IT provider Tata Consultancy Services’ (TCS) subsidiary HyperVault is planning a 1GW AI data centre campus in the south Indian city of Hyderabad, with up to INR700 billion ($7.4 billion) earmarked for the project.

HyperVault, an AI data centre and infrastructure business, secured 264 acres for the development, which will be built in phases based on customer demand and technology requirements. Once fully built, the campus is expected to rank among India’s largest AI infrastructure facilities.

The site will target AI companies and hyperscalers, supporting high-density GPU deployments for AI training and inference. It will use liquid cooling and is designed to accommodate larger power requirements for advanced AI workloads. The company also plans to use green energy and water-neutral design principles.

HyperVault CEO and managing director Deepesh Nanda said the company is “building infrastructure for where AI is going: higher density, liquid cooling, larger power blocks and faster deployment”.

Meanwhile, TCS CEO K. Krithivasan noted: “Hyderabad offers the scale, talent and ecosystem to serve global customers,” adding the project combines “AI-ready infrastructure with our cloud, engineering, enterprise transformation and AI capabilities”.

The move forms part of TCS’ broader push into AI infrastructure. Last month, the IT services player struck a five-year partnership with Porsche worth €1.25 billion and agreed to acquire the company’s automotive and consulting unit MHP for €320 million.

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NEC lined up real-world trials of a technology mix it reckons could shake up the vehicle parking sector, advancing a self-professed mission to digitalise the sector.

The company is integrating a parking management system from UrbanChain with its own AI image recognition technology to assess the effectiveness in detecting when people leave their vehicle.

NEC explained this is an important safety step, reasoning the set-up could be used to provide alerts if people park and then fail to exit the vehicle in a timely manner, which it stated could indicate they have suffered a medical episode.

The company explained there is growing concern about such matters.

Trials of the combined system are scheduled to begin in car parks in the Fukuoka Prefecture of Japan next month to assess how effective the AI is at recognising the number of vehicle occupants and if they have left or not.

NEC stated the companies hope to devise a “next-generation” car parking service model which could improve “safety, security and convenience”.

The companies hope to work out how many cameras are required and the best installation points along with the overall impact on safety and security.

They are also exploring a payment model based on the time a vehicle enters a parking space instead of charging from the moment it enters the grounds.

Ultimately, the work could establish a means of analysing car park usage trends and control mechanical lifts used in multi-storey architectures.

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SK Hynix outlined plans to invest KRW54 trillion ($38.3 billion) in two new semiconductor manufacturing plants in South Korea, stepping up production capacity to meet long-term demand for AI memory.

The South Korean chipmaker will invest KRW35.2 trillion in its Yongin Y2 fabrication plant in the Seoul Metropolitan Area, which will produce high-bandwidth memory (HBM) and other next-generation dynamic random access memory (DRAM) products. Meanwhile, KRW19.1 trillion is earmarked for a second facility, Cheongju M17, in central South Korea to manufacture NAND flash memory chips, with the company arguing the city “offers the fastest fab construction timeline”.

The latest investment forms part of a wider manufacturing push. In June, SK Hynix unveiled plans to invest KRW600 trillion in the Yongin Semiconductor Cluster and KRW100 trillion to expand its Cheongju production base.

Yongin Y2 will become the second of four planned fabs in the Yongin Semiconductor Cluster. Construction of the plant is due to begin in July 2027, while work on the Cheongju M17 fab is scheduled to start in February 2027. The company aims to complete all four planned fabrication plants by 2033, bringing forward the original timeline by 12 years.

The latest commitment comes amid strong demand for AI memory requiring large volumes of HBM. SK Hynix explained demand for NAND memory is “surging rapidly”, adding its investment followed “a thorough review of market demand”. Citing forecasts by Omdia, it noted global DRAM and NAND demand is expected to grow at a compound annual rate of 19% through 2030.

