Proton Intelligence, a Canadian startup, has raised $6.95 million in a seed round to develop a wearable device for continuous potassium monitoring. The device, which will be inserted just under the skin, will connect to a smartphone app, allowing patients to track potassium levels and receive alerts if they fall out of a safe range. The product, currently in clinical trials, is expected to launch in 2025.
The company’s solution aims to address the life-threatening challenges of potassium imbalances, which are particularly dangerous for those with chronic kidney disease or at risk of heart failure. Proton’s device also includes a clinician dashboard, enabling healthcare providers to monitor trends and adjust therapies.
Proton was co-founded by CEO Sahan Ranamukhaarachchi and CSO Victor Cadarso, who both have extensive backgrounds in wearable biosensors. Ranamukhaarachchi emphasised that the device could prevent hospitalisations and sudden cardiac deaths by offering continuous monitoring, a critical step in managing potassium levels.
The startup faces competition from other companies in the space, such as AliveCor, Alio, and Renalyse, but Proton claims its technology offers superior accuracy and usability. The seed funding round was led by SOSV, with additional support from We Venture Capital, Tenmile, LongeVC, and others.
Singapore has solidified its position as a leading hub for the cryptocurrency industry, granting 13 new licences in 2024, double the number issued the previous year. Major firms like OKX, Upbit, Anchorage, and BitGo have benefited from the city-state’s supportive regulatory environment, which encourages innovation and tokenisation projects.
Meanwhile, Hong Kong’s slower approach has hampered its competitiveness. Though the city has fully licensed seven platforms, including four in December, restrictive policies on asset custody and token listings have deterred some firms. Notable exchanges like OKX and Bybit have withdrawn their applications without explanation, highlighting the challenges posed by the region’s cautious framework.
Analysts point to China’s influence as a limiting factor for Hong Kong’s crypto ambitions. With crypto trading banned in mainland China, Hong Kong faces a unique risk profile. By contrast, Singapore’s forward-thinking regulations and welcoming environment have made it a preferred choice for firms seeking a secure, long-term base in Asia.
Apple is closing in on a historic $4 trillion market valuation, driven by investor enthusiasm over its advancements in artificial intelligence and hopes for a surge in iPhone upgrades. Shares have surged 16% since November, adding $500 billion to its market cap, and positioning Apple ahead of rivals Nvidia and Microsoft in the race to this milestone. Analysts attribute the rally to expectations of a new “supercycle” in iPhone sales fueled by AI enhancements, despite modest revenue growth projections for the holiday season.
Apple’s integration of AI tools like OpenAI’s ChatGPT across its devices and apps marks a strategic pivot in a market long dominated by Microsoft, Alphabet, and Meta. Although iPhone demand remains muted, analysts forecast a rebound in 2025, as AI-powered features and broader availability drive renewed interest. Meanwhile, Apple’s premium valuation—its price-to-earnings ratio recently hit a three-year high of 33.5—has sparked mixed reactions among investors, with Warren Buffett’s Berkshire Hathaway scaling back its holdings.
Despite challenges such as geopolitical risks and fluctuating market conditions, Apple’s approach to this milestone underscores its enduring dominance in the tech sector. Analysts and investors remain optimistic about the company’s ability to navigate near-term hurdles and leverage AI innovation to maintain its leadership in a competitive landscape.
The Philippine Securities and Exchange Commission (SEC) has unveiled a draft of its ‘SEC Rules on Crypto-Assets Service Providers’ to regulate the country’s booming crypto market. The new proposal aims to establish clear guidelines for service providers involved in activities like trading, custody, and public offerings of crypto-assets, which are defined as digital representations of value using distributed ledger technology.
As the Philippines continues to attract a growing number of cryptocurrency users, especially among its tech-savvy population, the SEC’s rules focus on mitigating risks like fraud and market manipulation while promoting innovation. Under the draft rules, service providers must register with the SEC and comply with the standards outlined in the Financial Products and Services Consumer Protection Act. They will also face strict capital requirements and must submit detailed disclosure documents before marketing crypto-assets to the public.
The proposal also places heavy emphasis on cybersecurity and anti-money laundering measures. Service providers will need to align their systems with the National Cybersecurity Plan and undergo regular audits. Additionally, practices to prevent insider trading and market manipulation will be closely monitored.
The public has until 18 January 2025, to provide feedback on the draft rules, marking an important step in shaping the future of the crypto industry in the Philippines.
The Biden administration has initiated a trade investigation targeting Chinese-made legacy semiconductors, which power everyday goods like cars and telecom equipment. This ‘Section 301’ probe aims to address concerns about China’s state-driven expansion in chip manufacturing, which US officials warn could harm American semiconductor producers. Departing President Joe Biden had already imposed a 50% tariff on Chinese semiconductors, set to take effect 1 January, while tightening export controls on advanced AI and memory chips.
Commerce Secretary Gina Raimondo revealed that Chinese legacy chips account for two-thirds of semiconductors in US products, with many companies unaware of their origin—a finding she called alarming, particularly for the defence industry. US Trade Representative Katherine Tai stated that China’s subsidised chip pricing threatens global competition, enabling rapid capacity growth and undercutting market-oriented producers.
China’s commerce ministry has criticised the probe, calling it protectionist and a potential disruptor to global supply chains. Meanwhile, a public hearing on the issue is scheduled for March, with the probe expected to conclude within a year. The investigation follows the COVID-19 pandemic’s impact on semiconductor supply chains, prompting the US efforts to bolster domestic chip production with $52.7 billion in subsidies.
