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U.S. Treasury says China accessed government documents in “major” cyberattack

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Top stories today:

  1. U.S. Treasury says China accessed govt. docs in “major” cyberattack
  2. NVIDIA to open-source Run:ai to expand AI hardware optimization
  3. BlackRock’s Bitcoin fund sees best ETF debut, crossing $50B
  4. China on track to meet 2024 GDP target of ~5% with policy stimulus
  5. Stockpicking mutual funds see record $450B of outflows in 2024
  6. VC deal value in defense 18x’s over past decade

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.

Listen to our AI-generated podcast summarizing today’s newsletter (beware of the few hallucinations):

1. U.S. Treasury says China accessed government documents in “major” cyberattack

  • Mon.: Senior House lawmakers were informed about the “major cybersecurity incident” by The Treasury.

  • Dec. 8: Security company BeyondTrust notified The Treasury about the incident.

  • The hackers gained remote access to employee workstations and documents, per the Treasury.

  • “No evidence indicating the threat actor has continued access to Treasury information,” the Treasury said.

  • The Chinese government has denied the U.S. attribution.

2. NVIDIA to open-source Run:ai to expand AI hardware optimization

  • Run:ai currently works only with NVIDIA’s hardware.

  • Open-sourcing will extend the software to NVIDIA rivals like AMD and Intel.

  • Run:ai helps manage and optimize GPUs for AI developments.

  • April: NVIDIA acquired Israel’s Run:ai for a reported $700M.

  • The deal was completed on Mon. after facing scrutiny in the U.S. and Europe.

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4. BlackRock’s Bitcoin fund sees best ETF debut, surpassing $50B in assets in 11 months

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