OpenAI plans to buy Google's AI chips, The Information reports

OpenAI plans to purchase Google's AI chips, according to a source familiar with the matter, as technology companies ramp up spending on data centers and semiconductors to meet surging demand for AI computing.

The planned purchase would deepen ties between OpenAI and Alphabet's Google, which compete in AI products and search but have increasingly struck commercial deals.

The report did not disclose financial terms or other details.

OpenAI is already among the largest buyers of Nvidia's Graphics processing units (GPUs), which it uses to train and deploy AI models.

Google's Tensor Processing Units (TPUs) have gained Traction as an alternative to Nvidia's market-leading AI chips as companies seek cheaper options and chips suited to running AI models. Alphabet will report its quarterly results later on Wednesday, with investors looking for signs that its heavy investment in AI is continuing to drive growth in its cloud business.

Reference Sources

1. thestarmy - OpenAI plans to buy Google's AI chips, The Information reports
2. aawsat - OpenAI Plans to Buy Google's AI Chips, The Information Reports

Korea financial firms hit by more hacks as Asia breaches grow

South Korea's financial industry has been hit by a second wave of Cyberattacks in about a month as a series of breaches across Asia Heightens concerns that artificial intelligence (AI) is making large-scale hacking easier. Financial Supervisory Service governor Lee Chan-Jin said on Oct 28 that some of South Korea's major financial investment companies had suffered widespread hacking the previous day. Institutions including Mirae Asset Global Investments Co and Daishin Securities Co reported Unauthorised access, renewing concerns over the vulnerability of the country's financial system.

The breaches add to a string of attacks on Japanese companies, including Softbank Corp and Daiwa Securities Group Inc, that have prompted authorities there to call for security checks.

Japan's financial services agency called for scrutiny of third-party risks and extra precautions when verifying users' identities online, while Finance Minister Satsuki Katayama urged financial institutions to review their defences. Earlier this month, attackers using a sophisticated AI agent targeted some of South Korea's biggest banks and financial institutions. Organisations worldwide are also working to patch critical flaws in PHP, an Open-Source programming language widely used across the Internet, amid disruptions that have prompted banks, Airlines and governments to take Websites Offline.

Reference Sources

1. thestarmy - Three South Korean financial firms including Bithumb report data breaches, Yonhap says
2. thestarmy - Korea financial firms hit by more hacks as Asia breaches grow

Mercedes Cuts 2026 Profit Margin Outlook Citing China Struggles

German luxury carmaker Mercedes-Benz has lowered its outlook for the current year, citing difficult conditions in China and higher cost expectations in the fourth quarter.

The company now expects an adjusted car profit margin of 2% to 3% in 2026, compared to the 3% to 5% in the previous guidance. Earnings before interest and tax are likely to be on a par with last year's figure, even though they should rise significantly, as Mercedes incurred high costs relating to job cuts last year. Like many German carmakers, Mercedes has been struggling with weak sales in China, a core market where German companies are facing sluggish demand.

Reference Sources

1. ft - Mercedes and Stellantis struggle to revive fortunes despite cost cuts and new models
2. aawsat - Mercedes to Cut More Jobs as Chinese Competition Bites
3. bernama - Mercedes Cuts 2026 Profit Margin Outlook Citing China Struggles
4. wsj - Mercedes-Benz to Accelerate Efficiency Drive as Market Conditions Worsen
5. wsj - Mercedes-Benz Cuts Guidance on China Weakness, Higher Costs

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.  

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