Category: Bits & Bytes

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Microsoft’s new $69 billion Activision-Bizzard deal passes UK approval

Call of Duty

Gaming industry’s biggest ever takeover deal

Microsoft’s $69 billion revised offer to buy Call of Duty-maker Activision Blizzard has been approved by UK regulators.

The Competition and Markets Authority (CMA) said the deal addressed its concerns, after the watchdog blocked the original $69bn (£59bn) bid in April 2023. The green light marks the culmination of a near two-year fight to secure the gaming industry’s biggest-ever takeover.

CMA criticised Microsoft’s conduct.

After the competition watchdog blocked the takeover earlier this year, Microsoft’s president hit out at the CMA’s decision which it said was ‘bad for Britain’.

The CMA chief executive reportedly said: ‘Businesses and their advisors should be in no doubt that the tactics employed by Microsoft are no way to engage with the CMA. Microsoft had the chance to restructure during our initial investigation but instead continued to insist on a package of measures that we told them simply wouldn’t work. Dragging out proceedings in this way only wastes time and money’.

The CMA also said the revised deal would ‘preserve competitive prices’ in the gaming industry and provide more choice and better services.

Prior to the approval, the deal, which makes Microsoft the owner of Call of Duty, World of Warcraft, Overwatch and Candy Crush, could not be finalised globally.

Under the restructured transaction, Microsoft will not acquire cloud rights for existing Activision PC and console games, or for new games released by Activision during the next 15 years. Instead, these rights will be divested to Ubisoft Entertainment before Microsoft’s acquisition of Activision, according to the CMA.

Vice Chair and President, Brad Smith seem happy after saying it would be ‘bad for Britain.

‘We’re grateful for the CMA’s thorough review and decision today. We have now crossed the final regulatory hurdle to close this acquisition, which we believe will benefit players and the gaming industry worldwide’.

Go count the money!

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European banks in discussion with cryptocurrency companies

Banks and crypto

Bitstamp

Bitstamp has reportedly disclosed its ongoing discussions with a number of European banks about assisting them in launching cryptocurrency services. These discussions are expected to come to fruition in early 2024.

Bitstamp’s Negotiations with Top European Banks

Bitstamp’s negotiations underscore the growing acceptance of digital assets within the European financial sector.

This news comes at a time when the European Union is actively advancing its regulatory framework for cryptocurrencies, known as Markets in Crypto Assets (MiCA).

It aims at facilitating the entry of traditional financial institutions into the digital asset space.

Cryptocurrency and its slow mainstream adoption

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Cybersecurity

Hack attack!

Cybersecurity is a very important and relevant topic in today’s world. It refers to the practice of protecting systems, networks, and programs from digital attacks that can harm individuals and organizations.

Cyberattacks will all have malicious intent, such as accessing, changing, or destroying sensitive information; extorting money from users via ransomware; or interrupting normal business processes.

Cybersecurity aims to prevent or mitigate these attacks by using various technologies, measures, and practices.

There are many types of cybersecurity, depending on the domain or layer of IT infrastructure that needs to be protected.

Critical infrastructure security

This protects the computer systems, applications, networks, data and digital assets that a society depends on for national security, economic health and public safety. For example, the power grid, the water supply, the transportation system, the health care system, etc. 

In the United States, there are some guidelines and frameworks for IT providers in this area, such as the NIST cybersecurity framework and the CISA guidance.

Network security

This prevents unauthorized access to network resources and detects and stops cyberattacks and network security breaches in progress. For example, firewalls, antivirus software, encryption, VPNs, etc. Network security also ensures that authorized users have secure access to the network resources they need, when they need them.

Application security

This protects applications from cyberattacks by ensuring that they are designed, developed, tested, and maintained with security in mind. For example, code reviews, vulnerability scanning, penetration testing, secure coding practices, etc. Application security also involves educating users about safe and responsible use of applications.

Cyberattacks will all have malicious intent, such as accessing, changing, or destroying sensitive information; extorting money from users via ransomware; or interrupting normal business processes.

There are many more types of cybersecurity, such as cloud security, endpoint security, data security, identity and access management (IAM), etc. Each type of cybersecurity has its own challenges and solutions.

Companies to watch

Cybersecurity companies such as CrowdStrike, Okta, Zscaler and Palo Alto Networks are valuable assets with businesses willing to pay good money to protect against hackers.

