Japanese companies Rapidus and Denso are set to collaborate on creating standardised design methods for advanced chips, which will be used in sectors such as AI and self-driving vehicles. The collaboration marks a significant step for Japan as it leads efforts to develop cutting-edge chip technology.
This is the first time Japanese firms have taken the lead in standardising chip design methods. The initiative is aimed at boosting Japan’s competitiveness in the global chip market, where competition is fierce and innovation is key.
Rapidus and Denso will encourage other companies to join in sharing their chip designs. The shared methods are expected to reduce development time and production costs, fostering a more efficient approach to chip manufacturing.
By creating common design practices, the companies hope to speed up the development of advanced chips, making them more affordable to produce and further solidifying Japan’s position in the tech industry.
MicroStrategy is set on transforming itself into a ‘Bitcoin bank,’ with co-founder Michael Saylor projecting a potential trillion-dollar valuation for the company. With a massive Bitcoin holding of 252,200 coins, valued at $15.8 billion, MicroStrategy’s strategy centres around using Bitcoin to create capital market instruments for investors.
Bernstein Research has rated the firm as ‘Outperform’ with a target price of $290, crediting its Bitcoin-focused approach for this optimistic outlook. Saylor likens Bitcoin to a ‘tech monetary network’ and envisions creating various financial products tied to the cryptocurrency, allowing investors to benefit from Bitcoin’s performance.
MicroStrategy’s innovative use of convertible bonds and equity to raise capital at low interest rates has given it a competitive edge in the digital asset space. Saylor remains bullish, predicting that Bitcoin’s price will soar in the future, potentially turning MicroStrategy into a trillion-dollar company.
Tesla CEO Elon Musk has unveiled a robotaxi called ‘Cybercab’, aiming to shift the focus from affordable electric cars to robotic vehicles. Set to cost under $30,000, the vehicle features gull-wing doors, no steering wheel or pedals, and is expected to enter mass production by 2026. Musk also introduced a robovan designed to carry up to 20 passengers.
BREAKING: Here is the first look at Tesla’s Cybercab.
Despite Musk’s bold vision for autonomous driving, experts raised concerns about safety, regulation, and the practicality of his timeline. Musk acknowledged previous delays but reaffirmed his belief that self-driving technology would drastically improve road safety, predicting a tenfold improvement over human drivers. However, little detail was provided on how Tesla plans to outpace its competitors.
Tesla’s new approach favours AI and camera-based technology, rather than the more common lidar, posing challenges both technically and in terms of regulation. Musk also teased advancements in Tesla’s humanoid robot ‘Optimus’, which is projected to cost between $20,000 and $30,000 and could perform household tasks in the future.
The event marked a pivotal moment in Tesla’s shift towards autonomous transportation. However, concerns linger about Musk’s ability to deliver on these promises, especially as Tesla faces increased competition in the robotaxi market and risks missing its delivery targets for the year.
Suki, a healthcare startup is developing AI-powered voice assistants, has raised $70 million in a Series D funding round led by London-based Hedosophia, with participation from Venrock and March Capital. The latest funding brings Suki’s total to $165 million and reportedly values the company at around $500 million. The Redwood City-based startup aims to reduce the administrative burden on healthcare providers with AI tools that streamline tasks like clinical documentation.
Founded in 2017 by former Google and Flipkart executive Punit Soni, Suki has seen growing demand for its products, particularly its Suki Assistant and Suki Platform, as more healthcare systems adopt generative AI technology. The startup now partners with over 300 health systems, including St. Mary’s Healthcare in New York, and integrates with major Electronic Health Record (EHR) systems such as Epic and Oracle’s Cerner.
Suki plans to use the new funding to further develop its AI assistant, adding new features and tools to manage multiple AI models. Competing in the same space as Microsoft’s Nuance and other startups like Abridge, Suki continues to expand its footprint in the AI healthcare market.
USAID announced a groundbreaking $5 million funding initiative aimed at fostering a new public-private partnership involving the United States Agency for International Development (USAID), the Government of Armenia, and Amazon Web Services (AWS). That collaboration seeks to leverage the strengths of the private sector to address global challenges, particularly in the realm of digital transformation.
Moreover, the partnership is specifically designed to enhance the resilience of Armenian institutions, thereby ensuring they are better equipped to serve citizens and maintain continuity during disruptions. Furthermore, this initiative aligns with Armenia’s recently adopted Cloud First Policy (CFP), which focuses on innovating public services through cloud technology and represents a significant step toward modernising the country’s technological infrastructure. Through strategic consultations with AWS leadership, the Armenian government aims to improve data safety, cost-efficiency, and overall resilience in its service delivery.
The implementation of the Continuity of Government IT (CGIT) solution on AWS will be crucial for protecting Armenia’s digital assets during disruptions. Specifically, this cloud-based solution will help the government align its continuity goals with technology paths that support its digital transformation objectives.
Additionally, this collaboration has the potential to create a replicable public-private model that other regions can adopt. By amplifying this approach, governments can not only enhance cyber resilience but also leverage cloud computing to accelerate sustainable development goals, ultimately contributing to a more robust global technological landscape.
Numeric, an AI-driven accounting software company co-founded by Parker Gilbert in 2020, is gaining traction for automating the tedious and error-prone process of month-end and quarter-end financial closings. Frustrated with manual accounting work at a startup, Gilbert developed the software to streamline and accelerate the process by using AI to analyse and reconcile data from various accounting systems. Companies like Brex, OpenAI, and Plaid now rely on Numeric for their accounting needs.
