Microsoft’s New AI Chip Claims 7x the Speed of Its Last One

Microsoft has unveiled the Microsoft Maia 300 chip, its third-generation in-house AI accelerator, as part of a custom-silicon programme the company says will become its primary inference hardware starting in 2027. Microsoft claims the new chip delivers up to seven times the token throughput per rack compared with its predecessor, Maia 200, in matched 96-accelerator configurations.

The chip is built around eight HBM4 memory stacks delivering 18 terabytes per second of bandwidth, with a thermal design power of 950 watts — about 200 watts more than Maia 200. It uses a chiplet design, with compute dies manufactured by TSMC on its advanced N2P process, paired with separate memory-controller and input/output chiplets.

What the Microsoft Maia 300 chip changes at the rack level

A full production rack holds 96 Maia 300 accelerators and draws about 167 kilowatts of power, aggregating to 27.6 terabytes of HBM capacity and 1.7 petabytes per second of combined memory bandwidth across the rack. Microsoft says the chip supports low-precision number formats, including an enhanced version of MXFP4, which reduces the memory needed for the “key-value cache” that large language models rely on during inference — a detail that matters because memory bandwidth, not raw compute, is increasingly the bottleneck in large-scale AI inference systems.

Scale-up communication between racks uses Microsoft’s own Ethernet-based AI transport protocol, which the company says can span anywhere from a single rack to an entire data centre, a design choice aimed at avoiding reliance on proprietary interconnects from chip suppliers.

Silicon wafer manufacturing process behind chips like the Microsoft Maia 300 chip

How it compares with Maia 200

Maia 200, the current-generation chip now in production, is built on TSMC’s 3-nanometer process with 216GB of HBM3e memory and 7 terabytes per second of bandwidth, running at 750 watts. It already powers Microsoft Copilot and supports model development inside Microsoft’s MAI research team, and is rolling out across the US, Europe and Australia. Microsoft says Maia 200 delivers up to 1.7 times more tokens per watt than comparable GPU infrastructure for workloads including Teams, Copilot and Cowork AI features. GitHub Copilot and Microsoft Foundry support are both expected to go live on Maia 200 before the end of 2026.

Maia 300 is positioned as the next step up rather than a replacement arriving immediately — production rollout is scheduled for 2027, when Microsoft says the Maia family will scale to “multi-gigawatt deployments” and become the company’s primary inference hardware going forward.

The bigger picture: cutting dependence on external GPU suppliers

Microsoft’s push into custom silicon mirrors moves by Google, Amazon and Meta, all of which have built their own AI accelerators partly to reduce dependence on externally sourced GPUs amid years of tight supply and high prices. Microsoft has reportedly discussed securing roughly 300,000 Maia 300 units for 2027 delivery as part of scaling the programme, and the company’s own framing emphasizes efficient data movement — rather than raw processing power alone — as the main constraint on large inference systems today.

Notably, Anthropic has said it plans to run Claude models on Maia hardware, a detail that signals Microsoft is positioning the chip not just for its own internal workloads but as infrastructure other AI labs can use through Azure.

What comes next for Microsoft’s AI chips

The real test for Maia 300 will come once production ramps in 2027 and independent benchmarks can verify Microsoft’s internal performance claims against real workloads, rather than the company’s own marketing figures. Enterprise customers evaluating Azure AI infrastructure will be watching pricing and availability details that Microsoft has not yet disclosed, along with how quickly the chip reaches the “multi-gigawatt” scale the company has promised.

The broader AI hardware market will also be watching whether Maia 300’s efficiency claims hold up well enough to meaningfully dent Nvidia’s dominance in data-centre AI chips, or whether, as with Maia 200 before it, the chip mainly serves Microsoft’s own internal demand rather than reshaping the wider competitive landscape.

Maia 300 questions, answered

When does the Maia 300 enter production?
Microsoft says production rollout begins in 2027, when the chip becomes its primary inference hardware at multi-gigawatt scale.

