Fintech
1. Fintech Bolt is buying out the investor suing over Ryan Breslow’s $30M loan
Bolt says it has settled its long-standing lawsuit with its investor Activant Capital. One-click payments startup Bolt is settling the suit by buying out the investor’s stake “after which Activant will no longer hold any interest in Bolt,” the company said in a statement. (Techcrunch)
2. Sam Bankman-Fried’s jury only saw ‘half the picture,’ lawyer says in appeal
The jury that convicted Sam Bankman-Fried of stealing billions of dollars from customers of his FTX cryptocurrency exchange only saw “half the picture” because the judge did not allow in critical evidence, his lawyer argued in their appeal on Friday. (USNews)
IT infrastructure
3. Nvidia’s stock market dominance fuels big swings in the S&P 500
Nvidia’s huge stock rally is still exerting an outsized influence over the S&P 500 index , reinforcing concerns that broader markets could be hurt if the chipmaking giant’s fortunes turn. (Yahoo!Finance)
Tech trends
4. OpenAI’s stunning $150 billion valuation hinges on upending corporate structure, sources say
OpenAI’s new financing round is expected to come in the form of convertible notes, according to sources with direct knowledge of the matter, who said its $150 billion valuation will be contingent on whether the ChatGPT-maker can upend its corporate structure and remove a profit cap for investors. (CNA)
5. EU break-up order to Google unlikely for now, sources say
EU antitrust officials are considering ordering Alphabet’s Google to end anti-competitive practices in its adtech business, but will not order a breakup as they had previously warned, people with direct knowledge of the matter said. (Reuters)
6. Brazil top court lifts Starlink, X bank account freeze after $3M transfer
Brazil’s Supreme Court Justice Alexandre de Moraes decided to lift freezes previously imposed on Starlink and X bank accounts after ordering the transfer of 18.35 million reais ($3.3 million) from the accounts to the national coffers. (mint)
7. TikTok faces crucial court hearing that could decide fate in US
TikTok and parent company ByteDance face a key court hearing on Monday in a legal battle seeking to block a law that could ban the app used by 170 million Americans as soon as Jan. 19. (The Economic Times)
8. Trump says he is not selling his shares of media company
Republican presidential candidate Donald Trumpsaid on Friday he will not sell his shares in the company that owns his Truth Social platform when limits on selling are lifted in the coming days, driving up the stock after a recent selloff. (Reuters)
9. Apple AirPods Pro granted FDA approval to serve as hearing aids
The iPhone 16 took center stage at Apple’s “It’s Glowtime” event, but the most interesting tidbit came from a different line entirely. Indeed, among a sea of new hardware came an intriguing software update to one already on the market: the AirPods Pro 2. (Techcrunch)
AI
10. Fei-Fei Li’s World Labs comes out of stealth with $230M in funding
Fei-Fei Li, the Stanford professor many deem the “Godmother of AI,” has raised $230 million for her new startup, World Labs, from backers including Andreessen Horowitz, NEA, and Radical Ventures. (Techcrunch)
11. Meta to push on with plan to use UK Facebook and Instagram posts to train AI
Mark Zuckberg’s Meta is to go ahead with controversial plans to use millions of UK Facebook and Instagram posts to train its artificial intelligence (AI) technology, in a practice that is effectively outlawed under EU privacy laws. (The Guardian)
