Middle Eastern operators Zain Group and Ooredoo Group officially launched a joint venture tower platform after closing the first phase of the transaction by combining portfolios in their home markets.

The operators stated they have brought together the assets of Zain Kuwait and Ooredoo Qatar, comprising 4,000 towers in total.

They each own a 50% stake in the platform.

Announced in 2023, the tower company was pitched as the largest of its kind in the MENA region, with a combined value of $2.2 billion.

At the time, the companies and UAE-based TASC Towers stated the entity would comprise nearly 30,000 towers in Qatar, Kuwait, Jordan, Tunisia, Iraq and Algeria.

In the latest statement, the companies highlighted how the transaction is expected to create significant value through greater scale, capital efficiencies and a dedicated operating model focused on passive telecoms infrastructure.

Additional towers are expected “to be integrated progressively into the platform”, subject to closing conditions and regulatory approvals.

They further pointed to opportunities for operators to access infrastructure in a more capital-efficient manner while supporting the region’s digital infrastructure.

Zain CEO Bader Al-Kharafi said the first closing of the tower platform “reflects our shared strategy of creating focused, scalable and sustainable platforms”.

Ooredoo counterpart Aziz Aluthman Fakhroo added it is “now executing across every digital infrastructure segment identified in our strategy as we continue building a leading regional portfolio”.

The post Zain, Ooredoo close first phase of tower venture appeared first on Mobile World Live.

INTERVIEW: Nokia chief technology and AI officer Pallavi Mahajan and Nvidia SVP of telco Ronnie Vasishta told the Mobile World Live Podcast their AI-RAN partnership is showing tangible progress, as they announced close to 20 operators are lined up for lab and commercial trials of the technology.

In an exclusive interview to outline progress of their efforts, Vasishta and Mahajan highlighted the fact it had only been 12 months since the two companies announced a joint AI-RAN partnership, which included a $1 billion investment from Nvidia into the Finnish vendor.

A year on, today (21 October) at Nvidia’s GTC 2026 event in Berlin the duo announced almost 20 operators globally have committed to AI-RAN collaboration, including 10 from EMEA. Mahajan said these operators are at different stages, lined up for both lab and commercial trials.

In 2027 trials are expected from BT Group, Deutsche Telekom and Elisa, with the latter preparing for commercial deployment.

In the US, T-Mobile has completed what was claimed as the world’s first AI-RAN call on a live network, while in France Orange is introducing new voice and intelligence services for enterprises based on the technology.

Speed of light
Vasishta told MWL it was hard to overhype development based on the progress it had seen over the past year, and the number of trials and deployment is only set to grow.

“A year ago, or two years ago for sure, I think people would have scoffed at the idea. Nokia talking about operator commercialisation with AI-RAN, I think, that would have been perhaps seen as somewhat sceptical.”

Mahajan concurred, describing the pace of development as occurring “at the speed of light” with the game changer centred on being able to outline the true “value of what AI brings in terms of making RAN efficient” such as significant spectrum efficiency gains.

“In the next few years, the distinction between the networks and computing infrastructure will just blur,” she said, inevitably opening up a host of operator opportunities across applications beyond 5G and 6G.

Vasishta added Nvidia had started on the journey of software-defined RAN eight years ago and the inclusion of Nokia in 2025 had accelerated this dramatically.

“We see all operators around the world are created differently. They service different markets, they have different DNA, but overall, all of them have gravitated towards this concept now of AI RAN.”

Click here to listen to the full interview.

The post Nvidia, Nokia claim AI-RAN hype is justified as momentum grows appeared first on Mobile World Live.

With Nvidia’s GTC Berlin event in full swing, the company’s telecoms boss Ronnie Vasishta and Nokia chief technology and AI officer Pallavi Mahajan sit down with the Mobile World Live Podcast in an exclusive interview to reveal the next stage of the pair’s AI-RAN journey, as they team up with European heavyweights to turn networks into distributed intelligence platforms.

