NewzBits — AI News Aggregator | Summarized & Cited

• Shanghai unveiled an AI-powered aviation science fiction theme park in its Lingang New Area, opening to media on Monday, centered on China's Nantianmen Project for immersive aerospace experiences. • The park features interactive exhibits simulating moon landings, hypersonic flight, dual-mode propulsion, metamaterial stealth, directed-energy weapons, and AI decision-making, with a full-scale 'Baidi' sci-fi fighter jet model for pre-flight simulations. • General Manager Zhou Yixiao highlighted hidden games, storylines, and upcoming AI-driven interactive content to enhance visitor engagement.

• London-based Recursive Superintelligence, founded in 2025 by former leaders from OpenAI, Google DeepMind, Meta AI, and Uber AI, has raised $650 million at a $4.65 billion valuation in a round led by GV and Greycroft with participation from AMD Ventures and NVIDIA. • The startup's core technology approach focuses on automating the AI research process itself, developing systems capable of improving their own architecture, training methods, and evaluation processes without continuous human oversight. • The company currently operates from San Francisco and London offices with over 25 researchers and engineers, and plans to use fresh funding to secure large-scale compute infrastructure and run its first Level 1 autonomous training system.

• The International Monetary Fund (IMF) issued a May 7, 2026 alert on growing dangers to global financial stability from artificial intelligence, warning that AI is simultaneously empowering both defensive and offensive cyber capabilities. • Advanced AI models now dramatically reduce the time and cost required to uncover and exploit system vulnerabilities, enabling faster and more widespread attacks that could cascade across interconnected financial markets and infrastructure. • Anthropic's Claude Mythos Preview model demonstrated breakthrough autonomous cyber abilities, identifying and exploiting vulnerabilities in major operating systems and browsers even when operated by non-specialists, signaling how rapidly AI is tilting advantage toward attackers.

The state’s opposition said case was proof ‘the justice system is broken’Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Victorian Labor government says it will “do everything” it can to “toughen consequences” for young offenders after police withdrew 109 charges against a 14-year-old girl, in a case the opposition described as proof “the justice system is broken”.The girl, who cannot be identified for legal reasons, had been facing 109 charges, including reckless conduct endangering serious injury, motor vehicle theft and burglary, after an alleged two-month crime spree earlier this year when she was aged 13. Continue reading...

US president says he and his Chinese counterpart have ‘known each other for a long time’ and Xi is ‘great leader’Trump in Beijing – latest updatesFive key issues for Xi-Trump summitThe US president, Donald Trump, has met China’s leader, Xi Jinping, for a momentous summit that will pack negotiations on global conflict, international trade and the future of artificial intelligence into just over 24 hours.Trump arrived at the Great Hall of the People, an imposing Mao-era building that borders the western edge of Tiananmen Square, on Thursday morning for an opening ceremony followed by an hour of face to face talks with Xi. Continue reading...

UK expert tells Australian inquiry how antisemitism developed and that governments must define it in order to develop policies against itFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastOld tropes about Jewish people – such as those found in the fraudulent and debunked Protocols of the Elders of Zion – have morphed and been melded into modern-day antisemitism, the royal commission has heard.On Thursday morning, the royal commission into antisemitism and social cohesion heard from Dr Dave Rich, the Community Security Trust’s policy director. Continue reading...

Reputation of Australia’s big supermarkets takes another hit as federal court finds Coles misled shoppers by promoting fake discountsGet our breaking news email, free app or daily news podcastColes’s “Down Down” promotion is one of Australia’s best known campaigns. But the supermarket has been caught red-handed after a federal court judge found Coles misled shoppers by promoting fake discounts.Through its proceedings, Australia’s competition regulator has given consumers an intriguing look-behind-the-curtain moment, exposing how a major supermarket sways shoppers to buy its products. Continue reading...

GDP reading ties in with some surveys suggesting UK plc has kept up momentum despite rising fuel costsThe UK economy unexpectedly grew during the first full month of the Iran war, according to official figures, suggesting the Middle East conflict has not yet affected growth as much as feared.Figures from the Office for National Statistics (ONS) showed growth of 0.3% in gross domestic product (GDP) in March, from a revised 0.4% rise in February and 0% growth in January. The ONS had originally estimated that the economy grew 0.5% in February and 0.1% in January. Continue reading...

• Wall Street traded mixed on Wednesday morning, with the S&P 500 down 0.1%, Dow Jones Industrial Average dropping 235 points or 0.5% at 9:35 a.m. ET, and Nasdaq up 0.2% amid a technology sector rebound. • Tech stocks like Micron Technology surged 4.3% and Nvidia rose 2.4%, the top gainer on the S&P 500, following a pause in AI-driven momentum; Nvidia CEO Jensen Huang was invited by President Trump to discuss AI chip shipments to China. • A wholesale inflation report showed prices significantly higher than expected last month, following Tuesday's consumer inflation acceleration, driven by rising fuel, transportation, food prices from tariffs, weather, and oil disruptions from the Iran war.

• A Santander US survey for Q1 2026 found nearly 8 in 10 Americans (78%) believe they are on the right track toward financial prosperity, marking a significant improvement in sentiment. • The share of respondents feeling financially insecure dropped to a survey low, indicating resilient consumer confidence amid economic pressures. • This optimism contrasts with recent inflation reports, suggesting households are adapting well to rising costs in fuel and food.

• The ongoing conflict in the Middle East has driven up oil prices, expected to slow US economic growth compared to a no-conflict baseline scenario, according to Deloitte analysis. • Despite pressures from elevated energy costs, US firms are unlikely to materially reduce investment plans due to resilient growth in AI and technology sectors. • Higher oil prices will affect US consumers through increased costs, though broader economic resilience from AI investments may mitigate some impacts.

• Asian markets opened lower but mostly recovered on May 13, with MSCI Asia-Pacific shares outside Japan rebounding to a 0.3% gain after an initial 1% drop, driven by AI optimism offsetting US inflation and stalled US-Iran talks. • Japan's Nikkei 225 rose 0.8% to around 62,774, South Korea's Kospi surged 2.6% to a record 7,708-7,844 after falling 3.2% on Samsung Electronics' failed union pay deal, while Australia's S&P/ASX 200 slipped 0.3% to 8,645. • Brent crude fell 1.4% to $106.32 and US crude to $101.60 amid Middle East tensions, US 10-year Treasury yield eased to 4.459%, and dollar held steady at 98.369 against peers.

• South Korea's Kospi index plummeted as much as 3.2% early on May 13 due to Samsung Electronics failing to reach a pay deal with its union, but rebounded sharply 2.6% to close at a record 7,708-7,844. • The recovery was aided by government efforts to manage the labor situation and broader AI optimism reviving market sentiment despite US inflation data and Iran tensions. • This standout performance contrasted with mixed regional moves, highlighting Korea's volatility amid corporate labor issues and tech sector strength.

• Global hedge funds ramped up investments in Asia, with weekly buying of South Korean, Japanese, and Taiwanese stocks reaching a 10-year high for the week ending May 7, according to a Morgan Stanley report. • The surge, the heaviest in over a decade in notional terms, was driven by clients across all regions and strategies targeting Asia's technology sector amid the AI boom. • Hedge funds' net exposure to Japan, South Korea, and Taiwan has risen to its highest since 2010, now at about 19% of global positioning, focusing on semiconductors and hardware in the AI supply chain.