HSBC to Offer Tokenized Deposits to US and UAE Clients

Caterpillar Inc. has emerged as an unlikely player in the artificial intelligence sector, primarily known for its manufacturing of heavy machinery such as earth movers. The company has historically focused on traditional industrial equipment, making it less aligned with the AI-driven technology trends that have captivated many other sectors. Despite the growing interest in AI, Caterpillar's core business remains rooted in physical machinery, which may limit its appeal in the rapidly evolving tech landscape.

The internet has become an essential part of daily life, underpinning the global financial and consumer ecosystem. Its fragility is highlighted by the significant costs and inconveniences incurred when parts of it fail. As reliance on the internet grows, understanding its vulnerabilities becomes crucial for maintaining stability in communication and transactions worldwide.

The US is set to approve the sale of advanced artificial intelligence chips to the Saudi Arabian AI firm Humain, according to sources familiar with the matter. This decision comes as Saudi Crown Prince Mohammed bin Salman meets with US President Donald Trump, marking a significant step for the state-backed venture. The approval is seen as a positive development for both the US technology sector and Saudi Arabia's ambitions in AI.

Kalshi Inc. CEO Tarek Mansour has announced that prediction markets are experiencing rapid growth and are expected to rival stock exchanges within a few years. This development indicates a significant shift in the financial landscape, as prediction markets offer an alternative method for investors to speculate on future events. The rise of these markets could attract a new wave of participants, potentially transforming how people engage with financial predictions and investments.

Lovable, a Swedish artificial intelligence coding startup, has announced that it has achieved $200 million in annual recurring revenue. This milestone reflects the company's rapid growth and positions it to seek additional funding less than five months after its previous fundraising round. The achievement highlights Lovable's increasing prominence in the technology sector, particularly in AI-driven solutions for coding.

Raith, a German supplier of nano-technology for critical sectors like quantum computing, is considering a sale that could value the company at approximately €1 billion ($1.2 billion). The private equity owner is exploring this option amid growing interest in quantum technologies, which are becoming increasingly vital in various industries.

At a recent summit in Germany, top officials emphasized the need for Europe to enhance its position in the artificial intelligence (AI) sector. The discussions aimed to propel the region to the forefront of the digital era while reducing its dependence on major US technology companies. This initiative reflects a growing recognition of the importance of AI in global competitiveness and the desire for Europe to assert its capabilities in this critical field.

Uzbekistan is preparing to launch the initial public offering (IPO) of its national investment fund, marking the country's first-ever listing in London. This move is expected to set a precedent for other state-backed companies in Uzbekistan, as sources indicate that the government is keen to attract foreign investment and enhance its economic profile on the international stage.