International developments span AI investment, energy markets, and European security
Recent global developments include a significant $7.4 billion funding round for Chinese AI startup DeepSeek. Ukrainian drone attacks impacted Russian oil refining, while Russia's oil and gas revenues rose. France's nuclear deterrence proposal sparked debate, and the UK regulated
A Chinese artificial intelligence startup, DeepSeek, is reportedly nearing completion of a $7.4 billion funding round, potentially one of the largest technology investments in China. In Eastern Europe, Ukrainian drone strikes between March and May significantly impacted Russian oil refining capabilities, leading to record low average volumes in April since 2009. Despite this, Russia's oil and gas tax revenues increased by 32.4% year-on-year in May, reaching approximately $9.3 billion, driven by rising global energy prices. Elsewhere, France's initiative to extend its nuclear deterrence across Europe has met with mixed reactions, while the UK's Competition and Markets Authority has mandated Google to implement controls for publishers regarding their content's use in AI Overviews.
Sources: Bloomberg, Forbes Ukraine, Euractiv, Reuters, UK government