| |  | Nov 03, 2025 | | | | | | Welcome back! The White House says China has agreed to drop its antitrust probes into U.S. chip companies. Elon Musk says Tesla might unveil a flying car this year. Google removes its open-source AI model from its AI Studio developer tool following defamation accusations.
| | | | China has agreed to drop antitrust and other investigations into U.S. chip companies, the White House said on Saturday, as part of a broader trade agreement the two countries reached last week. In recent months, China has opened antitrust investigations into both Qualcomm and Nvidia, among other companies, in what were seen as a move by China to increase pressure on the U.S. over trade. The concession was one of a number the White House said China would make, including relaxed controls on the exports of rare earths. In exchange, the U.S. will lower tariffs imposed on China and will also hold off on expanding the list of companies on the Entity List, barred from buying U.S. technology. Notably, the White House statement said nothing about the status of the TikTok deal, which remains uncertain weeks after the White House said a deal had been reached. | | | | OpenAI's revenue could reach $100 billion in 2027, Sam Altman said on a podcast published Friday with Altimeter Capital and OpenAI investor Brad Gerstner. Altman said the ChatGPT maker was already "doing well more revenue," than $13 billion, an apparent reference to its annualized pace, which had reached $12 billion in July. OpenAI has projected generating $13 billion in total revenue this year. It also previously forecast generating $100 billion in total revenue in 2028. Altman's comments on the podcast suggest the company could reach those milestones more quickly than it previously anticipated. The OpenAI CEO said the company didn't have a time frame for an initial public offering, and he dismissed critics who doubted the company would be able to pay for the $1.4 trillion OpenAI has committed to spend on computing capacity. He also envisioned a time when "we will make an incredible consumer device that can run a GPT-5 or GPT-6 capable model completely locally." | | | | Tesla might unveil a flying car before the end of this year, CEO Elon Musk hinted on a podcast episode released Friday, without giving details. Asked by Joe Rogan for updates on the years-delayed new version of Tesla's Roadster sports car, Musk said Tesla was close to demonstrating a prototype. Asked for more details, Musk said: "Well you know my friend Peter Thiel once reflected that the future was supposed to have flying cars but we don't have flying cars." Pressed by Rogan for more details, Musk added, "I think if Peter wants a flying car we should be able to buy one." Musk dodged further questions from Rogan but said the prototype had "some crazy technology" and its unveiling would be "unforgettable." He also described the car by saying, "If you took all the James Bond cars and combined them, it's crazier than that." Musk said the new Roadster would be a different design than previous prototypes of the vehicle that Tesla has shared publicly. Musk has previously teased a flying Roadster, including in a July 2024 appearance at a Tesla fan event and in Tesla's October 2024 earnings call. Tesla manufactured the original Roadster from 2008 to 2012 before focusing on other models. A new version of the car was due to start production in 2020 but has been repeatedly delayed. | | | | Google removed its open-source AI model Gemma from its AI Studio developer tool after Senator Marsha Blackburn sent a letter accusing Gemma of fabricating rape allegations against her. Last month, the conservative activist Robby Starbuck also sued Google under similar grounds. Gemma is still available through an application programming interface. "We've now seen reports of non-developers trying to use Gemma in AI Studio and ask it factual questions. We never intended this to be a consumer tool or model, or to be used this way," Google wrote in a statement on X on Friday. Conservatives have raised concerns about how they are being portrayed by AI models. In a Senate hearing last month, Google's Vice President for Government Affairs and Public Policy, Markham Erickson had said, "LLMs will hallucinate," according to Blackburn's letter, which Blackburn called "unacceptable." | | | | Netflix is exploring a bid for Warner Bros. Discovery's studio and streaming business, Reuters reported on Thursday, and has hired Moelis & Co. as an advisor. WBD last week said it had initiated a strategic review, weighing whether to sell, either in part or whole. The entertainment company, which owns the HBO Max streaming service as well as Warner Bros. film studio and several cable channels including CNN, had already planned to split off its streaming operations and studio from the cable channels. Netflix executives in recent weeks have played down their potential interest in buying WBD. Co-CEO Ted Sarandos said on the company's earnings call earlier this month that "we have no interest in owning legacy media networks." That would suggest Netflix wouldn't bid for all of WBD but left open the possibility of a bid for the studio and the streaming service. Netflix shares rose 2.7% to $1,118.86 on Friday. The company announced a 10-for-1 stock split on Thursday. | | | | Elon Musk's SpaceX will receive $2 billion to build satellites for the U.S. government as part of President Donald Trump's "Golden Dome" defense project, the Wall Street Journal reported on Friday. The satellites being developed by SpaceX will be used to track missiles and aircraft, according to the Journal. Funding for the project was included in a bill that Trump signed over the summer, but SpaceX's role was not disclosed. Trump has said the Golden Dome project will cost a total of $175 billion and wants the system to be capable of intercepting missiles fired at the U.S. from anywhere in the world. SpaceX is also involved in two other large Defense Department satellite projects for communications and tracking ground vehicles, the Journal reported. The report comes as SpaceX is trying to hold onto a separate contract with NASA to send astronauts to the Moon after the space agency's head said the company is behind schedule. | | | | Tether, the largest stablecoin issuer, said its profit has surpassed $10 billion in the first nine months of this year, making it one of the most profitable crypto companies in the world. It has also launched a share buyback. Tether, a private company based in El Salvador, is owned by a small group of investors. It didn't specify the size of the share buyback program, but it cited "prospective participation by institutional investors interested in a private placement." Last month, Tether CEO Paolo Ardoino said the company is raising funds to expand its business lines into commodity trading, AI, and media. Bloomberg earlier reported Tether is raising $15 billion to $20 billion through a private placement at a valuation of up to $500 billion. Tether's USDT stablecoin has $183 billion in circulation. The company generates revenue through interest income from reserve assets backing the stablecoins. It says it has $6.7 billion in excess reserves. As of September 30, its holdings included more than $135 billion of U.S. Treasuries, $9.9 billion bitcoin and a loan portfolio of $14.6 billion. | | | | | | | Opportunities Empower your teams to stay ahead of market trends with the most trusted tech journalism.
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