E-commerce and trade

BlackRock Bitcoin fund now second-largest holder

BlackRock’s iShares Bitcoin Trust (IBIT) has become the second-largest holder of Bitcoin, surpassing major industry players including Binance and Strategy. Only the wallet attributed to Bitcoin’s creator, Satoshi Nakamoto, holds more of the asset.

IBIT currently manages 636,108 BTC, which accounts for more than 3% of Bitcoin’s total supply and nearly 57% of Nakamoto’s estimated holdings.

The fund’s growth since its launch in January 2024 has been remarkable. With over $66.9 billion in net assets, IBIT now leads all Bitcoin ETFs by value.

Bloomberg analyst Eric Balchunas believes it could surpass Satoshi’s wallet by next summer—sooner if Bitcoin’s price reaches $150,000. Such a move would likely spark even stronger institutional interest.

Analysts say IBIT’s rise shows growing demand for regulated crypto access from advisers and retail investors. Bitcoin ETFs are outperforming gold funds, and BlackRock’s push highlights a major shift in global investment strategies.

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Nvidia ramps up AI push with new Taiwan plans

Nvidia CEO Jensen Huang has urged Taiwan to embrace agentic AI and robotics to tackle its ongoing labour shortage.

Speaking before his departure from Taipei after a week-long visit, Huang said 2025 would be a ‘very exciting’ year for AI, as the technology now possesses the ability to ‘reason’ and carry out step-by-step problem-solving never encountered before.

The new wave of agentic AI, he explained, could assist people with various workplace and everyday tasks.

Huang added that Taiwan, despite being a hub of innovation, faces a lack of manpower. ‘Now with AI and robots, Taiwan can expand its opportunity,’ he said.

He also expressed enthusiasm over the production ramp-up of Blackwell, Nvidia’s latest GPU architecture built for AI workloads, noting that partners across Taiwan are already in full swing.

Huang’s trip included meetings with local partners and a keynote at Computex Taipei, where he unveiled Nvidia’s new Taiwan office and plans for the country’s first large-scale AI supercomputer.

In a TV interview, Huang urged the Taiwanese government to invest more in energy infrastructure to support the growing AI sector. He warned that the energy demands of AI development could exceed 100 megawatts in the near future, stressing that energy availability is the key limitation.

Taiwan’s expanding AI ecosystem — from chip plants to educational institutions — would require substantial support to thrive, he said, pledging to return for Chinese New Year.

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Microsoft gives Notepad AI writing powers

Microsoft has introduced a significant update to Notepad, version 11.2504.46.0, unveiling a new AI-powered ‘Write’ feature for Windows 11 users.

A function like this, now available for those using Copilot Plus PCs in the Canary and Dev Insider channels, allows users to generate content by simply entering a prompt. Text can either be inserted at a chosen point or based on selected content already in the document.

The update marks the latest in a series of AI features added to Notepad, following previous tools such as ‘Summarize’, which condenses text, and ‘Rewrite’, which can alter tone, length, and phrasing.

Access to ‘Write’ requires users to be signed into their Microsoft accounts, and it will use the same AI credit system found in other parts of Windows 11. Microsoft has yet to clarify whether these credits will eventually come at a cost for users not subscribed to Microsoft 365 or Copilot Pro.

Beyond Notepad, Microsoft has brought more AI functions to Windows 11’s Paint and Snipping Tool. Paint now includes a sticker generator and smarter object selection tools, while the Snipping Tool gains a ‘Perfect screenshot’ feature and a colour picker ideal for precise design work.

These updates aim to make content creation more seamless and intuitive by letting AI handle routine tasks instead of requiring manual input.

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Google’s AI Mode is now live for all American users

Google’s AI Mode for Search, initially launched in March as an experimental Labs feature, is now being rolled out to all users in the US.

Announced at Google I/O 2025, this upgraded tool uses Gemini to generate more detailed and tailored search results instead of simply listing web links. Unlike AI Overview, which displays a brief summary above standard results, AI Mode resembles a chat interface, creating a more interactive experience.

Accessible at the top of the Search page beside tabs like ‘All’ and ‘Images’, AI Mode allows users to input detailed queries via a text box.

Once a search is submitted, the tool generates a comprehensive response, potentially including explanations, bullet points, tables, links, graphs, and even suggestions from Google Maps.

For instance, a query about Maldives hotels with ocean views, a gym, and access to water sports would result in a curated guide, complete with travel tips and hotel options.

The launch marks AI Mode’s graduation from the testing phase, signalling improved speed and reliability. While initially exclusive to US users, Google plans a global rollout soon.

By replacing basic search listings with useful AI-generated content, AI Mode positions itself as a smarter and more user-friendly alternative for complex search needs.

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TSMC threatens to scale back Arizona fabs over US chip tariffs

TSMC has warned the US government that it may halt or scale back plans to expand its semiconductor manufacturing in Arizona if new tariffs on foreign-made chips are introduced. However, the entire plan now hangs in the balance, depending on how the White House proceeds.

The company, which supplies key US tech firms like Apple and Nvidia, says such tariffs would make production costly and risk reducing demand. TSMC currently operates one plant in Arizona, with two more under construction and three additional facilities planned.

The warning comes as the Biden administration considers imposing tariffs on imported semiconductors. TSMC argues that firms already investing heavily in US chip production, like itself, should be exempt. In a letter to the US Commerce Department, it cited risks to customer demand and its own business strategy.

