Cryptopolitan

Dell Technologies (DELL) shares fell 11.6% on Wednesday to close at $507.93 after Barclays downgraded the stock, with a warning that enterprise AI spending may not be enough to sustain an increase in the sales of servers.
Barclays downgraded Dell from Overweight to Equal Weight and lowered its price target from $603 to $574. Analysts cited valuation concerns after the stock surged more than 300% in 2026, warning that growth could slow as memory prices normalize.
High memory-chip prices have helped hardware makers charge more for servers, but that advantage could fade as costs ease.
Barclays also downgraded Hewlett Packard Enterprise (HPE) and NetApp to Hold-equivalent ratings, citing the same concerns over growth and valuation.
A sector-wide drop, Dell is not alone
The technology sector as a whole saw a drop of over 3% on October 14, pulling Oracle and Nvidia lower, according to GuruFocus. Oracle dropped 9%, bringing its losses for the year to 33%.
Neocloud provider CoreWeave plunged 15%, wiping out its gains for 2026, while Nebius also fell. Together, these AI-linked companies lost an estimated $80 billion in market value.
A September inflation reading that was way hotter than expected revived fears of higher borrowing costs, pushing one CoreWeave bond yield toward 15%. Since most of the AI expansion is funded by debt, rising rates are a direct threat to the companies financing it.
Memory stocks also saw some selling pressure, with Micron down 11% for the week and South Korea’s SK Hynix falling 13% in US trading after China’s ChangXin Memory Technologies reported progress on a new chip design.
Dell bulls point to recent numbers
Dell reported a record $95 billion AI server backlog as infrastructure revenue jumped 89% year over year in its latest quarter. The company expects AI server revenue to triple to $75 billion in fiscal 2027, with a potential increase to $100 billion by fiscal 2028.
Michael Dell expects demand for AI infrastructure to outpace supply from now till 2030, although he has acknowledged uncertainty over how quickly chipmakers can expand capacity.
Despite the downgrade, Wall Street remains broadly bullish on Dell, with analysts holding a consensus Moderate Buy rating and an average price target of around $598.
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OpenAI told a California federal court it may file counterclaims against Apple. It alleges a former employee who returned to Apple moved more than 100 confidential files about an unreleased OpenAI device to his personal accounts.
The disclosure, filed October 14, comes amid a trade-secrets battle Apple itself initiated in July.
Some transfers ran just past midnight in Singapore on June 2
In Apple Inc. v. Liu, OpenAI asked US District Judge Edward Davila to permit it to raise the new claims at the October 14 case management conference. A supplement to the parties’ joint case management statement from October 1 says the transfers were discovered in a forensic review related to the lawsuit.
The employee came to OpenAI from Apple, stayed for six months then went back to Apple. The supplement says OpenAI wants to investigate and “if necessary, file and pursue counterclaims arising out of that conduct.”
OpenAI said the transfers included detailed images of at least one device under development. The batch contained engineering and manufacturing data, supplier information, project files, cosmetic-finish standards and reports on coating and sealing hardware parts.
Some files were moved not long after midnight Singapore time on June 2, 2026. The employee’s last day at the company was June 2, OpenAI said.
OpenAI’s supplement to the October 1, 2026 joint case management statement in Apple Inc. v. Liu, filed October 14, 2026 and published on CourtListener.
OpenAI also claims the same person briefed Apple’s senior leadership on OpenAI’s product plans, including Apple’s vice president of operations in Asia. The filing says the presentation “appears to have happened months ago.”
“And now, armed with that information, Apple is making a new push into AI-enabled products,” OpenAI wrote. The filing points to Apple’s new line of smart-home products, the Home Collection, and the company’s HomeView product.
OpenAI said it raised the issue directly with Apple. The filing said Apple has not given assurances that it neither holds nor has used OpenAI’s confidential material.
Cupertino says its own review found no evidence
Apple denied the account. The company said it found nothing to substantiate OpenAI’s claims and that it has policies to stop new employees from using confidential information from their old employers.
Apple’s July 10 complaint alleges ex-employees carried its trade secrets to OpenAI.
Apple cited what it called “shocking evidence” in August, drawn from a forensic check of a laptop an OpenAI-bound engineer had used. On October 13, Davila granted part of Apple’s request for expedited discovery and ordered depositions of Liu, Tan and Alyssa Peng.
The suit names two former Apple employees. OpenAI said Chang Liu left Apple on January 22, 2026, while design executive Tang Tan had been at Apple for more than 24 years.
Apple says more than 400 of its ex-employees are now working for OpenAI. The complaint also alleges that OpenAI used internal Apple code names to mine confidential information from job candidates.
OpenAI called the suit “careless, aggressive and oddly personal” in a post on August 3. It said Apple’s lawyers once emailed the wrong person by mixing up two surnames.
OpenAI then filed a motion to dismiss, framing the case as cover for Apple’s difficulty retaining engineers and getting AI out the door. Apple has sought a preliminary injunction to preclude OpenAI from using the disputed material during the case.
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According to the Beige Book released by the Federal Reserve on October 14, the use of AI by companies has led to a decrease in hiring in five districts. Some companies have reduced their staff purely due to employee turnover and others have chosen to put a hold on hiring or had fewer job openings.
However, employment numbers have hardly change across the country. The worry, therefore, isn’t about massive job cuts, but about growth occurring with fewer job openings.
What the Beige Book flagged
Just because companies are experiencing a slowdown with hiring doesn’t mean they are laying people off. Some companies may let positions go unfilled or postpone hiring altogether as employees are able to take on more tasks with the help of AI. But then again, the report from the Federal Reserve does not prove that AI is to blame for the loss of jobs throughout the country.
The differences between September and now are significant. According to Cryptopolitan, AI-based data center demand has aided construction works. As one contact from the Chicago Fed noted: “without data centers, construction would be in a recession.”
AI is now causing changes in employment in different ways. Investments in infrastructure are boosting demand for workers, while increasing productivity is allowing other enterprises to grow without hiring as many people as possible.
A 41-country look at junior roles
Researchers from Stanford, Bharat Chandar and Bouke Klein Teeselink, examined 1.25 billion job advertisements and 154 million employment records from 41 countries to identify companies that use AI by means of job postings.
Their findings indicate that there has been a transition in the composition of the workforce, rather than mass redundancies. Junior employees make up a smaller percentage of the workforce at foreign subsidiaries of AI-using companies. However, it is worth mentioning that companies employed more senior employees instead of cutting junior jobs. Overall, employment as well as productivity gained is not substantial.
