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• Funding for Chinese AI start-ups tripled to US$16 billion in the first quarter, driven by heavy investor interest in Large Language Models (LLMs) and robotics. • This surge follows long-term state-led initiatives to prioritize capital flow into strategic sectors, including advanced computing infrastructure, chips, and manufacturing. • Foreign-currency investments saw a sharp rebound, with the number of deals more than doubling to 210 and the total disclosed value skyrocketing over 495% to 67.3 billion yuan.

Several MPs tell Guardian Australia they are keen to see tweaks, and some are engaging directly with treasurer’s officeGet our breaking news email, free app or daily news podcastLabor MPs expect the government will agree to capital gains tax concessions for startup businesses after a meme-fuelled backlash to the budget, with some wary that scare campaigns could “get out of hand” without clearer explanation of the changes from Anthony Albanese and Jim Chalmers.Guardian Australia spoke to a number of Labor MPs nationwide. Speaking on condition of anonymity, several MPs said they were keen to see change on CGT, with some engaging directly with Chalmers’ office. Continue reading...

• The 70th edition of the Eurovision Song Contest is taking place in Vienna, Austria, culminating in the live Grand Final today. • The event is scheduled to begin at 9:00 PM on Saturday for viewers in key participating nations, including Austria, Germany, France, Italy, Spain, and Sweden. • As a global musical phenomenon, the contest serves as a major cultural platform for European artists to compete for the prestigious title.

• French industrial and technology groups have submitted bids to host a planned €10 billion EU-backed AI gigafactory. • The French proposals involve strategic partnerships between data-center operators, cloud providers, equipment suppliers, and industrial companies. • This initiative is part of a broader European effort to secure technological sovereignty, though France faces stiff competition from Germany, Italy, Spain, and the Nordic countries.

• OpenAI is tentatively targeting an initial public offering (IPO) for the autumn, according to reports from The Wall Street Journal. • The potential stock market listing aims to secure significant funding to accelerate the company's future artificial intelligence development. • This move represents a pivotal moment for both OpenAI and the broader AI industry as it transitions toward a public corporate structure.

• 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.

Starmer has a reasonable list of achievements in power but has undermined himself with a lack of political storytellingNet migration down by three-quarters, the biggest fall in NHS waiting lists for 17 years, knife crime cut by 10%, the economy growing the fastest in the G7, rising wages, energy bills and petrol prices held down, the biggest sustained rise in defence spending since the cold war, a massive expansion of free childcare …If Keir Starmer did tub-thumping lists of Labour’s achievements in the style of Gordon Brown, he would not actually have a shortage of things to talk about. Continue reading...