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UBS's latest report shows a record increase in billionaires worldwide, reaching 2,919 with collective wealth of $15.8 trillion. Women are outpacing men in wealth growth for four consecutive years, and inheritance continues to drive the rise, especially in the US and Europe. The billionaire class is diversifying and expanding rapidly.
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US technology companies, including OpenAI, Nvidia, and CoreWeave, plan to announce billions of dollars in UK investments during President Trump's visit. The focus is on expanding AI infrastructure and data centres amid regulatory pressures and government initiatives to support AI growth zones.
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China is intensifying efforts to develop self-sufficient AI chips amid US restrictions. Huawei announced a breakthrough in domestic AI hardware, while Beijing is pushing to reduce reliance on US technology by building a comprehensive local supply chain. Meanwhile, US-China relations show signs of pragmatic cooperation despite ongoing strategic competition.
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Nvidia plans to invest $100 billion in OpenAI to build AI data centers with at least 10 gigawatts of power, aiming to accelerate AI development. The deal highlights ongoing challenges in securing sufficient electricity for data center expansion amid strained US power grids.
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President Trump talked with Xi Jinping about Nvidia's access to China, emphasizing ongoing discussions with the chipmaker. He clarified that the talks do not include Nvidia's latest Blackwell accelerators, amid broader concerns over US-China tech relations. The story highlights ongoing US-China tech diplomacy and Nvidia's role in the sector.
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Chinese GPU startup Moore Threads received approval for an IPO on the Shanghai Stock Exchange, aiming to raise 8 billion yuan ($1.12 billion). The company, founded in 2020 by ex-Nvidia executive Zhang Jianzhong, seeks to boost domestic AI chip development despite US sanctions and geopolitical tensions. The IPO was approved in just 88 days, reflecting China's push for semiconductor self-sufficiency.
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The US is exploring ways to reduce reliance on Taiwan for semiconductor manufacturing, aiming to bring more supply chain capacity home. Discussions involve Taiwan's investment and security guarantees, amid concerns over China's threats and global chip shortages. South Africa and Africa are also in talks for trade agreements.
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As of October 2025, OpenAI's valuation surged to $500 billion following a $6.6 billion secondary share sale by current and former employees to investors including SoftBank, Thrive Capital, and MGX. Despite not yet turning a profit, OpenAI has secured massive AI infrastructure deals with Oracle, Nvidia, and AMD, fueling rapid growth and complex partnerships across Silicon Valley's AI ecosystem.
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As of late October 2025, major financial institutions including the Bank of England and IMF warn that soaring valuations in AI-driven tech stocks resemble the 2000 dotcom bubble peak. The S&P 500 is heavily concentrated in a few AI-focused firms, raising risks of a sharp market correction. Despite this, industry leaders emphasize AI's transformative potential and ongoing infrastructure investments.
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As of mid-October 2025, OpenAI has secured major deals to expand its AI computing infrastructure, including a $100 billion partnership with Nvidia for 10 gigawatts of data center power, a multibillion-dollar agreement with AMD to deploy 6 gigawatts of AI chips starting in 2026 with an option to acquire a 10% stake, and a new pact with Broadcom to co-develop 10 gigawatts of custom AI accelerators by 2029. These deals reflect OpenAI's aggressive push to meet soaring AI compute demand amid concerns over power supply and infrastructure.
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Salesforce CEO Marc Benioff initially supported deploying the National Guard to San Francisco to address safety concerns but has since retracted his statement after facing criticism from city leaders and allies. The controversy emerged amid broader debates over federal intervention and city safety policies, with recent developments showing a shift in his stance.
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Internal documents reveal AWS is losing early-stage startup customers to AI-focused platforms, as startups delay traditional cloud adoption and shift toward specialized AI tools. Meanwhile, a global AWS outage impacted users across continents, highlighting ongoing cloud vulnerabilities. These developments signal a major transformation in cloud computing driven by AI innovation.
