The Chinese technology powerhouse, Alibaba, has announced substantial price cuts of up to 85% for its large language models (LLMs), including the visual language model Qwen-VL. Designed to process and interpret both text and images, Qwen-VL is tailored for enterprise use, marking a departure from consumer-facing AI tools like ChatGPT. These discounts signal a competitive push to expand AI accessibility in the enterprise sector.
The move comes amid a broader race among Chinese tech giants to dominate the AI landscape. Companies like Tencent, Baidu, Huawei, and ByteDance have launched their own LLMs, aiming to capitalise on the growing demand for advanced AI solutions. Alibaba’s decision to focus on enterprise customers has already shown results, with its Qwen models adopted by over 90,000 businesses since May.
Analysts predict these price cuts could reshape global AI accessibility, enabling smaller firms and startups to leverage cutting-edge technology. Lower costs may allow traditional industries to modernise operations, while venture capital flows into supporting technologies are expected to further fuel innovation.
The global AI race is poised to accelerate into 2025, with Chinese companies playing a central role in advancing machine reasoning and practical applications. The intensifying competition could define the future of AI development, offering more use cases across diverse industries worldwide.
Bitcoin surged past $100,000 in 2024, more than doubling its value, driven by pivotal regulatory and political developments. The US Securities and Exchange Commission’s approval of exchange-traded funds tied to Bitcoin’s spot price marked a significant milestone, attracting mainstream and institutional interest in the cryptocurrency sector.
A broader crypto rally saw Bitcoin gain over 120% and Ethereum rise nearly 50%, boosting the market’s total value to $3.5 trillion. Analysts predict Bitcoin could reach $200,000 by late 2025, solidifying its status as a premier store of value. Enthusiasm for the asset class has extended to corporate treasuries, with firms like MicroStrategy leading the charge.
MicroStrategy’s shares quintupled in 2024, reflecting its substantial Bitcoin holdings. Other companies, including major financial players, are incorporating Bitcoin into their portfolios. Meanwhile, Donald Trump’s victory in the US presidential election, coupled with his pro-crypto stance, further energised the market.
Despite the rally, challenges persist for smaller crypto miners. Rising energy and hardware costs have limited gains for firms like Riot Platforms and Marathon Digital, which struggled against the year’s bullish trends.
Montenegro has extradited Terraform Labs co-founder Do Kwon to the US, where he faces charges related to investor deception and the collapse of the TerraUSD cryptocurrency. The Montenegrin interior ministry confirmed Kwon was handed over to US law enforcement at Podgorica airport.
Kwon, a South Korean national, was arrested in March 2023 while attempting to leave Montenegro. The Supreme Court recently ruled that legal conditions for extradition were met, prompting Justice Minister Bojan Bozovic to approve the US request. His legal team has appealed the decision at Montenegro’s Constitutional Court.
The former CEO of Terraform Labs is accused of misleading investors about TerraUSD’s stability. The cryptocurrency collapsed in May 2022, triggering an estimated $40 billion in market losses. Kwon and his company are also being sued by the US Securities and Exchange Commission over allegations of fraud involving TerraUSD and Luna.
Stablecoins are digital assets designed to maintain a fixed value, typically pegged to a fiat currency. TerraUSD’s failure undermined trust in their stability and shook the broader cryptocurrency market.
Samsung Electronics has become the largest shareholder of South Korea’s Rainbow Robotics, solidifying its position in the robotics sector. The company acquired an additional stake worth 267 billion won (£159 million), according to a regulatory filing by Rainbow Robotics.
The move raises Samsung’s holding in Rainbow Robotics from 14.71% to a controlling position. Prior to this, the firm’s founder, Oh Jun-ho, and related entities held the largest stake in the robotics company.
Samsung plans to establish a Future Robotics Office, which will report directly to the CEO. Moreover, this step underscores its commitment to advancing robotics as a strategic priority for future growth.
The acquisition is expected to enhance Samsung’s influence in robotics innovation and strengthen its role in shaping the industry’s future.
Taiwan Semiconductor Manufacturing Co (TSMC) has commenced mass production at its first factory in Kumamoto Prefecture, Japan. The facility manufactures 12 to 28-nanometer chips used in cars and image sensors, serving clients such as Sony Group and Denso Corp. Strengthening supply chains for critical goods is a priority for Japan, which views domestic chip production as vital for economic security amid geopolitical tensions.
TSMC plans a second factory in Kumamoto to produce advanced 6-nanometer chips, with construction set to begin by March 2025 and operations expected by late 2027. The Japanese government has pledged over 1 trillion yen in subsidies to support these initiatives, highlighting the strategic importance of reducing dependence on Taiwan’s chip supply.
Kumamoto Governor Takashi Kimura has also urged TSMC to consider a third plant in the prefecture, reflecting the region’s commitment to becoming a hub for semiconductor production. These developments underscore Japan’s determination to secure its technological future.
