Thierry Breton, internal market commissioner for the European Union, delivers a keynote at Mobile World Congress in Barcelona.
Angel Garcia | Bloomberg | Getty Images
The European Union is looking to co-operate more closely with Japan on key technologies such as artificial intelligence, the bloc’s industry chief said, as the coalition looks to reduce its reliance on China in certain areas.
EU Commissioner Thierry Breton is meeting with the Japanese government on Monday, and artificial intelligence will be “very high” on his agenda, he said in a video posted on Twitter on Sunday.
“I will engage with [the] Japanese government … on how we can organize our digital space, including AI based on our shared value,” Breton said.
Breton also said there will be an EU-Japan Digital Partnership council, to discuss areas including quantum and high performance computing. The EU held a similar council with South Korea last week, in which the two sides agreed to cooperate on technologies such as AI and cybersecurity.
Partnerships with key Asian countries with strong technology sectors come as the EU looks to “de-risk” from China — a different approach from that of the U.S., which has sought to decouple its economy from Beijing.
Part of that EU strategy involves deepening the relationship with allied countries around technology.
Breton told Reuters on Monday that the bloc and Japan will co-operate in the area of semiconductors. Japan is a key country in the semiconductor supply chain, and Tokyo has been looking to strengthen its domestic industry. Last week, a fund backed by the Japanese government proposed to buy domestic chipmaking firm JSR for around 903.9 billion yen ($6.3 billion).
Semiconductors are vital components that go into everything from cars to smartphones and have potential military applications. Countries around the world have been reassessing their supply chains, and some, like the U.S., have looked to bring semiconductor manufacturing back onshore.
Semiconductors are also key to training artificial intelligence models. AI and chips are seen as two key areas of technology for the future, which countries are trying to position themselves to take advantage of.
At the same time, the U.S. in particular has sought to cut China off from critical technologies, such as semiconductors, through export restrictions and Washington has looked to convince European allies to join.
Shares of grocery delivery service Instacart dropped about 7% in extended trading on Wednesday, following a report that said the U.S. Federal Trade Commission has begun an investigation into the company’s pricing practices.
The FTC sent a civil investigative demand to Instacart, Reuters reported, citing unnamed people.
A study released last week showed that prices for the same products in the same supermarkets that work with Instacart can vary by around 7%, which can result in over $1,000 in extra annual costs for customers. Instacart responded by saying that retailers determine prices listed in the app.
In 2022, Instacart spent $59 million to acquire Eversight, a company specializing in artificial intelligence-driven pricing and promotions for retailers and consumer packaged goods. Instacart sought to “create compelling savings opportunities for customers in real-time” with Eversight, according to a regulatory filing.
The FTC and Instacart did not immediately respond to requests for comment.
Jim Cramer implores Amazon not to engage in “sham-like” circular AI deals that remind him of the kind of speculation that fueled the 1990s dotcom bubble that burst more than two decades ago. According to multiple reports on Wednesday, Amazon is in talks about a potential $10 billion investment in OpenAI in exchange for the ChatGPT creator agreeing to use the cloud giant’s custom AI chips. “They really need Trainium chips sold so badly that they give somebody $10 billion to buy them,” Jim said during the Club’s Morning Meeting on Wednesday . “I would love to see them not play this game.” “I really respect Amazon, and this shocks me that they’re willing to put up with this,” Jim said on “Squawk on the Street” earlier Wednesday. “You can’t do these deals. These deals are not real.” Over the past several years, many investors have been sounding the alarm over the growing levels of AI-related spending from megacap hyperscalers to compete in the so-called AI arms race. The push for AI requires the buildout of data centers and high-performance chips to run the systems. Jim said the current spate of interconnected investment activity is similar to deals in the lead-up to the year 2000. “The market is not going to let this happen,” Jim predicted, calling the stock market a “cruel task master,” in a stark warning about excess that drove the tech-heavy Nasdaq to a then-record high in March 2000 and the 78% crash over 2½ years that followed. OpenAI has been on a deal spree in 2025, securing massive amounts of computing power from firms including Nvidia , Advanced Micro Devices , Oracle , and Amazon’s cloud unit. That has amounted to the AI startup making $1.4 trillion in infrastructure commitments in recent months. Jim recently referred to OpenAI’s deal activity as “2000 in a nutshell,” as it continues to make aggressive, leveraged bets, raising concerns about an AI bubble. (Jim Cramer’s Charitable Trust is long AMZN, NVDA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Rohit Prasad, Senior VP & Head Scientist for Alexa, Amazon, on Centre Stage during day one of Web Summit 2022 at the Altice Arena in Lisbon, Portugal.
Ben McShane | Sportsfile | Getty Images
Rohit Prasad, a top Amazon executive overseeing its artificial general intelligence unit, is leaving the company at the end of this year, the company confirmed Wednesday.
As part of the move, Amazon CEO Andy Jassy said the company is reorganizing the AGI unit under a more expansive division that will also include its silicon development and quantum computing teams. The new division will be led by Peter DeSantis, a 27-year veteran of Amazon who currently serves as a senior vice president in its cloud unit.
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