Spanish oil company Repsol plans to invest 4 billion euros ($4.2 billion) in building data centres near Zaragoza, according to a report by Expansion newspaper. The planned investment marks Repsol’s significant move into the tech sector, aiming to capitalise on the growing demand for cloud computing infrastructure.
Zaragoza is becoming a key hub for cloud services, with major tech companies like Amazon and Microsoft already making large investments in the region. Repsol’s project will contribute to the area’s growing reputation as a leading destination for data centre development.
The company has not yet commented on the report, and details on the project’s timeline remain unclear. This move signals a shift for Repsol as it expands beyond its core oil business into digital services.
Universal Music Group (UMG) and Spotify have announced a new multi-year agreement covering recorded music and music publishing. The deal establishes a direct license between Spotify and UMG across the US and several other countries, aimed at enhancing the streaming experience for artists, songwriters, and consumers.
The partnership promises to introduce new offerings, including upgraded paid subscription tiers and a more expansive catalogue of music and visual content. Both companies emphasise that this collaboration will drive continuous innovation, making music subscriptions more appealing to a global audience.
As Spotify works to improve its profitability, the company has recently implemented cost-cutting measures, including layoffs and a reduced focus on podcasts. It has also raised prices for its US plans to cater to the growing demand for premium services.
Google is ramping up efforts to influence public perception and policy on AI as it faces increasing global regulatory scrutiny. Kent Walker, Alphabet’s president of global affairs, emphasised the importance of educating the workforce on AI, saying that getting more people familiar with the technology would lead to better policy and open new opportunities. Google is keen on shaping the narrative around AI, especially as it competes with rivals like Microsoft and Meta in the fast-growing sector.
The company is also working to address concerns about job displacement and the potential for AI-driven workforce changes. Google has committed $120 million to AI education programs, with initiatives like the “Grow with Google” program, which provides online and in-person training to help workers gain skills in areas such as data analysis and IT. The company has already certified one million people through these programs and is now adding AI-focused courses.
As governments draft regulations on AI’s impact on privacy, copyright, and the economy, Google is pushing for public-private partnerships to help prepare workers for AI-related changes. Walker noted that while AI could displace some jobs, it will likely be integrated into most roles, creating new opportunities. Google is also researching AI’s potential in training programs, aiming to make adult retraining more engaging and effective.
Researchers at Delft University of Technology in the Netherlands have developed a cutting-edge electric bicycle designed to improve cycling safety. Equipped with laser sensors and LiDAR technology, the ‘Delft SenseBike’ collects detailed data on moving and stationary objects, including cyclists, pedestrians, and vehicles. This data aims to create a three-dimensional map of road users’ behaviour to prevent accidents.
The project addresses a significant gap in data about cycling safety, even in a country with 22 million bicycles and 37,000 kilometres of cycle paths. Holger Caesar, one of the researchers, emphasised that the technology could one day alert drivers to unpredictable cyclist movements or even contribute to the design of self-stabilising bikes.
With cycling accidents leading to 270 deaths in the Netherlands in 2023, almost half involving collisions with vehicles, researchers hope this technology will save lives. While the team does not plan to create autonomous bicycles, their work highlights the potential of technology to make roads safer for all users without diminishing the joy of cycling.
Rivian, the US electric vehicle maker, and Volkswagen are in talks with other automakers about supplying them with software and electrical architecture through their joint venture. This collaboration, which began in November with Volkswagen’s $5.8 billion investment, aims to integrate advanced electrical infrastructure and Rivian’s software technology into both companies’ future EVs. Rivian’s streamlined vehicle architecture, which reduces weight and manufacturing complexity, also allows for over-the-air software updates, an area where traditional automakers have struggled to catch up.
Rivian‘s Chief Software Officer, Wassym Bensaid, revealed that other automakers are interested in the joint venture’s technology, though he declined to name them or provide details on the ongoing discussions. The venture is a key opportunity for established automakers to quickly access the technology they have long sought to develop themselves. For Rivian, the partnership provides higher volumes, better supplier deals, and a chance to reduce costs, especially important as EV demand slows.
Rivian focuses on launching its smaller, more affordable R2 SUV by 2027, while also expanding the integration of its technology into Volkswagen’s other brands. With increasing interest from additional OEMs, the joint venture is poised to become a significant player in the global EV market, particularly in the West, alongside Tesla. Analysts suggest the partnership helps Rivian address its capital concerns and positions it as a key player in the transition to software-defined vehicles.
LG Energy Solution, a major South Korean battery maker, has announced plans to reduce its capital expenditure by up to 30% this year, citing slowing demand for electric vehicles (EVs). The decision was made after the company reported a quarterly loss for the first time in three years. For the October-December period, LGES posted an operating loss of 226 billion won ($158 million), compared to a profit of 338 billion won during the same period in 2023.
The company, which supplies batteries to automakers like Tesla, General Motors, and Volkswagen, attributed its poor performance to a drop in demand from General Motors, one of its key clients. LGES expects demand to recover in the second quarter as GM launches new EV models. Additionally, the company highlighted that changes to US tariffs and potential reductions in EV tax credits could impact short-term growth in the US market, though it believes the long-term outlook for the battery industry remains strong.