The company noted “in the AI era, technological competitiveness alone is not enough”, arguing the “ability to supply the required volume at the exact moment customers need it is the ultimate competitive advantage”.

In June, South Korean President Lee Jae-myung unveiled a long-term AI and semiconductor initiative led by Samsung Electronics and SK Hynix expected to exceed $1 trillion by 2035.

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ByteDance is reportedly in the process of developing an AI model which could rival Anthropic’s Mythos system as part of a bid to establish itself as a leader in China’s AI ecosystem.

Financial Times (FT) reported the TikTok owner is in the early stages of training a model with as many as 10 trillion parameters.

This would put ByteDance’s offering ahead of Anthropic’s cutting-edge Mythos and make it three-times larger than Moonshot Kimi K3, the biggest model to come out of China so far.

While Anthropic does not reveal the size of its models, FT reported the most advanced Mythos 5 system has 8 trillion parameters and its Fable 5 about 5 trillion.

ByteDance’s model is apparently being pre-trained, a stage in development which typically takes three-to-six-months. It would then be fine-tuned and released, provided there are no issues.

Chinese companies are showing their hand with regards to AI model development, with Moonshot and Alibaba highlighting releases in recent weeks.

FT added ByteDance invested more aggressively in AI than other Chinese companies, building data centres and attracting talent in the sector.

Founder Zhang Yiming reportedly told staff he wants the team to target “world-leading model capabilities” during an internal meeting last month.

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Indosat Ooredoo Hutchison brought in the big guns of its parent, Nokia and Nvidia to help it develop fresh infrastructure to meet the demand for AI computing in Southeast Asia and beyond, with an initial 1GW target.

The Indonesian operator’s Zankore by Indosat play is to employ Nvidia’s DSX AI Factory reference design as part of an ambitious plan to establish the nation as a regional compute hub.

It aims to provide the first 200MW of capacity in H1 2027, running an Nvidia GB300 NVL72 rack. Information from the chip company indicates the set up uses 72 of its Blackwell Ultra GPUs and 36 Arm-architected CPUs to provide additional reasoning capabilities.

Zankore by Indosat is also employing the Nvidia DSX MaxLPS technology suite, which the chip player separately explained provides ways to “maximise token performance per MW within a fixed power budget”.

Put more plainly, the suite is designed to offer the lowest-possible token cost by optimising power use across the line of GPUs to unlock fuelling which might otherwise be stuck in less useful areas.

The operator’s parent Ooredoo Group is the lead investor and platform sponsor, an arrangement noted to bring access to long-term capital and regional scale.

Nokia is providing AI-native network infrastructure.

Zankore by Indosat appointed ex-Ericsson and T-Mobile US executive Ulf Ewaldsson as CEO, along with establishing a board comprising representatives from principal shareholders and independent members.

Meutya Hafid, the Indonesian Minister of Communication and Digital Affairs, said the nation is advantageously placed to provide AI compute capacity throughout Southeast Asia and the Zankore by Indosat move would speed development of sovereign capabilities to the benefit of “businesses and society”.

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Profit jump fuelled largely by unknown US refund amount as Japanese video game firm records quarterly sales drop

Nintendo has reported a jump in profits, as the Japanese game maker’s earnings were buoyed up by a long-awaited refund on Donald Trump’s tariffs.

The company said profits surged 53.5% to ¥147.4bn (£694m) over the three months to June, substantially beating expert forecasts for ¥77.8bn.

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© Photograph: Richard A Brooks/AFP/Getty Images

© Photograph: Richard A Brooks/AFP/Getty Images

© Photograph: Richard A Brooks/AFP/Getty Images

New AI models, advanced robots and specialty computer chips are unsettling markets and the US tech industry

Over the past month, a series of advancements in China’s artificial intelligence, chip manufacturing and robotics technologies have rattled financial markets, caused divisions among US tech moguls and left the Trump administration scrambling to respond.

