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Tahawul Tech07-07-2025
"@Oracle will build multiple data centres across the US with its partners to meet the additional demand from @OpenAI".
Learn more about this investment below.
https://www.tahawultech.com/channel/openai-to-rent-gigawatts-of-capacity-from-oracle/
#OracleCloud #OpenAI #tahawultech
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Dollar stablecoins threaten Europe's monetary autonomy, ECB blog argues
Dollar stablecoins threaten Europe's monetary autonomy, ECB blog argues

Zawya

time26 minutes ago

  • Zawya

Dollar stablecoins threaten Europe's monetary autonomy, ECB blog argues

The dollar's early dominance of stablecoins gives the U.S. an advantage that could ultimately push up borrowing costs for Europe, reduce the ECB's autonomy and increase geopolitical dependency on the U.S., an ECB blog post argued on Monday. Stablecoins, crypto assets pegged to a currency such as the dollar, have gained popularity in recent years and got a big boost earlier this month when U.S. President Donald Trump signed a law to create a regulatory regime, aimed at cementing the dollar's status as the global reserve currency. "Such dominance of the U.S. dollar would provide the United States with strategic and economic advantages, allowing it to finance its debt more cheaply while exerting global influence," ECB adviser Jürgen Schaaf said in a post that does not necessarily reflect the ECB's own views. "For Europe, this would mean higher financing costs relative to the United States, reduced monetary policy autonomy and geopolitical dependency," he added. If dollar-based stablecoins become widely used in the euro area, for payments, savings or settlement, the ECB's control over monetary conditions could be weakened, Schaaf argued. Dollar-pegged stablecoins issued by Tether and Circle have dominated the global market and the share of euro-denominated stablecoins remains marginal, with market capitalisation of less than 350 million euros, the blog post said. Europe should thus act quickly, creating the digital version of its euro currency, a project, that is being held up by legislative delays, and should foster the creation of more euro-based stablecoins. The EU should also foster the use of distributed ledger technology to speed up cheap cross-border payments, the blog argued. "Finally, stronger global coordination on stablecoin regulation is pivotal," the blog said. "If we forgo a common approach, we risk fuelling instability, regulatory arbitrage and global U.S. dollar dominance." (Reporting by Balazs Koranyi, Editing by Louise Heavens)

Tesla signs $16.5bn deal with Samsung as Musk targets next-gen AI chips
Tesla signs $16.5bn deal with Samsung as Musk targets next-gen AI chips

The National

timean hour ago

  • The National

Tesla signs $16.5bn deal with Samsung as Musk targets next-gen AI chips

Tesla has signed a $16.5 billion agreement with Samsung Electronics to source chips in a move expected to boost the South Korean tech giant's loss-making contract manufacturing business. The electric vehicle maker's chief executive Elon Musk confirmed a deal, saying that 'the strategic importance of this is hard to overstate'. The chips will be manufactured at Samsung's upcoming fabrication plant in Taylor, Texas, with the facility likely dedicated to producing the electric vehicle maker's next-generation AI6 chip. Mr Musk added that Tesla would assist Samsung in improving manufacturing efficiency and plans to 'walk the line personally' to accelerate progress at the fab, located near his Texas residence. Samsung had previously announced the deal without naming the client, citing confidentiality. However, three sources confirmed to Reuters that Tesla is the customer. The deal will run through the end of 2033. Samsung shares jumped more than 4 per cent after the news broke, amid hopes the partnership could revive its foundry division, which Reuters reports has posted losses of more than $3.63 billion in the first half of this year. Analysts say Samsung has struggled to keep pace with rivals like TSMC and SK Hynix in producing advanced AI chips, and the Tesla deal could help restore credibility and competitiveness to its semiconductor operations. The agreement also signals a shift in global chip dynamics, as the US works to reduce its reliance on Taiwan and China by investing in domestic semiconductor production. For consumers, the tie-up could accelerate the rollout of smarter, AI-powered Tesla vehicles, potentially with greater onboard computing and autonomy. Economically, the deal strengthens both Tesla's supply chain resilience and Samsung's role in the race to power next-generation AI infrastructure. Wider supply chains For Gulf countries that are investing heavily in semiconductors and artificial intelligence, the move underscores the importance of establishing strategic partnerships within the global chip supply chain. In May, the UAE and US launched the AI Acceleration Partnership, which includes plans for a 5-gigawatt AI campus in Abu Dhabi, known as Stargate UAE. The agreement enables the UAE to obtain advanced CPUs and GPUs from US companies, which are essential for building up domestic AI infrastructure. UAE officials said the deal as part of a trusted strategic partnership. 'The UAE welcomes President Trump's AI Action Plan and is ready to fast-track our strategic AI partnership with the US,' Yousef Al Otaiba, UAE Minister of State and ambassador to the US, said last Wednesday. He added that the UAE is 'working closely with leading US companies to adopt and scale American technology in the UAE and beyond.'

SharpLink buys $295M in ETH — more than all the Ether issued last month
SharpLink buys $295M in ETH — more than all the Ether issued last month

Crypto Insight

timean hour ago

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SharpLink buys $295M in ETH — more than all the Ether issued last month

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