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...
The massive quake shook eastern Russia and far western Alaska. Here's the latest.
Hours after a massive 8.8 magnitude earthquake struck near the Russian coast, becoming one of the strongest tremors ever recorded, tsunami waves arrived in Hawaii and the U.S. West Coast following efforts to get hundreds of thousands away from coastlines and to higher ground.
As the tsunami waves arrived in Hawaii, the water receded 20 to 30 feet on Oahu, according to the Associated Press. Boats were left behind on dry sand as the water pulled out, and although officials said they were still surveying the coastlines, no damage has been reported in Hawaii so far.
In California, tsunami waves as big as 4 feet have been recorded (that one was in Crescent City), and residents were urged to remain off the beaches until further notice.
"We are now seeing tidal swings of 2 to 2.5 feet in as little as 15 minutes," in San Francisco, the National Weather Service's Bay Area office posted on X Wednesday morning. "This can create some seriously dangerous currents along beaches and harbors. It's just a good idea to stay away from the water today!"
Along the West Coast, some tsunami warnings and advisories remained, but by early Wednesday, many of those had been canceled or downgraded.
Happening Now - Russia Volcano Erupts
Lava started flowing from the largest active volcano in the northern hemisphere Wednesday following the earthquake.
The Klyuchevskaya Sopka — which last erupted in 2023 — stands at 15,584 feet in the east of Russia’s Kamchatka region.
Observers heard explosions and saw streams of lava on the volcano’s western slopes, the Kamchatka branch of the Russian Academy of Sciences’ geophysical service said.
Scientists have anticipated an eruption, with the volcano’s crater filling with lava for several weeks and the mountain spitting out plumes of ash.
Sometimes described as the “land of fire and ice,” Kamchatka is one of the most active volcanic regions in the world. It has about 300 volcanoes, of which 29 are active, according to NASA Earth Observatory.
Hawaii - Evacuation Orders Lifted
Authorities in Hawaii downgraded the state to a tsunami advisory as Wednesday began, and evacuation orders on the Big Island and Oahu, the most populated island, were lifted.
“As you return home, still stay off the beach and stay out of the water,” said James Barros, administrator of the Hawaii Emergency Management Agency.
Traffic backed up in some neighborhoods in Honolulu Tuesday evening as residents in Maui were seen evacuating away from the water. Google Maps showed heavy traffic in Oahu as residents moved inland.
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