Billionaire Frank McCourt has expressed interest in partnering with others to acquire TikTok’s US operations, provided he retains control. Speaking at the World Economic Forum in Davos, he revealed that private equity firms and family offices have already offered financial backing. He emphasised that the primary challenge lies in awaiting decisions from ByteDance or the Chinese government, rather than securing funding.
McCourt’s bid, tied to his Project Liberty initiative, aims to shift TikTok’s 170 million US users to his platform, promoting greater user control over data sharing. The billionaire remains firm on excluding TikTok’s recommendation algorithm from the deal. His advocacy group initially submitted a proposal earlier this year, focusing on building a digital infrastructure based in the US.
Interest in TikTok’s US operations has surged, drawing attention from notable investors, including Elon Musk and Larry Ellison. Some existing TikTok stakeholders have expressed interest in retaining partial stakes, potentially lowering the estimated $20 billion cost. The sale follows legislative pressure in the US to enforce divestiture or a ban.
McCourt reported bipartisan support from Congress for ensuring a qualified divestiture of TikTok’s US assets. Despite never using the app himself, he values its users, data, and brand, seeing the acquisition as an opportunity to reshape digital engagement.
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.
Oracle has introduced a suite of AI agents designed to streamline tasks for sales professionals. Unlike consumer-focused virtual assistants, these agents specialise in specific functions, such as updating records after customer meetings and compiling detailed reports to assist with deal negotiations. The agents can integrate data from across Oracle’s business software ecosystem, even translating information from different languages to offer sales teams a comprehensive view of customer interactions.
A notable feature of the new system is its ability to highlight critical insights, such as delays in shipments affecting repeat customers in other regions, which can help sales teams navigate negotiations more effectively. Rob Pinkerton, Oracle’s senior vice president, emphasised the global relevance of the technology, especially for companies operating in multiple markets. The tools are particularly tailored for industries like manufacturing and logistics, where accurate and timely data is crucial.
The AI agents are available to customers starting this week at no additional cost, reflecting Oracle’s commitment to enhancing its software offerings. The move aligns with broader industry trends, as competitors like Microsoft and Google also focus on deploying specialised AI to increase productivity and tackle complex challenges in enterprise environments.
SandboxAQ, a quantum technology startup spun off from Alphabet in 2022, has announced its large quantitative models (LQMs) will be available on Google Cloud. These models, which handle vast numerical datasets and perform complex calculations, are designed for applications such as financial modelling, trading automation, and statistical analysis. The partnership will enable enterprises to develop and deploy LQMs more efficiently, broadening SandboxAQ‘s customer base.
CEO Jack Hidary emphasised the significance of quantitative AI, highlighting its role in industries like life sciences, financial services, and navigation. The company, headquartered in Palo Alto, recently secured $300 million in funding, raising its valuation to $5.6 billion. This is the first time SandboxAQ’s models will be accessible on a third-party platform, marking a significant milestone in its growth.
Google’s growing focus on quantum computing complements its collaboration with SandboxAQ. The tech giant announced progress in quantum chip development last December, aiming to address key challenges in the field. Rivals like Microsoft and Nvidia have also been advancing quantum computing initiatives, signalling intensified competition in the emerging technology.
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.
Google is rolling out a unique accessibility feature for Chromebooks that allows users to control their devices using head and facial movements. Initially introduced in December, this tool is designed for people with motor impairments and uses AI to let facial gestures act as a virtual cursor. The feature is available on Chromebooks with 8GB of RAM or more and builds on Google’s prior efforts, such as its Project Gameface accessibility tool for Windows and Android.
In addition to accessibility, Google is unveiling over 20 new Chromebook models this year, including the Lenovo Chromebook Plus 2-in-1, to complement its existing lines. The devices target educators, students, and general users seeking enhanced performance and versatility.
Google has also introduced ‘Class Tools’ for ChromeOS, which offer teachers real-time screen-sharing capabilities. These tools allow educators to share content directly with students, monitor their progress, and activate live captions or translations during lessons. Integration with Figma’s FigJam now brings interactive whiteboard assignments to Google Classroom, promoting collaboration and creative group work. Together, these updates aim to enhance accessibility and productivity in education.
Across China, artificial intelligence-powered ‘smart pets’ are becoming a popular solution for emotional relief, particularly among younger generations. These devices, such as the BooBoo robot produced by Hangzhou Genmoor Technology, offer companionship through lifelike interactions. Nineteen-year-old Zhang Yachun, for example, says her AI pet, Aluo, has helped her cope with anxiety and feelings of isolation.
The market for ‘social robots’ is rapidly growing, with estimates projecting a sevenfold increase to $42.5 billion globally by 2033. While initially designed for children, these AI companions are increasingly appealing to adults and families. Some view the robots as tools to supplement limited time with children, though sceptics note the lack of emotional depth compared to real pets.
Experts attribute the rise in AI pets to societal changes, including China‘s one-child policy, economic pressures, and evolving family dynamics. These robots, which can mimic behaviours and provide emotional stimulation, serve as an outlet for individuals who feel disconnected. For Zhang, Aluo has also fostered better communication with her parents, highlighting the role AI companions can play in bridging gaps in human relationships.
