At TechCrunch Disrupt 2024, Ashton Kutcher, co-founder of Sound Ventures, shared his belief that every company will eventually incorporate AI, though he doubts there will be a single “winner” in the space. Kutcher emphasised the transformative potential of foundational AI models, which he views as essential to future innovation across industries. “There will not be a company in the world that is not, in some way, using AI,” he noted, adding that foundational companies in AI could become some of the most valuable in history.
Kutcher, alongside Sound co-founders Guy Oseary and Effie Epstein, explained that Sound Ventures is betting heavily on AI, with a $265 million fund backing major AI firms like OpenAI and Anthropic. Kutcher also shared that OpenAI’s CEO, Sam Altman, supported Sound’s multi-company AI investments, with the firm carefully maintaining confidentiality across its portfolio.
While some are apprehensive about AI’s rapid growth, Kutcher compared the technology’s potential impact to transformative past innovations like personal computers and cars. Advising founders, he highlighted the importance of strong teams over polished pitch decks, noting that real value lies in people, market insight, and breakthrough ideas.
Meta is working on a new AI search engine to lessen its reliance on Google and Microsoft’s Bing. The move places Meta among other tech giants, such as OpenAI, Google, and Microsoft, in the race to dominate the evolving AI-powered search landscape.
The new search tool aims to enhance Meta’s chatbot on WhatsApp, Instagram, and Facebook by offering conversational responses to real-time queries about news and events. Meta currently depends on Google and Bing to provide users with information on topics like news, stock markets, and sports.
As competition intensifies, Google is pushing its Gemini AI model into core services, including Search, to offer more interactive and intuitive experiences. OpenAI, meanwhile, continues to use Bing, leveraging its close partnership with Microsoft for topical queries.
The use of web data to train AI systems and build search engines has sparked debates about copyright and fair compensation. Meta recently announced that its chatbot would incorporate Reuters content to provide up-to-date answers to questions related to news and current events.
Shivaun and Adam Raff, founders of the now-closed price comparison site Foundem, recently concluded a 15-year legal battle against Google, which resulted in a record-breaking €2.4bn (£2bn) fine against the tech giant. The dispute began when Foundem’s online visibility plummeted due to a Google penalty shortly after the site’s 2006 launch. The Raffles believed it was an error but later suspected Google was deliberately pushing their site lower in search results to favour its own shopping services.
Following years of appeals, the European Court of Justice ruled against Google in 2024, upholding the European Commission‘s 2017 decision that Google had abused its market dominance by demoting competing shopping services. Although Foundem’s closure in 2016 made the victory bittersweet, the case has had lasting regulatory implications, prompting the European Commission to investigate Alphabet, Google’s parent company, for ongoing anti-competitive practices under the Digital Markets Act.
The Raffs, whose site once allowed users to compare a wide range of products, fought for years with little initial success, escalating the case to regulators in Brussels in 2010. Google argued its changes since 2017 comply with the EU ruling and benefit hundreds of price comparison sites, but the Raffs maintain that Google’s practices continue to stifle competition.
The couple’s legal journey has taken a toll, but they are still pursuing a civil damages claim against Google, scheduled for 2026. Their fight is seen as a pivotal moment in Big Tech regulation, underscoring their determination to challenge anti-competitive behaviour.
AT&T has announced a $1 billion, multi-year agreement with Corning to procure fibre, cable, and connectivity solutions as it ramps up efforts to expand high-speed internet services. Facing a slowdown in the United States wireless market, AT&T and other telecom firms like Verizon are increasingly focusing on high-speed internet, traditionally dominated by broadband providers such as Comcast. The telecom giant aims to attract customers by bundling high-speed fibre with its wireless phone services at a discount.
The deal with Corning is expected to support AT&T’s network expansion by improving service performance and reducing deployment costs. AT&T reported that by the end of the third quarter, its fibre network was passing 28.3 million potential customer locations, with a target to exceed 30 million by 2025.
AT&T‘s fibre service added 226,000 new customers in the third quarter, short of forecasts due to a work stoppage affecting fibre installations in the southeast. Despite the challenges, the company remains focused on expanding fibre services to meet growing demand.
Ericsson has signed a 5G deal with Spain’s largest telecom operator, MasOrange, to enhance its network using Open Radio Access Network (ORAN) technologies. This marks Ericsson’s first such agreement in Europe following a significant $14 billion, five-year deal with AT&T in the United States last year. ORAN technology is designed to reduce costs by employing cloud-based software and equipment from multiple suppliers rather than relying on a single provider.
Jenny Lindqvist, Ericsson’s senior vice president, noted that this partnership aligns with industry trends and is crucial for scaling Open RAN technology. She emphasised that Europe is still in the early stages of 5G deployment compared to other regions. MasOrange, formed from the merger of the Spanish unit of France’s Orange and local competitor MasMovil, serves over 30 million mobile customers.
While Ericsson did not disclose the specifics of the deal with MasOrange, a source indicated it would involve around 10,000 sites. The agreement aims to meet the growing demand for 5G services across urban and rural areas, as well as large venues like stadiums.
