🎰 FedEx founder saved the company with a $5K blackjack bet

Fred Smith, founder of FedEx, once used the company’s last $5,000 to gamble in Las Vegas. He turned it into $27,000 and covered a $24,000 fuel bill that week.

FedEx had launched in 1973 and was already losing over $1M per month after the oil crisis doubled fuel costs. Investors refused to fund the business, leaving the company without cash to operate.

The extra week bought time to raise $11M in new funding. By 1976, revenue reached $75M, and the company went public two years later.

Today FedEx delivers 17M packages daily across 220 countries.

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⚖️ Musk found liable for misleading investors during Twitter deal

A jury ruled that Elon Musk misled investors with tweets in 2022 claiming Twitter had too many fake accounts. The statements were seen as an attempt to push the price down during the acquisition process.

Regulators calculated how the tweets affected the stock price over roughly five months. Compensation will be set later after investor claims.

The potential damages are estimated in the hundreds of millions or billions of dollars.

The case ties social media statements directly to market impact.

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🐮 Peter Thiel’s Founders Fund backs AI cow collar startup Halter at $2B valuation

Halter is raising a new round led by Founders Fund that would value the company at over $2B. The previous round in June brought in $100M at about a $1B valuation.

The startup builds AI-powered collars for cows that create virtual fences and track location and health. Farmers can manage herds remotely through an app using sound and vibration cues.

The deal is heavily oversubscribed despite weak sentiment in agtech. Halter is expanding into the US with a new office in Colorado.

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📱 Zuckerberg builds AI agent to support his CEO workflow

Mark Zuckerberg is developing an AI agent to help with CEO tasks. The system is designed to gather information, analyze data, and prepare inputs for decisions.

The final decision still stays with Zuckerberg. The agent replaces the need to move through layers of managers to collect and structure data.

The shift points to flatter company structures, with AI handling internal workflows instead of middle management.

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📱 OnlyFans owner Leonid Radvinsky dies at 43

Leonid Radvinsky, the majority owner of OnlyFans, has died of cancer at age 43. He bought the platform in 2018 and turned it into a major direct-to-consumer content business.

OnlyFans lets creators charge users directly and takes a 20% fee. In 2024, it reported 4.6M creators, 377M users, and $1.4B in revenue. Radvinsky received about $1.8B in dividends since 2021.

He had been in talks to sell a 60% stake at a ~$5.5B valuation. Ownership questions now follow after his death.

The platform remains one of the largest monetization systems for online creators.

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👽 Musk to build chip factory Terafab in Austin with Tesla and SpaceX

Elon Musk said Tesla and SpaceX will launch Terafab in Austin to manufacture their own chips. The project is aimed at covering internal demand for AI, robotics, and vehicles.

The facility will produce chips for edge use in cars and robots, as well as high-power chips for data centers and space systems.

Musk says current chip supply cannot keep up with future needs, so the companies plan to build their own production.

Big tech is moving further into in-house chip manufacturing.

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🤖 OpenAI offers 17.5% returns to secure PE backing for AI ventures

OpenAI is offering private equity firms a minimum return of 17.5% to invest in joint ventures focused on enterprise AI adoption. The company is targeting firms like TPG and Advent.

The structure lets PE firms deploy OpenAI tools across their portfolio companies, while getting early access to new models and downside protection.

The push comes as OpenAI competes with Anthropic for the same partners. Both are using joint ventures to expand into enterprise markets.

Some funds are opting out, citing concerns over long-term returns and flexibility.

AI labs are using capital incentives to lock in distribution at scale.

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⚡️ OpenAI moves to buy fusion energy from Altman-backed Helion

OpenAI is in advanced talks to purchase electricity from Helion Energy, a fusion startup backed by Sam Altman.

The deal could secure 12.5% of output, with about 5 GW by 2030 and up to 50 GW by 2035.

Helion is developing fusion power, aiming to generate energy using the same process as the sun. The company is targeting “scientific breakeven,” where output exceeds input, a milestone not yet reached by any private firm.

Altman has stepped down from Helion’s board and is not involved in the negotiations, though he remains an investor.

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🎵 Man pleads guilty after making $10M from AI music fraud

Michael Smith, 52, admitted to using AI-generated music and bots to manipulate streaming payouts.

He earned about $10M between 2017 and 2024 and agreed to repay over $8M.

He faces up to 5 years in prison.

He generated hundreds of tracks with obscure names, uploaded them under fake artists, and used bots to create billions of plays. The streams were distributed evenly to avoid detection.

The scheme relied on automated listening to trigger royalty payments. Streaming platforms later flagged the activity and stopped payouts.

The case highlights how AI content combined with bot traffic can exploit payout systems at scale.

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⚠️ OpenAI flags Microsoft as key risk in pre-IPO document

A leaked draft of OpenAI’s pre-IPO materials describes Microsoft as a potential risk. It states that changes or termination of the partnership could negatively affect the business and financial results.

The shift comes as OpenAI signs a multi-year deal with Amazon, making AWS an exclusive third-party cloud distributor.

Microsoft is reportedly unhappy and sees the move as a possible breach of its Azure agreement. Legal action is being considered.

The partnership is moving from alignment toward tension.

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🤖 OpenAI shuts down Sora as Disney drops $1B investment plan

OpenAI will discontinue its Sora video app. Following the decision, Disney ended its partnership and scrapped plans for a $1B investment.

The deal included using Sora to generate videos with licensed characters from Disney, Marvel, Pixar, and Star Wars. Those plans are now canceled.

Sora had launched in 2025 as a standalone text-to-video app, but faced industry pushback around copyright and content use.

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🚀 SpaceX prepares IPO filing with potential $75B raise

SpaceX is aiming to file its IPO prospectus as soon as this week or next. The company could raise more than $75B, making it one of the largest IPOs in history.

Investor allocation may exceed 20%, though the final structure is not set. The move follows a deal valuing SpaceX at around $1T after acquiring xAI.

The IPO comes amid strong interest in space infrastructure, including satellite networks and orbital data centers.

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