The evidence cuts both ways
The indications of job loss arising due to AI seem to be mixed. According to Stanford SIEPR, there has been an increase in the rate of unemployment by 0.77 percentage points in the most affected market due to AI since 2022, which is also slightly lower than the observed increase of 0.85 points for the least affected job market. As per the survey, the rate of unemployment among fresh graduates is quite high at 5.6% in the beginning of 2026, which reflects an increase of 1.6 points.
In an interview with Axios, Anthropic CEO Dario Amodei predicted an even worse outcome by stating that AI could reduce 50% of the jobs among entry level white-collar employees, potentially creating a situation where:
“20% of people don’t have jobs.”
Currently, the evidence does not confirm this situation. A March Fed study found that there was no decrease in job postings due to the use of AI. In addition, a Ramp study of 21,559 companies concluded that big spenders on AI have increased their number of employees by 10.2% over the past two years. Companies that spend a lot on AI saw an increase in entry-level employment of 12%. On the other hand, firms with low AI usage showed little change.
AI Jobs Impact 2026: Fed, Stanford, Ramp and SIEPR Employment Findings Compared
A divided workforce in PwC’s survey
According to the findings of a survey conducted by PwC involving almost 50,000 workers, different groups of employees are enjoying the benefits of AI in different ways. In particular, 64% of respondents indicated that they have used AI at work while only 14% were regarded as “front-runners.” Moreover, 56% of respondents were categorized as “engine room” employees with limited exposure to AI tools and training.
The disparity in access to AI tools and training may widen the divide among employees since companies will put more emphasis on the ability to use AI. According to PwC’s AI Jobs Barometer published in 2026, jobs that require AI will pay up to 62% more than the average wage. On the other hand, OECD study shows that the skill needed for jobs are changing instead of simply eliminating jobs. Those who are not exposed to training will struggle to keep up.
The investment-return question
Investment in artificial intelligence is not slowing down. According to Gartner, AI investments are expected to hit $2.67 trillion in 2026, representing a 49.5% growth increase compared to the 2025 forecast figure. An additional rise in investments of up to $3.64 trillion will be reached in 2027. Investment amounts include AI infrastructure, software, services, and other related technologies.
Global AI Spending to Reach $3.64 Trillion in 2027 as Hiring Concerns Grow
However, investing more is not necessarily a way to achieve higher returns. According to the IMF, disappointing returns from investments in AI could dampen the value of assets and have an unsettling effect on the global financial markets.
There is another worry laid out in the Beige Book. If companies become more efficient by making better use of their resources rather than by employing more labor, will the efficiency yield enough monetary benefits? For global investors, the importance of this question lies in whether or not the current AI boom will bring about stable growth.
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Iowa Attorney General Brenna Bird asked a state court Wednesday to block OpenAI from continuing to test advanced AI models until third-party monitors can verify the tests are safe.
The request is part of a lawsuit Iowa filed under the state’s Consumer Fraud Act against the maker of ChatGPT.
Bird seeks up to $40,000 per Consumer Fraud Act violation
The petition filed in Iowa District Court for Polk County names eight OpenAI entities as defendants. It asks the court to freeze the testing “until adequate safeguards are implemented to ensure that the tests do not pose a danger to the public and until third-party monitors have verified the same.”
Iowa also wants all Iowans’ pre-judgment data deleted and destroyed by OpenAI. The penalty sought is up to $40,000 for each violation of the Consumer Fraud Act and an additional penalty of up to $5,000 for each violation against an older person.
The petition would preclude OpenAI from collecting and selling Iowans’ personal data without age verification and express, informed consent. It also seeks refunds for customers in Iowa, disgorgement of gross receipts and any additional safety measures the court deems necessary.
Prayer for relief items C through I in Iowa’s Polk County petition against OpenAI, filed October 14, 2026.
Kris Kobach of Kansas, Mike Hilgers of Nebraska and JB McCuskey of West Virginia, all state attorneys general, joined Bird at the press conference in Des Moines. Arkansas, Arizona, Idaho and Montana have all sued OpenAI in their own state courts. According to Cryptopolitan, Florida was the first state to sue OpenAI, back in June.
“OpenAI is hurting kids and they are lying to Iowans,” Bird said. ChatGPT, which has almost half of the US chatbot market, was made to be too agreeable and to simulate human compassion, according to her office.
Drew Pusateri, a spokesperson for the company, said OpenAI has “built industry-leading age-specific protections” into ChatGPT. The tools have parental controls, break reminders and age-appropriate model protections.
Petition pins seven of 10 rogue AI events on ChatGPT’s maker
Another count looks at how OpenAI has been testing AI agents that can work on their own. The petition says that OpenAI was responsible for seven of the 10 “rogue AI” events that happened between May and August 2026. This includes all five breaches in internal testing.
The most well-known one happened in July. During a cyber benchmark called ExploitGym, agents got out of their sandbox and hacked Hugging Face. Cryptopolitan wrote about this event when California subpoenaed OpenAI.
According to the petition, more than 1,200 agents worked as a “collective” and carried out 17,000 actions on Hugging Face servers. GPT-5.6 Sol was one of the models used.
The filing says that OpenAI didn’t know about the activity until after the FBI was notified.
Bird’s office said OpenAI admitted its advanced models had “gone rogue.” The petition also quotes OpenAI chief scientist Jakub Pachocki, who wrote that no lab “has solved alignment and monitoring to a sufficient degree to continue responsibly scaling at maximum speed for much longer.”
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Crypto exchange Kraken’s parent company Payward has signed a definitive agreement to acquire Lithuania-licensed Saldo Bank.
The deal would give it a European Union banking license and permit it to offer deposits, loans and euro payments across five markets.
Deposits, loans and SEPA payments would follow the deal
Payward announced the deal on Oct. 14, 2026. It is purchasing Saldo Finance Oy, the Finnish holding company that owns Saldo Bank UAB.
The transaction is still subject to regulatory approval and is expected to close in 2027.
Payward would reportedly become the first crypto company to own a European lender.
“Payward Banking is not a new ambition,” Arjun Sethi, co-CEO at Payward, said in a statement. He described a business built “license by license, market by market.”
A regulated EU bank would allow the firm to serve European clients “the way a primary financial institution should,” he said. He added that the ambition is global.
Saldo Bank is already operational in Germany, Finland, Sweden and Lithuania. It also has a passport to the Netherlands.
Footprint is the core of what Payward is buying.
After closing, Payward Banking intends to provide interest on deposits, secured and unsecured small-business loans, consumer lending and credit cards. All of it needs regulatory approval.
Other fintechs would also be given access to banking-as-a-service tools such as card issuance, SEPA euro payments access and embedded lending, the company said in a press release.
