Business Insider

• A recent CIO survey conducted by RBC reveals a significant surge in enterprise spending on artificial intelligence, with OpenAI emerging as a primary leader in the space. • The findings contradict fears of a "SaaSpocalypse" or a "token panic," suggesting that businesses are integrating AI tools more stably than critics predicted. • This trend is critical as it indicates sustained corporate investment in generative AI and large language models despite broader economic uncertainties.

• South Korea's Kospi and other major Asian indices slumped, with Taiwan's Taiex closing 3.6% lower and Hong Kong's Hang Seng Index losing over 2%. • The downturn was driven by a SoftBank rout and investor concerns regarding memory chip demand following price hikes by Apple. • Specific losses included chip giant TSMC, which closed over 2% lower, and Alibaba, which tanked 6% after accusations from Anthropic regarding the exploitation of AI models.

• Two former Constitutional Court research officers have joined major law firms, sparking concerns over a "Jaepanso-won insider market" where former officials leverage specialized knowledge for private gain. • In a separate domestic issue, the National Election Commission reported that 67 polling stations experienced ballot shortages, with 15 of those incidents concentrated in the Songpa District. • On the international front, Chinese President Xi Jinping is traveling to Pyongyang for the first time in seven years to reassert China's influence amid strengthening ties between North Korea and Russia.

• European AI startups such as Legora and Lovable are rapidly scaling to challenge the long-standing technological dominance of US-based firms. • Swedish legal AI startup Legora has secured 20% of the 100 highest-grossing US law firms as clients and recently achieved a significant revenue milestone. • Lovable, a Swedish "vibe-coding" company valued at $6.6 billion, reported a 33% increase in monthly recurring revenue and is now actively seeking acquisitions.

• European AI startups, including Legora and Lovable, are rapidly scaling to challenge the long-standing technological dominance of the United States. • The surge is fueled by significant advancements in artificial intelligence and increased access to venture capital funding across the continent. • A notable example of this growth is Wayve, led by Alex Kendell, which recently secured one of the largest funding rounds in UK history.

• A viral feud between two AI startup founders over $31 million in funding has highlighted the volatile nature of Silicon Valley's current "attention economy." • Both companies are targeting users in developing markets, reflecting a trend where massive capital is being deployed into nascent sectors and very young founders. • The conflict underscores a shift in venture capital trends; a recent Crunchbase analysis shows that in 2025, over half of seed rounds exceeded $10 million.