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2025-08-11 15:30:00| Fast Company

Authorities overseeing the development of artificial intelligence in Indonesia have proposed a “sovereign AI fund” to finance the archipelago’s ambitions to become a regional hub for the fast-growing technology, a government document showed. Last month, Reuters reported that Southeast Asia’s largest economy would release its first national roadmap on AI in a bid to attract foreign investment as it looks to join the global AI and chip-making race. The race has seen neighbouring Malaysia secure billions of dollars from global tech firms seeking to build critical infrastructure to meet growing demand for cloud and AI services. The Indonesia strategy, released in the form of a 179-page white paper seen by Reuters, recommends, among other things, a sovereign AI fund mainly handled by the country’s new sovereign wealth fund, Danantara Indonesia, which controls over $900 billion in assets. Danantara Indonesia did not immediately reply to a request for comment. The paper did not specify the amount that would be needed, but estimated a 2027 to 2029 timeline to set up the fund, and a public-private model to finance Indonesia’s AI push. It also suggests increasing fiscal incentives for domestic investors in AI, without providing details. The strategy paper, which the communications and digital ministry said still awaits public feedback before the final draft, maps Indonesia’s computational readiness for AI and makes recommendations for AI-related policy strategies until 2030. “Indonesia right now is in the early stages of AI adoption,” the document reads. Industry players including Chinese giant Huawei and Indonesia’s biggest technology company GoTo contributed to the report. An April report by the Boston Consulting Group said ASEAN nations were positioned for substantial AI-driven gains, with GDP contributions ranging from 2.3% to 3.1% by 2027, and Indonesia could see the highest impact in terms of absolute gross domestic output growth. The roadmap also details challenges for Indonesia, including a lack of talent, low research funding, uneven connectivity outside big cities, risks of misinformation, and data leaks. Global tech companies have courted the AI drive in Indonesia, including Nvidia and Microsoft. Stanley Widianto, Reuters


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2025-08-11 14:45:55| Fast Company

A group of masked thieves stole about $7,000 worth of Labubu dolls from a Los Angeles-area store this week, authorities said.The incident took place early Wednesday morning at a store in La Puente, a city about 18 miles (29 kilometers) east of Los Angeles, the LA County Sheriff’s Department said. The department said the suspects used a stolen Toyota Tacoma in the incident, which was recovered shortly afterward. The agency said it was investigating the case and did not have additional information.Labubu dolls, created by Hong Kong-born artist Kasing Lung, have become a popular collectible item a decade after the toothy monsters were first introduced.Toy vendor One Stop Sales said in an Instagram post that the thieves took all of the store’s inventory and trashed the establishment. The store posted surveillance footage showing a group of people wearing hoodies and face coverings breaking in. The suspects are seen shuffling through items and carrying boxes out of the shop.“We are still in shock,” the store said in its post, urging people to help find the thieves. This story has been updated to correct the store’s name. It is One Stop Sales, not One Stop Shop. Associated Press


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2025-08-11 14:10:50| Fast Company

In Novo Nordisks legal fight against dozens of U.S. pharmacies and companies selling cheaper copies of its weight-loss drug Wegovy, one name remains conspicuously absent: Hims & Hers. The high-profile telehealth company continues to sell compounded versions of Wegovy at lower prices, testing the limits of federal restrictions on such copies and contributing to weaker sales growth for Novo. In June, Novo accused Hims of violating its intellectual property and endangering patients, scrapping a brief arrangement enabling them to sell Wegovy directly to consumers and raising expectations of litigation. A Novo spokesperson said the Danish drugmaker was not ruling out further legal action after announcing new lawsuits against 14 small pharmacies, telehealth providers and weight-loss clinics this week, but declined to comment on Hims. The drugmaker has filed more than 130 cases in 40 U.S. states. A spokesperson for Hims defended personalization of medicines as the future of healthcare, saying patients and providers use their platform to make clinical decisions. “Investors are happy to see Novo getting more aggressive on the litigation front, but remain puzzled as to why they havent confirmed that they are filing or have filed litigation against Hims yet,” said Barclays analyst Emily Field. Legal experts say Novos expanding litigation against smaller telehealth players could add pressure on a company like Hims to negotiate a settlement or help the drugmaker test out strategies. At the same time, the fact that Novo and Hims had a prior collaboration may complicate legal action. “Business happens in the shadow of the law,” said Robin Feldman, a professor at UC Law San Francisco who has written books on the pharmaceutical industry and its intellectual property battles. “Sometimes companies file against smaller players as a shot across the bow, a way to rattle the larger players.” The U.S. Food and Drug Administration set a May 22 deadline for compounding pharmacies to cease mass-producing copies of Wegovy, a practice allowed only when a drug is in shortage. Hims says it still offers personalized versions of Wegovy, in doses not manufactured by Novo, that better suit individual patient needs. The telehealth provider argues that individualized dosing remains legal under compounding rules. Compounding laws are just vague enough to allow for different interpretations, and the interpretation that matters that of the courts has not been provided to our knowledge, said TD Cowen analyst Michael Nedelcovych.Novos cases against smaller compounders could shape how courts interpret those boundaries, said Gaston Kroub, a partner at patent litigation firm Kroub, Silbersher & Kolmykov. This is an untested set of affairs, said Kroub. If you want to train for a heavyweight championship fight, you start sparring with lighter opponents.In addition to trademark infringement, Novo has accused pharmacies of steering people toward compounded Wegovy by interfering with the relationship between clinicians and patients.Josh Gerben, an intellectual property attorney, said the fact that Hims and Novo had a prior business relationship will complicate any claim Novo could bring. Maggie Fick and Diana Novak Jones, Reuters


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