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Tech Across the Globe

AI megaproject: OpenAI is helping G42, an AI company backed by the United Arab Emirates’ sovereign wealth fund, build a massive data center under its “Stargate” brand in Abu Dhabi.

Chip constraints: China has asked the Dutch to relax export restrictions related to semiconductors. The Netherlands is home to ASML, which has never sold China the company’s machines for the most-advanced semiconductors because of export rules. 

Apple devices: The iPhone maker is targeting the end of 2026 to release its first smart glasses, pushing into AI gadgets and competing directly with Meta’s Ray-Bans. At the same time, Apple shelved plans to add a camera to its watches.

Revalued

Bill Ackman’s Pershing Square sees Amazon as having huge growth potential, building a stake in the e-commerce giant after its stock dropped 30% earlier this year. The firm sees Amazon as a “fantastic franchise” and noting that it bought shares at an “extremely attractive” price. Amazon’s shares have jumped 21% since they hit a low this year of $167.32 on April 21.

Must Read

Silicon Valley venture capitalists and startups are celebrating this week after several successful initial public offerings, suggesting the long delay in getting to the public markets may be ending, report Katie Roof and Kate Clark in today’s Tech In Depth. Public listings have been few and far between the past few years, but now it may be go time, they write. 

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This Week in Q&AI

Anthropic CEO Dario Amodei, like many business executives, is confronting the possibility that artificial intelligence may automate white collar workers out of their jobs. But it’s not a hypothetical problem for him, reports Shirin Ghaffary in this week’s Q&AI. Amodei’s company builds the AI models that may take over that work, and his computer programmers are among those whose jobs are threatened, she writes.

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