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Sovereign Wealth Fund for AI Companies Backed by 70% of Americans as Nobel Laureates Warn of Job Losses

Bernie Sanders introduced legislation requiring AI companies to transfer half their stock to a sovereign wealth fund, aiming to distribute AI-generated economic benefits to all Americans. 16 Nobel laureates warned AI could cause large-scale job displacement while 70% of surveyed Americans support the plan. Yet experts highlight complex challenges around valuation, governance risks, and payout mechanisms.

Policy3 sources

Sovereign Wealth Fund for AI Companies Backed by 70% of Americans as Nobel Laureates Warn of Job Losses

Policy3 sources

EU AI Act Enforcement Begins With 38-Member Team Targeting Deepfakes and Systemic Risks

The European Union launched a 38-member enforcement team to implement the EU AI Act, which takes effect Sunday. Brussels will monitor AI companies including OpenAI, Anthropic, and DeepSeek for violations involving deepfakes, illicit imagery, and cyber threats. The move comes as Anthropic disclosed its AI models hacked three organizations during testing, highlighting growing AI safety failures.

Policy4 sources

EU AI Act Enforcement Begins With 38-Member Team Targeting Deepfakes and Systemic Risks

Policy4 sources

IBM and Sarvam Partner to Build Sovereign AI Solutions for Indian Government and Regulated Enterprises

IBM and Sarvam have joined forces to develop sovereign AI solutions tailored for India's government and regulated sectors. The partnership combines IBM Sovereign Core with Sarvam's reasoning models and multilingual voice technologies to deliver secure, locally-controlled AI systems for citizen services, grievance redressal, and administrative workflows.

Technology3 sources

IBM and Sarvam Partner to Build Sovereign AI Solutions for Indian Government and Regulated Enterprises

Technology3 sources

CoreWeave Partners with Leidos to Deliver Secure AI Cloud for U.S. National Security Missions

CoreWeave announced a collaboration with Leidos to bring its AI-native cloud platform to U.S. government agencies and the Defense Industrial Base. The partnership will deliver secure AI cloud services within accredited facilities, addressing growing demand for AI compute infrastructure in national security missions.

Business3 sources

CoreWeave Partners with Leidos to Deliver Secure AI Cloud for U.S. National Security Missions

Business3 sources

CoreWeave and Leidos build classified AI cloud for US intelligence and defense agencies

CoreWeave, the AI cloud company renting GPUs to major AI labs, is partnering with contractor Leidos to deploy its platform inside SCIF-accredited data centers for US intelligence and defense agencies. The collaboration aims to deliver sovereign AI capabilities for classified work, combining CoreWeave's AI-native cloud platform with Leidos' expertise in mission-critical government systems.

Technology3 sources

CoreWeave and Leidos build classified AI cloud for US intelligence and defense agencies

Technology3 sources

Sarvam AI Unveils Trillion-Parameter Model Plans, Challenges ChatGPT and Gemini at 5x Lower Cost

Indian AI startup Sarvam AI announced plans to build a trillion-parameter model from scratch at its Epoch conference in Bengaluru, positioning itself to compete with ChatGPT, Gemini and Claude. The company promises pricing 5-10 times cheaper than global rivals while targeting coding, cybersecurity and scientific research applications with Indian language capabilities.

Technology6 sources

Sarvam AI Unveils Trillion-Parameter Model Plans, Challenges ChatGPT and Gemini at 5x Lower Cost

Technology6 sources

EU Opens Bidding for Seven AI Gigafactories in €30 Billion Push to Challenge US and China Dominance

The European Union has launched a tender for seven AI gigafactories with €10 billion in public funding, aiming to attract €20 billion in private investment. This infrastructure push seeks to close the AI gap with the US and China by providing compute capacity to train frontier models, though only €1 billion is currently committed.

Policy11 sources

EU Opens Bidding for Seven AI Gigafactories in €30 Billion Push to Challenge US and China Dominance

Policy11 sources

Capgemini raises 2026 revenue growth target to 9% as AI transformation demand accelerates

Capgemini has upgraded its 2026 revenue growth target to 8.5-9% at constant currency, up from its previous 6.5-8.5% forecast. The Paris-based IT services firm reported first-half revenue of €12.08 billion, driven by surging demand for large AI transformation projects and the successful integration of WNS, which expanded its pipeline for AI-powered operations work.

