Economic

Nvidia CEO predicts humanoid robots will revolutionise manufacturing

Nvidia CEO Jensen Huang believes that humanoid robots will soon be widely used in manufacturing, possibly within the next five years.

Speaking at the company’s annual developer conference, Huang unveiled new software tools designed to improve robots’ ability to navigate the world.

Huang stated that the manufacturing industry would likely lead the way in adopting humanoid robots, due to its controlled environment and well-defined tasks.

He emphasised the economic value, with robots potentially costing around $100,000 to rent, making them a good investment.

The CEO’s predictions highlight the growing role of AI in automation, with Huang confident that humanoid robots will soon be an integral part of factory operations.

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Microsoft invests $2.2 billion in Malaysian cloud expansion

Microsoft is set to launch its first cloud region in Malaysia, featuring three data centres in the greater Kuala Lumpur area.

The centres, known as Malaysia West, will begin operations by mid-year, marking a significant step in the company’s $2.2 billion investment in the country.

However, this move is part of Microsoft’s broader plan to expand its cloud and AI services in Southeast Asia. Microsoft estimates the investment will generate $10.9 billion in revenue and create over 37,000 jobs in Malaysia over the next four years.

Laurence Si, managing director of Microsoft Malaysia, stated that the company’s operations in Malaysia remain on track despite concerns over US export controls on semiconductor chips.

Microsoft remains confident in its relationships with stakeholders and its ability to meet its investment commitments.

Local businesses are expected to benefit from enhanced cloud and AI capabilities, with the country aiming to become a leading hub for technological innovation in the region.

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Arizona House Committee approves Bitcoin Reserve Bill

The Arizona House of Representatives Commerce Committee has approved the Bitcoin Reserve Bill (SB1373) in a closely contested 6-to-4 vote.

The bill marks a significant milestone in Arizona’s efforts to integrate cryptocurrency into its financial framework. It aims to establish a ‘Digital Assets Strategic Reserve Fund,’ which would be managed by the state’s Treasury, with funds derived from state allocations and seized cryptocurrency assets.

Sponsored by Republican Senator Mark Finchem, SB1373 includes risk management provisions, such as limiting the Treasurer’s ability to invest more than 10% of the fund in any single year.

The bill also permits the lending of digital currencies to generate returns, with safeguards to prevent excessive financial exposure.

Arizona is now positioned as a leading state in the US’s push for crypto legislation, following Utah in adopting formal crypto reserve investment policies. Another related bill, the Strategic Bitcoin Reserve Act (SB1025), is gaining momentum and focuses on public fund investments in digital assets.

Meanwhile, Bitcoin’s price has seen mixed signals in recent days. Despite a 1.36% increase following the bill’s approval, Bitcoin has dropped 13% over the past month.

Technical indicators show a neutral to slightly bearish trend, though there are signs of a potential bullish reversal, with the MACD showing a positive divergence.

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Donald Trump to speak at Digital Asset Summit

President Donald Trump is set to address the Digital Asset Summit in New York on Thursday, marking the first time a sitting American president has spoken at a cryptocurrency industry conference.

His speech follows remarks from Bo Hines, executive director of the White House’s President’s Council of Advisers on Digital Assets, who hinted at the administration’s commitment to Bitcoin accumulation.

Hines emphasised the importance of securing digital assets for the nation, stating that President Trump is focused on acquiring Bitcoin for the recently announced strategic reserve.

He suggested that the administration aims to obtain as much Bitcoin as possible, reinforcing the growing role of cryptocurrency in national policy.

The summit will also feature notable speakers, including Representatives Ro Khanna and Tom Emmer, as well as industry leaders such as Strategy CEO Michael Saylor and Ripple CEO Brad Garlinghouse.

During the event, Garlinghouse announced that the SEC had withdrawn its appeal against Ripple, marking a significant development for the company.

Trump’s speech will be available via a live stream on X and YouTube, allowing a global audience to witness his address on the future of digital assets.

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Pakistan prepares to legalise cryptocurrency trading

Pakistan is set to legalise cryptocurrency trading, joining a growing list of nations embracing digital assets. According to Bilal bin Saqib, CEO of the Pakistan Crypto Council, a regulatory framework is in development to provide clarity on crypto-related activities.

The country’s shift highlights the rapid evolution of the cryptocurrency sector. Once associated with illicit activities, various nations are now exploring digital assets as reserves.

Pakistan’s interest in crypto reflects its ambition to attract foreign investment, leveraging its young, tech-savvy workforce. Saqib emphasised that Pakistan, with 60% of its population under 30, is well-positioned to become a Web3 hub.

With a projected population of 511 million by 2100, Pakistan ranks among the most populous countries. The nation already has 15 to 20 million cryptocurrency users, signalling strong domestic interest.

Saqib, recently appointed as the finance minister’s chief advisor for digital asset management, is leading efforts to integrate crypto and artificial intelligence into government operations.

Inspired by Donald Trump’s push to prioritise cryptocurrency in the US, Pakistan aims to follow suit. Saqib noted that as Trump advances a national crypto strategy, other countries will adopt similar approaches to remain competitive.

