Australia’s financial crime watchdog, AUSTRAC, has launched a dedicated cryptocurrency task force to enforce anti-money laundering laws on crypto ATM providers. The move aims to curb the rising use of cryptocurrency in scams, money laundering, and fraud as the sector grows rapidly.
The task force will focus on ensuring that digital currency exchanges offering crypto ATM services implement robust safeguards against illicit activities. Australia currently has 1,200 crypto ATMs and 400 registered digital currency exchange providers. Non-compliance with regulations will result in financial penalties, AUSTRAC warned.
With Bitcoin surpassing $100,000 following Donald Trump’s election as US president, the global cryptocurrency market has nearly doubled in value this year. AUSTRAC CEO Brendan Thomas emphasised the urgent need for action, citing the increasing number of Australians falling victim to crypto-related scams.
OpenAI has launched ChatGPT Pro, a premium version of its chatbot priced at $200 per month, designed for engineering and research applications. The new subscription tier joins the company’s existing lineup, including ChatGPT Plus, Team, and Enterprise, signalling OpenAI’s drive to broaden its technology’s industry adoption.
ChatGPT Pro offers users cutting-edge tools like OpenAI’s o1 reasoning model, o1 mini, GPT-4o, and an advanced voice interface. It also includes o1 pro mode, a high-performance feature utilising extra computational power to tackle complex queries, making it especially valuable for technical professionals.
According to OpenAI, o1 pro mode significantly outperforms earlier iterations like o1 and o1-preview on benchmarks for tasks in mathematics, science, and coding. This launch underscores OpenAI’s commitment to delivering sophisticated AI solutions tailored to specialised and demanding fields.
Former PayPal COO David Sacks has been named as President-elect Donald Trump’s advisor on cryptocurrency and AI policy. Trump announced the appointment on Truth Social, stating Sacks would focus on creating a legal framework to support the US cryptocurrency industry and foster growth.
Sacks, a prominent venture capitalist and co-founder of Yammer, has been a longtime advocate for cryptocurrencies, describing them as aligning with PayPal’s original vision of a ‘database of money.’ His firm, Craft Ventures, has invested in major startups like SpaceX and Reddit.
While Sacks’ cryptocurrency stance is clear, his approach to AI policy remains less defined. However, his deregulatory leanings suggest a shift from the stricter policies of the outgoing Biden administration.
Asia’s data centre market is attracting global investors despite sky-high valuations, thanks to surging demand driven by artificial intelligence services. Industry leaders expect the sector to remain lucrative, with data centres critical for housing the infrastructure needed to support AI and other digital technologies.
Recent deals highlight this growth, including Blackstone’s $15.5b acquisition of Australia’s AirTrunk, which set a benchmark with valuations exceeding 20 times core earnings. Similarly, Indonesia’s NeutraDC is drawing interest from major players like Singapore Telecommunications and BDx Data Centres, with a partial sale valuing it at over $1b.
Australia has also seen significant activity, with the DigiCo IPO increasing by $100 million to meet strong investor demand. This trend underscores Asia’s AI dominance in global data centre transactions, representing over half of 2024’s deal value. However, some experts warn of risks in markets lacking robust infrastructure to keep up with capacity expansion.
While execution risks remain, Asia’s data centre market is poised for continued growth, fueled by both technological advances and the expanding needs of hyperscale customers.
Cleerly, an AI-driven cardiovascular imaging startup, has raised $106 million in a Series C extension round led by Insight Partners. The company, founded by cardiologist James Min, uses advanced software to analyze CT scans and detect early-stage coronary artery disease before symptoms appear. This innovative approach aims to improve preventive care for heart conditions, which remain the leading cause of death in the US.
The technology has already received FDA clearance for diagnosing symptomatic patients and recently gained Medicare approval for its plaque analysis test. Cleerly’s software provides a less invasive and more accurate alternative to traditional diagnostics like stress tests or angiograms. With a compounded annual growth rate exceeding 100% over the past four years, the company is poised to expand further as health insurers increasingly cover its tests.
The latest funding will support Cleerly’s ongoing multi-site clinical trials and future growth. Insight Partners’ involvement highlights the growing confidence in AI-driven solutions for healthcare. While facing competition from companies like HeartFlow and Elucid, Cleerly’s goal of screening the global population for heart disease positions it as a potential leader in this emerging market.
Citigroup has launched new AI tools to enhance workplace efficiency for 140,000 employees across eight countries. The tools, named Citi Assist and Citi Stylus, aim to simplify tasks such as navigating internal policies and analysing multiple documents. Initially available in countries including the US, UK, and India, the tools will be gradually introduced in more markets.
