Trump’s 2026 Budget Suggests $6 Billion Cut to NASA Funding

Under President Trump’s proposed budget, the National Aeronautics and Space Administration aims to become the nation’s focal point for lunar and Martian exploration, sending astronauts to these celestial bodies.

The Trump administration has suggested an $18.8 billion budget for NASA, a reduction of 24% from the current fiscal year’s funding of $24.8 billion. This plan is part of Trump’s commitment to “plant the flag” on Mars, a promise made during his Congress address last March.

This budget shift aligns with the vision of Elon Musk, who founded SpaceX two decades ago with aspirations to transport settlers to Mars someday.

However, the proposal does not outline how the $1 billion allocation will be utilized or the timeline for sending astronauts to Mars. Musk has indicated that SpaceX intends to launch a new, large spacecraft toward Mars by the latter half of 2026, though it’s still under development.

Janet Petro, NASA administrator, stated, “The proposal includes investments focused on crucial scientific and technological research while advancing exploration of the Moon and Mars.”

The budget cuts will mainly affect NASA’s Robotics and Space Science Mission, including the proposed cancellation of a mission to retrieve Martian rock samples and a climate observation satellite. The Orion crew capsules are set to return astronauts to the Moon post-Artemis III, the first mission to land near the Moon’s South Pole. Additionally, the Gateway, a planned orbital space station around the Moon, will be scrapped.

Casey Drier, director of space policy at the Planetary Association, noted, “The exploration of space is a nonprofit advocating for space exploration. This budget reflects America’s standing as a leader in space, yet we are becoming more introspective.”

The budget plan also suggests an increase in operations at the International Space Station, while proposing the elimination of NASA’s educational initiatives, labeling them as “awakening.” Previous attempts by both President Trump and President Obama to terminate NASA’s educational funding were countered by Congress reinstating the funds.

In aviation, the proposed budget cuts research aimed at minimizing greenhouse gas emissions from aircraft.

The budget further suggests reducing “mission support” by over $1 billion, aiming to save costs through employee workforce cuts, maintenance reduction, construction decreases, and “environmental compliance activities.”

A report from the National Academy last September highlighted that NASA has requested a notable increase in funding for infrastructure improvements.

Source: www.nytimes.com

NASA’s Proposed 2026 Budget Cuts $6 Billion, Mainly Impacting Science Programs

On Friday, the White House unveiled a budget proposal outlining significant reforms at NASA as part of its initiative to secure $163 billion in federal funding.

The suggested reductions include a nearly 25% cut, translating to over $6 billion, from NASA’s budget. The most substantial decreases target the agency’s Space Science, Earth Science, and Mission Support divisions.

The blueprint also advocates for a space launch system rocket and Orion spacecraft aimed at returning astronauts to the moon, but proposes to terminate the program after just two more missions.

The SLS Megarocket and Orion Spacecraft were fundamental components of NASA’s Artemis Moon initiative, named after the Greek goddess associated with the moon. This mission aimed to create a base camp on the lunar surface and facilitate regular missions.

Critics have pointed out that the SLS rocket exceeds the scale and capabilities of the historic Saturn V booster used in the Apollo missions, resulting in significant delays and budget overruns.

President Donald Trump’s budget draft seeks to terminate the Artemis II test flight, expected to launch in early 2026, as well as the Artemis III mission, planned for mid-2027.

A document outlining the budget requests indicates a shift in NASA’s funding priorities aimed at “returning to the moon and placing the first human on Mars.”

The proposal envisions a hub for space stations in lunar orbit, along with the cancellation of the lunar gateway project, which was intended to play a crucial role in upcoming deep-space missions.

Other significant changes include a $2.265 billion reduction in NASA’s Space Science budget, a $1.161 billion cut in Earth Science funding, and a $5 billion decrease for the International Space Station.

Additionally, these budget cuts will shrink the size of the crew aboard the space station and limit scientific research capabilities, while preparing for its decommissioning by 2030, as part of a transition to commercial space stations, dependent on budget requirements.

In an internal email obtained by NBC News, NASA’s acting administrator, Janet Petro, stated that the proposed budget “demonstrates the administration’s backing for our mission and sets the foundation for our next significant accomplishment.”

She encouraged NASA employees to “exercise patience, resilience, and the discipline needed to achieve unprecedented feats,” acknowledging the budgetary constraints as “difficult choices” that would result in some activities being discontinued.

Among other points, Petro highlighted that under the discretionary budget, NASA would dissolve the SLS rocket and Orion spacecraft programs, as well as the gateway initiative, and halt funding for the Mars sample return project.

Petro’s communications did not specify which aerospace and defense contractors might gain or lose federal support due to these proposed changes. However, companies such as SpaceX, led by Elon Musk, Blue Origin, founded by Jeff Bezos, and the United Launch Alliance (a collaboration between Boeing and Lockheed Martin) are positioned as leading launch providers in the absence of the SLS.

Source: www.nbcnews.com

Apple Beats Wall Street Projections with $24.78 Billion Profit

Apple has built its reputation on innovation, but recently, it has leaned more towards diplomatic solutions.

Tim Cook, Apple’s CEO, recently secured a tariff exemption for exporting iPhones manufactured in China. This strategic move allowed Apple to focus on business and maintain a strong position.

It facilitated the company’s launch of new budget-friendly iPhones in February, alongside boosting app and service sales. Apple stated that quarterly profits increased by 4.8% from last year, totaling $24.78 billion. Meanwhile, company sales rose 5% to $953.6 billion.

These results surpassed Wall Street Analysts’ expectations of $24.37 billion in profits and $943.5 billion in sales. However, stocks fell by more than 2% in after-hours trading.

Apple’s consistent performance emerged amidst various challenges. Within months, the company faced both internal and external struggles, including setbacks with its highly anticipated artificial intelligence system and the tough tariff policies enforced by the Trump administration on overseas products.

Last month, Apple’s stock took a dive following President Trump’s announcement of a 145% tariff on exports from China, where 80% of iPhones are produced. This measure also affected other countries that manufacture iPads and Macs, such as Vietnam, resulting in a loss of approximately $770 billion in market value over four days.

Wall Street analysts anticipate that Apple may need to raise the iPhone price from $1,000 to $1,600. In response, some customers rushed to purchase iPhones before the potential price hike, leading to a temporary sales boost.

However, three months after donating $1 million to Trump’s inauguration, Tim Cook sought to persuade the White House to ease the tariff restrictions.