Listen on Spotify
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00:00 — AI-RAN explained
7:20 — Operator trials
11:00 — Beyond edge hype
15:05 — AI-RAN economics
17:45 — Sovereign AI
21:10 — Commercialisation and 6G

The post Podcast: Exclusive – Nokia, Nvidia advance AI-RAN at GTC appeared first on Mobile World Live.

Nokia agreed a deal with SoftBank Corp to conduct an AI-RAN field trial in commercial traffic conditions in 2027, progressing efforts to validate the technology.

The Finnish vendor stated the trial in Japan would be an important step in SoftBank’s AI-RAN ambitions by assessing the approach in a live network environment.

For Nokia, the trial also advances its AI-RAN commercialisation roadmap by shifting the technology from laboratory development to real-world deployment.

Nokia explained it will combine its AI-native anyRAN cloud RAN software on SoftBank’s core AI-RAN platform AITRAS, along with Nvidia’s ARC platform.

Through a combination of the platforms, Nokia stated AI-RAN would bring radio and AI workloads on to a common platform, helping operators “improve infrastructure utilisation, acceleration innovation and unlock new revenue opportunities”.

Nokia and SoftBank already have an AI-RAN deal in place, backed by an Nvidia accelerated computing node.

SoftBank SVP and CTO Ryuji Wakikawa said the trial is a significant milestone in the transition of AI-RAN from concept to execution.

“We are excited to begin this next phase of validation with Nokia, paving the way for a new era of networks that can deliver both connectivity and AI services.”

Pallavi Mahajan, chief technology and AI officer at Nokia, pointed to the potential for AI-RAN to “unlock new levels of spectral efficiency while providing the distributed intelligence needed to support physical AI”.

The post Nokia, SoftBank plot commercial AI-RAN trial appeared first on Mobile World Live.

Deutsche Telekom, Orange, Telefonica and Vodafone Group signed a letter of intent to explore a joint bid for a future allocation of spectrum for Mobile Satellite Services, as part of efforts to advance direct-to-device (D2D) capabilities in Europe.

The operators jointly stated their initiative backs a European Commission (EC) ambition to strengthen sovereignty, security and resilience in critical connectivity infrastructure.

News of a potential joint bid emerged last month when Bloomberg reported the four had entered discussions to bid on a third of the total spectrum due to be allocated by the EC in the 2GHz band, which has been reserved for European companies.

In a pitch heavy on the advantages of working together, the quartet explained a joint bid for spectrum would enable each provider with open and non-discriminatory access to offer D2D to customers in a model designed to “foster competition, reduce market fragmentation and expand consumer choice across Europe”.

They aim to use satellite to connect underserved areas, strengthen public networks, protect critical communications and support the development of a European constellation.

The operators plan to establish key ground infrastructure, critical coordination and monitoring functions without investing directly in a satellite constellation.

This opens the door to a partnership with a satellite partner, which is yet to be selected.

Execution
The letter of intent does not replace any existing satellite partnerships.

Vodafone’s satellite activity is particularly high-profile, with the company involved in a joint venture with US-based AST SpaceMobile.

Paolo Pescatore, analyst at PP Foresight, said the announcement is more an exploratory agreement rather than a confirmed launch.

“The opportunity is to make satellite coverage a seamless extension of mobile connectivity. Success will depend on execution, device compatibility and pricing that gives customers a compelling reason to pay, along with reassurance that they can stay connected in more places.”

The post European operators confirm satellite spectrum move appeared first on Mobile World Live.

In the third episode of our special series focused on digital industries, Mobile World Live’s Michael Carroll is joined by experts from Shipsider, Kaiko Systems and GSMA Intelligence to explore the role of connectivity in operating ships at sea and in port.

00:00 – Maritime digitalisation
04:05 – Connecting ships at sea
07:10 – Dark ships and GPS spoofing
12:30 – Hybrid networks and LEO satellites
20:45 – Vessel IoT and cybersecurity
29:00 – Crew connectivity and Q&A

The post Podcast: Testing the connectivity waters appeared first on Mobile World Live.

