Latest news with #WebSummit
Zawya
5 days ago
- Business
- Zawya
QRDI Council's Small Business Innovation Grant is now open for applications
Doha, Qatar: Qatar Research, Development, and Innovation (QRDI) Council's Small Business Innovation Grant (SBIG), a new national funding program designed to empower small and medium-sized enterprises (SMEs) in Qatar to implement and transform innovative ideas into impactful solutions. Launched during Web Summit Qatar 2025, the SBIG program provides phased funding to support the development and commercialization efforts of innovative technologies, products, or services. This grant is part of QRDI Council's broader strategy to enhance the national innovation ecosystem and promote sustainable economic diversification, in alignment with Qatar's Third National Development Strategy (NDS-3). Applications for this grant are open now until August 4, 2025. SBIG provides support in two distinct phases. Phase I focuses on early-stage innovation, offering funding for feasibility studies and proof-of-concept development over a 6 to 12-month period. Phase II builds on the outcomes of Phase I, providing additional funding over 12 to 24 months to support prototype testing, technological development, and the achievement of project readiness for marketing. The grant focuses on SMEs operating in strategic sectors such as Medical and Healthcare, Logistics and Transportation, Smart Cities, Creativity, Arts, Tourism, and Emerging Digital Technologies. QRDI Council invites all eligible SMEs to utilize this opportunity to access non-dilutive funding and state-of-the-art innovation infrastructure in Qatar. The SBIG initiative reflects QRDI Council's ongoing commitment to supporting homegrown innovators and driving knowledge-based economic growth in Qatar. For full details and to begin the application process, visit the Innolight platform or contact the QRDI Council directly. About QRDI Council QRDI Council is a government entity with the mission to support research, development and innovation (RDI) activities as well as to develop RDI talent in Qatar. The Council strives to make Qatar a top destination for global talent and a pioneering research, innovation, and development hub with its motto 'locally empowered, globally connected'. Playing a pivotal role within the Qatar National Development Strategy, the QRDI Council is actively shaping the Innovation component of the Economic Diversification goal. The Council's commitment underlines its unwavering dedication to the Qatar National Vision 2030. QRDI Council aims to make Qatar a global innovation hub and a top choice for R&D centers worldwide, seeing RDI as vital for Qatar's growth and prosperity. To delve deeper into QRDI Council's endeavors and vision: Website: Stay Connected: Engage with the QRDI Council on various social media channels to stay updated on the Council's latest activities and achievements. Follow QRDI on - Instagram - LinkedIn - X - YouTube - : Facebook
Vancouver Sun
13-06-2025
- Business
- Vancouver Sun
Canada is behind in 'sovereign AI compute' but two B.C.-focused projects aim to change that
'Sovereign AI compute' was the buzz term on the lips of people in B.C.'s artificial intelligence sector at last week's Web Summit conference in Vancouver. It is something increasingly essential to the country's booming AI sector, but is an area where Canada is behind. 'Compute' is the industry's shorthand term for the banks of powerful computer servers and high-speed processors that run AI applications for automation and machine learning. 'Sovereign' refers to the amount of that compute capacity that a country has within its own borders, something that has become more important given U.S. President Donald Trump's tariff policies and antagonistic stance on trade. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Westcoast Homes will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Canada has some domestic AI computing power, 'but not at scale,' Gail Murphy, vice-president of research at the University of B.C., said during a panel session on AI sector needs at the Web Summit. Murphy, who is vice-chair of the Digital Research Alliance of Canada, noted that Canadian universities have three AI compute sites in Canada for research, but the country needs more for both research and to foster small- and medium-sized enterprises. 'What we're really lacking is providing some of that at scale and to provide it both to the research community, but also to small and medium enterprises creating Canadian (intellectual property),' Murphy said. 