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Top stories today: - Starlink steps back, complies with order blocking access to X in Brazil
- Sam Altman meeting global investors to invest $10B's in U.S. infrastructure
- NVIDIA subpoenaed by DOJ in antitrust probe, stock -10%
- Trump's crypto project seems strikingly similar to hacked app
- BTC ATM scams increase 10x in 4 years, reaching $114M in 2023
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0. Data and calendar |
 | All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). |
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 | All times are ET. |
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1. Starlink steps back, complies with order blocking access to X in Brazil |
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Starlink backtracked 1 day after saying it would not comply with the order. Saturday: Judge Moraes ordered X's blocking amid dispute with Elon. Starlink's assets are also frozen in Brazil over Moraes's order. 200K+ Starlink users reside in Brazil.
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2. Sam Altman meeting global investors to invest $10B's in U.S. infrastructure |
AI infrastructure meetings are ongoing as OpenAI plans a $100B+ valuation round: |
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Canada, Korea, Japan, and the UAE: among the countries investors are coming from. Building data centers, increasing energy capacity, and expanding semiconductor manufacturing are among the projects discussed.
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4. NVIDIA subpoenaed by DOJ in antitrust probe, stock -10% |
$2.65T market cap after the -9.53% decline to $108.00: |
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NVIDIA allegedly limits supplier options, antitrust officials raise concerns. Legally binding requests being sent, which usually precedes a formal complaint. DOJ's San Francisco office is leading the inquiry. RunAI acquisition is under scrutiny. "NVIDIA wins on merit," the company stated.
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5. Trump's crypto project seems strikingly similar to hacked app Dough Finance |
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World Liberty Financial's now-deleted code showed similarities to Dough Finance. 4 people linked to Dough Finance are working on Trump's WLF. WLFI cryptocurrency will be part of the new project. "Credit account system" will also be included, according to the white paper.
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6. BTC ATM scams increase 10x in 4 years, reaching $114M in 2023 |
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$65M lost in the 1H of 2024 alone: FTC. Government impersonation topped BTC ATM scam incidents. 60+ age customers 3x over younger adults as BTC ATM scam victims. Scammers push deposit cash into BTC ATMs to "protect" savings.
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7. Intel unveils Core Ultra 200V chips for AI laptops to take on Qualcomm's Snapdragon X Elite |
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9 SKUs and 2 versions: Core Ultra 7 and Core Ultra 9. Sep 24: when laptops with the new Intel chips hit global markets. Up to 40% less power consumption and 120 total platform TOPS. Limited, up to 32GB RAM support and eight CPU and GPU cores.
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Last-gen Intel chips can surpass performance when given more power |
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8. GP deals in U.S. +84% YTD, on track to cross record 144 deals closed in 2021 |
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89 deals closed in 2024 as of Aug 1, worth $21.3B. $28B deal value expected by year-end, 2x last year's $15B. $12.5B BlackRock-GIP deal propelled this year's growth.
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9. Foreign PE investments in Europe +31% this year vs. 2023 |
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47% of capital from non-EU investors in Europe this year, compared with 36% in 2023. $154.6B infused by foreign PE investors in Europe this year. 860 deals by foreign PE investors closed in 2024. Q2 was the strongest in 2 years, totalling $89.1B across 328 deals.
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IT attracted the most interest from foreign investors in Europe, followed by B2B and B2C |
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10. Interesting videos, posts, and memes |
 | Donald Trump Interview | Lex Fridman Podcast #442 |
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 | "Doesn't Code Need A Coder?" Piers Morgan vs Richard Dawkins On God, The Universe and More |
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12. Other headlines |
AI |
MiniMax video-01 model launched as another Chinese answer to Sora. Clearview AI fined $33M by Dutch regulator after UK, France, Australia, Italy. NVIDIA backs Japan's 1-yr-old AI startup in $100M+ funding. Volkswagen launches ChatGPT-backed Plus Speech voice assistant.
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Tech |
NVIDIA sees record $279B loss in market value as Wall St falls. China spends $25B on chip tools in H1, topping S. Korea, Taiwan, U.S. Snap to test new ad formats as business struggles. Bluesky says added 2M more users in a week following Brazil's X ban. White House plans to fix weak security of Border Gateway Protocol. Blackstone to acquire Australia's AirTrunk for ~$16.1B.
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Tech & law |
DOJ plans not to pressure social networks over content about foreign threats. Airbnb urges NYC to reconsider short-term rental regulations. S. Korea: Telegram removed 25 pieces of sexual exploitation material.
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Biotech |
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Business |
Berkshire's BofA stake cuts top $6B following strong run in stock. Treasury report: small business applications surge, sentiment improves. Cliff Asness: less-efficient market hypothesis.
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Crypto |
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U.S. politics |
Harris to propose $50K tax deduction for new small businesses. Trump to plead not guilty to criminal charges in revised US indictment. RFK Jr. must remain on Michigan presidential ballot, judge says. 7 Republican states sue over new Biden student debt relief plan. House GOP seeks to add proof-of-citizenship to anti-shutdown measure.
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World |
Ukraine's foreign minister resigns in government reshuffle. U.S. files criminal charges against Hamas leadership, including group's chief. Russia secretly acquiring sensitive goods in India amid U.S. sanctions.
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Reviewed by Diogenes
on
September 04, 2024
Rating:
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