Silicon Valley has long pointed to China’s tech industry as a competitive threat and used its growth as rationale for why US firms should not face regulatory oversight that could slow them down. In recent weeks, however, China’s progress has pushed US tech CEOs past vague warnings and into open disagreement over how to address Chinese-made products upending their industry.

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© Photograph: Héctor Retamal/AFP/Getty Images

© Photograph: Héctor Retamal/AFP/Getty Images

© Photograph: Héctor Retamal/AFP/Getty Images

Live, rolling coverage as London’s biggest companies defy Middle East disruption and UK petrol prices rise to around £1.60 per litre, the highest since Donald Trump ordered renewed strikes

The story piquing the interest of the financial press this morning is that of Leopold Aschenbrenner, the AI Wunderkind (he’s German-born) who has been forced to sell off his fund in a fire sale after the AI boom ran out of steam.

The 24-year-old had persuaded a lot of people to give him a lot of money for a hedge fund, after previously working for OpenAI and the FTX Future Fund, a charitable arm of the fraudulent crypto empire of Sam Bankman-Fried, who is now in prison. Aschenbrenner ploughed that money into debt-fuelled bets on artificial intelligence companies, earning huge returns until he found out that stocks can also fall.

The trader dubbed the “Nostradamus of AI” would have been hard-pressed to foresee how quickly his high-flying hedge fund would run into trouble.

The firm’s rapid downward spiral is a familiar tale, as Silicon Valley and Wall Street once again threw their weight behind a bright-eyed but untested investor who promised this time would be different. “Everybody always wants to find the next golden child,” said one longtime hedge fund executive. “It just keeps happening.”

In less than 24 hours — which included a conversation between Griffin and Aschenbrenner — Griffin’s Citadel hedge fund reached out to Situational Awareness and snapped up the investments at a discount, according to a person familiar with the matter who asked not to be identified citing private information.

It was a startling reversal for Aschenbrenner, a former researcher at OpenAI who – before starting his hedge fund roughly two years ago — had no previous investment experience. His fledging firm has watched its assets plunge from $45bn at the start of July to about $10bn.

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© Photograph: Tolga Akmen/EPA

© Photograph: Tolga Akmen/EPA

© Photograph: Tolga Akmen/EPA

US chip company Marvell Technology committed to invest $250 million in India over the next three years, expanding its facility in Bangalore to drive next-generation technology development.

Marvell stated the pledge coincides with its 20th anniversary in the country, during which it focused on advancing the semiconductor ecosystem and engineering talent.

It established operations in Bangalore in 2006, a site which has since become the company’s second-largest R&D organisation worldwide.

Through the $250 million outlay, Marvell stated it plans to double headcount, scaling up its site in Bangalore and expanding its presence in Hyderabad. It expects the expansion to strengthen its global innovation network, supporting the design and development of advanced semiconductors for AI, cloud and data infrastructure applications.

Navin Bishnoi, VP and India country manager, said the nation plays a critical role in helping Marvell advance infrastructure technologies which power leading global hyperscale companies and cloud providers.

“As we celebrate 20 years in India, we remain committed to expanding R&D investments, strengthening the country’s semiconductor ecosystem and developing the next-generation of technology talent.”

India has made a big push around boosting its semiconductor sector in recent years.

Earlier this month, the government committed to invest around $20 billion to boost chip and smartphone production as part of a long-term goal to become 100% self-reliant.

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Indian IT company HCLTech teamed with AI start-up Sarvam to build a data centre in the eastern state of Odisha, tapping increasing demand for the technology and cloud computing.

The project is expected to cost around INR142.6 billion ($1.5 billion), with financial assistance from the government of Odisha, HCLTech stated.

It pitched the data centre as central to boosting sovereign AI and the local developer ecosystem, employing the full-stack of its capabilities with the technology along with Sarvam’s foundation models to tailor services for private and public sector enterprises.

The company stated the data centre would also help to deliver multi-lingual AI-based services in line with calls from Indian Prime Minister Narendra Modi for the technology to benefit all citizens.

