The Smart Money Is Moving Toward AI Healthcare Tools That Actually Touch Patients
VANCOUVER – Baystreet.ca News Commentary – AI is rapidly infiltrating every corner of the healthcare system, but so far, ambient scribes have taken the lead as the most visible breakthrough. As adoption broadens, experts are now evaluating which tools offer real ROI—and how quickly early adopters could benefit. Clinician workloads are already shrinking thanks to voice AI, while hospitals are deploying intelligent agents to streamline operations and boost care quality. For investors still hunting early-stage opportunities in this space, several publicly traded names are showing fresh momentum, including Avant Technologies, Inc. (OTCQB: AVAI), NVIDIA Corporation (NASDAQ: NVDA), Novo Nordisk A/S (NYSE: NVO), Alphabet, Inc. (NASDAQ: GOOG, GOOGL), and Microsoft Corporation (NASDAQ: MSFT).
Private-market momentum is heating up fast, with venture capital pouring into AI-driven healthcare startups. In the first quarter alone, AI companies secured over half of all digital health funding—underscoring the sector's growing appeal. Notable rounds include $45 million for Ellipsis Health and $28 million for Autonomize AI, both focused on reshaping clinical decision-making. From early diagnostics to advanced drug discovery, the pace of innovation is picking up—and retail investors are starting to take notice.
One example is the rollout of AI-powered screenings for diabetic retinopathy now underway across Costa Rica, Nicaragua, and Panama. Avant Technologies, Inc. (OTCQB: AVAI) and joint-venture partner Ainnova Tech have begun offering free Vision AI scans inside Grupo Dökka's Fischel and La Bomba pharmacy chains. The fast, non-invasive test detects early retinal changes—often before symptoms appear—and delivers secure results within minutes. By embedding the service in retail pharmacies and preparing for a parallel launch in Mexico, the partners are bringing care closer to patients while generating real-world data to support broader commercialization.
"As we begin similar initiatives in Mexico, our goal is to close the patient care loop with timely treatment, connecting every step of the journey," said Vinicio Vargas, CEO of Ainnova Tech and board member of Ai-nova Acquisition Corp. "We are integrating pharma, retail, ophthalmologists, and our technology into a unified experience, all driven by one incentive, the well-being of the diabetic patient."
The rollout also gives Avant a timely proof point as it moves to consolidate Vision AI under one roof. Earlier this month, the company signed a non-binding letter of intent to acquire 100% of Ainnova Tech —bringing leadership, data, and intellectual property together ahead of a scheduled FDA pre-submission meeting in July. Folding the joint venture into a single public entity would remove the current holding-company structure, streamlining everything from regulatory filings to revenue recognition. Management sees the unified cap table as a potential draw for both investors and strategic partners.
While the legal teams work through due diligence, engineers are finalizing a low-cost, automated retinal camera built to work seamlessly with the Vision AI platform. Legacy fundus cameras can run into the tens of thousands and typically require skilled operators. Avant's prototype is fully automated, cloud-connected, and designed for a fraction of the cost. If performance holds up to internal testing, the system could enable large-scale diabetic screenings in clinics and low-resource settings—without the need for additional specialist staff.
Vision AI is also expanding beyond diabetic eye disease. A patented dementia-risk module —pairing a five-minute blood test with AI pattern recognition—is now in validation, while cardiovascular-risk analytics are advancing through pilot studies across Latin America. Because every new use case plugs into the same software backbone, Avant looks more like a scalable platform than a single-product company.
On the financial side, the planned merger would fold all outstanding Ainnova shares into Avant's public float, avoiding cash dilution and fully aligning the combined team's incentives. Management says any future fund-raising would be aimed at three priorities: completing the automated camera, widening pharmacy deployments, and supporting U.S. regulatory milestones.
Taken together, the pharmacy roll-out, planned Ainnova acquisition, and imminent camera launch signal a turning point for Avant. What began as an AI incubator is fast becoming a full-stack diagnostics company, complete with proprietary hardware, an expanding library of predictive algorithms, and retail-level distribution partners. If execution matches vision, Vision AI could cut referral delays, open earlier treatment windows, and give resource-strained health systems specialist-grade insight at primary-care prices—turning headline-grabbing tech into tangible patient benefits.
NVIDIA Corporation (NASDAQ: NVDA) and Novo Nordisk A/S (NYSE: NVO) are joining forces to advance drug discovery using AI models trained on the NVIDIA DGX Cloud platform. The partnership is supported by Denmark's DCAI supercomputing center and aims to improve early-stage research for identifying drug targets and molecules.