Reliance Industries appeared to hit back at Elon Musk’s suggestions its owner Mukesh Ambani (pictured) was blocking Starlink’s entry into India, stating it welcomes competition and pointing out its own satellite venture has also not been cleared by regulators.

In a statement on Musk-owned X, Reliance said considering recent remarks about the company and the Indian market, it wished to put on record that like every Indian enterprise it had grown in a country that welcomes investment and innovation.

It continued to state the open nature of the Indian market rests on the rule of law, and the government has stated it applies the same process to every applicant, Indian or foreign.

“Jio’s own satellite service awaits clearances,” it said. “At Reliance we never feared competition… we welcome competition in satellite communications, including Starlink. Every player, Jio included, must serve the people of India and abide by the laws and policies of the land.”

Reliance’s statement followed a series of Musk’s own posts regarding Starlink’s entrance into India. The SpaceX chief claimed “certain oligarchs” were delaying its entry into the country to maintain a “monopolistic chokehold on the Indian people”.

While emphasising the benefits satellite connectivity will have on the Indian market, Musk sarcastically addressed Ambani as India’s real Prime Minister and asked if he would “consider allowing Starlink to compete”.

Musk also described suggestions Starlink would struggle to compete with Jio and its low-cost data plans as “absurd, hypocrisy and hyperbole”.

India’s government has also rejected Musk’s claims, stating its satellite communications framework is fair and non-discriminatory while emphasising that Starlink, Jio and Sunil Bharti Mittal-backed Eutelsat OneWeb are all awaiting security clearance and spectrum allocation.

The post Reliance snaps back at Musk over Ambani claims appeared first on Mobile World Live.

The global smartphone market declined at a record level in Q3 2026 according to the latest figures from IDC, with shipments dropping 22% due to the ongoing AI-led memory crisis.

The research company found shipments fell at the highest year-on-year level of any quarter to date, shrinking to 255.3 million units.

Nabila Popal, senior research director at the research company, said the sharp downturn the industry had been bracing for “finally materialised”, and warned the worst is yet to come.

“Current indicators suggest that market has not yet reached the bottom. Memory costs have surged approximately 350% since last year and are still rising, creating substantial pressure on vendor margins and shipments.”

She added while memory inflation is beginning to slowdown, “costs remain elevated across other critical components as well, compounding the crunch”.

To that end, market growth is expected to be constrained through 2027 and any possible recovery pushed to 2028 at the least.

Individual vendor rankings remained similar to the last quarter. Samsung and Apple continued to gain market share with 22.6% and 22.4% respectively, even though both companies’ quarterly shipments dropped.  

Rounding out the top five companies, Xiaomi, Vivo and Oppo all experienced double-digit market share drops.

Kiranjeet Kaur, associate research director for Worldwide Devices at IDC, added despite sluggish sales some vendors raised production plans ahead of an expected tightening in component supply next year.

“If demand remains weak, this could lead to inventory build-up heading into 2027, adding a further downside risk to our 2027 forecast,” she said.

The post Smartphone shipments tank to record quarterly low appeared first on Mobile World Live.

Ericsson posted a healthy Q3 2026 revenue rise with its performance boosted by higher sales in its Network division and effective efficiency measures, although new CEO Per Narvinger (pictured) warned of potential headwinds over the next year.

Overseeing his first results announcement since taking the helm from Borje Ekholm last month, former Networks chief Narvinger said he spent the quarter meeting customers and a consistent theme emerged: “the need for more intelligent and autonomous networks to improve performance, efficiency, robustness and resilience.”

Looking ahead, he added: “the RAN market is flat, geopolitical uncertainty remains elevated, and component costs are a headwind to gross margin next year.”

Narvinger believes through disciplined actions and prioritising technology leadership, the company remains well positioned “to navigate these challenges and deliver profitable long-term growth”.

