AI News Today: Regulation, Innovation, and Societal Impact / Updated: 2025, July 5th, 00:00 CET
The EU’s AI Act is moving forward without delays, with general-purpose AI obligations beginning in August 2024 and high-risk models following in August 2026, with penalties up to 7% of global revenue. More than 45 European CEOs signed open letters urging a two-year pause, warning that overly complex regulation could hinder Europe’s global competitiveness and stifle innovation. OpenAI and Oracle signed a major deal to secure 4.5 GW of data-center capacity for AI projects as part of the Stargate initiative. Nvidia’s market cap surged to about $3.92 trillion, nearly $4 trillion, driven by demand for AI chips. The Velvet Sundown,