India can still build AI winners despite US, China lead, says Accel's Subrata Mitra

• Amazon has announced a massive $13 billion investment in India, specifically targeting the expansion of its artificial intelligence and cloud computing infrastructure. • Several other startups have successfully secured fresh capital, including healthtech and beauty-focused companies SuperLiving, Bodycraft, and Zave.

• The global luxury sector is entering the second half of 2026 facing a "polycrisis" of geopolitical turbulence, economic volatility, and significant cultural shifts. • A new report by Bain & Company and Altagamma indicates that while these disruptions persist, the industry's underlying fundamentals are showing signs of gradual stabilization.

• GITEX AI EUROPE 2026 will showcase Europe's next generation of deep-tech pioneers, with official support from the Berlin Senate Department for Economics, Energy and Public Enterprises and Berlin Partner for Business and Technology. • The event highlights critical technological challenges, such as Yukihisa Tsuruta of SemiQon noting that current quantum computers lack the scalability required to fulfill their full potential.

• European and Chinese leaders called for a shift from "tech rivalry" to "constructive engagement" during the CEIBS Forums on June 26, 2026. • The leaders warned against zero-sum competition, urging both regions to leverage their complementary strengths in AI industrial application and governance.

• Asian markets experienced a sharp decline on Friday, driven by a global technology sell-off fueled by concerns over AI valuations, rising chip costs, and quarter-end profit booking. • South Korea's KOSPI plummeted 8.2%, leading authorities to halt program trading for 20 minutes, while Japan's Nikkei 225 dropped 5%.

• China’s Zhipu AI has released GLM-5.2, a cost-effective coding model designed to challenge global leaders in artificial intelligence. • The model marks a significant milestone as the first Chinese release to rank in the top three globally on a major industry benchmark.

• Global companies are investing billions of dollars into India's AI infrastructure, cloud computing, and data centers, reflecting strong confidence in the nation's digital expansion. • Despite this trend, HSBC Private Bank's latest Asia investment roadmap prioritizes high-conviction bets on China, Japan, South Korea, and Singapore over India.

• The Five Eyes intelligence alliance has issued a formal warning to government, business, and critical infrastructure leaders regarding the immediate impact of artificial intelligence on cybersecurity. • The agencies state that AI is no longer an emerging risk but is actively compressing the cyber threat timeline, increasing the speed and evolving the shape of attacks.

• The "Five Eyes" intelligence alliance has warned that frontier AI models could significantly reshape the landscape of cyberattacks within months. • These advanced AI capabilities are expected to pose urgent security risks to governments, businesses, and nations like South Africa by 2026.

• Europe currently faces a massive AI infrastructure deficit, hosting only 5% of global compute capacity compared to nearly 75% in the United States. • McKinsey projects that European data center demand will triple from 10 GW of IT load in 2024 to 35 GW by 2030, driven primarily by AI requirements.

• Cyprus participated in the "London Tech Week" technology and innovation exhibition from June 8 to 10, 2026, featuring a dedicated pavilion. • The initiative was a collaboration between the Ministry of Energy, Commerce, and Industry, the Cyprus Trade Center in London, and Invest Cyprus.