Week In Tech

Hi, Hubert here,

this is the first issue of Weekly Tech summary updates in AI, fintech, and big tech across the globe. I bring you key developments, trends, and insights that shape the technology landscape—helping you stay informed and ahead of the curve in Africa and beyond.

Let's dive into the most impactful stories of the week but before Events you might be interested in!

The Africa’s Talking Summit kicks off on October 23rd at the Four Points by Sheraton in Kampala, Uganda. Join industry leaders, tech innovators, and forward-thinking professionals for insightful talks, interactive workshops, and exclusive networking opportunities. Be a part of Africa’s tech future—grab your ticket today!

The Africa Digital Finance Summit (ADFS) is taking place in South Africa from November 20th to 23rd, 2024. This event will bring together governments, central banks, and fintech leaders to explore the future of finance in Africa. Learn more and register here.

Now to the Tech Updates!

AI Developments

1. OpenAI Hires Microsoft’s Generative AI Research Lead
   • OpenAI has strengthened its team by hiring Microsoft's generative AI research lead, a significant move in the competitive AI landscape.
2. US Government Considers Chip Export Caps
   • The Biden administration is contemplating capping exports of chips from AMD and Nvidia to several countries, particularly in the Persian Gulf and Middle East.
3. Nvidia's Record Close
   • Nvidia shares closed at an all-time high, positioning the company to potentially surpass Apple as the world's most valuable firm, with a market value of $3.39 trillion.
4. Google to Source Power from Kairos
   • Google plans to purchase power for its AI operations from Kairos, a company specializing in small modular nuclear reactors.
5. Adobe Launches AI Video Tools
   • Adobe has begun rolling out new AI video tools, aiming to compete with offerings from OpenAI and Meta.

Fintech Insights

1. BlackRock CEO Predicts Bitcoin's Growth
   • Larry Fink, CEO of BlackRock, stated that Bitcoin could grow to rival the entire U.S. housing market, valued at over $50 trillion.
2. US Tech Firms Investing in UK Data Centers
   • American tech companies are set to invest $8.2 billion in data centers across the UK, signaling strong growth in digital infrastructure.

Additional Tech News

1. OpenAI's Security Leadership Change
   • Former Palantir CISO Dane Stuckey joins OpenAI to lead security initiatives amid ongoing transitions.
2. Google Shopping Revamped
   • Google Shopping has been revamped with AI integration and personalized suggestions for users.
3. Tesla Moves Bitcoin Holdings
   • Tesla has transferred $225 million of its Bitcoin to unknown wallets, raising questions about its cryptocurrency strategy.
4. Apple Introduces Verified Business Logos
   • Apple will allow verified businesses to display their logos in apps like Mail and Wallet, enhancing brand visibility.
5. Amazon's Return-to-Office Mandate
   • Amazon has indicated that employees who disagree with its return-to-office policy can resign, highlighting ongoing workplace tensions.

Conclusion

This week’s developments in AI and fintech underscore a rapidly evolving landscape driven by innovation and strategic moves among leading companies. As these industries grow, we will keep you updated on the latest trends and insights.

Stay tuned for next week's newsletter!

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