As the Biden administration transitions to President-elect Donald Trump’s leadership in January, this probe may offer Trump an opportunity to escalate tariffs on Chinese imports, echoing the trade practices he implemented during his prior term. Critics, including the US tech industry, have urged officials to approach the investigation collaboratively to avoid further disruption.
Microsoft is taking steps to diversify the AI powering its flagship product, Microsoft 365 Copilot. While OpenAI’s GPT-4 model has been a cornerstone of the AI assistant since its launch in March 2023, Microsoft is now integrating internal and third-party AI models, including its proprietary Phi-4, to reduce costs and improve efficiency. This move reflects Microsoft’s broader strategy to lessen reliance on OpenAI, its long-time partner, as it looks to offer faster, more cost-effective solutions to enterprise customers.
The shift is driven by concerns over the high costs and slower speeds associated with OpenAI’s technology for enterprise users. A company spokesperson confirmed that OpenAI remains a partner for advanced models but emphasised that Microsoft customises and incorporates a range of AI models depending on the product. Beyond its collaboration with OpenAI, Microsoft is also customising open-weight models to make its services more accessible and affordable, with potential cost savings for customers.
Microsoft’s approach mirrors similar changes in its other business units. For example, GitHub, acquired by Microsoft in 2018, has started incorporating AI models from Anthropic and Google as alternatives to OpenAI’s offerings. These efforts align with Microsoft’s goal of demonstrating the return on investment for its AI tools, particularly as some enterprises remain cautious about adopting 365 Copilot due to concerns over pricing and utility.
Despite these challenges, Microsoft reports growing adoption of 365 Copilot. The company states that 70% of Fortune 500 companies are using the AI assistant, and analysts predict that more than 10 million users will adopt it this year. As Microsoft continues refining its AI technology, leaders like CEO Satya Nadella are keeping a close watch, underscoring the company’s commitment to innovation in enterprise AI.
Elon Musk’s AI venture, xAI, has unveiled a standalone iOS app for its chatbot, Grok, marking its first major expansion beyond the X platform. The app, currently in beta testing across Australia and a few other regions, offers users an array of generative AI features, including real-time web access, text rewriting, summarisation, and even image generation from text prompts.
Grok, described as a ‘maximally truthful and curious’ assistant, is designed to provide accurate answers, create photorealistic images, and analyse uploaded pictures. While previously restricted to paying X subscribers, a free version of the chatbot was launched in November and has recently been made accessible to all users.
The app also serves as a precursor to a dedicated web platform, Grok.com, which is in the works. xAI has touted the chatbot’s ability to produce detailed and unrestricted image content, even allowing creations involving public figures and copyrighted material. This open approach sets Grok apart from other AI tools with stricter content policies.
As the beta rollout progresses, Grok is poised to become a versatile tool for users seeking generative AI capabilities in a dynamic and user-friendly interface.
Samsung Electronics, Texas Instruments, and Amkor Technology are set to receive a combined $6.75 billion in chip manufacturing incentives from the US Commerce Department. The funding aims to bolster domestic semiconductor production and strengthen the supply chain.
Samsung will receive up to $4.745 billion, slightly reduced from the initial $6.4 billion estimate, reflecting scaled-down investment plans. The South Korean tech giant plans to invest $37 billion by 2030 to build chip production facilities, a research centre, and a packaging site. These projects are expected to solidify the US as a hub for advanced semiconductor manufacturing.
Texas Instruments has secured up to $1.61 billion for expanding its chip production facilities in Texas and Utah. The company is investing over $18 billion through 2029, creating 2,000 manufacturing jobs. Amkor Technology will receive $407 million to help build a $2 billion semiconductor packaging plant in Arizona, its largest in the US. This facility will cater to chips for autonomous vehicles, 5G/6G, and data centres.
These awards form part of a broader $39 billion subsidy programme for domestic semiconductor manufacturing. Over $33 billion of the allocated funding has now been finalised, with the US positioned as the sole nation hosting all five leading-edge chipmakers.
Data centres in the United States could consume up to 12% of the country’s electricity by 2028 due to the rapid growth of AI, according to a new report. The Department of Energy-backed study predicts energy usage from data centres will rise from 4% to between 6.7% and 12%, depending on GPU availability and demand.
The shift to AI-driven infrastructure is driving the surge, with GPU-accelerated servers and cooling systems responsible for doubling power use in recent years. Researchers are calling for annual reports and strategies to track trends and enhance efficiency.
The findings highlight concerns about the impact of AI on power grids, energy bills, and climate change. Researchers also suggest increased transparency in data centre energy use, aiming to encourage efficiency and sustainable growth within the industry.
The UK’s Competition and Markets Authority (CMA) has voiced concerns over Synopsys’ proposed $35 billion acquisition of Ansys, claiming the deal could harm innovation, reduce product quality, and increase costs in the semiconductor design and light-simulation software markets. The regulator fears diminished competition could negatively impact UK businesses and consumers, particularly in sectors such as artificial intelligence and cloud computing, which rely heavily on semiconductor technology.
Synopsys, a leader in chip design software, announced the acquisition in January, aiming to combine its tools with Ansys’ diverse software offerings, used in industries ranging from aerospace to consumer goods. However, the CMA has highlighted risks of reduced consumer choice and a potential stifling of advancements in the sector. If these concerns are not adequately addressed, the regulator may initiate an in-depth investigation into the merger.
In response, Synopsys has proposed selling its optical solutions business to Keysight Technologies, a move it believes will satisfy the CMA’s concerns. A company spokesperson expressed confidence in resolving the regulatory hurdles and expects the deal to close in the first half of 2025. The CMA’s final decision could shape the future landscape of competition in the semiconductor and simulation software industries, as global demand for advanced technologies continues to grow.
