Commits

• The Monetary Authority of Singapore (MAS) has committed S$170 million over the next three years to launch the Financial Sector Technology and Innovation (FSTI) 4.0 initiative. • The program focuses on accelerating the adoption of frontier technologies, including AI, while developing critical infrastructure and nurturing industry talent to maintain global competitiveness. • This investment follows a strong growth period for the local sector, with fintech investments reaching S$2.9 billion last year across more than 1,800 firms employing nearly 10,000 people.

Regulator says verifiable safety measures are ‘critical’ to the online service’s viabilityGet our breaking news email, free app or daily news podcastRoblox has committed to making changes to its online gaming platform after Australia’s eSafety commissioner discovered adults were still able to see child accounts and send connection requests without parental consent.The company has provided a legal agreement to the online safety regulator after testing earlier this year also revealed children and adults could view and respond to one another’s posts on forums outside game environments without parental consent. Continue reading...

• Hedge fund Situational Awareness has committed a total of $500 million to Source Foundry, including a fresh $400 million injection this week. • Founded last year by Stanford researchers Abdulmalik Obaid and Joe Burg, Source Foundry develops specialized equipment to resolve bottlenecks in advanced semiconductor manufacturing. • The investment follows a recent funding round that valued the startup at $5 billion, highlighting the high demand for domestic chip production efficiency.

• The European Commission launched a call for tenders on July 30 to fund the construction of seven AI megafactories across Europe. • With a budget of €5 billion, these facilities will integrate supercomputers and data centers to provide the massive computing power needed to train next-generation AI models. • This initiative aims to reduce Europe's dependence on American technology and help the continent close the competitive gap with the US and China.

• Microsoft has established a new dedicated business unit focused on helping customers understand and implement artificial intelligence. • The company is committing $2.5 billion in funding and assigning 6,000 employees to staff the new initiative. • This move reflects the growing corporate demand for specialized guidance to integrate complex AI tools into existing business workflows.

• Microsoft announced the launch of Microsoft Frontier Company, a new operating entity backed by $2.5 billion in funding to help corporate clients deploy AI technologies. • The venture will collaborate with major enterprises, including Unilever and Novo Nordisk, to integrate a combination of Microsoft and third-party AI models. • This initiative is significant because it allows clients to retain full ownership of AI solutions developed using their internal data, rather than returning results to Microsoft.

• Amazon has announced an additional $13 billion investment in India's cloud and AI infrastructure, raising its total committed spending in the country to $48 billion. • The funding is slated for deployment through 2030, focusing on expanding the nation's digital capabilities and AI ecosystem. • This move underscores Amazon's strategic effort to compete in the rapidly growing Indian market and support the country's digital transformation.