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Finance

Visa wins PBOC preparatory approval for China card clearing unit

Visa has received approval from the People’s Bank of China to begin preparations to set up a bank card clearing institution in China through its wholly owned unit, Visa Information Technology Beijing. The approval is a preliminary step and does not allow immediate operations. The report said Visa must complete preparations within a year and then apply for a formal licence. American Express and Mastercard previously obtained clearing licences from the PBOC.

AI & Enterprise

Nvidia says AI data centres waste up to 40 percent of power as electricity emerges as key constraint

AI data centres are using about 40 percent of electricity inefficiently, according to a report citing Nvidia. Nvidia said power bottlenecks could become a bigger constraint than chip shortages. It said up to 70 percent of grid power is used for AI computing, with the remainder lost to infrastructure operations and inefficiencies. Nvidia and Vertiv are jointly designing next-generation data centres from early 2026, aiming to reduce losses and improve efficiency per unit of power.

Games & Commerce

Shina Chung says AI will build next decade of connections as Kakao expands KakaoTalk agent ecosystem

Kakao is expanding KakaoTalk into a space where users can assign tasks to AI agents and receive results. CEO Shina Chung said the company will use AI to create connections for the next decade, extending existing links from recommendations to execution for search, shopping and reservations. Kakao unveiled the KakaoTalk assistant Canana Space and the PC-based agent creation service Kanvas, and plans to add a new KakaoTalk area in the first half of next year to connect personal agent teams, including external agents.