Singapore's solution to unaffordable cars

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Tech Across the Globe

GE Vernova buys AI company: GE Vernova is acquiring French software company Alteia, as the maker of power generation equipment looks to use AI for ways to strengthen the electric grid.

Unhelpful X: Elon Musk's X said it won't comply with French authorities in a probe into alleged bias and manipulation of the social media platform's algorithm.

Helpful Netflix: Netflix is using AI video-generation software from startup Runway AI in production, stirring an issue that has raised concern in the entertainment industry.

Revalued

Booz Allen is putting $200 million into its venture capital arm, aiming to back more defense tech startups. Since the defense contractor's venture group began operations in 2022, it has invested about $100 million in companies such as Firestorm Labs, which makes 3D-printed military drones, and more than a dozen other startups across AI, cyber, quantum and defense tech.

Must Read

Singapore is the world's most expensive place to buy a car, which has created opportunity for a trio of car-sharing apps that are now growing fast. Benicia Tan talks to the founders and CEOs of apps like GetGo to get a sense of how business is going in the city-state, one of the rare places where short-term car hire is going from strength to strength.

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This Week in Power On

Apple's plans to release a foldable iPhone at the end of next year are likely to make it a dominant player in the market, Mark Gurman reports in this week's Power On. Samsung, which has been ahead of the field and recently released its latest Z Fold 7, has prepared consumers for the device and iPhone loyalists now wait for Apple's version rather than switch, he writes.

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