Another bounce for AI-related stocks pushes US market higher | Business

• EuroHPC has selected Bull to lead a €387 million contract for the development of the Lumi-AI supercomputer. • This agreement represents the first major contract for Bull following its renationalization by the French government.

• The Vivatech initiative is addressing the significant funding gap facing European AI businesses, which struggle to scale and commercialize despite having world-class research and engineering talent. • The program provides comprehensive support across AI infrastructure, academic research, and commercialization to help transition breakthroughs into market-ready products.

• EuroHPC JU and the LUMI AI Factory consortium have selected Bull to deploy the LUMI-AI supercomputer in a project valued at $450 million. • The investment is split equally between EuroHPC JU and a consortium of partners from Finland, Estonia, Czechia, Norway, Denmark, and Poland.

• U.S. companies are experiencing a significant rise in cyber attacks, with recent security breaches affecting major AI firms including OpenAI and Anthropic. • In response, the White House announced the creation of a coordination group in July to help AI developers and critical infrastructure operators share information on system vulnerabilities.

• Finland is constructing LUMI-AI, a high-performance computing facility funded by a €387.8 million investment. • The system will utilize AMD MI430X accelerators and 256-core EPYC processors to significantly expand Europe's AI and HPC capacity starting in 2027.

• Financial Stability Board (FSB) chief Bailey has warned that the emergence of new AI models poses a growing risk to global financial stability. • Bailey emphasized the urgent need for robust response and recovery capabilities, specifically the ability to restore critical systems and data from "bare metal" after major cyber incidents.

• ASE Technology CEO and SEMI Global Board Executive Committee Chair Tien Wu stated that the early growth of AI is causing a short-term shortage of land, talent, capital, and power in Taiwan. • Speaking at a pre-show conference on August 31, Wu emphasized Taiwan's indispensable role in the global technology ecosystem despite these resource pressures.

• Campaign Asia released its weekly "Move and win" roundup on August 31, 2026, detailing recent business wins and executive appointments across the industry. • Key companies featured in the roundup include Supermassive, Singlife, Chop Shop, Visa, AKQA Australia, Havas Play, OpenAI, Nova Studio, Edge Marketing, and Influence Matters.

• Over €475 million was invested across more than 35 European tech funding deals last week, alongside more than five exits and M&A transactions. • The space sector led investment at €160.9 million, followed by artificial intelligence (€81.2 million) and software (€69.9 million).

• Oracle is planning another round of job cuts, with managers currently submitting lists of employees whose roles may be eliminated. • The company aims to reduce its payroll by September 1, coinciding with the start of Oracle's fiscal second quarter.

• Indian AI platform AI Fiesta has expanded its operations into Singapore and the Philippines through strategic partnerships with telecommunications providers giga! and Globe Telecom. • Founded in 2025, the platform now serves over one million users across India, Nepal, Bhutan, Singapore, and the Philippines.

• Tech Innovators has secured $50 million in funding from Venture Capitalist Alpha to advance artificial intelligence development. • The investment highlights a growing trend where Southeast Asian investors prioritize founders who demonstrate strong market insight, execution, and credible scale.