Last Thursday, Apple reported that iPhone sales, its primary revenue source, increased by 2% to $46.84 1 billion compared to the previous quarter. There was over a 10% rise in iPhone sales in Japan, India, and the Middle East, leading Apple to secure the largest share of smartphone sales globally in three months, according to Counterpoint Research.

Nevertheless, the company continues to struggle in China, posting a sales decline for the sixth consecutive quarter, with total revenue from the region at $16 billion, down 2% year-over-year.

“We are eager to see the developments at the company’s high-tech research firm,” said Ben Bajarin, principal analyst at Creative Strategies. “The question remains, what if additional tariffs are implemented?”

The company’s services division, which includes app sales, Apple Music, and Apple Pay, has outperformed device sales, generating $26.65 billion in revenue, reflecting an 11.6% increase from the previous year.

However, the future stability of Apple’s services division is in question. Recently, a federal judge criticized the company’s business practices under antitrust laws, ruling that Apple could not impose a 27% fee on selling apps outside its app store, undermining a key revenue stream.

In another antitrust matter, Apple risks losing the $2 billion in service revenue derived from Google’s payment for being the default search engine on iPhone web browsers. A federal ruling last year determined that Google maintained an illegal search monopoly, with hearings planned to address these activities.

The device division also faces uncertainties. Last year, Apple unveiled a generational AI system aimed at enhancing email, summarizing notifications, and upgrading Siri, its virtual assistant. This system was marketed as a primary reason to purchase a new iPhone. However, in March, the company announced it would be delayed until this fall.

Source: www.nytimes.com

DoorDash Proposes Acquisition of UK Rival Deliveroo for $3.6 Billion

Doordash has proposed acquiring UK rival Deliveroo for $3.6 billion (£2.7 billion), as announced by Deliveroo on Friday.

In a statement to the Guardian, Deliveroo mentioned that its board is discussing the offer with Doordash, but no formal proposal has yet been made. They noted that if shares are valued at £1.80 ($2.40), it may be a challenge to recommend such an offer to shareholders.

“We cannot confirm that Doordash’s offer to Deliveroo will materialize. At this point, shareholders are advised to refrain from taking any action concerning potential offers,” stated the company.

The proposal from Doordash is valid until May 23rd. Reuters.

Doordash is currently the leading food delivery app in the United States, boasting 42 million active users monthly in 2024 and generating $10.7 billion in revenue that same year. Founded in 2012 in San Francisco, it operates in over 25 countries.

In 2021, Doordash acquired the Finnish delivery service Wolt for 7 billion euros, equivalent to approximately $8.1 billion at the time.

Deliveroo, based in London and founded in 2013, ranks as the second largest food delivery app in the UK. In 2024, it reported an average of 7.1 million active users and earnings of £2.07 billion, as mentioned in a statement.

Both companies have expanded into grocery delivery in recent years and are exploring ways to grow their user base beyond food delivery.

In a February interview with Fortune, Doordash CEO Tony Xu described the company’s presence as feeling like a “spot of dust.”

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“We are actively addressing challenges related to first-party delivery and first-party ordering,” Xu stated. “To establish yourself as a digital powerhouse, you must go beyond these fundamentals.”

Source: www.theguardian.com

Research suggests that universe may rotate every 500 billion years

New research led by astronomers at the University of Hawaii suggests that our universe could spin.

In the formation of the universe, gravity links galaxies with clusters of galaxies to construct vast co-nes-like structures that link hundreds of millions of light years along an invisible bridge. This is known as Cosmic Web. Image credit: Springel et al. / Max Planck Institute for Astrophysics.

“To paraphrase the Greek philosopher Heracritus of Ephesus, he famously said Pantarei – he thought everything would change, perhaps Panta Kaicurtai – he thought everything would change.”

According to current models, the universe expands evenly in all directions with no signs of rotation. This idea fits most of what astronomers observe.

But that doesn’t explain the so-called Hubble tension. It is a long-standing discrepancy between two ways of measuring how quickly the universe is expanding.

One method examines distant exploding stars or supernovas to measure distances to galaxies, providing the magnification of the universe over the past billions of years.

Another method uses artefact radiation from the Big Bang, providing a very early universe expansion rate, about 13 billion years ago. Each gives a different value for the expansion rate.

Dr. Szapudi and his colleagues developed a mathematical model of the universe.

First, the model followed standard rules. They then added a small amount of rotation. Those small changes made a huge difference.

“To my surprise, we found that our model solves paradoxes without conflicting with current astronomical measurements,” Dr. Szapudi said.

“What’s even better is that it’s compatible with other models that assume rotation.”

“So perhaps everything really changes.

The team’s models suggest that the universe could turn once every 500 billion years.

“This idea does not break known laws of physics,” the astronomer said.

“And maybe it explains why measurements of space growth are completely disagreeable.”

“The next step is to turn the theory into a complete computer model and find ways to find signs of this slow, universe spin.”

Survey results It will be displayed in Monthly Notices from the Royal Astronomical Society.

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Balázs Endre Szigeti et al. 2025. Can rotation solve the Hubble puzzle? mnras 538(4): 3038-3041; doi: 10.1093/mnras/staf446

Source: www.sci.news

Google faces a £5 billion lawsuit in the UK for allegedly driving its competitor out of business.

Google is facing a £5 billion lawsuit in the UK for allegedly stealing from its competitors in the internet search market and exploiting this advantage to overcharge companies for advertising.

A class action lawsuit filed in the Court of Competition Appeals claims that Google has manipulated search results to charge higher prices for ads compared to a fair market scenario.

It is alleged that Google, a part of Alphabet, struck deals with phone manufacturers to make Google the default search engine on IPHONE, preinstalling the Google search app and Chrome browser on Android devices to stifle competition from Apple.

The lawsuit, filed on behalf of numerous companies by competition law experts, argues that Google’s ad offerings give search engines better features and more visibility than its rivals.

A Google spokesperson dismissed the lawsuit as speculative and opportunistic, stating that consumers and advertisers choose Google willingly.

Businesses are said to have no alternative but to use Google Ads for promotion, as securing a spot on Google’s homepage is crucial for visibility and success.

The UK’s Competitive and Markets Bureau is currently investigating Google’s search services and their impact on the advertising market, as Google faces multiple antitrust probes worldwide.

In a recent antitrust case loss in the US, Google faces the possibility of having to restructure its business and divest parts of its advertising technology, impacting its revenue streams and industry practices.

The European Commission has accused Google of violating competition rules by favoring its own services in search results over competitors, potentially resulting in hefty fines.

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President Donald Trump seeks to dismiss antitrust lawsuits against tech companies, while the UK government considers reducing the Digital Services Tax on high-tech firms like Amazon, Google, and Apple.

