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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 $10Bās in U.S. infrastructure
- NVIDIA subpoenaed by DOJ in antitrust probe, stock -10%
- Trumpās crypto project seems strikingly similar to hacked app
- BTC ATM scams increase 10x in 4 years, reaching $114M in 2023
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. Starlink steps back, complies with order blocking access to X in Brazil
Starlink backtracked 1 day after saying it would not comply with the order.
Saturday: Judge Moraes ordered Xās blocking amid dispute with Elon.
Starlinkās assets are also frozen in Brazil over Moraesās order.
200K+ Starlink users reside in Brazil.
2. Sam Altman meeting global investors to invest $10Bās in U.S. infrastructure
AI infrastructure meetings are ongoing as OpenAI plans a $100B+ valuation round:
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:
NVIDIA allegedly limits supplier options, antitrust officials raise concerns.
Legally binding requests being sent, which usually precedes a formal complaint.
DOJās San Francisco office is leading the inquiry.
RunAI acquisition is under scrutiny.
āNVIDIA wins on merit,ā the company stated.
5. Trumpās crypto project seems strikingly similar to hacked app Dough Finance
World Liberty Financialās now-deleted code showed similarities to Dough Finance.
4 people linked to Dough Finance are working on Trumpās WLF.
WLFI cryptocurrency will be part of the new project.
āCredit account systemā will also be included, according to the white paper.
6. BTC ATM scams increase 10x in 4 years, reaching $114M in 2023
$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 āprotectā savings.
7. Intel unveils Core Ultra 200V chips for AI laptops to take on Qualcommās Snapdragon X Elite
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.
Last-gen Intel chips can surpass performance when given more power
8. GP deals in U.S. +84% YTD, on track to cross record 144 deals closed in 2021
89 deals closed in 2024 as of Aug 1, worth $21.3B.
$28B deal value expected by year-end, 2x last yearās $15B.
$12.5B BlackRock-GIP deal propelled this yearās growth.
9. Foreign PE investments in Europe +31% this year vs. 2023
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.
IT attracted the most interest from foreign investors in Europe, followed by B2B and B2C
10. Interesting videos, posts, and memes
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 Japanās 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 Brazilās X ban.
White House plans to fix weak security of Border Gateway Protocol.
Blackstone to acquire Australiaās AirTrunk for ~$16.1B.
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Tech & law
Biotech
BioAge files for <=$100M IPO.
U.S. drug prices still 2x those in other high-income nations after negotiations.
Combination therapies to treat aging: thoughts.
Aspen bets on GLP-1 drugs to boost future profits.
Business
Berkshireās BofA stake cuts top $6B following strong run in stock.
Treasury report: small business applications surge, sentiment improves.
Cliff Asness: less-efficient market hypothesis.
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.
World
Ukraineās foreign minister resigns in government reshuffle.
U.S. files criminal charges against Hamas leadership, including groupās chief.
Russia secretly acquiring sensitive goods in India amid U.S. sanctions.
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