Brazil will invest about 2.3bn reais ($444.2m) to bolster its artificial intelligence ecosystem, splitting projects between United States and Chinese tech firms in a strategic move that underscores its efforts to balance ties with both superpowers. Just more than half the total, 1.3bn reais ($251m), will fund a supercomputing infrastructure project in Rio de Janeiro developed in partnership with China's Huawei Technologies and iFlytek, President Luiz Inacio Lula da Silva's government said on Thursday. The machine will be installed in the northeastern state of Rio Grande do Norte, chosen for its energy potential. Lula attended an announcement ceremony in the state on Thursday. The Reuters news agency quoted unnamed government officials as saying they expect US chipmaker Nvidia to win the tender.

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SoftBank Group's $200 million investment in Swiss startup Gravis Robotics marks another major robotics bet as founder Masayoshi Son seeks to make the company a pivotal player in the global AI race. SoftBank Group has invested $200 million in Gravis Robotics, a Swiss startup that makes autonomous software for construction machinery. Zurich-based Gravis announced the Series A investment in a statement on Monday but didn't share a valuation. It was reported in July that SoftBank was considering an acquisition of Gravis that might be completed in several stages, which includes injecting fresh capital over time. The deal marks another splashy investment into robotics from SoftBank, whose founder, Masayoshi Son, is trying to make his firm a pivotal player in the global artificial intelligence race. The Japanese investor, which by October is set to own a 13% stake in OpenAI, has backed a range of robotics businesses, including with the acquisition of ABB's industrial unit last year.

What Does the Humbling of Leopold Aschenbrenner Mean for the A.I. Bubble? In the classic book " Manias, Panics, and Crashes: A History of Financial Crises," the economic historian Charles Kindleberger divided episodes of speculation into five stages. Citing the work of Hyman Minsky, the post-Keynesian theorist, Kindleberger writes that the process begins with a displacement, such as the emergence of an important new technology, or a major policy shift, that gets investors excited about the future. They start to bid up asset prices, and capital floods into the affected sector. As optimism spreads, an investment boom--the next stage--develops, much of it facilitated by credit expansion, and the repercussions are felt in the broader economy.

Sony Semiconductor Solutions and TSMC are partnering on next-generation image sensors for robots and cars, a person familiar with the plans says. Sony Group and Taiwan Semiconductor Manufacturing Co. are in talks to spend a combined ¥1 trillion ($6.4 billion) on their planned joint factory in Japan, according to a person familiar with the plans. The Japanese company's chip arm Sony Semiconductor Solutions and TSMC are partnering on next-generation image sensors for robots and cars. The factory will begin production in 2029, the person said, asking not to be named because the talks are private. No time frame was given for the investment under discussion, they said. Representatives of Sony and TSMC did not immediately respond to a request for comment.

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Follow this section to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW? Smart Alerts: Get notified about major news as it happens. LeBron James speaks onstage during the TIME100 Sports Gala on July 16, 2026 in New York City. LeBron James speaks onstage during the TIME100 Sports Gala on July 16, 2026 in New York City.

China's Xi says AI'should not be a solo performance by a single country' Artificial intelligence should not be dominated by one country, Chinese President Xi Jinping has said, urging international cooperation on development at a major conference in Shanghai. Chinese AI models are gaining ground on the most powerful offerings from the US, attracting global users with lower costs. But how to govern the booming sector has become a topic of debate amid concerns over the deployment of AI in military combat and its use by hackers or criminals. In his address, Xi spoke of China's role in ensuring equitable access to AI capacity-building for developing countries to prevent the creation of "new historical injustices". To that end, he announced China's plans to cooperate with international bodies, including from Africa, Latin America, Asia and BRICS countries, to provide AI-related opportunities.

UK fears a'triple whammy': oversized investment in AI stocks, slower adoption of AI than predicted and the breakneck pace of AI's development The UK wants a piece of the mammoth global investment in AI but fears it as well. In the coming weeks, the Bank of England is planning to ease capital rules to help encourage more lending. But the central bank simultaneously expressed concerns that there are too many loans going to investors like hedge funds, who are using that money to buy up AI stocks. The central bank's moves reflect the country's global position: hoping to catch up to the US and China in the AI race, struggling to mobilize its resources to do so, and too wary of the risks to go full bore. UK banking regulators have recently been under enormous pressure to do more to stimulate growth, my colleague Kalyeena Makortoff this week reports.