Asia's economies avert energy shock via fiscal buffers, AI boom - The Business Times

• Chinese AI startup Moonshot has confidentially filed for an IPO in Hong Kong, aiming to raise approximately $3 billion. • The company is leveraging the success of its Kimi K3 model, released in July, and is currently negotiating revenue-sharing agreements with Google, Amazon, and Microsoft to host the model on their cloud platforms.

• Global AI governance has stalled due to superpower rivalry, leading to a shift toward regionalized rule-making. • Regional blocs like ASEAN are moving quickly to implement standards, particularly to combat the rise of AI-driven deepfakes.

• The European Union is implementing an industrial policy plan to build AI infrastructure, urging member states to increase investments to avoid falling behind globally. • Several nations have pledged funding for "gigafactories," with France, Denmark, Poland, and the Czech Republic committing €100 million each for smaller facilities.

• Top European venture capitalists have identified 17 deeptech startups to watch across sectors including AI, quantum, defense, climate hardware, and industrial technology. • Among the highlighted firms is SiC Systems, a company founded at the Technical University of Denmark by Professor Mansouri and co-founder Savoie, a former architect of Siri's software.

• AI model-training startup AfterQuery has become Y Combinator's fastest-ever unicorn, reaching a valuation of $3.2 billion. • The company's valuation saw a massive 10x increase in just five months, jumping from $300 million following its $30 million Series A round in April.

• The UK government is advancing a cyber bill that focuses on the users of AI rather than the vendors and developers building the technology. • Cybersecurity minister Baroness Lloyd of Effra rejected proposed "red lines" and emergency shutdown powers, arguing that regulating developers would not stop hostile actors from misusing AI.

• September 2026 market reports indicate a significant surge in startup funding, with capital heavily concentrated in AI-related sectors and adjacent industries. • AI investments now encompass a broad range of technologies, including frontier models, agent systems, robotics, enterprise automation, and specialized hardware.

• Hong Kong Free Press (HKFP) has joined the SPUR Coalition as an associate member to combat the unpaid use of its original reporting by AI companies. • The move aims to establish a fair, rules-based relationship with AI firms that have historically benefited from the newsroom's journalism without providing compensation.

• Several EU nations are investing in "gigafactories" to bolster data center infrastructure and digital sovereignty. • France, Denmark, Poland, and the Czech Republic have each pledged €100 million for smaller facilities, while Portugal, Spain, Germany, Italy, and Greece plan to invest €200 million each for larger sites.

• Emerging startup trends for September 2026 indicate that venture capital is flowing selectively rather than evenly across the market. • AI continues to be the primary driver of investment, with specific growth seen in vertical AI, robotics, cybersecurity, defense tech, and GovTech.

• The 22nd annual Funds Europe Awards will feature private markets across various categories. • The awards will recognize excellence in management, innovation, and administration.