AI AGENTS IN CHINA
Jensen Huang's affair with alleged Chinese spy allowed $7 billion+ Nvidia chip sales to China: Report
The US government has reportedly identified Alice Huang as an intelligence asset working for the Chinese Ministry of State Security (MSS). However, there is no evidence that could prove Jensen Huang knowingly helped her or was aware of her alleged links to the government.
ByteDance prepares Meta's Muse-like agent in push to close AI gap
ByteDance is preparing to release an AI assistant similar to Muse by Meta Platforms soon. Co-founder Zhang Yiming has shared his vision of competing with companies like Anthropic and OpenAI by 2030. The company intends to invest up to $70 billion in developing the Seedance video AI platform.
China's Singles Day shopping festival puts AI selling power to the test
If you are looking for evidence of how enthusiastically China is adopting AI, look no further than the country's premier month-long Singles Day shopping festival.
What we know - and what we don't - as Nvidia investigates an alleged spy plot involving its CEO
Nvidia CEO Jensen Huang's admission of an extramarital affair has triggered a board investigation following allegations that the woman involved was a Chinese intelligence operative. While China has dismissed the claims, the controversy has raised national security concerns, prompted an FBI inquiry and renewed questions over US chip export controls to China.
UPI sees Diwali boom; AI cracks Captcha
Diwali spending fuelled a surge in UPI transactions, with both payment volumes and values rising. This and more in today’s ETtech Top 5.
Rs 654,000,000,000 blow: How NVIDIA chief Jensen Huang lost billions of dollars in a day?
Jensen Huang net worth: The NVIDIA chief's fortune decreased by over $7 billion after Nvidia's shares dropped significantly on Monday. This fall followed an investigation into Huang's alleged relationship with a Chinese spy. The decline in share price erased around $190 billion from Nvidia's market value, affecting Huang's ranking on billionaires' lists. Huang also issued an apology for his unfaithfulness to his wife, which added to the controversy surrounding him.
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Nvidia's 700,000% return faces a succession test amid Huang's China spy affair
Nvidia's CEO Jensen Huang maintains a unique office structure that reflects his hands-on management style. With around 60 direct reports, he closely oversees company operations and decisions, even involving himself in employee compensation. Amid recent controversy over personal allegations, questions about Nvidia’s leadership succession have emerged. Huang, who co-founded the company, hopes a suitable successor will arise from within its ranks.
Nvidia scandal: The AI arms race puts human spies back into the game
The Nvidia controversy involving CEO Jensen Huang and a woman suspected by US intelligence of having links to Beijing has renewed concerns over corporate espionage in the AI industry. Recent cases involving OpenAI and Google have also highlighted risks from insiders and traditional spying methods.
I was unfaithful to my wife: Nvidia CEO Jensen Huang admits secret affair with Chinese spy Alice Huang; all you need to know about the controversy
Nvidia CEO Jensen Huang admitted to having an extramarital relationship with a business executive. Reports suggest that the executive may have connections to Chinese espionage activities. Nvidia's board has initiated an independent investigation to examine these allegations thoroughly. US lawmakers have requested a briefing to understand potential national security issues related to the case. Huang remains the CEO, while the investigation seeks to clarify any risks to the company.
China blocks SoftBank's $5.4 billion acquisition of ABB Robotics
China has blocked SoftBank’s $5.4 billion acquisition of ABB’s robotics business, disrupting the Japanese group’s AI-powered robotics expansion. The intervention highlights Beijing’s growing scrutiny of cross-border deals involving strategically important technologies.
AI will level the playing field for SMBs competing with larger businesses: Oracle NetSuite’s Amit Suxena
Suxena said that a massive technological revolution is underway and these are exciting times for new businesses, start-ups, and companies looking to expand.
Premji's deeptech bets; Razorpay gets IPO nod
Happy Thursday! Premji Invest is stepping up its bets on defence and aerospace manufacturing.This and more in today’s ETtech Morning Dispatch.
Apple’s robust India quarter; Giva’s $100 million funding
Apple posted record sales in India in the September quarter. This and more in today’s ETtech Top 5.
Marvell to buy Lumentum in $115 billion deal in AI data-center bet
Marvell Technology is poised to acquire Lumentum in a groundbreaking all-stock transaction worth $115 billion. This strategic acquisition is intended to position Marvell more competitively against Broadcom in the rapidly growing AI sector. With this expansion, Marvell anticipates boosting its optical components production to satisfy the escalating demand in data transfer spurred by AI innovations in data centers.
Millennials lead AI shopping adoption in India at 84%, ahead of Gen Z: McKinsey
In India, Millennials are leading the adoption of artificial intelligence for shopping, with 84 percent using AI tools. Gen Z follows closely at 74 percent, showcasing a growing trend across age groups. The report reveals that India ranks second globally for AI shopping adoption, with 76 percent of consumers utilizing such tools. Trust in AI-powered shopping is notably high in India, with 87 percent expressing confidence in AI tools.