In response to these challenges, LGES intends to prioritise using existing production capacity rather than expanding with new plants in North America. Despite the reduced spending, the company remains focused on growth, targeting a revenue increase of 5-10% this year. LGES will also launch joint battery production with Stellantis and Honda later this year. CEO Kim Dong-myung has expressed optimism about a recovery in the EV market after 2026, though he also acknowledged growing competition from Chinese rivals.
Shares of LGES remained flat following the announcement, while the broader KOSPI index saw a slight rise.
Stargate, a new joint venture formed by OpenAI, SoftBank, and Oracle, aims to build data centres across the US to support the growing demands of AI. According to a report by the Financial Times on Thursday, these data centres will be dedicated solely to OpenAI, the company behind the popular ChatGPT. The collaboration between these tech giants underscores the increasing importance of robust infrastructure to power the next wave of AI innovation.
The exclusive focus on OpenAI’s needs comes when AI technologies rapidly expand, with the demand for high-performance computing capabilities soaring. The partnership will allow OpenAI to scale its operations and provide the necessary computing power for its cutting-edge AI models. As companies worldwide race to develop more advanced AI tools, the infrastructure provided by Stargate is expected to play a crucial role in supporting the next generation of AI services.
Oracle and SoftBank’s involvement brings significant expertise in cloud infrastructure and global telecom, making the venture a powerful alliance in the competitive AI landscape. The project highlights the growing intersection of cloud computing, data storage, and AI as companies like OpenAI push the boundaries of what AI can achieve.
The founder and former CEO of GameOn, an AI startup in San Francisco, has been indicted for orchestrating a six-year-long fraud scheme that allegedly defrauded investors and the company out of over $60 million. Alexander Beckman, 41, faces 23 criminal charges, while his wife, Valerie Lau Beckman, 38, who worked as a lawyer for the company, is charged with 16 counts, including obstruction. Both have pleaded not guilty. The US Securities and Exchange Commission has also filed civil charges against the couple.
Beckman is accused of deceiving investors by inflating the company’s financial status, including fabricating fake customer relationships, overstating revenue, and creating fraudulent bank statements and audit reports. He allegedly went as far as impersonating individuals to share false information. Meanwhile, Lau Beckman allegedly assisted her husband by providing authentic audit reports to help fabricate false documents and delete critical files after an investigation began.
The Beckmans are also accused of misusing investor funds for personal expenses, including purchasing a luxury home, vehicles, and covering costs for their wedding. The fraudulent activities reportedly continued up until Beckman’s resignation as CEO in July 2024. GameOn, which has since been rebranded as On Platform, eventually admitted to the financial discrepancies and laid off most of its employees.
The case underscores the need for integrity in the tech industry, particularly within startups, as federal prosecutors emphasise that fraud cannot fuel innovation.
The UK‘s Competition and Markets Authority has appointed former Amazon executive Doug Gurr as its interim chairman, signalling the government’s push to boost economic growth and support the tech sector. Gurr, who brings extensive experience at Amazon, including leading the company’s UK and China operations, will guide the CMA as it fosters competition in industries such as cloud services and AI. The move aligns with the UK’s broader strategy to streamline regulations and position itself as a pro-business nation.
Gurr’s appointment comes amid a critical phase in the CMA’s investigation into the domestic cloud services market, which has been scrutinising Amazon’s dominant position. While Gurr will serve in an interim role, the government hopes his commercial background will help drive pro-business decisions that stimulate growth. This marks a shift from the previous chair, Marcus Bokkerink, whose tenure was shorter than expected, possibly due to dissatisfaction among government officials.
Industry experts note that Gurr’s appointment is timely, as the CMA is stepping up its oversight of Big Tech, particularly with the expanded powers under the Digital Markets, Competition, and Consumers Act. Critics and lobby groups like the Open Cloud Coalition closely watch how the CMA will handle its regulatory responsibilities, particularly in the cloud services sector, where Amazon holds a significant market share. They urge the CMA to maintain a strong stance on promoting fairness and competition.
As the CMA navigates its investigations and enforces new rules, stakeholders are keen to see how Gurr’s leadership will shape the future of competition regulation in the UK. The outcome could have far-reaching implications for businesses and consumers, particularly in the rapidly evolving tech landscape.
Marcus Bokkerink has been removed from his position as chair of the Competition and Markets Authority (CMA) by the UK government, marking a shift in regulatory practices aimed at boosting economic growth. The CMA, a key agency overseeing mergers and competition, had recently paused the high-profile Microsoft-Activision Blizzard merger, showcasing its regulatory power. Bokkerink, appointed in 2022, was expected to serve a five-year term but will now step down as part of the government’s effort to realign regulatory bodies with its economic priorities.
This decision reflects a broader governmental push to reduce barriers to economic expansion. Prime Minister Keir Starmer, Chancellor Rachel Reeves, and Business Secretary Jonathan Reynolds recently sent a letter to several regulators, including the CMA, urging them to prioritize growth. Government insiders have suggested that the move signals a serious commitment to reshaping the regulatory environment to encourage investment and economic development.
The removal of Bokkerink, a former senior partner at Boston Consulting Group, comes as the government continues to focus on attracting international investment, with key figures like Reeves and Reynolds attending the World Economic Forum in Davos to further this goal. The government’s efforts to reshape regulatory culture align with its broader strategy to make economic growth the country’s top priority.