Revenue for the period rose 6% year-on-year to SEK59.5 billion ($6 billion), with sales from Networks up 9% to SEK38.7 billion. Cloud Software and Services increased 3% to SEK15.8 billion, while Enterprise sales dropped 10% to SEK4.6 billion, reflecting the divestment of iconectiv.

Breaking out geographical markets, sales grew in most markets including Asia and Europe, but offset by the Americas with struggles in Latin America.

IPR licensing revenue hit SEK3.9 billion from SEK3.1 billion, driven party by retroactive revenue to previously unlicenced products.

Net income declined 49% to SEK5.8 billion.

Group restructure
Alongside the results announcement, the Swedish vendor outlined a revamped group structure, intended to utilise its R&D capabilities and target cost efficiencies.

The revamp will see a new Asia-Pacific Market Area established from the start of 2027, combining Market areas North East Asia and South East Asia, Oceania and India. It claims this will enable Ericsson to operate more effectively across the region.

The division will be headed by Patrick Johansson, currently boss of Market Area Europe, Middle East and Africa. A process has started for his successor in EMEA.

It is also shaking up Business Area Enterprise Wireless Solutions to put more focus on indoor solutions, while moving the current portfolio of the unit to other parts of Ericsson, including Networks.

The post Ericsson Q3 fuelled by strong mobile Networks sales appeared first on Mobile World Live.

Japan will pump $20 billion in funding into two new semiconductor facilities in the US as part of a trade agreement between the two countries, with GlobalFoundries selected to operate the sites.

The move forms part of a wider trade deal between the countries for Japan to invest $550 billion in return for the US lowering tariffs of Japanese goods.

GlobalFoundries will build the new sites at its Malta, New York, campus with the initiative designed to accelerate trusted semiconductor manufacturing in the US, strengthen critical supply chains and support growing demand across automotive, industrial and connected infrastructure markets.

Japan will make an initial investment of approximately $10 billion, accelerating construction of a new 300mm semiconductor fab which is expected to come online in 2029. It will add approximately 900,000 wafers of annual manufacturing capacity when fully operational.

An additional $10 billion will fund a second fab, which will produce the same amount of wafers. The entire project is expected to create about 27,000 construction and ecosystem jobs and more than 1,000 highly skilled manufacturing jobs in New York’s Capital Region.

Bold
GlobalFoundries has also agreed a deal with the US Commerce Department to amend an existing award under the CHIPS and Science Act to reallocate $995 million towards investments in silicon photonics and other areas. This will expand manufacturing capacity for technologies “increasingly critical to communications infrastructure and data centres”.

As part of a separate arrangement, the US government will receive approximately 4% equity in GlobalFoundries, taking its total stake to 7%.

Tom Breen, CEO of GlobalFoundries said the initiative was a bold new step for semiconductor manufacturing, bringing together the US and Japan with differentiated technology and decades of manufacturing expertise.

Howard Lutnick, US secretary of commerce added President Donald Trump’s historic US, Japan trade deal “is delivering another massive manufacturing investment into America”.

The post GlobalFoundries to run Japan, US $20B chip sites appeared first on Mobile World Live.

AT&T sealed a deal worth $2 billion to sell its business in Mexico to Grupo Televisa and Fintech Holdings, ending a decade long battle to gain ground in the country that is dominated by Carlos Slim’s America Movil.

AT&T stated the sale represents another step in a wider strategy to prioritise investment in US fibre and wireless networks, an area where it continues to make “meaningful progress”.

The US operator entered Mexico in 2015 following major regulatory reform, acquiring operators Iusacell and Nextel for a total $4.4 billion, which it merged to establish the AT&T Mexico brand.

It decided to offload the business last year and a $2 billion deal was mooted by Bloomberg.

In its statement, AT&T claimed it had grown the business into one of the country’s leading providers, and it believes Grupo Televisa and Fintech Holdings are well positioned to lead it through the next phase of growth.

