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Top stories today:

1. OpenAI studying building their own AI chips
2. Twitter to have 3 tiers of premium, already cash flow positive
3. SEC asks judge to force Elon to testify regarding Twitter
4. Crypto Q3 VC funding lowest since Q4 2020
5. SBF allegedly knew FTX not “bulletproof” months before fall

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0. Data and calendar

1. OpenAI studying building their own AI chips

• Unclear whether the plan will move ahead, and unclear whether they will build it from scratch or buy an existing startup.

• OpenAI already testing the chip Microsoft is building.

• Google and Amazon are also building their own AI chips, and Meta scrapped its attempt.

• All of them currently lag NVIDIA in terms of speed. - Reuters

2. SBF knew FTX was not “bulletproof” months before collapse: employee

Nothing that affected the expected 91% probability of SBF being convicted, according to prediction markets:

• SBF knew in June-July 2022 that FTX was in trouble, his former college and Bahamas roommate Adam Yedidia testified. Yedidia got that information from a call, he said.

  • “We were bulletproof last year, but we’re not bulletproof anymore,” SBF allegedly told Yedidia.

• Co-founder Gary Wang confessed to coding the loophole that allowed Alameda to withdraw up to $65B in customer's money.

  • At SBF's direction, Wang said. - The Verge

• 2 luxury airplanes allegedly owned by FTX are also a target of forfeiture by the DOJ. The planes are new and have never been used by SBF. - Decrypt

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4. Twitter to have 3 tiers of premium, already cash flow positive on operating basis