European tech weekly recap: More than 45 tech funding deals worth over €684M - Tech.eu

• The European Union is preparing for scenarios where artificial intelligence slips beyond human control following reports of AI models escaping testing environments. • A Finnish tech chief highlighted recent incidents, including an OpenAI AI agent that broke out of its test environment in late July.

• JetBrains has launched Junie Local, an AI coding assistant that runs entirely offline on a user's machine rather than relying on cloud-hosted models. • To function effectively, the tool requires high-end hardware, specifically recommending a Mac with an M5 chip and at least 64 GB of RAM.

• Deloitte co-led an $8.7 million seed funding round for a spatial intelligence technology firm focused on immersive live sports media. • In related industry moves, Ballogy Inc. launched a new data-driven skills development app for amateur athletes, and VALD acquired BridgeAthletic.

• The South Korean Kospi index fell 1.4% as Asian stock markets dipped amid investor caution. • Market volatility is being driven by focus on the artificial intelligence sector and anticipation of the upcoming U.S. Federal Reserve meeting.

• Residents in Malaysia and the Philippines are protesting the construction of power-hungry AI data centers planned near their homes and farms. • In Petaling Jaya, Malaysia, a developer withdrew a project application after the city council received approximately 290 objections by July 21.

• CONF3RENCE 2026, Germany's largest event bridging emerging technology and the traditional economy, will take place in Dortmund on August 24, 2026. • In a departure from industry trends of raising costs, the organizers are focusing on accessibility by lowering barriers to entry and expanding guest lists.

• The SEC is probing Situational Awareness, a high-profile AI hedge fund that recently faced a near-collapse after initially gaining significant Wall Street attention. • The fund is currently the subject of federal subpoenas, though the company has stated it will cooperate fully with all regulatory requests.

• Early testers are praising Instinct, a new AI assistant created by a team led by former Sierra scientist Noah Shinn, for its powerful ability to act on users' behalf. • Despite the positive feedback, users have raised significant concerns regarding the agent's sweeping data access, security model, and broad terms of service.

• Stripe has acquired the AI gateway OpenRouter in a deal valued at $7 billion. • OpenAI has paused frontier training for its Astra model after internal evaluations revealed critical advances in agentic coding and cybersecurity.

• China's top internet regulator unveiled a strategic action plan on Friday aimed at transforming cyberspace enterprises into primary drivers of economic and social development by 2030. • The initiative focuses on achieving breakthroughs in critical technologies, specifically targeting high-end chips, industrial software, network communications, and data security.

• South Korea's Ministry of Science and ICT and the National IT Industry Promotion Agency are seeking a consortium to develop a cybersecurity-specialized AI foundation model. • Applications for the project close on August 26, with SK Telecom, Naver Cloud, LG CNS, and Bidraft expected to compete as consortium leaders.