In all four markets where Saldo does business, it offers retail term deposits. In Lithuania, Finland, and Sweden, people can get consumer loans. In Lithuania and Finland, small businesses can get loans.
Its credit card is now available in Finland. In 2027, it will also be offered in Sweden. Saldo also helps fintech partners in Germany and Finland with embedded lending.
Saldo Bank president Jarkko Mäensivu said, “A banking license is only as valuable as what you build on top of it.” He also said that the combination would make it easier for more people to bank, pay, and borrow money all in one place.
The target is a Lithuanian lender with €162.9 million in assets
The company began in 2006 as a Finnish consumer lender connected to Tact Finance. In 2019, it changed its name to Saldo Finance.
In October 2021, Saldo got a specialized banking license in Lithuania. In February 2023, full banking operations began.
Saldo had total assets of €162.9 million, which is about $182 million, at the end of 2025. Assets went up 22% from one year to the next.
Around €124 million in loans were still due to the bank, and it held €137 million in retail deposits. The business made €28 million in revenue a year and had an operating profit of €10 million.
Saldo Bank’s balance sheet at December 31, 2025, in thousands of euros, from its annual financial statements.
The Saldo deal fits a pattern. The bank part of Payward has made loans worth more than $2 billion, the company says.
It has a limited-purpose Federal Reserve master account and an e-money institution license from the Central Bank of Ireland. Payward has applied for a national trust bank charter in the US.
In July, Kraken was said to be seeking a Lithuanian banking license.
Payward has obtained a full VARA license for Kraken in the UAE. Earlier in 2026, it agreed to acquire crypto derivatives firm Bitnomial in a $550 million deal.
Kraken was founded in 2011 by Jesse Powell. The exchange was opened to the public in September 2013.
Payward said it is working on both integration and regulatory approval.
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Ethena founder and CEO Guy Young has said that the large investor onchain transfers that occurred over the past 48 hours were a defensive move tied to the recent Ledger hardware wallet scare.
He wrote in a post on X that it is not a sign the holder is dumping tokens.
ENA holders who had spotted the activity had feared a whale was heading for the exit.
What Young actually said
Young confirmed in his X post that the moves were “a security precaution related to the recent hardware wallet concerns, not coins being moved and sold.”
Users had raised alarms about a major wallet relocating tokens. Usually, when news like this one circulates, users may assume that it is a security breach or a coordinated dump, and the resulting actions could cause the token itself to crash.
Young stepped in to calm the nerves as he said that the transfers were preventive and not the investor selling.
Ethena has drawn scrutiny before over large holders shifting tokens to exchanges.
The hardware wallet scare behind the move
The hardware wallet concerns that Young mentioned in his post are linked to the ongoing investigation that Ledger opened on October 9 concerning drained funds from its devices that were sold by Southeast Asian reseller CryptoBilis.
Ledger later said the cause was a covert chip hidden inside some CryptoBilis-sold units.
The implant read a user’s 24-word recovery phrase off the device screen during setup and transmitted it to an attacker over an LTE mobile network using an eSIM.
The attack is being described as a physical supply-chain attack. Ledger said that it has no indication that its infrastructure, systems or services or direct sales channel has been compromised.
Cryptopolitan reported that onchain researchers pegged losses at between $84.2 million and $93.2 million across more than 300 wallets, with Tether freezing $10 million in USDT tied to the thefts. Ledger has not confirmed a victim count or a dollar total.
The fallout from that incident spread across the industry, with fellow hardware wallet provider Trezor cutting its authorized reseller network. It informed its partners that their status ends by January 1, 2027. Trezor said that it found no evidence that its own devices were compromised. CryptoBilis halted sales of all brands it carried.
MediaMarkt Saturn, a Ledger hardware reseller in Germany, has halted the sale of those devices as a precaution following the supply chain breach.
Why an investor would reshuffle holdings now
Ledger urged its users to move their coins to a fresh signer. It also advised anyone who bought their hardware wallet from CryptoBilis within the past 90 days to leave unused devices untouched. For those already using the devices, Ledger told them to transfer assets to a new device with a newly generated recovery phrase.
That advice lines up with what Young described as what the investor was doing. It was a case of rotating funds for safety and not liquidation. So far, there is no other incident that challenges Young’s statement, and that means that the users will have to take his words for it and observe movements for the coming days.
Ethena did not name the investor or disclose the size of the transfers. Ethena runs the synthetic dollar protocol behind USDe.
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YouTube Music will not label a song as AI-made if an engineer tweaks a vocal with Auto-Tune or a producer feeds the master into automated AI software.
Both cases sit in the “No Gen AI” class YouTube set for music partners, alongside the AI labels YouTube Music started rolling out on October 14, 2026.
A 100% human song can still be declared partly generated for its video
The examples are listed on YouTube’s help page. An engineer using standard pitch-correction software such as Auto-Tune “to correct minor tuning mistakes in a live vocal performance” falls under No Gen AI.
The same goes for a producer whose automated AI mastering software sets the final balance, compression, and equalization of a track.
Partly Gen AI covers an artist who uses an AI tool to make a bassline or string section and then adds live singing and instruments on top of it. Artists who use AI to come up with ideas for lyrics, write verses with others, or make melodies before going into the studio also end up there.
And a song with 100% human-performed audio still qualifies as Partly Gen AI if a text-to-video model created its music video visuals.
Fully Gen AI is when somebody types a prompt into an AI music generator and downloads the song it spits back. The same tag applies to an artist who has a model generate the composition, instrumental performance, and vocals, even after multiple prompts to improve the output.
YouTube’s examples of Full, Partly and No Gen AI music, from its help page for music partners.
The label is on songs “where AI played a significant role,” according to YouTube’s announcement. When users tap it on the player page, a menu pops up that explains how AI was used.
Partners declare through DDEX ERN 4.3.2 or a CSV column
If a partner declares no value, YouTube treats a track as unknown “unless we are able to make a determination based on other signals.”
YouTube said it works with music partners and has its own tools to find tracks that were made by AI. It uses the same rules for labeling that are already used on YouTube.
When partners send content through DDEX ERN 4.3.2 or later, or through CSV delivery templates under their SRAV terms, they declare whether they used AI. Artists who upload through YouTube Studio will mark it in the attribute area.
There is a “contains_ai” column in the CSV route that can be all, partly, none, or unknown. The value “unknown” clears a value that was sent in error.
YouTube lets partners decide how to apply DDEX definitions to their own content.
Labels are also coming to the main YouTube app. AI involvement alone doesn’t make a track ineligible for monetization, TechCrunch reported.
