Banks discuss 38 billion dollar loan for OpenAI site funding according to Financial Times

Banks are negotiating a $38 billion loan to support Oracle and Vantage in building data centers for OpenAI's infrastructure expansion. This significant investment demonstrates the substantial capital required for advancing AI capabilities. Oracle will provide technological expertise while Vantage will construct the physical facilities to house OpenAI's computing hardware. The funding reflects growing confidence from financial institutions in AI technology's future and highlights the critical importance of robust data center infrastructure for companies like OpenAI to develop and deploy advanced AI models and services such as ChatGPT.

German drone manufacturer Quantum Systems raised €180 million, tripling its valuation to over €3 billion. Founded in 2015, the company pivoted from civilian applications to dual-use drones after Russia's invasion of Ukraine. Their AI-powered drones, including the Jaeger platform, operate in contested environments with high autonomy. With manufacturing in Ukraine and partnerships with German defense, Quantum Systems projects revenues of €300 million in 2025 and €500 million in 2026. The new funding will expand production capacity and support acquisitions in sensor technology.

Leonardo has unveiled the Michelangelo Dome, Italy's advanced multi-domain air defence system designed to counter modern threats including hypersonic missiles and drone swarms. This integrated architecture combines next-generation sensors across multiple domains with AI-powered command systems. Set to be fully operational by 2028, it will protect critical infrastructure and strategic assets. The system represents Italy's commitment to European strategic autonomy while maintaining NATO compatibility, drawing inspiration from Israel's Iron Dome but expanding capabilities for comprehensive threat response.

Alibaba has launched Quark AI Glasses in China, entering the global AI wearables market dominated by Meta. Priced from 1,899 yuan (S$348/US$660), these sleek glasses are powered by Alibaba's Qwen AI model and offer features including real-time translation, hands-free calling, and integration with Alibaba's ecosystem for payments and shopping. The glasses boast 4K video capture, all-day battery life, and superior AI responsiveness compared to competitors. While Meta controls 80% of the VR headset market, and companies like Apple, Samsung, Xiaomi, and Baidu offer competing products, experts note Quark's dual-chip system outperforms Meta's offerings. The glasses will see broader release in China by late 2025 as Alibaba aims to lead in ambient AI wearables.