NEW DELHI: Indian Prime Minister Narendra Modi has backtracked from his proposed visit to Malaysia at the weekend to attend an Asean-related summit, joining the discussions “virtually” instead, it was officially announced on Friday. The opposition Congress party blamed the change of plan on Mr Modi’s fear of meeting President Donald Trump. The annual summit of the Association of Southeast Asian Nations, a 10-nation grouping, as well as associated meetings, will be held from Oct 26 to 28 in Kuala Lumpur. The Hindu said the Ministry of External Affairs (MEA) had not provided any reason for Mr Modi’s decision, though the paper quoted Malaysian Prime Minister Anwar Ibrahim as saying that Mr Modi had cited the “ongoing Deepavali celebrations” as the reason for the change in plans. The MEA announced that External Affairs Minister S. Jaishankar will represent Mr Modi and lead the Indian delegation at the East Asia Summit in Kuala Lumpur on October 27. Asean is a key pillar of India’s Act East Policy and Asia-Pacific...
The Bank of England is worried that a rise in financiers' lending to data center lending may cause an AI bubble reminiscent of the dot-com crash in the early 2000s. The Bank of England is investigating the rise of financiers lending to data centers as a way to speculate on the future of AI, Bloomberg said. The UK’s top bank has already been examining market risks that could arise if AI companies fail to meet lofty valuations, warning that many could come crashing down in a correction reminiscent of the dot-com bubble in the early 2000s. Now, it is exploring the relationship between AI companies and financiers that are looking to place bets in the AI market, Bloomberg reported on Friday. Read more
The Bank of England is worried that a rise in financiers' lending to data center lending may cause an AI bubble reminiscent of the dot-com crash in the early 2000s. The Bank of England is investigating the rise of financiers lending to data centers as a way to speculate on the future of AI, Bloomberg said. The UK’s top bank has already been examining market risks that could arise if AI companies fail to meet lofty valuations, warning that many could come crashing down in a correction reminiscent of the dot-com bubble in the early 2000s. Now, it is exploring the relationship between AI companies and financiers that are looking to place bets in the AI market, Bloomberg reported on Friday. Read more