Cheaper

• Meta has released Muse Code, its first coding agent, which is positioned as a more affordable alternative to competitors like Claude Code. • In a head-to-head performance test across three real-world coding tasks, Muse Code underperformed, failing to properly restructure code and leaving behind "dead code." • Meta has openly admitted that Muse Code does not currently match the performance levels of Claude Code.

• 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. • President Xi Jinping announced on July 17 that China will provide 5,000 AI training opportunities and seminars to developing nations to foster regional cooperation.

• Chinese AI platforms, specifically DeepSeek and Moonshot AI, are rapidly narrowing the technological gap with U.S. competitors by developing cheaper and more efficient models. • This progress has triggered new threats from the Trump administration, which continues to accuse China of intellectual property theft to accelerate its AI development. • The situation risks escalating geopolitical tensions as the U.S. views China's AI advancements as a strategic threat to its technological dominance.

• US and European companies are increasingly replacing expensive AI models from OpenAI and Anthropic with more affordable Chinese alternatives to reduce soaring operational costs. • Beyond pricing, businesses are attracted to "open-weight" Chinese models, which allow organizations to customize parameters to fit specific needs and maintain greater control over sensitive data. • This shift highlights a growing trend where functional "workable" performance is being prioritized over the premium branding of American AI leaders.

• The Trump administration is considering a new framework for the release of advanced open-source AI models to maintain a competitive edge. • This move comes as Chinese rivals gain ground by offering low-cost AI systems and achieving hardware breakthroughs that reduce energy consumption. • The shift highlights a critical intersection of national security and economics, as global businesses increasingly adopt more affordable Chinese alternatives.

• Chinese startup Z.ai has launched GLM-5.2, an open-weight AI model designed to compete with frontier systems from OpenAI and Anthropic. • The model demonstrates strong performance in reasoning, coding, and agent-focused workloads, while offering significantly lower costs for developers. • This release follows the momentum of DeepSeek, signaling a growing trend of high-performance, affordable Chinese AI models challenging Western market dominance.

Some adults aged 65 and above will be able to get the drug for $50 through Medicare GLP-1, a temporary programKathryn, a retiree who worked in healthcare, has throughout her life experienced “cyclical weight-loss, weight-gain”.“Every time that that has happened, it’s been a little bit greater of the loss and the gain, which is really unhealthy,” said the 66-year-old who lives in Denver, Colorado, and requested that only her first name be used. At her heaviest, the 5ft 1in-woman weighed 220lbs. Continue reading...

• The United States has unveiled "Aires Tide," a nuclear test vehicle designed using artificial intelligence to accelerate development and reduce costs. • The AI-driven process allowed the vehicle to be built seven times faster and 15 times cheaper than traditional methods. • This development signals a strategic shift in the nuclear arms race, as the U.S. seeks to establish a durable technological advantage over China.

• A JP Morgan report reveals that while the US still dominates the AI landscape, China is rapidly closing the gap through the development of highly cost-efficient models. • Chinese firms such as DeepSeek, MiniMax, Xiaomi, and Alibaba are leading the "efficient frontier," attracting enterprises seeking to lower operating costs as US token pricing rises. • Data from OpenRouter indicates a surge in API calls to Chinese models, reflecting growing global market acceptance of these alternatives.

• A JP Morgan and ETEnterpriseai report indicates that while the US remains the global leader in AI, China is rapidly closing the gap by offering significantly cheaper operational costs for corporate environments. • US-developed frontier AI models continue to hold a technological edge, remaining essential for high-level tasks including cybersecurity, scientific discovery, and large-scale reasoning. • This competition highlights a strategic divide where China competes on affordability and accessibility, while the US maintains dominance in advanced, agentic systems.

• GIFT Nifty rose on Wednesday morning, signaling a positive opening for the Indian benchmark indices, the Sensex and Nifty. • The upward trend persists despite a global sell-off in technology stocks and market concerns regarding a potentially hawkish stance from the US Federal Reserve. • Lower crude oil prices are acting as a key support factor, helping to offset the negative influence of Wall Street's volatility.

• J.P. Morgan reports that while the United States maintains its global leadership in the AI ecosystem, China is rapidly closing the gap. • China is gaining ground by developing cost-efficient AI models that are increasingly attractive for enterprise adoption. • Despite this competition, U.S. frontier models remain essential for high-level tasks including cybersecurity, scientific discovery, and large-scale reasoning.

• JP Morgan reports that while the United States remains the global leader in AI development, China is rapidly closing the gap by producing more cost-efficient models. • Chinese firms are gaining traction in corporate environments by offering AI systems with significantly lower operational costs than American competitors. • Despite this, US-developed frontier models remain essential for high-level applications, including cybersecurity, scientific discovery, and large-scale reasoning tasks.

As the cost of the scheme blows out, the government has announced the full discount will be retained for another year, after which it will only apply to EVs costing less than $75,000Get our breaking news email, free app or daily news podcastLabor has opted to retain its electric vehicle discount in full for another year, as Australians rush to buy EVs amid soaring fuel costs linked to the Iran war.But the budget next Tuesday will include a number of “sensible changes” that wind back the scale of support over the next three years, as the government acknowledges the need to deliver a “more financially sustainable” tax incentive for EVs amid ballooning costs of the scheme. Continue reading...

Chris Bowen says Australians should ‘not get ahead of ourselves’ by expecting prices to fallFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastTrack current petrol and diesel prices across AustraliaPetrol prices are rising again and diesel wholesale prices have hit new record highs as the government warns the US ceasefire with Iran will not make fuel cheaper.The average unleaded prices at service stations rose in some cities on Wednesday for the first time since late March, as fuel tankers hiked their charges. Continue reading...

Flow-on effect will depend on how quickly service stations sell more expensive fuel, experts warn, leaving Easter travel plans up in the airGet our breaking news email, free app or daily news podcastAustralians expecting relief from punishing fuel prices in time for Easter travel are set to be disappointed, with the industry predicting the effects of Labor temporarily halving the excise will take days or weeks to reach some bowsers around the country.The halving of the fuel excise, which begins on Wednesday and lasts until the end of June, means the federal government will now collect 26.3c from every litre over the next three months instead of 52.6c a litre. Continue reading...

Australian manufacturers can call their wares parmesan and kransky, but terms like feta, romano and gruyere will be eventually phased outFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastEuropean food, wine, cars and fashion goods will become cheaper for Australian buyers under a long-awaited trade deal, but farmers are furious about meagre quotas for meat exports.After almost a decade of negotiations, Australia and the European Union have struck an agreement that will lead to both sides slashing tariffs and expanding trade across a range of areas. Continue reading...