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China’s AI revenue projected to reach US$13b on breakthroughs, adoption: Goldman Sachs
China’s AI revenue projected to reach US$13b on breakthroughs, adoption: Goldman Sachs Bank forecasts a sharp revenue surge after Chinese AI models slash costs, boost capabilities and capture global token share Goldman Sachs lifted projected year-end ARRs of Hong Kong-listed Zhipu AI and MiniMax to US$2.5 billion and US$1 billion, respectively. “We expect competition for the best performance-to-price balance to intensify among Chinese AI models,” the report said, noting that recent releases...
US-Japan trade thaw driven by shared yen for stronger currency
A rare joint intervention to stabilise the yen has given US-Japan relations a near-term lift, according to analysts. But whether that goodwill endures depends on how long the currency’s rebound can survive mounting market and policy pressures. Friday’s operation, Washington’s first yen purchase since 1998, came after the Japanese currency had slumped to a four-decade low of almost 164 yen to the US dollar.
Kenya's stock exchange plans East Africa's first AI-focused ETF
Kenya's stock exchange plans East Africa's first AI-focused ETF NAIROBI, Aug 5 : Kenya's Nairobi Securities Exchange is creating East Africa's first AI stocks-focused exchange-traded fund, which it plans to offer to investors before year-end, its CEO said. The Nairobi market attracts a sizeable proportion of foreign equity investors given its profitable banking sector and telecoms operator Safaricom, but it does not currently offer exposure to AI stocks. "We want essentially to be able to...
Anthropic's Mythos created fake identities to fool humans in new cyber incident
Anthropic's Mythos model created fake online identities as it looked to pressure humans into approving malicious code updates to an open source project, marking yet another cyber incident carried out by a frontier AI system. The incident happened during a cyber evaluation where the U.K.-based AI Security Institute (AISI), a research body, had removed safeguards, disabled some safety filters, and deliberately given the models Internet access. OpenAI's GPT-5.6-Sol was also involved in other...