HCLTech is building its relationship with Sarvam AI after acquiring a 10.5% stake in the business for $150 million.

This month, it struck a $1.1 billion deal with an unnamed European company.

HCLTech CEO and MD C Vijayakumar said the data centre in Odisha is an important milestone in its full stack AI play, explaining the state offers “a progressive policy environment backed by excellent infrastructure”.

In November 2025, rival Tata Consultancy Services also announced plans to develop AI data centres in partnership with private equity company TPG and investing around $2 billion.

HCLTech separately outlined a plan to open a technology centre in the city of Bhubaneswar, also in Odisha.

It intends for the site to be operational by 2028, housing around 5,000 employees.

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KDDI predicted a greater role for drones in disaster response after completing tests operating a craft connected through satellite rather than its terrestrial mobile network.

It noted tests conducted in May using SpaceX’s Starlink satellites advance the potential role for drones in disaster recovery by removing gaps in the reach of mobile networks from the operational equation.

KDDI stated the satellites were confirmed as a viable means of connecting remotely operated drones, boosting potential use cases for public and private sector organisations.

It expects search and rescue, environmental monitoring and infrastructure inspection to be among the use cases the expanded drone operations could deliver.

The operator worked with specialist division KDDI Smart Drone on the trial and stated the pair are committed to developing a set-up enabling access to remotely-controlled craft anywhere in Japan in under ten-minutes.

KDDI plans to further develop its remote drone operation capabilities by authenticating the best combination of network connectivity and refining the handoff between mobile and satellite networks.

It aims to create a reliable beyond-visual-line-of-site remote drone operation system which could be tailored to specific use cases and geographies.

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NTT and Japanese media company TBS identified AI as a potential danger to children’s decision-making abilities and outlined an intention to form a company to tackle the issue using digital games and smartphone apps.

The pair plan to commence operations of their e6 joint venture on 8 August to help children form clear ideas in a world where AI offers myriad possible answers to questions. The business is to be used to commercialise a namesake project NTT and TBS launched in February to provide an experience-based educational approach using various technologies.

NTT stated the companies created Emotional Knight, a story-based “original IP” emotive education game employing AI and extended reality to teach decision-making.

NTT President and CEO Akira Shimada said the companies believe huge volumes of information are not necessarily the best thing for children.

Instead, they need “the ability to think for themselves and make their own decisions while interacting with a wealth of information and AI”.

The companies intend to expand the line-up of educational games, develop relevant IP and add more “entertainment experiences” which foster children’s “ability to make independent decisions”.

NTT is contributing group resources including its innovative optical and wireless network, tsuzumi 2 LLM, R&D and social implementation capabilities. TBS brings content creation, IP development and distribution elements.

The Japanese conglomerate stated feedback from an event held in March showed a high level of satisfaction.

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India committed to spend an additional INR1.9 trillion ($19.7 billion) on boosting chip and smartphone production in the country, accelerating an initiative first laid out five years ago.

Prime Minister Narendra Modi’s government has allocated around INR1.3 trillion to provide state aid for semiconductors and a INR625 billion outlay on smartphones.

The latest investment builds on the Semicon 1.0 initiative outlined in 2021 to invest around INR1 trillion on starting and establishing the country’s semiconductor sector.

In a statement, Ashwini Vaishnaw, minister for Electronics and Information Technology, explained under the refreshed Semicon 2.0, the nation would focus on ensuring chips are being designed in India that can meet all its needs, and by the end of the programme, “we will be 100% self-reliant”.

He added every major industry leader wants to establish a presence in the country “given the growing interest in India’s semiconductor programme”, pointing to partnerships already established with the US, Japan, the European Union (EU), Netherlands, Singapore and Germany.

The minister added the investment and incentives will be aimed at projects around chip design, fabrication of machinery, R&D and talent creation.