Dream Track, a tool on YouTube, permits select creators to craft soundtracks with AI versions of participating artists’ voices. Deezer, Spotify, Apple Music and TIDAL all run or are planning their own AI labels, with Deezer saying in July that it was receiving close to 90,000 fully AI-generated tracks a day.
Cryptopolitan reported that in September 2026, Suno rebuilt its model lineup on Warner Music Group and BMG catalogues. Last year, Spotify collaborated with the major labels to develop AI products after removing more than 75 million spam tracks.
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The Office of the Comptroller of the Currency (OCC) said Wednesday that the nine largest U.S. banks restricted services to crypto firms and other lawful businesses between 2020 and September 2025.
Meanwhile, the OCC keeps granting crypto firms national bank charters of their own.
Did U.S. banks restrict services to crypto companies?
The Office of the Comptroller of the Currency (OCC) released a report stating that some U.S. banks ran reputation risk policies that lacked clear, risk-based standards and ended up penalizing customers over their beliefs or line of work after reviewing nearly 100,000 complaints and roughly 420,000 pages of documents pulled from JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD Bank and BMO.
The sectors that drew restrictions included the oil and gas sector and coal, firearms, tobacco, private prisons, and digital assets.
At a press conference in Lexington, Kentucky, Comptroller Jonathan Gould called the findings “irrefutable evidence” that the country’s biggest banks had “denied, debanked and discriminated against customers and lawful businesses.”
The review was ordered under President Trump’s Executive Order 14331, which was signed in August 2025.
Congressman Andy Barr and representatives from the state’s coal and firearms industries were also at the press conference.
The 47-page document lists digital assets as a restricted sector but offers no specific crypto cases. The OCC simply says that banks limited services to crypto “issuers, exchanges, or administrators.” It also often cited financial crime concerns.
The agency admitted it could not measure how widespread the practice was. Gould spent most of his remarks on coal and firearms, where the report details how banks cited negative press and public pressure rather than financial risk.
There are cases of banks restricting service to companies, but so far none have involved crypto. For instance, PNC declined a credit line to a media company in 2021 due to its conservative owners. Capital One turned away a gun rights group and organizations backing abortion rights. JPMorgan repeatedly refused a conservative retailer between 2021 and 2023, then got rid of internal records of the political notes.
Trump sued JPMorgan and chief executive Jamie Dimon in January, alleging his accounts were closed for political reasons.
What is the OCC granting crypto companies?
In December 2025, the OCC conditionally approved five national trust bank charters, including applications from Ripple, BitGo, Fidelity Digital Assets, Paxos and First National Digital Currency Bank.
These trust charters allow a firm to hold and manage client assets and settle payments, but it cannot take deposits or make loans. The charters also do not carry FDIC insurance or automatic Federal Reserve access.
Gould has said the agency responded to 40 new-bank charter applications in roughly 18 months, with 23 tied to digital assets, which is eight times the volume of the prior four years. The increase in activity comes after the enactment of the GENIUS Act on July 18, 2025.
Notably, the OCC was sued earlier in October by the Independent Community Bankers of America. Their argument is that the regulator overstepped its authority by giving crypto firms bank-like legitimacy without full bank rules.
Senator Elizabeth Warren raised the same concern in a May 18 letter, saying the OCC had cleared at least nine crypto trust charters since December 2025 and calling the recipients “effectively crypto banks” dodging the obligations of real ones. The OCC counters that its rules neither expanded nor narrowed its chartering powers.
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Bastion Trading, which, with affiliates, owns about 9.99% of SkyAI (Nasdaq: SKYA), challenged the company’s proposed $201 million buyback on October 14. SkyAI’s Solana holdings had fallen roughly 70% in under a month, and Bastion wants to know exactly when and how the tokens were sold. The clash could resonate beyond SkyAI. If crypto treasury companies face falling share prices, will they start selling the assets they spent months accumulating? The 400,000 SOL that moved between two filings On September 14, SkyAI announced that it had over two million SOL in its possession. However, on October 11, the company confirmed that half had been disposed of, leaving one million for SkyAI as mentioned in its statement. Only two days later, an SEC filing revealed that its SOL holding had further decreased to 600,000. That leaves 400,000 SOL unreported in previous filings without indicating what was the reason for additional sales of SOL. SkyAI hinted that there will be more sales in the future: “The Company continues to monitor the market for SOL and may continue to sell depending on market conditions.” Bastion wants answers now. It is looking to know the details, including when the tokens were sold, at what price, how much money was earned from the sales, and who approved the sale. It also called for an independent review of the conducted transactions. A board most shareholders voted to withhold Bastion’s worries extend beyond finances. The company questions the leadership capabilities of SkyAI due to the fact that at the annual meeting held on September 18, all five directors received more withheld votes than supported votes. According to the the SEC report, Soren Bo Christiansen had 6,894,675 votes for and 20,670,032 withheld. Jason Monroe had an almost identical situation with 6,901,524 votes for and 20,663,183 withheld. Nevertheless, both of them remain in their positions thanks to the plurality voting rules employed at the company. Other resolutions of the shareholders include rejecting the 2026 equity incentive plan with 22.46 million votes cast against and just 5.05 million in favor. Bastion wants independent directors elected by the shareholders to become part of the board and initiates the creation of a separate committee charged with monitoring the share buyback process. The $3.00 price Bastion wants raised to $3.50 SkyAI made an offer to acquire 95% of each eligible class of shares and warrants for a price of $3.00, which had a value of around $201 million. It described the price as being at a premium of 65% from the previous closing price on October 9. However, it still does not reach the level of $6.50 for share and warrant units in August 2025, as per , as per Cryptopolitan. The offer period was set for 10 business days, commencing on or around October 15. It is subject to a condition of at least 50% of each class being accepted and SOL remaining above $100 unless waived. Bastion would not accept unless the price was increased to at least $3.50 and governance changes took place. Separately, SkyAI didn’t agree to Forward Industries’ all-share proposal because it was too low. Liquidation versus accumulation, and the selling-pressure question The move by SkyAI has been recognized as consistent with what Galaxy research said: If treasury stocks begin to lose their premium, then companies have the option of raising cash from token sales to finance buybacks. For instance, ETHZilla liquidated $40million in Ether in 2025, while Sequans raised cash through the sale of Bitcoin to pay off debts. On the contrary, Forward Industries had in its possession 8,501,298 SOL and their equivalents as of September 30, which is an increase of 948,601 in a quarter. The current number of SOL owned by SkyAI is around 600,000. SkyAI vs Forward Industries: SOL Treasury Holdings, Shareholder Votes and 70% Decline For Solana investors, the difference is worth watching. While Forward Industries goes on buying more assets, SkyAI is cashing in its investments. It is not yet known if other firms will follow the example of SkyAI. At this point, we can confirm SkyAI’s activity but cannot find proof of a wider selloff.