How much faster is it than Maia 200?
Microsoft claims up to seven times the token throughput per rack in matched 96-accelerator configurations.

Who manufactures the chip?
TSMC produces the compute chiplets using its N2P process node.

What is HBM4 and why does it matter?
HBM4 is a high-bandwidth memory standard; the eight stacks on Maia 300 deliver 18 terabytes per second, addressing memory bandwidth as the main bottleneck in large AI inference workloads.

Will other AI companies use Maia 300?
Microsoft says Anthropic plans to run Claude models on Maia hardware, suggesting the chip will serve external Azure customers as well as internal workloads.

Does this replace Maia 200 immediately?
No. Maia 200 remains in production and continues rolling out through 2026, with Maia 300 arriving as the next generation starting in 2027.

Sources

  • Techzine Global — Microsoft unveils Maia 300, designed for multi-gigawatt deployments. techzine.eu
  • Techmeme — Microsoft says Maia 300 racks will hold 96 chips and use ~167 kW of power. techmeme.com

For related coverage, see our reports on the DRAM memory chip shortage and Finland’s halt on a Google data centre.

Someone Hid a Chip Inside a Ledger Wallet — Now $86 Million Is Missing

Ledger has confirmed that a Ledger hardware wallet implant — an unauthorized component secretly added to a device — was found inside a unit belonging to one user caught up in losses now estimated above $86 million. The device was purchased through CryptoBilis, a Ledger reseller operating across Indonesia, Malaysia and the Philippines, which has suspended sales of its hardware-wallet inventory while the investigation continues.

On-chain investigator Bitquery separately estimated losses closer to $92.9 million spread across 311 wallets on five different blockchains, though that figure comes from a third party and has not been confirmed by Ledger itself. The company stressed that one confirmed implant does not establish that tampering caused every reported loss, and that the full scope of the incident remains under investigation.

How the suspected implant surfaced

Reports of unusual losses tied to CryptoBilis-sourced devices first surfaced around October 9. The story escalated the next day, October 10, when former Mt. Gox chief executive Mark Karpelès posted images of a suspicious chip he said was concealed beneath the screen of a Ledger device he had purchased in Malaysia. Binance founder Changpeng Zhao issued his own warning to Ledger users that same day, amplifying concern before Ledger itself issued a formal update.

Ledger’s October 10 statement confirmed the implant in one affected user’s device, but the company said it has found no indication that its own internal security infrastructure, systems or services were compromised. It has not confirmed whether its broader device supply chain was affected beyond the CryptoBilis channel, and it said it is working with authorities alongside the security-response group SEAL 911, which it thanked for assistance.

Circuit board close-up illustrating the hidden chip in the Ledger hardware wallet implant case

What the Ledger hardware wallet implant actually is

A hardware implant, in this context, is a small, concealed electronic component added to a device after manufacturing — physical tampering rather than a software hack. Because it sits inside the hardware itself, it can potentially intercept information a legitimate software update would never touch, which is why Ledger’s advice to affected users focuses on replacing the device entirely rather than simply updating firmware.

Ledger says it is developing additional anti-tampering measures in response, though it has not detailed what those measures will involve or when they will ship.

What Ledger is telling affected customers to do

Ledger’s guidance splits into two groups. Customers who bought a device through CryptoBilis in the 90 days before the warning and have not yet set it up are told not to begin setup at all. Those who already completed setup on such a device are advised to move their crypto holdings to a new Ledger signer using a freshly generated recovery seed, following the company’s official migration instructions rather than any third-party tool.

Ledger has also repeated a standing warning that it will never ask for a user’s 24-word recovery phrase under any circumstance, and that anyone offering “emergency help,” investigation services or fund recovery in exchange for that phrase is attempting a scam layered on top of the original incident.

