Advanced Micro Devices Inc. has secured a landmark deal with OpenAI to supply large-scale AI computing infrastructure, positioning AMD as a significant competitor in the highly lucrative artificial intelligence hardware market. The chipmaker states that this agreement could generate tens of billions of dollars in revenue, according to a Bloomberg…
Gold prices surged to a new record above $3,900 an ounce in early Asian trading on Monday, as investors sought safety in the metal amid an ongoing U.S. government shutdown and growing expectations of further interest rate cuts by the Federal Reserve, according to Reuters. Spot gold jumped 0.6% to…
Kazatomprom, world’s largest uranium producer, said it will not issue new shares or pursue an additional public offering. The company confirmed this to Arman Batayev, author of Finmentor.kz Telegram channel. The statement followed a Bloomberg report on Oct. 2 that suggested Kazatomprom was considering an additional listing on international exchanges…
Kazakhstan aims to increase the number of local specialists in senior roles at the company operating the Karachaganak field. This field is one of the world’s largest oil and gas condensate sites, located in the country’s northwest. KazMunayGas (KMG) CEO Askhat Khassenov and Luca Vignati, Eni SpA’s upstream director, discussed…
Businesses in the Halloween sector are struggling under higher U.S. import tariffs on Chinese goods, with increased costs passed on to retailers and consumers, according to CNN. Chris Zephro, co-founder of Trick or Treat Studios in Santa Cruz, California, said his company has already paid more than $800,000 in tariffs…
Samruk-Kazyna, Kazakhstan’s sovereign wealth fund, has appointed an artificial intelligence system to its board of directors, giving it voting rights and decision-making authority. The neural network, known as SKAI (Samruk-Kazyna Artificial Intelligence), was formally introduced on Thursday at the Digital Bridge international forum in Astana, where it was presented to…
Binance Kazakhstan plans to integrate its services into the country’s existing payment infrastructure. The company’s general manager Nurkhat Kushimov told Kursiv.media that users will be able to pay with crypto via QR codes at banking terminals. «Binance has its own tool, Binance Pay, which works on the same principle as…
Tesla CEO Elon Musk has become the first person to surpass a net worth of $500 billion. His wealth briefly hit $500.1 billion Wednesday before edging down to just above $499 billion, according to the BBC. Musk’s wealth primarily rose from Tesla’s stock gains as he owns over 12% of…
The Alem Crypto Fund has launched in Kazakhstan. It was established by the Ministry of Artificial Intelligence and Digital Development and is managed by Qazaqstan Venture Group. The fund is registered with the Astana International Financial Centre. The fund’s primary objective is to invest in long-term digital assets and create…
The first regulated stablecoin pegged to the offshore Chinese yuan, AxCNH, has launched in Kazakhstan. The move is part of China’s effort to utilize blockchain to streamline cross-border trade and reduce its reliance on the U.S. dollar, according to Yang Guang, chief technology officer of China’s state-owned blockchain network, Conflux,…
AstraZeneca will list its shares on the New York Stock Exchange, while maintaining its UK headquarters, its main listing on the London Stock Exchange and its tax base, according to Euronews. The Anglo-Swedish pharmaceutical giant stated that it will replace its current American Depositary Receipts (ADRs) on Nasdaq with a…
The Kazakh startup Higgsfield AI has achieved unicorn status, surpassing a $1 billion valuation. Aleksandr Mashrabov, the company’s co-founder and former head of generative AI at Snap Inc., announced the milestone at Nazarbayev University, according to Digital Business. Higgsfield AI has generated more than $50 million in revenue, officially becoming…
Yellow Cake, a British firm focused on uranium, has raised $175 million by issuing approximately 23 million new shares to institutional investors. With a portion of the proceeds, the company aims to purchase uranium from Kazakhstan. Priced at £5.64 each, the new shares accounted for 10.6% of the pre-transaction capital.…
Kazakhstan has authorized the industrial production of 218 hemp varieties originating from 20 countries, including Russia, the U.S., Canada and Ukraine. The country permits industrial cultivation of cannabis only for uses unrelated to producing or manufacturing narcotic drugs or psychotropic substances. The approved list includes varieties categorized by country of…
NephroPlus, an Indian chain of dialysis clinics specializing in treating patients with kidney failure, plans to invest $10 million to $15 million in projects in Kazakhstan, according to the country’s Foreign Ministry. The agreement was reached during a meeting with Kazakhstan’s ambassador to India, Azamat Yeskarayev. NephroPlus aims to launch…
Kazakhstan has launched its first tenge-pegged stablecoin for use in cryptocurrency exchanges and crypto card payments. The pilot project was rolled out under the National Bank’s regulatory sandbox. National Bank Chairman Timur Suleimenov announced that Intebix, one of the sandbox participants, will issue the tenge-backed stablecoin in partnership with Solana,…
Kazakhstan aims to become one of the top three global sunflower oil exporters by 2028, according to Agriculture Minister Aidarbek Saparov. At a recent government meeting, Saparov said that the industry targets $1 billion in annual revenue by 2028 and seeks to rank among the top three global suppliers of…
Kazakhstan’s bank loan portfolios are expanding much faster than deposits. New minimum reserve requirements taking effect in September are designed to cool this growth. Kursiv Research reviewed the latest statistics (as of Aug. 1, 2025) to assess banks’ preparedness for the new rules and identify which are most and least…
SoftBank Group’s Vision Fund will reduce its global workforce by nearly 20% as it shifts its focus to large-scale artificial intelligence (AI) projects in the U.S. With over 300 employees, the fund confirmed these layoffs as part of a broader restructuring, according to Reuters. This restructuring follows Vision Fund’s strongest…
India’s Securities and Exchange Board (SEBI) has rejected allegations of stock manipulation and financial misconduct against the Adani Group, initially raised by U.S. short-seller Hindenburg Research in 2023, stating there is no evidence to support the claims, according to the BBC. SEBI stated that its investigation revealed no violations of…
In mid-August, Beijing hosted the 10th World Robot Conference, where Shenzhen-based UBtech showcased how humanoid robots can be applied in real-world industrial settings, according to Lianhe Zaobao. The company demonstrated robots that not only handle tasks like sorting, material transfer and quality checks, but can also swap out their own…
China’s technology giant Huawei has unveiled its long-term chip strategy and pledged to release some of the world’s most powerful computing systems, breaking years of secrecy around its chip-related business. Huawei also presented timelines for its Ascend artificial intelligence chips and Kunpeng server chips, highlighting China’s push to reduce its…
Artificial intelligence may be reshaping industries, but it is not yet ready to replace stock market analysts, according to Erlan Abdikarimov, head of research at Freedom Finance Global. «The stock market is too complex to hand over entirely to algorithms,» Abdikarimov said. He explained that effective use of AI requires…
Gold prices surged to a new all-time high of $3,720 per ounce during trading on Sept. 16. Analysts caution, however, that despite the metal’s rapid rise, investors should weigh the risks before jumping in. The real value of goldIndependent financial analyst Aman Alimbayev noted that while gold has repeatedly set…