Source: www.theguardian.com

In March, Apple Airlifted iPhones worth $2 billion from India amid Trump’s looming tariffs

Indian suppliers Foxconn and Tata, key partners of Apple, shipped approximately $2 billion worth of iPhones to the US in March. Apple took this step to avoid impending tariffs imposed by former US president Donald Trump.

To counter the potential increase in costs due to tariffs, Apple ramped up production in India and chartered a 600-tonne freight to airlift iPhones to the US. This operation involved using at least six cargo jets, described by a source as a strategy to “beat the tariffs.”

In April, the US administration enforced a 26% duty on imports from India, but later suspended most obligations for three months, except for those concerning China.

According to commercial customs data, Foxconn, Apple’s leading Indian supplier, exported $13.1 billion worth of smartphones in March, including various iPhone models. Their total cargo shipped from India to the US amounted to $5.3 billion this year.

Tata Electronics, another Apple supplier, exported $612 million worth of smartphones in March, a significant increase compared to the previous month. This included iPhone 15 and 16 models. Apple, Foxconn, and Tata have not responded to requests for comment.

Customs data revealed that all Foxconn shipments in March were air freighted from Chennai, India, and landed in various US locations, with Chicago being the primary destination.

Following the Chennai flight, Trump exempted smartphones and other electronic devices, mainly from China, from tariffs. However, these exemptions were expected to be temporary.

To streamline shipments, Apple reduced the customs clearance time at Chennai airport from 30 to 6 hours, benefiting Indian airport authorities.

Source: www.theguardian.com

Nvidia’s finances to take a $5.5 billion hit amid US restrictions on AI chip exports to China.

Nvidia has announced that it is expecting a $5.5 billion (£4.1 billion) impact following the ban imposed by Donald Trump’s administration on chip designers selling crucial artificial intelligence chips in China.

In an official statement released late Tuesday, the company disclosed that the H20 AI chip, specifically tailored for the Chinese market to comply with export regulations, will now require a special license for sale in China indefinitely.

The US government, engaged in a competition with China for AI supremacy, informed Nvidia that new regulations have been enacted to mitigate the risk of their products being utilized in Chinese supercomputers.

As a result, the chip manufacturer is set to incur $5.5 billion in losses for the financial quarter ending on April 27th due to its investment in H20 chips.

Nvidia, known for driving significant advancements in AI technology, has delivered substantial returns for investors, with its stock surging over 1,400% since 2020, making it one of the few trillion-dollar companies in the US.

However, the news on Tuesday caused Nvidia’s stock to fall by approximately 6% in after-hours trading, potentially wiping out billions of dollars in market value by Wednesday’s opening bell.

In Asia, chipmakers like Samsung Electronics and SK Hynix from South Korea saw a 3% decline in their stocks overnight, while US competitors like senior equity microdevices dropped by 7% in after-hours trading.

Although the chip industry has been exempt from the 10% tariff that began on April 5th, Trump indicated this week that he plans to impose tariffs on imported semiconductors and mentioned that some companies in this sector may have flexibility.

The US Department of Commerce has recently launched an investigation into the impact of chip and drug imports on national security.

The US heavily relies on chip imports from Taiwan, with Trump previously imposing a 32% tariff on products from the country before suspending most tariffs last week.

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Nvidia also revealed plans to invest up to $500 million in AI infrastructure in the US over the next four years to bolster its American manufacturing presence. While Nvidia designs chips, it outsources production to contractors, including Taiwanese semiconductor manufacturers.

Under the Biden administration, US officials had initially barred Nvidia and other AI chip manufacturers from selling advanced chips to China in October 2022. In response, Chinese authorities tightened controls over the tools and processors necessary for semiconductor production.

Source: www.theguardian.com

US Officials Accuse “Silicon Six” of Dodging $278 Billion in Corporate Taxes in a Decade

The “Silicon Six” tech giants in America have been accused of only paying $278 billion (£21.1 billion) in corporate income taxes over the last ten years.

Amazon, Meta, Alphabet, Netflix, Apple, and Microsoft have collectively made $1.1 trillion in revenue and 2.5 trillion in profit during the same period.

Despite this, they have only paid an average of 18.8% in national and federal taxes, compared to the US average of 29.7%, with Silicon Six allegedly involving tax avoidance in their business strategies.

Nonprofit organizations’ analysis showed that the average corporate income tax contribution for these companies fell to 16.1% over the past decade when excluding one-time US repatriation tax payments related to past tax avoidance.

The report also claimed that businesses inflated $820 billion in tax payments by including tax contingencies they didn’t anticipate paying during the same period.

Paul Monaghan, the CEO of FTF, stated, “Our analysis reveals that Silicon Six’s tax avoidance persists within their corporate structure. Their contributions exceed what other sectors like banks and energy pay in many regions globally.”

Monaghan highlighted “active tax practices” and companies’ significant influence on the economy, stressing that they spend millions lobbying the government.

The report points to the impact of tech moguls like Amazon’s Jeff Bezos, Apple’s Tim Cook, and Meta’s Mark Zuckerberg, emphasizing the influence of US tech companies.

Significant tax reductions for these companies reportedly played a pivotal role in discussions with the UK to secure lower tariffs on US exports.

Monaghan explained that much of Silicon Six’s international income benefits from lower tax rates due to tax credits for foreign intangible income. Overseas sales also face reduced income taxes due to lower profit margins and profits booked in low-tax jurisdictions.

Netflix had the lowest tax rate of 14.7% compared to its profit, with Microsoft at 20.4%. Amazon, despite a tax system criticized for profit shifting, had a corporate tax rate of 19.6%, surpassing Netflix, Meta (15.4%), and Apple (18.4%).

An Amazon spokesperson noted that UK revenues, costs, profits, and taxes are all reported and paid in the UK as required.

A Meta representative assured compliance with tax laws across all the countries they operate in, while a Netflix spokesperson stated adherence to relevant tax rules in every jurisdiction.

Microsoft, Alphabet, and Apple have been approached for comment.

Source: www.theguardian.com

Meta is currently facing a £1.8 billion lawsuit alleging it incited violence in Ethiopia.

A lawsuit totaling $2.4 billion (£1.8 billion) has been filed against Meta, accusing the owners of Facebook of contributing to violent activities following a ruling by the Kenya High Court allowing legal proceedings against US technology companies to proceed.

The suit, brought by two Ethiopians, demands that Facebook change its algorithm to increase the number of content moderators in Africa and prevent the promotion of hate-driven material and instigation of violence. It also seeks a $2.4 billion “return fund” for victims affected by hatred and violence incited on Facebook.


