Top tech stories today: February 20, 2024

Top tech stories today: February 20, 2024 is profiled by BTW Media because public-source evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.

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1. Microsoft to expand its AI infrastructure in Spain with $2.1 billion investment

U.S. software giant Microsoft (MSFT.O), opens new tab that will expand its artificial intelligence (AI) and cloud infrastructure in Spain through an investment of $2.1 billion in the next two years, the company’s Vice Chair and President Brad Smith said in a post on social media site X. (Reuters)

2. Chinese EV maker Xpeng to hire 4,000, invest in AI

Xpeng plans to hire 4,000 new people and invest 3.5 billion Chinese yuan ($486.2 million) in artificial intelligence technology, according to the company’s CEO. The Chinese electric vehicle maker also intends to launch around 30 new or upgraded cars over the next three years. (CNBC)

3. Hong Kong exchange licensing clarity attracts traditional brokerages

The SFC has granted multiple licenses since the city opened its doors to retail crypto trading last August. Less than a year after Hong Kong regulators approved crypto exchanges, traditional financial institutions and brokerages alike have been keen to obtain their digital asset licenses for trading. (Cointelegraph)

4. Trust in crypto exchange tokens recovers from FTX lows

Centralised exchanges have largely shrugged off the contagion caused by FTX’s bankruptcy in November 2022. Crypto exchange tokens have largely shrugged off their FTX bankruptcy lows and recovered or reached new all-time highs as part of the ongoing bull market. (Cointelegraph)

5. Virginia proposes $39K yearly fund for crypto and AI commissions

The proposal allocates a yearly general fund of $22,048 and $17,192, respectively, to the two newly formed commissions on artificial intelligence and cryptocurrency in the state of Virginia. (Cointelegraph)

6. Vitalik Buterin says AI could help solve Ethereum’s ‘biggest technical risk’

Ethereum co-founder Vitalik Buterin has shared his enthusiasm for AI in helping to identify potential flaws in Ethereum’s codebase. (Cointelegraph)

6. Porsche adds two new hybrids to its lineup of plug-in Panameras

Porsche announced two new plug-in hybrid Panameras, as the German automaker looks to hedge its bets by offering a broader set of electrified options. The Panamera 4 and 4S E-Hybrid offer bigger batteries and better performance than their predecessors. (The Verge)

7. Apple will reportedly face a $539 million fine over Spotify’s antitrust complaint

A Sunday morning report from the Financial Times says the €500 million (about $539 million USD) fine comes after regulators investigated a Spotify complaint that Apple policies prevent iPhone apps from telling users about cheaper alternatives to Apple’s music service. (The Verge)

8. Sony to release a ‘Pro’ version of the PlayStation 5 this year, analysts say

Sony is likely to release a refreshed version of the PlayStation 5 this year, analysts told CNBC, after the company cut its forecast for sales of its flagship console. The move would be designed to boost interest in the PlayStation 5 and offer a souped-up piece of hardware ready for the release of Grand Theft Auto VI in 2025, the analysts said. (CNBC)

9. EU opens formal investigation into TikTok over possible online content breaches

The EU has launched a formal investigation into whether TikTok has broken online content rules including the safeguarding of children. The European Commission said it had opened official proceedings against the Chinese-owned short video platform over potential breaches of the Digital Services Act (DSA). (Reuters)

10. Alibaba bets on overseas e-commerce unit amid sluggish growth in China

One bright spot in Alibaba’s recent December quarter earnings was its international e-commerce business unit which saw revenue increase 44% from a year ago. Alibaba International Digital Commerce Group includes platforms like AliExpress, Lazada, Daraz and Trendyol. Meanwhile, revenue from domestic businesses Taobao and Tmall Group grew only 2% year-over-year. (CNBC)

11. Singapore to impose green fuel levy on flights from 2026

The plans announced at an industry summit on the eve of the Singapore Airshow aim for all departing flights to use 1% sustainable aviation fuel (SAF) from 2026, rising to 3-5% by 2030, subject to global developments and the wider availability and adoption of SAF. (Reuters)