Governance
Top tech news stories today: June 5, 2024
In a bold move, Elon Musk rerouted 12,000 Nvidia AI chips worth $500 million from Tesla to his social media platform X and AI startup xAI.
Headline
In a bold move, Elon Musk rerouted 12,000 Nvidia AI chips worth $500 million from Tesla to his social media platform X and AI startup xAI.
Context
Ripple is optimistic about the crypto industry’s lobbying efforts for the 2024 U.S. elections, having raised $102 million. Google restructures its privacy team amidst layoffs. Ripple’s president is optimistic about the crypto industry’s lobbying efforts in the 2024 U.S. elections. Ripple, the second-largest donor to the super PAC Fairshake, has contributed to a record $102 million raised by crypto-backed super PACs. ( Yahoo!Finance )
Evidence
Pending intelligence enrichment.
Analysis
FTX requested a U.S. judge to halt external lawsuits against its insiders and venture capital firms, arguing these cases hinder its $16 billion repayment plan to customers. ( Market Screener ) The ARIN Community Grant Program deadline has been extended to Sunday, 23 June, offering a final chance for noncommercial projects to secure funding. The program supports initiatives that enhance Internet technical improvements, registry processes, informational outreach, and research. ( ARIN ) Intel and Apollo have announced an $11 billion investment deal, with Apollo acquiring a 49% equity interest in Intel’s Fab 34 joint venture. This second SCIP arrangement under Intel’s Smart Capital strategy aims to enhance financial flexibility. ( Intel Newsroom ) Tesla is expected to spend $3-$4 billion on Nvidia hardware this year, according to CEO Elon Musk. Out of Tesla’s $10 billion AI-related capital expenditure, around half is internal. ( Channel News Asia )
Key Points
- Fintech
- 1. Crypto industry’s lobbying drive will pay off in US elections, Ripple president says
- 2. FTX seeks to stop outside litigation against insiders, VC firms
- Internet governance
- 3. ARIN community grant program application deadline extended
Actions
Pending intelligence enrichment.
