societal impact

The EU’s AI Act is set to take effect in mid-2026, imposing strict, risk-based regulations and market access requirements. A 10-year moratorium on state-level AI regulation was removed from a major US Congressional bill, underscoring regulatory contention. The US and China are locked in a high-stakes AI race, with the US investing about $700 billion annually and China about $500 billion. Nvidia is approaching a $4 trillion valuation, while Oracle plans to buy 400,000 Nvidia GB200 processors for $40 billion. The UAE aims for AI to contribute 14% to GDP by 2030, with sovereign AI cloud networks and international leadership