One of the plaintiffs is the son of Professor Meareg Amare Abrha, who was killed in Ethiopia after his location and threatening position were exposed on Facebook during a civil war in 2021. The other plaintiff, Fissehatekle, a former Amnesty International researcher, released a report on violence during a conflict in Tigray, northern Ethiopia, and also faced violence orchestrated through Facebook.

Meta argues that the Kenyan court, where Facebook’s Ethiopian moderator was situated, does not have jurisdiction over the case. However, the Kenya High Court in Nairobi ruled that the case falls within the state court’s jurisdiction.

Abrham Meareg, son of Meareg, expressed gratitude for the court’s decision, emphasizing the importance of Meta being accountable under Kenyan law. Tekuru, unable to return to Ethiopia due to Meta’s insufficient safety measures, called for fundamental changes in content moderation on all platforms to prevent similar incidents.

The lawsuit, backed by nonprofit organizations like Foxglove and Amnesty International, also demands a formal apology from Meta for Meareg’s murder. Katiba Institute, a Kenya-based NGO focusing on constitutional matters, is the third plaintiff in the case.

In a 2022 analysis, it was found that Facebook allowed content inciting violence through hatred and misinformation despite knowing the repercussions in Tiggray. Meta refuted the claims, citing investments in safety measures and efforts to combat hate speech and misinformation in Ethiopia.

In January, Meta announced plans to remove fact checkers and reduce censorship on its platform while continuing to address illegal and severe violations. Meta has not commented on the ongoing legal proceedings.

Source: www.theguardian.com

Openai secures record-breaking $400 billion contract with SoftBank

Openai announced a $400 billion funding round that valued ChatGpt makers at $300 million. Partnering with SoftBank, Openai aims to push the boundaries of AI research towards AGI (artificial general information) with significant computing power.

SoftBank believes in achieving “artificial super intelligence” (ASI) surpassing human intelligence, praising Openai as the best partner to reach this goal. SoftBank plans to invest $10 billion initially and $300 billion by 2025, subject to meeting certain conditions.

Facing competition from Deepseek and Meta in the open source AI space, Openai announced plans to develop a more open, generative AI model. Additionally, Openai is expanding its user base rapidly with the latest image generation features in ChatGpt.


Openai, led by CEO Sam Altman, previously favored a closed model for AI development. However, with evolving priorities, Openai is now embracing open source to allow developers more flexibility in adapting AI technologies.

Critics of closed AI models, like Google, argue that open models pose higher risks and are more susceptible to misuse. Former Openai investor Elon Musk urges Openai to prioritize open source safety.

Companies and governments prefer AI models they can control for data security reasons. Meta and Deepseek offer customizable models, enabling users to download and modify them to suit their needs.

Commenting on the success of new features in ChatGpt, Altman mentioned a surge in users overwhelming Openai’s resources. This advancement underscores the growing interest and demand for AI advancements.

Agence France-Presse

Source: www.theguardian.com

OpenAI Shuts Down $300 Billion Corporation

Openai announced on Monday that it had finalized a $40 billion funding agreement, doubling the valuation of the company from six months ago.

Led by SoftBank, the new funding round valued Openai at $300 billion and positioned it as one of the most valuable private companies alongside Rocket Company SpaceX and bytedance, the parent company of Tiktok.

The investment round follows the launch of the AI chatbot ChatGpt in late 2022, demonstrating the continued excitement in the high-tech industry for AI advancements.

Openai CEO Sam Altman expressed that the investment will drive innovations and make AI more beneficial in everyday life.

Openai also revealed that 500 million people are actively using ChatGpt weekly, with 20 million paying for the advanced version of the chatbot.

According to sources, the $40 billion investment will be split into two parts, with Softbank Group contributing 75% of the total amount.

Altman founded Openai as a nonprofit in 2015 with Elon Musk, transitioning it to a commercial enterprise in 2018 to attract the necessary funding for AI development.

Plans are in motion to shift the management of the company to a for-profit entity known as public benefit companies.

Musk filed a lawsuit against Openai and Altman, accusing them of prioritizing commercial interests over public good.

Openai aims to transition to public benefit companies by the end of the year, or risk a reduction in SoftBank’s contribution.

A bid from Musk and investors to acquire assets from Openai was rejected by the board of directors.

Altman’s efforts to separate the company from the nonprofit may face challenges due to the ongoing legal issues.

(Openai and Microsoft are facing a lawsuit alleging copyright infringement related to AI news content, which they have denied.)

Source: www.nytimes.com

Elon Musk’s Xai Firm Acquires Social Media Platform X for $330 Billion

Elon Musk’s Xai artificial intelligence company has purchased Musk’s X, a social media platform formerly known as Twitter, for $330 billion, showcasing the billionaire’s rapid integration strategy.

The deal, announced on Friday, merges two of Musk’s numerous portfolio companies, including Tesla and SpaceX, potentially aiding Musk in training his AI model, Grok.

In a post on X, Musk declared, “The future of Xai and X are intertwined. Today, we have taken a step towards combining data, models, calculation, distribution, and talent.”

There has been no immediate response from X or Xai representatives to requests for comment. Many transaction details remain unknown, including investor compensation, integration of X’s leadership into the new company, and potential regulatory examination.

Paolo Pescatore, an analyst at PP, described the development as “surprising and somewhat unexpected.” He added, “To some extent, it marks the end of a tumultuous chapter for X.”

Gil Luria, an analyst at Da Davidson & Co, noted, “The $45 billion price tag is no coincidence, exceeding Twitter’s 2022 Take-Private Transaction by $1 billion. This move allows Xai investors to share the value of the business with X co-investors.”

Musk, the world’s wealthiest individual, has accumulated significant power in Washington, D.C., overseeing government efficiency and cost-cutting efforts during the Trump administration through Doge. This positions him to potentially influence the institutions overseeing his business dealings.

Xai investors, now part of the combined entity, expressed no surprises over the deal, viewing it as a merger of leadership and management teams within Musk’s own organization. They rejected the proposed name change.

While Musk did not seek investor approval, both companies are working closely together to deepen integration with Grok.

According to reports, Musk’s Xai startup commenced two years ago and secured $10 billion in funding, valuing it at $75 billion.

In February, Musk made a $97.4 billion bid for Openai, a ChatGpt maker consortium, which was subsequently rejected. Musk co-founded Openai in 2015 with CEO Sam Altman.

