Meta is set to expand its presence in Vietnam by increasing investment in AI and manufacturing. Starting in 2025, production of its latest mixed reality headset, the Quest 3S, will move to the country.
The announcement came shortly after Meta’s president for global affairs, Nick Clegg, met with Vietnamese officials. Vietnam is a key market for Meta, with millions of users relying on its social media platform, Facebook.
Meta also supports numerous small businesses in the region. While the size of the investment remains unclear, Meta’s commitment highlights the growing importance of the Vietnamese market for the company.
Additionally, Meta plans to further integrate AI innovations into its platforms. Testing of its Meta AI tool in Vietnamese will begin soon, with a full launch expected by the end of the year.
SoftBank’s Vision Fund plans to invest $500 million in OpenAI’s latest funding round, according to a report by The Information. While SoftBank declined to comment, OpenAI did not respond immediately. The AI company is seeking to raise $6.5 billion through convertible notes, as reported by Reuters earlier this month.
Before SoftBank’s investment, OpenAI was valued at $150 billion, although this valuation is subject to change based on the company’s ability to restructure its corporate structure and lift the profit cap for investors. This marks SoftBank’s first investment in the firm led by Sam Altman.
OpenAI is reportedly considering a shift to a for-profit corporation that would function independently of its non-profit board. This transition aims to provide more flexibility and access to capital as the company seeks to enhance its business model and attract further investments.
Alphabet Inc.’s Google has announced a $1 billion investment in Thailand to establish a data centre and cloud region, aimed at meeting the increasing demand for cloud services and supporting AI adoption in Southeast Asia. This investment is projected to create approximately 14,000 jobs annually until 2029, according to a Deloitte study.
Google’s new cloud and data centre infrastructure will be situated in Chonburi and Bangkok, respectively, improving access to Google Cloud capabilities and AI innovations while also supporting popular services like Search, Maps, and Google Workspace. This announcement follows Microsoft’s launch of its own regional data centre in Thailand in May, aimed at expanding cloud services in the region.
Thai Prime Minister Paetongtarn Shinawatra praised Google’s investment, stating that it aligns well with the country’s Cloud First Policy, which promotes the adoption of cloud technologies across various sectors.
In August 2023, Powerchip Semiconductor Manufacturing Corp (PSMC) announced a partnership with Japan’s SBI to build a chipmaking plant in Japan. However, the plan was halted last Friday, with reports suggesting that PSMC’s declining financial performance may be the cause. PSMC has denied these claims, stating that the decision to terminate the collaboration is unrelated to its financial situation.
PSMC explained that its collaboration with SBI was structured around the Fab IP model, which involves offering consulting services, personnel training, and technology transfer in exchange for service fees and royalties. The company does not plan to invest in or oversee the operations of the new factory. After the board confirmed the termination of the partnership, PSMC dispatched representatives to Japan’s Ministry of Economy, Trade and Industry (METI) to clarify the situation and has informed SBI Holdings of the decision.
Reports indicate that PSMC opted not to assume the risks tied to the project, resulting in the dissolution of their partnership to build the facility in Miyagi Prefecture. This plant was projected to start mass production by 2027, specialising in automotive semiconductors with an estimated investment of ¥800 billion. Despite these challenges, SBI intends to proceed with the project by searching for new partners.
Notably, this decision comes after PSMC recently announced its intention to supply technology for a new chip plant in India, in partnership with Tata Group. The company has signed an agreement to assist in constructing India’s first 12-inch wafer fab in Dholera, Gujarat, which will employ mature process technologies and provide training for local workers. This USD 11 billion facility is expected to have a monthly capacity of 50,000 wafers and create over 20,000 high-tech jobs in the region.
Manchester has officially opened the first phase of a £1.7 billion ($2.3 billion) hub designed for science and technology companies. This initiative called the ‘Sister’ innovation district, is located on the University of Manchester’s former North Campus and aims to provide 2 million square feet of commercial space along with 1,500 new homes, enhancing the city’s reputation as a science and tech centre.
The Sister project is a collaboration between the University of Manchester and Bruntwood SciTech, alongside Legal and General and the Greater Manchester Pension Fund. Over 15 years, it has sought to attract private investment to improve public services and infrastructure in the UK. The first tenant, Sustainable Ventures, a climate tech investment firm, will move into the Renold Building in November.
Bev Craig, leader of Manchester City Council, described the opening as a significant moment for the city. The Sister district is included in the government-funded Greater Manchester Investment Zone, which allocates £160 million in public funds to attract businesses over the next decade. Plans for the first major development zone within Sister are expected to be announced soon.
