Welcome back to your daily memorandum talking tech, business, AI, markets, and more. 🗞️

In today’s edition we are tackling the following:

📡 Vietnamese carriers sign 5G contracts with Huawei and ZTE despite U.S. pressure.
🧊 Data centers struggle with extreme cooling demands as AI workloads rapidly expand.
🏦 CME restores forex trading after an outage disrupted Asian derivatives markets.
💳 Nu and Revolut seek Mexican bank licenses to capture rising middle-class demand.
🌍 Haiti gangs armed with U.S. guns pose challenges for incoming Marines.

TECHNOLOGY

• Apple tells EU Commission it meets Digital Markets Act (DMA) thresholds (Reuters)

  • Apple confirmed to EU regulators it qualifies as gatekeeper under DMA for Apple Ads services.

  • The designation triggers strict interoperability requirements and limits on favoring Apple's own apps and services.

  • EU Commission has fortyfive working days to decide whether to designate Apple as gatekeeper.

• Keeping cool from heat: Key challenge for data centers in AI (Reuters)
  ^{_{More: IEEE Spectrum, Schneider Electric Blog}}

  • AI workloads generate unprecedented heat levels requiring advanced cooling systems beyond traditional data center infrastructure.

  • Companies are investing billions in liquid cooling and alternative technologies to manage escalating thermal demands.

  • Energy consumption for cooling now rivals compute power costs as AI model complexity increases significantly.

• Huawei, ZTE seal 5G deals in Vietnam after US tariffs, ties with China warm (Reuters)
  _{^{More: Yahoo Finance, Malay Mail}}

  • Vietnamese carriers signed major 5G infrastructure contracts worth over fortythree million dollars with Chinese firms.

  • The deals mark shift away from Western equipment suppliers following US tariffs and trade restrictions.

  • Vietnam's pivot reflects broader regional trend toward Chinese technology despite security concerns from Washington.

BUSINESS

• China warns of bubble risk in booming AI sector (Yahoo Finance)

  _{^{More: Bloomberg, Digital Trends}}

  • Chinese regulators cautioned about excessive speculation and overvaluation in domestic artificial intelligence companies and startups.

  • Officials cite redundant investment in similar AI models and infrastructure without clear path to profitability.

  • The warning comes as Beijing attempts to balance technological ambition with financial stability concerns.

• CME partially restores operations with restart of forex platform (Bloomberg)

  ^{_{More: CNBC, Fortune, Yahoo Finance}}

  • Chicago Mercantile Exchange resumed currency trading after technical disruption affected multiple trading platforms and systems.

  • The outage impacted forex derivatives markets during Asian trading hours before gradual restoration began.

  • CME confirmed equity and interest rate platforms remain operational throughout the incident with limited exposure.

• Nu, Revolut race for bank licenses in quest for Mexico middle-class wealth (Bloomberg)

  _{^{More: American Banker, PYMNTS}}

  • Digital banking platforms compete for regulatory approval to serve Mexico's expanding middle-income consumer segment.

  • Both fintechs aim to replicate Latin American success by offering fee-free accounts and credit products.

  • Mexican banking market remains underserved with significant opportunity for digital disruption and financial inclusion gains.

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MARKETS

WORLD

• Trump considers immigration pause from 'third world countries' (New York Times)

  _{^{More: NBC News, Bloomberg, CBS News}}

  • Former president proposes temporary halt on immigration from developing nations as part of campaign platform.

  • The policy would significantly expand prior travel restrictions and affect millions of potential visa applicants.

  • Legal experts question constitutional viability while immigration advocates condemn proposal as discriminatory and unprecedented.

• Gangs wielding American guns await U.S. Marines heading to Haiti (Bloomberg)

  ^{_{More: Washington Post, CNN}}

  • Armed groups control large swaths of Port-au-Prince using weapons trafficked from United States sources.

  • Upcoming military deployment faces significant security challenges amid humanitarian crisis and government collapse warnings.

  • Gang violence has displaced hundreds of thousands while crippling essential services and economic activity nationwide.

• Jose Antonio Kast has twenty-point lead in Chile poll (Bloomberg)

  • Far-right candidate commands substantial advantage in presidential race ahead of upcoming Chilean national elections.

  • His platform emphasizes economic stability and security following years of social unrest and constitutional debates.

  • The polling suggests significant rightward shift in voter sentiment after progressive government's economic challenges.

