Economic

AI leadership goal drives South Korea’s GPU investment

South Korea has unveiled plans to acquire 10,000 high-performance GPUs by the end of the year, aiming to strengthen its national AI computing capabilities.

Officials emphasised that global AI competition has escalated from corporate rivalries to clashes between nations’ innovation ecosystems. Acting President Choi Sang-mok stated that public-private cooperation would be key to launching services at the country’s national AI computing centre.

The initiative comes amid the US government’s newly implemented restrictions on exporting AI chips, which categorise countries into tiers. South Korea remains exempt from these restrictions, allowing it access to advanced GPUs.

Details on the budget, specific GPU models, and private sector partners are expected to be finalised by September, according to the Ministry of Science and ICT.

US-based Nvidia dominates the GPU market with an 80% share, with rivals Intel and AMD trailing behind. Meanwhile, OpenAI, supported by Microsoft, is developing its first in-house AI chip to reduce dependency on Nvidia.

Chinese startup DeepSeek has also entered the AI scene with models prioritising computational efficiency over raw processing power, potentially narrowing the technological gap with US-made processors.

As nations race to secure technological supremacy, South Korea’s move signals its commitment to advancing its AI infrastructure and staying competitive in the global AI ecosystem.

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Poland fails to appoint DSA regulator after EU deadline

A year after the EU’s legal deadline, Poland has yet to designate a national regulator to help the European Commission enforce the Digital Services Act (DSA), which governs online platforms. The country risks being referred to the EU courts for non-compliance, becoming the only member state not to have appointed a regulator. The European Commission initiated an infringement procedure in late 2023, urging Poland to meet the requirements.

Poland was also warned for not establishing penalty rules under the DSA. While Belgium has named its telecom regulator as the country’s DSA coordinator, Poland has not made such appointments, although the Ministry for Digitalization stated that it is ‘working on’ implementing the regulation. The process is still ongoing, with no clear timeline for completion.

The DSA, aimed at curbing illegal content online, required EU member states to designate national regulators by February 2024. These Digital Services Coordinators (DSCs) are meant to oversee the implementation of the rules and support the European Commission in monitoring compliance. Poland’s delay, along with Spain and the Netherlands, has led to formal notices from the Commission, which could take further legal action if the issues are not resolved soon.

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Pro-Russian hackers target Italian banks and airports in cyber attack

A wave of cyber attacks hit around 20 Italian websites, including those of banks and airports, in an incident linked to rising tensions between Rome and Moscow.

Italy‘s cybersecurity agency attributed the attacks to the pro-Russian hacker group Noname057(16), which targeted websites such as Intesa Sanpaolo, Banca Monte dei Paschi, Iccrea Banca, and Milan’s Linate and Malpensa airports. Authorities reported no major disruptions.

The attack followed recent remarks by Italian President Sergio Mattarella, who compared Russia‘s war on Ukraine to Nazi Germany‘s expansionism.

Moscow condemned the statement, while Italian Prime Minister Giorgia Meloni defended it. The hackers cited Mattarella’s comments as motivation for their actions, according to Italy’s cybersecurity agency.

Noname057(16) previously claimed responsibility for a cyber attack on Italy in December, which targeted around 10 institutional websites. Some of the affected organisations declined to comment on the latest breach, while others reported no operational impact. Italian authorities continue to monitor the situation.

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Argentina’s President faces impeachment calls over cryptocurrency scandal

President of Argentina, Javier Milei, is facing impeachment calls from opposition lawmakers after promoting a little-known cryptocurrency that crashed shortly after his endorsement. Late on Friday, Milei posted on X recommending the crypto coin $LIBRA, causing its price to surge to nearly $5 before plummeting below $1 within hours.

Critics accused the president of irresponsibility, with some suggesting the incident could be a “rug pull” scam designed to manipulate investments.

Lawmaker Leandro Santoro, a member of the opposition coalition, called the incident an international embarrassment and announced plans to seek Milei’s impeachment.

Argentina’s fintech chamber acknowledged the possibility of fraudulent activity, adding to concerns about the president’s involvement. Local media reported that Milei’s post remained online for a few hours before being deleted.

