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Stanley 1913 unites with chart-topping phenomenon JENNIE to launch ultimate luxe hydration collection

The limited-edition capsule launching Sept. 18th features new silhouettes from the innovative brand, and redefines style and functionality through JENNIE’s creative lens

Stanley 1913, the global lifestyle brand synonymous with iconic design and trusted performance, has announced its partnership with global superstar JENNIE, founding member of K-pop group BLACKPINK, to launch the new Quencher® Luxe Tumbler and All Day Slim Luxe Bottle as part of the Stanley 1913 x JENNIE collection in Midnight Ruby. The limited-edition capsule blends fashion, functionality, and JENNIE’s signature style across the brand’s most coveted hydration silhouettes.

Following successful launches with global artists such as Olivia Rodrigo, Tyla and more, Stanley 1913 continues to demonstrate its cultural relevancy via its latest signature, elevated partnership with JENNIE. JENNIE brings her authenticity, bold style, and creative energy to Stanley 1913. The Stanley 1913 x JENNIE collection in Midnight Ruby combines JENNIE’s personal aesthetic with the brand’s renowned quality and performance. The collaboration celebrates self-expression, fashion, and individuality — values championed by Stanley 1913 and JENNIE and shared with fans around the world.

The Stanley 1913 x JENNIE Collection in Midnight Ruby

At the heart of the collection are two inaugural Luxe products from the brand, delivering a premium experience for those who want to elevate their hydration accessories. The new 30 oz Quencher® Luxe Tumbler is a fitting debut for JENNIE’s bold, fashion-forward style. Each tumbler features a silicone base plus translucent Tritan™* handle and etched logo for an elevated look. Collectible charms with JENNIE’s personal touches — including a NINIBARA, an exclusive capybara design created by JENNIE; a bear; and a ‘JENNIE’ name plate — adorn the Quencher® Luxe. Also featured is the 12 oz All Day Slim Luxe Bottle — lightweight, portable, and effortlessly chic. Silver floral accents, a heart-shaped graphic, etched logo, and JENNIE’s signature are featured on both elevated, limited-edition products. The result: bold, functional pieces that channel JENNIE’s on-stage confidence and off-duty cool.

New from Stanley 1913:

  • Stanley 1913 x JENNIE Quencher® Luxe Tumbler (30 oz): A sleek take on the fan-favorite Quencher®, this limited-edition features JENNIE’s signature style in a compact, carry-everywhere size. With double-wall vacuum insulation and an easy-carry handle, it’s made for all-day hydration in style.
  • Stanley 1913 x JENNIE All Day Slim Luxe Bottle (12 oz): Effortlessly chic and perfectly portable, the All Day Slim Luxe Bottle is JENNIE’s go-to for on-the-go sipping. Featuring a minimalist silhouette and twist-off lid, this piece was made to fit seamlessly in any bag — or moment.

A dynamic creative campaign brings the collection to life with bold blacks, deep reds, and metallic silvers reflecting JENNIE’s powerful aesthetic. Imagery and video highlight her signature boots, sunglasses, and hydration accessories, capturing the energy and personality of the collection. Consumer activations in Seoul, Shanghai, Jakarta, Bangkok, Manila, Taipei, and Los Angeles provide fans with a “backstage” look into the artist’s world while celebrating her music, style, and individuality. In-store experiences in Sydney, Melbourne, and Hong Kong showcase the collection’s luxe design to fans worldwide.

“Our brand lives at the intersection of culture, lifestyle, and entertainment. We aim to surprise and delight customers around the world through authentic partnerships, and we found an ideal one in JENNIE,” said Matt Navarro, Global President, PMI WW Brands, LLC. “Her global presence, musical prowess, and ability to energize her global fan base make her a cultural powerhouse, and we are excited to partner with her to bring a truly one-of-a-kind, special collection to our consumers.”

“I love how the products turned out, and I think fans will notice the ‘JENNIE’ touches that represent me,” JENNIE shared. “I hope they feel the personality and energy we poured into every detail.”

