Billion

• The UK government announced a £1.1 billion ($1.47 billion) strategic plan on June 8 to expand domestic AI computing capacity. • The initiative focuses on the construction of a new national supercomputer and provides critical funding to support homegrown semiconductor firms. • This investment aims to reduce reliance on foreign technology and strengthen Britain's competitive position in the global AI hardware race.

Call for ‘clear and truthful account’ comes amid questions about the Reform leader’s property spendingThe Labour party has written to Nigel Farage urging him to stop “evading reasonable scrutiny” over the £5m personal gift he received from the Thailand-based crypto billionaire Christopher Harborne.The letter coincides with approval of a planning application that reveals the Reform leader’s plans to transform a dilapidated Kent property into a luxury beachfront residence. Continue reading...

• Alphabet has increased its equity fundraising target to $84.75 billion, up from an initial plan of $80 billion announced earlier this week. • The capital will be used to expand data centers and computing capacity to support the development of advanced artificial intelligence systems. • This move reflects strong investor demand and highlights the intensifying race among major tech companies to build massive AI infrastructure.

• Portugal and Spain have submitted a joint proposal to the European Commission to develop a massive AI gigafactory infrastructure network. • The project involves a total investment of €12 billion (approximately $13.7 billion), with funding to be split equally between the two nations. • Portugal's portion of the network will be centered in Sines, with additional facilities planned for Lisbon and Abrantes.

While huge donations are nothing new in UK politics, some fear electoral finance is distorting democracy itselfKeir Starmer may be relaxed about allowing millions from cryptocurrency billionaires to flow into Reform UK’s coffers but Labour MPs are tearing their hair out every time the quarterly data on electoral finance drops.“I look at it through my fingers,” says one MP, as the latest figures show a further £7m went to Reform UK from just two men – Christopher Harborne and Ben Delo. Continue reading...

• Nscale, a crypto-mining spinout from Arkon Energy, has emerged as a leading provider of AI data center infrastructure in Europe. • The company has raised nearly $4 billion from major industry players, including Nvidia, Dell, and Nokia, recently closing a $2 billion Series C round. • This funding has propelled Nscale to a $14.6 billion valuation, marking one of the largest Series C rounds for any European company.

• NASA's $4 billion Nancy Grace Roman Space Telescope is transporting to Florida for a scheduled launch in September. • The telescope is designed to survey 100 times more of the sky than the Hubble Space Telescope, focusing on previously unexplored regions of the Milky Way. • Scientists expect the mission to identify approximately 100,000 new planets, a massive increase over the 6,300 exoplanets discovered to date.