South Korea chip fund: South Korea plans chip windfall fund to back youth, AI investment - The Economic Times

• Safe Tech International is hosting a series of events featuring speakers such as Peter Cowan, Magda Havas, Mark Baker, and Dr. Ronald Melnick. • A key session will examine Alaska's tech landscape, focusing on lessons from other regions and the impact of upcoming data center proposals on local communities.

• South Korea is launching a "Future Fund" designed to promote long-term economic growth by investing in emerging industries. • The fund will be financed using "windfall revenue" generated from increased tax collections, largely driven by the current global semiconductor boom.

• The US government is considering extending export controls to cloud services to prevent China from accessing advanced AI models and computing power. • This move follows a surge in Chinese AI capabilities and aims to close loopholes that allow Chinese firms to bypass hardware restrictions via third-party cloud providers.

• Peeko raised $7 million in funding, while Tross secured an undisclosed pre-seed round led by All In Capital and DeVC to expand its US healthcare EHR and payer integrations. • In legal developments, Hindustan Unilever (HUL) has moved to court against Beco, and Starlink has reapplied for necessary approval from IN-SPACe to operate.

• Asia Pacific leaders are calling for a comprehensive overhaul of scam defenses as AI-powered attacks increasingly exploit weak identity controls and governance. • New regulatory rules in Australia are placing heightened pressure on firms to detect fraudulent activity more rapidly to mitigate financial losses.

• KPIT Technologies and Vietnam-based Vietsol have signed a memorandum of understanding to collaborate on advanced mobility software and engineering services. • The partnership targets Southeast Asian markets, specifically Vietnam, Malaysia, Thailand, Indonesia, and the Philippines, to accelerate product development and engineering efficiency.

• Big Tech companies are shifting from self-funding to selling hundreds of billions of dollars in bonds to finance the massive infrastructure and data centers required for advanced AI. • Analysts suggest this "borrowing binge" is contributing to a rise in Treasury yields as investors anticipate that AI-driven economic growth will keep interest rates elevated.

• The author draws parallels between the current AI-fueled stock boom and the dot-com bubble of the late 1990s to warn of a potential market crash. • Key indicators include a period of insatiable demand and astonishing fundamental growth, similar to how millions of new users connected to the internet during the previous bubble.

• The EU has introduced an Action Plan on Cybersecurity and AI to establish a framework for integrating AI-powered approaches into IT security. • The plan emphasizes that organizations must first ensure their basic security foundations are robust before implementing these advanced AI tools.

• President Shavkat Mirziyoyev announced a five-part growth plan during an annual dialogue with entrepreneurs in Khiva, earmarking nearly €1bn to boost business and exports. • The initiative introduces lower energy prepayments, new credit guarantees, easier capital market access, and regulatory reforms that limit state inspections.

• OpenAI is launching advertisements across 31 European markets, including Germany, France, and Italy, starting August 24. • The rollout utilizes a two-tier GDPR privacy structure: contextual ads will run under "legitimate interest," while personalized targeting requires explicit user opt-in.