Musk has been involved in direct competition with Openai, filing a lawsuit in California federal courts to prevent rivals from transitioning from non-profits to commercial entities. A judge recently denied a request for a provisional injunction to block the conversion.

The widespread adoption of AI software has sparked increased investment and competition in Silicon Valley. Companies are seeking ways to integrate software across various business functions for improved efficiency.

As AI competition intensifies, Xai is enhancing its data centers to train more advanced models. Their supercomputer cluster, Colossus, located in Memphis, Tennessee, is touted as the world’s largest.

In February, Xai introduced Grok-3, the latest chatbot iteration, poised to compete with Chinese AI firms Deepseek and Microsoft-backed Openai. The X platform can facilitate the distribution of Xai products and provide real-time user feedback.

In 2022, Musk acquired X and subsequently Twitter for $44 billion, taking the platform private after its 2013 IPO and stating, “the birds will be released” post-acquisition.

Following the acquisition, Musk restructured the company, urged advertisers to leave the platform, resulting in a significant revenue decline. However, as Musk’s influence grew, the brand eventually returned to X.

Sources familiar with the transaction revealed that seven banks provided loans to Musk for the X acquisition, extending their loans to XK for the X deal, maintaining their book debt for two years, due to heightened interest in exposure to AI companies and improved X operational performance.

After the merger, investors who acquired debts from banks are expected to profit, according to Espen Robak, founder of Pluris Aluation Advisors. He stated, “Even if not fully repaid, the debt holds increased value.”

Additionally, a US judge rejected Musk’s attempt to dismiss a lawsuit alleging he misled former Twitter shareholders by delaying disclosure of his initial investment in the company.

Source: www.theguardian.com

Elon Musk’s X company sees a resurgence in value with $44 billion acquisition.

Elon Musk’s social media platform X has reportedly surged to the $44 billion valuation he paid for it, marking a significant turnaround in his fortunes as the billionaire shifted from being a key ally of Donald Trump.

Investors recently assessed the platform, previously valued at $440 billion (£33.9 billion) on Twitter, through a secondary transaction, as reported by the Financial Times.

X is currently in the process of raising $2 billion from Fresh Capital in a major funding round by issuing new stocks to pay off debts exceeding $1 billion, which were evaluated at just $10 billion by existing investor Fidelity Investments in late September.

Musk, the world’s richest individual, took control of what was then Twitter in October 2022 and later rebranded it as X, tweeting “The Bird Is Free” in reference to the company’s logo. Subsequently, he made changes to the site’s moderation policy, resulting in some advertisers pausing or leaving.

Following a profanity-laden outburst at the New York Times Dealbook Summit in November 2023, Musk accused advertisers of attempting to “blackmail” him through boycotts, prompting legal action against the global advertising alliance and major companies like Unilever, Mars, and CVS Health for allegedly conspiring to avoid social networks.

The $44 billion valuation reflects a major shift for X and its investors, including Andreessen Horowitz, Sequoia Capital, 8VC, Goanna Capital, and Fidelity Investments. The $2 billion primary fund raise was priced through the secondary agreement.

Since Musk’s acquisition, X’s revenue has declined, but it managed to record an adjusted profit of $1.2 billion last year. Additionally, Musk’s stake in SpaceX now surpasses his Tesla holdings as his most valuable asset, according to Forbes.

Forbes estimates Musk’s net worth at $323 billion, with his SpaceX shares valued at approximately $147 billion—about $2 billion more than his Tesla shares following a decrease in the automaker’s stock price.

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Source: www.theguardian.com

Pokemon Go Developer Sells Games to Saudi Arabian Companies for $3.5 billion

Niantic Labs announced the sale of its video games division to Saudi-owned Scopely for a whopping $3.5 billion. This move comes as U.S. augmented reality companies pivot towards geospatial technology, unable to recreate the success of the 2016 sensation, Pokémon Go.

The deal, revealed on Wednesday, also propels Saudi Arabia closer to its goal of becoming the ultimate global gaming hub. The Kingdom’s Sovereign Wealth Fund acquired Scopely for $4.9 billion in 2023 as part of a broader strategy to diversify beyond fossil fuels.

As per the agreement, Niantic will distribute an additional $350 million to its shareholders. Additionally, it will separate its Geospatial Artificial Intelligence (AI) business into a new entity named Niantic Spatial, led by John Hanke, the founder, and CEO of Niantic.

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Niantic Spatial will receive $250 million in capital from Niantic’s balancesheet and an additional $50 million from Scopely. All former investors of Niantic will retain their shares in Niantic Spatial.

This move marks the end of a challenging period for Niantic, which struggled post the success of Pokémon Go, leading to employee layoffs in 2022 and 2023.

Saudi Arabia, already known for being a gaming and esports center, is steadfast in its plan to invest nearly $38 billion in gaming-related ventures through its savvy gaming group.

Savvy Games, a prominent investor in global video game companies, including Nintendo, holds a 7.54% stake despite a slight profit decrease last year.

Source: www.theguardian.com

Ancient Shock Crater Discovered in Australia, Estimated to be 34.7 Billion Years Old

A team of geologists from Curtin University discovered clear evidence of a high-speed impact that occurred 3.47 billion years ago (Archean EON) in the heart of the Pilbara region of Western Australia. This discovery makes it the oldest impact crater found on Earth, surpassing the previous record of 2.2 billion years.



Grind cones from the Arctic Dome in the heart of Australia’s Pilbara region. Image credit: Curtin University.

“When more than a million craters with diameters exceeding 1 km and over 40 km, more than 100 km, the moon holds an exquisite record of the intense artillery fire that the body of the inner solar system has endured during the first billion years of its history.”

“On Earth, this early impact record appears to reflect the destructive efficiency of erosion and subduction, bringing the primary skin back to the convection mantle.”

“Nevertheless, the oldest part of many cratons, the ancient (4-2.5 billion years ago) nuclei of the continent formed 3.5 billion years ago, must maintain evidence of impact fluxes beyond similar regions of the moon of comparable age.”

“However, the oldest recognized terrestrial impact structure in Yarabuba, Western Australia dates 2.23 billion years ago. Where are Archean Craters?”

Professor Johnson and his co-authors investigated the Archiunlock Formation at the Arctic Dome in the Pilbara region and discovered evidence affecting major metstones 3.5 billion years ago.

“This discovery has challenged our previous assumptions about the ancient history of our planet,” Professor Johnson said.

Researchers discovered Archean Crater thanks to crushed cones. This is a unique rock formation that has only formed under the intense pressure of the Metstone strike.

The crushed cone at the site, about 40 km west of the marble bar, was formed when metstones over 36,000 km/h were pounded into the area.

