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Tech 24 - September 22, 2026

Amazon locks out Meta's shopping agent, AMD joins the trillion-dollar club, and Alibaba answers Nvidia with its own chip.

Tech 24 • September 22, 2026

Good morning. Here's what happened in tech over the last 24 hours.

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STARTUPS / BUSINESS • YESTERDAY

AMD Is Now A Trillion-Dollar Company

AMD passed a $1 trillion market cap for the first time yesterday. The stock hit $613.92, up nearly 10% on the day.

That caps a five-day run of about 24%, and a year up more than 180%. AMD is the fourth American chip company to reach a trillion, after Nvidia, Broadcom and Micron.

Two years ago the AI trade was one company. Now it's four. That's a different market, and it changes who holds pricing power next year.

Source: CNBC

Processor on a circuit board
PRODUCTS / LAUNCHES • TODAY

Alibaba Unveiled A New AI Chip And A 20-Gigawatt Plan

Alibaba showed the Zhenwu V900 at its Apsara conference this morning. The company claims three times the performance of the M890 it launched in May.

It also committed to more than 20 gigawatts of global data center capacity by 2032. That is a national grid's worth of compute for one company.

Chinese firms can't buy Nvidia's best parts. So they are building the chip and the power to run it. Watch what that does to Nvidia's China line.

Source: CNBC

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AI / MACHINE LEARNING • YESTERDAY

OpenAI Says Its Model Cracked More Than 100 Open Math Problems

OpenAI set up an independent math advisory group, hosted at Princeton's Institute for Advanced Study, after an internal model reportedly resolved more than 100 long-standing open problems.

The list reportedly includes work on Navier-Stokes, one of the seven Millennium Prize problems. Those carry a million-dollar bounty and have stood unsolved for decades.

Mathematicians need months to check claims like these, which is presumably why the group exists. If even a fraction survives review, the argument that AI can't do original research is over.

Source: TechCrunch

CONSUMER TECH • YESTERDAY

Ireland Fined Google €403 Million Over Location Data

Ireland's Data Protection Commission fined Google €403 million yesterday, about $463 million. The case covers Web & App Activity, Location History and Location Accuracy.

The inquiry ran six years and examined conduct between May 2018 and February 2020. It is the fourth-largest fine the Irish regulator has issued under GDPR.

Google has six months to bring its location processing into line. The money is a rounding error for Alphabet. The compliance order is the part that costs.

Source: BleepingComputer

Wind turbines at sunset
ENERGY / CLIMATE TECH • YESTERDAY

Brussels Wants To Put An Energy Label On Your Data Center

The European Commission proposed rating data centers from A to G on energy efficiency, the same scale Europe uses for fridges and washing machines.

It applies to sites above 500 kilowatts. The first labels are due by 15 August 2027.

Rating a building is simple. Rating one whose workload triples the week someone ships a model is not. Expect a long fight over how the score gets calculated.

Source: European Commission

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CONSUMER TECH • TODAY

Qualcomm Opens Snapdragon Summit This Morning

Qualcomm's keynote starts at 9am Hawaii time from Maui, and the summit runs through Thursday.

The expected reveals are the Snapdragon 8 Elite Gen 6 and a Pro version. These chips go inside most of next year's Android flagships, so the specs set the ceiling for on-device AI across the market.

Watch the keynote. The number worth listening for is how much model you can run locally before the phone gets hot.

Source: Qualcomm

Quick Hits

SoftBank launched an $11 billion junk bond sale to help fund its OpenAI stake. Pricing lands Thursday, settlement the following Tuesday.
Tencent shipped Hunyuan Hy Image 3.5 Preview today, with 4K output and editing across 20 reference images. Its Hong Kong shares rose about 7%.
StepFun opened API access to Step 5 Preview, a 600-billion-parameter model with a million-token context window. Weights follow on October 15.
STAT OF THE DAY
SoftBank's total bet on OpenAI once the next tranche closes
$64.6B
for a stake of roughly 13%

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