Shop the Collection on New Stanley 1913 TikTok Shop

The Stanley 1913 x JENNIE collection in Midnight Ruby can be found on stanley1913.com starting September 18th, and globally via the locations below. The Stanley 1913 community and JENNIE fans in the US can also shop the Luxe collection on the brand’s TikTok Shop, the integrated e-commerce platform within the app where visitors can shop directly from the brand profile page. The collection will be available during a pre-sale on Sept. 17th. The brand’s relevancy on TikTok is legendary, igniting conversation and setting trends, having grown its follower count by nearly 2,500% and generating more than 110M organic views between 2023 and 2024 with its strategic approach to attract and engage with its Gen Z audience. Follow Stanley 1913 on TikTok (@stanleybrand) for more information.

 

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EXPLAINER: Why is leucovorin being considered as an autism treatment?

On Monday, the US Food and Drug Administration published a notice to the Federal Register ahead of a speech by President Donald Trump, approving a version of leucovorin made by GlaxoSmithKline that the company had previously withdrawn from the FDA’s consideration when it stopped manufacturing the drug.

The FDA cited a review of the use of leucovorin in 40 patients with a rare metabolic disorder called cerebral folate deficiency that can lead to a range of neurological symptoms, some of which are seen in people with autism.

GSK stopped manufacturing and marketing its version of leucovorin in 1997 but still holds the New Drug Application (NDA), meaning it is responsible for requesting new indications to be added. It said on Monday it would, at the request of the US FDA, submit an application to update the label to include an indication for the treatment of cerebral folate deficiency.

Here’s what is known about leucovorin and autism.

WHAT IS LEUCOVORIN?
Leucovorin, also known as folinic acid, is a form of folate, an essential B vitamin, or B9.

Leucovorin has been approved by the US Food and Drug Administration for counteracting the toxic effects of certain cancer drugs, like methotrexate, that block the body’s use of folate.

Leucovorin is also used to enhance the effects of other chemotherapy drugs and to treat specific types of anemia. The drug can be given orally or intravenously.

It is made by more than half a dozen companies, according to the US Food and Drug Administration website.

WHY IS FOLATE IMPORTANT?
Folate helps cells grow and divide. It also supports the immune system and helps produce healthy red blood cells. In developing fetuses, inadequate folate leads to a type of serious birth defect called neural tube defects.

The US Centers for Disease Control and Prevention advises all women capable of becoming pregnant to supplement their diet with 400 mcg of folic acid every day to help prevent neural tube defects.

Some studies, but not all, have also found an association of low maternal folate levels during early pregnancy with an increased risk of autism in children.

WHY CONSIDER USING LEUCOVORIN TO TREAT AUTISM?
Doctors have been prescribing leucovorin for autism off-label, or repurposing a drug approved for one condition to treat another.

Studies from researchers at SUNY Downstate Medical Center in Brooklyn, New York, and elsewhere have suggested that up to three-fourths of children with autism have genetic variations that impair their body’s ability to process folate or autoimmune disorders that block folate transport to the brain.

Other small studies have linked these findings with more severe forms of the disorder and suggested that treatment with leucovorin can improve verbal skills, social skills and irritability in these youngsters.

However, the science regarding leucovorin and autism “is still in very early stages, and more studies are necessary before a definitive conclusion can be reached,” the Autism Science Foundation said in a statement.

The data in favor of treatment with leucovorin is “from four small randomized controlled trials, all using different doses and different outcomes, and in one case, reliant on a specific genetic variant,” the Foundation notes on its website.

Dr. David Mandell, a professor of psychiatry and autism expert at the University of Pennsylvania, told Reuters that leucovorin might well be a possible treatment for some children with autism, “but the evidence we have supporting it… is really, really weak.” — Reuters

House committee approves 2026 national budget bill

PHILSTAR FILE PHOTO

By Kenneth Christiane L. Basilio, Reporter

A House of Representatives committee on Tuesday approved the P6.793-trillion budget bill for 2026, bringing the massive spending plan to the floor after 37 days of committee-level vetting.

