Foxconn, the world’s largest contract electronics manufacturer and Apple’s main iPhone maker, is prepared to adjust its production strategies in response to new US tariffs. Chairman Young Liu stated that the company is capable of planning its manufacturing around these changes, particularly with US President Donald Trump’s recently announced 25% tariff on all imports from Mexico and Canada, which has been paused until March 4.
Liu explained that Foxconn operates factories in both the United States and Mexico and will adjust production capacities based on the impact of the tariffs. He emphasised that Foxconn has the flexibility to move its operations between countries, minimising the overall effect of the tariffs on the company. However, Liu also warned that such tariffs are detrimental to the global economy, potentially shrinking markets.
Foxconn remains committed to working with US partners to align its manufacturing strategies with President Trump’s push for more domestic production. Despite the uncertainty around the tariffs, the company is prepared to adapt as necessary.
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France has positioned itself as a major player in artificial intelligence, attracting over €100 billion in investment, thanks in part to its reliable nuclear energy. At the AI Action Summit in Paris, President Emmanuel Macron highlighted the country’s clean power supply as a key advantage in luring tech firms. Among recent investments is a $10 billion supercomputer project by UK-based Fluidstack, expected to require 1 gigawatt of electricity, equivalent to one of France’s smaller nuclear reactors.
However, experts warn that delays in connecting power-hungry data centres to the grid could hinder progress. While data centres can be built in under a year, constructing the necessary transmission lines often takes five years due to permitting and public consultation requirements. The United States is seen as having a clear advantage in fast-tracking infrastructure development.
In response, state-owned utility EDF has designated four sites with pre-existing grid connections, potentially cutting project timelines by several years. While these efforts may help, the challenge of scaling infrastructure remains a significant obstacle to France’s AI ambitions.
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At the AI summit in Paris, French President Emmanuel Macron announced that Europe would reduce regulations to foster the growth of AI in the region. He called for more investment, particularly in France, and highlighted the importance of simplifying rules to stay competitive globally. Macron drew comparisons to the rapid reconstruction of the Notre-Dame cathedral, stating that a similar streamlined approach would be adopted for AI and data centre projects across Europe.
European Union digital chief Henna Virkkunen echoed Macron’s comments, promising to cut red tape and implement business-friendly policies. With the US pushing ahead with lighter AI regulations, there is increasing pressure on Europe to follow suit. Sundar Pichai, CEO of Alphabet, emphasised the need for more ecosystems of AI innovation, similar to the one emerging in France. The EU had previously passed the AI Act, which is the world’s first comprehensive set of AI regulations, but many at the summit urged a more flexible approach.
At the summit, France announced a major push for AI investment, including €109 billion from the private sector, and the launch of the Current AI partnership. This initiative, backed by countries like France and Germany, aims to ensure AI remains inclusive and sustainable. However, not all voices at the summit supported reducing regulations. Concerns were raised about the potential risks of weakening safeguards, particularly for workers whose jobs might be affected by AI advancements.
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MicroCloud Hologram, a Nasdaq-listed technology company, has announced plans to invest up to $200 million in Bitcoin and other digital assets. The move is driven by the firm’s bullish outlook on cryptocurrency, as it sees blockchain, artificial intelligence, and quantum computing as key to future innovation. The company aims to diversify its capital reserves while positioning itself for growth in the expanding digital economy.
With cash reserves of around $257 million, MicroCloud Hologram follows the lead of companies like Strategy and Metaplanet, which have heavily invested in Bitcoin. The firm is particularly interested in assets with strong market impact and growth potential, signalling confidence in the long-term value of crypto. The planned investment is also expected to support the company’s broader capital strategy and expansion into blockchain technologies.
Bitcoin’s surge in 2024, reaching an all-time high above $109,000, has sparked increased interest from institutional investors. The growing demand for spot Bitcoin ETFs and favourable regulatory developments have fuelled optimism, reinforcing predictions of further convergence between AI and crypto. MicroCloud Hologram’s latest move highlights the accelerating adoption of digital assets in mainstream finance.
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The United Arab Emirates‘ Energy Minister, Suhail Mohamed Al Mazrouei, stated on Wednesday that he does not believe the Chinese AI app DeepSeek will impact the demand for nuclear energy. DeepSeek, a Chinese startup, has developed AI models that deliver comparable results with much lower computing power, resulting in significant energy savings.
However, Al Mazrouei expressed confidence that this advancement will not reduce the growing need for nuclear energy in the UAE. He highlighted that nuclear power remains a critical component of the country’s strategy for diversifying energy sources and ensuring energy security in the long term.
The UAE has been investing heavily in nuclear energy as part of its efforts to reduce dependence on fossil fuels and to meet its climate goals. The Barakah nuclear power plant, which is set to become one of the largest nuclear power stations in the Middle East, is a key part of this initiative.
Al Mazrouei also noted that nuclear energy offers a reliable and scalable solution that can complement renewable energy sources, especially as the UAE looks to meet rising energy demands. While AI advancements like DeepSeek may contribute to energy efficiency, the UAE remains focused on expanding its nuclear energy infrastructure to support its future growth and sustainability objectives.
