Dubai Telegraph - Tech sector gathers in Lisbon in shadow of Trump victory

EUR -
AED 3.879921
AFN 70.774705
ALL 97.658441
AMD 409.488241
ANG 1.905213
AOA 963.376768
ARS 1054.320885
AUD 1.627536
AWG 1.901401
AZN 1.801486
BAM 1.943481
BBD 2.134372
BDT 126.319293
BGN 1.9558
BHD 0.398119
BIF 3061.256379
BMD 1.056334
BND 1.412811
BOB 7.304697
BRL 6.133815
BSD 1.057139
BTN 89.15023
BWP 14.343757
BYN 3.459372
BYR 20704.14942
BZD 2.130774
CAD 1.478319
CDF 3026.39715
CHF 0.935785
CLF 0.037514
CLP 1035.112444
CNY 7.631383
CNH 7.652882
COP 4731.320676
CRC 539.798787
CUC 1.056334
CUP 27.992855
CVE 110.756993
CZK 25.285045
DJF 187.73139
DKK 7.458754
DOP 63.776161
DZD 141.547711
EGP 52.10252
ERN 15.845012
ETB 128.925753
FJD 2.399199
FKP 0.831283
GBP 0.831356
GEL 2.884081
GGP 0.831283
GHS 17.012698
GIP 0.831283
GMD 74.999517
GNF 9116.163919
GTQ 8.168224
GYD 221.158132
HKD 8.219706
HNL 26.472039
HRK 7.535367
HTG 138.99552
HUF 407.89813
IDR 16738.565373
ILS 3.965716
IMP 0.831283
INR 89.179585
IQD 1384.325909
IRR 44463.742746
ISK 147.284729
JEP 0.831283
JMD 167.357086
JOD 0.749047
JPY 164.334965
KES 136.790508
KGS 91.061436
KHR 4278.153377
KMF 492.621303
KPW 950.700505
KRW 1481.899804
KWD 0.324971
KYD 0.880916
KZT 521.017397
LAK 23181.253406
LBP 94594.723681
LKR 308.961568
LRD 194.36531
LSL 19.278261
LTL 3.11908
LVL 0.638966
LYD 5.144042
MAD 10.518957
MDL 19.048258
MGA 4917.235703
MKD 61.531456
MMK 3430.932127
MNT 3589.423527
MOP 8.469315
MRU 42.121293
MUR 49.531301
MVR 16.320345
MWK 1833.795702
MXN 21.69129
MYR 4.711444
MZN 67.498546
NAD 19.277515
NGN 1771.95785
NIO 38.851914
NOK 11.767666
NPR 142.642227
NZD 1.796592
OMR 0.406667
PAB 1.057099
PEN 4.016129
PGK 4.156411
PHP 62.152628
PKR 293.713639
PLN 4.341243
PYG 8250.095155
QAR 3.845638
RON 4.975967
RSD 116.975311
RUB 104.047459
RWF 1441.89612
SAR 3.969228
SBD 8.855836
SCR 14.40717
SDG 635.387436
SEK 11.603515
SGD 1.418836
SHP 0.831283
SLE 24.100276
SLL 22150.800682
SOS 603.695541
SRD 37.267363
STD 21863.98426
SVC 9.24937
SYP 2654.071001
SZL 19.278362
THB 36.91096
TJS 11.263007
TMT 3.707733
TND 3.32481
TOP 2.474044
TRY 36.2854
TTD 7.183466
TWD 34.278574
TZS 2809.848602
UAH 43.672836
UGX 3879.409365
USD 1.056334
UYU 44.567497
UZS 13547.485199
VES 47.531547
VND 26772.789136
VUV 125.410144
WST 2.954552
XAF 651.855898
XAG 0.034887
XAU 0.000411
XCD 2.854796
XDR 0.796378
XOF 651.239726
XPF 119.331742
YER 263.875515
ZAR 19.259818
ZMK 9508.281216
ZMW 28.91707
ZWL 340.139167
  • RBGPF

    -0.8500

    59.34

    -1.43%

  • CMSC

    0.0700

    24.61

    +0.28%

  • JRI

    0.0200

    13.24

    +0.15%

  • BCC

    1.4200

    142.55

    +1%

  • NGG

    -0.7800

    62.12

    -1.26%

  • RELX

    -0.4700

    46.12

    -1.02%

  • BCE

    -0.4800

    27.21

    -1.76%

  • BTI

    0.1800

    35.42

    +0.51%

  • GSK

    -0.4100

    35.11

    -1.17%

  • SCS

    -0.3000

    13.37

    -2.24%

  • CMSD

    -0.0200

    24.73

    -0.08%

  • RYCEF

    -0.0500

    7.11

    -0.7%

  • VOD

    0.2800

    8.75

    +3.2%

  • BP

    0.4100

    28.57

    +1.44%

  • RIO

    -0.5800

    60.62

    -0.96%

  • AZN

    0.1000

    65.29

    +0.15%

Tech sector gathers in Lisbon in shadow of Trump victory
Tech sector gathers in Lisbon in shadow of Trump victory / Photo: Patricia DE MELO MOREIRA - AFP

Tech sector gathers in Lisbon in shadow of Trump victory

Leading lights of the tech industry are meeting in Lisbon on Tuesday for the Web Summit, the sector's first big event since the US election, with Donald Trump's victory expected to be a key theme of their discussions.

Text size:

The tech industry is holding its breath to see what Trump's second term will bring when he takes over in January, especially as SpaceX and Tesla chief Elon Musk is expected to have a huge influence on the next US government.

During Trump's last term from 2017 to 2021, big tech firms were often at odds the with the president, particularly given his crackdown on immigration and ramping up the trade war with China.

The Web Summit, which runs until Thursday, will bring together some 70,000 attendees with more than 3,000 startups and 1,000 investors, according to the organisers.

Several sessions will deal directly with the fallout of the US election on the sector, but organisers told AFP it was too early to judge how the industry would react.

The event kicked off on Monday night with singer Pharrell Williams bringing star power to the proceedings.

Organisers were keen to move on from last year's edition when a string of big firms pulled out after Web Summit chief executive Paddy Cosgrave wrote social media posts accusing Israel of war crimes in Gaza.

Cosgrave stepped down but has since returned to his post, making no reference to the controversy in his opening speech Monday, saying simply: "It's good to be back."

- AI 'suicide race' -

Cosgrave stressed how the Web Summit is focused on the startup ecosystem first and foremost.

But big tech firms have returned to the gathering this year with Meta, Google and others all represented.

Microsoft President Brad Smith is due to lay out how the software juggernaut envisages the next phase of its artificial intelligence strategy, after spending billions to infuse the technology into most of its products.

AI is expected to be the central theme -- Cosgrave commented that there were so many AI startups it was now "one of the world's biggest AI events".

On Monday, prominent AI critic Max Tegmark, president of the Future of Life Institute, renewed his warnings that humanity could be on the path to oblivion.

He said governments needed to pass stiff regulations to halt the development of artificial general intelligence -- a notional superintelligent AI capable of dominating humans.

Tegmark criticised the narrative that pitted great powers against each other in a competition to dominate the field, commenting: "It's not an arms race between the US and China, it's a suicide race."

H.Pradhan--DT