The House Appropriations Committee adopted the budget tweaks made by a sub-committee on Monday, which redirected about P255 billion in flood control funds originally allocated for the Department of Public Works and Highways (DPWH) mostly towards the Education, Health and Social Welfare departments.

Fifty-four lawmakers voted in favor of the bill, while six voted against. Four lawmakers abstained.

“We commit that we only changed the P255 billion… We didn’t hide anything, we didn’t alter anything,” Nueva Ecija Rep. Mikaela Angela B. Suansing, who heads the House Appropriations Committee, told lawmakers.

This year’s budget process saw major changes after Ms. Suansing introduced sweeping reforms aimed at boosting budget transparency, following last year’s controversy over alleged insertions in the spending plan. Amendments to the budget bill were previously handled by an opaque “small committee” consisting of select congressmen.

The budget panel added P26.5 billion to the Education department’s budget, with P22.5 billion earmarked for new classroom construction and P1.88 billion for school feeding programs, among others.

Lawmakers also hiked the Health department’s budget by P29.28 billion, with P26.73 billion going towards the agency’s medical assistance program for poor patients and P2.4 billion to fund the construction of key government hospitals nationwide.

About P60 billion were channeled to to Philippine Health Insurance Corp. (PhilHealth), serving as the government’s subsidy for the state health insurer.

Congressmen revised the proposed budget for the Social Welfare department, adding P35.91 billion. Broken down, P32.06 billion would be allotted for emergency cash aid to poor Filipinos and P3 billion for its sustainable livelihood program.

They also rechanneled P39.36 billion to the Agriculture department’s proposed budget. This included P8.89 billion for farm-to-market roads, P8.69 billion for post-harvest facilities and P7 billion for P7,000 cash aid to farmers and fisherfolk.

Ms. Suansing last month said lawmakers expect the budget bill to clear second reading by October, and third reading when sessions resume in November.

Congressmen have 10 days to pass the spending plan before Congress adjourns on Oct. 3 for a month-long break, set to resume on Nov. 9.

Bank of England’s Bailey says AI can help regulators to find the ‘smoking gun’

STOCK PHOTO | Image by Rawpixel.Com from Freepik

Bank of England Governor Andrew Bailey said on Monday that he and other regulators who oversee the financial services industry should use artificial intelligence to help them spot problems among the firms that they supervise.

“I think we’ve all got to invest heavily in data and data science, and techniques,” Bailey said during a discussion about financial regulation organized by the London School of Economics.

He said central banks and other watchdogs gather up vast amounts of data but “none of us, I think, can put our hand on our heart to say that we’re sort of optimally using it all.”

“It also creates the danger for the authorities that you’ve got the evidence in the building and you haven’t been able to use it and it subsequently comes out that somewhere in your system was the smoking gun,” Bailey added. “That’s a recurring concern for all of us.”

Bailey used his appearance at the LSE to repeat his view that calls for a cutting back of regulation of the financial sector should not lead to a return to risky behavior in the financial services industry that could put the broader economy at risk.

Bailey said in July he disagreed with Finance Minister Rachel Reeves’ description of regulation as a “boot on the neck of businesses” and he defended rules for the banking sector which are overseen by the BoE. — Reuters

Malaysia says RCEP bloc to consider adding new members, improve trade deal

REUTERS

KUALA LUMPUR — The China-backed Regional Comprehensive Economic Partnership (RCEP) will consider adding new members and discuss ways to improve trade flows when its leaders meet for the first time in five years in October, Malaysia’s trade minister said on Monday.

Malaysia plans to hold a summit of the RCEP, the world’s largest trade bloc, when it hosts the annual gathering of the Association of Southeast Asian Nations in Kuala Lumpur.