What Ledger users should do next

Anyone who bought a hardware wallet through CryptoBilis in the past three months should treat the device as potentially compromised regardless of whether they have noticed anything unusual, given that a hardware implant can sit dormant and undetected. Ledger’s official support channels remain the only safe route for assistance — not search-result links, social media replies offering help, or unsolicited messages referencing the case.

Beyond this specific incident, the case is likely to renew scrutiny of hardware-wallet reseller networks generally, since the core vulnerability here was a tampered supply chain rather than a flaw in Ledger’s own design. Other hardware wallet makers selling through third-party resellers in Southeast Asia may face similar questions in the coming weeks.

Ledger implant: what you need to know

How much money has been lost?
Reports cite more than $86 million in losses, with on-chain investigator Bitquery estimating closer to $92.9 million across 311 wallets — figures Ledger has not independently confirmed in full.

Which reseller is involved?
CryptoBilis, which sells Ledger devices in Indonesia, Malaysia and the Philippines and has paused sales of its hardware-wallet stock.

Was Ledger’s own system hacked?
Ledger says it has no indication its internal infrastructure or services were compromised; the issue traces to physical tampering of devices sold through one reseller.

What should I do if I bought through CryptoBilis?
If you haven’t set up the device, don’t start now. If you already set it up, move your funds to a new Ledger device with a freshly generated recovery seed.

Will Ledger ever ask for my recovery phrase?
No. Ledger says it will never ask for your 24-word phrase, and anyone who does is attempting a scam.

Is the investigation finished?
No. Ledger describes the probe as ongoing and has not yet confirmed the full scope of affected devices.

Sources

  • The Crypto Times — Ledger Confirms Hardware Implant Amid $86M Loss Probe, Urges Users to Re-Seed. cryptotimes.io
  • KuCoin News — Ledger Confirms Unauthorized Hardware Implants in Wallets, Involving $92M in Reported Losses. kucoin.com

For related coverage, see our reports on the NoOnes shutdown and frozen user funds and the Revolut data breach.

Four of America’s Biggest Banks Report Earnings Today

Bank earnings season opens today, October 13, with JPMorgan Chase, Goldman Sachs, Wells Fargo and Citigroup all due to report third-quarter results. JPMorgan releases its numbers around 7:00 a.m. ET ahead of an 8:30 a.m. call, setting the tone for a reporting window that will shape how investors read the health of the US economy heading into year-end. Bank of America and Morgan Stanley follow on October 14, with U.S. Bancorp and Charles Schwab reporting October 15.

Analysts polled ahead of the releases expect JPMorgan to post earnings of roughly $5.82 to $5.84 per share on about $50.6 billion in revenue. Goldman Sachs is expected to report between $16.00 and $16.40 per share, Wells Fargo around $1.85, and Bank of America between $1.17 and $1.18 when it reports Tuesday.

Why this bank earnings season matters more than usual

The results land against an unusual economic backdrop. The Federal Reserve raised its benchmark rate to a range of 3.75% to 4.00% in September, the 10-year Treasury yield sits above 5%, and the 30-year Treasury is at its highest level in 24 years. At the same time, the US added only 29,000 jobs in September and unemployment rose to 4.2% — a combination of high rates and a cooling labour market that puts competing pressures on bank balance sheets.

Financial stocks make up roughly one-eighth of the S&P 500, so how these four banks perform against expectations — not simply whether they turn a profit — will move markets well beyond the banking sector itself.

Bank building representing the lenders reporting results as bank earnings season opens

The three numbers investors are actually watching

Net interest income is the first battleground. Higher rates generally lift what banks earn on loans, but rising deposit costs can offset much of that gain, and Wells Fargo has already guided to roughly $50 billion in net interest income for the full year. Trading and dealmaking revenue is the second. JPMorgan expects investment banking and markets revenue to rise in the mid-to-high teens percentage range from a year earlier, and Citigroup has guided to single-digit growth, building on what was already a record second quarter across Wall Street. Bank of America is the outlier, projecting investment banking fees to fall 10% to 20%.