'AI is essential for every industry, and there's no other field that will benefit more from acceleration than drug discovery,' said Rory Kelleher, senior director of business development for life sciences at NVIDIA. 'Working with Novo Nordisk, we're advancing critical R&D applications with fundamental tools that can harness the full potential of generative and agentic AI to improve pharmaceutical development.'
Novo Nordisk will adopt NVIDIA's BioNeMo platform to build customized generative AI tools using its proprietary biological data.
'By coupling NVIDIA's accelerated computing platform and expertise with Novo's deep expertise in life sciences research and development, we aim to build custom models that will aid our scientists in developing new medicines faster and more efficiently,' said Mishal Patel, senior vice president, AI and digital innovation at Novo Nordisk. 'Gefion will allow us to run experiments at an unprecedented scale.'
DCAI views this collaboration as a model for how public supercomputing resources can unlock innovation in life sciences. For investors, the alliance highlights a rising trend of AI infrastructure enabling breakthroughs in biopharma.
Alphabet, Inc. (NASDAQ: GOOG, GOOGL) subsidiary Google, through its DeepMind division, has introduced Med-Gemma, a new generative AI model optimized for healthcare developers building diagnostic and imaging apps. The tool aims to streamline early-stage development by offering pretrained models trained on expansive medical imaging datasets.
Med-Gemma joins other Google health-focused initiatives like Med-PaLM 2 and AMIE, signaling a coordinated strategy toward AI-native clinical applications. The company continues to expand its AI footprint across healthcare with open-access tools designed to catalyze innovation at scale.
Microsoft Corporation (NASDAQ: MSFT) is advancing healthcare AI innovation through strategic initiatives presented at HLTH Europe 2025, emphasizing breakthroughs in diagnostics and precision medicine via collaborations like its Mayo Clinic partnership. A central feature was Dragon Copilot, a generative AI tool designed to streamline documentation and enhance clinician-patient engagement across Europe.
Microsoft also addressed growing global health disparities by promoting equitable, inclusive solutions rooted in responsible AI practices. These efforts reflect Microsoft's goal of enabling healthier outcomes for patients and providers worldwide.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
CONTACT:
Baystreet.ca
cs@baystreet.ca
(250) 999-4849
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Baystreet.ca is a wholly-owned subsidiary of Baystreet.ca Media Corp. ('BAY') BAY has been not been paid a fee for Avant Technologies Inc. advertising and/or digital media, but the owner(s) of BAY also own Market IQ Media Group, Inc., which has been paid a fee from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of BAY own shares of Avant Technologies Inc. which were purchased in the open market. BAY and all of it's respective employees, owners and affiliates reserve the right to buy and sell, and will buy and sell shares of Avant Technologies Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by BAY has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
How a GOP rift over tech regulation doomed a ban on state AI laws in Trump's tax bill
NEW YORK (AP) — A controversial bid to deter states from regulating artificial intelligence for a decade seemed on its way to passing as the Republican tax cut and spending bill championed by President Donald Trump worked its way through the U.S. Senate. But as the bill neared a final vote, a relentless campaign against it by a constellation of conservatives — including Republican governors, lawmakers, think tanks and social groups — had been eroding support. One, conservative activist Mike Davis, appeared on the show of right-wing podcaster Steve Bannon, urging viewers to call their senators to reject this 'AI amnesty' for 'trillion-dollar Big Tech monopolists.' He said he also texted with Trump directly, advising the president to stay neutral on the issue despite what Davis characterized as significant pressure from White House AI czar David Sacks, Commerce Secretary Howard Lutnick, Texas Sen. Ted Cruz and others. Conservatives passionate about getting rid of the provision had spent weeks fighting others in the party who favored the legislative moratorium because they saw it as essential for the country to compete against China in the race for AI dominance. The schism marked the latest and perhaps most noticeable split within the GOP about whether to let states continue to put guardrails on emerging technologies or minimize such interference. In the end, the advocates for guardrails won, revealing the enormous influence of a segment of the Republican Party that has come to distrust Big Tech. They believe states must remain free to protect their citizens against potential harms of the industry, whether from AI, social media or emerging technologies. 