Both companies will take an equal share in AT&T Mexico and means Grupo Televisa will become the first provider in the country to offer mobile, internet, pay-TV and fixed line services.

America Movil owned Telcel has around a 58% market share, while AT&T Mexico has around 16% with 24.7 million wireless subscribers as of 31 December 2025.

John Stankey, AT&T chairman and CEO, said it had articulated a strong belief that the AI future will run on converged networks and dense fibre assets.

“This move positions AT&T Mexico to participate in that evolution and is consistent with our long-term strategy to focus our capital allocation on opportunities for growth in the vibrant US market,” he added.

The deal is expected to be completed in the first quarter of 2027 following regulatory approvals.

Telefonica also sold off its business in Mexico, striking a $450 million deal with a consortium of investors in April.

The post AT&T strikes $2B sale to exit Mexico appeared first on Mobile World Live.

India’s Adani Enterprises Limited and Apple supplier Jabil signed a memorandum of understanding (MoU) to form a 50:50 joint venture, tasked with manufacturing AI and data centre equipment in the country.

The JV is the next step on from a deal struck by the duo in June 2026 to form a strategic alliance to develop an AI and data centre infrastructure manufacturing ecosystem.

Once established, the pair stated the venture will supply hyperscalers, neoclouds, data centre operators and enterprises, serving accelerating data centre demand.

The companies cited industry forecasts which project India’s AI capacity will reach between 5 gigawatts to 8 gigawatts by 2030 and more than $50 billion in planned hyperscale spending across data centre, cloud and AI ecosystems.

In total, the pair peg the global market opportunity at more than $3 trillion over the next seven years, driven by investment in AI computing.

The duo will look to cash in on this demand by providing a manufacturing base in the country to serve domestic demand and support exports.

Adani Group, which runs the enterprise division, has made a $100 billion commitment to develop 5 gigawatts of green-energy powered, hyperscale AI-ready data centres by 2035, and the proposed venture adds hardware manufacturing to the group’s presence across infrastructure, energy and logistics.

Jabil makes components for Apple and will use the JV to expand its engineering footprint across India. It reported revenue of $36 billion in fiscal 2026.

Gautam Adani, chairman of Adani Group, said “the AI revolution will demand far more than just breakthroughs in algoritms” and the proposed JV would “help build the physical backbone of the global AI economy”.

The post Adani, Jabil form India AI hardware JV appeared first on Mobile World Live.

Nokia signed an agreement to sell its Enterprise Campus Edge (ECE) business to investment company Aurelius Group, a move the Finnish vendor stated sharpens its portfolio and directs capital to areas earmarked for long-term value.

Value of the planned transaction was undisclosed and Nokia expects the deal to close in the first half of 2027, subject to customary closing conditions.

Nokia this month also completed a deal to sell its fixed wireless access (FWA) CPE business to US broadband vendor Inseego.

Under Aurelius’ ownership, Nokia said ECE will continue to operate as a standalone business but benefit from greater independence and a dedicated strategic focus. Employees are expected to transfer with the business, in accordance with applicable local laws and processes.

ECE has a big presence in the private wireless market, serving almost 900 customers across industries including manufacturing, mining, logistics, airports, ports and power generation worldwide.

Its portfolio also includes industrial devices, on-premises operational technology, edge and micro-edge solutions and software applications to power industrial AI use cases.

Konstanty Owczarek, chief corporate development officer at Nokia, said the deal provides ECE a strong foundation for growth. “Our priority throughout the transition will be continued growth of the business and continuity for existing customers and employees,” he added.

The post Nokia offloads Enterprise Campus Edge unit appeared first on Mobile World Live.

Indian IT firm HCLTech struck an agreement with Anthropic to establish a separate business unit designed to accelerate enterprise adoption of agentic AI, with a focus on safety, cybersecurity and governance.

HCLTech stated its services team will build industry solutions and offerings powered by Anthropic’s Claude, Cowork and Claude Code, while its HCLSoftware business unit will embed these capabilities into select enterprise products.

