Brazil is witnessing a rapid rise in online sports betting, attracting foreign companies but raising alarms over its economic impact. While the government anticipates increased tax revenue, experts are concerned that gambling diverts money from consumer spending. Gabriel Galipolo, the incoming central bank governor, noted that this surge may hinder the benefits of rising incomes, as savings and consumption growth appear to be stalling due to the increased focus on betting.
Brazilians spent more than $12 billion on foreign betting platforms in the past year, placing the country among the world’s largest sports betting markets. Despite laws prohibiting the use of credit cards for betting, critics warn that gambling is taking a toll on household budgets, particularly among lower-income families. An increasing share of family income is being funnelled into betting, reducing spending on essentials like food, clothing, and healthcare.
The rapid growth of the gambling industry in Brazil has attracted major players like Betfair, Betsson, and Caesars Sportsbook, all keen to tap into the country’s 200 million sports enthusiasts. However, research from the U.S. indicates that legalised betting can lead to serious long-term consequences, such as rising credit card debt, bankruptcies, and economic instability for struggling families. Brazil now faces the challenge of balancing the potential economic benefits of the betting sector with the risks of increasing financial pressure on its citizens.
Qualcomm has approached Intel to discuss a potential acquisition, a move that could transform the semiconductor landscape. CEO Cristiano Amon is personally engaged in these early talks, which have yet to produce a formal offer. Reports suggest that Qualcomm is especially interested in Intel’s PC design unit and its overall portfolio as part of this exploration.
Intel, once the dominant force in chip manufacturing, has seen its stock plummet nearly 60% this year, highlighting its current vulnerability. A deal with Qualcomm would likely face intense scrutiny from antitrust regulators in the US, China, and Europe, possibly requiring Qualcomm to divest parts of Intel to gain approval.
If successful, this acquisition would mark a historic move in the tech sector, rivalling Broadcom’s attempted $142 billion takeover of Qualcomm in 2018. However, how Qualcomm would finance the deal, given its $13 billion cash reserves and Intel’s $122 billion valuation, remains unclear. Additionally, Qualcomm would need to navigate the complexities of managing Intel’s extensive manufacturing operations, a challenge for a company that currently relies on external contractors for chip production.
Intel is actively seeking to revitalise its business by prioritising AI processors and restructuring its operations, which includes pausing factory construction in Poland and Germany. As discussions with Qualcomm progress, both companies will need to navigate significant challenges in a rapidly changing market.
Apollo Global Management is considering a significant investment of up to $5 billion in Intel, according to a report by Bloomberg News. The offer comes at a challenging time for Intel, as its share value has plummeted nearly 60% since the beginning of the year. Discussions regarding this potential investment are still in preliminary stages, with Intel executives currently assessing the proposal.
While talks with Apollo are ongoing, the outcome remains uncertain, and the investment size could change. Intel has not provided comments on the report, and Apollo did not respond to further inquiries. Earlier this year, Apollo had announced plans to invest $11 billion in a joint venture linked to Intel’s new manufacturing facility in Ireland.
In addition to Apollo’s interest, Qualcomm is also exploring the possibility of acquiring Intel. Qualcomm’s CEO Cristiano Amon is personally involved in the negotiations, which are still in the early stages. Potential acquisition like this one could have transformative implications for the semiconductor industry.
Intel’s recent struggles have drawn attention from major players in the tech sector, highlighting the shifting landscape of the chip market. With both Apollo and Qualcomm looking to invest or acquire, Intel’s future direction remains a critical topic for industry analysts.
America’s Three Mile Island energy plant, infamous for the worst nuclear accident in US history, is preparing to reopen after Microsoft signed a 20-year deal to purchase power from the facility. The plant is scheduled to restart in 2028 following upgrades and will supply clean energy to support Microsoft’s growing data centres, especially those focused on AI. The agreement is pending regulatory approval.
Constellation Energy, the plant owner, confirmed that the reactor set to restart is separate from the unit involved in the 1979 accident, which, while not fatal, created significant public fear surrounding nuclear power. This deal represents a revival of interest in atomic energy, driven by increasing concerns about climate change and rising energy needs. The CEO of Constellation described this move as a “rebirth” of nuclear power, highlighting its potential as a dependable source of carbon-free energy.
The plant’s reopening is projected to create 3,400 jobs and add over 800 megawatts of carbon-free electricity to the grid, driving significant economic activity. Although the revival has faced some protests, it underscores a growing trend among tech companies, with Amazon also exploring nuclear energy to meet its expanding energy demands.
In 2024, the storage market is seeing notable advancements, especially in NAND flash technology, as key players like Samsung, Micron, and SK Hynix innovate to meet rising demands. Samsung has recently begun mass production of its 9th generation QLC V-NAND, boasting impressive enhancements in bit density and performance. This new model improves data retention and significantly lowers power consumption, addressing the growing need for efficient storage solutions in AI applications. Micron and SK Hynix are also pushing forward with their high-performance SSDs, reflecting a broader trend toward optimising storage for increased data demands.
Micron and SK Hynix are advancing their storage solutions as well, with Micron’s latest SSDs featuring 9th-generation TLC NAND technology that delivers impressive data transfer speeds. Meanwhile, SK Hynix is developing high-performance SSDs tailored for data centres. As the demand for storage continues to surge due to AI applications, there is a growing preference for higher-capacity SSDs, leading manufacturers to prioritise both TLC and QLC technologies in their offerings. This shift reflects the industry’s response to the increasing need for efficient and powerful storage solutions.
