber Technologies and WeRide announced a partnership on Wednesday to integrate the Chinese self-driving technology firm’s vehicles into Uber’s rideshare platform, beginning in the UAE. This collaboration represents WeRide’s first foray with a global ride-hailing service. This allows Uber to expand its reach beyond China while continuing to incorporate robotaxis into its offerings. Earlier this month, Uber also expanded its partnership with Waymo to roll out robotaxis in Austin and Atlanta, and in August, it teamed up with General Motors’ Cruise to feature autonomous vehicles on its platform beginning next year.
The WeRide partnership is scheduled to launch in Abu Dhabi later this year, following the company’s acquisition of the UAE’s first and only national license for self-driving vehicles, which allows it to test and operate robotaxis on public roads across the country. WeRide had aimed to list its shares in the US, targeting a valuation of up to $5 billion; however, its initial public offering has been postponed as the firm completes the necessary documentation.
Meanwhile, the Biden administration recently proposed restrictions preventing Chinese automakers from testing self-driving cars on US roads, extending to vehicle software and hardware produced by other foreign adversaries, including Russia.
SpaceX is set to invest $1.5 billion in Vietnam, boosting Starlink’s satellite internet services in the country. The government has restarted discussions after talks paused at the end of 2023. Officials are now working closely with SpaceX to finalise plans.
The investment could improve internet access in mountainous regions and strengthen infrastructure for activities such as education and disaster response. SpaceX is particularly interested in supporting the country’s development and improving connectivity.
Disputes over strict regulations on foreign ownership of internet service firms previously stalled discussions. Vietnam limits foreign control to 50%, whereas SpaceX had sought a controlling stake, which may still pose challenges.
At its annual Connect conference, Meta Platforms unveiled its first working prototype of augmented-reality glasses called Orion. CEO Mark Zuckerberg described the chunky black glasses as a glimpse into a future where virtual and physical worlds merge seamlessly, referring to them as a “time machine” that could transform user interactions. The announcement also featured improved AI chatbot capabilities and a new Quest mixed-reality headset, contributing to a record closing high for Meta shares at $568.31.
The Orion glasses, made from magnesium alloy and powered by custom silicon designed by Meta, will include features like hand-tracking, voice controls, and a wrist-based neural interface. Meta plans to refine the glasses to make them smaller and more affordable for a projected consumer launch in 2027. However, previous attempts at AR by major tech companies have often encountered challenges. Analysts recognise Meta’s goal of making augmented reality accessible, but public scepticism about AI technology continues to be a significant barrier.
Although Zuckerberg did not demonstrate the glasses’ features live, a video showcased testers, including Nvidia CEO Jensen Huang, interacting with the device. Meta’s existing Ray-Ban smart glasses gained popularity after the introduction of an AI assistant, which will soon allow users to scan QR codes and stream music using voice commands. Future updates for these glasses are set to include real-time language translation and video generation capabilities.
Alongside its AR announcements, Meta unveiled several AI updates, including improved audio responses for its digital assistant, Meta AI, which can now mimic celebrity voices. With over 400 million monthly users, Meta is heavily investing in AI and AR technologies, anticipating record capital expenses of $37 billion to $40 billion for 2024. However, despite these investments, the Reality Labs division reported substantial losses of $8.3 billion in the first half of this year.
Italy‘s antitrust agency has launched an investigation into a Dublin-based company that runs Shein’s website and app over potentially deceptive environmental claims. The investigation targets Infinite Styles Services Co. Limited, accusing Shein of using unclear and misleading language to present its products as environmentally sustainable. It specifically questions claims related to Shein’s ‘evoluSHEIN’ collection, which may mislead consumers about the use of eco-friendly fabrics and the recyclability of its clothing.
Shein stated that it is prepared to cooperate with Italian authorities and provide necessary information fully. This investigation is part of a larger European push to combat ‘greenwashing,’ with the EU enforcing new rules that require companies to substantiate their environmental claims with clear evidence. Italy’s antitrust body also highlighted inconsistencies between Shein’s sustainability promises and the rise in greenhouse gas emissions the company reported in 2022 and 2023.
The case reflects a wider trend as European regulators intensify scrutiny of companies making environmental claims. Under Italy’s consumer protection laws, companies found guilty of misleading practices could face fines ranging from 5,000 to 10 million euros.
Blackstone has announced a significant £10 billion investment to build an AI data centre in Blyth, northeast England. The project will create 4,000 jobs, including 1,200 positions dedicated to the site’s construction. The initiative highlights the growing demand for energy-intensive data centres, a sector that remains resilient for investors like Blackstone, despite challenges in other commercial property markets.
Blyth was previously earmarked as a site for an electric vehicle battery factory, but those plans collapsed after Britishvolt, a UK startup, folded last year. Prime Minister Keir Starmer praised the new project during his visit to New York, emphasising its potential to drive regional economic growth.
In addition to the data centre, Blackstone will invest £110 million in a local fund aimed at improving skills training and upgrading transport infrastructure in the area. Blackstone’s President, Jon Gray, confirmed the investment, signalling the company’s commitment to supporting the local economy.
This new project represents a shift for commercial landlords, as data centres emerge as a rare growth opportunity in the wake of falling demand for other assets like post-pandemic office spaces.