'Tension in the conservative movement is palpable,' said Adam Thierer of the R Street Institute, a conservative-leaning think tank. Thierer first proposed the idea of the AI moratorium last year. He noted 'the animus surrounding Big Tech' among many Republicans. 'That was the differentiating factor.' Conservative v. conservative in a last-minute fight The Heritage Foundation, children's safety groups and Republican state lawmakers, governors and attorneys general all weighed in against the AI moratorium. Democrats, tech watchdogs and some tech companies opposed it, too. Sensing the moment was right on Monday night, Republican Sen. Marsha Blackburn of Tennessee, who opposed the AI provision and had attempted to water it down, teamed up with Democratic Sen. Maria Cantwell of Washington to suggest striking the entire proposal. By morning, the provision was removed in a 99-1 vote. The whirlwind demise of a provision that initially had the backing of House and Senate leadership and the White House disappointed other conservatives who felt it gave China, a main AI competitor, an advantage. Ryan Fournier, chairman of Students for Trump and chief marketing officer of the startup Uncensored AI, had supported the moratorium, writing on X that it 'stops blue states like California and New York from handing our future to Communist China.' 'Republicans are that way … I get it,' he said in an interview, but added there needs to be 'one set of rules, not 50' for AI innovation to be successful. AI advocates fear a patchwork of state rules Tech companies, tech trade groups, venture capitalists and multiple Trump administration figures had voiced their support for the provision that would have blocked states from passing their own AI regulations for years. They argued that in the absence of federal standards, letting the states take the lead would leave tech innovators mired in a confusing patchwork of rules. Lutnick, the commerce secretary, posted that the provision 'makes sure American companies can develop cutting-edge tech for our military, infrastructure, and critical industries — without interference from anti-innovation politicians.' AI czar Sacks had also publicly supported the measure. After the Senate passed the bill without the AI provision, the White House responded to an inquiry for Sacks with the president's position, saying Trump 'is fully supportive of the Senate-passed version of the One, Big, Beautiful Bill.' Acknowledging defeat of his provision on the Senate floor, Cruz noted how pleased China, liberal politicians and 'radical left-wing groups' would be to hear the news. But Blackburn pointed out that the federal government has failed to pass laws that address major concerns about AI, such as keeping children safe and securing copyright protections. 'But you know who has passed it?' she said. 'The states.' Conservatives want to win the AI race, but disagree on how Conservatives distrusting Big Tech for what they see as social media companies stifling speech during the COVID-19 pandemic and surrounding elections said that tech companies shouldn't get a free pass, especially on something that carries as much risk as AI. Many who opposed the moratorium also brought up preserving states' rights, though proponents countered that AI issues transcend state borders and Congress has the power to regulate interstate commerce. Eric Lucero, a Republican state lawmaker in Minnesota, noted that many other industries already navigate different regulations established by both state and local jurisdictions. 'I think everyone in the conservative movement agrees we need to beat China,' said Daniel Cochrane from the Heritage Foundation. 'I just think we have different prescriptions for doing so.' Many argued that in the absence of federal legislation, states were best positioned to protect citizens from the potential harms of AI technology. 'We have no idea what AI will be capable of in the next 10 years and giving it free rein and tying states hands is potentially dangerous,' Rep. Marjorie Taylor Greene wrote on X. A call for federal rules Another Republican, Texas state Sen. Angela Paxton, wrote to Cruz and his counterpart, Sen. John Cornyn, urging them to remove the moratorium. She and other conservatives said some sort of federal standard could help clarify the landscape around AI and resolve some of the party's disagreements. Wednesdays Columnist Jen Zoratti looks at what's next in arts, life and pop culture. But with the moratorium dead and Republicans holding only narrow majorities in both chambers of Congress, it's unclear whether they will be able to agree on a set of standards to guide the development of the burgeoning technology. In an email to The Associated Press, Paxton said she wants to see limited federal AI legislation 'that sets some clear guardrails' around national security and interstate commerce, while leaving states free to address issues that affect their residents. 'When it comes to technology as powerful and potentially dangerous as AI, we should be cautious about silencing state-level efforts to protect consumers and children,' she said. ___ Associated Press writer Matt Brown in Washington contributed to this report.
