Fintech
1. U.S. crypto exchange Coinbase adds three board members, including OpenAI executive
U.S. cryptocurrency exchange Coinbase has added three new members to its board of directors, including an executive from ChatGPT-maker OpenAI, as the company steps up its efforts to sway U.S. crypto policy. (CNA)
2. Trump, Republicans court crypto votes and dollars at ‘Bitcoin 2024’ conference
Republican nominee and former U.S. President Donald Trump once blasted cryptocurrency, calling it a “scam.” Now, he is headlining one of the industry’s biggest conferences. (Reuters)
Tech trends
3. GM’s Cruise looks to start charging for robotaxi rides next year, Bloomberg News reports
General Motors’ self-driving technology unit, Cruise, aims to return to running fully autonomous rides later this year and charge fares by early 2025, Bloomberg News reported on Thursday, citing people familiar with the matter. (Investing)
4. Tech-led selloff drives record volume in NDX options
The selloff in U.S. stocks is driving record trading options on the Nasdaq 100 Index as the tech-heavy gauge is battered by turbulence in giant tech stocks. (Investing)
5. Apple’s China smartphone shipments drop 6.7% as Huawei surges, data shows
Apple’s smartphone shipments in China fell by 6.7% in the second quarter of 2024, as the tech giant faced intensifying competition from rivals like Huawei, according to data from market research firm Canalys. (Economic Times)
6. YouTube speeds in Russia may drop by up to 40% this week to pressure company, says senior lawmaker
YouTube speeds on desktop computers in Russia may drop by around 40% this week and up to 70% the following week, a senior Russian lawmaker, close to the authorities, said on Thursday, part of a drive to persuade the video hosting site to reinstate blocked Russian channels. (Yahoo Finance)
7. Oracle signs deal to use Italy’s Rai Way data centres
Oracle has signed an accord with Rai Way to install its systems for artificial intelligence applications at the Italian infrastructure firm’s data centres, the two companies said on Thursday. (Market Screener)
AI
8. Google AI systems make headway with math in progress toward reasoning
Alphabet’s Google unveiled a pair of artificial intelligence systems on Thursday that demonstrated advances in solving complex mathematical problems, a key frontier of generative AI development. (Market Screener)
9. OpenAI enters Google-dominated search market with SearchGPT
OpenAI is venturing into a territory long dominated by Google with the selective launch of SearchGPT, an artificial intelligence-powered search engine with real-time access to information from the internet. (Reuters)
10. Musk to discuss $5 billion xAI investment with Tesla board
Tesla CEO Elon Musk said on Thursday he will discuss a $5 billion investment in artificial intelligence startup xAI, as the electric-vehicle maker looks to double down on efforts to expedite the development of its robotaxi and self-driving products. (The Print)
11. Amazon racing to develop AI chips cheaper, faster than Nvidia’s, executives say
Inside Amazon.com’s chip lab in Austin, Texas, half a dozen engineers on a Friday afternoon put a closely guarded new server design through its paces. (Aol)
12. Meta oversight board tells company to clean up rules on AI-generated pornography
The board, which is funded by the social media giant but operates independently, issued its ruling after reviewing two pornographic fakes of famous women created using artificial intelligence and posted on Meta’s Facebook and Instagram. (Economic Times)
13. AI cloud provider SMC plans global rollout, CEO says
Singapore-headquartered AI cloud provider Sustainable Metal Cloud (SMC) is planning to expand globally as its sees fast-growing demand for its energy saving technology, its CEO said on Thursday. (Yahoo Finance)