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Google has expanded its AI-powered note-taking tool, NotebookLM Plus, to individual users subscribed to the Google One AI Premium plan. Initially launched for enterprises, the paid version offers significantly higher usage limits, allowing users to create up to 500 notebooks and process 300 sources per notebook. It also supports 500 chat queries and 20 AI-generated audio summaries daily.
Priced at $20 per month, the subscription also includes access to Google’s Gemini AI across Gmail, Docs, and 2TB of cloud storage. Students in the US over 18 years old can get a 50% discount, bringing the price down to $9.99 per month. Google has yet to reveal the number of users for NotebookLM but reports suggest millions of visits in recent months.
Google is also working on expanding NotebookLM’s features, including support for more languages in its AI-generated audio summaries and the launch of a dedicated mobile app. The company emphasised that both free and premium users would continue receiving a high-quality experience as it refines the service.
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Swedish payments giant Klarna is considering integrating cryptocurrency into its services, marking a potential shift in its approach to digital assets. CEO Sebastian Siemiatkowski recently hinted at the company’s interest, asking his followers for ideas on how Klarna could embrace crypto. It comes as the firm prepares for a US initial public offering later this year, a move that could expand its influence in global financial markets.
Siemiatkowski acknowledged that Klarna is trailing behind competitors like PayPal and Revolut, both of which have already introduced a variety of crypto services. Industry leaders, including Circle CEO Jamie Allaire and Immutable’s Robbie Ferguson, have pitched ideas, suggesting stablecoin integration and crypto-friendly payment solutions. Klarna, which processes around $100 billion in transactions annually, could leverage its vast user base to bring digital assets into mainstream finance.
The CEO’s newfound enthusiasm for crypto contrasts with his earlier scepticism. In 2022, he dismissed Bitcoin as a “decentralised Ponzi scheme” and criticised high transaction fees. However, recent trends, including the rise of stablecoins and blockchain-based payments, seem to have reshaped his perspective. As Klarna moves towards its IPO, its evolving stance on digital assets could position it as a major player in the fintech-crypto convergence.
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Groq, a US semiconductor startup, has secured a $1.5 billion commitment from Saudi Arabia to expand its AI chip delivery. The Silicon Valley firm, founded by a former Alphabet engineer, specialises in AI inference chips designed for speed and efficiency in pre-trained model execution. A partnership with Aramco Digital has already established an AI hub in the region.
Funding will be received throughout the year to support the expansion of Groq’s data centre in Dammam. The company’s chips, used for chatbots and large language models, comply with US export regulations, with necessary licences already secured for shipments to Saudi Arabia.
The investment was announced at Saudi Arabia’s LEAP 2025 technology event, where the country confirmed $14.9 billion in new AI investments. Groq’s chips will help power the Dammam data centre, which will support Allam, a Saudi-developed AI language model operating in Arabic and English.
Groq reached a $2.8 billion valuation last August after raising $640 million in funding from Cisco Investments, Samsung Catalyst Fund, and BlackRock Private Equity Partners.
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The World Trade Organisation (WTO) Secretariat and the Organisation for Economic Co-operation and Development (OECD) have jointly released the report “Economic Implications of Data Regulation: Balancing Openness and Trust”. The research highlights the critical role data flows play in today’s interconnected world, enabling social and economic interactions. However, with the rise of regulations that either restrict (or impose conditions to) data flows, or that demand localised data storage, the report emphasises the need for a balanced approach that promotes cross-border flows while ensuring trust through adequate protection.
The report identifies the potential economic implications and opportunity costs associated with different types of data flow and data localisation regulations. It concludes that global solutions that promote free data flows paired with appropriate safeguards are likely to yield better economic outcomes for all economies, especially developing ones. The report predicts that this mixed approach could lead to a 3.6% increase in global exports and a 1.77% rise in global GDP. These benefits would be most pronounced for low and lower-middle-income economies, potentially boosting their GDP by over 4%. Conversely, the report warns against ‘full fragmentation’, where complete restrictions on data flow could cause a 4.5% decline in global GDP and an 8.5% drop in exports. While stringent data regulations pose economic challenges, the absence of regulation is also not advisable, as it could result in diminished trust in business transactions, and a decline in exports and GDP. The report makes the case for the implementation of the notion of Data Free Flows with Trust (DFFT).
France is positioning itself as a major player in AI, with President Emmanuel Macron highlighting the country’s nuclear-powered advantage. Speaking at the AI Action Summit in Paris, he said France generates more electricity than it consumes, making it an ideal destination for energy-intensive AI companies.
Europe must act swiftly to remain competitive, according to Macron, who announced €109 billion in AI investments. He described the summit as a wake-up call for Europe, warning that the continent risks lagging behind the US and China. European Commission President Ursula von der Leyen is set to outline the EU’s AI strategy, aiming to simplify regulations, expand markets, and boost computing power.
The EU’s AI Act faces criticism for stifling innovation, with Macron calling for a balance between regulation and technological progress. He emphasised that AI should serve humanity while aligning with global standards. France will adopt a ‘Notre-Dame strategy’, aiming for rapid AI advancements, mirroring the country’s swift reconstruction of the cathedral after the 2019 fire.
European businesses were urged to prioritise local AI firms over foreign competitors. Macron argued that companies in the US, China, and India favour homegrown solutions and called for a similar approach in Europe. Strengthening domestic AI development, he said, would help the continent stay competitive in the rapidly evolving sector.
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