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Top stories today:
- Elon’s X bans certain accounts to get restored in Brazil
- Intel gets takeover bid from Qualcomm, $5B funding offer from Apollo
- Perplexity in talks with top brands on ad model to challenge Google
- Cerebras crosses 2K tokens per sec. on Llama 3.1 8B
- 26+ U.S. states trying to regulate GenAI usage in election
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).
All times are ET.
1. Elon’s X bans certain accounts to get restored in Brazil after defying orders for 3 weeks
Elon was in a dispute with Brazil’s Justice Alexandre de Moraes over free speech:
He has not commented on this reversal.
X has also agreed to pay fines, per its lawyers.
Brazil’s top court has given X 5 days to produce certain documents.
300+ social media accounts have been ordered blocked by Moraes since 2019.
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3. Intel reportedly gets takeover bid from Qualcomm, $5B investment offer from Apollo
Intel stock +3% on Friday, following the Qualcomm news:
Qualcomm may sell some of Intel’s assets or parts to get the deal done.
The deal would be the largest-ever transaction for the growing chip market.
Intel recently struck a $B+ deal with AWS for a custom AI chip.
The chip maker also planned to separate its foundry operations.
“Equity-like” $5B offer from Apollo Global is still in discussions.
Qualcomm stock was -3% on Friday, with investors signaling they did not like the idea of taking over Intel
4. Perplexity reportedly in talks with top brands on ad model to challenge Google