Alphabet plans to invest $3.3 billion in South Carolina to establish two new data centres, according to CEO Sundar Pichai. This investment comes as the Google parent company and its competitors significantly enhance their infrastructure to support the growth of AI applications. The new data centre campuses will be located in Dorchester County, alongside an expansion of an existing facility in Berkeley County, as confirmed by the South Carolina governor’s office.
The new facilities in Dorchester County, located in the Pine Hill Business Campus in Ridgeville and Winding Woods Commerce Park in St. George, represent a $2 billion investment and are anticipated to create 200 operational jobs. Additionally, the expansion in Berkeley County will require another $1.3 billion investment. In July, Alphabet reported capital expenditures of $13 billion for the June quarter and indicated that spending would remain at or above $12 billion for the rest of 2024.
This announcement comes on the heels of Microsoft’s recent partnership with BlackRock and the Abu Dhabi-backed investment firm MGX to establish a fund exceeding $30 billion, focused on developing AI infrastructure, including the construction of data centres and energy projects.
Samsung has revealed the new Galaxy S24 FE, expanding its flagship series. The fan edition boasts the same Galaxy AI capabilities seen in earlier models, allowing users to utilise features like search, translate, and note assistance.
The smartphone is equipped with a 6.7-inch Dynamic AMOLED 2X display, offering a refresh rate of 60-120 Hz. Photography is enhanced with a 50 MP main camera, supported by a 12 MP ultrawide lens and an 8 MP telephoto sensor. A 10 MP selfie camera completes the lineup.
Running on the Exynos 2400e processor, the Galaxy S24 FE comes with 8 GB of RAM and up to 256 GB of storage. It operates on One UI 6.1 based on Android 14, powered by a 4,700 mAh battery supporting both wired and wireless charging.
Pre-orders for the Galaxy S24 FE are available now in Blue, Graphite, and Mint, with prices starting at £585 for the base model and £645 for the higher storage variant.
Kajeet, a leading provider of managed IoT connectivity solutions, and Mission Telecom, a non-profit organisation dedicated to providing affordable and reliable broadband and investing in a movement of systemic change, collaborate to deliver transformative connectivity solutions that empower underserved communities nationwide. By harnessing the innovative capabilities of Kajeet’s Sentinel platform alongside Mission Telecom’s unlimited broadband access services, the partnership aims to bridge the digital divide and ensure that essential internet access reaches those who need it most.
Furthermore, Kajeet will soon equip Mission Telecom with mobile device management, policy enforcement, wireless data usage control, network security, and advanced analytics. As a result, this will enable increased access to educational resources, job-seeking tools, and opportunities for economic growth, ultimately enhancing the vital services provided to nonprofits, libraries, and academic institutions.
In addition to improving connectivity, Kajeet and Mission Telecom collaborate to enrich educational opportunities for individuals and families. By delivering reliable internet access, they seek to provide essential learning and personal development tools, including online educational resources and job-seeking platforms. Moreover, Kajeet’s advanced mobile device management and analytics capabilities will empower Mission Telecom to foster a supportive environment for students and learners, equipping them for success in today’s digital landscape.
Furthermore, Kajeet and Mission Telecom collaborate to champion equitable access to broadband services, promoting digital inclusion across communities. That partnership embodies a shared vision for a more inclusive society where technology catalyses positive change. By addressing systemic challenges and leveraging their combined strengths, they are dedicated to cultivating a culture of empowerment through connectivity, ensuring everyone can thrive in the digital economy.
The British High Commission in Kenya has announced a significant funding allocation of Sh390 million for the ‘Strengthening Digital Communities’ project, which will be implemented in Busia and Mandera counties. The initiative is designed to close the digital divide by improving access to digital skills and technology for marginalised groups, including women, youth, senior citizens, and persons with disabilities (PWDs).
By investing in digital inclusion, the project aims to empower these communities and enhance their overall quality of life. Furthermore, with plans to reach over 190,000 individuals, the British High Commission supports Kenya’s ambitious goal of achieving 20 million digitally literate citizens by 2027.
To ensure the project’s success, the British High Commission collaborates with KICTANet and several local institutions, including the National Council of Persons with Disabilities and the Kenya Society for the Blind. That partnership reflects a shared commitment to fostering inclusivity and tackling the challenges faced by underserved populations in these counties.
By harnessing the strengths of these organisations, the initiative aims to cultivate a supportive environment that promotes digital literacy and access to technology. In addition, recognising digital employability as a crucial aspect of this effort, the project will provide training, mentorship, and resources to help young women and youth secure meaningful employment opportunities.
Moreover, community engagement campaigns will focus on raising awareness about cyber hygiene, digital safety, and the advantages of digital inclusion, ensuring that all community members have the knowledge and skills to navigate the digital landscape safely.
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.