Meta AI is fast becoming one of the world’s most widely used assistants, with nearly 500 million monthly active users, according to Mark Zuckerberg. Speaking at Meta Connect 2024, he highlighted its growth, pointing out that major markets like the EU have not yet been tapped.
India remains the largest user base for Meta AI, thanks to WhatsApp’s popularity, which boasts over 500 million users in the country. The AI is rapidly expanding its reach, placing it far ahead of competitors like OpenAI’s ChatGPT, which has around 200 million weekly users.
Alongside usage updates, Meta revealed new developments, including the Llama 3.2 models, offering enhanced multimodal capabilities. These models will be available in Europe, though they do not rely on European user data, due to regulatory concerns.
The event also introduced celebrity voices and new AI-powered features across platforms like Facebook, Instagram, and Messenger. Meta AI can now create photos, understand user images, provide answers, and even make edits.
Microsoft has announced a significant investment of $1.3 billion in Mexico over the next three years, aimed at strengthening its cloud computing and AI infrastructure. During an event in Mexico City, CEO Satya Nadella emphasised the company’s commitment to enhancing connectivity and promoting AI adoption, particularly among small and medium-sized businesses (SMBs). The initiative is expected to reach 5 million people and support 30,000 SMBs in the region.
Major Mexican companies, including Bimbo and Cemex, are already utilising Microsoft’s AI tools, showcasing the growing integration of technology in the country. Additionally, in partnership with Viasat, Microsoft plans to extend internet access to 150,000 Mexicans without connectivity by the end of 2025.
The investment has been positively received by Mexico’s incoming Economy Minister Marcelo Ebrard, who believes it will significantly accelerate the nation’s AI development.
While South Korean memory giants Samsung Electronics and SK hynix experienced a significant sales increase in China during the first half of this year, the report by the Korea Eximbank Overseas Economic Research Institute indicates that South Korea’s reliance on China for critical semiconductor raw materials is also growing. Key materials such as silicon, germanium, gallium, and indium have seen notable increases in demand, with South Korea’s dependence on silicon rising from 68.8% to 75.4% in 2022.
The report emphasises an increasing reliance on rare earth elements, crucial for semiconductor abrasives, and a slight uptick in dependence on tungsten, which is vital for semiconductor wiring. This trend is occurring against the backdrop of export restrictions enacted by the Chinese government on critical minerals such as germanium and gallium, in response to US sanctions. Currently, China dominates the global supply, producing 98% of the world’s gallium and 60% of its germanium, underscoring its pivotal role in the semiconductor supply chain.
Dependence on germanium rose significantly by 17.4 percentage points to 74.3% in 2022, and reliance on gallium and indium also increased by 20.5 percentage points to 46.7%. Despite the Chinese government’s export restrictions, local production among major Chinese firms has remained stable. For example, Samsung’s NAND flash facility in Xi’an has boosted its share of the company’s total NAND capacity from 29% in 2021 to 37% in 2023, with expectations to reach 40% this year.
Microsoft has made significant strides in enhancing its security culture following critical feedback from the United States Cyber Safety Review Board. The company launched its Secure Future Initiative (SFI) in late 2023, leading to the involvement of 34,000 engineers dedicated to cybersecurity efforts. CEO Satya Nadella has prioritised security across the organisation, even tying employee performance reviews to security goals in recent months.
Microsoft has implemented several changes to its security processes, including improvements to its Entra ID and Microsoft Account systems, reducing inactive tenants, and enhancing network tracking for better compliance. The company has also introduced stricter controls, such as limiting personal access tokens and eliminating SSH access for internal engineering repositories.
In its push for greater transparency, Microsoft is now publishing CVEs even when customer action is not required. It has also introduced new standards with a ‘Start Right, Stay Right, and Get Right’ approach to ensure that security protocols are integrated throughout its projects.
To oversee its cybersecurity efforts, Microsoft has established a Cybersecurity Governance Council and appointed several new deputy CISOs. The company has also launched a security skilling academy for employee training, reinforcing its long-term commitment to building a robust security culture.
Somalia’s National Communications Authority (NCA) and the International Telecommunication Union (ITU) have taken pivotal steps toward enhancing Somalia’s emergency telecommunications landscape. Their recent collaboration aims to implement the National Emergency Telecommunications Plan (NETP), a comprehensive strategy to ensure efficient communication during crises.
By convening a four-day engagement meeting that brought together diverse stakeholders, including government officials, mobile network operators, and representatives from international organisations, these organisations foster a cohesive understanding of roles and responsibilities in emergency telecommunications. The inclusive approach is essential for aligning efforts across multiple sectors, creating a unified response framework that can adapt to the evolving challenges faced by Somalia.
Recognising that the success of the NETP hinges on the active participation of telecom operators, the NCA’s Director General, Mr Mustafa Yasin Sheikh, emphasised the crucial role of their infrastructure and technical expertise in establishing a dependable emergency communications system. By harnessing the capabilities of these operators, Somalia can build a resilient network that remains operational during crises, safeguarding the well-being of its citizens.
Furthermore, the NCA and ITU are focused on the long-term sustainability of Somalia’s telecommunications infrastructure, prioritising the establishment of robust disaster management and critical communication networks. That proactive approach aims to enhance the overall safety and preparedness of the Somali population, ensuring that essential services can be accessed when needed most.