Zscaler

Palo Alto Networks

Crowdstrike

Okta

NOTE: Always do your own very careful research – none of these ‘suggestions’ are ‘recommendations’.

Remember: RESEARCH! RESEARCH! RESEARCH!

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Ripple obtains full licence to operate in Singapore

XRP Ripple Digital Coin

XRP

Cryptocurrency company Ripple said on Wednesday 4th October 2023 that it has obtained a full licence to operate in Singapore, its Asia-Pacific headquarters since 2017.

‘We have hired exceptional talent and local leadership, doubling headcount over the past year and plan to continue growing our presence in a progressive jurisdiction like Singapore,‘ CEO Brad Garlinghouse said in a statement.

It comes as Ripple continues to fight with the U.S. Securities and Exchange Commission (SEC) over a lawsuit.

The new development comes less than four months after the Monetary Authority of Singapore granted an ‘initial in-principle’ approval in June 2023. With the full licence, Ripple will continue to provide regulated crypto payment services in Singapore.

Over 90% of Ripple’s business is outside of the U.S., and Singapore – and to a larger degree Asia Pacific – is one of its fastest growing region.

XRP Ripple Crypto digital coin and cross border payment system

The XRP ripple crypto coin is a digital currency that is used to facilitate fast and low-cost cross-border payments on the Ripple network.

The Ripple network is a decentralized system of servers that connects banks, payment providers, digital asset exchanges, and corporates. The XRP coin acts as a bridge currency between different fiat currencies and other digital assets.

The XRP coin has a fixed supply of 100 billion units and is distributed by Ripple Labs, the company behind the Ripple network.

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Einstein was right with his theory about antimatter and gravity

Einstein theory

According to recent news and scientific reports, Einstein was right again about how antimatter responds to gravity.

Antimatter is the opposite of ordinary matter, and it is very rare in the natural universe. Scientists have created antimatter in the laboratory and observed its behaviour under controlled conditions.

Antihydrogen Laser Physics Apparatus (ALPHA)

One of the experiments that tested Einstein’s theory of general relativity was the Antihydrogen Laser Physics Apparatus (ALPHA) at CERN in Switzerland.

The researchers used antihydrogen, which is the antimatter counterpart of hydrogen, the lightest element. They showed that antihydrogen falls downward due to gravity, just like ordinary hydrogen. 

This confirms that matter and antimatter react to gravity in a similar way, as predicted by Einstein more than a hundred years ago.

Thank you Albert.

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Magnificent 7 tech’ stocks haven’t been this cheap since 2017

Magnificent 7 tech stocks

The Magnificent Seven tech stocks

These are the seven largest U.S. listed companies in the technology sector.

Apple, Microsoft, Amazon, Alphabet, Nvidia, Tesla and Meta Platforms. 

According to a report released Monday 2nd October 2023, these tech’ stocks have seen their valuation drop relative to the median stock in the S&P 500, making them more attractive for investors. The report says that the Magnificent 7 trade at 1.3 times their PEG ratio (price-to-earnings-to-long-term growth), versus 1.9 for the median S&P 500 stock. 

This is the cheapest valuation in over six years – time to buy yet?

The report also highlights some positive drivers for these stocks, such as their strong sales growth, their ability to beat expectations, and their resilience to rising interest rates.

However, some analysts also warn that the dominance of these stocks could pose a risk for the broader market if something bad happens to tech’.

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Zuckerberg announces chatbots with ‘personality.’ Wonder where the personality dynamic will come from? Charmed, I’m sure…

Creepy chatbot

Meta has announced a series of new chatbots to be used in its Messenger service.

Charming

The chatbots will have ‘personality’ and specialise in certain subjects, like holidays, and cooking. Let’s hope they haven’t been modelled on the company boss then.

It is the latest attempt in a chatbot ‘chat’ race between tech’ companies desperate to produce more accurate and personalised artificial intelligence. The chatbots are still a work in progress with ‘limitations’, said boss Mark Zuckerberg.

During Meta’s first in-person event since before the pandemic, Mr Zuckerberg said that it had been an ‘amazing year for AI’. The company is calling its main chatbot ‘Meta AI’ and can be used in messaging. For example, users can ask Meta AI questions in chat ‘to settle arguments’ or ask other questions.

It’s been touted as fun entertainment and not just question answering.