Milei later distanced himself from the cryptocurrency, stating he had no connection to it and was unaware of its details before promoting it.

After learning more, he removed the post to avoid further publicity. Despite his explanation, the controversy has intensified political tensions, with opposition figures questioning his judgment and calling for accountability.

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Greece plans satellite launch to boost digital strategy

Greece is poised to launch its first satellites by the end of the year, marking a significant advancement in the country’s digital strategy. Minister of Digital Governance Dimitris Papastergiou, speaking at the Innovent Forum in Larissa, outlined the ambitious plans to deploy microsatellites by late 2025. These satellites will provide critical data across various sectors, significantly enhancing the country’s digital capabilities and supporting its broader technological goals.

The new satellite program is designed to offer more precise and narrowly focused information on key areas such as natural disasters, crops, water quality, land use, and urban planning. By using advanced satellite technology, Greece aims to improve its ability to respond to environmental challenges, optimise resource management, and make more informed decisions in urban and rural planning. Papastergiou emphasised that these upgrades are essential for the country to stay ahead in a rapidly evolving digital landscape.

Alongside the satellite initiative, Papastergiou also discussed ongoing efforts to digitalise state services, tackling long-standing issues of bureaucratic red tape. He pointed to the digitisation of the national cadaster as a key example of these reforms, which are intended to streamline processes and enhance the efficiency of government operations. The minister’s remarks signal a continued push for modernising Greece’s public sector to meet the demands of the digital age.

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Robotics and AI steal the show at NBA Tech Summit

When the NBA held its first Tech Summit in 2000, few imagined it would become a cornerstone of All-Star weekend. Now, 25 years later, the summit has returned to the Bay Area, where it all began, marking a milestone in the league’s embrace of technology.

What started as a simple conversation about the future has evolved into an exclusive gathering of industry leaders, featuring discussions on AI, robotics, and the media revolution that has reshaped sports. Commissioner Adam Silver shared the stage with advanced Physical AI robots at this year’s event, showcasing how innovation continues transforming the game.

Boston Dynamics’ Spot robot dogs even appeared, launching T-shirts and entertaining the crowd. The summit also featured a high-profile panel on streaming services, with executives from Netflix, Apple, Amazon, and YouTube discussing the ongoing digital shift—a vision first championed by Mark Cuban at the inaugural summit.

Despite initial scepticism, the Tech Summit has become an essential platform where NBA owners, players, and media moguls exchange ideas on the ever-evolving landscape of sports and technology. This year’s speakers included All-Star players Victor Wembanyama and Jalen Brunson, WNBA champion Sabrina Ionescu, and the USA Basketball chairperson, Gen. Martin E. Dempsey.

Legendary broadcaster Bob Costas also sat down for a conversation with Golden State Warriors coach Steve Kerr, adding another layer of insight to the event. As Silver reflected on the summit’s past and future, he admitted that predicting the next 25 years is nearly impossible.

‘We’re featuring AI and robotics this year. Who knew?’ he said. While the Tech Summit continues to evolve, one thing remains certain—it will always be a space to explore the next big thing in basketball and beyond.

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World Network grows in the Philippines amid data fears

World Network has officially launched in the Philippines, bringing its digital identity service, World ID, to one of the world’s most active online communities. Already adopted by over 23 million users globally, World ID allows people to verify their identity securely and anonymously. Initially introduced in Bulacan, the service is now expanding nationwide to help users protect themselves from online fraud, deepfakes, and digital misinformation.

With fraud linked to deepfakes surging by 4,500% in the Philippines over the past year, World ID’s biometric verification aims to set humans apart from AI-driven bots. The platform arrives when nearly all Filipinos use social media, making it a prime market for digital identity solutions. By scanning a person’s iris, World ID offers a safer way for individuals to prove their humanity in an increasingly AI-driven world.

However, the initiative has faced significant backlash due to privacy concerns over biometric data collection. Governments in Kenya, France, Portugal, and several other countries have raised legal challenges, fearing data misuse and lack of transparency. World Network insists it safeguards users’ information through privacy-focused technology, but critics remain sceptical, particularly in regions with weaker data protection laws.

