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first_img British company Nscale establishes a Korean subsidiary to promote more than two AI data centers

According to Seoul Economic Daily on November 12, British artificial intelligence infrastructure company Nscale is advancing the construction of more than two artificial intelligence data centers in South Korea. The company established its Korean entity, Nscale Service KR, in July 2026, responsible for data center investment, development, operation, and management. Nscale was founded in 2024, independently procures graphics processing units, and operates artificial intelligence data centers, with a corporate value of approximately 35 billion USD, equivalent to about 47 trillion Korean Won, and is pushing for a listing in the United States.The project has been confirmed to be located in Gumi, North Gyeongsang Province. The original plan was to construct a phase one artificial intelligence data center with a scale of 300 megawatts as a consortium, but it has since changed to be built separately by Nscale and other participants. The data center for which Nscale is responsible is currently undergoing licensing and preparing to commence construction. The company is also evaluating the addition of data centers in other regions of South Korea, through methods including new site construction, renovation of existing facilities, and leasing data centers from other companies. An industry insider who requested anonymity stated that Nscale has previously renovated old data centers overseas and installed graphics processing server units to reduce capital burdens, and may propose similar collaborations to South Korean companies.Additionally, according to the report, the American cloud company CoreWeave is also advancing the construction of data centers in South Korea and appointed Kim Hyun-sik, who previously worked at Microsoft and SoftBank, as the head of its Korean subsidiary last year. The artificial intelligence data center being built by Amazon Web Services and SK Group in Ulsan is scheduled to begin operations next year, and Microsoft has recently started construction on its third data center in Busan. Goldman Sachs analysis indicates that after the Democratic Party's victories in U.S. state and local elections, about 45% of the planned capacity expansions for artificial intelligence data centers in the U.S. may be affected by regulations. CoreWeave stated in a conference call on November 11 that it is expanding its business in Canada, Europe, and Asia to diversify regional regulatory risks. The South Korean government is promoting differentiated electricity pricing by region and a dedicated electricity pricing plan for artificial intelligence data centers.

first_img Griffin Bank in the UK has completed a $20 million Series B financing and will expand its card issuance and stablecoin business in the future

British bank Griffin has completed a $20 million Series B financing round, led by Octagon Partners, with participation from Notion Capital, A+ Ventures, Nordic Ninja, Breega, and others. The company's valuation exceeds $100 million, though it has not disclosed whether this is pre-money or post-money valuation. Griffin stated that the funds from this round will be used to drive business expansion and achieve profitability.Griffin was founded in 2017 by former Airbnb employee David Jarvis and CircleC co-founder Allen Rohner, and it obtained a full banking license in 2024 and officially launched. Currently, Griffin provides banking infrastructure services to over 80 companies, including Uber, Countingup, Anna Money, Yonder, and Prosper. The company serves over 300,000 retail and business customers, processing approximately 10 million payments annually. As of September 2026, its recurring revenue has increased 3.2 times year-on-year, a figure that has not yet been audited.Griffin co-founder and CEO David Jarvis stated that the company will expand its card issuance and stablecoin business: the card issuance business will support branded retail and corporate debit cards, with credit card products to be launched later; in terms of stablecoins, the company is developing reserve-related services for enterprises and advancing on-chain cross-border payment solutions.

first_img The Japanese government is considering establishing penalties for the out-of-control frontier AI and plans to announce a reform plan by the end of the year

IT Home reported on November 12 that the Japanese government is considering requiring AI companies to fulfill security obligations and introducing new penalties to address the risks of uncontrolled advanced AI. The Japanese government plans to announce a comprehensive reform plan by the end of this year, with relevant content confirmed in a closed working group meeting discussing AI legal systems. This move aims to address significant threats such as AI cyberattacks and loss of control, ensuring that the government can take action against malicious companies that refuse to negotiate.Currently, the business division of AI companies is becoming increasingly detailed, including various aspects such as basic research, foundational model development, and user services. The Japanese government will further discuss the scope of regulatory targets. If American AI large model companies are included in the regulation, how to effectively protect the rights and interests of Japanese users will also become a problem that needs to be addressed. For companies that refuse to cooperate in negotiations after issues arise, the Japanese government plans to issue enforcement orders when necessary and consider imposing penalties on companies that defy these orders. These measures are expected to primarily target incidents of uncontrolled advanced AI and attacks.

first_img Chinese companies reduce eSSD orders, Samsung and SK Hynix increase supply to the U.S

ZDNet Korea reported on November 12 that storage companies such as Samsung Electronics and SK Hynix have decided to allocate additional supplies of enterprise-level solid-state drives (eSSD) that are currently being discussed with Chinese customers to U.S. customers. Major Chinese artificial intelligence companies such as Alibaba, Baidu, and Tencent have decided to reduce the scale of eSSD orders to below expectations, and storage companies are aware of this situation. The report states that after the U.S. strengthened export controls on artificial intelligence to China, the supply of high-performance artificial intelligence semiconductors such as graphics processors and high-bandwidth memory has become difficult, leading to a decrease in the demand for accompanying storage.eSSD is a NAND-based storage module primarily used for data centers, serving as an auxiliary storage device for data preservation. Insiders indicate that the main reason for the order reduction among Chinese companies is the difficulty in supplying artificial intelligence semiconductors. The U.S. government has effectively prohibited companies like NVIDIA and AMD from exporting high-performance artificial intelligence semiconductors to China, and the accompanying high-bandwidth memory is also subject to controls. Previously, Chinese companies had circumvented these controls through overseas entities and product disassembly, but these alternative routes have gradually faced obstacles, causing delays in investment plans.Another insider stated that the adjustment of eSSD supply plans for China by storage companies is true, and the related supply volume plans are being shifted to U.S. cloud service providers. This person noted that the storage demand from U.S. data centers remains robust, and the supply shortage may continue into next year and the year after. Industry insiders say that the tight supply of NAND in global markets such as the U.S. is still ongoing, and the reduced demand in China will be taken up by U.S. data center companies; this adjustment will not have a significant impact on the overall demand for NAND and SSD.
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