I wonder if these AI chatbots will be as good as the Metaverse rollout has been so far?

Zuckerberg’s ‘personality’ chatbots

Zuckerberg’s ‘personality’ chatbots are a new feature of Meta, the company formerly known as Facebook. They are artificial intelligence agents that can chat with users on Messenger, using the faces and voices of celebrities like Snoop Dogg, Kendall Jenner, and Tom Brady.

Chatbots
Chatbots with personality. God help us!

They are supposed to have different personalities and interests, such as sports, cooking, or music. Meta claims that they are for entertainment purposes only, and that they have limitations on what they can answer.

Critical

However, some critics have raised ethical and social concerns about these chatbots. They argue that they are creating “counterfeit people” that could deceive or manipulate users, especially young ones. They also question the consent and privacy of the celebrities whose identities are used by the chatbots. They warn that these chatbots could pose dangers to the authenticity and trustworthiness of online communication.

If you are curious about these chatbots, you can try them out on Messenger by searching for their names. But be aware that they are not real people, and that they may not give you accurate or reliable information. They are just products of Meta’s artificial intelligence technology, which is still a work in progress – a bit like the Metaverse.

Creepy chatbot
Chatbot with creepy personality

All this wonderful AI tech and what do we do? Play games with it!

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Powering the UK from energy generated in Morocco

Energy from Xlinks project

The Xlinks Morocco-UK Power Project is a proposal to create a large-scale renewable energy complex in Morocco and feed the electricity to the UK via a long underwater cable.

Key facts

12 million solar panels, 530 wind turbines over 62 square miles.

  • The project aims to produce 10.5 GW of clean power from solar and wind facilities in Morocco’s Guelmim Oued Noun region. This is equivalent to about 10% of the UK’s electricity demand.
  • The project also plans to build a 20 GWh/5 GW battery storage facility to ensure a stable and reliable supply of electricity.
  • The project will use proven high-voltage direct current (HVDC) interconnector technology to transmit the electricity to the UK via a 3,800 km route under the seabed. The cable will connect to two locations in Devon and Wales, each with a capacity of 1.8 GW.
  • The project will create over 11,000 new green jobs in the UK and Morocco, and contribute to their renewable industrial ambitions. It will also diversify the UK’s energy sources and reduce its dependence on EU interconnectors, LNG imports, and biomass from North America.

This image has an empty alt attribute; its file name is image-1-1024x562.png

  • The project is seeking a 25-year contract with the UK government to guarantee a fixed electricity price and secure financing for the £20 billion investment. 
  • It hopes to start construction in 2024 and deliver power to the UK by 2028.

Entirely powered by sun and wind

The Xlinks Morocco-UK Power Project will be a new electricity generation facility entirely powered by solar and wind energy combined with a battery storage facility. Located in Morocco’s renewable energy rich region of Guelmim Oued Noun, it will be connected exclusively to Great Britain via 3,800km HVDC sub-sea cables.

Zero carbon power generation

When domestic renewable energy generation in the United Kingdom drops due to low winds and short periods of sun, the project will harvest the benefits of long hours of sun in Morocco alongside the consistency of its convection Trade Winds, to provide a firm but flexible source of zero-carbon electricity.

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More than a ‘hot’ new phone – It can double up as a hand warmer too!

Hot new phone

Apple said on Saturday 30th September 2023 that it will issue a software update that would address customer complaints about the latest iPhone 15 models, released just over a week ago, running hot.

The new iPhones were running hot because of a combination of bugs in iOS 17, bugs in apps, and a temporary set-up period that requires extra processing and therefore heat generation, Apple confirmed.

Statement from Apple

‘We have identified a few conditions which can cause iPhone to run warmer than expected. The device may feel warmer during the first few days after setting up or restoring the device because of increased background activity.’

‘We have also found a bug in iOS 17 that is impacting some users and will be addressed in a software update. Another issue involves some recent updates to third-party apps that are causing them to overload the system. We’re working with these app developers on fixes that are in the process of rolling out.‘

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NASA guides Bennu asteroid precious cargo home

Bennu space dust

Alien dust samples from the ‘most dangerous known rock in the Solar System’ have been brought to Earth.

NASA safely landed the probe with the capsule containing the precious space dust in the West Desert of Utah state.

The samples had been collected up from the surface of asteroid Bennu in 2020 by the Osiris-Rex spacecraft.