This was a major planetary event, with craters over 100 km wide sending fragments flying around the world.

“We know that in the early solar systems, seeing the moon is common,” Professor Johnson said.

“To date, the absence of truly ancient craters means they are largely ignored by geologists.

“This study provides an important part of the puzzle of Earth’s impact history and suggests that there may be many other ancient craters that can be discovered over time.”

“The discovery shed new light on the way metstones formed the early environment of the Earth,” said Chris Kirkland, a professor at Curtin University.

“Discovering this impact and finding more from the same period can explain a lot about how life began, as impact craters created an environment that is friendly to microbial life, such as heated pools.”

“It also fundamentally refines our understanding of the formation of the earth’s crust. The enormous amount of energy from this impact may have played a role in shaping the early Earth’s crust by pushing part of the Earth’s crust underneath another or rising from deeper into the Earth’s mantle towards the surface.

“It may have contributed to the formation of the craton, the large, stable land that formed the foundation of the continent.”

Discoveries are reported in a paper In the journal Natural Communication.

____

CL Kirkland et al. 2025. The Old Archian Impact Crater in Pyrabara Craton, Western Australia. Nut commune 16, 2224; doi:10.1038/s41467-025-57558-3

Source: www.sci.news

Mrbeast, YouTube sensation, set to secure investment round valuing his company at $5 billion

MrBeast, the world’s largest YouTube star, is planning to raise hundreds of millions of dollars in a move that could value the company at approximately $5 billion (£3.9 billion).

The YouTuber, whose real name is Jimmy Donaldson, has reportedly been in discussions with various wealthy individuals and financial companies regarding participation in the investment round.

The funds are intended to establish a holding company for his expanding empire, which includes a video production company, a chocolate brand called Feast, and a snack business named Lunch. According to Bloomberg, the money could also be used to expand his media and merchandise packaging business.

The talks regarding potential funding are still in the early stages, and it is unclear who will invest and at what valuation. This would not be his first fundraising round, as he has previously secured investments from companies such as New York-based Alpha Wave Global.

If successful, the new funds would help Donaldson further expand his business. With over 368 million subscribers on his channel, he is already the world’s largest YouTuber.

The 26-year-old from Wichita, Kansas, is known for his videos featuring stunts, challenges, and cash giveaways. One of his most popular viral videos involved recreating the set from the Netflix series Squid Game, costing $3.5 million. The challenge had 456 participants competing for a prize of $456,000.

He has also launched the reality competition show “Beast Games” on Amazon, which had limited viewership last month.

Like many YouTubers, Donaldson started on the platform in 2012 and has since ventured into food brands like Fastables and MrBeast Burgers.

Despite earning tens of millions of dollars annually, he is also known for his charitable efforts. Much of his earnings are reinvested into his videos and philanthropy.

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However, his work has not been without criticism. He has faced backlash for a history of homophobic comments as a teenager and being a demanding employer. Some have labeled his content as “poverty porn,” claiming that people only benefit from cash, prizes, and gifts by appearing in his videos. Despite the criticism, his efforts to fund cataract surgery for 1,000 people to restore their vision were praised by charities.

Source: www.theguardian.com

Nigeria takes legal action against $81.5 billion cryptocurrency market for economic losses and tax evasion

Nigeria has filed a lawsuit seeking $79.5 billion from the government for economic losses caused by $2 billion in cryptocurrency exchange operations and back taxes, according to court documents filed on Wednesday.

Authorities have criticized Binance, the world’s largest cryptocurrency exchange, blaming it for the devaluation of the Nigerian currency. Two executives of the company were arrested in 2024 after local Naira trading websites emerged as popular platforms. Binance, which is not registered in Nigeria, has not yet commented on the situation.

The Nigerian Federal Internal Revenue Service (FIRS) claims that Binance owes corporate income tax due to its significant economic presence in the country. FIRS is seeking income tax payments for 2022 and 2023, along with a 10% annual penalty on the outstanding amounts. Additionally, FIRS is demanding an unpaid tax rate of 26.75% based on the interest rate of the Nigerian central bank.

Nigeria is already facing four counts of tax evasion related to the cryptocurrency industry, including non-payment of VAT, company income tax, failure to file tax returns, and conspiracy to help customers evade taxes through the platform.

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In response to the allegations, Binance announced in March that it had halted all Naira transactions. The company is also facing separate allegations of institutional money laundering, which it has denied.

Source: www.theguardian.com

OpenAI rejects $97.4 billion bid from Musk, asserts company is not for sale

The recent opening rejected a $97.4 billion bid by a consortium led by billionaire Elon Musk for ChatGpt makers, stating that the startup is not up for sale.

This unsolicited offer is Musk’s latest attempt to thwart a startup co-founded with CEO Sam Altman.

“Openai is not for sale. The board unanimously turned down this latest attempt to disrupt Musk’s competition. Openai emphasized that their mission is to ensure that AGI benefits humanity and mentioned the possibility of a reorganization as a nonprofit organization.”

Altman confirmed in an interview with Axios that Openai is not for sale, and he responded to Musk’s offer with a simple “no thanks,” prompting Musk to call him a “swindler.”

A consortium, including Musk-led AI startup Xai, stated that they would withdraw their bid for Openai’s nonprofit status if plans to become a for-profit organization were removed, as per a court application filed on Wednesday.

Two days ago, the consortium introduced new terms in the proposal through a court filing. The filing exposed that the client’s “published ‘bids’ were not actual bids at all.” The Openai board communicated their position to Musk’s lawyer on Friday.

Other investors in the consortium include Valor Equity Partners, Baron Capital, and Hollywood Power Broker Ari Emanuel.

Altman and Musk have been in conflict for several years.

After Musk’s departure in 2019, Openai established a for-profit division that attracted significant fundraising, leading Musk to claim that the startup was deviating from its original mission and focusing more on profits than public good.

Musk filed a lawsuit against Altman, Openai, and their major supporter Microsoft in August last year on grounds of breach of contract.

In November, Musk requested a preliminary injunction from a US district judge to prevent the transition to a for-profit structure.

Source: www.theguardian.com

Elon Musk announces potential $97 billion bid on OpenAI if it remains a nonprofit.

Elon Musk has stated that he will retract a $97 billion offer to purchase the nonprofit organization behind Openai if the makers of ChatGpt agree to abandon plans to convert them into for-profit entities.

“If the board of Openai, Inc is willing to uphold its charitable mission and ensure that any “sales” are conducted without conversions, Musk will withdraw his bid,” he stated on Wednesday. “If not, the nonprofit must be compensated based on the amount paid by the prospective buyer for the assets.”

