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How Erebor Bank’s Sweet Stablecoin Deal Backfired

When Palmer Luckey’s Erebor Bank launched earlier this year, it made an attractive pitch to lure new crypto customers: It would convert their stablecoins to cash for free. But Erebor wound up pulling the offer after several months, after sophisticated crypto trading firms sniffed out a way to make an easy profit out of the offer—at a cost to Erebor. The episode demonstrates that the young bank is still figuring out how to manage the risks of serving the cryptocurrency industry, a world...

Salesforce Unveils New AI Model, Agent Security Tools at Dreamforce 

At its annual Dreamforce customer conference in San Francisco, Salesforce shows that it's on board with open-source AI and data security for agents.

Meta Rolls Out New ‘Meta One’ Subscription Plans With Higher AI Usage Limits

Meta is betting users will pay for more access to its AI tools, with its most expensive plan priced at $499 a month.

Elon Musk hints at possible Tesla-SpaceX merger

When asked why Tesla and SpaceX were separate companies, Musk said that is “a great question.”

DoorDash Invests in Marc Lore’s Wonder

The deal raises the possibility that DoorDash could take over Wonder deliveries in the future.

Chinese AI Chip Firm Biren Plans $1 Billion Fundraising

Biren is weighing another share sale as China doubles down on efforts to produce homegrown chips.

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Trump Skewers AI Leaders’ Calls for Slowdown

The U.S. president fired off a series of statements criticizing calls from Anthropic and others to slow model development.

OpenAI Said to Buy Startup Glass Imaging for $300 Million

The startup makes high quality camera for smartphones.

Microsoft Joins Calls for AI “Pacing,” Pledges to Build Kill Switches Into AI Products

Microsoft is also open to letting third party observers audit its internal AI development.

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China Rebuffs U.S. “Fearmongering” in Light of AI Pacing Calls

Beijing’s criticism underscores its concern that Washington could increasingly leverage AI safety to impose further restrictions on China.

Z.ai Plans $5 Billion Fundraising as Compute Cost Grows

The new fundraising comes just two months after the Chinese AI firm raised $4 billion in a share placement.

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Tesla Teases October Next-Gen Roadster Reveal

The Information previously reported that early plans for the demonstration included showing the Roadster hovering in the air.

Larry Ellison Cancels Plan to Sell Up to $7.5 Billion of Oracle Stock

Oracle’s shares have come under pressure amid the company’s AI buildout.

Altman and Musk Back Amodei’s Call for AI Companies to Slow Down AI Development

The commitment was part of a three-part plan Amodei put forward for leading AI companies to "pace the frontier"—or slow down the development of bleeding edge AI— just days after his own employees spoke about the growing dangers of AI development.
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