Credit quality is the third and most closely watched figure. Slower hiring and the uptick in unemployment could push banks to set aside more money for loan losses, particularly on credit cards and auto loans — a trend that tends to show up first in consumer-facing lenders like Wells Fargo and Bank of America rather than in Goldman’s more trading-heavy book.

A bond-market risk hiding in the balance sheet

Rising Treasury yields also reduce the market value of the government bonds banks hold on their balance sheets, a risk that matters most at smaller regional banks with less diversified income but is still worth watching at the four majors reporting this week. None of the four is expected to report a loss, but any sign that bond losses are eating into capital ratios would likely draw sharp analyst questions on the earnings calls.

Wall Street has already priced in a fairly optimistic quarter, with major indexes near record highs heading into the results. That sets a high bar: strong absolute numbers that still miss elevated expectations could trigger sharp stock moves regardless of year-over-year growth.

What investors should watch this week

With JPMorgan and Goldman out first, their commentary on net interest income trends and credit provisioning will likely set expectations for Wells Fargo and Citigroup later the same day, and for Bank of America and Morgan Stanley on Thursday. Analysts will be listening closely to management guidance on 2027, since a single quarter’s beat or miss matters less to long-term stock moves than what executives say about the trajectory of rates, credit costs and trading revenue heading into next year.

U.S. Bancorp and Charles Schwab round out the week on October 15, giving a fuller picture of how regional and wealth-management-focused institutions are faring compared with the Wall Street giants that report first.

Earnings season: your questions answered

Which banks report today?
JPMorgan Chase, Goldman Sachs, Wells Fargo and Citigroup all report third-quarter results on October 13.

What is JPMorgan expected to earn?
Analysts expect roughly $5.82 to $5.84 per share on about $50.6 billion in revenue.

Why does net interest income matter so much?
It reflects the gap between what banks earn on loans and pay on deposits; higher rates can widen that gap, but rising deposit costs can erode it.

Are banks expecting more loan losses?
Slower hiring and rising unemployment are pushing some banks to set aside more for potential credit losses, especially in consumer lending.

Which banks report later in the week?
Bank of America and Morgan Stanley report October 14, followed by U.S. Bancorp and Charles Schwab on October 15.

How much of the stock market do banks represent?
Financial stocks make up about one-eighth of the S&P 500, so their results tend to move the broader market.

Sources

  • RiskStock — Bank Earnings Start October 13: A Simple Guide to What JPMorgan, Goldman and the Rest Will Tell Us. riskstock.com
  • MarketBeat — JPMorgan Chase & Co. (JPM) Q3 2026 Earnings Date, Time & Estimates. marketbeat.com

For related coverage, see our reports on the Fed’s October rate decision, the gap between stock highs and consumer sentiment, and mortgage rates hitting a three-year high.

Commonwealth Master’s Scholarships Close in 7 Days: Are You Eligible?

The Commonwealth Master’s Scholarships for 2027/28 close at 16:00 BST on Tuesday 20 October, according to the Commonwealth Scholarship Commission (CSC). That leaves seven days from today, 13 October 2026. The awards fund study at a UK university from September or October 2027. Candidates cannot apply directly, so the real clock is often earlier than 20 October.

On this page

Who can apply for the Commonwealth Master’s Scholarships

You must be a citizen of an eligible Commonwealth country, or hold refugee status granted by one, or be a British Protected Person. You must also live permanently in an eligible country. The CSC list includes Bangladesh, Ghana, India, Kenya, Malaysia, Nigeria, Pakistan, South Africa, Sri Lanka and Uganda, plus many small island states, which the CSC says it particularly welcomes.

You need a first degree of at least upper second-class (2:1) honours by September 2027. A lower second-class degree can work if you also hold a relevant postgraduate qualification. You must show that you cannot afford UK study without the award. The CSC does not normally fund a second master’s, and anyone who has studied at master’s level in the UK is not eligible.