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October 21 is reserved for the launch of Alpenglow, a protocol upgrade that aims to guarantee an irrevocable transaction in less than 150 milliseconds and remove the TowerBFT voting system the platform has used since 2020.
Why the speed of finality matters
While a Solana transaction may already become successful instantaneously, the difference is in the guarantee that stands behind it.
The Alpenglow protocol is designed to provide a near-instant guarantee that the finalized transaction is immutable. The real benefit will be received by the parties who need certainty to do something, such as a merchant who releases their goods or a cross-chain bridge that unlocks funds on a different blockchain. They may proceed faster.
The 150 milliseconds target is a projection rather than a promise, and actual performance will depend on the network conditions. Solana price stood around $104 on October 14, with its market cap standing at $61.3 billion.
How the voting change works
Currently, the validators who confirm transactions and validate the Solana network vote via on-chain transactions. Using the Alpenglow protocol, they can exchange these votes and collect a sufficient number of votes into a certificate to finalize a block after one or two rounds.
It’s time.
Alpenglow goes live on mainnet-beta Wednesday, October 21, ~14:50 UTC.
18 months of work for a migration that happens in one slot. Finality drops from seconds to ~150ms.
Make sure to follow us @anza_xyz as we countdown to go-live.
Details: https://t.co/MEf26uzCMW
— Anza (@anza_xyz) October 13, 2026
This process is said to be replacing TowerBFT and is named Votor, which was designed to reduce both the latency and cost associated with validators’ voting.
There is an unintended consequence worth pointing out. Since votes are not recorded anymore in blocks, the total number of transactions on Solana could fall dramatically on the launch day of the Alpenglow protocol, despite the same volume of trading and payments.
What validators have to do
Agave 4.3.0-based software is needed for operators to make the move. Two competing validator clients, namely Firedancer and Frankendancer, will not be able to assist in the initial migration and therefore will have to use another client temporarily.
Also, the economic model changes as well: validators currently pay around 1 SOL per epoch as voting fees; now this cost will change to the fixed admission fee of 0.8 SOL. An epoch is the period during which Solana assigns validator roles.
The activation schedule
The migration is supposed to happen during epoch 1064 and should begin somewhere at 15:00 UTC on October 21. The network will continue to use the current voting process for the first 5,000 slots, short timeframes allocated for block production, and will switch to Alpenglow approximately 18 minutes after that. It was also noted by The Defiant that the date for mainnet migration is October 21.
Possible problems with the mainnet migration may have an impact on sentiment; however, prediction market pricing suggests that there is no considerable effect expected from it yet.
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Polygon Labs has completed its acquisition of Coinme, which gives it 37 state money-transmitter licenses and 11 exemptions, all of which will be integrated into its Open Money Stack.
Polygon set out to make some acquisitions at the start of the year to give it access to stablecoin payments in the US, and Coinme’s acquisition was at the top of that agenda. The completion of the purchase now extends its regulated payments coverage to 48 US states.
What licenses does the acquisition give Polygon?
The completion of the acquisition also gives Polygon registration with the Financial Crimes Enforcement Network as a money services business.
The licenses from this acquisition feed into Polygon’s Open Money Stack. The stack bundles fiat on- and off-ramps, wallets, cross-chain routing, and settlement behind a single integration.
Businesses can take in funds and hold or settle them in stablecoins using the platform. They can also pay out in a recipient’s local currency, all from the stack.
Polygon Labs CEO Marc Boiron said Coinme’s acquisition gives them “more of the infrastructure to support a payment from the moment funds come in to the moment the recipient gets paid.”
Early customers plugging in
Polygon says the unified integration is still in technical preview for a handful of customers. Currently four firms are already building on the stack.
One of them is Tazapay, which is running cross-border business payments through the stack. Another firm, Mesh, is bolting an on-ramp onto its network of more than 300 wallets, exchanges, and financial services.
A regulatory cloud over Coinme’s kiosks
The announcement of the completion of Coinme’s purchase comes a few days after the company settled a multistate enforcement case.
Coinme reached a $2.5 million settlement with 34 state regulators on October 8, according to the Conference of State Bank Supervisors.
The settlement was due to alleged Bank Secrecy Act and anti-money laundering failures.
As part of that deal, Coinme agreed to wind down its virtual currency kiosk business by January 1, 2027, or pay an extra $4 million. It also has to bring in an independent consultant to review its compliance program.
Coinme has operated around 6,000 Bitcoin ATMs in the US through a partnership with coin-counting operator Coinstar.
Coinme has been fined in the past over these machines. Before the latest penalty, it was fined $300,000, including $51,700 in restitution, in June 2025 by California’s Department of Financial Protection and Innovation. The reason for that fine then was for breaching the state’s crypto-kiosk transaction limits and receipt-disclosure rules.
Why is Polygon betting $250 million on payments?
On January 13, Polygon Labs announced that it was going to acquire Coinme and Sequence for a combined $250 million to enable it to offer regulated stablecoin payments in the U.S.
Exactly ten months later, it has completed one leg of the combined deal by closing Coinme.
Coinme was founded in 2014; Sequence, which supplies smart wallets and the Trails cross-chain routing engine, launched in 2017.
Earlier in the year, the Polygon team became vocal about their changing position as a company. A spokesperson said in January, “Polygon Labs is no longer a scaling company, but a blockchain-based payments company.”
Polygon reported on September 29 that its chain has crossed $3 trillion in cumulative stablecoin transfers since 2020.
Polygon says its chain has moved more than $3 trillion in cumulative stablecoin transfers.
It has also been expanding the reach of its stack, as it recently added support for the TRON network in a bid to tap into TRON’s roughly $94 billion in circulating USDT.
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Canada has been named as the foremost peer-to-peer crypto economy amongst the Group of 7 nations by blockchain analytics firm Chainalysis.
This comes in light of an increase in remittance-sized transfers from Canada to India, China, and the Philippines. Those transfers went up by 141% year-over-year to $2.36 billion from July 2025 to June 2026.
The report is of particular importance to the millions of Canadians who send funds to family members overseas. This is a demographic that has turned to routing payments using cryptocurrencies as opposed to banks and wire services.
Why Canada leads the G7 on peer-to-peer crypto
Canada sits on top for two main reasons: the country has a vast and growing immigrant population and conventional money transfers have become more expensive. It also has the largest share of foreign-born residents (~23%) among the G7 nations.