Winnipeg Free Press
2 hours ago
- Winnipeg Free Press
Company's carbon credits raise questions about unproven ocean technology to fight global warming
The startup Gigablue announced with fanfare this year that it reached a historic milestone: selling 200,000 carbon credits to fund what it describes as a groundbreaking technology in the fight against climate change. Formed three years ago by a group of entrepreneurs in Israel, the company says it has designed particles that when released in the ocean will trap carbon at the bottom of the sea. By 'harnessing the power of nature,' Gigablue says, its work will do nothing less than save the planet. But outside scientists frustrated by the lack of information released by the company say serious questions remain about whether Gigablue's technology works as the company describes. Their questions showcase tensions in an industry built on little regulation and big promises — and a tantalizing chance to profit. Jimmy Pallas, an event organizer based in Italy, struck a deal with Gigablue last year. He said he trusts the company does what it has promised him — ensuring the transportation, meals, and electricity of a recent 1,000-person event will be offset by particles in the ocean. Gigablue's service is like 'an extra trash can' where Pallas can discard his unwanted emissions, he said. 'Same way I use my trash can — I don't follow where the truck that comes and picks up my trash brings it to,' he said. 'I'll take their word for it.' 'Hundreds of thousands of carbon credits' Gigablue has a grand vision for the future of carbon removal. It was originally named 'Gigaton' after the one billion metric tons of carbon dioxide most scientists say will be necessary to remove from the atmosphere each year to slow global warming. The company began trials in the South Pacific Ocean last year, and says it will work with country authorities to create a 'sequestration field' — a dedicated part of the ocean where 'pulses' of particles will be released on a seasonal basis. Gigablue says its solution is affordable, too — priced to attract investors. 'Every time we go to the ocean, we generate hundreds of thousands of carbon credits, and this is what we're going to do continuously over the upcoming years and towards the future, in greater and greater quantities,' co-founder Ori Shaashua said. Carbon credits, which have grown in popularity over the last decade, are tokens that symbolize the removal of one metric ton of carbon dioxide from the atmosphere. On paper, companies that buy credits achieve a smaller carbon footprint without needing to reduce their own emissions — for instance, by paying another vendor to plant trees or capture carbon dioxide from the air. Only a few countries have required local industries to purchase carbon credits. Most companies that buy them, including Microsoft and Google, do so voluntarily. The credits have helped fund a band of startups like Gigablue that are eager to tackle the climate crisis, but they are also unevenly regulated, scientifically complex, and have in some cases been linked to fraud. Gigablue's 200,000 credits are pledged to SkiesFifty, a newly formed company investing in greener practices for the aviation industry. It's the largest sale to date for a climate startup operating in the ocean, according to the tracking site making up more than half of all ocean-based carbon credits sold last year. And it could beckon a rapid acceleration of the company's work. Gigablue hopes to reach a goal this year of capturing 10 metric tons of carbon dioxide for each ton of particles it deploys, Shaashua said. At that rate, Gigablue would disperse at least 20,000 tons of particles in the ocean. Gigablue wouldn't reveal what it earned in the sale, and SkiesFifty's team declined to be interviewed for this story. Most credits are sold for a few hundred dollars each — but a chart on Gigablue's website suggests its prices are lower than almost any other form of carbon capture on the market. A mission to save the world The startup is the brainchild of four entrepreneurs hailing from the tech industry. According to their LinkedIn profiles, Gigablue's CEO previously worked for an online grocery startup, while its COO was vice president of SeeTree, a company that raised $60 million to provide farmers with information on their trees. Shaashua, who often serves as the face of Gigablue, said he specializes in using artificial intelligence to pursue positive outcomes in the world. He co-founded a data mining company that tracked exposure risks during the COVID-19 pandemic, and led an auto startup that brokered data on car mileage and traffic patterns. 'Three years ago, I decided to take the same formula, so to say, to climate,' Shaashua said. Under his guidance, he said, Gigablue created an AI-driven 'digital twin' of the ocean based on dozens of metrics to determine where to release the particles. Chief technology officer Sapir Markus-Alford earned a bachelor's degree in earth and environmental sciences from Israel's Ben-Gurion University in 2021, shortly before founding Gigablue. Markus-Alford said she began her studies and eventual path to Gigablue after seeing bleached coral reefs and other impacts of warming waters on a series of diving trips around the world. 