Amazon announced a massive $200 billion spending plan for this year, primarily focused on data centers, satellites, and other infrastructure to fuel its artificial intelligence ambitions, according to the New York Times. This investment, which surpasses Wall Street's expectations by $50 billion, highlights the escalating competition among tech giants in the AI race.
The announcement is part of a trend of significant AI investment by major technology companies. Alphabet, Google's parent company, plans to spend up to $185 billion this year, while Meta indicated that its capital expenses, largely for AI support, could reach $135 billion, as reported by the NY Times. Despite investor concerns about the long-term payoff of these massive data center investments, these companies show no signs of slowing down.
In other news, former US President Donald Trump endorsed Japan's Prime Minister Sanae Takaichi ahead of a snap election scheduled for Sunday, according to BBC World. Trump, in a Truth Social post, praised Takaichi as a "strong, powerful, and wise leader" who "truly loves her country." This endorsement is notable, as it is uncommon for US presidents to publicly support candidates in foreign elections, although Trump has done so previously.
Meanwhile, the UK's £8 billion research fund is facing "hard decisions" as it pauses new grants, BBC Technology reported. Ian Chapman, the head of UK Research and Innovation (UKRI), warned that the organization, which spends £8 billion of taxpayer money annually on research and innovation, was instructed by the government to "focus and do fewer things better." Chapman added that this would "result in negative outcomes for some." This represents a major reorganization of how Britain's scientific research and innovation is prioritized and funded.
In the realm of healthcare, the US continues to grapple with the complexities of its healthcare system. Jeff King, a former pastor, was shocked by a $160,000 bill for a medical procedure, despite having a cost-sharing alternative plan, according to BBC World. King stated, "It was pretty traumatic," highlighting the financial strain faced by many Americans. He is one of approximately 100 million people, or about 40% of Americans, estimated to be in a similar situation.
Finally, in Thailand, the People's Party is navigating the challenges of political success. Suttasitt "Macky" Pottasak, a candidate from the People's Party, is a young, idealistic individual who gave up a career in TV drama production to run for office, according to BBC World. He won a rural seat near his home city and uses social media to promote his party's policies, which are gaining significant traction.
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