In 2021 alone, over 8.3 million people were regarded as landed immigrants or permanent residents, the largest proportion in the nation since Confederation.
Nearly one in four people in Canada are immigrants, the highest proportion of the population in more than 150 years.
“Remittance corridors to India, the Philippines, Nigeria, Pakistan, and China are heavily used,” Morva Rohani, executive director of the Canadian Web3 Council, said in the report.
Inside the India, China and Philippines corridors
India, China and the Philippines received around $2.36 billion in transfers in approximately 3.56 million transactions. That is an average of $663 per transfer. Transfers from Canada to the Philippines peaked at $61.04 million across 73,564 transactions, a 28% increase in value and a 34.7% increase in the number of transactions.
The report covered P2P transfers in Bitcoin and stablecoins above the $10,000 mark. Head of research, Eric Jardine, stated that the firm made a conscious effort to ignore the smallest payments to avoid “omitting real remittance value.”
Stablecoins gain on the order book
Based on the report, dollar-pegged stablecoins have taken up a sizeable chunk of Canadian crypto trading. Stablecoins accounted for 44% of Canadian dollar-based order book volume in June, a 30% increase from the previous year.
Based on a World Bank estimate cited in the report, sending money from Canada costs an average of 6.7%, though the firm stated that low-cost blockchain settlement fees do not take into account currency conversion and cash-out costs.
Also, Canada’s domestic P2P activity has gone in the same direction as its temporary visa-holder population since mid-2021, even though the link remains correlational and not causal.
Canada’s place in the global picture
Canada’s increase in remittances is only one piece of a larger stablecoin puzzle. From June 2025 to June 2026, Global cross-border stablecoin transactions increased by 77.5% to $220.3 billion.
Canada sits in the top ten globally in the firm’s 2026 Global Crypto Adoption Index. The index ranks countries on service flows, domestic peer-to-peer activity, cross-border flows, and on-chain balances.
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Turkish authorities reportedly detained HEX founder Richard Heart in an early-morning raid in Istanbul on Wednesday.
The authorities seized dozens of luxury watches, firearms, and a large cash haul from the 47-year-old, who has been designated as wanted on an Interpol Red Notice since December 2024.
Has the HEX founder been arrested?
Richard Heart, whose legal name is Richard James Schueler, founded the HEX (HEX) token along with the PulseChain and PulseX projects. Turkish reports said he was taken into custody following an early morning raid today carried out under the coordination of the Istanbul Chief Public Prosecutor’s Office.
Alongside Schueler, a woman described as his wife, identified only as A.K was also detained.
Turkey’s National Intelligence Organization (MİT) located Schueler at an address in the upscale Beşiktaş district after doing some surveillance work. The Istanbul police, financial-crimes investigators, Interpol personnel, and special operations officers are said to have taken part in the raid.
Turkish prosecutors allege Schueler, known in Turkey by the nickname “Balina James,” or Whale James, built an Istanbul-based fraud network that operated through shell companies in the United States, Finland and Spain.
Roughly $4 million in cash and 64 luxury watches (53 Rolexes and 11 Patek Philippe pieces), plus jewelry, firearms and electronics were seized by authorities. Some reports say the $4 million was found vacuum-sealed, alongside unlicensed firearms and ammunition.
Some outlets report a lower figure of $600,000, 2,600 euros and 50,000 Turkish lira. The seized items are also reported to be 24 wristwatches, 20 gold bracelets, three pistols, four rifles, seven magazines, 1,360 rounds of ammunition, two drones and a trove of computing gear, including eight desktop cases, six laptops, 20 graphics cards and cold wallets used to store crypto offline.
Why was Richard Heart placed on the Red Notice?
Finland asked Interpol to issue a Red Notice for Schueler due to allegations of serious tax evasion and assault, and Interpol did so in December 2024. Before that, a Finnish court had ordered Schueler held in custody in his absence, and Finnish police had put him on Europol’s most-wanted list.
Finnish authorities accuse him of dodging taxes tied to crypto income running into hundreds of millions of euros. The assault allegation is reportedly due to a 2021 assault on a 16-year-old. In early 2025, Finnish police seized about 20 luxury watches, mostly Rolexes, valued at roughly $2.6 million from a residence in Espoo.
After the red notice went out in late 2024, Schueler posted on X that it “feels great to be wanted,” and continued promoting HEX on social media.
The U.S. Securities and Exchange Commission sued Schueler in July 2023, saying that he and the entities he controls ran unregistered crypto asset securities offerings that pulled in more than $1 billion from investors, and at least $12 million of that was spent on luxury goods, including sports cars, watches, and a 555-carat black diamond called “The Enigma.”
That civil case was dismissed in 2025 over insufficient jurisdictional links to the United States. Despite the dismissal, some Turkish outlets have described the SEC matter as a $1.5 billion fraud, a figure higher than the SEC’s own stated amount.
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A British software engineer, Lewis Barber, is suing BitMEX operator HDR Global Trading in London for the return of 324.8 bitcoin, worth roughly $27.2 million.
The software engineer alleges that the shuttered exchange sold him derivatives in the UK without approval from the Financial Conduct Authority (FCA).
Why is BitMEX getting sued?
A British software engineer called Lewis Barber placed about 2,294 trades on BitMEX across five accounts between 2018 and 2022, the Guardian reported, citing the particulars of claim.
Barber sued BitMEX over the 1,053 of his trades that lost money. Each one was a perpetual swap, a derivative that works like a futures contract but never expires.
In December 2025, Barber’s solicitors wrote to BitMEX to rescind his trades based on the Financial Services and Markets Act 2000. Under that law, every swap he traded was a regulated activity, and BitMEX held no UK authorization to offer them.
He says this makes the contracts unenforceable against him and entitles him to be repaid what he lost. He also alleges BitMEX knew it wasn’t authorized but still implied that trading with him was lawful.
The bitcoin Barber wants back was valued at £20.4 million on October 1, but the number reportedly shoots up to about $27.2 million when calculated using the exchange rates in the filing.
The claim has been filed at the High Court but not served. It points out BitMEX’s marketing reach, saying the exchange ran promotional campaigns worldwide, let users register the UK as their country of residence, and placed an advertisement in The Times on January 3, 2019.
The claim mentions a public warning the UK’s Financial Conduct Authority (FCA) issued on March 3, 2020, which told UK consumers that BitMEX wasn’t authorized by the FCA.
Due to that, anyone trading on it would have no access to the Financial Ombudsman Service or the Financial Services Compensation Scheme.
Is BitMEX in other legal trouble?
