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AI & Enterprise

Global companies step up push into South Korea\'s sovereign AI market

Global AI companies are accelerating efforts to target South Korea’s sovereign AI market, focused on AI infrastructure controllable by governments and enterprises. Palantir held a second pop-up event in Korea, while Mistral began hiring in Seoul and Cohere outlined plans to set up local entities and double Asia-Pacific staff by year-end. The article also rounds up moves by OpenAI, Anthropic, Meta, Salesforce and others, including models, acquisitions, investments and cloud and AI agent infrastructure tools.

Crypto

Bitcoin holds $80,000 after AI-driven stock selloff wipes out $400 million in long positions

Bitcoin briefly fell below $80,000 over the weekend, touching $79,280 before recovering. The move followed further declines after a stock selloff linked to concerns over fundraising in the AI industry. Liquidations totalled $436.4 million over four hours, with long positions accounting for $404.2 million. U.S. spot bitcoin ETFs saw $635 million in net outflows on Oct. 22. Separately, Arthur Hayes said he closed directional positions for Maelstrom.

AI & Enterprise

Utopai raises $60 million at $1 billion valuation, plans three feature-length AI films in theaters next year

AI film startup Utopai Studio has raised $60 million at a $1 billion valuation. A source close to the company said it has also received follow-on investment offers valuing it at $2 billion to $3 billion. Utopai is working on about 20 AI video projects, including two TV series and three feature-length films set for theatrical release next year, with plans to open in about 3,000 North American theaters.