Dutch economy minister Dirk Beljaarts revealed a plan to form a ‘coalition of the willing’ within the EU to strengthen the bloc’s computer chip industry and compete globally with the US and China. At a G7 industry ministers’ meeting in Rome, he stressed the importance of EU nations working together to set up production, assembly, and packaging facilities. While the Netherlands is home to leading chip tool maker ASML, Beljaarts emphasised that other EU countries must also build their semiconductor industries.
Beljaarts expressed the Netherlands’ readiness to lead this initiative, collaborating with Italian Industry Minister Adolfo Urso to bring the plans to life. Although the Netherlands is not a G7 member, its influence in the tech sector, as the world’s 18th largest economy, secured its invitation to the meeting. The EU’s chip strategy has recently faced challenges, particularly after the departure of Thierry Breton, the former EU Commission industry chief and architect of the EU Chips Act. The act, valued at €43 billion, aims to boost Europe’s share of the global chip market to 20% by 2030.
In a separate meeting, Beljaarts spoke with US Secretary of Commerce Gina Raimondo, discussing potential areas of cooperation. This discussion took place amid anticipated US export restrictions on advanced semiconductor equipment to China, which could impact ASML. However, Beljaarts clarified that the talks focused on collaboration rather than export limitations.
Industry ministers from the G7 advanced democracies have agreed that non-market practices in the semiconductor industry pose an urgent challenge that requires collective action. This consensus was announced by the Italian presidency and is a response to growing concerns about China’s influence in the sector. During the G7 summit in June, leaders had previously pledged to address what they called unfair business practices by China, particularly as the country aggressively advances its semiconductor manufacturing capabilities.
The majority of global semiconductor production takes place in South Korea and Taiwan, with Taiwan’s closeness to mainland China heightening concerns about potential military conflicts that could disrupt global supply chains. Due to Taiwan’s leadership in advanced chip manufacturing, major economies such as the US and European nations have enacted legislation to enhance domestic semiconductor production. Initiatives like the US CHIPS Act and corresponding European measures have allocated substantial funding to incentivise companies to set up chip production facilities within their countries.
Alongside semiconductor issues, the newly established G7 task force will also focus on undersea cable connectivity, which has grown increasingly critical. Recent outages in major undersea cables have underscored the necessity for a stable and secure global internet infrastructure. This expansion of the G7’s agenda aims to address broader technological stability, moving beyond semiconductor concerns to encompass essential aspects of digital connectivity.
Stripe has announced a new collaboration with Nvidia to enhance its AI offerings and improve fraud detection. The deeper partnership will see Stripe integrating Nvidia’s advanced AI technology, enabling global developers and enterprises to access GPUs and AI software through Stripe’s payment platform.
This collaboration highlights Stripe’s focus on leveraging Nvidia’s capabilities to support AI products. Stripe has introduced new features, including usage-based billing and enhanced global payment methods, to accommodate AI products that are international from the start.
Patrick Collison, Stripe’s co-founder, praised Nvidia’s role in advancing AI technology, while Nvidia’s CEO, Jensen Huang, recognised Stripe’s leadership in enabling businesses to use AI to fuel growth. The partnership comes as Stripe continues to integrate AI into services like Stripe Radar, which recently received AI-driven upgrades to boost fraud prevention.
Stripe, valued at $70bn as of July, has consistently relied on Nvidia’s computing platform to train its machine learning models. This expanded partnership is expected to drive further growth and innovation in AI technology.
Infosys and Microsoft are expanding their collaboration to drive the global adoption of generative AI and Microsoft Azure. The partnership is set to enhance customer experiences and increase the value of their technology investments across various industries such as finance, healthcare, and telecommunications.
Infosys, an early adopter of GitHub Copilot, currently has over 18,000 developers who have generated more than seven million lines of code through the tool. The company has also launched a GitHub Centre of Excellence to support AI and Cloud solutions like Infosys Topaz, Cobalt, and Aster, aimed at transforming business operations globally.
Customers will have access to a variety of solutions through Azure Marketplace, allowing them to benefit from their Microsoft Azure Consumption Commitment (MACC). Microsoft’s Chief Partner Officer, Nicole Dezen, highlighted the potential of this collaboration to drive AI innovation and improve employee and customer experiences.
The growth of AI developer productivity could potentially add over $1.5 trillion to the global GDP by 2030, with GitHub Copilot playing a key role in boosting efficiency. More than one million developers and 20,000 organisations have adopted GitHub Copilot to date.
Amazon is introducing new technologies designed to speed up deliveries and online shopping decisions. Announced on Wednesday, the company’s Vision Assisted Package Retrieval system will be installed in 1,000 electric delivery trucks starting next year. This system uses cameras and LED projectors to guide delivery workers to the correct packages, cutting down the time needed for each delivery.
Amazon also enhances its shopping experience with AI software to help customers make faster and more informed purchasing decisions. The software provides detailed information and product recommendations, from electronics to pet supplies, reducing the need for extensive research. These tools aim to improve customer satisfaction by making the buying process more efficient.
In addition, Amazon plans to open smaller warehouses attached to Whole Foods locations to offer a broader range of products not carried in-store. The first hybrid stores will open in Pennsylvania next year, allowing customers to order items like soft drinks alongside their grocery purchases for a seamless checkout experience.