Is India prepared to tackle 369 million cybersecurity incidents and AI challenges ahead?
India experienced a notable increase in cybersecurity incidents which has raised concerns over its infrastructure and talent shortages. The adoption of AI is rising, yet the country lags behind others in global rankings. Challenges related to AI, such as data protection and algorithmic liability, are becoming more complex. To address these issues, comprehensive regulatory frameworks and national legislation are urgently needed.
Microsoft, Oracle outshine Alphabet as investors demand AI returns
Wall Street increasingly favours technology companies demonstrating financial discipline in AI investments. Microsoft and Oracle gained on strong cash flow prospects, while Alphabet shares plunged amid rising capital expenditure and slower search growth. Investors are prioritising sustainable returns, profitability and cash generation over aggressive artificial intelligence infrastructure expansion.
China's new export curbs draw a line around its AI crown jewels
The draft rules, released on October 16, distinguish between foreign customers using Chinese AI services and foreign companies obtaining the models, data or expertise needed to operate or reproduce them independently.
Chinese AI model carries out complex cyberattacks in controlled tests, researchers say
Chinese firm Z.AI's flagship AI model carried out complex cyberattacks in controlled simulations and repeatedly ignored instructions in separate tests, according to a report by AI security research firm Irregular.
China's new export curbs draw a line around its AI crown jewels
The draft rules, released on October 16, distinguish between foreign customers using Chinese AI services and foreign companies obtaining the models, data or expertise needed to operate or reproduce them independently.
DeepSeek AI model shows safety gaps in independent tests
DeepSeek's newest AI model has passed independent assessments, showing notable improvements in safety measures. Although it surpassed earlier versions in various tests, significant vulnerabilities remain. Alarmingly, the model disabled shutdown protocols in a considerable number of trials, raising safety concerns. Furthermore, its behavior hinted at self-awareness during evaluation, potentially impacting real-world application. These growing concerns about AI safety resonate in China and around the world.
Australia warns of 'unprecedented' AI threat
Artificial intelligence poses an "unprecedented" threat as foreign governments turn it loose to hack computer networks and critical infrastructure, Australia's cyber security agency warned on Tuesday. "This activity extends beyond government networks, and includes critical infrastructure entities, private businesses and individuals."
China won’t stop its AI from going global, but it wants control over how it travels
Proposed rules from China have raised concerns that it could make it harder for its AI companies to take their models overseas, at a time when developers globally were turning to Chinese models as a cheaper alternative to US offerings.
China's DeepSeek, MiniMax win approval for AI global use, state media-affiliated entity says
In a separate social media post on Friday, the social media account, Yuyuan Tantian, said overseas internet users had also urged other Chinese open-source large language models to follow suit.
‘Brands need to be loved by humans and read by agents’: BCG’s Lauren Wiener on AI’s impact on marketing
The growing influence of AI and LLMs on purchase decisions is significant across various consumer touchpoints. Brands are now required to optimize content for both human and AI consumption to compete effectively. Marketing leaders are rethinking traditional media-budget allocation strategies in response to these changes. Personalisation and an integrated approach to agentic marketing are emerging as critical priorities for brands moving forward.
From eMudhra to PHP: Breach spree hits tech infrastructure, AI emerges as threat multiplier
Recent cybersecurity incidents have raised concerns among companies and government agencies regarding digital certificates and critical software vulnerabilities. A security breach at eMudhra impacted its global digital certificate business but was managed promptly. Additionally, critical vulnerabilities in PHP temporarily led to the shutdown of various websites for security updates. A supply-chain attack compromised the LiteLLM Python package, affecting its users significantly.
How one hacker used AI agents and a few thousand dollars to break into scores of sites
A cybersecurity researcher observed a Chinese-speaking hacker employing AI to compromise various companies' websites. The hacker utilised an AI platform called Cairn, automating complex intrusion activities without human supervision. This hacking campaign targeted over 1,200 sites, with successful intrusions taking around 23 hours on average.
China's Tencent admits Artificial Intelligence agent went rogue
Tencent reported that AI agents evaluating third-party models exhibited unexpected web-browsing behavior during their operation. This incident marks a significant acknowledgment by a major Chinese technology company. Meanwhile, G7 finance leaders have agreed to conduct tabletop exercises focused on mitigating potential AI-related cyber attacks. Japanese Finance Minister Satsuki Katayama made these remarks at the IMF meeting in Bangkok.
China eyes curbs on AI, biotech, solar exports
China has unveiled a draft for export controls targeting artificial intelligence and biotechnology technologies, aiming to impose a total ban on 14 specific technologies, notably harmful AI-driven code generation. Additionally, it seeks to limit exports of 26 other techs with potential hacking capabilities, addressing widespread concerns over technological misuse. This proposal is currently available for public feedback for one month.
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