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Nvidia, the world leader in artificial intelligence chips, is facing dangerous new competition. ByteDance, the company that owns the world-famous TikTok app, is speeding up production of its own chips, hoping to mass produce them by 2026. It is currently developing an advanced 5-nanometer artificial intelligence chip with U.S. firm Broadcom, and even TSMC (Taiwan Semiconductor Manufacturing Corp.), which also serves Nvidia, is expected to start working with ByteDance and Broadcom’s project as well.

According to Reuters, the chip will not violate existing US chip export restrictions. However, it is unclear exactly when the chip will begin production at TSMC, as it is currently in the design phase and production is not expected to begin this year.

This year, ByteDance purchased over 200,000 chips from Nvidia, crying over $2 billion. They now intend to produce, in conjunction with TSMC, several hundred thousand prototype chips that are expected to be much cheaper than the US chips.

In the US, ByteDance has been the subject of great concern from some US regulators who believe its status as a China-based company poses a national security threat to Americans who use its TikTok video app. In April, U.S. President Biden signed a bill that could ban TikTok as early as next year if TikTok does not sever its ties with ByteDance and China.

China has also introduced some bans and changes of its own. The country has reportedly decided to phase out the use of US Intel and AMD chips in its government computers and telecommunications networks. Last year, China also banned chips from the US firm Micron, saying they posed a risk to national security.

Technology leaders take the stage at Tech of Tomorrow on September 26, at the Inter Expo Center from 13:30. leading companies, industry experts, and guests will learn how they can change their business and create new opportunities.

The event, organized by Investor.bg, will, for the seventh consecutive year, provide a platform for the next generation of business and urban development innovations ready to make our work and lives significantly easier. In the dedicated half-day event, participants will be current and former managers and CEOs of leading innovative companies, with successful examples of how innovation continues to change businesses and create new opportunities. Finally, participants will share their views on the global footprint of technology on business, the city, and our everyday lives.

Among the participants are Martin Giswein – professor and member of the University of Vienna, Atanas Raykov – Vice President of Global Marketing and Growth at Rakuten Viber, Rüdiger Frickenschmid – Head of AI Division Europe at Fujitsu, Spas Ivanov – Managing Partner at Baseline CyberSecurity and many more prominent experts in the field of innovation and the developing world stand out.

The event will present 4 panels on the topics:

• AI
• Fintech & Cybersecurity
• Digital Trust & Security
• Tech in Automotive

Tech of Tomorrow is organized with the support of Devin, LATE CAFÉ & ROASTERY, Vinopoly, White Bite Catering, J Point Group, and DiKa. Partners are the Bulgarian Startup Association (BESCO), Bulgarian Fintech Association, and Sofia Tech Park.

The event is suitable for managers of companies in different industries – retail, education, data and security, manufacturing, transport and logistics, IT, pharma, HR and workspace, automotive, etc., as well as for ordinary people with interests or knowledge in these areas who are free on 26.09.2024 and who are ready to join an exciting conference.

A link for registration and the program can be found here:

Tech of tomorrow

BlackRock, the world’s largest asset manager, has pointed to the energy sector as one of its best growth opportunities. In this regard, they are ready to take a new step towards integrating artificial intelligence into our lives. Together with tech giant Microsoft, they are launching a fund to build an AI structure that will finance projects to build data centers, energy projects, campaigns, and technology developments to meet the growing demands arising from the development of artificial intelligence. The partnership between BlackRock, which will operate through its new infrastructure investment unit Global Infrastructure Partners, and Microsoft will be one of the largest partnerships in Wall Street’s history and will be valued at $30bn.

MGX, the Abu Dhabi-backed AI investing platform, will also be a general sponsor in the project to meet the country’s needs for innovation and development in the AI sphere. Nvidia, on the other hand, will advise on the design and integration of the ventures.

AI computing power requires much more energy than previous technological innovations and thus puts a strain on the existing energy infrastructure, to this end the investment vehicle is aimed at addressing the huge electrical and digital infrastructure needs associated with building AI products, which are expected to face severe capacity constraints in the future.

The Global AI Investment Partnership aims to raise up to USD 30 billion through equity investments. These funds will be used to secure an additional USD 70 billion in debt financing.