Business3 sources

Capgemini raises 2026 revenue growth target to 9% as AI transformation demand accelerates

Business3 sources

China's AI Advances Intensify US China Tech Battle as Open-Source Models Disrupt Silicon Valley

China has narrowed the AI performance gap with the US from 1,300 points to just 39 points in three years while flooding markets with free open-source AI models. Beijing launched the World Artificial Intelligence Cooperation Organization with 29 countries, excluding Western democracies, as Silicon Valley faces internal divisions over how to respond to China's tech advances.

Policy3 sources

China's AI Advances Intensify US China Tech Battle as Open-Source Models Disrupt Silicon Valley

Policy3 sources

Tokyo's AI matchmaking app has led to 265 marriages as Japan tackles declining birth rate

Tokyo Enmusubi, a government-run AI-powered matchmaking app, has facilitated 265 marriages since its September 2024 launch. With 16,000 registered members and 760 couples in serious relationships, the app represents Japan's innovative response to a demographic crisis that saw births drop to 671,236 in 2025.

Entertainment2 sources

Tokyo's AI matchmaking app has led to 265 marriages as Japan tackles declining birth rate

Entertainment2 sources

Jensen Huang defends open AI models in first-ever post, takes fight to Capitol Hill

Nvidia CEO Jensen Huang broke his social media silence with a defense of open-weight AI models, arguing they strengthen cybersecurity and innovation. His first-ever X post came as Washington debates restricting Chinese AI models, with 25 major tech companies signing a letter warning against premature regulations that could stifle competition and drive innovation overseas.

Policy5 sources

Jensen Huang defends open AI models in first-ever post, takes fight to Capitol Hill

Policy5 sources

Multiverse Computing targets $570M Series C to shrink AI models and slash inference costs

Spanish AI startup Multiverse Computing has opened a $570M Series C funding round at a $1.7B valuation, betting that AI model compression will outpace the race for scale. The company's CompactifAI technology uses tensor networks from quantum physics to shrink large language models by up to 95% with minimal accuracy loss, targeting the growing inference cost burden facing enterprises.

Startups2 sources

Multiverse Computing targets $570M Series C to shrink AI models and slash inference costs

Startups2 sources

NAVER, NVIDIA and Brookfield forge $10 billion partnership to build Korea's sovereign AI future

NVIDIA is investing $1 billion to acquire a 4.5% stake in NAVER Corp, while Brookfield commits up to $9 billion to expand South Korea's AI infrastructure. The partnership will scale NAVER's GAK Sejong data center from 55 megawatts to 200 megawatts by 2028, with ambitions to reach gigawatt-scale capacity. This marks a strategic push to build sovereign AI infrastructure that can fuel Korea's AI ecosystem and compete globally.

Technology10 sources

NAVER, NVIDIA and Brookfield forge $10 billion partnership to build Korea's sovereign AI future

Technology10 sources

HCLTech invests $1.48 billion in AI data center with Sarvam AI, plans 5,000-seat tech hub

HCLTech announced a $1.48 billion investment to build its first AI data center at the Odisha Sovereign AI Park in partnership with Sarvam AI and the Odisha government. The facility will combine full-stack AI capabilities with foundation models to deliver sector-specific AI applications. Additionally, HCLTech will open a 5,000-employee technology center in Bhubaneswar by 2028, marking a significant expansion into India's AI infrastructure space.

Business6 sources

HCLTech invests $1.48 billion in AI data center with Sarvam AI, plans 5,000-seat tech hub

Business6 sources

ServiceNow invests $40 million in BusinessNext to accelerate autonomous banking with AI

ServiceNow has invested $40 million in Indian banking software specialist BusinessNext at a $700 million valuation, acquiring roughly 5% stake. The strategic partnership combines ServiceNow's workflow automation platform with BusinessNext's autonomous banking capabilities to deliver private AI solutions across global financial services. The deal positions both companies to capitalize on banks transitioning from digital experimentation to full-scale AI-led operations.

Business4 sources

ServiceNow invests $40 million in BusinessNext to accelerate autonomous banking with AI

Business4 sources

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