'We have to make sure we can build solutions at home because of instability in the world.' Last week, two of Canada's major telecom company's, Bell Canada and Telus, launched bids to be bigger players on that front, with a focus on B.C. Bell has unveiled a plan under the name AI Fabric — a network of six data centres in B.C. it characterized as Canada's biggest AI compute project. Collectively they will provide computing power for research institutes and businesses requiring 500 megawatts of electricity. The first of two seven-megawatt centres is set to open in Kamloops this June, followed by another in Merritt by the end of the year. They will use data processing technology from the U.S. firm Groq, not to be confused with Elon Musk's X Platform's Grok AI. In 2026, Bell plans to open the first of two 26-megawatt data centres in Kamloops at Thompson Rivers University. The second is on the books to open in 2027. There is no timeline for the next stage, but Bell said it is in the advanced planning stage for two more much-larger AI data centres in B.C., each designed to use 200 megawatts of power. Bell didn't put a price on the project, but CEO Mirko Bibic said the company is 'bolstering Canada's AI compute capacity, while laying the groundwork to continue growing our AI economy.' Bell's move follows Telus which previously announced that it will put a NVIDIA supercomputer-powered data centre in Kamloops that will form what the company is calling a sovereign AI factory as part of its $15-billion capital spending plan for B.C. Telus didn't specify the size of its AI factory, but company chief information officer Hesham Fahmy vowed that the AI factory will give 'customers the accelerated computing power needed to grow, compete globally and shape the future of AI right here in Canada.' Bell said one reason it picked Kamloops for its first sites was its stable climate — moderate weather and relatively low risk for natural disasters. The city is also a hub for Canada's major fibre optic cable telecommunication network, which will limit signal delays for AI use, something the industry refers to as 'low latency.' As well, Kamloops has access to B.C. Hydro's grid 'ensuring stable connectivity.' Bell added that Kamloops is close to Vancouver, Calgary and Seattle, but has a lower cost of living. It said that will help with recruiting and retaining the skilled employees it will need for large-scale AI operations. Both Bell and Telus touted the 'clean energy' aspects of their B.C. AI facilities. Telus vowed that its AI factory will be powered by 99 per cent renewable energy while Bell highlighted its 'hydroelectric powered' compute. Bell's commitments to provide computing power requiring 500 megawatts of power means its new data centres could, by themselves, use almost half of the 1,100-megawatt capacity B.C. Hydro's new Site C Dam. The telecom companies' announcements are also being made during a period when prolonged droughts have pushed B.C. Hydro to import electricity, prompting critics to question whether the utility can keep up with demand. Jobs Minister Diana Gibson, however, said the province is rushing to increase its generating capacity. 'We did have a call for power,' Gibson said, referring to B.C. Hydro's May 5 announcement asking for bids from private power producers to provide at least 5,000 gigawatt hours of renewable electricity. 'And there will be more of that coming.' Gibson said the government's commitment is to dramatically increase its renewable energy sector 'and to ensuring that it comes online quickly.' Attitudes about the importance of domestic computing power have shifted dramatically since Trump took office, said Handol Kim, CEO of the Vancouver machine-learning firm Variational AI. 'Five months ago, it didn't really matter,' Kim said during a Web Summit panel session. Now, however, after witnessing Trump attempt to restrict companies such as NVIDIA from selling high-powered processing chips to China, there seems to be increased risks to other countries. Kim said he didn't think it likely that the U.S. would try to throttle Canadian access to computing power, but 'you don't want to be counting on that not happening.' 'Inherently, it's very good for us to have a sovereign compute strategy, just like it's good to have a sovereign power strategy, a sovereign strategy around the supply of resources to enable economic growth,' Kim said. depenner@
Vancouver Sun
02-06-2025
- Business
- Vancouver Sun
Here's what you need to know about 'sovereign artificial intelligence'
'Sovereign AI compute' was the buzz term on the lips of people in B.C.'s artificial intelligence sector at last week's Web Summit conference in Vancouver. It is something increasingly essential to the country's booming AI sector, but is an area where Canada is behind. 'Compute' is the industry's shorthand term for the banks of powerful computer servers and high-speed processors that run AI applications for automation and machine learning. 'Sovereign' refers to the amount of that compute capacity that a country has within its own borders, something that has become more important given U.S. President Donald Trump's tariff policies and antagonistic stance on trade. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Westcoast Homes will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Canada has some domestic AI computing power, 'but not at scale,' Gail Murphy, vice-president of research at the University of B.C., said during a panel session on AI sector needs at the Web Summit. Murphy, who is vice-chair of the Digital Research Alliance of Canada, noted that Canadian universities have three AI compute sites in Canada for research, but the country needs more for both research and to foster small- and medium-sized enterprises. 'What we're really lacking is providing some of that at scale and to provide it both to the research community, but also to small and medium enterprises creating Canadian (intellectual property),' Murphy said. 