Under the Mobile Phone Manufacturing Scheme, Vaishnaw said it would create around 60,000 direct jobs, while it will look to incentivise domestic companies with Chinese suppliers currently dominating the market.

India’s semiconductor advancement adds to similar moves in the US, which has a funding programme in place worth $52 billion. The EU recently unveiled a revamp to its own Chips Act.

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Authorities in South Korea kicked-off a project led by SK Telecom (SKT) and KT to pilot the use of advanced networks to support robots and other physical AI applications in industrial sites including shipyards and manufacturing facilities.

The Hyper AI Network Infrastructure Development project is being overseen by South Korea’s National Information Society Agency (NIA) and carries a total budget of KRW17.2 billion ($11.6 million).

Launching the project, the NIA revealed it selected two consortia to create the networks for industrial sites and hold the demonstrations.

One group is led by SKT and the other by its rival KT. Other organisations involved comprise AI companies, network vendors, universities, enterprises and certification bodies.

The project involves networks using standalone 5G and AI-RAN to provide the testing ground for a range of industrial applications under the broad umbrellas of physical and operational AI.

Equipment from various vendors and chipmakers is set to be used, with SKT identifying Samsung Networks, Nokia, Ericsson and HFR among its suppliers in its statement on the project.

Initial applications to be tested are “AI-based” welding, painting and patrol robots. From 2027 onwards, the infrastructure is expected to host demonstrations of humanoid robots.

Abilities of the AI-toting machines set to be verified include recognition, judgement and control performance in what the NIA described as high-risk and -difficulty working environments.

Swarm collaboration performance for multiple robots is one specific ability set to be looked at, a feature the agency highlighted as being “difficult to implement with on-device AI alone”.

The NIA expects the project to lay the groundwork for commercialisation of the technologies being assessed.

In a translated statement, the agency’s director Kim Hyung-chul noted “for physical AI to be safely and stably implemented in industrial settings, Hyper-AI networks that support ultra-low latency, high-reliability communication and large-capacity uplink are essential”.

“Through this project, we will verify the field applicability of next-generation AI network technologies such as AI-RAN, discover and spread physical AI service models optimised for industrial sites, and accelerate AX across the entire national industry.”

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Taiwan Mobile and Nokia expanded a contract for 5G kit with a view to pushing the operator’s move towards AI-native mobile network architecture.

The deal involves the supply of products from Nokia’s AirScale portfolio including next-generation baseband and radio systems, alongside software providing the operator’s network with an AI boost.

Nokia highlighted the radios and baseband units support improvements in throughput, spectrum efficiency and delivery of premium user experiences. On the software side, it pointed to an opportunity for real-time automation and predictive analysis to bolster operational efficiency.

The boost in network capacity and uplink delivered by the upgrade is also promoted as meeting the specific needs of AI applications.

Other benefits noted include use of AI for power management to cut energy consumption and traffic steering capabilities to up resilience.

Taiwan Mobile president Jamie Lin explained its collaboration with Nokia is key in a “strategy to build a high-performance, resilient and sustainable network”, which is the basis for a “Telco and Tech” push by the company.

Nokia head of RAN Mark Atkinson added the deal would help accelerate Taiwan Mobile’s “journey toward AI-native networks”, noting the equipment being supplied would set “the foundation for 5G-Advanced and beyond”.

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Plans to build a NZ$3.5bn datacentre in Makarewa in the country’s south has drawn concern about electricity and water use, and potential noise pollution

People living near the site of New Zealand’s first planned AI datacentre are calling for more transparency about the project, especially about how the centre’s huge electricity and water use and potential noise pollution could affect them.

Singapore-based company Datagrid has secured approval to build a NZ$3.5bn (US$2bn) AI datacentre on a 49-hectare site in Makarewa, just north of New Zealand’s southern-most city, Invercargill. Construction is due to begin this year, with the centre becoming operational by 2028.