FUTURISM

• OpenAI's financial situation described as 'nauseating' (Futurism)

  • Internal concerns emerge about company's cash burn rate and path to profitability despite massive valuations.

  • Computing costs for training and running AI models continue escalating faster than revenue growth projections.

  • The situation raises questions about sustainability of current generative AI business models and funding requirements.

• Waymo noise complaints surge in Santa Monica neighborhoods (Futurism)

  • Residents report persistent honking from autonomous vehicles at depot locations throughout overnight and early hours.

  • The vehicles apparently trigger horn sounds during parking maneuvers and sensor calibration routines automatically.

  • Local officials are working with Waymo to address disruption as robotaxi operations expand across metro area.

• Agibot humanoid robot demonstrates advanced walking capabilities (Futurism)

  • Chinese robotics company showcased bipedal robot navigating complex terrain and maintaining balance during dynamic movements.

  • The demonstration highlights rapid progress in humanoid locomotion systems rivaling established Western competitors' capabilities.

  • Agibot aims for commercial deployment in manufacturing and logistics applications within next eighteen months.

CONTENT

• The Thinking Game (DeepMind)

  • Five-year documentary follows DeepMind researchers pursuing breakthroughs in artificial intelligence while documenting their scientific challenges and milestones.

  • Focuses on Demis Hassabis’s early experiences and motivations that shaped his lifelong ambition to build general intelligence responsibly.

  • Explores AlphaGo’s success, AlphaFold’s revolutionary protein-folding achievement, and the evolving quest to decode intelligence itself.

• Great reads this holiday season (Bill Gates)

  • Bill Gates recommends a curated mix of nonfiction and fiction titles offering science, history, and storytelling for winter reading.

  • He shares personal reflections on why each book resonated, touching on themes of innovation, resilience, and global understanding.

  • Segment highlights how reading shapes Gates’s worldview and offers inspiration for curiosity-driven lifelong learning during the holidays.

• I’m building an algorithm that doesn’t rot your brain (NYT Opinion)

  • Jack Conte critiques engagement-driven platforms and describes how current algorithms reward harmful content rather than meaningful creativity.

  • He outlines a people-first vision for digital ecosystems built around user well-being, transparency, and sustainable creator monetization.

  • Video reflects on internet culture’s evolution and imagines healthier algorithmic systems prioritizing autonomy, connection, and community impact.

EXTRAS

• MAMA Awards to open with memorial for victims of deadly fire in Hong Kong, donation for relief efforts (Yonhap News)
  _{^{More: Korea Times, Korea Herald, Soompi}} 

  • CJ ENM will dedicate opening ceremony time to commemorate fire victims and donate to relief efforts.

  • Red carpet event canceled while main ceremony proceeds with modified production focused on comfort and hope.

  • All presenters required to wear memorial ribbons as K-pop agencies collectively donated millions to support victims.

• There was no alarm: Hong Kong inferno spread across towers in silence (WSJ)

  • Deadly fire engulfed residential buildings without triggering warning systems leaving residents unaware of danger.

  • Investigation reveals critical safety system failures and potential maintenance lapses in aging housing infrastructure.

  • The tragedy prompts urgent review of fire safety protocols across Hong Kong's densely populated tower blocks.

• 100 Notable Books of 2025 selected by New York Times critics (New York Times)

  • Annual list highlights fiction and nonfiction works spanning diverse genres and voices from the year.

  • Selections include debut authors alongside established writers with emphasis on literary innovation and cultural relevance.

  • The curated collection serves as essential reading guide for book enthusiasts and industry professionals alike.

AND MORE

• Global economic growth forecasts were slightly raised through 2026, led by a stronger outlook for mainland China.

• Many developed market equities posted strong gains in 2025, buoyed by fiscal support and AI-driven corporate earnings.

• Arctic geopolitical rivalries intensify as new sea routes open trade and shipping pathways.

• Delegations from major global companies significantly increased attendance at the 2025 global climate summit in Brazil.

• Breakdown in fossil-fuel phase-out language at global climate talks triggered push for voluntary green roadmaps.

• Severe humanitarian concerns arise in Gaza after reported summary execution of two Palestinian men by border police.

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• Military coup in Guinea-Bissau draws international condemnation demanding reinstatement of constitutional order.

• Two Muslim girls abducted from school in Nigeria’s Kebbi state reignites concerns over local security and education safety.