Arizona is set to become central to TSMC’s most advanced chipmaking, with upcoming 2nm and 1.6nm chips produced using cutting-edge technology. These new fabs could make up 30% of the company’s future high-end capacity.

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Meta aims to boost Llama adoption among startups

Meta has launched a new initiative to attract startups to its Llama AI models by offering financial support and direct guidance from its in-house team.

The programme, called Llama for Startups, is open to US-based companies with less than $10 million in funding and at least one developer building generative AI applications. Eligible firms can apply by 30 May.

Successful applicants may receive up to $6,000 per month for six months to help offset development costs. Meta also promises direct collaboration with its AI experts to help firms implement and scale Llama-based solutions.

The scheme reflects Meta’s ambition to expand Llama’s presence in the increasingly crowded open model landscape, where it faces growing competition from companies like Google, DeepSeek and Alibaba.

Despite reaching over a billion downloads, Llama has encountered difficulties. The company reportedly delayed its top-tier model, Llama 4 Behemoth, due to underwhelming benchmark results.

Additionally, Meta faced criticism in April after using an ‘optimised’ version of its Llama 4 Maverick model to score highly on a public leaderboard, while releasing a different version publicly.

Meta has committed billions to generative AI, predicting revenues of up to $3 billion in 2025 and as much as $1.4 trillion by 2035.

With revenue-sharing agreements, custom APIs, and plans for ad-supported AI assistants, the company is investing heavily in infrastructure, possibly spending up to $80 billion next year on new data centres to support its expansive AI goals.

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OpenAI buys Jony Ive’s AI hardware firm

OpenAI has acquired hardware startup io Products, founded by former Apple designer Jony Ive, in a $6.5 billion equity deal. Ive will now join the company as creative head, aiming to craft cutting-edge hardware for the era of generative AI.

The move signals OpenAI’s intention to build its own hardware platform instead of relying on existing ecosystems like Apple’s iOS or Google’s Android. By doing so, the firm plans to fuse its AI technology, including ChatGPT, with original physical products designed entirely in-house.

Jony Ive, the designer behind iconic Apple devices such as the iPhone and iMac, had already been collaborating with OpenAI through his firm LoveFrom for the past two years. Their shared ambition is to create hardware that redefines how people interact with AI.

While exact details remain under wraps, OpenAI CEO Sam Altman and Ive have teased that a prototype is in development, described as potentially ‘the coolest piece of technology the world has ever seen’.

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M&S website still offline after cyberattack

Marks & Spencer’s website remains offline as the retailer continues recovering from a damaging cyberattack that struck over the Easter weekend.

The company confirmed the incident was caused by human error and may cost up to £300 million. Chief executive Stuart Machin warned the disruption could last until July.

Customers visiting the site are currently met with a message stating it is undergoing updates. While some have speculated the downtime is due to routine maintenance, the ongoing issues follow a major breach that saw hackers steal personal data such as names, email addresses and birthdates.

The firm has paused online orders, and store shelves were reportedly left empty in the aftermath.

Despite the disruption, M&S posted a strong financial performance this week, reporting a better-than-expected £875.5 million adjusted pre-tax profit for the year to March—an increase of over 22 per cent. The company has yet to comment further on the website outage.

Experts say the prolonged recovery likely reflects the scale of the damage to M&S’s core infrastructure.

Technology director Robert Cottrill described the company’s cautious approach as essential, noting that rushing to restore systems without full security checks could risk a second compromise. He stressed that cyber resilience must be considered a boardroom priority, especially for complex global operations.

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Quantum computing partnership launches in Doha

Quantinuum and Al Rabban Capital have announced a new venture aimed at advancing quantum computing in Qatar and the region.

The partnership seeks to provide access to Quantinuum’s technologies, co-develop relevant quantum applications and train a new generation of developers.

This move aligns with Qatar’s ambition to become a hub for advanced technologies. Applications will focus on energy, medicine, genomics, and finance, with additional potential in emerging fields like Generative Quantum AI.

The venture builds on existing collaborations with Hamad Bin Khalifa University and the Qatar Center for Quantum Computing. Quantinuum’s expansion into Qatar follows growth across the US, UK, Europe, and Indo-Pacific.

Leaders from both organisations see this as a strategic milestone, strengthening technological ties between Qatar and the West. The joint venture not only supports national goals but also reflects rising global demand for quantum technologies.

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Microsoft and GitHub back Anthropic’s MCP

Microsoft and GitHub are officially joining the steering committee for MCP, a growing standard developed by Anthropic that connects AI models with data systems.

The announcement came during Microsoft’s Build 2025 event, highlighting a new phase of industry-wide backing for the protocol, which already has support from OpenAI and Google.

MCP allows developers to link AI systems with apps, business tools, and software environments using MCP servers and clients. Instead of AI models working in isolation, they can interact directly with sources like content repositories or app features to complete tasks and power tools like chatbots.

Microsoft plans to integrate MCP into its core platforms, including Azure and Windows 11. Soon, developers will be able to expose app functionalities, such as file access or Linux subsystems, as MCP servers, enabling AI models to use them securely.

GitHub and Microsoft are also contributing updates to the MCP standard itself, including a registry for server discovery and a new authorisation system to manage secure connections.

The broader goal is to let developers build smarter AI-powered applications by making it easier to plug into real-world data and tools, while maintaining strong control over access and privacy.

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