Fintech
1. Robinhood in $3.9 mln settlement with California over crypto withdrawals
A cryptocurrency platform run by Robinhood Markets will pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts from 2018 to 2022, California Attorney General Rob Bonta said on Wednesday. (Reuters)
IT infrastructure
2. Nvidia did not receive a US Justice Department subpoena, spokesperson says
Nvidia did not receive a U.S. Justice Department subpoena, a spokesperson said in a statement on Wednesday. (Yahoo Finance)
Tech trends
3. X wins block on part of California’s content moderation law
An appeals court ruled that requiring social platforms to report efforts to combat misinformation and hate speech likely violates the First Amendment. (Verge)
4. Intel manufacturing business will see ‘meaningful’ revenue in 2027, CFO says
Intel will begin to generate a “meaningful” amount of revenue from its contract chip manufacturing business in 2027, the company’s CFO said at an investor conference on Wednesday. (WMBD Radio)
5. EU regulators to seek feedback on Google’s compliance proposals to avert charges
European Union antitrust regulators will seek feedback next week on Google’s proposals to comply with tech rules aimed at promoting fair competition, people with direct knowledge of the matter said on Wednesday, which could decide whether it faces formal charges. (US news)
6. Nvidia’s stock swoon turns attention to Big Tech’s sway over markets
Shares of Nvidia and other Big Tech stocks have helped power the markets run to record highs this year. Their recent wobble is making investors nervous. (US news)
7. Meta oversight board asks firm not to automatically remove pro-Palestinian phrase
Meta Platforms’ Oversight Board said, on Wednesday, the Facebook parent should not automatically remove a phrase seen by some as displaying solidarity with Palestinians and by others as an endorsement of violence against Jews. (Middle east Monitor)
8. ASML CEO says US desire to restrict exports to China ‘economically motivated’
The chief executive of Dutch computer chip equipment supplier ASML said on Wednesday a U.S.-led campaign to restrict the company’s exports to customers in China in the name of national security has become more “economically motivated” over time. (US news)
9. Exclusive: Intel manufacturing business suffers setback as Broadcom tests disappoint
Intel’s contract manufacturing business has suffered a setback after tests with chipmaker Broadcom failed, three sources familiar with the matter told Reuters, dealing a blow to the company’s turnaround efforts. (US news)
10. Semiconductor body calls for EU ‘Chips Envoy’, more support
The European Union has been urged to update its Chips Act with a revised 2.0 version in a bid to boost the continent’s semiconductor industry. (Tech Radar)
AI
11. Exclusive: OpenAI co-founder Sutskever’s new safety-focused AI startup SSI raises $1 billion
Safe Superintelligence (SSI), newly co-founded by OpenAI’s former chief scientist Ilya Sutskever, has raised $1 billion in cash to help develop safe artificial intelligence systems that far surpass human capabilities, company executives told Reuters. (Reuters)
12. UK clears Microsoft’s partnership with Inflection AI
The U.K.’s Competition and Markets Authority said Wednesday it determined Microsoft’s partnership with Inflection AI does not threaten competition. (Investopedia)
13. Hewlett Packard Enterprise raises annual profit forecast on AI strength
HEWLETT Packard Enterprise (HPE) raised its annual profit forecast on Wednesday (Sep 4), as demand for artificial intelligence (AI) servers continues to pick up owing to higher investments in AI infrastructure by businesses. (Business Times)
