Good morning. Let’s get into the tech news.
1. $566m for Australian mineral exploration
The 2024-25 Australian Budget will include $566 million in funding for the exploration of Australian minerals, InnovationAus reports. The money will go towards the discovery of critical minerals, such as lithium and cobalt, along with raw materials, to revitalise local manufacturing. “The world needs more of these resources – and our government is going to help Australia find more,” Prime Minister Anthony Albanese said.
2. FTX to pay back creditors
Failed crypto company FTX will pay back $US11 million to creditors – the full amount the company owes – after its collapse in 2022, The Guardian reports. Chief executive John Ray III, who took over from Sam Bankman-Fried, claims that the company now has about $US16 billion, after selling off the company’s remaining assets.
3. Samsung to buy ultrasound startup
Sonio, a startup in France that makes AI-powered software for ultrasound workflows, is being snatched up by Samsung Medison in an acquisition, per TechCrunch. $US92.7 million is going towards the purchase by Samsung’s medical devices unit. “Through the acquisition of Sonio, Samsung Medison will continue to deliver upon our promise to improve the quality of people’s lives with technology,” CEO of Samsung Medison Yong Kwan Kim said.
4. US revokes chip sale licences to Huawei
Huawei will no longer be able to buy chips from Intel and Qualcomm, after the U.S. revoked the licences that allowed the companies to sell to the Chinese tech giant, per Engadget. The change is effective immediately, and is the latest development in the tech trade war between China and the U.S.. “We continuously assess how our controls can best protect our national security and foreign policy interests, taking into consideration a constantly changing threat environment and technological landscape. As part of this process, as we have done in the past, we sometimes revoke export licenses,” the U.S. Department of Commerce said.
5. New Google AI model can see ‘all of life’s molecules’
Google DeepMind’s latest AI model, dubbed AlphaFold 3, is supposedly capable of predicting the structure of proteins, DNA, RNA, and more. It’s hoped that the new model will be able to enhance biological understanding and push the development of drugs. “Scientists can access the majority of its capabilities, for free, through our newly launched AlphaFold Server, an easy-to-use research tool,” Google said.
BONUS ITEM: Cable is back!
In Streaming Milestone, Disney And Warner Bros. Discovery Team On Bundle Featuring Disney+, Hulu And Max https://t.co/SPqlLUFnjC
— Deadline Hollywood (@DEADLINE) May 8, 2024
Have a lovely day.
Image: mundissima (Shutterstock)