'I understood that the best thing we could do for the ocean is to be able to remove CO2,' Markus-Alford said. A spokesperson for Gigablue did not answer whether the other co-founders have graduate degrees in oceanography or environmental science, but said the company's broader team holds a total of 46 Ph.D.s with expertise in biology, chemistry, oceanography, and environmental science. Markus-Alford said that figure includes outside experts and academics and 'everyone that supports us.' The company's staffing has expanded from Israel to hubs in New York and New Zealand, Shaashua said. In social media posts advertising open jobs, Gigablue employees encouraged applicants to 'Join Our Mission to Save the World!' Trapping carbon at the bottom of the ocean The particles Gigablue has patented are meant to capture carbon in the ocean by floating for a number of days and growing algae, before sinking rapidly to the ocean floor. 'We are an elevator for carbon,' Shaashua said. 'We are exporting the carbon from the top to the bottom.' Algae — sometimes referred to as phytoplankton — has long been attractive to climate scientists because it absorbs carbon dioxide from the surrounding water as it grows. If the algae sinks to the deep sea or ocean floor, Gigablue expects the carbon to be trapped there for hundreds to thousands of years. The ultimate goal is to lower carbon dioxide levels so drastically that the ocean rebalances with the atmosphere by soaking up more CO2 from the air. It's a feat that would help slow climate change, but one that is still under active study by climate scientists. Gigablue's founders have said the company's work is inspired by nature and 'very, very environmentally safe.' The company's particles and sinking methods simply recreate what nature has been doing 'since forever,' Shaashua said. Gigablue ran its first trial sinking particles in the Mediterranean in March last year. Later, on two voyages to the South Pacific, the company released 60 cubic meters — about two shipping containers — of particles off the coast of New Zealand. Materials kept a mystery While Gigablue has made several commercial deals, it has not yet revealed what its particles are made of. Partly this is because the company says it will build different particles tailored to different seasons and areas of the ocean. 'It's proprietary,' Markus-Alford said. Documents provide a window into the possible ingredients. According to information on the permit, Gigablue's first New Zealand trial last year involved releasing particles of pure vermiculite, a porous clay often used in potting soil. In the second New Zealand trial, the company released particles made of vermiculite, ground rock, a plant-based wax, as well as manganese and iron. A patent published last year hints the particles could also be made of scores of other materials, including cotton, rice husks or jute, as well as synthetic ingredients like polyester fibers or lint. The particles contain a range of possible binding agents, and up to 18 different chemicals and metals, from iron to nickel to vanadium. Without specifying future designs, Markus-Alford said Gigablue's particles meet certain requirements: 'All the materials we use are materials that are natural, nontoxic, nonhazardous, and can be found in the ocean,' she said. She wouldn't comment on the possible use of cotton or rice, but said the particles won't include any kind of plastic. When asked about vermiculite, which is typically mined on land and heated to expand, Markus-Alford said rivers and erosion transport most materials including vermiculite to the ocean. 'Almost everything, basically, that exists on land can be found in the ocean,' she said. The company said it had commissioned an environmental institute to verify that the particles are safe for thousands of organisms, including mussels and oysters. Any materials in future particles, Gigablue said, will be approved by local authorities. Shaashua has said the particles are so benign that they have zero impact on the ocean. 'We are not changing the water chemistry or the water biology,' Shaashua said. Ken Buesseler, a senior scientist with the Woods Hole Oceanographic Institution who has spent decades studying the biological carbon cycle of the ocean, says that while he's intrigued by Gigablue's proposal, the idea that the particles don't alter the ocean is 'almost inconceivable.' 'There has to be a relationship between what they're putting in the ocean and the carbon dioxide that's dissolved in seawater for this to, quote, work,' Buesseler said. Buesseler co-leads a nonprofit group of scientists hoping to tap the power of algae in the ocean to capture carbon. The group organizes regular forums on the subject, and Gigablue presented in April. 'I left with more questions than answers,' Buesseler said. Scientists raise questions Several scientists not affiliated with Gigablue interviewed by The Associated Press said they were interested in how a company with so little public information about its technology could secure a deal for 200,000 carbon credits. The success of the company's method, they said, will depend on how much algae grows on the particles, and the amount that sinks to the deep ocean. So far, Gigablue has not released any studies demonstrating those rates. Thomas Kiørboe, a professor of ocean ecology at the Technical University of Denmark, and Philip Boyd, an oceanographer at the University of Tasmania who studies the role of algae in the Earth's carbon cycle, said they were doubtful algae would get enough sunlight to grow inside the particles. It's more likely the particles would attract hungry bacteria, Kiørboe said. 'Typical phytoplankton do not grow on surfaces, and they do not colonize particles,' Kiørboe said. 