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_Welcome

Welcome to today's edition of AI Business Weekly. From Canada's billion-dollar commitment to AI sovereignty to China's mandate for domestic chips in government-funded data centers, today's stories reveal AI's transformation into a matter of national strategic importance. As global markets tumble on AI bubble fears and a customer engagement platform secures $100 million in funding, we're witnessing the collision of geopolitical maneuvering, market anxiety, and relentless capital deployment. While governments position themselves for technological independence and accounting firms gain 50% productivity boosts, investors are suddenly questioning whether AI's valuations have outpaced reality. Let's dive in.

Federal Budget Dedicates Over $1B to Boost Canadian AI and Quantum Computing

Ottawa — Prime Minister Mark Carney's first budget proposes providing more than $1 billion over the next five years to build up Canada's artificial intelligence and quantum computing ecosystems while embedding AI technology more deeply in federal government operations. The substantial investment represents Canada's strategic commitment to maintaining its position in the global AI race, building on the country's existing strengths in AI research and talent development. The announcement underscores how AI development has evolved from a private sector innovation race into a national priority requiring government-scale investment and coordination. Read more

Global Stock Markets Fall Sharply Over AI Bubble Fears

Global stock markets have fallen sharply amid mounting concerns that the boom in AI company valuations could be rapidly cooling. Markets in the US, Asia, and Europe declined after bank executives warned that a serious correction could lie ahead, following a run of record highs that left many AI companies appearing overvalued. The market turbulence reflects growing investor anxiety about whether current AI valuations reflect genuine value creation or speculative excess, marking a potential inflection point where sentiment shifts from boundless optimism to cautious skepticism about AI's immediate financial returns. Read more

China Ditching Foreign AI Chips? Report Says New Data Centers With Government Funding Must Rely On Local Ones

Chinese authorities have reportedly instructed data centers that are less than 30% complete to remove all foreign-made AI chips, mandating that all new data centers receiving government funding must exclusively use locally produced artificial intelligence chips. The directive represents a significant escalation in China's push for AI chip independence amid ongoing tensions with Washington and export restrictions on advanced semiconductor technology. The policy underscores how AI chip supply chains have become a critical battleground in US-China technological competition, with both nations seeking to secure domestic production capabilities for strategic AI infrastructure. Read more

With €4 Million in Funding, Kabilio Scales AI Tools Helping Spanish Accounting Firms Lift Productivity by up to 50%

Barcelona — Kabilio, a Barcelona-based company specializing in applying AI to automate accounting and tax processes, has closed a €4 million pre-seed funding round led by Visionaries Club and Picus Capital. The round includes €200,000 in public funding from ENISA, reportedly making it one of the largest pre-seed rounds in Spain. Kabilio's AI platform automates complex accounting and tax workflows, delivering productivity gains of up to 50% for Spanish accounting firms, reflecting investor confidence in vertical AI applications that deliver measurable efficiency improvements in professional services. Read more

AI-Powered Customer Engagement Platform MoEngage Secures $100M in Funding

MoEngage, a customer engagement specialist working with brands including Domino's, Travelodge, and FoodHub, has secured $100 million in funding led by Goldman Sachs Asset Management and A91 Partners, bringing total funding to $250 million. The platform leverages AI to optimize customer interactions across channels. The substantial round demonstrates continued investor appetite for proven AI applications in customer engagement, where machine learning can personalize communications at scale and demonstrably improve conversion rates and customer lifetime value for retail and hospitality brands. Read more

📢 The AI Paradox: Billion-Dollar Bets Amid Bubble Warnings

Today's headlines capture AI's most contradictory moment yet. Even as global markets tumble on fears of an AI valuation bubble, over $1.1 billion in new commitments flow into the sector—from Canada's government declaring AI a national priority to MoEngage's $100 million raise proving enterprise AI's tangible value. China's mandate for domestic chips reveals how AI has transcended business strategy to become geopolitical imperative, with nations willing to sacrifice short-term efficiency for long-term technological sovereignty. Meanwhile, Kabilio's 50% productivity gains in accounting demonstrate that beneath the market volatility lies genuine transformation in how professional work gets done. The disconnect is striking: investors simultaneously panic about overvaluation while deploying record capital, governments race to secure AI independence while markets question AI's near-term returns. What we're witnessing isn't irrational exuberance meeting reality—it's the messy middle of a genuine technological shift where speculation, strategic positioning, and substantive progress coexist uncomfortably. The AI revolution doesn't pause for market corrections.