Saudi MCIT and TONOMUS Announce I.D.E.A. Initiative

The Saudi Ministry of Communications and Information Technology (MCIT) and TONOMUS announced The Immersive Digital Environments and Assets (I.D.E.A.) Initiative. (SPA)
The Saudi Ministry of Communications and Information Technology (MCIT) and TONOMUS announced The Immersive Digital Environments and Assets (I.D.E.A.) Initiative. (SPA)
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Saudi MCIT and TONOMUS Announce I.D.E.A. Initiative

The Saudi Ministry of Communications and Information Technology (MCIT) and TONOMUS announced The Immersive Digital Environments and Assets (I.D.E.A.) Initiative. (SPA)
The Saudi Ministry of Communications and Information Technology (MCIT) and TONOMUS announced The Immersive Digital Environments and Assets (I.D.E.A.) Initiative. (SPA)

The Saudi Ministry of Communications and Information Technology (MCIT) and TONOMUS, the NEOM-born cognitive technology company, announced The Immersive Digital Environments and Assets (I.D.E.A.) Initiative.
The initiative, originally showcased during a keynote presentation at LEAP 2024, is envisioned to propel the Saudi immersive technology sector among the leading nations and fuel the Kingdom’s digital economy ambitions as part of economic diversification, realizing Saudi Arabia’s vision 2030, the Saudi Press Agency said.
Through the initiative, MCIT, TONOMUS, and partners will work closely to activate a national partner network to engage policymakers, researchers, technology providers, and end users in the participatory design of ecosystem interventions.
The initiative will create a unified strategic plan and activation roadmap across public- and private-sector partners to jumpstart immersive tech economy development as well as to develop a comprehensive solution blueprint for national immersive tech developments and establish standards to unite a diverse array of technology stakeholders.
MCIT and TONOMUS have already onboarded more than 15 potential partners across Saudi Arabia’s tech landscape and have issued a call to interested organizations to engage.
I.D.E.A. spans immersive experiences, virtual collaboration spaces, industrial digital twin and metaverse applications enabled by the convergence of several emerging technologies, including mixed reality, artificial intelligence (AI), three-dimensional (3D) modeling, and spatial computing, among others.
“The launch of this initiative is a testament to The Kingdom’s ambition to harness technology in building a thriving digital society and economy,” said MCIT Undersecretary for Technology Mohammed Alrobayan.
“For MCIT, this initiative is directly aligned with our objectives of growing the technology sector and supporting localized technology development. The involvement of TONOMUS and our plan for this partner network reinforces MCIT’s support for collaboration across the public and private sectors. We want to be at the forefront of immersive technology and accelerate a new wave of digital transformation”, he added.
“At the core,” said TONOMUS chief commercial officer Yousef Khalili,” this initiative is an effort to develop a local immersive tech ecosystem by driving technology adoption and supporting next-generation tech solutions. This partnership has been more than a year in the making and is based on a shared vision at the intersection of MCIT’s goal to unlock more value for the Kingdom through technology, and TONOMUS’ ambition to be a home-grown cognitive technology champion. TONOMUS is committed to developing innovative, next-generation technology solutions to propel Saudi organizations into the future”.



Trump Media to Merge with Nuclear Fusion Company that Wants to Power AI

FILE - The download screen for Truth Social app is seen on a laptop computer, March 20, 2024, in New York.  (AP Photo/John Minchillo, File)
FILE - The download screen for Truth Social app is seen on a laptop computer, March 20, 2024, in New York. (AP Photo/John Minchillo, File)
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Trump Media to Merge with Nuclear Fusion Company that Wants to Power AI

FILE - The download screen for Truth Social app is seen on a laptop computer, March 20, 2024, in New York.  (AP Photo/John Minchillo, File)
FILE - The download screen for Truth Social app is seen on a laptop computer, March 20, 2024, in New York. (AP Photo/John Minchillo, File)

Trump Media & Technology will merge with a fusion power company in an all-stock deal that the companies said Thursday is valued at more than $6 billion.

Devin Nunes, the Republican congressman who resigned in 2021 to become the CEO of Trump Media, will be co-CEO of the new company with TAE Technologies CEO Michl Binderbauer.

The combined company says it plans to find a site and begin construction next year on the “world’s first utility-scale fusion power plant,” with aims to provide the electricity needed for artificial intelligence.

Shares of Trump Media & Technology, the parent company of President Donald Trump's Truth Social media platform, have tumbled 70% this year but jumped 20% before the opening bell Thursday.

Backed by Google and other investors, TAE is a private company and the merger with Trump Media would create one of the first publicly traded nuclear fusion companies.

“We’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations," The Associated Press quoted Nunes as saying in a prepared statement.

TAE focuses on nuclear fusion, a technology that combines two light atomic nuclei to form a single heavier one. It releases enormous amount of energy, a process that occurs on the sun and other stars, according to the United Nations' International Atomic Energy Agency. It's been seen as a promising solution to climate change caused by burning fossil fuels, but one that is a long way off compared to today's clean technologies like wind and solar.

TAE and Trump Media shareholders will each own approximately 50% of the combined company.

Trump is by far the largest stakeholder in Trump Media, owning 41% of all outstanding shares.

In October, the US Department of Energy released what it called a “roadmap” for fusion technology, with the aim of fostering “a burgeoning fusion private sector industry in the US toward maturity on the most rapid timeline.”

A number of tech companies, including Google, Microsoft and OpenAI CEO Sam Altman, have shown interest in fusion technology as a way of powering the energy-hungry data centers needed to build and run their AI products.

TAE and Trump Media say the transaction values each TAE common stock at $53.89 per share.

At closing, Trump Media & Technology Group will be the holding company for Truth Social and TAE, along with its subsidiaries TAE Power Solutions and TAE Life Sciences.


Brazil to Get Satellite Internet from Chinese Rival to Starlink in 2026

Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
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Brazil to Get Satellite Internet from Chinese Rival to Starlink in 2026

Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado

Chinese low Earth orbit satellite company SpaceSail will start providing internet access to remote areas in Brazil in the first half of 2026, President Luiz Inacio Lula da Silva's chief of staff, Rui Costa, said on Wednesday, Reuters reported.

SpaceSail and Brazil's state-owned telecom Telebras had signed a memorandum of understanding in late 2024 to offer satellite internet services for schools, hospitals and other essential services in the South American country.

SpaceSail competes directly with Elon Musk's Starlink in the satellite internet market.


Google Launches First Ever Co-branded Credit Card in India

FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
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Google Launches First Ever Co-branded Credit Card in India

FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo

Alphabet Inc's Google Pay launched its first co-branded digital credit card in India on Wednesday in partnership with Axis Bank, intensifying efforts to monetize its massive user base in the country's crowded fintech sector.

WHY IT'S IMPORTANT

While Google Pay is a dominant player in India's popular domestic payments network, the Unified Payments Interface (UPI), its core service generates zero revenue from user-to-user payments due to government mandates. It, however, earns commissions for in-app services like bill payments and mobile recharges, Reuters reported.

The credit card launch opens a new avenue for Google to monetize its user base, mirroring strategies by domestic rivals Paytm and PhonePe to cross-sell lending products to payment users.

BY THE NUMBERS

India has just 50 million credit card holders, according to Google Pay, whereas its population exceeds 1.4 billion.

Google Pay meanwhile is the second top app in India by number of UPI transactions, having processed nearly 7.2 billion transactions in October alone.

HOW IT WORKS

Axis Bank manages the credit risk and issuance, while the digital-only card will be linked to the Google Pay app to make online and offline payments on the go.