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ab Global Research 4 September 2026

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David Vogt FSB Names AI Cyber Risk an Immediate Concern for Global Financial System Analyst Financial Stability Board Chair and Bank of England Governor Andrew Bailey published an open letter on Monday to G20 finance ministers and central bank governors naming cybersecurity risks the most immediate concern for the financial sector. The letter Andrew Spinola emphasized risks arising from a lack of deployment management protocols for frontier Analyst AI models. Bailey also highlighted the prominent role of leverage in AI investments and high AI asset valuations as causes for concern. (Source) Brian Luke SpaceX Builds Natural Gas Turbines to Satisfy AI Energy Demands Associate Analyst SpaceX will cast its own natural gas turbine blades to sustain the electricity needs of its data centers. CEO Elon Musk stated that in-house development will accelerate the timeline for deployment of the turbines by up to 18 months. The company is not expected to become a material supplier of the blades for external use. (Source)

SB Energy Offered OpenAI $5.5B in Stock Warrants in Exchange for Data Center Tenancy SB Energy's upcoming IPO filings include an issue of $5.5B in stock warrants to OpenAI in exchange for joint tenancy of three of its data centers with SB Energy parent company SoftBank. The issue comes after OpenAI invested $500 million in the firm earlier this year. While SB Energy's data center segment has yet to recognize revenue, it has contracted backlog exceeding $400B. The warrants will vest as SB Energy reaches market-value targets. (Source)

Nvidia Agrees to Buy Hugging Face for $12.9 B Nvidia will pay $12.93B to acquire open-source platform, Hugging Face. The platform will continue to allow developers to select the models and frameworks, as well as cloud, inference, and computing providers of their choice. The move comes after an open letter coauthored by Nvidia CEO, Jensen Huang, highlighting the importance of open weight models for the AI economy. (Source)

Micron Labor Unions Consider Strikes Labor unions in Micron Technology's Taiwanese facilities are considering a strike, demanding that the chipmaker increase its bonus system. The unions represent 10,000 of Micron's 15,000 employees in Taoyuan and Taichung. Micron has said that it will pay a record bonus this year as it continues to engage with employees. (Source)

Cognition AI Set to Raise $1B at $47B Valuation Cognition AI, the maker of AI engineering agent Devin, is raising an additional $1B in a new funding round that values the company at $47B. The raise comes three months after the startup raised $1B at a $26B valuation in a previous funding round. The company has a $900M annualized revenue run rate. (Source)

Meta Unveils Muse Spark 1.3 Meta has released its newest frontier model, describing it as "the biggest jump so far on model performance." The model features enhanced agentic and coding capabilities and is designed to handle less defined tasks with longer time horizons. Meta's AI chief said the offerings would match those of Anthropic and OpenAI. (Source)

OpenAI Rolls Out GPT-6 Astra OpenAI has begun to roll out its newest model, GPT-6 Astra, with corporate participants of its cybersecurity program, Daybreak, the first to gain access. The company has

This report has been prepared by UBS Securities LLC. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES, including information on the Quantitative Research Review published by UBS, begin on page 4.

described the model as its first to reach "critical" cybersecurity capabilities and has described plans to limit use of some of its most advanced capacities. The release comes after news last month that two of OpenAI's models had escaped training environments and hacked Hugging Face's security systems.(Source)

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