South Korea President Lee looking to open new era of AI in with global tech companies

President Lee delivered a keynote address ​unveiling a "San Francisco AI Declaration" that outlined South ​Korea's AI ambitions and its vision for technological cooperation with the United States. Lee separately met Nvidia CEO ​Jensen Huang, OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei and Broadcom CEO Hock Tan, before joining the South Korean government-backed summit ​in San Francisco.

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Nvidia CEO Jensen Huang backs open AI models, coalition for safety and innovation

A broad coalition of companies and institutions, including Nvidia, Meta, Microsoft, Hugging Face, and the Linux Foundation signed a letter, arguing that open-weight models, which are systems anyone can download, inspect, and modify, deserve a major place in the US' AI strategy, not a defensive afterthought.

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Meta adds new task automation features to AI assistant

The updated Meta AI, powered by the company's new ‌Muse Spark ⁠1.1 ⁠model, is designed to understand user context and execute ​tasks without constant prompting.

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Pentagon awards Oracle nearly $7 billion deal in latest software consolidation push

The Enterprise Software Agreement, negotiated by the Department ​of the Navy, is between the Pentagon and Oracle for ​its on-premises compute usage.

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Flipkart chief rules out IPO timeline; Infosys names new CEO

Happy Friday! Flipkart group CEO Kalyan Krishnamurthy talked to us about IPO plans, quick commerce, and festive demand. That and more in today’s ETtech Morning Dispatch.

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'First cheque is never just capital, it's belief': Skyroot's Pawan Kumar on angel investor Mukesh Bansal

Chandana said Bansal trusted the founding team and gave them room to make their own calls while staying available to mentor them. "The first cheque is never just capital. It is belief," Chandana noted.

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White House accuses China's Moonshot of stealing Anthropic AI

A top White House official on Wednesday accused Chinese AI startup Moonshot AI of covertly copying Anthropic's most advanced model to build its Kimi K3. Michael Kratsios, director of the White House Office of Science and Technology Policy, said in a post on X that the United States had "information that Moonshot AI distilled Anthropic's Fable for the development of its K3 model."

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OpenAI says AI models went rogue during testing, triggering 'unprecedented' breach at startup

In a ​blog post, OpenAI said it was testing the capabilities of some of its most advanced models in a controlled environment but that the agent managed to escape containment, reach the internet and break into Hugging Face to try to satisfy its testing goal. OpenAI's disclosure ​that its advanced ​models were responsible for the breach, despite having placed them in what it described ⁠as "a highly isolated environment," will likely intensify disquiet over the power and ​risk of frontier models.

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TikTok US chief security officer to testify before US House on September 15

This is the first time a TikTok US executive will ​testify publicly in the US House since the company's Chinese owner, ByteDance, finalized a deal to ​split the US app from ⁠its global ‌business. ByteDance has disclosed few details ​about ​the deal, and a hearing would allow ⁠lawmakers to ask questions about US President ​Donald Trump's role in brokering the ​split and Chinese involvement in the US app.

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InMobi appoints JPMorgan, Jefferies for nearly $1 billion IPO

The SoftBank Group Corp.-backed firm is likely to seek a valuation of $5 billion to $6 billion in a share offering, Bloomberg News reported last year, which would place it in the mid-range of Indian publicly traded tech firms.

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Paytm board shelves bonus issue, prioritises growth and profitability

The board discussed the proposal at its meeting on July 20 before deciding not to take it forward “at this time”, the company said in a stock exchange filing. Paytm may reconsider a bonus issue later.

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