Tech employees call for US-backed global effort to manage risks of advanced AI - The Economic Times

• InvestiFi has raised $20 million in funding to scale its embedded investing services specifically for community banks and credit unions. • In a separate funding event, Encore AI secured $30 million in Series A funding for its agentic customer interaction platform designed to increase revenue.

• Offensive-security researchers are introducing a model-agnostic method for activation analysis at Black Hat USA 2026. • The new approach shifts AI security focus from analyzing only inputs and outputs to examining the internal activations of large language models (LLMs).

• ThreatLocker has secured $190 million in a Series F funding round led by Elephant, while Act Security emerged from stealth with $60 million to build an action-centric cloud security platform. • In a major industry consolidation, Cyera has acquired Oasis Security in a deal valued at $1 billion.

• AI-enabled cyber breaches have increased by 56%, with organizations facing an average cost of $6 million per incident according to IBM. • The surge is primarily driven by the rise of AI-powered malware and sophisticated deepfake impersonation tactics used to bypass security.

• AI-related chip stocks, led by industry giants Nvidia, SK Hynix, and Samsung Electronics, have seen a massive selloff resulting in a loss of over $1 trillion in market value. • The decline is attributed to investors correcting "froth" in the AI market amid growing concerns over AI financing and increasing competition from China.

• Michelle Steel arrived in Seoul on July 30, 2026, to officially begin her tenure as the new U.S. ambassador to South Korea. • The appointment marks a key diplomatic transition in the bilateral relationship between the United States and South Korea.

• A Shanghai-based firm has commenced the mass production of Deep Ultraviolet (DUV) lithography machines for major Chinese chipmakers including SMIC, Hua Hong, and CXMT. • This development marks a significant step in China's effort to reduce its reliance on foreign semiconductor equipment amidst ongoing trade restrictions.

• The U.S. and China are competing for AI dominance in Asia, with China leveraging cheaper, open-source models to gain a foothold over closed U.S. systems. • At a recent event, Tencent VP Cai Guangzhong highlighted the adoption of the Hunyuan LLM and cloud projects in Thailand, contrasting with Google's more reserved presentation of Gemini.

• South Korean stocks plummeted on Wednesday, with the benchmark KOSPI index closing at 5,663.24 after a sharp 5.98% drop of 360.42 points. • The sell-off was triggered by growing investor uncertainty regarding whether massive corporate spending on artificial intelligence will generate sufficient financial returns.

• Healthfab is establishing a vertically integrated manufacturing plant to produce over 4 lakh period care panties monthly, including reusable and disposable options. • The new facility will integrate production units, quality testing, warehousing, and R&D to streamline the company's product pipeline.

• On July 29, 2026, 1,100 AI workers from major firms including OpenAI, Google, Meta, and Anthropic signed a letter urging the U.S. government to slow the pace of AI development. • OpenAI revealed a security breach involving four stolen accounts, highlighting critical vulnerabilities in current AI infrastructure.