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Tiger Brokers embraces AI with DeepSeek integration

Tiger Brokers has integrated DeepSeek’s AI model into its TigerGPT chatbot, marking a significant step in the race to adopt AI in the financial industry. The DeepSeek-R1 model is already being used by over 20 Chinese brokers and fund managers, transforming areas such as market analysis, risk management, and client interaction. The technology, developed at a fraction of the cost of Western AI models, is expected to revolutionise how financial firms operate, with DeepSeek tapping into valuable data to enhance decision-making and trading strategies.

Tiger Brokers, supported by investors like Xiaomi and Jim Rogers, views this AI breakthrough as a game changer. The upgraded TigerGPT, which will initially be available for free in China and Singapore, now offers enhanced logical reasoning capabilities, allowing for more accurate market predictions and investment opportunities. CEO Wu Tianhua described the impact as transformative, helping users understand market shifts and boosting the overall investment experience.

As AI adoption accelerates, financial IT spending in China is forecasted to rise by 24% in the next five years, a trend expected to benefit tech companies like Hundsun Technologies. The integration of DeepSeek’s models is reshaping the financial industry, with firms such as Sinolink Securities and CICC Wealth Management already exploring AI’s potential to improve efficiency, from risk management to investment advisory services.

Despite the promise, the financial industry faces challenges in standardising data for AI models. However, companies are moving quickly to implement AI solutions, eager to unlock the full potential of their data and enhance their internal operations, marketing, and investing strategies.

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Argentine President rejects claims over LIBRA meme coin

Argentine President Javier Milei has denied endorsing the LIBRA meme coin, which recently surged in value before collapsing, leaving investors with heavy losses. He stated that he merely shared information about the token and never encouraged people to buy in. According to Milei, only a few Argentine investors were affected, with most traders coming from China and the US. He disputed reports that 44,000 people lost money, insisting the real number was closer to 5,000, primarily experienced traders who understood the risks.

Milei explained that Hayden Davis, one of LIBRA’s backers, had proposed a financial structure to support entrepreneurs struggling to secure funding. Seeing potential in the idea, he simply helped spread awareness. However, after facing political backlash, Milei admitted he must be more cautious about his public statements, acknowledging that he still acts as he did before becoming president and needs to be less accessible.

The controversy has rattled Argentina’s political and financial landscape, with opposition leaders accusing Milei of misleading the public and calling for his removal. The anti-corruption office has launched an investigation, alongside a legal probe led by Federal Judge María Servini. Meanwhile, Argentina’s financial markets took a hit, with the S&P Merval stock index dropping by 5%. Despite Milei’s insistence that he acted in good faith, scrutiny of his administration continues to intensify.

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EU’s Ribera criticises Trump’s disruption of transatlantic relations

The EU’s competition chief, Teresa Ribera, has criticised US President Donald Trump for disrupting the ‘trustful relationship’ between Europe and the United States, highlighting the unpredictability and instability of Washington’s actions. In an interview with Reuters, Ribera stated that while Europe must engage in negotiations with the White House on trade issues, it should not be pressured into changing laws that have already been passed. She emphasised that Europe must remain firm on its principles, including human rights, democracy, and the unity of the continent, despite Trump’s transactional political approach.

Ribera also responded to criticism from Trump and his government, who have labelled EU regulations on US tech companies as a form of taxation. She dismissed these claims, stressing that Europe’s legal framework aims to ensure stability and predictability for businesses. In contrast, she expressed concern over the uncertainty created by the White House’s frequent policy shifts, particularly with regard to tariffs on steel, aluminium, and other sectors. The EU has vowed to respond firmly to any tariff increases imposed by Trump.

In addition, Ribera revealed that the European Commission would soon decide whether tech giants Apple and Meta Platforms have complied with the EU’s Digital Markets Act. Both companies face potential fines if found in breach of the regulations, which are designed to curb their market dominance. Ribera also confirmed that investigations into Elon Musk’s social media platform X would continue, disregarding Musk’s ties to the US administration.

As tensions between Washington and Brussels continue to rise, Ribera reiterated that businesses seek a stable and predictable legal environment, something she feels is increasingly lacking in the US under Trump’s leadership. The EU remains committed to enforcing its regulations and protecting its values despite external pressures.

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