| Bloomberg: |
In a letter on October 27, OpenAI asked the Trump administration to expand a 35% Chips Act tax credit to help lower the cost of AI infrastructure — OpenAI has asked the Trump administration to revamp a Chips Act tax credit to help lower the cost of artificial intelligence infrastructure … | Osmond Chia / BBC: |
Texas Attorney General Ken Paxton sues Roblox, saying it's a “breeding ground for predators” that is “flagrantly ignoring” safety laws and “deceiving parents” — Texas Attorney General Ken Paxton says he has sued Roblox over “flagrantly ignoring” … | Juby Babu / Reuters: |
Meta says it will invest $600B in the US infrastructure and jobs by 2028; Zuckerberg told Trump at a September dinner that Meta will spend “at least $600B” — Meta Platforms (META.O) on Friday said it will invest $600 billion in U.S. infrastructure and jobs over the next three years … | Euronews: |
Denmark's government has reached a political agreement to ban social media access for anyone under 15, with a possible parental consent exception from age 13 — The proposal would be one of the most sweeping steps yet by a European country to curb social media use among young people.| Suzanne Smalley / The Record: |
Unit 42: “commercial grade” spyware called Landfall, likely zero-click, was used in a hacking campaign aimed at Samsung Galaxy phones in the Middle East — Security researchers on Friday revealed the discovery of “commercial grade” spyware used in a 9-month-long hacking campaign aimed … | Lydia Beyoud / Bloomberg: |
Study: Polymarket's trading volume has been inflated by wash trading, accounting for an average of 25% of all buying and selling over the past three years — The volume of activity on Polymarket, one of the most popular prediction markets, has been significantly inflated by so-called wash trading … | The Information: |
Sources: Google Gemini co-lead Noam Shazeer clashed with colleagues on internal forums over topics like gender and Gaza; moderators deleted some of his comments — This spring, Google AI leader Noam Shazeer posted a comment in one of the company's internal discussion forums … | Adam Zsolt Wagner / @azwagner_: |
| Alex Danco / a16z: |
Both Baumol effect and Jevons paradox may apply to the AI supercycle, as services with AI productivity gains get cheaper, while those without AI become costlier — The Baumol Effect and Jevons paradox are related — If you live in the United States today, and you accidentally knock a hole in your wall … | Allie Garfinkle / Fortune: |
Neobank Mercury says it has hit $650M in annualized revenue, up from $500M by end of 2024, and has been GAAP profitable on net income and EBITDA for three years — Mercury's Immad Akhund. — MERCURY — The fintech roller coaster—after a few years of barrel rolls and corkscrews … | Bailey Lipschultz / Bloomberg: |
Trump Media reports Q3 net sales down 3.8% YoY to $972.9K and a net loss of $55M, up from $19M in Q3 2024; its stock is down 70% from a January high — Less than one year into Donald Trump's second term and the post-election ebullience has evaporated from shares of his social media company … | Inti Landauro / Reuters: |
France's Finance Ministry halts the suspension proceedings of Shein that was initiated on November 5 after Shein withdrew illicit products from its platform — The French Finance Ministry on Friday halted the suspension proceedings of Chinese online retailer Shein initiated two days ago … | Kashmir Hill / New York Times: |
Seven lawsuits in California, including four wrongful death lawsuits, claim ChatGPT encouraged dangerous discussions, leading to suicides and harmful delusions — Seven complaints, filed on Thursday, claim the popular chatbot encouraged dangerous discussions and led to mental breakdowns.| AnnaMaria Andriotis / Wall Street Journal: |
Sources: Samsung is in talks with Barclays to launch a consumer credit card in the US; it's also exploring a high-yield savings account, BNPL product, and more — South Korean tech giant and Barclays are in advanced talks to launch a credit card, with both seeking bigger inroads into Americans' financial lives| Bloomberg: |
China is letting Nexperia export chips again, per officials from several auto companies; shares of Wingtech, Nexperia's Chinese parent company, close up 9.70% — China is allowing Dutch chipmaker Nexperia to export again from its operations in the country, setting the stage for the Netherlands … | Bloomberg: |
| George Hammond / Financial Times: |
Sources: Roelof Botha was ousted by senior Sequoia partners amid concerns about his “imperial style” leadership, AI investment strategy, and internal clashes — Partners called vote to oust chief after controversial incidents rocked Silicon Valley venture capital firm| Ben Weiss / Fortune: |
Commonware, which develops open-source code for launching blockchains, raised $25M led by Tempo, a stablecoin-focused blockchain backed by Stripe and Paradigm — Patrick O'Grady, founder of Commonware. — COURTESY OF COMMONWARE — A high-profile project launched by fintech giant Stripe …
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| Sayantani Ghosh / Reuters: |
| Barbara Moens / Financial Times: |
| Ernesto Van der Sar / TorrentFreak: |
| Jared Perlo / NBC News: |
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| Qianer Liu / The Information: |
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