Market research forecasts that the demand for AI-related SSDs will surpass 45 exabytes in 2024, with the share of AI SSDs in the NAND flash market expected to grow significantly. Despite facing challenges in the PC and smartphone sectors, NAND flash revenue has risen, driven by strong demand from the AI industry. As companies ramp up production capacity, they are well-positioned to meet the increasing needs of data centres and AI applications. This trend underscores a transformative period for the NAND flash market, reflecting its critical role in supporting advancements in technology.
Demetris Skourides, the Chief Scientist, spoke at the Learning Innovation Summit 2024, stressing the significance of ethical AI development. He emphasised the EU AI Act’s role in establishing trustworthy AI systems that focus on ethics, transparency, and accountability. Skourides advocated for AI’s application in education, pointing out its ability to personalise learning, automate tasks, and enhance teaching environments.
He praised rapid AI advancements in Cyprus, with more than 50 companies leveraging the technology across key industries like healthcare and finance. Skourides highlighted the country’s commitment to upholding the EU AI Act, ensuring that AI systems meet the highest standards of accountability and ethics. The Chief Scientist also noted how Cyprus could generate new job opportunities through this AI revolution.
The potential for AI to transform education was a central theme. Skourides discussed the benefits of adaptive learning platforms, which can tailor lessons to individual students’ strengths, enabling each learner to reach their full potential. He urged educators to embrace AI, foreseeing a shift from rote memorisation to fostering creativity, critical thinking, and collaboration in the classroom.
Finally, Skourides called for a balanced approach to AI development. By equipping future generations with digital skills and ensuring that ethics remain central, AI’s power can be harnessed to drive both economic growth and innovation. He reaffirmed his commitment to advancing AI in education and collaborating with industry leaders to create an empowering learning environment.
Mercor, an AI-driven recruitment platform, has secured $30 million in a Series A funding round, bringing its valuation to $250 million. The round attracted high-profile investors, including tech figures Jack Dorsey, Peter Thiel, Quora CEO Adam D’Angelo, and former Treasury Secretary Larry Summers. Benchmark’s Victor Lazarte and Bill Gurley led the round.
The platform uses AI to help companies recruit talent from leading firms such as Apple, Alphabet, Meta, Microsoft, and Nvidia. With over 300,000 candidates now in its pool, Mercor is streamlining the hiring process for employers.
The company’s recent success reflects a growing trend of significant investments in AI startups. Earlier this month, Safe Superintelligence, co-founded by former OpenAI chief scientist Ilya Sutskever, raised $1 billion to advance its AI development efforts.
Paris-based startup Inbolt has raised €15 million in a Series A round led by Exor Ventures, with additional support from Bpifrance and industry entrepreneurs. The company specialises in real-time robot guidance systems powered by AI. With existing investors like MIG Capital and BNP Paribas involved, Inbolt’s total funding now stands at €20 million.
Inbolt’s 3D vision technology is designed to enhance production line efficiency, enabling robotic arms to function more accurately and at speeds 100 times faster than competitors. The company’s systems are already deployed in over 20 factories across Europe and the United States, with plans to expand into Japan and the US. Inbolt’s innovations are particularly useful for industries such as automotive and electronics.
Manufacturers face increasing pressure to automate their processes due to labour shortages and the need for improved working conditions. Inbolt’s GuideNOW solution helps meet these challenges with AI-powered 3D cameras that enable real-time robot adjustments in complex environments. Stellantis, one of Inbolt’s early clients, reportedly saved over €3.1 million in a single year using their technology.
In addition to international expansion, Inbolt will use the funding to develop new products and grow its team. With a surge in demand, the company aims to continue improving the flexibility of robotic systems for various industries.
Russian retailers have started pre-sales of Apple’s iPhone 16, despite the company’s export ban after Moscow invaded Ukraine. Leading stores M.Video-Eldorado and mobile operator MTS are the first to offer the new devices, with M.Video planning deliveries next week. However, Russian consumers face significantly higher prices, paying hundreds of dollars more than U.S. customers.
Despite Apple halting product sales and services like Apple Pay in Russia in 2022, the iPhone 16 is still available through parallel imports from countries that have not enforced sanctions, such as Turkey, Kazakhstan, and China. The Kremlin has endorsed this grey market system to keep foreign goods accessible. However, prices are much higher in Russia, with the 128GB iPhone 16 starting at 112,999 roubles ($1,225) and the 1TB iPhone 16 Pro Max priced at 249,999 roubles ($2,710), significantly more than U.S. prices.
Despite sanctions, Western technology remains highly sought after in Russia. However, the Russian government has urged officials to stop using iPhones, claiming they are compromised by Western intelligence agencies, a claim Apple denied.
Samsung has rolled out its One UI 6.1.1 update for the Galaxy Tab S8 series in South Korea. The update, initially available for Galaxy smartphones, introduces new Galaxy AI features and various improvements to One UI. The software upgrade applies to the Galaxy Tab S8, S8+, and S8 Ultra, with firmware versions X700XXU8CXHB, X800XXU8CXHB, and X900XXU8CXHB, respectively.
The update is significant, with a download size of over 2.8GB. The Galaxy AI features included in the upgrade were previously seen on the Galaxy Z Flip 6 and Galaxy Z Fold 6. Besides the AI enhancements, users will also experience improved Samsung stock apps and refined One UI functionality.
Samsung tablet users in South Korea can now install the update by heading to their device settings and manually downloading the software. For Galaxy Tab S8 series owners outside South Korea, the update is expected to roll out soon across various regions.
