Europe’s AI worriers

Report urges an ambitious effort in AI to keep the continent from sliding into irrelevance. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Market Snapshot CSOP SK Hynix Daily 2x Leveraged Product HK$109.45 +3.3% SK hynix Inc ₩2,180,000 +2.0% Kioxia Holdings Corp ¥81,870 +8.5% Market data as of 02:40 AM ET. Data is subject to provider delays. Your watchlist Top Stories Meta’s Manus divorce: The social media company has erected a firewall between its operations and the AI company it acquired for $2 billion. The Chinese government wants to break up the deal. Amazon’s water use: The company pushed back against complaints that data centers are using a disproportionate amount of the world’s resources. Here are the numbers Amazon released. Adobe’s leadership vacuum: The software company is losing its veteran chief financial officer just three months after its longtime chief executive officer said he would be stepping down. Investors are worried about the departures. Top Reads Korea Fines Coupang Record $409 Million for Data Breach A South Korean regulator fined the country’s largest e-commerce platform, owned by US-listed Coupang Inc., a record 624.7 billion won ($409 million) for a wide-ranging cyber-intrusion that escalated into a diplomatic tiff with the US. Kioxia Becomes Japan’s Most Valuable Firm as AI Mania Goes On Memory chipmaker Kioxia Holdings Corp. replaced Toyota Motor Corp. to become Japan’s largest company by market value, underscoring how the global artificial intelligence boom is reshaping the country’s corporate landscape. SpaceX Is Being Treated as ‘Simply Too Risky’ for Funds With Governance Mandates The list of sustainability-focused fund managers opting to blacklist SpaceX is growing, as they contemplate the unprecedented level of control that Elon Musk will hold over the rockets-to-chatbot behemoth. Beyond The Brief A group of researchers came up with a novel way to sound the alarm that Europe is slipping into “irrelevance” in the competition to develop and use artificial intelligence, Mark Bergen reports in today’s Tech In Depth. The researchers wrote a sci-fi novella in which they imagined a time when Europe had failed to keep up — and offered a prescription for change, he writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. This Week In Q&AI A number of government officials and tech industry executives are raising an idea that the US create a public wealth fund to take stakes in AI firms and spread the returns among the American people, Shirin Ghaffary reports in this week’s Q&AI. The details remain very vague, she writes, but the idea is a recognition of the public unease that the technology is generating great wealth for a small sliver of society. You’ve got questions about AI. We’ve got answers. Sign up for Bloomberg Technology’s weekly Q&AI newsletter. Before You Go... Banks Curb Hedge Fund Bets on SK Hynix, Samsung After Rally Global banks are curbing hedge funds’ leveraged bets on Asia’s top chipmakers including SK Hynix and Samsung after a blistering rally this year raised concerns of a potential pullback, according to people familiar with the matter. Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |