Toyota and Nippon Telegraph and Telephone (NTT) plan to invest 500 billion yen ($3.27 billion) by 2030 to create an AI-driven platform to reduce traffic accidents. Announced in a joint statement, the Japanese automaker and telecom giant aims to launch the platform by 2028, using extensive data to support driver-assistance technology. This project, initiated amid rising pressure on Japanese automakers to compete in the autonomous driving space, is expected to enhance safety features such as improved visibility in urban areas and smoother expressway merging.
The companies intend the platform to benefit not only their own operations but also government and industry partners, setting a long-term goal to minimise traffic accidents. Toyota and NTT, who first collaborated on 5G-connected car technology in 2017, see this project as part of a broader vision for zero-accident mobility, aiming for widespread adoption by 2030.
Toyota’s existing investments in autonomous technology include Woven by Toyota, a unit established in 2021 focused on AI mobility. Woven by Toyota is also developing the Arene automotive software platform and Woven City, a testing hub in Shizuoka. As part of these advancements, NTT and Toyota also plan to test self-driving technology as early as 2025.
Interest in cryptocurrency has seen new applications for Bitcoin, including its recent adoption in life insurance by Meanwhile, which claims to be the first company to denominate policies in Bitcoin. Rather than using dollars, Meanwhile’s life insurance policies operate entirely in Bitcoin, covering everything from premium payments to policy loans and payouts.
Meanwhile offers whole life insurance, so holders are covered for life. Director of Wealth and Asset Management, Danny Baer, highlights unique tax advantages, particularly thetax-free policy loan option. This allows policyholders to borrow Bitcoin against the policy’s value. As Bitcoin increases in price, the value of the policy and the amount that can be borrowed also rise, and the loaned Bitcoin’s cost basis adjusts to the current rate.
Baer suggests that if Bitcoin’s price skyrockets over time, the ability to borrow against the policy without incurring capital gains tax could be highly beneficial for long-term holders. Meanwhile’s Bitcoin-denominated approach appeals to those looking to invest in an asset with a low time preference, which complements the long-term nature of whole life insurance.
Big technology firms, including Microsoft and Meta, are significantly increasing their investments in AI data centres to meet soaring demand, but Wall Street is looking for quicker returns on these expenditures. Both companies reported rising capital expenses due to their AI initiatives, with Alphabet also indicating that its costs would remain elevated. Amazon is expected to follow suit in its upcoming earnings report.
This surge in capital spending could impact profit margins, causing concern among investors. Shares of major tech companies, including Meta and Microsoft, fell by around 4% in premarket trading, despite reporting better-than-expected profits for the July-September quarter. Analysts warn that while the race to build AI capacity is intensifying, it will take time for these investments to yield returns.
Microsoft’s capital expenditures for a single quarter now surpass its total annual spending from prior years. The company noted a 5.3% increase in spending, amounting to $20 billion, while also predicting further increases related to AI. However, they warned of potential slowdowns in growth for their Azure cloud business due to data centre capacity constraints. Similarly, Meta anticipates a “significant acceleration” in AI infrastructure costs next year.
The tech industry is experiencing bottlenecks, particularly as chipmakers like Nvidia struggle to keep up with the demand for AI chips. Advanced Micro Devices has also reported that AI chip demand is outpacing supply, limiting growth potential. Despite these challenges, both Microsoft and Meta maintain that it is still early in the AI cycle and emphasise the long-term benefits of their investments, echoing earlier experiences during the development of cloud technology.
De Nederlandsche Bank (DNB), the Netherlands’ central bank, has fined crypto exchange Bybit €2.2 million ($2.4 million) for operating in the country without the required registration. Bybit’s non-compliance with the Anti-Money Laundering and Anti-Terrorist Financing Act triggered the fine, as the exchange had not registered to support oversight and prevent illicit financial flows. The legislation, enacted in 2020, mandates that crypto providers register to reduce risks tied to anonymous transactions.
DNB stated that Bybit’s non-compliance hindered its ability to report suspicious transactions to Dutch authorities, a critical component of financial oversight. Although DNB acknowledged the severity and duration of the breach, it reduced the fine due to Bybit’s efforts to resolve the issue by transferring Dutch customers to local partner SATOS B.V., which holds a compliant operating licence.
Acknowledging the fine, Bybit underscored its commitment to regulatory adherence. CEO Ben Zhou highlighted Bybit’s actions in 2022 to mitigate potential risks, affirming the company’s goal of responsible growth through close cooperation with European regulators.
The European Commission is preparing to investigate Chinese online retail giant Temu for possibly breaching rules designed to curb illegal product sales, according to sources cited by Bloomberg News. The inquiry follows an initial request from the Commission on 11 October for Temu to outline its efforts to prevent illegal items from being sold on its platform under the EU’s Digital Services Act (DSA).
Temu, a unit of PDD Holdings, has been classified as a ‘very large online platform’ (VLOP) by the EU, a designation that requires strict compliance with measures to counteract illegal content and counterfeit goods. While Temu submitted its response to the EU’s information request by the 21 October deadline, the Commission will determine its next steps after reviewing the data provided. Neither the European Commission nor Temu has commented on the impending investigation.
The Digital Services Act mandates platforms with more than 45 million users to ensure they are taking adequate steps to combat illegal content. The outcome of this investigation could have significant implications for both Chinese, Temu and other online marketplaces operating within the EU.