The company will further establish a dedicated “Anthropic Business Unit and Centre of Excellence” to accelerate use of Claude in enterprise environments, providing secure sandbox environments to enable development.

Clients will also be aided by the partnership with the adoption of AI-native engineering practices, training workforces and building organisational capabilities to operate agentic AI safety at scale.

As what is known as an Independent Software Vendor (ISV) partner, HCLSoftware will be given access to advanced models. It cited select products across cybersecurity, automation, business process application and application development as services that will benefit from advanced Claude capabilities.

Claude will also be used across IT support and for digital employee services, workflows supported by policy guardrails, exception handling and human oversight for high-impact changes.

CEO and managing director at HCLTech, C Vijayakumar, said few technology companies can combine the scale of a global systems integrator with the product depth of an ISV.

“That gives us a rare advantage to securely engineer and deploy Agentic AI at scale and deliver the business outcomes that matter most to our clients.”

HCLTech’s deal with Anthropic follows an agreement worth $1.1 billion in July with a major unnamed European company to deploy AI services and boost enterprise services for the business.

The post HCLTech taps Anthropic to boost AI enterprise play appeared first on Mobile World Live.

Telia Company outlined plans to cut approximately 900 jobs across the group and lower its operating cost base, setting a target of achieving annual gross savings amounting to SEK1 billion ($100 million).

The company stated its moves represent the next step in becoming simpler, faster and more efficient, with an intention to localise its operations further “and strengthen the role of its country units in meeting evolving customer needs”.

As part of the shake-up, it will transfer approximately 220 positions primarily from its common Technology unit to country units. The 900-headcount reduction will hit all units, covering both employees and resource consultations.

The restructure is expected to be completed by 31 December, subject to customary union negotiations and will result in charges of SEK600 million in Q4 206, with cash flow effect mainly in 2027.

Finland will be the most impacted by the staff cuts, with 280 reductions, followed by home market Sweden with 260.

Patrik Hofbauer, CEO and president at Telia (pictured), said the plan was part of building the future Telia and further localisation “means doubling down on what we know gets results”.

“We must always become even simpler, faster and more efficient in everything we do.​ We want to empower our countries more, get the utmost from our common Technology unit and other Group Functions, and sharpen Telia’s edge in a very competitive market,” he added.

As of 1 October, the company had a total 14,100 employees.

The post Telia to axe 900 roles; targets $100M savings appeared first on Mobile World Live.

SoftBank Group founder and CEO Masayoshi Son (pictured) is reportedly targeting up to $100 billion in funding to scale up the company’s AI ambitions, with a number of investors in the Gulf in line to strike partnerships.

The Financial Times (FT) reported Son has been in discussions with senior figures across the Middle East including in the UAE over possible fundraising, although the outlet added there is no guarantee talks with the investors will amount to anything.

It also did not name any companies or specific individual investors.

FT sources claim Son is looking to use the cash to set up a fund to buy companies and then use AI and other advanced technology to improve operations.

SoftBank’s AI and robotics business Roze is expected to play a key role in the process should it come to fruition, with the company planning to take the unit public.

Raising $100 billion to fuel its AI ambitions adds to a $65 billion bet SoftBank has made on OpenAI.

There is also notably a drive across the Gulf nations to invest in the AI sector and diversify economies into technology-related fields, with UAE-based G42 and MGX pumping big sums of cash into development.

Son has a history of courting Gulf investors, with UAE sovereign wealth fund Mubadala and Saudi Arabia’s Public Investment Fund partnering with the Japanese company on its original Vision Fund in 2017.

The post SoftBank eyes $100B Gulf investment for AI push appeared first on Mobile World Live.

In the second of our special podcast series focused on Digital Industries, MWL‘s Chris Donkin delves into the operational realities of deploying private networks alongside experts from Druid Software, Boldyn Networks and Vodafone Business.