The RCEP – which includes all 10 ASEAN members as well as China, Japan, South Korea, Australia, and New Zealand – has not held an official leaders’ meeting since November 2020, when they signed a trade deal aimed at lowering tariffs, boosting investment and allowing freer movement of goods within the region.

The RCEP has been seen by some analysts as a potential buffer against tariffs imposed by US President Donald Trump’s administration. The October meeting is likely to coincide with a visit by Trump to Kuala Lumpur to attend the ASEAN summit.

Malaysia’s Investment, Trade and Industry Minister Tengku Zafrul Aziz said the meeting will allow members to suggest improvements to the RCEP trade deal and consider requests from some countries to join the bloc.

“We want to focus on issues that will help RCEP members,” Tengku Zafrul told Reuters in an interview ahead of an ASEAN economic ministers meeting this week.

China has called on countries in the region to embrace multilateral frameworks such as the RCEP to counter the impact of the U.S. tariffs.

Tengku Zafrul said given ASEAN and RCEP members all supported multilateralism, he wasn’t worried about the meeting being “hijacked” by China.

“To be fair to Malaysia and ASEAN member states, and even other RCEP members, they have said the same thing. I mean, Korea, Japan, New Zealand, Australia and all have stated their views on multilateralism,” he said.

“So whether China will hijack the agenda, I don’t think so, because there’s nothing new in our belief about that principle.”

Trump’s tariff drive has seen levies of between 10% and 40% placed on goods from Asian countries, with the majority of major ASEAN economies leveled with a rate of 19%.

The US tariffs are also expected to be a key point of discussion during the ASEAN ministers gathering this week, which will be attended by US Trade Representative Jamieson Greer. — Reuters

First Gen sets P1.7B for initial phase of Indonesia geothermal venture

PHILSTAR.COM

Lopez-led First Gen Corp. is allocating $30 million (P1.7 billion) for the initial phase of its joint geothermal exploration project in Indonesia with PT DSSR Daya Mas Sakti, part of the Sinar Mas Group.

“The first phase is probably around $30 million… parang start lang ’yan,” First Gen President and Chief Operating Officer Francis Giles B. Puno said, noting the venture will proceed to a drilling campaign in later phases.

PT DSSR Daya Mas Sakti is an indirect subsidiary of PT Dian Swastatika Sentosa Tbk engaged in the geothermal energy development business.

Founded in 1996, PT Dian Swastatika Sentosa Tbk is a leading energy and infrastructure company in Indonesia and part of the Sinar Mas.

Mr. Puno described Sinar Mas as a “very established” conglomerate, calling the partnership a strong platform for geothermal development in the region. — Sheldeen Joy Talavera

Robinsons Land raises P7.75B from block sale of RCR shares

ROBINSONSLAND.COM

Robinsons Land Corp. (RLC) has raised P7.75 billion from the overnight block placement of one billion common shares in its real estate investment trust (REIT) unit, RL Commercial REIT, Inc. (RCR).

The placement was priced at P7.75 per share, at the top end of the marketed range, the company said in a disclosure on Tuesday.

The offering was oversubscribed by 3.7 times, prompting RLC to increase the transaction size to one billion shares.

Following the sale, RCR’s public float rose to 39.34%, equivalent to 7.69 billion common shares.

“The transaction saw strong participation from both local institutional investors and fresh foreign accounts,” RLC said.

The shares were sold via transactions exempt from registration under the Philippine Securities Regulation Code and offered offshore under Regulation S of the US Securities Act of 1933.

Proceeds from the sale are scheduled for settlement on Sept. 25, under a Secondary Block Trade Agreement.

RLC said it will submit a reinvestment plan detailing the use of proceeds in line with regulatory requirements.

BPI Capital Corp. acted as sole global coordinator, joint bookrunner, and domestic placement agent, while J.P. Morgan Securities Plc and Maybank Securities Pte. Ltd. served as joint bookrunners and international placement agents. — Beatriz Marie D. Cruz

Ex-DPWH engineer tags lawmakers in Bulacan flood control payoffs

PHILIPPINE STAR/EDD GUMBAN

A former Department of Public Works and Highways (DPWH) official has accused several legislators of receiving payoffs from flood control projects in Bulacan.

