This holiday season, millions of shoppers are set to buy gifts online, but tech companies are vying to make AI agents the new shopping assistants. Platforms like Perplexity, OpenAI, and Google are developing AI tools that can browse websites, select products, and even complete purchases. Perplexity recently launched a shopping agent that combines navigation and checkout features, though it’s still ironing out inefficiencies.
AI-driven shopping isn’t without challenges. Early tests show agents struggling with stock availability and delayed purchases, while companies like Perplexity rely on human oversight to address errors. Privacy concerns are also emerging, especially with AI systems accessing billing information. However, partnerships like Perplexity’s with Stripe, which uses single-use payment cards, aim to mitigate risks and provide secure transactions.
These tools could revolutionise online shopping by saving time and uncovering hidden deals, but they also threaten traditional e-commerce models. Retailers and advertisers may resist as fewer consumers visit storefronts and targeted ad opportunities shrink. Despite the hurdles, 2025 is expected to see significant advancements in AI shopping agents, promising a glimpse into the future of effortless online retail.
France, Germany, and Sweden have urged the next European Commission to bolster Europe’s battery production to meet green transition goals without becoming reliant on Chinese imports. In a joint paper, the countries emphasised the need for streamlined regulations, faster project approvals, increased funding, and alternative sources for raw materials like lithium.
The call comes as Sweden’s Northvolt faces financial difficulties, with fears that Europe’s dependence on Chinese manufacturing could mirror its earlier reliance on Russian gas. Leaders stressed the urgency of securing the region’s competitiveness.
Incoming EU leadership is expected to outline strategies for sustainable economic growth and climate goals within its first 100 days, focusing on policies that support scaling up European battery initiatives.
AI hardware startup Tenstorrent has secured a $693M Series D funding round, valuing the company at over $2.6B. The investment, led by Samsung Securities and AFW Partners, includes participation from Hyundai and Bezos Expeditions, among others. Founded in 2016 and based in Toronto, Canada, Tenstorrent aims to challenge Nvidia’s dominance in the AI chip market.
Tenstorrent’s CEO, Jim Keller, a renowned microprocessor engineer, announced plans to develop AI training servers and expand its engineering team using the new capital. The company has also committed to releasing a new AI processor every two years, with signed customer contracts amounting to nearly $150M. This move positions Tenstorrent among a growing number of startups racing to innovate in AI hardware, alongside competitors such as Axelera, Etched, and Groq.
The funding highlights escalating investor interest in alternative AI chipmakers as demand for cutting-edge computing solutions soars. With its ambitious roadmap and backing from high-profile investors, Tenstorrent is poised to carve out a significant share of the burgeoning AI hardware market.
Wise, the British money transfer firm, has enacted a formal remediation plan following a regulatory review by the Belgian National Bank (BNB) regarding anti-money laundering compliance. In early 2022, the BNB identified that Wise lacked proof of address for hundreds of thousands of customers.
The company worked closely with the regulator to address the issues, implementing a plan requiring customers to provide proof of address within weeks. Non-compliant accounts were frozen as part of the measures. Wise stated it has fully resolved the concerns.
Founded in 2011, Wise aims to simplify international money transfers and is listed on the London Stock Exchange. The BNB declined to comment further on the matter.
Dutch semiconductor company Nexperia confirmed its commitment to comply with US restrictions following the addition of its Chinese parent company, Wingtech, to the US Department of Commerce’s entity list. Wingtech now faces licensing requirements for accessing US technology, a move targeting companies seeking sensitive chip manufacturing technologies.
A Nexperia spokesperson clarified that the restrictions imposed on Wingtech do not directly impact Nexperia or its subsidiaries. However, Nexperia will ensure compliance where its interactions with Wingtech are concerned, reflecting its commitment to adhere to international trade regulations.
As one of the largest manufacturers of basic computer chips, including diodes and transistors, Nexperia has been expanding its global footprint. Earlier this year, the company increased its operations in Hamburg, Germany, signalling continued growth despite challenges linked to its parent company.
The US Commerce Department added Wingtech to the list, citing concerns over its efforts to acquire technologies crucial to the defence industries of the US and its allies.
China has imposed a ban on exports of key minerals, including gallium, germanium, and antimony, to the US, citing national security concerns. The new restrictions, which take immediate effect, are part of Beijing’s broader effort to control dual-use materials that have both civilian and military applications. These minerals are critical in semiconductor production and military technology, such as infrared systems and night vision goggles. The export ban also includes graphite items, which will face stricter end-use reviews.
