👽 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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💍 Oura explores IPO after $11B valuation and rapid growth

Oura has started interviewing banks for a potential IPO that could happen this year. The company raised over $900M last fall at a valuation of about $11B and has taken in more than $2B total funding.

Oura sells a smart ring with a subscription app that tracks sleep, fitness, and health signals. The company is also acquiring Doublepoint to add gesture and voice controls to future devices.

Health ring shipments are expected to grow 49%, outpacing smartwatches.

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💰 OpenAI extends funding round to $120B with new $10B raise

OpenAI is raising an additional $10B, bringing its total funding round to over $120B. The company was previously targeting $100B and was valued at $730B pre-money.

The new tranche includes investors like Andreessen Horowitz, TPG, and T. Rowe Price, with Microsoft also participating. Amazon had earlier committed $50B, while Nvidia and SoftBank each put in $30B.

OpenAI reported about $13.1B in revenue last year and around 900M weekly active users. Enterprise revenue is growing faster and is expected to reach about half of total revenue.

The company is preparing for a potential IPO and adjusting priorities around compute and profitability.

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🍏🔍 Apple gets Gemini access to build its own AI models

Apple gained deep access to Google’s Gemini, including running it inside its own data centers, according to The Information. The deal goes beyond usage and includes the ability to distill smaller models from Gemini.

Through distillation, large models transfer knowledge into compact versions that run faster and require less compute. Apple also has access to Gemini’s internal reasoning steps, which lets smaller models learn how outputs are produced, not just copy results.

This opens a path to on-device AI that approaches large model quality while running directly on iPhone.

Apple is still developing its own models in parallel, while a new Siri with memory and proactive features is expected at WWDC in June.

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✈️ Ferrari ships supercars by air as Gulf routes face disruption

Ferrari has started delivering some cars by air to Middle East clients after suspending most sea shipments due to restrictions in the Strait of Hormuz. Air freight now costs 4–5x more than sea transport.

The company builds highly customized supercars, with personalization making up about 20% of its automotive revenue. Wealthy clients in the Gulf are key buyers of these bespoke models.

Air delivery was already used by top clients to get cars faster, and demand continues despite higher costs.

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😱 Ark Invest just dropped some wild numbers

In 2025, AI-generated words officially outnumbered words written by humans — for the first time in history. At this pace, AI will surpass the entire 500-year archive of human-written text before 2030.

And it's already reshaping Telegram. Channels are quietly replacing human editors with automated tools — and one of the most interesting examples is @morty, built by the @maxim team. It finds relevant content on its own, writes it in the channel's voice, and leaves just one thing for the human: hit "Approve".

More media projects are going AI-first. And according to Ark Invest, this is only the beginning.

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🤖 Anthropic tests Mythos model, wins court case, moves toward IPO

Leaked documents show Anthropic is developing a new model called Mythos or Capybara. It is expected to be larger, more capable, and more expensive than Opus 4.6.

The company sees a strong jump in coding ability but is concerned about potential use in cyberattacks. Release timing will depend on coordination with security experts.

A court has overturned a Trump-era decision that labeled Anthropic a national security risk, removing pressure on government agencies to cut contracts.

At the same time, Bloomberg reports the company is in talks with Wall Street banks about an IPO planned for October.

Model capability, regulation, and capital markets are converging around the same company.

✔️@venture