At a Senate blue ribbon committee hearing on Tuesday, ex-district engineer Henry C. Alcantara claimed that former Senator Ramon “Bong” Revilla, Jr. and Senators Jose “Jinggoy” P. Estrada and Emmanuel Joel J. Villanueva benefitted from questionable flood mitigation projects.

He also named Party-list Rep. Elizaldy S. Co and former Rep. Mary Mitzi L. Cajayon-Uy as among the proponents of flood control allocations.

Mr. Estrada and Mr. Villanueva earlier denied pocketing flood control funds after they were tagged in a separate investigation by the House of Representatives.

Mr. Alcantara said project proponents got as much as 30% of funding intended for flood projects, though he admitted having no direct transactions with the lawmakers.

Mr. Revilla and Mr. Estrada were previously implicated in the multibillion-peso Priority Development Assistance Fund (PDAF) scam.

Mr. Alcantara told senators money for the alleged kickbacks came from both the General Appropriations Act and unprogrammed funds.

Speaker Faustino “Bojie” Dy III has revoked Mr. Co’s travel clearance to seek medical treatment in the US, asking him to come home within 10 days to answer allegations linking him to questionable budget insertions and contractors in public works projects.

Committee Chairman Senator Panfilo “Ping” M. Lacson approved Mr. Alcantara’s transfer to the Department of Justice for consideration under the Witness Protection Program. — Adrian H. Halili

Hong Kong braces for Super Typhoon Ragasa; schools, businesses shut

A taped store window stands in preparation for Typhoon Ragasa, with the International Finance Centre in the background, in Hong Kong, China, September 22, 2025. REUTERS/TYRONE SIU

HONG KONG – Hong Kong braced for Super Typhoon Ragasa on Tuesday, the world’s most powerful tropical typhoon this year, shutting schools and some businesses, while most passenger flights were scheduled to be suspended later in the day until early Thursday.

Ragasa, packing hurricane-force winds of up to 220km/h (137 mph), is edging closer to the coast of neighbouring southern Guangdong province in China, the Hong Kong Observatory said.

Authorities in the financial hub are set to raise the typhoon signal to 8, its third highest, by 2.20 p.m. (0620 GMT), which will prompt most businesses and transport services to shut down. About 700 flights have been disrupted.

The observatory said it will assess if it needs to issue a higher warning late on Tuesday or early Wednesday.

Ragasa swept through the northern Philippines on Monday, prompting President Ferdinand Marcos Jr to order the country’s disaster response agency to go on full alert and mobilise all government agencies.

The Hong Kong Observatory said hurricane-force winds offshore and on high ground were likely in Hong Kong on Wednesday, with heavy rain expected to lead to a significant storm and sea surge in the densely packed city.

It warned of rising sea levels, which it said would be similar to those seen during Typhoon Hato in 2017 and Typhoon Mangkhut in 2018, both of which caused billions of dollars in damage.

Water levels will rise about two metres (six feet) along Hong Kong’s coastal areas and maximum water levels could reach up to 4-5 metres (12-15 feet) in some areas, the observatory said, urging residents to take appropriate precautions.

Local authorities handed out sandbags on Monday for residents to bolster their homes in low-lying areas, while many people stockpiled daily necessities.

Long queues formed at supermarkets; milk and meat sold out and vegetable prices at fresh-produce markets tripled, according to Reuters witnesses on Monday.

Hong Kong’s Stock Exchange will remain open. It changed its policy late last year to continue trading whatever the weather.Chinese authorities have activated flood control measures in several southern provinces, warning of heavy rain from late on Tuesday.

Residents in the world’s largest gambling hub of Macau are also bracing for significant impact, with school closures and evacuation plans under way.

In China’s technology hub Shenzhen, authorities said they have prepared more than 800 emergency shelters.

