E-commerce and trade

Mistral AI unveils powerful API for autonomous agents

French AI startup Mistral AI has stepped into the agentic AI arena by launching a new Agents API.

The move puts it in direct competition with leading players like OpenAI, Anthropic, and Google, all of whom are racing to develop autonomous AI agents capable of handling multistep tasks with minimal oversight.

The API provides developers with tools to build intelligent agents powered by Mistral’s language models. These agents can perform advanced tasks such as interpreting Python code, conducting web searches, generating images, and retrieving information from uploaded documents.

Support for orchestrating multiple agents and maintaining stateful conversations enables agents to collaborate and retain context during user interactions.

Among its standout features is compatibility with the Model Context Protocol (MCP), an emerging open standard created by Anthropic that simplifies how agents connect with third-party apps and data sources.

With major tech firms already on board, Mistral’s adoption suggests MCP is quickly becoming the foundation for seamless agent integration.

The company demonstrated several real-world use cases, including a financial analyst, a coding assistant for GitHub, a travel planner, and a personalised nutritionist.

These applications showcase how Mistral’s technology could support business automation and daily tasks alike, potentially reshaping how users interact with software altogether.

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Taiwan rebuffs China’s hacking claims as disinformation

Taiwan has rejected accusations from Beijing that its ruling party orchestrated cyberattacks against Chinese infrastructure. Authorities in Taipei instead accused China of spreading false claims in an effort to manipulate public perception and escalate tensions.

On Tuesday, Chinese officials alleged that a Taiwan-backed hacker group linked to the Democratic Progressive Party (DPP) had targeted a technology firm in Guangzhou.

They claimed more than 1,000 networks, including systems tied to the military, energy, and government sectors, had been compromised across ten provinces in recent years.

Taiwan’s National Security Bureau responded on Wednesday, stating that the Chinese Communist Party is manipulating false information to mislead the international community.

Rather than acknowledging its own cyber activities, Beijing is attempting to shift blame while undermining Taiwan’s credibility, the agency said.

Taipei further accused China of long-running cyberattacks aimed at stealing funds and destabilising critical infrastructure. Officials described such campaigns as part of cognitive warfare designed to widen social divides and erode public trust within Taiwan.

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OpenAI expands in Asia with new Seoul branch

OpenAI is set to open a new office in Seoul, responding to surging demand for its AI tools in South Korea—the country with the second-highest number of paid ChatGPT subscribers after the US.

The move follows the establishment of a South Korean unit and marks OpenAI’s third office in Asia, following Tokyo and Singapore.

Jason Kwon, OpenAI’s chief strategy officer, said Koreans are not only early adopters of ChatGPT but also influential in how the technology is being applied globally. Instead of just expanding user numbers, OpenAI aims to engage local talent and governments to tailor its tools for Korean users and developers.

The expansion builds on existing partnerships with local firms like Kakao, Krafton and SK Telecom. While Kwon did not confirm plans for a South Korean data centre, he is currently touring Asia to strengthen AI collaborations in countries including Japan, India, and Australia.

OpenAI’s global growth strategy includes infrastructure projects like the Stargate data centre in the UAE, and its expanding footprint in Asia-Pacific follows similar moves by Google, Microsoft and Meta.

The initiative has White House backing but faces scrutiny in the US over potential exposure to Chinese rivals.

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Europe cracks down on Shein for misleading consumers

The European Commission and national consumer protection authorities have determined that online fashion giant Shein is in breach of six EU consumer laws, giving the company one month to bring its practices into compliance.

Announced today, the findings from the European Commission mark the latest in a string of regulatory actions against e-commerce platforms based in China, as the EU intensifies efforts to hold international marketplaces accountable for deceptive practices and unsafe goods.

Michael McGrath, the commissioner for consumer protection, stated: ‘We will not shy away from holding e-commerce platforms to account, regardless of where they are based.’

The investigation, launched in February, identified violations such as fake discounts, high-pressure sales tactics, misleading product labelling, and hidden customer service contact details.

Authorities are also examining whether Shein’s product ranking and review systems mislead consumers, as well as the platform’s contractual terms with third-party sellers.