Citi Assist functions like a highly knowledgeable colleague, guiding users through HR, compliance, finance, and risk procedures. Citi Stylus, on the other hand, allows employees to summarise, compare, or search through multiple documents simultaneously, improving productivity and workflow.
Tim Ryan, Citigroup’s Head of Technology and Business Enablement, explained that staff can propose new uses for the tools, ensuring they evolve alongside employees’ needs. While separate from the bank’s broader efforts to enhance data management, the AI tools are expected to contribute to overall operational improvement.
Chief Technology Officer David Griffiths emphasised that the AI rollout aligns with Citigroup’s commitment to innovation and efficiency in a rapidly evolving financial landscape.
With organisations facing an average of 1,300 cyberattacks per week, Axiado is stepping up with a novel defence: a specialised security chip designed to protect digital infrastructure. Founded in 2017, the Silicon Valley-based startup recently secured $60M in Series C funding led by Maverick Silicon, with participation from Samsung Catalyst Fund and other investors. This brings Axiado’s total funding to $140M.
Axiado’s chip defends against boot-level and runtime security threats, ensuring the integrity of devices from data centres to 5G base stations. It uses root-of-trust technology to prevent hardware tampering and leverages AI-powered analytics to detect malicious data patterns. The company’s chip is positioned as a complement to existing software-based cybersecurity measures, acting as a last line of defence against sophisticated attacks.
The new funds will support Axiado’s go-to-market efforts and help transition its products into mass production by 2025. CEO Gopi Sirineni highlights the growing need for hardware-based security solutions, particularly as the stakes rise in the fight against cybercrime. With partnerships like the one with Jabil to develop server cybersecurity solutions, Axiado is set to expand its reach while competing with industry heavyweights and open-source projects such as Google’s OpenTitan.
European Union antitrust regulators are investigating whether Nvidia’s proposed $700 million acquisition of Run:ai could strengthen its dominant position in graphics processing units (GPUs). Nvidia currently holds 84% of the GPU market, far outpacing competitors Intel and AMD. Regulators are questioning Nvidia customers about potential bundling practices that might offer discounts for purchasing both its GPUs and software.
The European Commission is exploring whether such bundling provides Nvidia with a competitive edge and whether these practices could harm market competition. The Commission has set a preliminary review deadline of 20 December. Customers have also been asked how an open-source approach to Run:ai’s operations might impact their businesses. Nvidia has yet to comment on the inquiry.
GPUs are critical for data centres, gaming, and cryptocurrency mining, making this deal significant for the technology sector. The investigation could influence how Nvidia integrates Run:ai into its portfolio.
Amazon Web Services (AWS) has revealed advanced data centre servers powered by its in-house Trainium2 AI chips, marking a significant step in its efforts to rival Nvidia in the AI hardware market. The servers will form the backbone of a vast supercomputer designed to handle complex AI workloads, incorporating hundreds of thousands of Trainium2 chips. AI startup Anthropic will be the first to utilise the new system, highlighting its capabilities for AI research and deployment.
Apple has also confirmed its adoption of Trainium2 chips, underscoring the growing appeal of Amazon’s AI hardware in the competitive tech landscape. AWS CEO Matt Garman added that the Trainium3 chip, the next evolution in the series, will debut in 2024. This aligns with Amazon’s broader strategy to dominate AI technology, offering cutting-edge solutions for both startups and major corporations.
The announcement comes as Amazon intensifies efforts to challenge Nvidia, currently a leader in AI chip manufacturing. AWS‘s growing presence in the sector aims to meet surging demand for AI processing power while providing alternatives to established providers. These advancements not only strengthen Amazon’s position in AI technology but also attract major industry players like Apple, which is leveraging the chips to enhance its data operations.
The UK Competition and Markets Authority (CMA) has approved the merger between Vodafone and Three, two of the country’s largest telecom operators, in a $19 billion deal. The merger, which has faced intense scrutiny, was initially investigated due to concerns over potential price hikes, reduced services, and lower investments in mobile networks. However, the CMA approved the deal with conditions to address these concerns, including commitments for significant investment in a nationwide 5G network.
The companies must also cap mobile tariffs for the next three years and maintain contractual terms for mobile virtual network operators (MVNOs) during that period. The CMA’s decision marks a shift from previous cases where “4-3” mergers in the telecom sector were allowed only with significant structural changes. This approval is seen as a pragmatic approach, with the CMA confident that competition will be strengthened by a well-resourced trio of mobile operators in the UK.
Vodafone’s CEO, Margherita Della Valle, welcomed the approval, emphasising the benefits for consumers and businesses, including wider coverage and faster mobile speeds. The merger is expected to accelerate the UK’s position in European telecommunications, with a combined investment in the sector. The CMA and Ofcom will oversee the implementation of the agreed measures to ensure competition is maintained.