Taiwan’s government has evacuated more than 7,600 people from mountainous southern and eastern areas, while transport disruption continued for a second day on Tuesday with 273 flights cancelled and some rail services suspended. — Reuters

World leaders rally behind Palestinian statehood at UN, defying US and Israel

A PALESTINIAN flag flies during a protest in front of the Gare du Nord railway station in Paris as part of a day of nationwide strikes and protests against the government and cuts in the next budget, with supporters of the “Bloquons Tout” (Let’s Block Everything) movement, France, Sept. 18. — REUTERS/BENOIT TESSIER

UNITED NATIONS – Dozens of world leaders gathered at the United Nations on Monday to embrace a Palestinian state, a landmark diplomatic shift nearly two years into the Gaza war that faces fierce resistance from Israel and its close ally the United States.

President Emmanuel Macron announced that France would recognize Palestine statehood at a meeting he convened with Saudi Arabia – a milestone that could boost Palestinian morale but appeared unlikely to change much on the ground.

The most far-right government in Israel’s history has declared there will be no Palestinian state as it pushes on with its fight against militant group Hamas in Gaza following the October 7, 2023, attack on Israel that killed some 1,200 people.

Israel has drawn global condemnation over its military conduct in Gaza, where more than 65,000 Palestinians have been killed, according to local health authorities. In recent weeks, Israel has begun a long-threatened ground assault on Gaza City with few prospects for a ceasefire.

“We must pave the way for peace,” Macron said at the start of the session at the United Nations in New York.

“We must do everything within our power to preserve the very possibility of a two-state solution, Israel and Palestine living side by side in peace and security,” he said before announcing the diplomatic move drawing lengthy applause from the audience.

Israel has said such moves will undermine the prospects of a peaceful end to the conflict.

Turkish President Tayyip Erdogan, Canadian Prime Minister Mark Carney and United Nations Secretary-General Antonio Guterres were among those who also spoke during the event.

Spanish Prime Minister Pedro Sanchez, whose leftist government recognized the state of Palestine in 2024, told Reuters in an interview on Monday that the recent recognition moves were very important.

“You have two countries from the Security Council, the UK and France, recognizing the state of Palestine, and second, within the Western society… there’s a large majority nowadays of countries that already recognize (the) Palestine state,” he said.

Macron outlined a framework for a renewed Palestinian Authority under which France would open an embassy subject to factors such as reforms, a ceasefire and the release of all remaining hostages taken from Israel and held by Hamas in Gaza.

Ahead of this week’s UN General Assembly, Luxembourg, Malta, Belgium and Monaco on Monday also joined the more than three-quarters of the 193 UN members who already recognize a Palestinian state.

Macron’s July pledge on recognition set the latest push in motion, with Britain, Canada and Australia later saying they would follow, and eventually doing so on Sunday.

“We call on those who have not yet done so to follow suit,” Palestinian President Mahmoud Abbas said via video link, as he was unable to attend the milestone events after being refused a US visa.

“We call for your support so that Palestine becomes a full-fledged member of the United Nations,” he added, promising reforms and elections within a year of a ceasefire.

A delegation representing the State of Palestine has observer status at the United Nations – but no voting rights. No matter how many countries recognize Palestinian independence, full UN membership would require approval by the Security Council, where the US has a veto.

The two-state solution was the bedrock of the US-backed peace process ushered in by the 1993 Oslo Accords. The process suffered heavy pushback from both sides and has all but died.

No such negotiations over a two-state solution have been held since 2014.

The United States and Israel boycotted Monday’s meeting. Israel’s UN Ambassador Danny Danon said Israel would discuss how to respond to the announcements of recognition after Prime Minister Benjamin Netanyahu returns to Israel next week.

“Those issues were supposed to be negotiated between Israel and the Palestinians in the future,” Danon told reporters ahead of the meeting. Netanyahu is scheduled to meet US President Donald Trump on September 29 in Washington before returning to Israel.

