BusinessTechnology

AWS Faces Startup Spending Shift as AI Startups Delay Cloud Adoption, Internal Documents Reveal

Amazon Web Services is confronting a fundamental shift in startup spending patterns as companies prioritize AI model providers over traditional cloud services. Internal documents reveal startups are delaying AWS adoption while directing budgets toward GPU training, inference, and AI developer tools.

Startups Rethink Cloud Spending Priorities

According to internal documents obtained by Business Insider, Amazon Web Services has identified what employees describe as a “fundamental” shift in how startups allocate their technology budgets. Sources indicate that instead of making AWS their first major cloud expenditure, founders are increasingly delaying adoption of Amazon’s services while diverting spending toward AI models, inference, and AI developer tools.

GamingTechnology

NetEase’s Sword of Justice MMO Launches November 7 with AI NPCs and Path Tracing

Sword of Justice, a new free-to-play open world MMO from NetEase’s ZhuRong Studio, launches globally on November 7. The game features an AI Metaverse of intelligent NPCs and advanced path tracing technology while maintaining low system requirements.

Global Launch Announcement

ZhuRong Studio, an internal development team of NetEase, has announced that the global launch of their open world MMO Sword of Justice is scheduled for November 7, according to reports. The game will be available on PC via Steam, Android, and iOS platforms, marking a significant cross-platform release in the gaming industry.

EnergyPolicy

UK Government Held 500 Fossil Fuel Lobbyist Meetings in First Year, Analysis Reveals

New analysis reveals UK government ministers conducted over 500 meetings with fossil fuel lobbyists during their first year in power. Critics warn this level of access gives polluting industries a “backstage pass” to decision-makers during critical energy transition discussions.

Fossil Fuel Industry Access to Ministers Doubles Under New Government

According to recent analysis, UK government ministers met with fossil fuel industry representatives more than 500 times during their first year in power – equivalent to approximately two meetings every working day. The research indicates this represents a significant increase in access compared to previous administrations.

AITechnology

Apple AI Search Lead Departs for Meta in Latest Talent Blow to Siri Overhaul

Apple’s artificial intelligence division has lost its recently appointed AKI group leader Ke Yang to Meta, according to Bloomberg reports. The departure marks the latest in a series of senior exits from Apple’s AI teams as the company races to overhaul Siri capabilities.

Apple’s AI Search Leadership Shakeup

Apple’s artificial intelligence division has experienced another significant leadership change with the departure of Ke Yang, who was recently appointed to lead the company’s AI-driven web search initiative, according to reports from Bloomberg’s Mark Gurman. Yang has reportedly joined Meta Platforms, marking the latest in a series of senior executive exits from Apple Inc.‘s artificial intelligence teams.

BusinessFinance

Top Hedge Fund Traders Capture 25% of Profits Amid Talent War, Goldman Report Reveals

Elite traders at leading hedge funds are reportedly securing nearly a quarter of the profits they generate for investors. According to Goldman Sachs analysis, compensation at top firms has reached unprecedented levels, with multi-manager platforms driving industry transformation.

Hedge Fund Compensation Reaches Record Highs

Top traders at major hedge funds are reportedly taking home almost 25% of the profits they generate for investors, according to a recent analysis from Goldman Sachs. The investment bank’s report indicates that multi-manager platforms including Citadel and Millennium have extended their dominance across the industry, creating intense competition for top trading talent.

EnergyPolicy

South Africa’s Cabinet Approves R2.23-Trillion IRP 2025 Energy Plan, Minister to Brief Public

Cabinet has approved the new Integrated Resource Plan for electricity, referred to as IRP 2025, which outlines a R2.23-trillion investment in South Africa’s energy future. Electricity and Energy Minister Dr Kgosientsho Ramokgopa will provide a detailed briefing on the plan on October 19, with the full policy to be published in the Government Gazette.

Major Energy Policy Shift Approved

South Africa’s Cabinet has approved the new Integrated Resource Plan for electricity, which is being referred to as ‘IRP 2025’, according to official statements. The plan represents what sources indicate is a significant update to the country’s energy policy framework, focusing on both immediate capacity constraints and long-term sustainability goals.

AIBusiness

Former Meta Exec Nick Clegg Warns of “Pretty High” Chance of AI Market Correction

Former Meta executive Nick Clegg has warned that the artificial intelligence sector faces a “pretty high” chance of market correction. The former UK deputy prime minister cited “unbelievable, crazy valuations” and daily deal-making sprees as concerning indicators in the rapidly expanding industry.

AI Market Correction Risk “Pretty High” Says Former Meta Executive

Former Meta executive and British politician Nick Clegg has warned that the artificial intelligence sector faces a significant risk of market correction, according to his recent comments to CNBC. The former deputy prime minister of the United Kingdom stated that the likelihood of such an event is “pretty high” given current market conditions.

BusinessEconomy

Nestle Announces Major Workforce Reduction as New CEO Accelerates Turnaround Strategy

Food giant Nestle will eliminate approximately 16,000 positions globally as part of an accelerated turnaround strategy under new leadership. The cuts come despite the company reporting better-than-expected organic growth of 4.3% in the third quarter, with the restructuring aiming to improve operational efficiency.

Major Workforce Reduction Announced

Nestle will cut approximately 16,000 jobs worldwide, representing about 6% of its global workforce, as new CEO Philipp Navratil accelerates the company’s turnaround efforts, according to reports released Thursday. The consumer goods giant stated that 12,000 white-collar positions will be eliminated immediately, with an additional 4,000 roles to be reduced over the next two years.

Economy

UK Economy Grows 0.1% in August as Growth Momentum Slows

The UK economy grew by a modest 0.1% in August, according to official data, matching economist expectations. The Office for National Statistics revised July’s figures downward to show a 0.1% contraction, indicating slowing economic momentum.

UK Economic Growth Slows to 0.1% in August

The British economy expanded by a modest 0.1% in August, according to the latest figures from the Office for National Statistics. The lackluster growth figure matched expectations from economists polled by Reuters, who had anticipated month-on-month growth of 0.1%.