'To most phytoplankton ecologists, this would just be, I think, absurd.' The rates at which Gigablue says its particles sink — up to a hundred meters (yards) per hour — might shear off algae from the particles in the quick descent, Boyd said. It's likely that some particles would also be eaten by fish — limiting the carbon capture, and raising the question of how the particles could impact marine life. Boyd is eager to see field results showing algae growth, and wants to see proof that Gigablue's particles cause the ocean to absorb more CO2 from the air. 'These are incredibly challenging issues that I don't think, certainly for the biological part, I don't think anyone on the planet has got solutions for them,' he said. James Kerry, a senior marine and climate scientist for the conservation group OceanCare and senior research fellow at Australia's James Cook University, has closely followed Gigablue's work. 'What we've got is a situation of a company, a startup, upfront selling large quantities of credits for a technology that is unproven,' he said. In a statement, Gigablue said that bacteria does consume the particles but the effect is minimal, and its measurements will account for any loss of algae or particles as they sink. The company noted that a major science institute in New Zealand has given Gigablue its stamp of approval. Gigablue hired the National Institute of Water and Atmospheric Research, a government-owned company, to review several drafts of its methodology. In a recent letter posted to Gigablue's website, the institute's chief ocean scientist said his staff had confidence the company's work is 'scientifically sound' and the proposed measurements for carbon sequestration were robust. Whether Gigablue's methods are deemed successful, for now, will be determined not by regulators — but by another private company. A new market is one of several companies known as registries that serve the carbon credit market. Amid the lack of regulation and the potential for climate startups to overstate their impact, registries aim to verify how much carbon was really removed. The Finnish has verified more than a million carbon credits since its founding seven years ago. But most of those credits originated in land-based climate projects. Only recently has it aimed to set standards for the ocean. In part, that's because marine carbon credits are some of the newest to be traded. Dozens of ocean startups have entered the industry, with credit sales catapulting from 2,000 in 2021 to more than 340,000, including Gigablue's deal, last year. But the ocean remains a hostile and expensive place in which to operate a business or monitor research. Some ocean startups have sold credits only to fold before they could complete their work. Running Tide, a Maine-based startup aimed at removing carbon from the atmosphere by sinking wood chips and seaweed, abruptly shuttered last year despite the backing of $50 million from investors, leaving sales of about 7,000 carbon credits unfulfilled. In June, published a draft methodology that will be used to verify Gigablue's work, which it designed in consultation with Gigablue. Once finalized, Gigablue will pay the registry for each metric ton of carbon dioxide that it claims to remove. Marianne Tikkanen, head of standards at said that although this methodology was designed with Gigablue, her team expects other startups to adopt the same approach. 'We hope that there will be many who can do it and that it stimulates the market,' she said. The road ahead It remains to be seen whether New Zealand officials will grant permission for the expanded 'sequestration field' that Gigablue has proposed creating, or if the company will look to other countries. New Zealand's environmental authority has so far treated Gigablue's work as research — a designation that requires no formal review process or consultations with the public. The agency said in a statement that it could not comment on how it would handle a future commercial application from Gigablue. But like many climate startups, Gigablue was involved in selling carbon credits during its research expeditions — not only inking a major deal, but smaller agreements, too. Pallas, the Italian businessman, said he ordered 22 carbon credits from Gigablue last year to offset the emissions associated with his event in November. He said Gigablue gave them to him for free — but says he will pay for more in the future. Pallas sought out carbon credits because he sees the signs of climate change all around him, he says, and expects more requirements in Italy for businesses to decarbonize in coming years. He chose Gigablue because they are one of the largest suppliers: 'They've got quantity,' he said. How authorities view Gigablue's growing commercial activity could matter in the context of an international treaty that has banned certain climate operations in the ocean. More than a decade ago, dozens of countries including New Zealand agreed they should not allow any commercial climate endeavor that involves releasing iron in the ocean, a technique known as 'iron fertilization.' Only research, they said, with no prospect of economic gain should be allowed. Iron is considered a key ingredient for spurring algae growth and was embedded in the particles that Gigablue dispersed in October in the Pacific Ocean. Several scientific papers have raised concerns that spurring iron-fueled algae blooms on a large scale would deplete important nutrients in the ocean and harm fisheries. The startup denies any link to iron dumping on the basis that its particles don't release iron directly into the water and don't create an uncontrolled algae bloom. 