Monday, June 29, 2026

AI & Chip Investment Race

South Korea unveiled an ambitious $1 trillion investment plan for AI and semiconductor mega-projects, aiming to secure the country's dominance in the rapidly expanding AI boom. Al Jazeera CNBC

Shares in chipmakers underpinning the AI boom have rocketed in the first half of 2026, with some manufacturers seeing their value triple, driving Asia Pacific stock markets sharply higher. The Guardian

Baidu's AI chip unit, Kunlunxin, is reportedly targeting a $50 billion initial public offering in Hong Kong, causing Baidu's shares to jump over 6%. CNBC The Information

China's Zhipu AI (Z.ai) released its open-weight GLM-5.2 model, with some researchers claiming it matches Anthropic's Mythos in cybersecurity scenarios, significantly narrowing the gap in AI capabilities between the US and China. The Verge

AI startup Firmus will build an Indonesia data center in partnership with Nvidia, as Nvidia's soft spot for Firmus stirs a new $20 billion-plus spendathon. Bloomberg.com

Geopolitics & US Policy

President Trump's ambitious program to start up new nuclear reactors is reaching completion, though some observers express concern about potential safety shortcuts. NPR

Oil prices edged higher after an American official indicated the U.S. and Iran had agreed to halt attacks in a key shipping lane, raising hopes for de-escalation in the Persian Gulf. The New York Times CNBC

Former President Joe Biden criticized his successor, stating that Donald Trump has "diminished America’s standing in the world more than any president in history" during a Maryland Democratic party gala. The Guardian

A new poll reveals a tight race in Maine's Senate contest, with Democrat Platner holding a slight edge over Republican Collins, a key battleground for Senate control. The New York Times

Tech & Business Trends

BT and Verizon are forming a 50/50 joint venture to combine their international businesses, with Verizon paying a $625 million "equalization" fee to ensure equal voting rights. The Guardian

The AI boom is colliding with severe weather, raising risks for AI data centers from grid strain to higher insurance and repair costs. CNBC

Lenovo warns that high memory prices are likely the "new normal" and may "never" return to previous levels, as the AI era drives up costs for components. VGChartz

Ford has reportedly rehired quality inspectors after its reliance on AI for quality control proved insufficient, highlighting the limitations of current AI applications in manufacturing. The Independent

Representative Alexandria Ocasio-Cortez called for breaking up large technology companies, arguing they seek "totally unchecked power" and act like governments. The Hill

Global Markets & AI Impact

The dollar is poised for its best month in nearly a year, reaching a 13-month high as foreign investors continue to boost US stock holdings to a record $23.2 trillion, overlooking concerns about Trump's policies. Reuters MarketWatch

Sovereign investors, managing $29 trillion, are pivoting towards energy assets and expressing concerns about the dollar, while also moving from public to private markets to capitalize on the AI wave. Reuters

Wall Street analysts are increasingly viewing Micron Technology as the "next Nvidia," eager to find more public AI-related companies that could replicate Nvidia's success. TechCrunch

Luxury home sellers are adopting a new marketing tactic in a sluggish market by advertising that they will accept startup stock as payment. Business Insider

Quick Shots

• 🤖 Erin Brockovich is now targeting AI data centers, calling their environmental impact "Hinkley on steroids" after receiving thousands of complaints. The Guardian
• 🤖 Suno launched its Spark incubator program, offering grants and mentorship to independent artists, but requires them to make their songs available for AI remixing. The Verge
• 🤖 Sword Health secured a contract to provide AI-supported physical therapy for the entire country of Portugal, marking a major step for digital health. STAT+
• 🤖 A new humanoid robot from Flexion Robotics, founded by ex-Nvidia engineers, is demonstrating "terrifyingly competent" office intern capabilities. Wired
• 🇦🇺 A study found that Australia's world-first social media ban for children has had little effect on youth access, despite the government's plans to double potential fines for platforms. NPR NPR