Nigerian fintech company Moniepoint has raised $110 million in new funding, backed by investors like Google, to expand digital payments and banking services across Africa. Since its 2015 inception as a payment infrastructure provider for banks, Moniepoint has grown to offer personal banking services, becoming a major player in Nigeria’s rapidly growing fintech market.
The funding round, supported by existing investors such as Development Partners International and Lightrock, and new entrants Google’s Africa Investment Fund and Verod Capital, values Moniepoint above $1 billion, marking its entry into “unicorn” status. The company plans to use the funds to develop an integrated business platform offering digital payments, banking, credit, and business management tools.
With a customer base in Nigeria‘s vast, underserved financial market, Moniepoint says it processes over 800 million transactions each month, valued at more than $17 billion. This new funding will help accelerate its mission to provide accessible financial solutions across Africa.
Universal Music Group (UMG) has announced a partnership with Los Angeles-based AI music company KLAY Vision to create AI tools designed with an ethical framework for the music industry. According to Universal, the initiative focuses on exploring new opportunities for artists and creating safeguards to protect the music ecosystem as AI continues to evolve in creative spaces. Michael Nash, Universal’s chief digital officer, emphasised the importance of ethical AI use for artists’ rights in a rapidly changing industry.
The collaboration comes as Universal Music faces ongoing legal battles with other AI companies, including Anthropic AI, Suno, and Udio, over the use of its recordings in training music-generating AI models without authorisation. These cases highlight the growing concerns surrounding AI technology’s impact on the creative sector, particularly with respect to artists’ rights and intellectual property.
With this partnership, Universal Music aims to establish AI technologies that support artists’ needs while navigating the complex ethical questions surrounding AI-generated music. By working alongside US based KLAY Vision, Universal hopes to shape the future of AI in music responsibly and to develop solutions that ensure fair treatment of artists and their work.
Intel is expected to report its largest revenue drop in five quarters, signalling a possible decline in its market position in data centres and personal computers. CEO Pat Gelsinger faces mounting pressure from shareholders to revive Intel’s status as a leading chipmaker, especially as rivals like AMD capitalise on the surging demand for AI-driven chips. Wall Street analysts anticipate an 8% revenue decline to $13.02 billion, highlighting the urgency for Intel to advance its manufacturing technology and regain competitiveness.
Despite recent moves, including job cuts and securing a chipmaking contract with Amazon, investors remain sceptical. Intel’s market value has fallen below $100 billion, and its stock is down over 50% this year. Calls are growing for Intel to spin off its struggling foundry business, which posted a significant operating loss of $2.55 billion due to high production costs. This manufacturing segment is often blamed for Intel’s weakened gross margins, which are expected to dip to 37.9%.
Intel’s struggles are compounded by a 17% decline in data centre revenue, the company’s 10th straight quarterly drop. Meanwhile, AMD has gained momentum, with its data centre revenue projected to double due to its AI-focused chips. With half of the analysts covering Intel lowering their revenue forecasts, expectations are already low, leaving investors hoping for a strategic turnaround in Intel’s business model.
Apple announced that its Apple Intelligence AI suite will be available in the European Union starting in April 2025, with localised language support to follow. The AI-powered feature set, which includes advanced tools such as Writing Tools, Genmoji, and a redesigned Siri with ChatGPT integration, has until now been limited to US English. The delay in the European rollout was previously attributed to compliance requirements under the EU’s Digital Markets Act (DMA), which applies to certain digital platforms to ensure competition and user privacy.
With iOS 18.1, Mac users in Europe can already access Apple Intelligence features by switching their language settings, while iPhone and iPad users must wait until next April. The release will come with support for a dozen languages throughout 2025, including French, German, Italian, and Spanish, broadening accessibility for EU users.
Apple’s phased rollout underscores the tech giant’s efforts to adapt its products to EU regulatory standards while maintaining a consistent experience for European users. Although some features, like notification summaries, may not be available initially, Apple has committed to bringing as many AI capabilities as possible to European devices in future updates.
India‘s Jio Payment Solutions, a wholly-owned subsidiary of Mukesh Ambani’s Reliance Group under Jio Financial Services, has received the Reserve Bank of India’s (RBI) approval to operate as an online payment aggregator. Effective from 28 October, the approval allows Jio Payment Solutions to facilitate a wide range of digital transactions, including credit and debit cards, bank transfers, e-wallets, and Unified Payments Interface (UPI) payments, among others. This step positions Jio Payment Solutions as a key player in India’s fast-growing digital payments market, where convenience and a broad array of transaction methods are in high demand.
As a payment aggregator, Jio Payment Solutions will act as an intermediary for businesses, allowing them to accept various forms of online payments from customers, streamlining financial transactions across multiple platforms. This role will enhance Jio Financial Services’ influence in the financial technology sector, as payment aggregators serve as essential infrastructure for online businesses, bridging the gap between consumers and businesses.
The approval highlights a new phase for Jio Financial, which was spun off from Reliance Group last year with ambitions to expand its reach in India’s financial services industry. As India’s digital economy grows, the entry of Jio Payment Solutions into the payment aggregator space could enhance accessibility to digital payments and strengthen Reliance’s financial arm in a market where online payment solutions are in increasing demand.
