Huawei Fills Nvidia Gap with New AI Chip for Testing
US-sanctioned Huawei has begun testing its Ascend 910C AI chip with large Chinese server firms as it seeks to replace Nvidia’s high-end processors. The 910C, an upgrade to the Ascend 910B, is being sampled to major Chinese internet companies that also rely on Nvidia. Huawei’s chip is becoming a key alternative after the US banned Nvidia’s advanced GPUs from being shipped to China. Huawei’s Ascend chips are already powering half of China’s top AI models.
China Unveils Largest Stimulus Since Pandemic Amid Deflation Fears
China’s central bank launched its largest post-pandemic stimulus, injecting 1 trillion yuan ($142 billion) through a 50-basis-point cut in banks’ reserve requirement ratios. Additional cuts to borrowing costs, including a 0.2 percentage point reduction to the seven-day reverse repo rate, aim to tackle deflation and revive economic growth. Measures to support the struggling property sector include a 50-bps interest rate cut on mortgages and lower down payment requirements. Despite these efforts, analysts warn weak credit demand and limited fiscal policies may hinder a full recovery.
China's Gaming Surge Continues with Over 100 Titles Approved in September
China’s video game regulator approved 109 new titles this month, maintaining a strong average of 107 game approvals per month in 2024. This pace follows efforts to revive the industry after a crackdown in 2021. Among the approved titles is “Shou,” a mysterious game from Tencent, China’s largest gaming company. Interest in the country’s gaming industry has surged since the release of the blockbuster game Black Myth: Wukong. August saw the highest number of approvals this year at 117.
James Cameron Joins Stability AI’s Board, Aiming to Revolutionize Visual Media
Stability AI has appointed famed director James Cameron to its board, marking a major step towards its goal of transforming visual media with generative AI tools. Cameron believes AI and computer-generated imagery (CGI) will unlock new storytelling possibilities. CEO Prem Akkaraju emphasized the company’s commitment to providing creators with a full suite of AI tools. As Hollywood grapples with the use of AI, Cameron’s involvement highlights the growing interest in its potential, despite industry tensions over AI’s impact on actors and writers.
Thailand Launches $14 Billion Digital Wallet Stimulus Scheme
Thailand’s government has launched the first phase of a $14 billion stimulus handout, distributing 10,000 baht to 14.5 million welfare card holders and disabled individuals. The flagship “digital wallet” scheme, initially designed for smartphone app distribution, aims to boost local spending over six months. Prime Minister Paetongtarn Shinawatra stated the initiative would drive economic activity and hinted at future stimulus measures. However, economists have criticized the scheme as fiscally irresponsible, while the government struggles to find funding.
OpenAI Faces Leadership Shakeup as CTO Mira Murati and Others Depart
OpenAI is experiencing a major leadership shift, with CTO Mira Murati, Chief Research Officer Bob McGrew, and VP of Research Barret Zoph all announcing their exits. Murati, a key figure in developing ChatGPT and DALL-E, will assist in the transition as OpenAI navigates this critical period. CEO Sam Altman emphasized the departures were independent but timed for a smooth leadership handover. The changes come as OpenAI explores new growth strategies, including potential restructuring, amid an ongoing AI arms race.
World's First 3D-Printed Hotel Rising in Texas Desert
El Cosmico, a hotel and campground in Marfa, Texas, is expanding using cutting-edge 3D printing technology. In collaboration with ICON, a Texas-based 3D printing firm, and architects Bjarke Ingels Group, the project will add 43 new hotel units and 18 homes across 60 acres. The large-scale 3D printer, Vulcan, constructs curvy, dome-like structures using Lavacrete, a special cement mix. Set for completion in 2026, the world’s first 3D-printed hotel offers rooms priced between $200 and $450 per night.