Shein responded by saying it is working ‘constructively’ with authorities and remains committed to addressing concerns raised during the investigation.

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Google aims for profit with new AI Search

At its annual developer event, Google I/O, Google unveiled a new feature called AI Mode, built directly into its core product, Google Search.

Rather than being a separate app, AI Mode integrates a chatbot into the search engine, allowing users to ask complex, detailed queries and receive direct answers along with curated web links. Google hopes this move will stop users from drifting to other AI tools instead of its own services.

The launch follows concerns that Google Search was starting to lose ground. Investors took notice when Apple’s Eddy Cue revealed that Safari searches had dropped for the first time in April, as users began to favour AI-powered alternatives.

A decline like this led to a 7% drop in Alphabet’s stock, highlighting just how critical search remains to Google’s dominance. By embedding AI into Search, Google aims to maintain its leadership instead of risking a steady erosion of its user base.

Unlike most AI platforms still searching for profitability, Google’s AI Mode is already positioned to make money. Advertising—long the engine of Google’s revenue—will be introduced into AI Mode, ensuring it generates income just as traditional search does.

While rivals burn through billions running large language models, Google is simply monetising the same way it always has.

AI Mode also helps defend Google’s biggest asset. Rather than seeing AI as a threat, Google embraced it to reinforce Search and protect the advertising revenue it depends on.

Most AI competitors still rely on expensive, unsustainable models, whereas Google is leveraging its existing ecosystem instead of building from scratch. However, this gives it a major edge in the race for AI dominance.

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Malaysia and Singapore unite for digital trade connectivity

MY E.G. Services Berhad (MYEG) of Malaysia and Singapore Trade Data Exchange Services (SGTraDex) have partnered to enhance digital trade connectivity between Malaysia and Singapore.

The strategic collaboration aims to develop interoperable digital platforms that enable seamless, secure, and paperless exchange of trade-related data across borders.

By aligning their digital infrastructures, the partnership seeks to set a new standard for digital trade within the ASEAN region, facilitating smoother cross-border trade flows and supporting the ASEAN Digital Economy Framework Agreement (DEFA).

That initiative promotes mutual recognition of digital identities, electronic trade documents, and regulatory credentials, all of which are crucial to accelerating trade facilitation and supply chain resilience.

A key focus of the collaboration is the technical integration of MYEG’s Zetrix blockchain platform with SGTraDex’s systems, ensuring secure, immutable, and traceable exchange of verified trade information between governments and businesses.

The use of blockchain technology underpins the transition from traditional paper-based trade processes to fully digital trade flows, enhancing transparency and security in cross-border transactions.

The partnership aims to expand regional digital trade integration, potentially involving China and the Gulf Cooperation Council (GCC) countries.

Both parties plan to explore new business-to-business (B2B) and business-to-government (B2B2G) use cases, joint product development, regulatory knowledge exchange, and sandbox coordination to foster innovation and interoperability.

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Nvidia unveils cheaper AI chip for China

Nvidia is preparing to launch a lower-cost AI chip for China that complies with US export restrictions, with mass production expected to begin as early as June.

The upcoming GPU will be based on the latest Blackwell architecture but will carry reduced specifications compared to the recently restricted H20 model. It is expected to sell for $6,500 to $8,000, significantly cheaper than the $10,000–$12,000 H20, reflecting its simpler design and less advanced components.

Sources say the new chip, likely named either the 6000D or B40, will use GDDR7 memory instead of high-bandwidth memory and will avoid Taiwan Semiconductor Manufacturing Co’s CoWoS packaging technology.

Nvidia had initially planned to downgrade the H20, but tighter US rules made that unviable. Instead of relying on its older Hopper architecture, the company is shifting to Blackwell for future developments in China.

Nvidia has been forced to adapt repeatedly due to tightening US export restrictions aimed at slowing China’s technological progress. Its market share in China has dropped from 95% before 2022 to around 50% today, as competitors like Huawei gain ground with chips like the Ascend 910B.

CEO Jensen Huang noted that continuing restrictions could further drive Chinese firms towards domestic alternatives, cutting Nvidia off from more of the $50 billion data centre market.