This move follows the US’s recent crackdown on China’s semiconductor industry, which included new export curbs targeting 140 Chinese companies. The escalation is part of the ongoing trade tensions between the two economic giants. While the US has not been a major market for these minerals this year, China’s dominance in their production, accounting for over 90% of gallium and germanium, makes the move significant for global supply chains.
Experts warn that the restrictions could further tighten access to these essential materials, particularly as prices for antimony have surged by over 200% this year. With the US also imposing its own tariffs and export controls, the situation is expected to intensify as both countries brace for continued economic rivalry, especially with President-elect Donald Trump’s stance on China.
South Korean AI chipmakers Rebellions and Sapeon Korea have officially merged, forming a new company valued at approximately USD 928 million. The combined entity will continue under the name “Rebellions,” led by CEO Sunghyun Park. The merger aims to enhance the company’s global competitiveness in the fast-growing AI chip market by leveraging expertise across South Korea‘s telecom, government, and semiconductor sectors.
The merger brings together Rebellions, a fabless AI chip startup established in 2020, and Sapeon Korea, an affiliate of SK Telecom, to combine their strengths in AI chiplet technology. This integration is expected to accelerate innovation and improve efficiency, particularly in developing next-generation AI chips like REBEL, designed to meet the increasing demands of AI applications.
Looking ahead, Rebellions plans to expand internationally, with targeted entry into markets such as the United States, Saudi Arabia, and Japan. Strategic partnerships, including collaborations with SK Telecom and SK hynix, will help fuel the company’s global ambitions and support its expansion efforts.
The European Central Bank (ECB) has released its second progress report on the development of the digital euro, marking the halfway point of the preparatory phase. The report addresses key issues such as holding limits for the central bank digital currency (CBDC) and the harmonisation of laws to ensure universal standards. The Rulebook Development Group is leading efforts with seven workstreams involving market participants and central banks.
User preferences on holding limits are being studied, with a potential solution being a ‘reverse waterfall’ system that transfers excess digital euros to fiat in linked accounts. Offline transaction solutions are also under consideration, although specific details remain limited. Meanwhile, discussions continue over competition between European and non-European financial service providers, as well as the development of technical services such as wallets.
The ECB aims to improve user experience, offering cash-like privacy for those prioritising discretion. ECB executive board member Piero Cipollone previously assured that the digital euro would provide greater privacy than current commercial options. A final decision on the digital euro’s launch is expected in October 2025, with the next progress report due in mid-2025.
Washington’s latest restrictions on semiconductor exports to China have heightened trade tensions between the world’s two largest economies, fueling concerns about potential Chinese countermeasures. Beijing, which has vowed to protect its interests, possesses several tools to retaliate against US firms, including tightened security reviews and trade restrictions.
China has already wielded security reviews against US companies, such as barring government purchases of Micron products in 2022. Analysts warn Intel, a significant player in China’s chip market, could face similar scrutiny. Additionally, US firms have historically reported bureaucratic hurdles like customs delays and intensified inspections during strained relations, underscoring the broader risks of doing business in China.
Beijing also maintains its ‘unreliable entities list,’ targeting foreign companies that are seen as violating Chinese interests. Actions under this framework include probes into firms like PVH Corp for compliance with US restrictions on Xinjiang cotton. Meanwhile, export controls on critical minerals, such as gallium and graphite—key to chipmaking and electric vehicles—are emerging as another leverage point in the escalating trade conflict.
China’s expanded oversight of dual-use technologies, effective December 1, adds another layer of control. By regulating items with civilian and military applications, Beijing aims to monitor US reliance on its supply chains. As tensions rise, both sides face economic and technological repercussions that could redefine global trade dynamics.
Chinese semiconductor firms targeted by new US export controls are doubling down on localising their supply chains and leveraging stockpiled resources to maintain production. The restrictions, the third major US crackdown in three years, impact 140 companies and focus on chipmaking equipment, software, and high-bandwidth memory. Despite the curbs, Chinese chip stocks saw slight gains as analysts noted the measures were less severe than expected.
Key companies like Naura Technology and Empyrean have vowed to accelerate domestic technology development. Some, such as Beijing Huafeng Test & Control Technology, reported fully localised supply chains. While the measures hit China’s reliance on foreign manufacturing equipment, imports of semiconductor machinery surged by a third this year, showing resilience in the face of external pressures.
The exclusion of ChangXin Memory Technologies (CXMT), a major AI chip component maker, surprised analysts. The move eased concerns for South Korean suppliers reliant on Chinese revenue, with shares of key partners like Jusung Engineering and Mirae Corp rebounding. The latest curbs reflect ongoing efforts to balance US security goals with the global semiconductor market’s interdependencies.