0:00 Meet the Panel
3:00 What’s Taking Off
12:00 4G or 5G?
21:00 The Messy Reality
28:00 Beyond the POC
35:00 Q&A and the Future

The post Podcast: Peering into the private network appeared first on Mobile World Live.

VodafoneThree raised its cost-savings target to £1 billion per annum by 2032, as it set out a UK growth strategy with a new set of “bolder” financial ambitions.

During a Vodafone Group investor briefing, the company focused on its ambitions for VodafoneThree and how it will deliver significant value creation over the coming years.

Among the highlights, the company stated it was upping its cost savings goal, which was previously pegged at £700 million per annum by full year 2030, to £1 billion per annum by full year 2032, which will run to March that year.  By 2030, £800 million in annual cost savings is expected.

The upgraded target comes more than two months after Vodafone completed a full takeover of VodafoneThree, acquiring CK Hutchison’s 49% in the business for £4.3 billion.

Targets
Other financial targets set for the company include a goal of mid-to-high single digit annual growth in adjusted earnings between 2025 and 2032, and a plan to more than triple operating free cash flow during the same period.

The briefing, hosting by group CEO of European markets, Ahmed Essam and VodafoneThree CEO Max Taylor, also reiterated an £11 billion network investment plan spanning 10 years to upgrade the UK’s mobile network, accelerate leadership in the consumer market and grow its Business unit.

Margherita Della Valle, CEO of Vodafone, said VodafoneThree had been created because it saw an opportunity to transform the UK market.

“After a strong start, we now have even greater confidence in the opportunity ahead. That’s why we are upgrading our cost target to £1 billion, with VodafoneThree set to become an increasingly important contributor to Vodafone’s growth ambitions,” she said.

The post VodafoneThree ups cost-savings target to £1B appeared first on Mobile World Live.

The parent company of agentic AI specialist Manus secured more than $500 million in a funding round conducted a little more than a month after it resumed independent operations following the unwinding of an acquisition by Meta Platforms.

Butterfly Effect, which developed the AI company, did not reveal how it plans to use the money or a valuation.

However, Bloomberg reported last month a potential $500 million raise would give it a valuation of around $4 billion, double the sum Meta Platforms paid for the company in an agreement struck in December 2025, before the deal was cancelled on orders from the Chinese government.

Existing investors Tencent, HSG and ZhenFund were involved in the funding round, along with Boyu Capital and IDG Capital.

Investment rules
Manus formally resumed independent operations in September after China’s National Development and Reform Commission told all parties to cancel the deal with Meta Platforms, following an investigation which cited concerns over foreign investment rules.

Manus’ founding investors then moved to buy the company back at the same $2 billion valuation.

China’s concerns related to the fact Butterfly Effect was founded in the country in 2022 but moved its corporate base to Singapore in 2025.

The post AI start-up Manus raises $500M after Meta split appeared first on Mobile World Live.

Samsung Electronics forecast consolidated operating profit of KRW107.4 trillion ($80.2 billion) in preliminary Q3 figures, the first time it would surpass the KRW100 trillion milestone.

With its chip business continuing to thrive, Samsung’s projected quarterly operating profit figure is a 782% increase year-on-year.

Revenue is expected to hit around KRW195 trillion, up almost 127%.

It would be the South Korean company’s fourth straight quarter of record operating profit, fuelled by an ongoing memory chip shortage driven by rising demand for AI services.

Josh Gilbert, lead analyst for APAC at investment platform eToro, told CNBC with “AI spending driving demand for memory and supply remaining tight, the larger story of the chip sector remains intact”, pointing to the fact emerging AI agents would require more memory than chatbots.

“Memory buyers are also committing to multi-year supply agreements, giving Samsung greater visibility over demand in a business where investors have always worried about the next downturn,” CNBC reported Gilbert as saying.

Samsung posted revenue of KRW171.5 trillion and operating profit of KRW89.5 trillion in Q2.

The post Samsung forecasts $80B profit in record quarter appeared first on Mobile World Live.