New AI Chip; Biotech Breakthrough; Moon Mission Announced

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Will New AI Chip Corner the Market?

Artificial intelligence (AI) semiconductor start-up Sapeon, which is backed by SK Telecom [SKM] and SK Hynix [000660:KS], has launched Sapeon X330, a new chip for data centres, which it said “represents roughly twice the computational performance and 1.3 times better power efficiency” relative to competitors’ products. Elsewhere, Microsoft [MSFT] has unveiled its first homegrown AI chip, the Maia 100.

UK Approves Biotech Breakthrough

ARK Invest has long touted CRISPR gene editing as “biotech’s breakthrough of the century”. On Thursday, the UK became the first country to approve a therapy based on it. The Medicines and Healthcare products Regulatory Agency announced on Thursday that it had approved Casgevy, a sickle cell disease and beta thalassaemia treatment based on CRISPR.

Eli Lilly to Build €2bn Plant in Germany

Pharma giant Eli Lilly [LLY] is to open a new €2bn plant in Germany. According to Reuters, the firm, which has seen soaring demand for its diabetes/weight-loss drug Mounjaro, is to formally announce the plans on Friday. Meanwhile, German regulator BfArM is weighing a ban on exports of Novo Nordisk’s [NVO] Ozempic, as EU health systems struggle with shortages.

Space Start-up Undeterred

“We may not have landed on the moon the first time, but the experience and data we gained are vital,” the CEO of Japan’s ispace [9348:T] told reporters on Thursday, announcing the space start-up’s second attempt to land a rover on the lunar surface. Its first attempt failed in April this year; the follow-up is scheduled for the winter of 2024. The lander will launch on a SpaceX Falcon 9 rocket, Bloomberg reported.

Spotify Expands Use of AI

Sweden’s Spotify [SPOT] has been using AI for more than a decade to tailor musical recommendations. Now it is expanding its partnership with Alphabet’s [GOOGL] Google Cloud, and will use the latter’s AI-powered large language models to identify a user’s listening patterns and then make bespoke suggestions of podcasts and audiobooks.