'We have to make sure we can build solutions at home because of instability in the world.' Last week, two of Canada's major telecom company's, Bell Canada and Telus, launched bids to be bigger players on that front, with a focus on B.C. Bell has unveiled a plan under the name AI Fabric — a network of six data centres in B.C. it characterized as Canada's biggest AI compute project. Collectively they will provide computing power for research institutes and businesses requiring 500 megawatts of electricity. The first of two seven-megawatt centres is set to open in Kamloops this June, followed by another in Merritt by the end of the year. They will use data processing technology from the U.S. firm Groq, not to be confused with Elon Musk's X Platform's Grok AI. In 2026, Bell plans to open the first of two 26-megawatt data centres in Kamloops at Thompson Rivers University. The second is on the books to open in 2027. There is no timeline for the next stage, but Bell said it is in the advanced planning stage for two more much-larger AI data centres in B.C., each designed to use 200 megawatts of power. Bell didn't put a price on the project, but CEO Mirko Bibic said the company is 'bolstering Canada's AI compute capacity, while laying the groundwork to continue growing our AI economy.' Not to be outdone, Telus announced on Thursday that it will put a NVIDIA supercomputer-powered data centre in Kamloops that will form what the company is calling a sovereign AI factory as part of its $15-billion capital spending plan for B.C. Telus didn't specify the size of its AI factory, but company chief information officer Hesham Fahmy vowed that the AI factory will give 'customers the accelerated computing power needed to grow, compete globally and shape the future of AI right here in Canada.' Bell said one reason it picked Kamloops for its first sites was its stable climate — moderate weather and relatively low risk for natural disasters. The city is also a hub for Canada's major fibre optic cable telecommunication network, which will limit signal delays for AI use, something the industry refers to as 'low latency.' As well, Kamloops has access to B.C. Hydro's grid 'ensuring stable connectivity.' Bell added that Kamloops is close to Vancouver, Calgary and Seattle, but has a lower cost of living. It said that will help with recruiting and retaining the skilled employees it will need for large-scale AI operations. Both Bell and Telus touted the 'clean energy' aspects of their B.C. AI facilities. Telus vowed that its AI factory will be powered by 99 per cent renewable energy while Bell highlighted its 'hydroelectric powered' compute. Bell's commitments to provide computing power requiring 500 megawatts of power means its new data centres could, by themselves, use almost half of the 1,100-megawatt capacity B.C. Hydro's new Site C Dam. The telecom companies' announcements are also being made during a period when prolonged droughts have pushed B.C. Hydro to import electricity, prompting critics to question whether the utility can keep up with demand. Jobs Minister Diana Gibson, however, said the province is rushing to increase its generating capacity. 'We did have a call for power,' Gibson said, referring to B.C. Hydro's May 5 announcement asking for bids from private power producers to provide at least 5,000 gigawatt hours of renewable electricity. 'And there will be more of that coming.' Gibson said the government's commitment is to dramatically increase its renewable energy sector 'and to ensuring that it comes online quickly.' Attitudes about the importance of domestic computing power have shifted dramatically since Trump took office, said Handol Kim, CEO of the Vancouver machine-learning firm Variational AI. 'Five months ago, it didn't really matter,' Kim said during a Web Summit panel session. Now, however, after witnessing Trump attempt to restrict companies such as NVIDIA from selling high-powered processing chips to China, there seems to be increased risks to other countries. Kim said he didn't think it likely that the U.S. would try to throttle Canadian access to computing power, but 'you don't want to be counting on that not happening.' 'Inherently, it's very good for us to have a sovereign compute strategy, just like it's good to have a sovereign power strategy, a sovereign strategy around the supply of resources to enable economic growth,' Kim said. depenner@
The Hindu
02-06-2025
- Business
- The Hindu
Silicon Valley VCs navigate uncertain AI future