Earlier this week, Musk and a group of investors made their offer, adding a new twist to the ongoing controversy surrounding the artificial intelligence company he co-founded a decade ago.


Openai is currently operated by a nonprofit board dedicated to its original mission of developing AI “safer and more advanced than humans” for the public good. However, as the business grows, it has announced plans to change its corporate structure formally.

Musk, along with his AI startup Xai and a group of investment firms, seeks control over Openai by transforming the nonprofit into a for-profit subsidiary.

Openai CEO Sam Altman swiftly dismissed the unsolicited offers in a social media post, reiterating at AI’s Paris Summit that the company is not for sale. Openai’s board chairman, Bret Taylor, echoed these sentiments at the event on Wednesday.

Musk and Altman were instrumental in launching Openai in 2015, but had disagreements over leadership, leading to Musk stepping down from the board in 2018 only to rejoin in 2024.

During a video call at the World Government Summit in Dubai, Musk criticized Altman once again, comparing Openai to turning the Amazon rainforest into a timber company. Altman countered that Musk’s legal challenges were influenced by his competing startups.

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Musk is currently seeking a California federal judge’s intervention to prevent Openai’s commercial conversions, alleging breach of contract and antitrust violations. While the judge has shown doubt about some of Musk’s arguments, no ruling has been issued yet.

Source: www.theguardian.com

Elon Musk to lead group in unexpected $100 billion bid for OpenAI

Elon Musk stirred up a dispute between Openai and its CEO Sam Altman on Monday. The billionaire heads a group of investors that revealed they had put forth a $97.4 billion bid for “all assets” of the artificial intelligence company to Openai’s board of directors.

The startup behind ChatGpt is in the process of transitioning from its original non-commercial status. Openai also operates a for-profit subsidiary, and Musk’s unsolicited offer could complicate the company’s plans. Wall Street Journal first reported the proposed bid.

“If Sam Altman and the current Openai, Inc. board of directors are intending to fully focus on profit, it is crucial that the charity is adequately compensated for what its leadership is taking away from it. It’s about time,” stated Mark Toberov, a lawyer representing investors.

Altman quickly responded to Musk shortly after the news broke, stating, “Thank you, but I’ll buy Twitter for $9.74 billion if necessary.” Musk acquired Twitter for $44 billion in 2022 and rebranded it. Musk’s reply to the post was “Swindler.”

Musk co-founded Openai but left the company in 2019 to start his own AI company called Xai. There have been ongoing disagreements between him and Altman over the company’s direction. He sued Openai over its restructuring plan, dropped the lawsuit, and then reignited the conflict.

The bid is backed by Xai and several investment firms, including those managed by Joe Lonsdale, who co-founded Stealth Government contractor Palantir. Ari Emanuel, CEO of entertainment company Endeavor, also joined the group through his investment fund.

“At X.ai, we adhere to the values that Openai has committed to uphold. Grok has fostered open source. We respect the rights of content creators,” Musk stated. “It’s time for Openai to return to its roots of open-source, safety-focused power. We will ensure that happens.”

Toberoff informed the Wall Street Journal that Musk’s consortium of investors is prepared to match or exceed the value of any other potential bids.

Openai argues that the restructuring is crucial for the company’s sustainability and access to capital. They claim that sticking with the non-profit structure alone will not keep up with the highly competitive world of AI innovation. Openai anticipates the restructuring to be completed by 2026.

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Musk is a close associate of Donald Trump, whereas Altman met with the president and attended the inauguration. Trump has identified Openai as part of a group of AI companies collaborating on a $500 million deal named Stargate to invest in cutting-edge technology. Musk’s Xai is not included in this agreement.

Source: www.theguardian.com

$5 billion Electric Vehicle Charging Program Suspended by Trump Administration

The Trump administration has directed US states to halt the $5 billion electric vehicle charging station program, dealing another blow to the environmental movement since the president’s return to the White House.

In a notice issued on Thursday, the Federal Highways Agency (FHWA) of the Transportation Agency ordered states not to utilize funds allocated under the Biden administration’s National Electric Vehicle Infrastructure (NEVI) program.

Emily Biondi, assistant manager of planning, environment, and real estate at FHWA, wrote in a memo, “The new leadership of the Department of Transportation has chosen to reassess the policies guiding the implementation of the NEVI Formula Program.” Biondi added, “Therefore, the current NEVI Formula Program Guidance dated June 11, 2024, supersedes all previous versions of this guidance.”

Biondi further stated, “As a consequence of the withdrawal of guidance for the NEVI Formula Program, FHWA has ceased immediately the approval of all plans for electric vehicle infrastructure deployment in all states. Therefore, the updated final NEVI Formula Program is effective immediately. No new obligations will be incurred under the NEVI Formula Program until new guidance is issued and new state plans are submitted and approved.”

Biondi mentioned that existing obligations for the design and construction of charging stations will be reimbursed to prevent disruption in current financial commitments until new guidance is issued.

According to the page on the Energy Department website, the NEVI program funds states to strategically deploy EV chargers, covering up to 80% of qualified project costs.

In a report by Politico on Thursday, FHWA has removed several website pages containing information about the NEVI program.

Andrew Rogers, a former FHWA administrator under the Biden administration, stated to Politico that the memo “appears to disregard federal court rulings and multiple injunctions.”

Currently, 14 states have operational EV stations, as reported by EV Clearing House. As of November last year, there was an 83% increase in open NEVI ports from the previous quarter, with 126 public charging ports at 31 NEVI stations in nine states.

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A total of 41 states have released solicitations for EV charging stations, with over 3,560 fast charging ports at more than 890 locations.

During his campaign, Trump opposed EVs, suggesting that EV supporters should “rot in hell” and that Biden’s backing of EVs would lead to a “bloodbath” in the US automotive industry.

One of the executive orders Trump signed shortly after taking office aimed to ensure that half of all new vehicles for sale in the US between 2021 and 2030 would be revoked.

Source: www.theguardian.com

Big Tech Companies Dispute President Trump’s $500 Billion AI Investment Announcement, Involving Elon Musk

Major technology giants criticized their competitors following Donald Trump’s announcement of significant investments in AI the day before.

President Trump revealed Stargate, a $500 billion initiative funded by OpenAI, Oracle, and SoftBank. The announcement featured leaders from both companies: Sam Altman, Larry Ellison, and Masayoshi Son, with Son as the project chairman. A representative from Abu Dhabi’s state-run AI fund MGX, another major investor, was notably absent.