The London skyline, where many Commonwealth Master's Scholarships holders study
Many scholars study in London, where the stipend is higher.

What the award pays for

The CSC lists four main items. It pays approved airfare to the UK and back, and it pays full tuition fees by agreement with the university. The monthly stipend is £1,712, or £2,000 at universities in the London area, at current rates. A study travel grant covers study-related travel. Scholars who are widowed, divorced or single parents can also receive a partial contribution of £622 a month for a first child and £154 for the second and third children under 16. Dependants’ airfares are not covered.

Why your nominator’s date matters

This is the point most readers miss. The CSC accepts no direct applications. You apply to a nominating body, such as a national nominating agency, and each one sets its own closing date and extra criteria. The CSC says nominators must put their candidates forward by December 2026, and results are expected by July 2027.

Here is a hypothetical case. Chidi is a Nigerian doctor with a 2:1 who wants a public health master’s in Edinburgh. He sees the 20 October date and plans to apply on 19 October. His national nominator, however, closed three weeks earlier. Chidi is an illustration, not a real applicant, but the lesson is real: confirm your nominator’s date today.

Documents to upload before the deadline

Applications go through the CSC’s online system only, and there is no application fee. You upload a copy of your passport or national ID, full transcripts for all higher education, and two signed PDF references. Transcripts not in English need certified translations. The CSC says applications cannot be edited after submission, and late applications are not accepted. Ask your referees now, because two signed references often take the longest.

The week ahead: a short checklist

Start with the nominator, not the portal. Confirm the closing date and any extra rules. Next, order transcripts and translations. Then brief both referees. Finally, submit a day early to leave room for upload problems. If you miss this round, other UK and European awards close soon. Our guides cover the Chevening 2027/28 timeline and the Gates Cambridge deadlines. A scholarship listing compiled by Global South Opportunities on 8 October also shows Commonwealth PhD awards closing on 20 October.

Not sure which route fits your profile? Try our visa eligibility checker to plan the student visa step that follows an award.

Eligibility traps to check before you apply

Four details trip up strong candidates. First, the CSC prefers applicants who have already finished their undergraduate degree. Second, it does not normally fund a second master’s. Third, anyone who studied at master’s level at a UK institution is not eligible, and neither is anyone who held a Commonwealth Master’s scholarship before. Fourth, you must be free to start in the UK by September 2027. There is no age limit, so mid-career professionals can apply.

Commonwealth scholarship FAQ

When is the Commonwealth Master’s Scholarships deadline?

The CSC states 16:00 BST on Tuesday 20 October for the 2027/28 round. Your nominating body may close earlier.

Can I apply to the CSC directly?

No. You apply through a nominating body, and each sets its own closing date. The main route is a national nominating agency.

What is the monthly stipend?

The CSC lists £1,712 a month, or £2,000 for universities in the London area, at current rates.

Is there an application fee?

No. The CSC states that there is no application fee.

Can I edit my application after I submit it?

No. The CSC says applications cannot be edited after submission, and it does not accept late applications.

Sources

Hackers Turned French Supermarket Fridges Into Ovens

A French supermarket cyberattack disabled refrigeration systems at hundreds of stores this week, pushing fridges and freezers as high as 50°C and forcing retailers to throw out large volumes of spoiled food. Carrefour said 80 of its stores were hit, Les Mousquetaires (owner of Intermarché) reported about 150 affected locations, Monoprix said roughly 5% of its 490 stores were struck, and Cooperative U also confirmed it was targeted. E.Leclerc and Auchan did not respond to requests for comment.

At Intermarché, cooling units stayed overheated for six hours overnight, well past the point where stored food becomes unsafe to sell. The retailer’s chief executive said the attack would cost “tens of millions of euros nationwide in a single day” once spoiled stock across the network is tallied.