Netanyahu has rejected numerous calls to end the campaign until Hamas is destroyed and has said he will not recognize a Palestinian state.

The United States has told other countries that Palestinian recognition will create more problems.

Amid Israel’s intensified Gaza offensive and escalating violence by Israeli settlers in the West Bank, there is a growing sense of urgency among some nations to act now before the idea of a two-state solution vanishes forever.

EUROPEAN DIVISIONS AND ISRAELI RESPONSE
While the majority of European countries now recognize a Palestinian state, two of the continent’s largest economies, Germany and Italy, have signaled they are unlikely to make such a move soon.

Germany — long a strong supporter of Israel because of its responsibility for the Holocaust — has grown more critical of Israeli policy, while insisting that recognition of a Palestinian state should come at the end of a political process to agree on a two-state solution.

A German government spokesperson also said on Monday there must be no further annexations in Israeli-occupied territory.

Italy said recognizing a Palestinian state could be “counterproductive.”

Israel is considering annexing part of the occupied West Bank as a possible response as well as specific bilateral measures against Paris, Israeli officials have said, even though the recognitions are expected to be largely symbolic.

Annexation could backfire and alienate such countries as the United Arab Emirates, a global oil power and trade hub with wide diplomatic clout across the Middle East.

The United Arab Emirates, the most prominent of the Arab states that normalized ties with Israel under the US-brokered Abraham Accords in 2020, has said such a move would undermine the spirit of the agreement.

The USUS has warned of possible consequences for those who take measures against Israel, including France as host of the summit. — Reuters

Nvidia to invest up to $100 billion in OpenAI, linking two artificial intelligence titans

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. — REUTERS/ROBERT GALBRAITH/FILE PHOTO

Nvidia will invest up to $100 billion in OpenAI and supply it with data center chips, the companies said on Monday, marking a tie-up between two of the highest-profile players in the global artificial intelligence race.

The move underscores the increasingly overlapping interests of the various tech giants developing advanced AI systems. The deal gives chipmaker Nvidia a financial stake in the world’s most prominent AI company, which is already an important customer.

At the same time, the investment gives OpenAI the cash and access it needs to buy advanced chips that are key to maintaining its dominance in an increasingly competitive landscape. Rivals of both companies may be concerned the partnership will undermine competition.

The deal will involve two separate but intertwined transactions, according to a person close to OpenAI. Nvidia will start investing in OpenAI for non-voting shares once the deal is finalized, then OpenAI can use the cash to buy Nvidia’s chips, the person said.

“Everything starts with compute,” OpenAI CEO Sam Altman said in a statement. “Compute infrastructure will be the basis for the economy of the future, and we will utilize what we’re building with Nvidia to both create new AI breakthroughs and empower people and businesses with them at scale.”

The two companies signed a letter of intent to deploy at least 10 gigawatts of Nvidia systems for OpenAI and said they aim to finalize partnership details in the coming weeks. The power for those chips is equivalent to the needs of more than 8 million U.S. households.

Nvidia shares rose as much as 4.4% after the announcement to a record intraday high, while data center builder Oracle gained about 6%. Oracle is working with OpenAI, SoftBank and Microsoft on a $500 billion project called Stargate, a plan to build massive AI data centers around the world.

Under the new deal, once the two sides reach a definitive agreement for OpenAI to purchase Nvidia systems, Nvidia will invest an initial $10 billion, the person familiar with the matter said. OpenAI was most recently valued at $500 billion.

Nvidia will start delivering hardware as soon as late 2026, with the first gigawatt of computing power to be deployed in the second half of that year on its upcoming platform, named Vera Rubin.

Analysts said the deal was positive for Nvidia but also voiced concerns about whether some of Nvidia’s investment dollars might be coming back to it in the form of chip purchases.

“On the one hand this helps OpenAI deliver on what are some very aspirational goals for compute infrastructure, and helps Nvidia ensure that that stuff gets built. On the other hand the ‘circular’ concerns have been raised in the past, and this will fuel them further,” said Bernstein analyst Stacy Rasgon.

