Tuesday, 24 March 2026
Silicon Valley's alliance with the Trump administration will be highlighted at the Hill and Valley Forum in Washington, where business leaders, including JP Morgan Chase CEO Jamie Dimon and OpenAI COO Brad Lightcap, will advocate for maintaining the US's leadership in artificial intelligence. This comes amid rising public concerns regarding AI's economic impact and its implications in the Iran war.
Elon Musk announced plans for a collaboration between Tesla and SpaceX to establish an advanced chip manufacturing facility in Austin, Texas, as part of his Terafab project. The facility aims to produce chips capable of supporting 100 to 200 gigawatts of computing power annually on Earth and a terawatt in space, addressing the semiconductor supply issues faced by his companies in meeting their artificial intelligence and robotics needs. Musk did not provide a timeline for the project's completion.
Nscale, a UK data center developer, achieved a valuation of $14.6 billion following a $2 billion funding round, making it one of Europe's most valuable startups. Former Meta COO Sheryl Sandberg has joined its board, marking one of her first significant roles since leaving Meta's board in 2024.
Jürgen Hatheier, Ciena’s vice president of business development, revealed that half of the most expensive AI chips are currently unused, highlighting inefficiencies in data handling within the AI infrastructure. Major tech companies are projected to continue increasing capital expenditure on data centers, with investments running into the hundreds of billions as they seek to scale AI systems. The dominance of Taiwan Semiconductor Manufacturing Co. (TSMC), which controls 72% of the global pure-play semiconductor foundry market, underscores the critical bottleneck in AI chip production, as it produces 90% of the world's most advanced semiconductors.
Alibaba Group unveiled its latest central processing unit (CPU) for artificial intelligence applications, the XuanTie C950, on March 24, 2026, in response to the growing demand for AI technologies driven by the popularity of OpenClaw in China. The CPU, based on the RISC-V architecture, is optimized for cloud computing and allows customization for specific inferencing needs. Alibaba's chip subsidiary, T-Head, aims to compete with Nvidia and Huawei Technologies as it prepares for a separate listing of its chip unit.
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