Riot Platforms made a bid for Bitfarms. Apple introduced Tap to Cash, and Oracle’s cloud surged with AI. Samsung plans to expedite AI chip production, and South Korea’s Rebellions-Sapeon merger aims to challenge Nvidia.
Crypto
1. Bitcoin miner Riot Platforms attacks takeover target Bitfarms over poison pill
Riot Platforms Inc. made a $950 million unsolicited offer to acquire Bitfarms Ltd. for $2.30 per share, in cash and stock, representing a 20% premium over Bitfarms’ pre-offer trading price. (Bloomberg)
2. SEC reaches $4.47B settlement with now-bankrupt crypto firm Terraform Labs
Terraform Labs reached a $4.47 billion civil settlement with the SEC after defrauding cryptocurrency investors. The settlement includes $4.05 billion of disgorgement and a $420 million fine. (Yahoo!Tech)
Fintech
3. Apple’s new tap to cash feature lets people pay by touching iPhones
During its WWDC 2024 keynote, Apple unveiled Tap to Cash, a feature enabling secure Apple Cash transfers by holding two iPhones together. Apple Pay also received updates, including reward redemption and instalment loan access. (The Fintech Times)
Internet governance
4. Call for nominations: IETF Liaison to ICANN Board of Directors
The IAB seeks nominations for the IETF liaison to the ICANN Board of Directors, closing on July 9, 2024. The two-year term starts in November 2024. Harald Alvestrand, serving since 2018, is willing to continue. (IAB)
IT infrastructure
5. Oracle gains as cloud infrastructure business gets AI boost
Oracle shares surged 9% on Wednesday, driven by strong demand for its cloud infrastructure services for AI applications. The company collaborates with OpenAI and Google Cloud to enhance its cloud infrastructure. (Reuters)
6. US agency seeks answers from Waymo in self-driving vehicle probe
The NHTSA is seeking more details about incidents involving Waymo self-driving vehicles, after 22 reports of potentially unsafe behavior, including 17 collisions. Waymo must respond by August 6. NHTSA is concerned these behaviors may increase crash risks. (Aol.)
Tech trends
7. US health dept says UnitedHealth can notify patients of data breach
U.S. healthcare providers can now ask UnitedHealth Group to notify individuals affected by the February hack on its Change Healthcare unit. The HHS clarified that affected entities should contact Change Healthcare for breach notifications. (U.S.News)
8. Audi to invest $1B in electric vehicles projects in Mexico
Audi will invest $1.08 billion in electric vehicle projects in Puebla, Mexico, creating 500 new jobs. The investment aims to make Puebla a hub for electric vehicles. (SRN News)
Products
9. Google borrows from Android to make ChromeOS better
Google’s ChromeOS team is integrating parts of Android’s tech stack to innovate faster and improve device interoperability. Users won’t see immediate changes, but can expect improved pairing and reconnection experiences. (The Register)
10. Google rolls out Gemini Nano to the Pixel 8a and a lifesaving feature to the Pixel Watch 2
Google’s June Feature Drop brings long-awaited AI tech and life-saving features to Pixel devices. Gemini Nano debuts on Pixel 8 and 8a, enhancing on-device tools like Summarise in Recorder with more detailed transcripts. (Tech Radar)
AI
11. Samsung offers plan to speed up delivery of AI chips
Samsung Electronics announced its contract manufacturing business will offer a one-stop shop to expedite AI chip production. By streamlining communication among its memory chip, foundry, and packaging teams, production time is cut by 20%. (The Straits Times)
12. South Korean AI chip developers Rebellions and Sapeon to merge
South Korea’s fabless AI chip startups, Rebellions and Sapeon, announced a merger to lead the local market and challenge global rivals like Nvidia. The combined entity aims to go public within three years, leveraging growing demand for neural processing units. (Tech Crunch)
13. Japan’s Advantest says AI demand boosting memory tester business
Advantest noted a surge in demand for high bandwidth memory (HBM), attributing it to the growth of AI tasks. The company anticipates a 47% sales increase in the memory segment, driven by AI’s complexity and edge AI adoption. (Reuters)
14. Linq raises $6.6M to use AI to make research easier for financial analysts
Linq raises $6.6M to use AI to make research easier for financial analystsLinq, a startup founded by MIT alumni Jacob Chanyeol Choi and Subeen Pang, has secured $6.6 million in funding for its AI agent designed for financial analysis and research. (Tech Crunch)
Social
15. Fired SpaceX workers sue Elon Musk for sexual harassment and retaliation
Eight former SpaceX engineers are suing Elon Musk, alleging sexual harassment and retaliation. The complaint accuses Musk of creating a hostile work environment with sexually explicit jokes and demeaning behavior, fostering a sexist culture. (The Verge)