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© Composite: Datagrid NZ

© Composite: Datagrid NZ

© Composite: Datagrid NZ

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Reliance Industries-owned Jio Platforms filed for an IPO in Mumbai, reportedly with intentions of raising around INR360 billion ($3.8 billion) to pay down debt in its telecoms business.

Billionaire owner Mukesh Ambani (pictured) said at Reliance Industries’ annual shareholder meeting its board had approved a prospectus, which has now been filed with Indian regulators.

Th prospectus did not reveal the size of the listing or a fundraising target, but Reuters reported the sum it is looking for, noting this would be equal to 2.9% of its equity and value the entire business at around INR12.3 trillion.

The previous largest IPO amount raised was the INR278.7 billion generated by Hyundai Motor in a listing in 2024.

Jio Platforms includes the company’s Jio Infocomm telecoms arm and houses its AI, cloud and enterprise network offerings.

Reuters stated around INR275 billion of any sum raised would go towards repaying Jio Infocomm debt.

Ambani said the proposed listing “will demonstrate to the world that India can build technology companies of global scale, global capability and global value”.

Jio entered the Indian market in 2016 and shook up the competitive landscape with low-cost data plans, which attracted millions of users.

In its prospectus, the company stated it had 524.4 million subscribers at end-March, including 268.5 million 5G customers.

The company previously attracted funding from global investors including Meta Platforms, Google and private equity players.

Should the IPO size prove correct, the target is lower than previously mooted: in 2025, Bloomberg reported it was looking to list 5% of its mobile unit, to raise around $6 billion.

Starlink rival.
Also at the shareholder meeting, Jio Platforms revealed it is exploring building its own satellite constellation, a move which would directly rival SpaceX’s Starlink.

Bloomberg reported Jio Platforms’ MD Akash Ambani said it is considering deploying a low Earth orbit satellite network along with exploring partnerships to lease capacity from global providers to “accelerate service availability while building our own long-term sovereign capability”.

The approach would allow Jio to lay the foundation for a satellite broadband play, while working to build ground stations to support the network.

Starlink has partnered with Jio, but is yet to launch services in India due to regulatory roadblocks.

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South Korean operator KT moved the goalposts in customer loyalty initiatives, promising to take 1,200 of its most-dedicated subscribers for a night out at a musical based on the work of late artiste Kim Kwang-seok.

KT is targeting the offer to attend The Days at customers who have subscribed to its mobile, internet and TV services for at least five years, pitching the move as a cultural twist on traditional loyalty rewards.

The seating capacity of the D-cube Arts Centre hosting the musical is 1,242, meaning KT’s move is essentially a complete takeover for the night of 25 July.

KT also plans to offer those attending commemorative photographs and theatre programmes.

The operator is also offering an experience at the KT Wiz Park involving baseball, inviting applications from customers keen to enjoy some luxury camping and watching a game at the venue.

KT emphasised the musical and baseball offers are somewhat extreme examples of ongoing lifestyle benefit programmes providing various discounts on services.

Kim Young-geol, SVP and head of KT’s Customer Business Division, said the operator arranged “this Invitation Dream event to express our gratitude” to long-term customers.

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Australian regulator ACMA advanced preparations for the introduction of anti-scam measures on SMS by advising users of the visual changes involved.

ACMA lined up the introduction of SMS Sender ID Register rules for 1 July and stated it would mean some messages are labelled as unverified to alert consumers to potential scams.

Unverified messages are to be grouped in a single thread to draw attention to them.

ACMA member Samantha Yorke believes the measures will boost consumer confidence in the legitimacy of messages and “help prevent impersonation scams”.

She advised people to be cautious about messages tagged as unverified and check for proven contact information online or using bills.

The regulator is acting after scammers took Australians for almost AUD18 million ($12.7 million) using SMS in 2025.

It stated almost 17,000 sender IDs have already been verified, but Yorke warned businesses which do not get their details in by the launch date risk being flagged as potential scams.

She said operators are also set to publicise the move to their customers directly.

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