Amid growing geopolitical tensions, Rick Tsai, CEO of Taiwan’s top chip designer MediaTek, emphasised the company’s commitment to regulatory compliance in a recent earnings call. Tsai acknowledged the complex challenges posed by international relations but reassured stakeholders that MediaTek’s strong compliance program is designed to uphold ethical standards across diverse markets. He added that the company “will not do, shall we say, strange things” and is focused on protecting shareholder interests.
Taiwan, home to leading semiconductor firms like MediaTek and TSMC, plays a pivotal role in the global tech landscape, supplying major players in AI, including Nvidia. However, the tech sector faces rising pressures as Taiwan grapples with increasing military threats from China, which claims the island as its territory. Additionally, the upcoming US presidential election adds uncertainty; candidate Donald Trump has criticised Taiwan’s impact on the US chip market, proposing tariffs on imports and suggesting greater restrictions on international tech firms.
MediaTek, a TSMC customer, also contends with existing US limits on partnerships with Chinese tech companies such as Huawei. Recently, TSMC suspended shipments to a client after finding a chip intended for a different product had reached Huawei. Despite these challenges, MediaTek’s stock has risen by 27% this year, reflecting investor confidence in Taiwan’s enduring role within the tech industry.
AMD’s shares dropped 8% on Wednesday as the chip giant’s revenue forecast fell short of investor hopes, despite strong gains from the AI-driven chip boom. The forecast suggests AMD’s AI chip sales could hit $5 billion by 2025, but CEO Lisa Su warned that production would struggle to meet demand, likely tightening supply through next year. This cautious outlook could see AMD lose up to $20 billion in market value, underscoring investor concerns.
Analysts noted that while AMD’s AI performance is promising, demand may outpace supply, raising risk for the company’s growth prospects. Stacy Rasgon of Bernstein observed that for an “AI name” like AMD, even modest guidance could raise eyebrows, especially with expectations for business “lumpiness” through 2025. Unlike AMD, Nvidia—a key AI chip competitor—showed little market impact, reflecting investor confidence in its supply stability.
AMD’s stock, up nearly 156% since late 2022, is now trading at around 32 times its forward earnings, slightly lower than Nvidia’s 36 times. Despite the recent dip, analysts still see upside potential, with the median target price set at $187.50, or about 13% above AMD’s last close.
Nubank, the Brazilian digital lender, will soon enter the telecom sector by introducing mobile services for customers in Brazil. The company aims to launch these services in the coming months, marking a significant expansion beyond its traditional financial offerings.
With over 95 million customers in Brazil alone, Nubank is one of the world’s largest digital lenders. Listed on the New York Stock Exchange, the fintech is valued at over $70 billion. By the end of June, it had more than 104 million customers across Brazil, Mexico, and Colombia.
The new mobile service, branded as NuCel, will provide coverage to 93% of Brazilian territory. It will operate using Claro’s infrastructure, a Mexican telecom company under the America Movil group. Nubank plans to offer three subscription options, with monthly costs ranging from 45 to 75 reais, payable through its credit cards.
This telecom launch is positioned as a strategic move to enhance Nubank’s portfolio. The company said it aims to deliver a better customer experience and diversify beyond financial services through this new venture.
OpenAI is collaborating with Broadcom and TSMC to develop its first custom-designed chip, while supplementing its infrastructure with AMD chips alongside those from Nvidia to meet high computing demands. OpenAI initially considered establishing its own chip-manufacturing network but set the idea aside due to costs and time requirements. Instead, the company is focused on partnerships and in-house chip design to reduce costs, similar to strategies from industry giants like Amazon, Google, and Microsoft.
Broadcom’s stock rose 4.5% following news of the collaboration, while AMD shares gained 3.7%. The partnership will leverage Broadcom’s experience in fine-tuning chip designs for manufacturing and secure production capacity with TSMC, aiming for the first in-house chips by 2026. OpenAI’s increased use of AMD chips on Microsoft’s Azure platform underscores the growing competition Nvidia faces in the AI chip market, where it currently holds over 80% market share.
With soaring expenses from training and deploying models, OpenAI is seeking to streamline operations and cut compute costs. Nvidia remains an essential partner for OpenAI’s advanced Blackwell GPUs, even as OpenAI expands its chip sourcing to support more affordable, efficient AI development.
A new fashion platform, Aesthetic, is launching with a mission to become the ‘Shazam for clothes.’ Using AI-powered technology, the company offers a service called Alma that helps users identify clothing they spot on social media. By sending a post link to Aesthetic via TikTok or Instagram, users are directed to the brand’s website, where they can shop for the outfit or save it to a Lookbook collection.
CEO LJ Northington was inspired to create Aesthetic after noticing a lack of tech innovation in e-commerce. His initial ideas for personal shopping didn’t quite work until he realised that analysing social media feeds could reveal personal style preferences. Northington believes his platform allows users to engage with fashion inspiration without leaving their favourite apps.
Aesthetic is also exploring ways for creators and brands to monetise their styles through personalised pages. Northington mentioned discussions with record labels about allowing artists to promote their trends, such as Beyoncé’s silver-inspired looks for her ‘Renaissance’ tour or Charli XCX’s neon-green fashion from Brat Summer.
The app has attracted funding from Zeal Capital and Slow Capital, with further support from Google Cloud’s AI startup programme. Northington aims to achieve profitability through efficient use of AI. His background includes business development for Westbrook and a psychology degree from Harvard, which has shaped his approach to understanding consumer behaviour.
