Top stories today:

1. Starlink steps back, complies with order blocking access to X in Brazil
2. Sam Altman meeting global investors to invest $10B’s in U.S. infrastructure
3. NVIDIA subpoenaed by DOJ in antitrust probe, stock -10%
4. Trump’s crypto project seems strikingly similar to hacked app
5. BTC ATM scams increase 10x in 4 years, reaching $114M in 2023

0. Data and calendar

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 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.

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:

• 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.

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.

• DOJ’s San Francisco office is leading the inquiry.

• RunAI acquisition is under scrutiny.

• “NVIDIA wins on merit,” the company stated.

5. Trump’s crypto project seems strikingly similar to hacked app Dough Finance

• 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.

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 “protect” savings.

7. Intel unveils Core Ultra 200V chips for AI laptops to take on Qualcomm’s 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 year’s $15B.

• $12.5B BlackRock-GIP deal propelled this year’s 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 Japan’s 1-yr-old AI startup in $100M+ funding.

• Volkswagen launches ChatGPT-backed Plus Speech voice assistant.

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.

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.

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

• 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.

Crypto

• Polygon to begin long-awaited swap from MATIC to POL token.

• Trump relatives’ accounts hacked on X with fake crypto announcement.

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

• 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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