Nikkei: China launches $47bn chip fund to counter US restrictions

Bloomberg: China creates $47.5 billion chip fund to back Nation’s firms

+ State-owned banks, firms among major shareholders of the fund

+ China tries to buy tech breakthroughs with heavy investment

Commerce-backed deal with Emirati AI giant sets off alarm bells in Congress: Politico reports some lawmakers fear an unusual deal to wrest an Emirati tech champion away from Beijing could instead leak cutting-edge AI technology to China.

AI is driving ‘the next industrial revolution.’ Wall Street is cashing in. Far beyond the tech sector, investors are finding winners in old-school pick-and-shovel stocks. WSJ

OpenAI's Johansson gaffe pushes voice cloning into spotlight: OpenAI was forced to apologize to actor Scarlett Johansson last week for using her voice –- or something very similar –- on its latest chatbot, throwing the spotlight on to voice-cloning tech. AFP

WSJ: Elon Musk’s xAI raises $6 billion in latest fundraising round

Reuters: Elon Musk's xAI valued at $24 bln after fresh funding

Amazon in talks with Italy to invest billions of euros in cloud plan, sources say: Reuters reports AWS is in talks with Italy to invest billions of euros in the expansion of its data centre business in the country as part of the tech giant's effort to boost its cloud offer in Europe, four people familiar with the matter said.

The media bosses fighting back against AI — and the ones cutting deals: As OpenAI and other tech firms make advances, the media industry is split between pushing back and making deals. WP

AI firms mustn’t govern themselves, say ex-members of OpenAI’s board: For humanity’s sake, regulation is needed to tame market forces, argue Helen Toner and Tasha McCauley. Economist

AI will transform sports betting. It will also increase the risks. Artificial intelligence is set to revolutionize wagering. Problem gambling will rise, too. WSJ - Editorial

Enjoy the ride + plan accordingly.

-Marc