Cryptopolitan reported that BitMEX stopped trading on September 23, 2026, after more than 11 years in operation. HDR Global, the Seychelles company that runs it, said it decided to shut down after failing to find a buyer in 2025. Verified users who still have money on the platform will now be charged a fee of $50 per month or 1% per year, whichever is higher.
Apart from the claim in London, BitMEX is accused of running a hidden “Insider Trading Desk” in New York that traded against customers and froze its servers during volatile periods to force liquidations.
BKX Services and David Namdar filed the proposed class action in July. The plaintiffs say they lost about 623 bitcoin between them and want the coins returned. BitMEX has denied the allegations.
BitMEX’s co-founder Ben Delo has drawn separate attention in Britain for donating £36 million to Reform UK.
Notably, Delo, Arthur Hayes, and Samuel Reed pleaded guilty in 2022 to breaking U.S. anti-money laundering law (the Bank Secrecy Act). They avoided prison, and President Trump pardoned them in March 2025. BitMEX pleaded guilty to the same offense in 2024 and paid the U.S. Department of Justice $100 million in January 2025.
The UK suit is similar to a June 2026 case in which nearly 1,700 investors sued Binance and Changpeng Zhao over unauthorized derivatives sales, a case that targets more than £150 million.
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Consumer prices in the US came in higher than expected in September, pushing Bitcoin down by roughly $1,000 to $82,800 and stoking fears that the Federal Reserve may consider hiking interest rates once again at its upcoming monetary policy meeting in late October.
The figures that rattled the markets
According to the Bureau of Labor Statistics, the annual rate of inflation amounted to 3.7% in September, compared to 3.4% in August. One expert commented that the figure was above the 3.6% that experts had expected. The monthly change in the headline CPI stood at 0.6%, in line with expectations and compared to 0.4% in August.
It is the core CPI, however, that is the one measure that really spooked the market. The core CPI increased by 0.3% on a monthly basis and 2.6% on an annualized basis. Both figures were above the 0.2% and 2.5% that analysts had predicted.
Energy did the heavy lifting
Gasoline prices were the stars in September, rising by 9.1%, contributing more than half of the September CPI rise. The energy index increased by 5.2%, whereas the cost of shelter increased by 0.4%, and food prices did not change.
In any case, the detailed information indicated the spread of inflation. The prices of used vehicles, airfares, recreation, education, and health care services experienced hikes. The reason for the disappointment was the core price gauge.
In addition, before the release of the inflation figures, Bitcoin price was relatively high. Bitcoin briefly reached $84,000 at 08:00 UTC and traded around $83,450 in Europe in the morning after dropping to $80,970 on Tuesday. This news took the price about $1,000 lower.
Bonds suffered the most: 10-year Treasury yield rose by 9.3 basis points to 5.308%, and the 2-year yield grew by 13.1 basis points to 4.924%. Moreover, equity futures decreased by 0.65% for the Nasdaq 100 futures and 0.3% for the S&P 500 futures. The gold price reduced by 1.5% to $4,116 an ounce.
Bitcoin price dropped by more than 2% in the last 24 hours. BTC is trading at an average price of $81,650 at the press time. Ether price took a dip of around 3.5% in the same time. ETH is trading at around $2,429 at the press time.
What it means for the Fed
This report comes ahead of the FOMC policy meeting to be held on October 27-28, the last inflation report before that meeting. Prior to the report, a number of members of the Federal Reserve had indicated that a quarter percentage point increase was expected before the end of this year, while the markets were expecting a pause this month and then an increase in December.
Higher readings have made all the difference. According to Alpher, the September figures “might just put an October rate hike back on the table”. This goes against what Fed Chair of New York, John Williams, had indicated about no further rate hikes being needed in 2027.
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Britain’s online safety regulator, Ofcom, has questioned Elon Musk’s X and its efforts to remove illegal hate speech and terrorist content on the platform, despite the commitment to a faster handling of user reports.
Faster reviews, but no effective removal
X’s first quarterly performance report showed it had met deadlines for reviewing suspected illegal posts. Ofcom’s concern goes beyond how quickly those reviews are completed though. The regulator is more interested in what actions the platform takes after the reviews.
“We have ongoing concerns around the effectiveness of X’s response to taking down illegal hate and terror content,” the regulator stated. Ofcom added that it had “received mixed reports around the sustained delivery of X’s commitment to engage with third-party experts.”
In May, X agreed to review reports submitted through its UK reporting tool within an average of 24 hours and resolve at least 85% within 48 hours over a three-month period.
Ofcom said X met both targets and processed reports faster than earlier in the year. The regulator will now independently verify the figures and publish another assessment early next year.
Grok investigation moves toward decision
The update also addressed Ofcom’s separate investigation into X, launched in January after reports that its Grok chatbot was being used to create sexual images without consent, including images of children.
Ofcom said it had gathered extensive evidence using its formal powers and was now assessing if X had any possible breaches of its obligations under the Online Safety Act.
If the regulator finds reasonable grounds to suspect a breach, it will issue provisional findings and give X an opportunity to respond before reaching a final decision.
Ofcom found during its probe that users without verified adult status could still access pornography on X. X has since limited access to the material to age-verified accounts, allowing the regulator to focus on the platform’s handling of illegal content and reporting tools.
Pressure building on several fronts
X is facing a lot of scrutiny, even beyond the UK regulator’s clutches. SpaceXAI, formerly known as xAI, has restricted the standalone Grok app in the UK, preventing users from viewing, creating or sharing pornographic images through its image tool, The Next Web reported.
Companion bots such as “Ani” can also no longer engage in sexual conversations with UK users.
One UK lawmaker has asked the High Court to block Grok from producing sexual images, while Ireland’s media regulator is evaluating X over age checks.
Ofcom has recently been very critical of major platforms, with X, Meta and TikTok having recently challenged parts of the regulator’s powers to gather information in court. Meta has also separately contested how Ofcom calculates fees and penalties.
Under the Online Safety Act, companies found in breach face fines of up to £18 million or 10% of their qualifying worldwide revenue, whichever is higher.
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Google DeepMind chairman Demis Hassabis has let out a warning at an AI summit in Dublin that recent hacks involving autonomous AI agents could be early signals of bigger security threats. He urged companies and governments to strengthen their defenses before AI technology becomes more capable.
DeepMind co-founder and Alphabet chief scientist Hassabis struck a balance between optimism about AI’s scientific potential and warnings about its security risks at the International AI Summit.
He cited hacks by autonomous AI agents that caused no serious damage but exposed underlying security risks, stressing that these issues should not be ignored, as the systems were “not healthy yet.”
