The surge in AI exchange-traded funds (ETFs) reflects the growing investor enthusiasm for AI as fund managers launch new options to capture market interest. According to Morningstar, over a third of the AI-focused ETFs on the market were introduced in 2024, raising total assets in this category to $4.5 billion—close to the $5.5 billion held by nuclear-themed ETFs and far outpacing the $1.37 billion in cannabis funds. This growth is partially driven by high-profile gains, like chipmaker Nvidia’s stock surge of over 200% in the last year, which underscores AI’s profit potential, said Morningstar senior analyst Daniel Sotiroff.
BlackRock has added two new actively managed AI ETFs to its lineup, aiming to capture emerging opportunities in AI as the technology evolves. “The AI market is going to change dramatically,” noted Tony Kim of BlackRock, highlighting that what AI represents today will continue to shift. Bank of America analysts agree, describing the competition in AI among tech giants like Microsoft and Amazon as an “arms race.” This year, capital spending on AI by these firms is expected to total $206 billion, marking a 40% increase over last year, while venture capital funding for AI startups is projected to rise 27%, reaching $79.2 billion.
Despite the enthusiasm, AI-focused funds haven’t consistently outperformed the broader market; for instance, the Global X Artificial Intelligence & Technology ETF has gained about 20% in 2024, trailing the S&P 500’s 22% rise. Amplify ETFs recently shifted an existing cloud-computing ETF to focus on AI opportunities, illustrating the industry’s shift toward differentiating AI investment strategies. Nathan Miller of Amplify said that capturing the potential of AI-related capital spending remains a priority for long-term growth.
A new app called Loops is aiming to be the TikTok of the fediverse, an open-source social network ecosystem. Loops, which just opened for signups, will feature short, looping videos similar to TikTok’s format. Although still in development, the platform plans to be open-source and integrate with ActivityPub, the protocol that powers other federated apps like Mastodon and Pixelfed.
Loops is the latest project from Daniel Supernault, creator of Pixelfed, and will operate under the Pixelfed umbrella. Unlike mainstream social media, Loops promises not to sell user data to advertisers, nor will it use content to train AI models. Users will retain full ownership of their videos, granting Loops only limited permissions for use.
Like other fediverse platforms, Loops will rely on user donations for funding rather than investor support, with plans to accept contributions through Patreon and similar platforms. The app will also allow users on other federated networks, like Mastodon, to interact with Loops content seamlessly. Loops is currently seeking community input on its policies and looking for moderators to guide the platform’s early stages.
Meta has launched NotebookLlama, an ‘open’ version of Google’s NotebookLM generate-a-podcast tool, but using Meta’s Llama AI models. NotebookLlama processes uploaded text files, such as PDFs or blog posts, creating a podcast-style summary with dramatisation and interruptions, followed by conversion to speech through open text-to-speech models. However, early feedback highlights a robotic, less natural sound, with voices sometimes overlapping awkwardly.
Meta’s researchers acknowledge the audio limitations and suggest that quality could improve with better text-to-speech models. They also propose evolving the format to feature two AI agents debating topics rather than a single model handling the outline.
Despite various efforts to replicate NotebookLM’s podcast capabilities, all still struggle with AI ‘hallucinations,’ making the generated content prone to inaccuracies.
Microsoft shareholders will vote on 10 December on whether the tech company should assess adding Bitcoin to its balance books, following a proposal filed with the US securities regulator. While the National Centre for Public Policy Research (NCPPR) urged Microsoft to consider Bitcoin investments, highlighting MicroStrategy’s profitable strategy and rising corporate adoption, Microsoft’s board advised against it.
The board argued that they already reviewed various assets, including Bitcoin, as part of their investment evaluations. The NCPPR, however, stated that Bitcoin could act as an inflation hedge, suggesting that even a small investment—around 1% of assets—might offer long-term benefits.
Despite interest from some shareholders, Microsoft’s current focus remains on artificial intelligence rather than blockchain or cryptocurrency investments. Though it once accepted Bitcoin payments for its Xbox store, this practice was discontinued in 2018, and Bitcoin investment is viewed as unlikely at present.
OpenAI is reportedly set to launch a powerful new AI model, code-named Orion, with an initial release expected by December. Unlike its predecessors, Orion will be selectively available at first, with trusted partner companies given early access to integrate the model into their products. OpenAI’s primary partner, Microsoft, is preparing to host Orion on its Azure platform as early as November.
While some within OpenAI view Orion as a successor to GPT-4, it is unclear whether it will be formally named GPT-5. OpenAI has not confirmed the launch date, and CEO Sam Altman recently downplayed the existence of Orion. Nonetheless, speculation continues as an executive hinted that Orion may be up to 100 times more powerful than GPT-4, moving the company closer to its ambitious goal of artificial general intelligence.
Reports suggest that synthetic data from OpenAI’s 0.1 model, released earlier this year, helped train Orion. OpenAI has teased the model’s arrival through cryptic social media posts, with Altman recently referencing the upcoming “winter constellations” — a possible allusion to Orion, a prominent winter constellation.
Orion’s anticipated release aligns with OpenAI’s completion of a $6.6 billion funding round, with restructuring towards a for-profit model. The company, however, is facing notable internal changes, including the recent departures of CTO Mira Murati and other key research leaders, amid the heightened focus on this next-generation AI model.
