The FBI reported over 859,000 internet crime complaints in 2024, with losses reaching $16.6 billion nationwide. Scammers are increasingly using AI-generated deepfakes of athletes like Austin Riley to create fake fan pages that manipulate sports fans into sending money. In Georgia alone, reported losses from these and other internet crimes reached $420 million. The scammers, some operating from locations including Vietnam, recycle fabricated emotional stories across different sports and teams, moving victims into private messages before requesting payment.
China launched China National Data Group Co., a new state-owned enterprise based in Xiongan New Area in Hebei province. Vice-Premier Ding Xuexiang attended the inauguration, calling it a major strategic decision by the party leadership under President Xi Jinping. The company aims to build and manage national data resources, encourage data sharing between sectors, and support China's broader AI development push as Western export restrictions on advanced hardware tighten.
Two Chinese technology companies are seeking a combined $1.5 billion in Hong Kong IPOs. Suzhou Dongshan Precision Manufacturing, a maker of printed circuit boards for AI devices, plans to raise up to $1.4 billion. Changzhou Microintelligence, an industrial-robot maker that incorporates AI, is offering shares to raise up to $799.9 million. Both companies expect to begin trading on the Hong Kong Stock Exchange on October 28.
Tenstorrent, a chip startup focused on inference, raised $1.5 billion at a $6.2 billion valuation, positioning itself as a challenger to Nvidia in the open-weight AI chip market. The 10-year-old company plans to use the funding to scale operations. The round came just five months after the company's previous funding round.
Republic Services is installing AI and automation systems at a new 105,000-square-foot recycling center in Bridgeton, Missouri, expected to open in 2028 and serve 3 million residents. Competitor Rumpke Waste & Recycling already uses AI-guided software with 19 optical sorters at its Columbus facility. The U.S. EPA estimates that 32% of municipal solid waste is currently recycled or composted nationally.
Abiologics, a pioneer in AI protein design, appointed Per Jr. Greisen as Chief Artificial Intelligence Officer. Greisen brings over 20 years of experience in AI and machine learning and will lead the company's efforts to advance its platform for de novo generation of synthetic D-protein, with applications in biotechnology and pharmaceuticals.
Indosat, a major Indonesian telecom company, partnered with F5 to create a single service for managing enterprise AI. The collaboration aims to help businesses deploy and manage AI applications more easily, supporting Indosat's digital transformation goals while expanding F5's presence in the Indonesian market.
The U.S. Army is testing an AI-backed maintenance program called AIAM, developed by Army Communications-Electronics Command. The system digitizes thousands of physical repair manuals into one platform, allowing soldiers to search for repair references, document maintenance issues, and check parts inventory from phones, tablets, or laptops. About 4,000 users have provided feedback, and AIAM has digitized between 200 and 250 technical manuals so far.
A study evaluating 13 large language models on 45,964 Form 10-Q filing events from 2001 to 2024 found that direct LLM forecasts averaged the 43.4th percentile of the analyst distribution and did not consistently beat individual analysts. However, adding cross-sectional fundamental ranks improved return ranking correlation, suggesting LLMs show promise when combined with structured financial data.
Kahua's 2026 Capital Program Maturity Report found that while 84% of surveyed organizations use general-purpose AI tools, only 8% report significant measurable value. The research drew on interviews with capital program leaders across the U.S., U.K., and Canada. Only 22% of respondents have a system of record spanning the full project lifecycle, with poor data quality and fragmented systems remaining major obstacles.