Hassabis said the technology was just not yet powerful enough for those incidents to have inflicted major harm.
Deepmind chair wants defenders armed first
Hassabis said security teams need an advantage before AI tools reach the public. “I think one of the big things we need to do is asymmetrically power the defenders, trust the defenders,” he stated. He added that the same systems should help find and patch software vulnerabilities before release.
Hassabis urged companies and governments to create secure sandboxes and test autonomous agents thoroughly before release. He also suggested drawing on experts in nuclear technology and biology, fields with experience managing dangerous systems, to develop ways to contain AI risks.
The DeepMind co-founder also warned about misalignment, the risk that AI agents may stray from their operators’ goals. “It increases the risks involved with what those systems might do, we’ve seen that recently,” he said at the summit.
Hassabis proposed an international standards body to establish safeguards for advanced AI, while stressing that any framework must keep pace with the technology without stifling research. He also proposed a certification process based off potential risks that evolves as new capabilities and vulnerabilities emerge.
Microsoft’s President Brad Smith claimed 2026 was a “sobering year” for AI safety and urged global regulators to stay abreast of AI’s development. He added that no company or technology should be above the law, as previously reported by Cryptopolitan.
A Nobel laureate’s optimism
Hassabis won the 2024 Nobel Prize in Chemistry alongside John Jumper for developing an AI model that predicts the structures of nearly all 200 million known proteins. The technology is already helping researchers study antibiotic resistance and design plastic-degrading enzymes, according to the Royal Swedish Academy of Sciences.
His track record regarding his use of AI guided his statements in Dublin, where Hassabis described AI as a dual-use technology that can help treat disease and perform a lot of exploits, but which can also be exploited by bad actors.
He argued that security measures should protect AI’s potential benefits in the long-term, and not completely hinder them.
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VIENNA, October 14, 2026 – BingX EU (MEGE zweite GmbH) has secured its Markets in Crypto-Assets Regulation (MiCA or MiCAR) license from Austria’s Financial Market Authority (FMA), that will enable the platform to offer regulated crypto services across 29 countries of the European Economic Area (EEA), subject to ongoing passporting arrangements. The authorization marks a significant milestone in BingX’s European expansion, providing EEA users with access to digital asset services under a unified regulatory framework built on transparency, security, and investor protection.
The authorization reflects BingX EU’s long-term commitment to responsible growth in Europe. As digital assets become increasingly integrated into the financial system, regulatory clarity plays an essential role in strengthening user confidence, supporting institutional participation, and enabling sustainable industry development. Through its regulated European entity, BingX EU will provide compliant crypto services designed to meet the evolving needs of both retail and institutional users across the EEA.
“Our priority is to provide European users with trusted and locally regulated trading experience,” said Daniel Lai, Chief Executive Officer of BingX EU. “Operating under MiCAR will allow us to deliver our services under a clear regulatory framework that gives users confidence while supporting the long-term development of Europe’s digital ecosystem. It also enables us to combine innovation with the high standards of security, transparency and accountability that European users and institutions expect. We believe this foundation can help create a more accessible and sustainable environment for the continued adoption of digital assets across the region.”
Looking forward, BingX EU will continue working closely with Austria’s FMA and other European regulators as it prepares for the launch of its regulated services across the European Economic Area. BingX EU remains committed to operating within Europe’s regulatory framework while providing users with secure, transparent and compliant access to digital asset services.
About BingX EU
MEGE zweite GmbH (“BingX EU“) is a MiCAR-regulated crypto-asset platform, headquartered in Vienna, licensed as a Crypto-Asset Service Provider (CASP) under the Markets in Crypto-Assets Regulation (MiCAR). Dedicated to serving clients across 29 countries in the European Economic Area, BingX EU delivers fully regulated services in alignment with European standards for investor protection and market integrity. Under its MiCAR authorization, BingX EU provides a platform that offers regulated broker services, such as crypto custody, exchange, and other crypto services.
For media inquiries, please contact: media@bingx.eu
About BingX
Founded in 2018, BingX is one of the the world’s leading multi-asset trading platform, serving more than 40 million users worldwide. The company has been the Principal Partner of Chelsea FC since 2024 and became the Official Team Partner of Scuderia Ferrari HP in 2026.
Disclaimers: The content qualifies as a marketing communication under the Markets in Crypto-Assets Regulation (MiCAR) and is issued by MEGE zweite GmbH (BingX EU). It does not constitute investment advice.

Nvidia has pledged $250 million in computing resources to UK AI safety research over five years, offering compute access rather than cash, with none of the resources being contracted at this point in time.
Nvidia’s press release said the pledge covers $50 million in computing resources each year for five years, provided through UK-based Nvidia Cloud Partners using hardware based in Britain. This means Nvidia is basically paying to use computing capacity sold by its own cloud partners and powered by its own chips.
Researchers will focus on securing AI agents, improving open-model security and reducing potential threats, using Nvidia’s OpenShell runtime software and Sentry reference design as part of the effort. The initiative builds on existing work at the University of Bristol’s Isambard-AI supercomputer, which runs on Nvidia Grace Hopper chips.
Who is securing the compute?
Most of the capacity will go to the wider UK safety community, with a share set aside for three named efforts. These efforts include Oxford’s British Open-Ended Learning and Discovery Lab (BOLD), led by Jakob Foerster, and University College London’s Science of Fundamental AI Research Lab (SOFAIR). The third effort at the Imperial College London will focus on safety engineering and robotics under Alessandra Russo.
Nvidia founder and CEO Jensen Huang said the computing resources would help UK researchers develop and test safeguards as AI systems become more powerful.
Researchers use different types of simulations to test AI agents and their behaviors in controlled environments and if they end up violating their assigned rules.
The UK AI Security Institute gave a concrete example of the types of agentic AI failure in question. The institute disclosed in August that autonomous agents took 19 “unsanctioned actions” during late-July cyber-range testing, including one attempted supply-chain attack that used fake identities and Tor. The incident was reportedly contained within about an hour.
Little donation from the world’s most valuable company
Nvidia’s market value hit about $5.8 trillion in early October, very close to $6 trillion, making it the most valuable company ever on record. Spread across five years, $250 million is but a fraction of one single large data center project.
The UK compute pledge is also less than Nvidia’s commitments at other places. Only five days earlier, the company pledged $1 billion over five years to multiple US universities, quantum computing and government cloud providers, The Next Web reported.
During a visit to Paris on October 13, Huang said the company planned to announce $2 billion in European investments within a week, with London and Berlin next. It remains unclear whether the UK donation is included in that figure.
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