OpenAI, like Google, Amazon and others, has been working on plans to build its own AI chips, aiming for a cheaper alternative to Nvidia. A person familiar with the matter said the deal does not change any of OpenAI’s ongoing compute plans, including that effort or its partnership with Microsoft.

OpenAI was working on a custom chip with designer Broadcom AVGO.O and Taiwan Semiconductor Manufacturing Co 2330.TW, Reuters reported earlier this year. Broadcom shares were down 0.8% after the news.

BROADER INDUSTRY MOVES
The pact is the latest in a series of agreements between major technology players.
Microsoft has invested billions in OpenAI since 2019, and Nvidia last week unveiled a collaboration with Intel on AI chips. Nvidia also committed $5 billion to Intel earlier this month and backed OpenAI in a $6.6 billion funding round in October 2024.

The scale of Nvidia’s latest commitment could attract antitrust scrutiny. The Justice Department and Federal Trade Commission reached a deal in mid-2024 that cleared the way for potential probes into the roles of Microsoft, OpenAI and Nvidia in the AI industry. However, the administration of U.S. President Donald Trump has so far taken a lighter approach to competition issues than the previous Biden administration.

OpenAI and its main backer Microsoft also announced earlier this month that they had signed a non-binding agreement to restructure OpenAI into a for-profit entity, signaling further changes in the governance of the fast-growing AI company.

“The deal could change the economic incentives of Nvidia and OpenAI as it could potentially lock in Nvidia’s chip monopoly with OpenAI’s software lead. It could potentially make it more difficult for Nvidia competitors like AMD in chips or OpenAI’s competitors in models to scale,” said Andre Barlow, an antitrust lawyer with Doyle, Barlow & Mazard.

He added that the Trump administration has taken a pro-business approach to regulations, removing hurdles that would slow AI growth. — Reuters

DHSUD, SHDA lead call to recalibrate housing strategies at the 33rd National Developers Convention

As the Philippines marks National Shelter Month this October, housing developers, policy makers, and industry leaders are set to gather on October 9-10, 2025, at the Rizal Ballroom, Makati Shangri-La, Manila, Makati City, Metro Manila for the 33rd National Developers Convention to recalibrate strategies for delivering affordable, inclusive, and sustainable homes for Filipino families.

Organized by the Subdivision and Housing Developers Association, Inc. (SHDA) in partnership with the Department of Human Settlements and Urban Development (DHSUD), the event carries the theme “ReCalibrate: Upgrading Housing Strategies for a Better Tomorrow.” The event will spotlight urgent housing challenges and sector commitments, including SHDA’s pledge to deliver part of the 250,000 housing units committed by private developers in support of the government’s Pambansang Pabahay Para sa Pilipino Program (4PH). This contribution forms part of the administration’s target of building one million housing units annually.

“By working hand in hand with the DHSUD, we aim to align the industry’s efforts with the government’s housing priorities, especially in expanding affordable housing and building sustainable communities,” said SHDA National Chairman, Ar. Leonardo Dayao, Jr. “This convention is not only a celebration of National Shelter Month but also a call to action for all stakeholders to shape a better housing future for Filipinos.”

The gathering is expected to draw around 200 stakeholders, including top developers, policy makers, investors, and allied partners. Keynote speeches and panel discussions will cover innovative financing models, resilient and sustainable housing design, digital transformation in real estate, and regulatory reforms to accelerate the 4PH rollout.

“This convention is a testament to the strength of collaboration between the public and private sectors,” said SHDA National President, Engr. Francis Richmond Villegas. “Our shared goal is not just to build houses, but to build communities that uplift the lives of Filipino families.”

Through the National Developers Convention, the SHDA reaffirms its role as the unified voice of the housing industry, bridging public and private sector efforts for inclusive growth, innovation, and long-term sustainability.

 

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