NASA wants to learn more about the asteroid Bennu, not least because it has an outside chance of colliding with Earth in the next 300 years, but more importantly, the samples are likely to provide fresh insights into the formation of the Solar System 4.6 billion years ago and possibly even how life began here on Earth.

Touchdown was confirmed at 08:52 local time (14:52 GMT), three minutes ahead of schedule.

The container holding the precious cargo screaming into the atmosphere over the U.S. at more than 27000 mph. A heatshield and parachutes slowed its descent and dropped it gently to the ground.

Eager scientists applauded the remarkable achievement and now anticipate their chance to investigate the precious cargo further. Just 300 grams of asteroid dust were returned.

That might not sound like very much, but the scientists have access to exceptional technology that will enable them to analyse ultra small particles at a very high resolution.

Let the discovery begin.

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OpenAI says ChatGPT can now ‘speak,’ listen and process images

ChatGPT

I can see and hear and speak…

OpenAI’s ChatGPT can now ‘see, hear and speak,’ or, at least, understand spoken words, respond with a synthetic voice and process images, the company announced Monday 25th September 2023.

The update to the chatbot OpenAI’s biggest since the introduction of GPT-4, allows users to opt into voice conversations on ChatGPT’s mobile app and choose from five different synthetic voices for the bot to respond with. Users will also be able to share images with ChatGPT and highlight areas of focus or analysis.

Roll out

The changes will be rolling out to paying users in the next two weeks, OpenAI said. ‘While voice functionality will be limited to the iOS and Android apps, the image processing capabilities will be available on all platforms’.

The big feature push comes alongside ever-rising stakes of the artificial intelligence (AI) race among chatbot leaders such as OpenAI, Microsoft, Google and Anthropic. In an effort to encourage consumers to adopt generative AI into their daily lives, tech giants are racing to launch not only new chatbot apps, but also new features. Google has announced updates to its Bard chatbot, and Microsoft added visual search to Bing.

Investment expansion

Earlier this year, Microsoft’s expanded its investment in OpenAI, an additional $10 billion, it made it the biggest AI investment of the year. In April 2023, the startup reportedly structured a $300 million share sale at a valuation of between $27 billion and $29 billion, with investments from firms such as Sequoia Capital and Andreessen Horowitz. 

Concerns

Experts have raised concerns about AI-generated synthetic voices, which in this case could allow users a more natural experience but also enable more convincing deepfakes. Cyber threat investigators and researchers have already begun to explore how deepfakes can be used to penetrate cybersecurity systems.

OpenAI says ChatGPT can now ‘speak,’ listen and process images

OpenAI acknowledged those concerns in its announcement, saying that synthetic voices were ‘created with voice actors we have directly worked with,’ rather than collected from strangers.

The release also provided little information about how OpenAI would use consumer voice inputs, or how the company would secure that data if it were used. OpenAI did not immediately respond to CNBC’s request for comment, and the company’s terms of service say that consumers own their inputs ‘to the extent permitted by applicable law.’

What does ‘ChatGPT’ actually mean?

ChatGPT is an acronym for Chat Generative Pre-trained Transformer. It is a name of an artificial intelligence model that can generate natural language text based on user input.

It was developed by OpenAI, a research organization dedicated to creating and ensuring the safe and beneficial use of artificial intelligence (AI). ChatGPT can be used for various purposes, such as answering questions, having conversations, and producing creative writing.

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Brief history of the internet

Internet

The history of the internet is a fascinating story of how various computer networks around the world were interconnected to form a global system of communication and information exchange.

Timeline in brief

1950’s

The origins of the internet can be traced back to the 1950s, when the Cold War between the U.S. and the Soviet Union created a need for a reliable and resilient communication system that could survive a nuclear attack.

1960’s

The idea of a universal network that could connect different computers and users was developed by J. C. R. Licklider at the U.S. Department of Defence’s Advanced Research Projects Agency (ARPA) in the early 1960s.

Watercolour artwork image of a 1960’s mainframe terminal

The first computer network that used packet switching, a technique that breaks data into small blocks and sends them across different routes, was proposed by Paul Baran at the RAND Corporation in 1964, and independently by Donald Davies at the UK’s National Physical Laboratory (NPL) in 1965.

