OpenAI wins $200 million US defense contract

Alphabet's CapitalG and Nvidia are in advanced negotiations to lead a multi-billion dollar funding round for Vast Data, potentially valuing the company at $30 billion. Founded in 2016, Vast Data specializes in unified storage and data management platforms for AI and analytics workloads, reaching $200 million in annualized recurring revenue by January 2025. This potential investment highlights the growing importance of data infrastructure for AI applications and would position Vast Data among the most valuable private data infrastructure companies globally.

McDonald's plans to expand to 50,000 restaurants by 2027 while significantly increasing AI investment. Working with Google Cloud, the company is implementing AI-powered drive-thru ordering, predictive maintenance, and order verification cameras across 43,000 locations. McDonald's is deploying edge computing for real-time data processing and developing a universal software platform to standardize digital experiences. The strategy includes personalized promotions targeting 250 million loyalty members by 2027 and leverages data from thousands of locations to continuously improve their generative AI models.

Apple CEO Tim Cook has announced a significant increase in AI investments, pledging to accelerate development through expanded data centers and potential acquisitions to catch up with competitors. Apple is embedding AI across all devices and platforms, focusing on privacy and personalized experiences. The company has acquired seven AI companies recently and is reallocating internal resources to advance Siri and Apple Intelligence features. Despite being viewed as lagging behind rivals like ChatGPT and Google in generative AI, Apple is introducing over 20 new AI features and remains committed to creating technology that's private and seamlessly integrated throughout its ecosystem.

South Korea's exports surged 5.9% year-on-year in July, reaching $60.8 billion and marking the fastest growth in seven months. This exceeded market expectations of 5.1% growth. Semiconductor exports were the main driver, jumping 31.6% to a record $14.71 billion for July. Imports rose marginally by 0.7% to $54.2 billion, resulting in a $6.61 billion trade surplus. Analysts believe companies accelerated shipments to the US ahead of tariff increases planned for 2025, though this front-loading effect may moderate in coming months. The export growth could support South Korea's broader economic recovery, though officials remain cautious about future challenges from evolving global trade conditions.