How the French supermarket cyberattack worked

Supermarket cold aisles are typically run by networked control panels that let maintenance contractors adjust temperatures remotely over the internet — a convenience that also creates an attack surface. A source close to Prime Minister Sébastien Lecornu said France’s national cybersecurity agency, ANSSI, traced the intrusion to a vulnerability in refrigeration control software made by the Danish manufacturer Danfoss.

Danfoss said the affected units were running outdated firmware and that it had repeatedly urged customers to update their systems. Security researchers at Claroty’s Team82 had already published findings in August about vulnerabilities in a specific Danfoss controller model, the AK-SM 800A, which later firmware updates addressed — though the company has not confirmed that this was the exact model exploited in this week’s attack.

Computer code on a screen representing the hack behind the French supermarket cyberattack

A wider European footprint than first reported

France was the hardest-hit country, but security researcher Felix Aime of the firm Sekoia said similar disruptions also hit retailers in Spain, Portugal, Poland, Germany and Belgium. No group has claimed responsibility for the campaign, and investigators have not yet said whether the European incidents share a single origin or represent copycat activity exploiting the same known flaw.

The Paris prosecutor’s office has opened an investigation and described the campaign as a large-scale attack. Lecornu ordered ANSSI to lead the technical response, and French officials are coordinating with counterparts elsewhere in Europe while assessing whether other companies using similar industrial control systems are exposed.

Food safety and the clean-up

Affected stores discarded spoiled stock rather than risk selling food that had sat above safe temperatures for hours, a decision retailers described as necessary to eliminate health risk rather than optional caution. The French retail federation FCD publicly called on Danfoss for full transparency about the scope of the vulnerability, and some of the hardest-hit stores had reopened for business by midweek once technicians restored manual control over the cooling systems.

The incident echoes a smaller episode in late August, when roughly a dozen US military commissaries reported similar refrigeration failures and food losses, though officials have not formally linked the two events. Separately, Dutch retailer Ahold Delhaize reported what it called a “security issue” on its own network around the same time, while stating there was no reason to connect it to the French attacks.

Where this investigation goes from here

With no group claiming responsibility and the entry point only partly confirmed, French investigators face a familiar challenge in industrial-control cyberattacks: proving exactly how attackers got in versus simply patching the hole they used. Retailers across the affected countries are now under pressure to audit which of their own refrigeration and building-management systems run outdated firmware, since the underlying weakness — internet-connected equipment nobody got around to updating — is common across the sector, not unique to Danfoss customers in France.

Expect regulators in Brussels and national cybersecurity agencies to use the episode to push for mandatory patching timelines on industrial control systems, a debate that has simmered in EU policy circles for years without resulting in binding rules for retail infrastructure specifically.

Common questions about the attack

How many stores were affected?
At least 80 Carrefour stores, about 150 Intermarché locations, roughly 5% of Monoprix’s 490 stores, and an unconfirmed number of Cooperative U stores — likely several hundred in total across France.

What caused the fridges to overheat?
Investigators say attackers exploited a vulnerability in Danfoss refrigeration control software running outdated firmware, letting them remotely push temperatures as high as 50°C.

Did other countries get hit?
Yes. A security researcher reported similar disruptions in Spain, Portugal, Poland, Germany and Belgium, though France was hit hardest.

Has anyone claimed responsibility?
No group had claimed the attack at the time of reporting.

How much will this cost retailers?
Intermarché’s CEO estimated losses of tens of millions of euros nationwide in a single day; no industry-wide total has been published.

Is the food safe once stores reopen?
Retailers discarded stock that sat above safe temperatures and reopened only after restoring manual control of cooling systems, according to the French retail federation.

Sources

  • ABC News Australia — Hackers raise fridge temperatures at hundreds of French supermarkets to spoil food. abc.net.au
  • BleepingComputer — Cyberattack shuts down refrigerators at French supermarkets. bleepingcomputer.com

For more on recent breaches, see our coverage of the Denmark CPR register breach and the Berlin ransomware attack.