Qualcomm’s AI bid

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter.

Top Stories

US probes use of Chinese AI models: Airbnb and the parent of coding company Cursor are being investigated by committees of the US House of Representatives for their use of artificial intelligence models build by Chinese companies. The lawmakers are concerned about the national security implications.

Startup scandal: The founder of eFishery, one of Indonesia’s hottest startups before it collapsed in scandal, was sentenced to nine years in prison after he falsified financial records to prop up the company. See the reaction.

Uber’s all-everything effort: The ride-hailing company is adding hotel bookings on its main app as it seeks to provide customers with all aspects of the travel needs in a single place. Here’s how it works.

Must Read

Technology

Junior Bankers Sick of Grunt Work Build $2 Billion AI Tool to Do the Job

Rogo, started by young bankers around a kitchen table in 2021, just won a multibillion-dollar valuation

Technology

Meta Shares Plunge on Rising Concerns Over AI Spending Spree

Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg reignited fears that the historic levels of investment he’s making to catch up in the artificial intelligence race won’t pay off, a prospect that sent shares sliding after the company raised its spending outlook for the year.

Technology

Musk Recounts Losing Trust in Motives of OpenAI’s Other Leaders

Elon Musk spent hours Wednesday telling a jury about his falling out with the other leaders of OpenAI over what he described as their desire to “get rich” off a project that was supposed to serve the public good.

Beyond The Brief

Qualcomm, the leading maker of chips for smartphones, has decided the AI data center market is too lucrative to pass up, Ian King reports in today’s Tech In Depth. The company said it now has a major customer for its AI data center chip and sees it as a new revenue source despite the intense competition, King writes.

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This Week In Cyber Bulletin

A global task force led by the US Department of Homeland Security with specialists from 29 countries using artificial intelligence tools generated 500 new investigative leads on child abuse cases and identified more than 100 victims during a two-week operation last month, Margi Murphy reports in this week’s Cyber Bulletin.

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Before You Go...

Markets

Bill Ackman’s Closed-End Fund Sinks 18% After $5 Billion IPO

Shares of Bill Ackman’s Pershing Square USA Ltd. plunged 18% in its debut after the combined initial public offering for the closed-end fund and his alternative asset manager raised $5 billion.

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