The UK's CMA is creating a new competition regime for digital markets to tackle the concentration of market power in the hands of a small number of tech firms. The regime will focus on firms designated as having Strategic Market Status (SMS) and will include Conduct Requirements and Pro-Competition Interventions. The CMA will have the power to prevent anti-competitive practices and address misuse of market power. The CMA has outlined its approach to the new regime and plans to release more detailed draft guidance for consultation. Additionally, the CMA has expressed concerns about partnerships between large tech companies and developers of foundation models in the AI sector and has proposed principles to guide their development and use. Competition law advisors should be aware of the new regime and its potential implications for tech firms operating in digital markets, as well as the CMA's concerns and proposed principles for AI partnerships.