The first operational packet-switched network was the ARPANET, which was launched by ARPA in 1969 with four nodes at UCLA, Stanford, UCSB, and Utah. The ARPANET was designed to allow researchers to share computing resources and data across long distances.

1970’s

The ARPANET adopted the TCP/IP protocol, which was developed by Bob Kahn and Vint Cerf in the 1970s, and enabled different networks to communicate with each other using a common set of rules. This led to the emergence of the internet as a network of networks.

1980’s

The Domain Name System (DNS), which assigns human-readable names to numerical IP addresses, was introduced in 1983 by Paul Mockapetris and Jon Postel. This made it easier for users to access websites and services on the internet.

The first email service on the internet was developed by Ray Tomlinson in 1971, who also introduced the use of the ‘@’ symbol to separate the user name from the host name. Email became one of the most popular applications of the internet.

Artwork: email

The World Wide Web, which is a system of interlinked documents and multimedia that can be accessed through a web browser, was invented by Tim Berners-Lee at CERN in 1989. Berners-Lee also created the first web server, web browser, and web page.

1990’s and 2000’s

The first graphical web browser that popularized the use of the web was Mosaic, which was developed by Marc Andreessen and his team at NCSA in 1993. Mosaic later evolved into Netscape Navigator, which competed with Microsoft’s Internet Explorer in the browser wars.

The growth of the internet in the 1990s and early 2000s was driven by various factors, such as the development of home computers, broadband connections, search engines, online platforms, ecommerce, social media, and mobile devices.

The internet has revolutionized many aspects of human society, such as communication, education, entertainment, business, politics, culture, and science. 

It has also raised various challenges and issues, such as security, privacy, censorship, digital divide, net neutrality, cybercrime, and cyberwarfare.

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Amazon to invest up to $4 billion in leading edge tech Anthropic

Tech AI led investment

E-commerce conglomerate Amazon announced on Monday 25th September 2023 that it will invest up to $4 billion in artificial intelligence (AI) firm Anthropic, a rival to ChatGPT developer OpenAI, and take a minority ownership position in the company.

The move further enforces Amazon’s aggressive AI push as it aims to keep pace with rivals such as Microsoft and Alphabet’s Google.

The two firms reportedly said that they are forming a strategic collaboration to advance generative AI, with the startup selecting Amazon Web Services as its primary cloud provider.

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Money waiting to go into tech, turn it on

Tech money

Reports suggest as much as $3 trillion is waiting on the sidelines to be invested in tech’.

AI FOMO

The reasoning is that AI is driving a fear of missing out (FOMO). We could very well be experiencing the fourth industrial revolution right now, and it is AI-driven. Strategically, companies can’t just sit around and wait. There’s a window where if they don’t join in or realise the potential and grab the opportunity, they’ll miss out.

IPO’s

Three of the biggest initial public offerings (IPO) in the tech’ sector in nearly two years raised some $6 billion collectively in less than a week. Nvidia has attracted much attention with the AI driven interest it has created recently.

While a handful of tech IPOs and one big acquisition wouldn’t have been much cause for celebration in previous years, they are a welcome return after the drought of pandemic-era hit investment.

The IPO market for tech was effectively shut down until Arm Holdings, Instacart and Klaviyo opened the investors door again. Merger activity such as that driven by Microsoft Corp., OpenAI ChatGPT and Activision Blizzard Inc. is helping to lift up the appetitie for investment again. And it’s pretty much AI induced.

Money ready to go

Some analysts suggest there is $3 trillion sitting on the sidelines ready to invest, mostly held by Big Tech and private equity companies. The fascination with artificial intelligence (AI) and fear of missing out (FOMO) will create massive AI led tech investing opportunities. Everyone will want a slice of this cake.

This could very well be the biggest transformational spending wave that we’ve seen in years and certainly since the internet arrived in 1995.

Just look out for that ‘bubble’ again – it will pop! But much money will be made before that happens and then again after.

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Cathie Wood and Ark Invest company STOCK WATCH

Cathie Wood

Tech’ investor and disruptor

Cathie Wood is an American investor and the founder, CEO and CIO of ARK Invest, an investment management firm that focuses on disruptive innovation. She is known for her bullish views on Tesla, DeepMind, and many other AI companies.

DeepMind and Tesla

Cathie Wood is a fan of DeepMind, an artificial intelligence research lab acquired by Google in 2014 and founded in 2010. She reportedly says it is ‘one of the best AI companies in the world’ and that the ‘AI revolution’ will ‘change everything’.