China has reaffirmed its support for Apple’s business operations in the country, welcoming further expansion by the US tech company. In a meeting with Apple CEO Tim Cook, Chinese Commerce Minister Wang Wentao stated that Apple is welcome to deepen its presence in the Chinese market, according to a statement from the ministry. This sentiment aligns with earlier discussions between Cook and China’s Minister for Industry and Information Technology in Beijing.
Wang highlighted China’s interest in stabilising Sino-US economic and trade relations, expressing a commitment to returning these ties to a healthier state through ongoing communication between the government and businesses. Such exchanges, he said, could foster a stronger, more stable trade partnership between the two countries.
China’s government also assured foreign companies, including Apple, of continued improvements to its business environment and high-quality services, signalling its openness to international investments. However, Wang emphasised that prioritising national security over trade cooperation could harm these efforts, subtly suggesting that an overemphasis on security concerns may disrupt normal economic interactions.
The International Telecommunication Union (ITU) will prioritise new global standards for AI and digital public infrastructure (DPI), with the aim of fostering interoperability, trust, and inclusivity. The resolution, adopted at the World Telecommunication Standardisation Assembly (WTSA) held in Delhi, was led by India, which has promoted DPI platforms such as Aadhaar and UPI. This adoption underscores DPI’s importance as a technology that can bridge access to essential services across both public and private sectors, sparking particular interest from developing economies.
This year’s WTSA, attended by a record-breaking 3,700 delegates, also introduced standardisation frameworks for sustainable digital transformation, AI, and the metaverse, as well as enhancements to communications in vehicular technology and emergency services. These efforts aim to facilitate safer, more reliable AI innovations, particularly for nations lacking frameworks for emerging technologies. ITU Secretary General Doreen Bogdan-Martin emphasised that strong AI standards are essential for building global trust and enabling responsible tech growth.
India’s influence at WTSA highlights its commitment to shaping the global tech landscape, including standards for next-generation technologies like 6G, IoT, and satellite communications. To that end, the assembly also introduced study group (ITU-T Study Group 21), focusing on multimedia and content delivery standards.
Britain’s Competition and Markets Authority (CMA) is investigating the partnership between Alphabet, Google’s parent company, and AI startup Anthropic due to concerns about competition. Regulators have grown increasingly cautious about agreements between major tech firms and smaller startups, especially after Microsoft-backed OpenAI sparked an AI boom with ChatGPT’s launch.
Anthropic, founded by former OpenAI executives Dario and Daniela Amodei, received a $500 million investment from Alphabet last year, with another $1.5 billion promised. The AI startup also relies on Google Cloud services to support its operations, raising concerns over the competitive impact of their collaboration.
The CMA began assessing the partnership in July and has set 19 December as the deadline for its Phase 1 decision. The regulator will determine whether the investigation should proceed to the next stage. Anthropic has pledged full cooperation, insisting that its strategic alliances do not compromise its independence or partnerships with other firms.
Alphabet has emphasised its commitment to fostering an open AI ecosystem. A spokesperson clarified that Anthropic is not restricted to using only Google Cloud services and is free to explore partnerships with multiple providers.
Nvidia has deepened its ties with major Indian firms, including Reliance Industries, as it seeks to capitalise on the country’s growing AI market. At an AI summit in Mumbai, CEO Jensen Huang announced the launch of a new Hindi-focused AI model, Nemotron-4-Mini-Hindi-4B, designed to help businesses develop language-specific AI tools. This is part of Nvidia’s broader strategy to boost computing infrastructure in India, which Huang said will expand nearly 20 times by the end of this year.
The new model is tailored for Hindi, one of India’s 22 official languages, and aims to support companies in creating AI-driven solutions for customer service and content translation. Tech Mahindra is the first to adopt Nvidia’s offering, using it to develop a custom AI model, Indus 2.0, which also focuses on Hindi and its various dialects. Nvidia is also working with major IT players like Infosys, TCS, and Wipro to train half a million developers in AI.
In addition, companies such as Reliance and Ola Electric will use Nvidia’s “Omniverse” technology for virtual factory simulations, enhancing their industrial planning capabilities. The summit highlighted India’s growing significance in the global AI landscape as the country accelerates efforts to develop its semiconductor industry and AI infrastructure.
Apple has introduced ChatGPT integration with the release of iOS 18.2, iPadOS 18.2, and macOS Sequoia 15.2, allowing developers to explore new features tied to its Apple Intelligence system. The integration enables ChatGPT to enhance Siri’s knowledge and power new writing tools, along with other features like image generation and cleanup tools.
Users who opt into both Apple Intelligence and ChatGPT will be able to leverage OpenAI’s models without needing a separate ChatGPT account, though non-premium users will face limitations on the number of queries. Siri can now call on ChatGPT for certain tasks, such as generating recipes or helping with travel plans, making the virtual assistant more versatile.
Apple Intelligence also includes ‘Compose,’ which lets users generate text based on prompts in supported apps. Alongside this, users can experiment with OpenAI’s image generation or create customised emojis through Apple’s Genmoji tool, offering a more creative and intuitive user experience.
