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Trump’s Sovereign Wealth Fund Sparks Crypto Buzz

Google Embraces AI for Security Use and AI Demand Fuels Keppel’s Growth

CRYPTO
Trump’s Sovereign Wealth Fund Sparks Crypto Buzz

President Donald Trump signed an executive order to establish the first U.S. sovereign wealth fund, a move that has excited crypto advocates who believe it could lead to government investments in digital assets. Treasury Secretary Scott Bessent announced the fund will be created within 12 months, fueling speculation that Bitcoin might be included. Following the news, Bitcoin surged to nearly $100,000.

Sovereign wealth funds are government-owned investment vehicles used to generate profits through diverse assets like real estate, stocks, and bonds. While Trump didn’t explicitly mention crypto, Sen. Cynthia Lummis hinted at Bitcoin’s potential involvement, calling it a “₿ig deal” on X.

Other nations, such as Norway, Singapore, and the UAE, have already allocated sovereign wealth funds to Bitcoin. Some experts see this as a strategic move, while critics argue it contradicts crypto’s libertarian ethos and poses significant financial risks due to the volatility of digital assets.

TECH
Google Embraces AI for Security Use

Google has removed a previous commitment to avoid AI applications for weapons and surveillance, as reflected in its updated AI Principles. The prior version stated Google would not develop technologies primarily designed to cause harm or violate international surveillance norms. These statements no longer appear in its AI Principles.

The update aligns with Google’s broader AI ambitions, including expanding services to governments. CEO of DeepMind, Demis Hassabis, emphasized the importance of democratic nations leading AI development, citing values like freedom and human rights. The shift comes amid growing U.S.-China AI competition.

Previously, Google employees protested AI contracts, such as Project Maven and Project Nimbus, citing ethical concerns. Google’s leadership, however, has actively pursued federal contracts despite internal pushback.

The company now states AI development will proceed where benefits outweigh risks. This change reflects Silicon Valley’s increasing focus on AI dominance, national security, and global geopolitical dynamics.

TECH
AI Demand Fuels Keppel’s Growth

Singapore-based asset manager Keppel saw profits rise in 2024, driven by the AI boom and increased demand for data centers. The company reported a net profit of 1.06 billion Singapore dollars ($783.7 million), a 5% increase from 2023. Its connectivity segment, which includes data centers, surged 45% to 184 million Singapore dollars ($136 million), making up 17% of annual profits.

Originally a shipyard in 1968, Keppel has transformed into a global asset manager with interests in infrastructure, real estate, and connectivity. CEO Loh Chin Hua highlighted 2024 as the company’s first year in its new strategic direction.

Data centers remain Keppel’s fastest-growing segment as businesses seek more computing power for AI. The firm operates 35 data centers worldwide and recently secured U.S. approval for a 20,000-kilometer subsea cable linking Singapore to North America. Keppel is also expanding its subsea cable network across Southeast Asia to support increasing digital demands.

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