Daily brief
AI pioneer Yann LeCun has raised over $1 billion for his new startup, Advanced Machine Intelligence (AMI), in what is described as Europe's largest seed funding round. The French-based company aims to develop AI systems that understand the physical world, offering an alternative approach to current models like ChatGPT. LeCun is a former chief AI scientist at Meta.
Slovak Prime Minister Robert Fico promoted Russian energy at an event in Paris, while French President Emmanuel Macron stated nuclear power is key to 'independence and energy sovereignty'.
G7 energy ministers have asked the International Energy Agency to prepare scenarios for a potential release of strategic oil stockpiles, stopping short of ordering an immediate release.
French automaker Renault announced plans to reduce its reliance on the European market as it faces intense competition from Chinese manufacturers.
ECB President Christine Lagarde stated the central bank will not allow a repeat of the last inflation shock.