Key Takeaways
- <ul><li>The FBI reported $16.6 billion in losses from internet crime in 2024, with AI-generated celebrity deepfakes targeting sports fans through fake social media pages</li><li>Georgia alone saw $420 million in reported internet crime losses in 2024</li><li>China launched China National Data Group Co. in Xiongan New Area to centralize data resources and accelerate AI development</li><li>Two Chinese AI-related companies seek a combined $1.5 billion in Hong Kong IPOs, including Suzhou Dongshan Precision Manufacturing targeting up to $1.4 billion</li><li>Tenstorrent raised $1.5 billion at a $6.2 billion valuation, challenging Nvidia in the open-weight AI chip market</li><li>Republic Services is building a new AI-powered recycling center in Bridgeton, Missouri, serving 3 million residents by 2028</li><li>Abiologics appointed Per Jr. Greisen as Chief Artificial Intelligence Officer to lead its AI protein design platform</li><li>Indosat partnered with F5 to create a unified service for managing enterprise AI deployments in Indonesia</li><li>The Army's AIAM program has digitized 200 to 250 technical manuals and tested with about 4,000 users for equipment maintenance</li><li>Kahua's report found only 8% of organizations see significant value from AI despite 84% using general-purpose AI tools</li></ul>
AI scammers use celebrity deepfakes to target sports fans
The FBI reported over 859,000 internet crime complaints in 2024 with losses reaching $16.6 billion. Scammers create fake social media pages using AI-generated images of athletes like Austin Riley to manipulate fans emotionally. They move conversations to private messages and request money from victims. One woman lost $2,000 to someone impersonating a Braves player. Experts say generative AI tools make it easy to create convincing deepfakes from publicly available content. Fans are advised to check page creation dates and verification badges before trusting accounts.
AI scammers use celebrity deepfakes to target sports fans
The FBI received 859,532 internet crime complaints in 2024 with total losses of $16.6 billion. In Georgia alone, reported losses reached $420 million. Fake fan pages using AI-generated images of players like Austin Riley trick fans into sending money through emotional manipulation. Ray Waldheim, who runs Atlanta Braves Chop Live with 242,000 followers, sees these scams frequently. AI expert David Schweidel from Emory University warns that generative AI tools have become very good very quickly. Scammers often operate from foreign locations including Vietnam and target every major sports team.
AI scammers use celebrity deepfakes to target sports fans
The FBI reported 859,532 internet crime complaints in 2024 with losses topping $16.6 billion nationwide. Scammers create fake pages like Braves Dugout and Tomahawk Territory using AI-generated images of real players. They post fabricated stories designed to tug at heartstrings and build fake relationships through private messages. Sean O'Malley, co-founder of Atlanta Braves Chop Live, says the same fake stories get recycled across different sports with different players. The scammers are described as very smart and operate from multiple locations. Experts recommend checking page details and being skeptical of direct messages from celebrities.
China creates national data company to boost AI industry
China established a new state-owned enterprise called National Data Group Co. based in Xiongan New Area in Hebei province. The company is tasked with developing data resources and supporting China's AI development. Vice-Premier Ding Xuexiang attended the launch ceremony and called it a major strategic decision by the party leadership under President Xi Jinping. The move is designed to help China seize the initiative in AI development and accelerate the construction of a digital China. The firm aims to unlock the value of data elements and foster a national data industry ecosystem.
China launches state-owned data company to support AI push
China inaugurated China National Data Group Co. in Xiongan New Area in Hebei province on Tuesday. The company brings the total number of centrally administered state-owned enterprises to 100. Vice Premier Ding Xuexiang led the inauguration and called it a major strategic decision by the party leadership under President Xi Jinping. The group will build up and run national data resources and encourage data sharing between sectors and regions to end data silos. Beijing is prioritizing AI development as Western limits on exports of cutting-edge hardware grow stricter. Xiongan is a development zone 100 kilometers southwest of Beijing and a flagship project of Xi.
Chinese AI firms seek $1.5 billion in Hong Kong IPOs amid market volatility
Two Chinese technology companies are marketing shares in Hong Kong to raise a combined $1.5 billion. Suzhou Dongshan Precision Manufacturing plans to raise up to $1.4 billion as a maker of printed circuit boards for AI devices. Changzhou Microintelligence, an industrial-robot maker that uses AI, is offering shares to raise up to $799.9 million. Both companies expect to start trading on the Hong Kong Stock Exchange on October 28.