In the past year, Numeric’s revenue has grown fourfold, reaching single-digit millions. This growth has attracted significant investor attention, leading to a $28 million Series A funding round led by Menlo Ventures, just five months after raising $10 million in seed funding. The round also saw participation from new investors like IVP and Socii, alongside previous backers such as Founders Fund and Long Journey.
Numeric’s software uses AI to perform flux analysis, identifying changes in financial line items and explaining discrepancies, which saves accountants time and improves accuracy. Although AI currently supports analysis and commentary rather than final calculations, Gilbert expects future versions of the software to expand these capabilities. Menlo Ventures’ Croom Beatty, who led the Series A round, highlighted Numeric’s ability to address complex accounting workflows, setting it apart in a market dominated by established players like BlackLine and FloQast.
The US government has launched the National Spectrum Research and Development Plan, aiming to boost America’s leadership in wireless spectrum innovation. Developed by the Wireless Spectrum R&D Interagency Working Group, the plan was initiated under the White House Office of Science and Technology Policy, with significant contributions from the US National Science Foundation (NSF). The plan outlines strategies to address the rising demand for wireless spectrum, which is critical for national security, economic growth, and technological advancement.
The plan builds on President Joe Biden’s call for a coordinated national strategy to modernise spectrum policy. Key research areas include agile antennas, spectrum sharing, and interference resilience, with contributions from various federal agencies such as the Department of Defense, the Department of Energy, and the Federal Communications Commission. The NSF’s involvement highlights the plan’s focus on fostering interdisciplinary research and cross-sector innovation.
By providing a roadmap for future spectrum technologies, the National Spectrum R&D Plan opens new commercialization opportunities and encourages international cooperation, ensuring the US remains competitive in the global spectrum landscape.
Siemens is relying on its digital platform, Xcelerator, to drive future growth, especially in its factory automation business, which has faced slowing demand in China and Europe. Despite lowering its full-year sales forecast, Siemens reported an 82% jump in industrial software sales for the three months ending in June, mainly due to Xcelerator’s offerings, according to Peter Koerte, the company’s chief technology and strategy officer.
Xcelerator, launched in 2022, is a cloud-based platform that delivers hardware and digital services to a global customer base, boasting over a million monthly users. Siemens’ divisions, including mobility, smart infrastructure, and digital industries, leverage its offerings to enhance its operations. The platform collaborates with 400 partner companies, providing more than 900 solutions worldwide. However, Siemens has not disclosed specific financial figures for Xcelerator.
Xcelerator has achieved significant success in key markets, including China, India, Germany, and the US. Its advanced capabilities have enabled Siemens to secure major contracts, such as an order for 90 regional trains from Deutsche Bahn in August. By analysing data from these trains, Xcelerator enhances maintenance practices, boosts energy efficiency, and improves punctuality, showcasing its effectiveness in integrating digital and physical services to address customer needs.
Bosch is teaming up with US chip startup Tenstorrent to establish a standard platform for automotive chip development. The collaboration focuses on standardising the use of chiplets, which are essential components of modern chips, to create versatile systems tailored for various automotive needs. David Bennett, Tenstorrent’s chief customer officer, emphasised that this initiative aims to redefine how automakers approach silicon procurement and production.
By integrating diverse types and quantities of chiplets into complete processors, both companies seek to enhance cost efficiency and accelerate the introduction of new silicon products in the automotive sector. The rapid rise of electric vehicles has turned cars into complex computer systems powered by batteries, prompting a need for innovative chip solutions.
As the industry adapts to the complexities of electrification and automated driving, vehicle manufacturers are exploring new pathways to either build or acquire the necessary chips. Standardising the technical requirements of chiplet building blocks could lead to reduced costs, according to Bennett, enabling a more efficient and customisable approach to automotive design.
Although specific products or sales to automakers have not yet been established, the collaboration aims to produce a standard chiplet design. Such designs would allow automakers to customise their vehicles while saving costs compared to off-the-shelf components. Tenstorrent’s CEO, Jim Keller, previously led chip design efforts at Tesla, further strengthening the expertise behind this innovative partnership.
Industry ministers from the G7 advanced democracies have agreed that non-market practices in the semiconductor industry pose an urgent challenge that requires collective action. This consensus was announced by the Italian presidency and is a response to growing concerns about China’s influence in the sector. During the G7 summit in June, leaders had previously pledged to address what they called unfair business practices by China, particularly as the country aggressively advances its semiconductor manufacturing capabilities.
The majority of global semiconductor production takes place in South Korea and Taiwan, with Taiwan’s closeness to mainland China heightening concerns about potential military conflicts that could disrupt global supply chains. Due to Taiwan’s leadership in advanced chip manufacturing, major economies such as the US and European nations have enacted legislation to enhance domestic semiconductor production. Initiatives like the US CHIPS Act and corresponding European measures have allocated substantial funding to incentivise companies to set up chip production facilities within their countries.
Alongside semiconductor issues, the newly established G7 task force will also focus on undersea cable connectivity, which has grown increasingly critical. Recent outages in major undersea cables have underscored the necessity for a stable and secure global internet infrastructure. This expansion of the G7’s agenda aims to address broader technological stability, moving beyond semiconductor concerns to encompass essential aspects of digital connectivity.
