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South Korea’s 2nd largest chipmaker to invest $75B in AI through 2028

South Korea’s semiconductor industry is gearing up for a transformative investment as the country’s second-largest chipmaker plans to allocate a staggering $7.5 billion towards artificial intelligence (AI) initiatives by 2028.

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South Korea’s semiconductor industry is gearing up for a transformative investment as the country’s second-largest chipmaker plans to allocate a staggering $7.5 billion towards artificial intelligence (AI) initiatives by 2028.

The move by the unnamed chipmaker marks a significant commitment to harnessing AI technologies, aiming to bolster its competitive edge in the global semiconductor market. This substantial investment underscores South Korea’s strategic pivot towards AI, reflecting the growing importance of advanced technologies in shaping future industrial landscapes.

With the global demand for semiconductors skyrocketing amid rapid technological advancements, South Korea’s ambitious investment aims to enhance its capabilities in AI development. By leveraging this funding, the chipmaker intends to foster innovation across various AI applications, potentially revolutionizing sectors ranging from consumer electronics to autonomous vehicles.

The decision comes amidst intensifying competition in the semiconductor sector, where nations vie for technological supremacy. South Korea’s strategic move not only seeks to consolidate its position as a leader in chip manufacturing but also aims to propel advancements in AI that could redefine global technological standards.

As the digital era continues to unfold, investments of this magnitude underscore South Korea’s commitment to staying at the forefront of technological innovation. The $7.5 billion AI investment is poised to set a new benchmark in the semiconductor industry, signaling a pivotal moment in South Korea’s quest to shape the future of AI-driven technologies.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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