Huang also revealed that US curbs have forced Nvidia to write off $5.5 billion in inventory and abandon $15 billion in potential sales. New limits now target GPU memory bandwidth, a key factor for AI performance, capping it at around 1.8 terabytes per second.

The upcoming chip is expected to remain just within this limit, allowing Nvidia to retain a foothold in China instead of exiting the market entirely.

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US delays 50% tariff on EU imports until July

US President Donald Trump has agreed to delay a planned 50% tariff on European Union imports. The new deadline is now set for 9 July 2025, following a request from European Commission President Ursula von der Leyen.

The extension allows more time for what both sides hope will be serious trade negotiations.

The announcement came after a phone call between Trump and von der Leyen. Trump said the EU leader asked for more time to work out a deal, and he was happy to agree. He expressed optimism that talks would begin quickly and hopes to reach an agreement soon.

Earlier this year, Trump introduced tariffs on EU goods, starting at 20% and later reducing to 10%. However, tensions rose when Trump announced the 50% tariff would take effect from 1 June, citing stalled negotiations.

Von der Leyen responded by emphasising the EU’s commitment to a strong transatlantic trade relationship. She also highlighted the need for the extension to finalise a good deal.

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Oracle and OpenAI target AI leadership with massive chip project

Oracle has reportedly acquired around 400,000 Nvidia GB200 AI chips valued at approximately $40 billion for deployment at a data centre in Abilene, Texas.

The location will be the first site of the Stargate project—a $500 billion AI infrastructure initiative backed by OpenAI, Oracle, SoftBank, and Abu Dhabi’s MGX fund, which President Trump announced earlier this year.

Once completed, the Abilene facility is expected to provide up to 1.2 gigawatts of computing power, rivalling Elon Musk’s Colossus project in Memphis.

Although Oracle will operate from the site, the land is owned by AI infrastructure firm Cruso and US investment company Blue Owl Capital, which have collectively invested more than $15 billion through financing.

Oracle will lease the campus for 15 years, using the chips to offer computing power to OpenAI for training its next-generation AI models.

Previously dependent solely on Microsoft’s data centres, OpenAI faced bottlenecks due to limited capacity, prompting it to end the exclusivity agreement and look elsewhere.

While individual investors have committed funds, the Stargate project has not officially financed any facility yet. In parallel, OpenAI has announced Stargate UAE—a 5-gigawatt site in Abu Dhabi using over 2 million Nvidia chips, built in partnership with G42.

A surging demand for AI infrastructure has significantly boosted Nvidia’s market value, with the company reclaiming its top global ranking in late 2024.

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Nvidia recovers as DeepSeek fears fade

Earlier this year, Nvidia shares declined following concerns over DeepSeek and the possibility that tech giants might reduce AI-related spending. Worries over export restrictions added to investor unease.

However, Wedbush Securities’ managing director Matt Bryson believes the DeepSeek issue is now firmly behind the company. According to Bryson, DeepSeek — mostly a China-based phenomenon — unexpectedly boosted demand for AI servers, which ultimately benefited Nvidia instead of hurting it.

Another key development is Oracle’s plan to spend around $40 billion on Nvidia’s GB200 chips to power OpenAI’s new data centre.

Bryson suggested this is part of a broader trend among hyperscalers like Oracle and Crusoe, which recently secured funding to build new facilities. He expects this spending to appear in Nvidia’s earnings as early as Q2 or Q3, instead of being delayed until the next chip generation, the GB300.

Looking ahead, investors remain focused on whether major tech firms will sustain their AI investment. Bryson pointed out that recent earnings reports from companies like Microsoft, Alphabet, and Meta show they remain committed to high capital expenditures.

Instead of retreating, Big Tech appears set to continue driving demand for AI infrastructure, which supports Nvidia’s long-term prospects.

Bryson also noted a significant new factor in AI growth: sovereign deals from countries such as Saudi Arabia and the UAE. He emphasised that the UAE’s expected chip purchases may even surpass Oracle’s.

The new demand, combined with increasing investments in AI-powered edge products — such as those hinted at by OpenAI’s collaboration with Jony Ive — signals that AI spending beyond 2025 will remain strong instead of slowing.

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