Warner Bros Discovery has announced a significant restructuring of its operations, separating its traditional cable TV businesses like CNN and TNT from its growing streaming platforms such as Max and Discovery+. This move is aimed at adapting to the ongoing decline in cable subscriptions while positioning itself for potential sales or industry mergers.
The company’s shares rose over 15% following the announcement, with analysts noting that the split could make its linear TV networks more attractive to buyers. The restructuring mirrors similar efforts by media giants like Comcast, which recently launched a spin-off for its cable assets. Despite this, Warner Bros Discovery’s $40 billion debt remains a challenge in attracting buyers for its cable unit.
Streaming and studio operations, now placed in a separate division, continue to show promise, with growing returns on investment. CEO David Zaslav, known for orchestrating major deals, hinted at further industry consolidation in the near future. Warner Bros Discovery’s new structure is widely seen as a proactive measure to navigate a shifting media landscape.
The US Commerce Department announced a preliminary deal to provide German auto supplier Bosch with up to $225 million in subsidies to produce silicon carbide (SiC) power semiconductors in California. The funding supports Bosch’s $1.9 billion transformation of its Roseville facility, with an additional $350 million in proposed government loans. This effort draws from the $52.7 billion fund established in 2022 to bolster US semiconductor production and research.
Bosch plans to begin manufacturing SiC chips, critical for electric vehicles, telecommunications, and defence, by 2026. These chips, known for their energy efficiency, play a vital role in improving electric vehicle performance and charging capabilities. The Commerce Department estimates the project could represent over 40% of US-based SiC manufacturing capacity once fully operational.
The investment aligns with Bosch’s strategy following its 2023 acquisition of TSI Semiconductors and highlights the growing importance of domestic chip production after pandemic-related supply chain disruptions. Representative Doris Matsui, who helped craft the semiconductor funding law, praised the move as a step toward advancing clean energy technologies and electric vehicle development in the US.
Autonomous agents and profitability are predicted to define the AI landscape in 2025, according to industry experts. These agents, designed to perform tasks like scheduling or making purchases without direct user input, are gaining momentum due to advancements in reasoning techniques. OpenAI CFO Sarah Friar anticipates rapid progress in this area, emphasising their potential to simplify everyday activities.
The emergence of step-by-step reasoning methods, exemplified by OpenAI’s recent models, has paved the way for this evolution. Friar, who joined the Microsoft-backed company earlier this year, also highlighted the approaching milestone of AGI, predicting its arrival in the near term. Such developments promise to reshape the capabilities of AI, enabling it to surpass human efficiency in economically valuable tasks.
Industry leaders are already witnessing the transformative impact of AI. George Mathew from Insight Partners cited significant productivity gains, such as digital sales teams that operate at a fraction of traditional labour costs. Similarly, Molly Alter of Northzone forecasted 2025 as a turning point for AI profitability, shifting the focus from growth to improved profit margins through streamlined processes.
Beyond startups, established firms are integrating AI into their workflows. For example, BNY Mellon has equipped thousands of employees with tools to create AI-powered agents. CEO Robin Vince highlighted these tools’ ability to deliver insights and solutions that were previously unattainable, underscoring AI’s growing role in enhancing business efficiency and client services.
Meta has announced the release of a new AI model, Meta Motivo, designed to enhance the realism of human-like digital agents in the Metaverse. This innovation promises more lifelike movements for avatars, addressing longstanding issues with digital body control. The company believes these advancements will revolutionise character animation and create immersive experiences with highly interactive non-playable characters (NPCs).
Meta’s focus on AI and Metaverse technologies has led to record-breaking investment forecasts for 2024, with capital expenditures projected to reach up to $40 billion. The company has also embraced an open-source approach by making its AI models available for free to developers, fostering innovation across its platforms.
In addition to Meta Motivo, the company introduced the Large Concept Model (LCM), an AI system designed to reimagine language modelling by focusing on high-level concepts rather than predicting text tokens. This system processes entire sentences in multilingual and multimodal contexts, aiming to enhance reasoning capabilities. Meta also unveiled Video Seal, a tool that embeds invisible, traceable watermarks into videos, signalling its commitment to both innovation and security in digital content creation.
These releases reflect Meta’s vision of advancing AI to shape the future of digital interaction and the Metaverse, aiming to establish itself as a leader in cutting-edge virtual and augmented reality technologies.
Russia has the potential to improve its global AI standing by 2030, bolstered by local talent and the development of its own generative AI models, according to Alexander Vedyakhin, the first deputy CEO of Sberbank. Speaking at the bank’s AI Journey conference, Vedyakhin highlighted the resilience of Russian developers in navigating Western sanctions, which aimed to limit the country’s computing resources. He emphasised the importance of fostering experimentation to maintain progress in AI.
Although Russia currently trails the US and China in AI innovation by six to nine months, Vedyakhin is optimistic about closing the gap. Instead of building massive data centres, Russia is focusing on smart AI models tailored to its market, similar to Meta’s Llama. These efforts, he said, will ensure technological sovereignty, especially as generative AI gains global importance. For example, Russian language models address local cultural contexts better than English-trained systems, avoiding misunderstandings like misinterpreting cultural dishes.