She also says that Tesla is the ‘biggest AI opportunity in the world’ today. She believes that Tesla has a huge advantage in data collection and innovation, and that it has just started its growth potential.

Additionally, Cathie Wood has been betting on other AI stocks, such as C3.ai, UiPath, Exact Sciences, and Upstart. She thinks these companies have strong prospects in various fields, such as cloud computing, automation, healthcare, and lending.

British-American AI DeepMind

DeepMind is a British-American artificial intelligence research lab that is a subsidiary of Google. It was founded in 2010 and acquired by Google in 2014. DeepMind is known for creating neural network models that can learn how to play video games, solve complex problems, and mimic human intelligence. Some of its famous products are AlphaGo, AlphaZero, AlphaFold, and Flamingo.

DeepMind

Mission

DeepMind’s mission is to ‘solve intelligence and use it to make the world a better place‘.  It has been involved in various fields, such as healthcare, climate change, computer systems, and board games. 

DeepMind also collaborates with Google Cloud to enhance its solutions for customers

NOTE: Always do your own research!

RESEARCH! RESEARCH! RESEARCH!

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Spacecraft to return from asteroid mission with precious cargo

Osiris-Rex Space Craft Artwork

NASA mission

Osiris-Rex is a NASA mission that aims to collect and return a sample from asteroid Bennu, which is believed to be a remnant of the early solar system. The mission hopes to learn more about the origins of life on Earth and the potential for asteroid mining in the future.

Osiris-Rex stands for Origins, Spectral Interpretation, Resource Identification, Security-Regolith Explorer. The spacecraft launched in 2016 and arrived at Bennu in 2018. It spent two years mapping and studying the asteroid before successfully collecting a sample of about 300 grams (10.6 ounces) of dust and rocks in October 2020.

Asteroid Bennu

Capsule

The sample capsule is now on its way back to Earth and is expected to land in Utah on September 24, 2023. Scientists are eager to analyze the material and look for clues about how the solar system formed and how organic molecules that are essential for life were delivered to Earth.

Osiris-Rex is also planning an extended mission to visit another near-Earth asteroid called Apophis in 2029. Apophis is considered a potentially hazardous asteroid because it has a small chance of hitting Earth in the future. Osiris-Rex will observe and measure Apophis to improve our understanding of its orbit and characteristics.

Nasa’s Osiris-Rex capsule will come screaming into Earth’s atmosphere on Sunday 24th September 2023 at more than 15 times the speed of a bullet.

It will make a fireball in the sky but a heat shield will protect the craft. Parachutes will then deploy to slow the descent and bring it to a gentle touchdown in Utah’s West Desert.

Bringing with it a special space cargo that may help the human race discover the origin of life.

Sampling an Asteroid

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TikTok’s algorithm is failing to provide a safe and positive experience for its users and for society

TikTok app

TikTok is a popular social media app that allows users to create and share short videos. But, it has faced some controversies regarding its algorithm, design, and data protection.

Tiktok has issues

The company was fined $368 million in Europe for failing to protect children’s data. The Irish Data Protection Commission, which oversees TikTok’s activities in the European Union, said that the company had violated the bloc’s signature privacy law. 

An investigation by the DPC found that in the latter half of 2020, TikTok’s default settings didn’t do enough to protect children’s accounts.

Anti-social app

TikTok drove online ultra online ‘frenzies’ that encouraged anti-social behaviour to spill over into the real world, a BBC Three investigation revealed.

Ex-employees said that the issue was not being tackled for fear of slowing the growth of the app’s business. These ‘frenzies’ were evidenced by interviews with former staffers, app users and BBC analysis of wider social media data. They included false murder accusations, interference in police investigations, school vandalism, and riots.

TikTok’s algorithm is reportedly failing to provide a safe and positive experience for its users and for society

Anti-social algorithm

The algorithm and design means people are seeing videos which they wouldn’t normally be recommended – which, in turn, incentivise them to do unusual things in their own videos on the platform. 

Former employees likened these frenzies to ‘wildfires’ and described them as ‘dangerous’, especially as the app’s audience can be young and impressionable.

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ATM cash deposits go missing at NatWest

ATM

NatWest customers reported money missing from their accounts after making a cash deposit. The bank has said an issue with its cash deposit machines has been now resolved

Customers shared their concerns on social media on Thursday 21st September 2023 that recently-deposited cash was not showing up in their account balance.