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The US transportation safety regulator has launched a preliminary investigation into a Waymo autonomous vehicle that failed to stop for a school bus in Atlanta, Georgia, on September 22. The incident involved the vehicle passing a stopped bus with flashing lights and deployed stop arm, raising safety concerns. No safety operator was present, and Waymo has committed to software improvements. The investigation covers about 2,000 Waymo vehicles and follows multiple prior reviews of the company's self-driving systems.
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Recent articles highlight major developments in automotive AI, including GM's rollout of Level 3 autonomous driving in 2028, Lucid's partnership with Nvidia for Level 4 systems, and GM's overhaul of vehicle architecture. Tesla's LiDAR skepticism and GM's AI integration reflect industry shifts toward smarter, safer vehicles.
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On October 24, 2025, after federal agents arrived at the Coast Guard base in Alameda for planned immigration enforcement, a U-Haul truck reversed toward officers, prompting Coast Guard personnel to fire shots. President Trump suspended the planned National Guard deployment to San Francisco following calls from tech CEOs and Mayor Daniel Lurie, who emphasized local progress on crime reduction.
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Leading companies including Microsoft, JPMorgan, Walmart, and Goldman Sachs are rapidly expanding their AI initiatives. They focus on in-house model development, workforce training, and integrating AI into operations, amid ongoing debates about job impacts and strategic advantages. The story highlights recent investments, partnerships, and workforce transformations as of November 2025.
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San Francisco's mayor proposes a zoning plan to increase housing density, including taller buildings and more affordable units, amid protests and political opposition. The plan aims to address the city's housing shortage but faces resistance from residents concerned about neighborhood character and views. The debate highlights tensions over growth and preservation.
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California's proposed '2026 Billionaire Tax Act' aims to fund Medicaid and public education by taxing the net worth of the state's wealthiest residents. Supporters, including SEIU, argue it will prevent healthcare cuts, while opponents question its feasibility. The measure needs signatures to appear on the 2026 ballot.
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During the APEC Summit 2025, Nvidia announced a major partnership with South Korea, supplying over 260,000 GPUs to enhance the country's AI infrastructure. The deal involves collaborations with Samsung, Hyundai, and other firms, aiming to advance manufacturing, autonomous mobility, and AI research. The move underscores South Korea's AI ambitions amid global tech competition.
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The U.S. and South Korea are deepening military cooperation amid North Korean missile tests. The U.S. aims to modernize South Korea's military and increase regional stability, with South Korea pledging an 8.2% defense budget rise. The focus remains on deterring North Korea and managing regional threats.
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Tech entrepreneurs and workers are increasingly emphasizing San Francisco in their online profiles to attract investment and build connections. This trend reflects the city’s renewed status as a tech hub amid rising AI investment, despite past criticisms during the pandemic.
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The UK government faces mounting pressure to support its science and technology sectors. Reports highlight risks of losing investment and talent to the US and other countries, with calls for policy reforms to boost innovation, attract global talent, and lead in quantum and AI development.
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As of December 2025, major tech firms including HP, Amazon, Meta, and IBM are accelerating AI adoption, leading to thousands of job cuts and workforce shifts. HP plans to cut up to 6,000 jobs by 2028, citing AI-driven productivity gains. Meanwhile, AI-assisted "vibe coding" has been named Collins Dictionary's 2025 word of the year, reflecting a transformative shift in software development and workplace culture.
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On November 7, 2025, Tesla shareholders approved a $1 trillion pay package for CEO Elon Musk, contingent on ambitious targets over the next decade, including boosting Tesla's market cap to $8.5 trillion, selling 12 million vehicles annually, and deploying one million robotaxis and humanoid robots. The package is the largest in corporate history but has drawn criticism over its size and Musk's political controversies.
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Chinese AI firms, including DeepSeek, are gaining ground amid US-China tensions. Experts warn AI could eliminate many jobs in the next 10-20 years, urging tech companies to act as guardians. China's government supports local AI development, narrowing the US lead. The US faces strategic challenges in maintaining AI dominance.
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Saudi Arabia commits to investing $1 trillion in AI infrastructure, partnering with U.S. firms like Nvidia, AMD, and Cisco. Musk's xAI will deploy its chatbot Grok across the kingdom, aiming to turn Saudi Arabia into a major AI hub amid US export restrictions and regional ambitions.