For Silicon Valley venture capitalists, the world has split into two camps: those with deep enough pockets to invest in artificial intelligence behemoths, and everyone else waiting to see where the AI revolution leads. The generative AI frenzy unleashed by ChatGPT in 2022 has propelled a handful of venture-backed companies to eye-watering valuations. Leading the pack is OpenAI, which raised $40 billion in its latest funding round at a $300 billion valuation, unprecedented largesse in Silicon Valley's history. Other AI giants are following suit. Anthropic now commands a $61.5 billion valuation, while Elon Musk's xAI is reportedly in talks to raise $20 billion at a $120 billion price tag. The stakes have grown so high that even major venture capital firms, the same ones that helped birth the internet revolution, can no longer compete. Mostly, only the deepest pockets remain in the game: big tech companies, Japan's SoftBank, and Middle Eastern investment funds betting big on a post-fossil fuel future. "There's a really clear split between the haves and the have-nots," says Emily Zheng, senior analyst at PitchBook, told AFP at the Web Summit in Vancouver. "Even though the top-line figures are very high, it's not necessarily representative of venture overall, because there's just a few elite startups and a lot of them happen to be AI." Given Silicon Valley's confidence that AI represents an era-defining shift, venture capitalists face a crucial challenge: finding viable opportunities in an excruciatingly expensive market that is rife with disruption. Simon Wu of Cathay Innovation sees clear customer demand for AI improvements, even if most spending flows to the biggest players. "AI across the board, if you're selling a product that makes you more efficient, that's flying off the shelves," Wu explained. "People will find money to spend on OpenAI" and the big players. The real challenge, according to Andy McLoughlin, managing partner at San Francisco-based Uncork Capital, is determining "where the opportunities are against the mega platforms." "If you're OpenAI or Anthropic, the amount that you can do is huge. So where are the places that those companies cannot play?" Finding that answer isn't easy. In an industry where large language models behind ChatGPT, Claude and Google's Gemini seem to have limitless potential, everything moves at breakneck speed. AI giants including Google, Microsoft, and Amazon are releasing tools and products at a furious pace. ChatGPT and its rivals now handle search, translation, and coding all within one chatbot, raising doubts among investors about what new ideas could possibly survive the competition. Generative AI has also democratised software development, allowing non-professionals to code new applications from simple prompts. This completely disrupts traditional startup organisation models. "Every day I think, what am I going to wake up to today in terms of something that has changed or (was) announced geopolitically or within our world as tech investors," reflected Christine Tsai, founding partner and CEO at 500 Global. In Silicon Valley parlance, companies are struggling to find a 'moat' that unique feature or breakthrough like Microsoft Windows in the 1990s or Google Search in the 2000s that's so successful it takes competitors years to catch up, if ever. When it comes to business software, AI is "shaking up the topology of what makes sense and what's investable," noted Brett Gibson, managing partner at Initialized Capital. The risks seem particularly acute given that generative AI's economics remain unproven. Even the biggest players see a very uncertain path to profitability given the massive sums involved. The huge valuations for OpenAI and others are causing "a lot of squinting of the eyes, with people wondering 'is this really going to replace labor costs'" at the levels needed to justify the investments, Wu observed. Despite AI's importance, "I think everyone's starting to see how this might fall short of the magical" even if its early days, he added. Still, only the rare contrarians believe generative AI isn't here to stay. In five years, "we won't be talking about AI the same way we're talking about it now, the same way we don't talk about mobile or cloud," predicted McLoughlin. "It'll become a fabric of how everything gets built." But who will be building remains an open question.
New Indian Express
01-06-2025
- Business
- New Indian Express
Silicon Valley VCs navigate uncertain AI future
CANADA: For Silicon Valley venture capitalists, the world has split into two camps: those with deep enough pockets to invest in artificial intelligence behemoths, and everyone else waiting to see where the AI revolution leads. The generative AI frenzy unleashed by ChatGPT in 2022 has propelled a handful of venture-backed companies to eye-watering valuations. Leading the pack is OpenAI, which raised USD 40 billion in its latest funding round at a USD 300 billion valuation -- unprecedented largesse in Silicon Valley's history. Other AI giants are following suit. Anthropic now commands a USD 61.5 billion valuation, while Elon Musk's xAI is reportedly in talks to raise USD 20 billion at a USD 120 billion price tag. The stakes have grown so high that even major venture capital firms -- the same ones that helped birth the internet revolution -- can no longer compete. Mostly, only the deepest pockets remain in the game: big tech companies, Japan's SoftBank, and Middle Eastern investment funds betting big on a post-fossil fuel future. "There's a really clear split between the haves and the have-nots," says Emily Zheng, senior analyst at PitchBook, told AFP at the Web Summit in Vancouver. "Even though the top-line figures are very high, it's not necessarily representative of venture overall, because there's just a few elite startups and a lot of them happen to be AI."