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AI Infrastructure Partnership expands with new key players

Nvidia and Elon Musk’s xAI have joined the AI Infrastructure Partnership, a consortium backed by Microsoft, MGX, and BlackRock, to expand AI infrastructure in the United States.

Originally formed last year with a commitment to invest over $30 billion, the group aims to fund data centres and energy projects essential for AI applications. Investors have already pledged $100 billion for immediate deployment, with further capital expected over the next four years.

The partnership, formerly known as the AI consortium, is focused on raising funds from investors, corporations, and asset owners to support AI’s growing energy and computing demands.

Nvidia will continue in its role as a technical advisor, while GE Vernova and NextEra Energy will contribute expertise in supply-chain planning and high-efficiency energy solutions.

The initiative aligns with a global push to secure AI dominance and meet the increasing demand for computational power.

AI training and large-scale data processing require vast amounts of energy, driving demand for specialised infrastructure. The consortium’s investments will prioritise projects within the United States and the Organisation for Economic Co-operation and Development (OECD) countries.

The announcement follows the launch of Stargate, a separate AI infrastructure initiative backed by SoftBank, OpenAI, and Oracle, with plans to mobilise up to $500 billion.

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Lawsuit claims Google favoured white and Asian employees in pay and promotions

Google has agreed to pay $28 million (€25.6 million) to settle a class action lawsuit alleging it favoured white and Asian employees by offering them higher pay and better career progression.

The case, which covered at least 6,632 employees in California between 2018 and 2024, won preliminary approval from a Santa Clara county judge last week.

The lawsuit was led by Ana Cantu, a former Google employee who claimed the company placed white and Asian workers in higher job levels while restricting promotions and pay increases for others.

Cantu, who worked in Google’s people operations and cloud departments for seven years, alleged she was denied career advancement despite performing well. She argued that Google’s practices violated the California Equal Pay Act.

A Google spokesperson confirmed the settlement but maintained that the company had not engaged in discriminatory treatment. A final hearing is scheduled for September, where the court will decide whether to grant full approval of the settlement.

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AI firm Prezent aims for global expansion after securing fresh investment

AI startup Prezent has raised $20 million in fresh funding to refine its AI-powered slide deck creation platform and expand into new markets.

The Los Altos-based company, which also operates in Bengaluru, aims to help businesses create high-quality presentations tailored to industry-specific language and terminology.

Founded in 2021 by Rajat Mishra, Prezent combines generative AI with proprietary data from millions of slide decks to offer customised business communication solutions.

The company’s AI assistant, Astrid, enables users to upload documents such as Excel files and PDFs while providing relevant company-specific context. Prezent’s technology suggests layouts and formats for presentations, helping users streamline their workflow.

For those on tight deadlines, an expedited service combines AI with human reviewers to deliver polished, professional-grade decks overnight. The platform currently serves around 150 Fortune 2000 companies, particularly in biopharma and tech, and is now targeting financial services and manufacturing.

With plans to expand into Europe, Japan, and Singapore, Prezent is also developing APIs to allow developers to generate presentations directly from chatbots, apps, and search engines.

Last year, the company reported over $10 million in annual recurring revenue and now has nearly 200 employees, most of whom work remotely from India.

The latest investment, led by Greycroft with participation from Zoom Ventures and others, values Prezent at well over $100 million.

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SpaceX strengthens ties with Filtronic through expanded agreement

Filtronic has expanded its partnership with SpaceX, securing a larger contract to supply advanced E-band SSPA modules for the Starlink satellite network.

The agreement builds on their initial collaboration signed in April last year, reinforcing Filtronic’s role in supporting one of the world’s leading space technology firms.

As part of the deal, Filtronic has issued 10.95 million warrants to SpaceX at an exercise price of 92.8p. These warrants give SpaceX the option to subscribe for up to 5% of Filtronic’s existing share capital, with vesting linked to confirmed purchase orders.

The issuance of warrants was approved under existing shareholder authorities granted at Filtronic’s annual general meeting in October.

Chief executive Nat Edington described the agreement as a validation of Filtronic’s technology and a step towards securing further supply commitments for the Starlink constellation. The company expects to trade slightly ahead of market expectations for the financial year ending May 2026.

Following the announcement, Filtronic’s shares rose by 3.17% to 107.3p at 10:55 GMT.

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Amazon considers further appeal after losing GDPR case

Amazon has lost its appeal against a €746 million fine imposed by Luxembourg’s data protection regulator for breaching EU privacy laws.

The country’s administrative court upheld the penalty in a ruling on 18 March, siding with the National Commission for Data Protection (CNPD), which found Amazon had unlawfully processed personal data under the General Data Protection Regulation (GDPR).

The fine remains the largest issued under the EU privacy rules.

The CNPD also ordered Amazon to implement corrective measures, although enforcement will be suspended during the appeal period.

Amazon criticised the decision, arguing the fine was based on subjective legal interpretations without prior guidance from regulators. The company confirmed it is considering further legal action.

Europe has taken a strict stance on data privacy violations, with GDPR setting a global benchmark for consumer protections.

The ruling against Amazon reinforces the EU’s commitment to holding major tech companies accountable for their handling of personal data.

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