'We are not fertilizing the ocean,' Markus-Alford said. 'In fact, we looked at iron fertilization as an inspiration of something to avoid,' Shaashua said. But the draft methodology that will use to verify Gigablue's work notes many of the same concerns that have been raised about iron fertilization, including disruptions to the marine food web. Other scientists who spoke with AP see a clear link between Gigablue's work and the controversial practice. 'If they're using iron to stimulate phytoplankton growth,' said Kerry, the OceanCare scientist, 'then it is iron fertilization.' For now, scientific concerns don't seem to have troubled Gigablue's buyers. The company has already planned its next research expedition in New Zealand and hopes to release more particles this fall. Wednesdays Columnist Jen Zoratti looks at what's next in arts, life and pop culture. 'They mean well, and so do I,' said Pallas, of his support for Gigablue. 'Sooner or later, I'll catch a plane, go to New Zealand, and grab a boat to see what they've done.' — This story was supported by funding from the Walton Family Foundation. The AP is solely responsible for all content. __ Contact AP's global investigative team at Investigative@ or
Globe and Mail
3 hours ago
- Globe and Mail
Microsoft cutting 9,000 jobs with largest layoff in years
Microsoft MSFT-Q says it is laying off about 9,000 workers, its second mass layoff in months and its largest in more than two years. The tech giant began sending out layoff notices Wednesday that hit the company's Xbox video game business and other divisions. Among those losing their jobs are 830 workers tied to Microsoft's headquarters in Redmond, Washington, according to a notice sent to state officials Wednesday. Microsoft said the cuts will affect multiple teams around the world, including its sales division, part of 'organizational changes' needed to succeed in a 'dynamic marketplace.' The company won't say the total number of layoffs except that it was about 4 per cent of the workforce it had a year ago. A memo to gaming division employees Wednesday from Xbox CEO Phil Spencer said the cuts would position the video game business 'for enduring success and allow us to focus on strategic growth areas.' Xbox would 'follow Microsoft's lead in removing layers of management to increase agility and effectiveness,' Spencer wrote. Microsoft employed 228,000 full-time workers as of June 2024, the last time it reported its annual headcount. Its latest layoffs would cut fewer than 4 per cent of that workforce, according to Microsoft. But it has already had at least three layoffs this year and it's unlikely that new hiring has matched the amount lost. Either way, a 4 per cent cut would amount to somewhere in the range of 9,000 people. Until now, this year's biggest layoff was in May, when Microsoft began laying off about 6,000 workers, nearly 3 per cent of its global workforce and its largest job cuts in more than two years. The cutbacks come as Microsoft continues to invest huge amounts of money in the data centers, specialized computer chips and other infrastructure needed to advance its AI ambitions. The company anticipated those expenses would cost it about US$80-billion in the last fiscal year. Its new fiscal year began Tuesday. Microsoft just last month cut another 300 workers based out of its Redmond headquarters, on top of nearly 2,000 who lost their jobs in the Puget Sound region in May, most of them in software engineering and product management roles, according to information it sent to Washington state employment officials. Microsoft's chief financial officer Amy Hood said on an April earnings call that the company was focused on 'building high-performing teams and increasing our agility by reducing layers with fewer managers.' The company has repeatedly characterized its recent layoffs as part of a push to trim management layers, but the May focus on cutting software engineering jobs has fueled worries about how the company's own AI code-writing products could reduce the number of people needed for programming work. Microsoft CEO Satya Nadella said earlier this year that 'maybe 20, 30 per cent of the code' for some of Microsoft's coding projects 'are probably all written by software.' The latest layoffs, however, seemed centered on slower-growing areas of the company's business, said Wedbush Securities analyst Dan Ives. 'They're focused more and more on AI, cloud and next-generation Microsoft and really looking to cut costs around Xbox and some of the more legacy areas,' Ives said. 'I think they overhired over the years. This is Nadella and team making sure that they're keeping with efficiency and that's the name of the game in Wall Street.' The trimming of the Xbox staff follows Microsoft's years-long expansion of the business surrounding its gaming console, culminating in 2023 with the $75.4-billion acquisition of Activision Blizzard — the California-based maker of hit franchises like Call of Duty and Candy Crush. Before that, in a bid to compete with Sony's PlayStation, it spent $7.5-billion to acquire ZeniMax Media, the parent company of Maryland-based video game publisher Bethesda Softworks. Many of those game studios, which have locations across North America and Europe, were struggling with the layoffs Wednesday, according to social media posts from employees who announced they were looking for new jobs.