Amazon has introduced AI-powered Shopping Guides to help customers navigate its vast product selection more efficiently. Starting Thursday, the guides will cover over 100 different product types, offering key information such as trusted brands, use cases, and popular features to simplify decision-making. The goal is to speed up the shopping process by consolidating research into an easy-to-navigate format.
The AI guides will not only focus on larger purchases like TVs or appliances but will also assist with everyday items such as dog food and running shoes. By using generative AI technology, Amazon aims to refine the search process and reduce the overwhelming number of choices shoppers face. Each guide is updated regularly through Amazon’s AI platform, Bedrock, ensuring users get the most current and relevant information.
Available first in the US via Amazon’s mobile apps and web, the AI Shopping Guides will appear during search suggestions and through personalised browsing prompts. Amazon also plans to expand the feature across more product categories in the coming months.
On September 21, Prime Minister Pham Minh Chinh signed Decision No. 1018/QD-TTg, establishing Vietnam‘s strategy and vision for developing its semiconductor industry. This strategic plan outlines both short-term objectives until 2030 and long-term projections extending to 2050, emphasising five key tasks – developing specialised chips, promoting the electronics industry, enhancing human resources and attracting talent, drawing investment into the semiconductor sector, and implementing additional relevant measures.
The strategy includes a three-phase roadmap. In Phase 1 (2024-2030), Vietnam aims to leverage its geographical advantages and existing semiconductor talent to attract foreign direct investment (FDI). The goals are to establish at least 100 design companies, one small semiconductor chip manufacturing plant, and 10 packaging and testing facilities, with the semiconductor industry projected to generate over USD 25 billion in revenue annually. The workforce is expected to exceed 50,000 engineers and university graduates.
During Phase 2 (2030-2040), Vietnam intends to strengthen its position as a global center for semiconductors, targeting 200 design companies, two chip manufacturing plants, and 15 packaging and testing facilities. The expected annual revenue for the semiconductor industry is projected to surpass USD 50 billion, with a workforce growing to over 100,000 engineers and graduates.
In Phase 3 (2040-2050), Vietnam aspires to become a leading player in the global semiconductor arena, aiming for at least 300 design companies, three semiconductor chip manufacturing plants, and 20 packaging and testing facilities. The semiconductor industry’s revenue is anticipated to exceed USD 100 billion annually, while the electronics sector is expected to surpass USD 1.045 trillion. Despite the government’s ambitious strategy, challenges remain, including power shortages, competitive salaries for talent, and a weak technological foundation.
Online shopping in Europe is making a comeback this year, with ecommerce turnover expected to reach €958 billion, up 8% from 2023, according to a report by Ecommerce Europe. While inflation has strained consumer spending power, recovering confidence is pushing more shoppers back online. However, the competitive market has intensified, particularly due to low-cost platforms like Temu, which is owned by PDD Holdings. These marketplaces, known for offering cheap products, are challenging local players across Europe.
In countries like Germany and Denmark, industry leaders have voiced concerns over the growing presence of Chinese platforms like Temu, which offer significantly lower-priced goods. These platforms are seen as creating an uneven playing field, as they are not always subject to the same regulations as European retailers. Despite these challenges, e-commerce in Europe is seeing its first real growth in years after adjusting for inflation, signaling a shift toward a “new normal” in consumer behavior.
The European Investment Bank (EIB) is making strategic moves to close the funding gap that often drives European start-ups to seek capital outside the continent, particularly in the United States. To counter this trend, the EIB is expanding its support for venture capital and private equity markets, creating an environment where European start-ups can thrive and scale domestically.
A key part of this strategy is the expansion of the European Tech Champions Initiative, which provides late-stage funding to high-potential companies. Additionally, the EIB is increasing its equity and venture debt investments and proposing a new fund to support European firms’ acquisition and public listing of tech start-ups. That push aligns with the EU’s broader objective of developing and integrating capital markets, ultimately making Europe a more attractive environment for growth-stage companies.
Furthermore, the EIB’s funding strategy strengthens Europe’s role in climate-friendly technologies, supporting start-ups that advance the EU’s net-zero CO2 goal by 2050. That initiative reflects a strong push to deepen capital market integration, enhancing Europe’s global competitiveness and enabling it to rival major economies like the US and China. Through these investments, the EIB is committed to keeping Europe at the forefront of technological and environmental progress.
Alchemy Pay has announced that its Virtual Card service is now compatible with Samsung Pay, making cryptocurrency payments faster and more convenient for users. This new feature allows cardholders to connect their virtual crypto cards to Samsung Pay, adding to the previously available Google Pay option. By linking their card, users can now seamlessly pay with cryptocurrency both online and in-store at millions of global locations.
With this integration, Alchemy Pay is making digital assets more accessible to everyday shoppers, offering flexibility to spend crypto on major platforms such as Amazon, Netflix, and eBay. Cardholders simply add their Virtual Card to Samsung Pay and can start making payments immediately.
Alchemy Pay is focused on expanding its payment capabilities and plans to collaborate with major card networks like Visa and Mastercard soon. This is part of a broader strategy to enhance crypto payments for both experienced users and newcomers alike.
