Meta underlined an ambitious plan to become "the leading AI company in the world" accompanied by an upswing in spending on AI. AI

Meta is ambitiously positioning itself to become the world’s top AI company, co-aligned with an increase in AI spending. The tech giant’s latest earnings reveal a climbing revenue and expenses, inciting mixed responses from investors. The landscape of optimistic forecasts and increased capital expenditures seems less rosy weighed against lower than expected Q2 revenue forecasts and significant investments into AI infrastructure. CEO Mark Zuckerberg points to an aggressive AI research expansion being instrumental in the fierce race against competitors OpenAI and Microsoft.

Forrit reveals that 89% of marketers and tech leaders are optimistic that Web 3.0 and metaverse can revolutionise interactions with the web. IT

A new study launched by Forrit, the next-generation, global content management system (CMS) provider, reveals that 89% of senior marketers and tech leaders are optimistic that Web 3.0 and the metaverse have the potential to revolutionise the way we interact with the web. However, the report, titled Web O.No: your business’ bleak online future and how to avoid it uncovered that 87% believe the current state of the internet will stunt these innovations – and none of the respondents have websites that are currently equipped for this transformative new internet era.

Nokia has clinched a major deal with Uzbekistan's Perfectum, paving the way for the deployment of Central Asia's inaugural 5G SA network. 5G

Nokia has clinched a major deal with Uzbekistan’s Perfectum, paving the way for the deployment of Central Asia’s inaugural 5G standalone (SA) network. Under this agreement, Nokia will be the exclusive supplier, furnishing Perfectum with a comprehensive end-to-end 5G SA network, including radio access, transport, core networks, and various network automation and service applications.

A decision emerged for a new regulation requiring ByteDance to divest from the social media platform TikTok or risk a US prohibition. Market Watch

The US Senate has made a significant leap forward with a new regulation requiring TikTok’s parent company, ByteDance, to divest from the platform or face a US ban. This move, echoed by President Biden’s support, stems from fears surrounding TikTok’s algorithm and ByteDance’s potential to share American user data with the Chinese Communist Party. However, TikTok’s CEO Shou Zi Chew vehemently denies these allegations.