President Vladimir Putin also underscored the strategic significance of AI, announcing plans to collaborate with BRICS countries to challenge US dominance. Vedyakhin added that while Europe and China face setbacks due to overregulation, Russia’s supportive regulatory environment could be a competitive advantage. Encouraging investment in AI startups and allowing for innovation without severe penalties for mistakes are key to advancing the sector.
Despite a broader decline in venture capital investment in Russia, funding for AI startups continues to grow, hinting at a more diversified market. Vedyakhin also suggested that decentralised autonomous organizations (DAOs), powered by blockchain, could address labour shortages, paving the way for Russia to strengthen its AI ecosystem in the years ahead.
Casa, a crypto custody company, has unveiled a new self-custody option called Praetorian, aimed at helping sovereign nations securely manage their Bitcoin reserves. The service uses multi-signature vaults spread across various jurisdictions, ensuring high levels of security and autonomy. Casa’s CEO, Nick Neuman, stated that self-custody gives nations complete control over their reserves, offering peace of mind even if the company ceases to operate.
The idea of Bitcoin as a strategic reserve is gaining traction. Investor Anthony Pompliano highlighted the global race for Bitcoin, noting how its scarcity could drive nations to secure their share. Recently, US Senator Cynthia Lummis proposed converting some gold holdings into Bitcoin, while Vancouver Mayor Ken Sim suggested Bitcoin could serve as a treasury asset to protect against inflation.
At the Bitcoin MENA 2024 conference, former Binance CEO Changpeng Zhao predicted that China would establish a Bitcoin reserve if the US moves forward with such plans under the incoming administration.
Nvidia has added around 200 employees in China this year, boosting its research capabilities and focusing on autonomous driving technologies, Bloomberg News reports. The company now employs nearly 600 people in Beijing, with a recently opened office in the Zhongguancun tech hub, according to sources familiar with the matter.
Despite its expansion, Nvidia faces headwinds in China, including an ongoing investigation into alleged violations of the country’s anti-monopoly laws. This probe is widely interpreted as a response to US restrictions on China’s chip sector. Nvidia declined to comment on the situation.
China contributed about 17% of Nvidia’s revenue in the year ending January, down from 26% two years earlier. Globally, Nvidia employs around 29,600 people across 36 countries, as detailed in its February 2024 filing.
Apple is teaming up with Broadcom to develop its first server chip dedicated to artificial intelligence processing. Expected to enter mass production by 2026, the chip, code-named Baltra, represents Apple’s latest venture into custom hardware aimed at reducing reliance on Nvidia’s high-cost and supply-constrained processors.
The chip will use Taiwan Semiconductor Manufacturing Co.’s N3P process, highlighting Apple’s commitment to furthering manufacturing technology. Broadcom, already benefiting from AI-driven growth, saw its shares climb 5% following the announcement.
This partnership builds on Apple’s recent successes in chip growth, including its M-series processors for Mac devices. It also echoes a broader trend among tech giants like Google, which have pursued custom AI chips to enhance their services. With the global market for custom chips projected to reach $45 billion by 2028, Apple’s move furthers its role as a leader in the AI tech industry.
Swiss robotics firm Anybotics has raised an additional $60 million, closing its Series B round at $110 million. Known for its Anymal quadruped robot, the company focuses on automating routine inspections in complex industrial environments such as oil and gas, mining, and utilities. Equipped with sensors and cameras, Anymal enhances safety and productivity by detecting issues like thermal anomalies and gas leaks, minimising human exposure to hasardous areas.
Since first announcing the Series B round 18 months ago, the Swiss Zürich-based startup has doubled its robot deployments, with nearly 200 units now operational across various industries. Clients include major companies such as Novelis and Iamgold, as well as Stanford University, which uses the technology for advanced research.
The new funding will support Anybotics’ expansion into the US following the opening of its San Francisco office. Co-led by Qualcomm Ventures and Supernova Invest, the investment ensures the company can scale its operations globally, with plans for a broader product portfolio and industry applications in the future.
Banks are embracing AI to boost productivity, with significant advancements in coding, task automation, and reporting processes. At the Reuters Next conference, executives from leading financial firms highlighted AI’s transformative potential.
Goldman Sachs has used AI to enhance coding productivity, potentially improving output by up to 30%, according to CEO David Solomon. Similarly, BNY Mellon has enabled employees to build AI tools for daily tasks, reflecting the industry’s drive to streamline operations.
Despite these productivity gains, financial institutions face challenges in monetising AI. Kristin Milchanowski, chief AI officer at Canada’s BMO Financial Group, noted that while AI has reduced reporting times significantly, its impact on revenue generation remains limited.
Future advancements depend on identifying specific use cases, such as optimising trades and attracting clients. Experts agree that AI’s long-term success in banking hinges on precise application and measurable outcomes.
