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Games & Commerce

Snap alumni launch early-stage AI fund targeting next-generation social media

About 20 people with backgrounds at Snap have formed an early-stage investment fund called Ghost Angels aimed at next-generation social media. TechCrunch reported the fund has already invested in at least five companies and plans to deploy remaining capital into more than 15 companies over the next year. The fund did not disclose its size. It targets pre-seed to seed AI startups in social media and consumer sectors.

Industry

Leica says generative AI will not be in M cameras but fits Xiaomi 17T Pro

Leica said generative AI features should be distinguished from its traditional cameras, while there is room to use them in licensed brands such as Xiaomi’s 17T series. The comments were made at a roundtable held after the launch of the Xiaomi 17T Pro, which highlights Leica-tuned cameras and Google’s text-to-video tool Gemini Omni. Leica also underscored photo authenticity tools, including digital signatures and metadata.

Industry

Semiconductors, defense, shipbuilding and power equipment to drive South Korean exports in second half

Semiconductors, defense, shipbuilding and power equipment are expected to lead South Korea's exports in the second half, with simultaneous strength across the four sectors seen absorbing external shocks despite prolonged Middle East tensions and a surge in Strait of Hormuz shipping rates. The Bank of Korea raised its growth outlook and lifted its inflation forecast, citing strong first-quarter growth and an extended semiconductor cycle. Officials also pointed to broader export gains across industries.