Study evaluates LLMs on stock market reactions and analyst forecasts
Researchers tested 13 general-purpose and finance-specialized large language models on 45,964 Form 10-Q filing events from 2001 to 2024. The study linked MD&A text to fundamental ranks, pre-filing analyst forecasts, and realized abnormal returns. Adding cross-sectional fundamental ranks improved return ranking correlation. Direct LLM forecasts averaged the 43.4th percentile of the analyst distribution and did not consistently beat individual analysts.
AI tackles recycling challenge at new high-tech garbage sorting facility
Republic Services is installing AI and automation systems at a new recycling center in Bridgeton, Missouri. The 105,000-square-foot facility is expected to open in 2028 and serve 3 million residents. The company's CEO says AI will transform the business broadly. Competitor Rumpke Waste & Recycling already uses AI-guided software with 19 optical sorters at its Columbus facility. The U.S. EPA estimates 32% of municipal solid waste is currently recycled or composted.
Abiologics names Per Jr. Greisen as Chief Artificial Intelligence Officer
Abiologics, a pioneer in AI protein design, appointed Per Jr. Greisen as Chief Artificial Intelligence Officer. Greisen will lead the company's AI efforts to advance its platform for de novo generation of synthetic D-protein. He brings over 20 years of experience in AI and machine learning. Abiologics' platform enables synthetic D-protein generation with applications in biotechnology and pharmaceuticals.
Only 8% of capital program leaders see significant value from AI investments
Kahua's 2026 Capital Program Maturity Report found that 84% of surveyed organizations use general-purpose AI tools, yet only 8% report significant measurable value. The research drew on 50 quantitative survey interviews and five in-depth interviews with capital program leaders across the U.S., U.K., and Canada. Only 22% of respondents currently have a system of record spanning the full project lifecycle. Poor data quality and fragmented systems remain major challenges to realizing AI's full potential.
Indosat and F5 partner to simplify enterprise AI management
Indosat, a major Indonesian telecom company, has partnered with F5 to create a single service for managing enterprise AI. The collaboration aims to help businesses deploy and manage AI applications more easily. Indosat will leverage F5's AI management expertise to improve its services and customer experiences. The partnership supports Indosat's digital transformation goals and helps F5 expand in the Indonesian market.
Army tests AI program to modernize equipment maintenance
The Army is testing an AI-backed maintenance program called AIAM that digitizes thousands of physical repair manuals into one platform. Soldiers can use AIAM on their phones, tablets, or laptops to search for repair references, document maintenance issues, and check parts inventory. The program was developed by Army Communications-Electronics Command and has been refined with feedback from about 4,000 users. So far, AIAM has digitized between 200 and 250 technical manuals to help soldiers fix equipment faster.
Tenstorrent raises $1.5B at $6.2B valuation for AI chips
Tenstorrent, a chip startup focused on inference, raised $1.5 billion at a $6.2 billion valuation. The round came five months after the company's previous funding. Tenstorrent is positioned as a challenger to Nvidia in the open-weight AI chip market. The 10-year-old company plans to use the funding to scale its operations.
Sources
- AI scammers target sports fans with celebrity deepfakes
- AI scammers target sports fans with celebrity deepfakes
- AI scammers target sports fans with celebrity deepfakes
- China creates national data company to turbocharge its AI industry
- China inaugurated a state-owned data company to support its AI push
- Chinese AI Hardware Makers Seek to Raise $1.5 Billion in Hong Kong Listings Amid Volatile Markets
- From SEC Filings to Financial Signals: Evaluating LLMs on Stock Market Reactions and Analyst Forecasts
- AI takes on next challenge vexxing humanity: Sorting trash
- Abiologics Appoints Per Jr. Greisen as Chief Artificial Intelligence Officer
- Only 8% of Capital Program Leaders Report Significant Value From AI Investments, New Kahua Research Finds
- Indosat taps F5 to turn enterprise AI sprawl into a single service
- Army pilots AI-backed maintenance program to digitize manuals, streamline repairs
- Tenstorrent hits $6.2B valuation to scale open-weight AI chips
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