Early on Friday 22nd September 2023, NatWest said the issue had been resolved and that no-one would be left out of pocket.

Some customers had reported going overdrawn because of the issue and expressed concern they would be charged fees.

In a statement, NatWest said, ‘Cash payments to a small number of accounts have been delayed and the issue is now resolved and customer accounts are being updated’.

It is unclear how many people were affected by the issue.

It is also unclear why this happened.

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Is $10000 possible for XRP price? INVEST WATCH

XRP Ripple

The possibilities of how high the XRP price can go has triggered heated debate among crypto community members over the past week. One particular forecast put the price of the cryptocurrency as high as $10,000 as Ripple advances in the payments sector. However, the validity of this prediction is still heavily debated, leading crypto analysts to weigh in on whether this price point is even possible.

Why The Sudden Bullishness On XRP Price?

Indicators and investors alike turned bullish for the XRP price following Ripple’s partial victory over the United States Securities and Exchange Commission (SEC) in July 2023. The price of the coin had risen over 60% in the days following the ruling as interest soared.

The token’s rally has since slowed down since then, wiping the majority of its gains from the ruling. However, crypto analysts remain bullish. One analyst put the XRP price at $130, while another analyst sees it going as high as $500.

Investors like the coin

XRP’s trading volumes, which have been nearly consistent above $1 billion, also show that investors are heavily attached to the coin. This sustained bullishness is further fueled by Ripple’s exploits in the payments sector, as well as working with various countries on their Central Bank Digital Currencies (CBDCs).

Other sources are more conservative and estimate that XRP price could range from $0.50 to $2.18 by the end of 2023, depending on the outcome of the SEC lawsuit, the development of the Ripple protocol, and the market conditions. Some sources also provide long-term predictions for XRP price based on historical trends. 

For example, one source suggests that XRP could reach $14.21 by 2040 and $106.14 by 2050 if it follows Bitcoin’s growth trajectory over the past five years.

What is XRP?

XRP is a cryptocurrency that powers the Ripple network, which is a decentralized platform for cross-border payments. XRP aims to provide fast, cheap, and secure transactions for individuals and institutions around the world.

XRP price predictions are based on various factors, such as the demand and supply of XRP, the adoption and innovation of the Ripple protocol, the regulatory environment, the competition from other cryptocurrencies, and the overall market sentiment.

$10 – $100 range?

Is $10000 possible for XRP price?

According to some sources, XRP price could reach as high as $100-$500 in the next four to seven months, based on the recent ruling that XRP is not a security and the potential growth of Ripple’s partnerships in the payments space. However, this is a very optimistic scenario that assumes a high level of adoption and innovation of the Ripple network.

This is NOT investment advice

However, these predictions are not investment advice and should be taken with a ‘pinch of salt’. The cryptocurrency market is very volatile and unpredictable, and XRP price could be influenced by many factors that are beyond anyone’s control. Therefore, it is advisable to do your own research and analysis before making any financial decisions involving XRP or any other cryptocurrency or any investment.

NOTE: These are not recommendations. Investments may go up or down. Your money is at risk!

This is not advice! Always do your own research!

RESEARCH! RESEARCH! RESEARCH!

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AI pumped technology can surpass human intelligence ‘big time’ – according to SoftBank’s CEO

Arm AI chip

Masayoshi Son says AI to surpass human intelligence and that SoftBank will ‘rule the world’. Oh dear…!

Main points in brief

  • Masayoshi Son reportedly said AI is capable of helping solve the world’s biggest problems and could potentially surpass the intelligence of humans.
  • He said he was a ‘big believer’ in AI and that Arm, a chip design company owned by Softbank, was a ‘core’ beneficiary of the AI revolution.
  • He said AI would supercharge human ability and that Softbank would ‘rule the world’ and win the latest generative-AI race thanks to its heavy investment in startups and its majority stake in Arm.
  • He also acknowledged that AI posed some threats to humanity if mishandled and that society should regulate it to protect humankind.

Masayoshi Son and SoftBank

The 66-year-old founded SoftBank, which still controls about 90% of Arm Holdings after the IPO, back in 1981 after graduating from the University of California, Berkeley. Forbes estimates his net worth at more than $24 billion, making him the world’s 69th richest person.

