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AI & Enterprise

AI bubble fears sweep tech, boosting open-weight AI

Concerns about excessive investment in AI infrastructure weighed on tech markets, pushing down AI-related stocks, while Apple, seen as investing less in AI, reached a $5 trillion market value after Nvidia. Some observers warn today’s AI data-centre shortages could turn into long-term overcapacity that shocks equities, with investors shifting toward U.S. Treasuries. The report also cites slowing revenue growth at Anthropic and increased moves by U.S. firms into open-weight AI models.

AI & Enterprise

ITCEN CTS steps up expansion of AI data centre business

ITCEN CTS, an IT infrastructure unit of ITCEN Group, is working with Lotte Innovate to expand its artificial intelligence data centre business, starting with operations at the Ansan Global Cloud Center due for completion in 2027. The centre is being built to meet rising data-processing demand driven by wider use of AI and cloud services. The two companies plan joint sales and marketing and aim to pursue hyperscale and edge data centre opportunities.

Mobility

Saudi Arabia moves to build auto industry, unveils 1,111-hp Exobot EV

Saudi Arabia is moving to foster its auto industry through Ceer, its first domestic full-vehicle maker. Ceer unveiled two electric models, the Exobot sedan and SUV, positioning them as part of Vision 2030. The company plans to expand its lineup to seven models by 2030, including hybrids. It is focusing first on the GCC while developing vehicles for fast certification in Europe and North America. Ceer highlighted performance, digital features and local production plans near Jeddah.