Tech & Space

DeepSeek Buzz Triggers $1tn Selloff in Tech Stocks

January 27, 2025

DeepSeek Buzz Triggers $1tn Selloff in Tech Stocks

Chinese AI startup DeepSeek's new AI model has sent shockwaves through global markets, causing a $1 trillion drop in US and European tech stock valuations. The model's cost-efficiency challenges high-spending AI strategies of companies like Nvidia, Microsoft, and Meta. Nasdaq futures plunged, and Nvidia shares tumbled over 10%, putting the AI-driven rally under scrutiny.

UK Prime Minister Unveils Bold AI Action Plan to Propel UK Growth

January 13, 2025

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UK Prime Minister Unveils Bold AI Action Plan to Propel UK Growth

The UK government has announced an ambitious AI Opportunities Action Plan, aiming to integrate artificial intelligence into public services and the economy to foster growth and efficiency. Backed by a £14bn investment from leading tech firms, the plan includes AI Growth Zones, job creation, and initiatives targeting education, healthcare, and infrastructure.

Amazon’s Project Kuiper Moves Forward with UK Satellite Broadband Plans

January 6, 2025

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Amazon’s Project Kuiper Moves Forward with UK Satellite Broadband Plans

Amazon’s satellite broadband initiative, Project Kuiper, is advancing its efforts to enter the UK market as it seeks to rival Elon Musk’s Starlink. The project, which is awaiting regulatory approval from Ofcom, plans to provide high-speed internet to underserved areas and government services.

Italy Advances €1.5bn Telecom Security Deal with SpaceX

January 6, 2025

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Italy Advances €1.5bn Telecom Security Deal with SpaceX

Italy is progressing toward a €1.5 billion telecommunications security services agreement with Elon Musk's SpaceX. The deal, aimed at providing encrypted communications for the Italian government and military, is under review and has faced pushback from local telecom providers. The negotiations gained momentum following Prime Minister Giorgia Meloni’s recent visit to U.S. President-elect Donald Trump in Florida.

Türkiye Begins Construction of Rocket-Launching Facility in Somalia

December 18, 2024

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Türkiye Begins Construction of Rocket-Launching Facility in Somalia

Türkiye has started building a rocket-launching facility in Somalia as part of its national space program. The project, announced by Somalia's President Hassan Sheikh Mohamud, will enhance Türkiye’s long-range rocket testing capabilities and contribute to Somalia’s economy through job creation and revenue generation.

Meta Fined €251mn by EU for 2018 Facebook Data Breach

December 17, 2024

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Meta Fined €251mn by EU for 2018 Facebook Data Breach

Meta, the parent company of Facebook, has been fined €251 million by EU privacy regulators for a 2018 data breach that exposed millions of user accounts. The fine, issued by Ireland's Data Protection Commission (DPC), highlights multiple violations under the General Data Protection Regulation (GDPR).

EU Launches €10bn Iris2 Space Programme to Rival Starlink

December 16, 2024

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EU Launches €10bn Iris2 Space Programme to Rival Starlink

The EU has unveiled a €10 billion satellite initiative, Iris2, to ensure secure connectivity and cybersecurity for governments and militaries, challenging Elon Musk’s Starlink network. The UK, post-Brexit, is notably absent from the program, reflecting a growing divide in space and security collaboration.

TikTok Expands In-App Shopping to Spain and Ireland

December 11, 2024

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TikTok Expands In-App Shopping to Spain and Ireland

TikTok has introduced its TikTok Shop in Spain and Ireland, marking its first step in expanding its in-app shopping service across Europe. The feature allows users to purchase products directly on the app while engaging with businesses and creators in real time. Initially exclusive to businesses based in these countries, TikTok Shop showcases a range of products, from kitchen appliances to health supplements.