The Biden administration has taken action to shield the Ruby Mountains in northeast Nevada from energy development. On Monday, the Interior Department approved a US Forest Service application to withdraw 264,442 acres of federal land from oil, gas, and geothermal leasing for up to 20 years.
However, the approval temporarily removes the land from development for two years and initiates a 90-day public comment period on the proposed long-term withdrawal. The Ruby Mountains, celebrated for their scenic beauty, cultural significance, and role in the local outdoor recreation economy, have long been valued by nearby communities.
Interior Secretary Deb Haaland described the move as a prudent step to ensure scientific evaluation and public input inform the protection of the area for future generations. The lands will remain open to mining claims despite the restrictions on energy leasing.
The decision aligns with President Joe Biden’s broader efforts to conserve public lands, marking a contrast to policies favouring expanded energy production under the incoming administration of President-elect Donald Trump.
The US Department of Justice and the Federal Trade Commission have initiated legal proceedings against fintech company Dave and its CEO, Jason Wilk. Allegations include deceptive advertising practices linked to cash advances promoted on the platform, some of which users reportedly never received.
Authorities argue the company engaged in unfair practices, including hidden fees, misuse of customer tips, and inadequate cancellation processes for recurring charges. The complaint seeks monetary penalties, consumer redress, and measures to prevent future violations.
Dave denies the allegations, asserting many claims are inaccurate. The company has introduced a simplified fee structure, removing tips and express fees regulators criticised. However, the updated structure was implemented on 4 December for new users, with existing customers transitioning gradually.
The legal filing replaces an earlier complaint from November, initially targeting the company without seeking penalties. Regulators now aim for broader accountability by including the CEO in the amended complaint.
The owner of TikTok, ByteDance, plans a significant $7 billion investment in AI hardware by 2025. The company is turning to Nvidia chips despite US-imposed restrictions on AI chip exports to China. ByteDance has devised methods to bypass these curbs by storing chips in data centres outside China, particularly in Southeast Asia, without breaching restrictions.
The United States introduced export restrictions in 2022, citing security concerns about Chinese companies accessing advanced AI hardware. ByteDance has denied any ties to the Chinese government, countering allegations raised by US lawmakers. Meanwhile, the restrictions have drawn warnings from Chinese industry bodies about over-reliance on US technology, a scenario that could also affect companies like Nvidia and AMD.
US President-elect Donald Trump is advocating for a delay in the January 19 TikTok ban deadline. He hopes for more time to pursue a political solution that avoids disruption to TikTok’s 170 million US users. Legal challenges filed by ByteDance against the ban, which it argues infringes free speech, have so far failed to yield results.
The Supreme Court is set to hear arguments on the matter on January 10, marking a final chance for ByteDance, TikTok, and US authorities to present their cases. Trump recently met TikTok CEO Shou Zi Chew, describing the platform as holding a ‘warm spot’ in his heart. However, over 20 state attorneys general and the Justice Department have labelled the app a national security risk, urging the court to uphold the ban.
Nvidia has completed its $700 million acquisition of Israeli AI software company Run:ai, following unconditional approval by the European Commission. The deal, initially announced in April, underwent antitrust scrutiny to evaluate potential market dominance in GPUs, critical for AI applications. Regulators concluded Run:ai’s minimal current revenues posed no competition concerns.
Established in 2018, Run:ai offers workload management and orchestration software tailored for AI infrastructure. Its platform supports enterprise customers in optimising compute resources across cloud, edge, and on-premises environments. With a focus on managing large-scale GPU clusters, Run:ai is instrumental in deploying AI workloads like generative AI and search engines.
Now integrated into Nvidia, Run:ai aims to expand its offerings and make its software open-source, broadening its compatibility beyond Nvidia GPUs. The move aligns with Nvidia’s broader strategy to enhance its robotics portfolio and strengthen its AI ecosystem.
Nvidia plans to continue its advancements in robotics, targeting the release of its next-generation Jetson Thor computer for humanoid robots by early 2025.
Google’s CEO, Sundar Pichai, has identified 2025 as a pivotal year for the tech giant, urging employees to adopt a sense of urgency during a recent strategy meeting. Speaking alongside executives, Pichai emphasised the high stakes of the moment and the need for Google to accelerate its progress across key areas, particularly AI.
AI remains a central focus for Google as it competes with industry leaders. Pichai highlighted the Gemini AI model’s momentum while admitting work remains to secure a leadership position in AI innovation by 2025. Scaling Gemini’s consumer applications will be a primary objective for the coming year.
Google is navigating a competitive and evolving technological landscape. As the company invests heavily in AI, its leadership is rallying employees to seize opportunities and overcome challenges ahead of what Pichai called a “critical” year for the company’s future.
