The technology sector just witnessed a seismic shift. With the announcement that Abu Dhabi’s tech investment vehicle, MGX, has raised a staggering US$49 billion for a dedicated artificial intelligence fund, the global tech landscape has officially entered a new era. This is not just another venture capital pool; the Abu Dhabi MGX AI fund represents a massive institutional validation of AI as the defining economic engine of the next century. By eclipsing its original US$45 billion target, MGX isn't merely participating in the tech boom-it is aggressively positioning itself to dictate its direction. What makes the new Abu Dhabi MGX AI fund a game-changer? In my view, the sheer scale of this fund alters the venture capital ecosystem entirely. Raising US$49 billion in a climate where some tech stocks are experiencing volatility shows incredible contrarian conviction. This capital gives MGX unmatched structural leverage. The fund allows Abu Dhabi to anchor the most capital-intensive pr...
Taipei, Taiwan - Taiwan was hit by dozens of earthquakes on Saturday, including a magnitude 6.1 temblor, rattling buildings and spurring people to evacuate to parks, but no major damage was reported.
The strongest quake struck just before 1:40 p.m. local time at a depth of 15.4 km (9.5 miles) in Taitung county in Taiwan's southeast, close to the epicenter of a 6.4 quake two weeks ago, the island's weather bureau said.
A dozen other quakes of varying sizes between magnitude 4 and 5 subsequently hit the same central Taitung region. By late afternoon Saturday, the weather bureau had recorded 48 quakes in the area in total.
"The earthquake was quite strong. The walls of our house were shaking quite badly," said a resident of Taitung city surnamed Lin. "After it passed, we immediately evacuated and are now in the park outside."
Government-issued alerts sent residents' mobile phones blaring as soon as the magnitude 6.1 quake hit, giving early warning. Taiwan's central emergency operation center said there had been no reports so far of serious injuries or damage.
Taiwan lies near the junction of two tectonic plates and is prone to earthquakes. More than 100 people were killed in a quake in southern Taiwan in 2016, while a 7.3 magnitude quake killed more than 2,000 people in 1999.
The central weather bureau warned people in Taitung to be careful of aftershocks in the next two weeks as it could cause further damage. Authorities have urged residents to prepare emergency supplies at home in case of future tremors.
Comments
Post a Comment