Son made his early reputation as an investor in Japan’s mobile phone industry, and went on to become one of the first backers of Yahoo as well as Alibaba. Son continues to serve as the chairman of Arm’s board of directors.

AI does pose some threats to humanity if mishandled, Son said, likening its potential misuse to the dangers of speeding, or drinking alcohol while driving a car. But, more positively, AI can also help solve key world problems like diseases or help mitigate or recover from natural disasters, he reportedly said.

‘AI, society should regulate to protect humankind’, Son said. ‘However, it has more merit than the demerits. So, I think I’m a believer. I’m optimistic that AI is going to solve the issues that mankind couldn’t solve in the past‘.

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NASA ‘UFO’ or Unidentified Anomalous Phenomena (UAP) report

UFO

Unidentified Anomalous Phenomena (UAP)

NASA has recently released a report on Unidentified Anomalous Phenomena (UAP), which is another term for UFOs. The report is based on a yearlong study of hundreds of UAP sightings by scientists and data experts. 

In brief

NASA found no evidence that aliens are behind the UAPs, but it also could not rule out the possibility. The report said that some of the objects must have travelled through our solar system to get here.

NASA said that the study of UAPs will require new scientific techniques, including advanced satellites and artificial intelligence. The agency also announced a new director of UAP research to establish a robust database and analysis process.

NASA said that UAPs are important for national security and air safety, as some of them pose potential threats to aircraft and military operations. The agency also said that it will share data and findings with more transparency and collaboration.

NASA said that many UAP sightings can be explained by natural phenomena, human-made objects, or sensor errors, but some remain unexplained and anomalous. The report estimated that only about 2% to 5% of the total database are thought to be truly anomalous.

‘Take me to your leader…’

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Arm juggernaut of an IPO

Arm Holdings

Ultra successful IPO for arm

Investors gobbled up UK microchip designer Arm Holdings at its U.S. debut on the Nasdaq on 14th September 2023, sending its market value soaring to $60 billion (£48.3 billion).

The shares ended the day worth more than $63 each, after climbing by almost 25% from the high end start of $51 per share set by Arm.

The sale was the biggest initial public offering of the year, raising $4.87 billion for owner Softbank Group.

Despite some concerns surrounding the company’s exposure to risks in China and a potential AI slowdown – the shares soared.

British tech

A star of the British technology industry, Arm designs microchips for devices including smartphones and game consoles. It estimates that some 70% of the world’s population uses products that rely on its chips, including nearly all of the world’s smartphones. And with AI nestling in on the horizon, the future potential for Arm is massive.

Arm stock chart 14th September 2023

Arm said it expects the total market for its chip designs to be worth about $250 billion by 2025, including new growth areas such as data centres and cars.

Legacy

Many of Arm’s royalties come from products released decades ago. About half of the company’s royalty revenue of $1.68 billion in 2022, came from products released between 1990 and 2012.

Bright Future

The future looks bright for Arm but the company is trading at more than 25 times its most recent full year of revenue, and at more than 100 times profit.

And that could be where things get tricky for Arm in the not too distant future. Projections for future profits will be interesting, esecially if it’s to keep up with Nvidia for instance.

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New Arm IPO substantially over subscribed

Arm AI chip

Oversubscribed

The upcoming IPO of Arm Holdings, the British chip designer that is owned by SoftBank Group is already oversubscribed by more than 10 times. Bankers plan to stop taking orders by the afternoon of 12th Deptember 2023.

This means that there is a massive demand for the shares and the company may raise more money than expected. The IPO could end up as much as 15 times oversubscribed by Wednesday 13th September 2023, which would indicate a very high valuation for Arm.

High end valuation $55 billion

Arm filed for its IPO at $47 to $51 a share, which could value the company at $54.5 billion at the high end of the range. However, Arm is still reportedly considering raising the price range of its IPO. This could easily make Arm one of the most valuable tech companies in the world.

ARM IPO
ARM IPO over subscribed September 2023

Arm is a key part of the chip supply chain, designing semiconductors found in most of the world’s smartphones, as well as other devices and applications. 

Arm is poised to become a bigger and more profitable business, as it shifts to high-margin chips and benefits from the boom in cloud computing and artificial intelligence (AI). 

Arm’s CEO Rene Haas has been pitching investors on this pivot and the growth prospects of the company.

What a success story.