The partnership aims to establish data centers and computing infrastructure crucial for AI development. While the initial investment amount is substantial, estimates suggest that developing AI will require as much funding.

Notably missing from the event was Elon Musk, CEO of Tesla, SpaceX, and xAI, who is also the wealthiest person globally. Despite Musk’s close ties to Trump and rumored office in the White House, he dismissed Stargate as a financial sham the following night.

When OpenAI announced on X (Musk’s social network) that they would immediately deploy $100 billion, Musk countered, stating that they lacked the funds and criticizing SoftBank’s funding of less than $10 billion. Musk, with a net worth of about $430 billion, tweets prolifically on a variety of subjects.

President Trump has yet to respond to Musk’s comments, focusing instead on Melania’s anniversary on his social network, Truth Social.

Musk continued his criticism on Twitter, sharing a leaked image of a research tool supposedly used to calculate Stargate’s $500 billion cost. He spent much of Wednesday afternoon attacking the project.

Sam Altman initially praised Musk’s work but later questioned his motives for criticizing SoftBank. Satya Nadella, CEO of Microsoft, responded diplomatically when asked about the situation, emphasizing Microsoft’s plans to invest in Azure.

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The tension between Musk and Altman dates back to their history at OpenAI, where Musk eventually parted ways with Altman. The heads of Oracle and SoftBank involved in Stargate have not yet spoken on the matter.

Source: www.theguardian.com

Trump Reveals $500 Billion Partnership in Artificial Intelligence with OpenAI, Oracle, and SoftBank

Donald Trump has initiated what he refers to as “the largest AI infrastructure project in history,” a $500 billion collaboration involving OpenAI, Oracle, and SoftBank, with the goal of establishing a network of data centers throughout the United States.

The newly formed partnership, named Stargate, will construct the necessary data centers and computing infrastructure to propel the advancement of artificial intelligence. Trump stated that over 100,000 individuals will be deployed “almost immediately” as part of this initiative, emphasizing the objective of creating jobs in America.

This announcement signifies one of Trump’s initial significant business moves since his return to office, as the U.S. seeks new strategies to maintain its AI superiority over China. The announcement was made during an event attended by Mr. Ellison, Softbank’s Masayoshi Son, Open AI’s Sam Altman, and other prominent figures.

President Trump expressed his intention to leverage the state of emergency to promote project development, particularly in the realm of energy infrastructure.

“We need to build this,” declared President Trump. “They require substantial power generation, and we are streamlining the process for them to undertake this production within their own facilities.”

This initiative comes on the heels of President Trump reversing the policies of his predecessor, President Joe Biden. A 100-page executive order signals a significant shift in U.S. AI policy regarding safety standards and content watermarking.

While the investment is substantial, it aligns with broader market projections – financial firm Blackstone has already predicted $1 trillion in U.S. data center investments over a five-year period.

President Trump portrayed the announcement as a vote of confidence in his administration, noting that its timing coincided with his return to power. He stated, “This monumental endeavor serves as a strong statement of belief in America’s potential under new leadership.”

The establishment of Stargate follows a prior announcement by President Trump regarding a $20 billion AI data center investment by UAE-based DAMAC Properties. While locations for the new data centers in the U.S. are under consideration, the project will commence with an initial site in Texas.

Source: www.theguardian.com

Webb detects a gravitationally stretched star located 6.5 billion light years from Earth

Using observations from the James Webb Space Telescope, astronomers found that at a time when the Universe was half its current age, a single galaxy behind the galaxy cluster Abel 370 had a redshift of 0.725 (Dragon We identified a star with more than 40 microlenses in an arc (called an arc).

In this Hubble image of Abell 370, the host galaxy in which 44 stars were discovered appears several times. Image credit: NASA.

“This groundbreaking discovery demonstrates for the first time that it is possible to study large numbers of individual stars in distant galaxies,” said Fengwu Sun, a postdoctoral researcher at the Harvard University & Smithsonian Center for Astrophysics. the doctor said.

“Previous studies using the NASA/ESA Hubble Space Telescope discovered about seven stars, and now we have the ability to resolve them in a way that was previously impossible. ”

“Importantly, observing larger numbers of individual stars will also help us better understand the dark matter in the lens surfaces of these galaxies and stars. i didn't understand.”

In the study, Sun and his colleagues analyzed web images of a galaxy known as Dragon Arc, which lies along the line of sight from Earth behind a massive galaxy cluster called Abel 370.

Through gravitational lensing, Abel 370 stretches the Dragon Arc's characteristic spiral into an elongated shape. It is a hall of mirrors as big as the universe.

Astronomers carefully analyzed the color of each star in the Dragon Arc and discovered that many of them were red supergiants. This is in contrast to previous discoveries that primarily identified blue supergiants.

The researchers say this difference in star types highlights the unique ability of Webb observations at infrared wavelengths to reveal stars even at low temperatures.

“When we discovered these individual stars, we were actually looking for background galaxies that were magnified by galaxies within this giant cluster,” Dr. Sun said.

“But when we processed the data, we found that there were many what appeared to be individual star points.”

“It was an exciting discovery because it was the first time we had been able to see so many individual stars so far away.”

“We know more about red supergiants in our local galactic neighborhood, because they are closer and we can take better images and spectra, and sometimes even break up stars. It’s from.”

“Knowledge gained from studying red supergiants in the local universe can be used in future studies to interpret what happens next to red supergiants during the early stages of galaxy formation.”

Most galaxies, including the Milky Way, contain tens of billions of stars. In nearby galaxies, such as the Andromeda galaxy, astronomers can observe stars one by one.

But in galaxies that are billions of light years away, their light has to travel billions of light years to reach us, so stars appear mixed together, which explains how galaxies form and evolve. This has been a long-standing challenge for scientists who study it.

“To us, very distant galaxies usually look like diffuse, blurry clumps,” says Dr. Yoshinobu Fudamoto, an astronomer at Chiba University.

“But in reality, those clumps are made up of so many individual stars that our telescopes can't resolve them.”

of findings Published in a magazine natural astronomy.

_____

Yuya Fudamoto others. Identified over 40 gravitationally expanded stars in the galaxy at redshift 0.725. Nat Astronpublished online on January 6, 2025. doi: 10.1038/s41550-024-02432-3

Source: www.sci.news

Tesla’s market value skyrockets by nearly $150 billion in a single day, marking its best performance in a decade

On Thursday, Tesla shares surged to their lowest point in over a decade after Elon Musk confidently predicted a sales increase, reassuring investors about the company’s commitment to expanding its electric car sales. The stock closed with nearly a 22% increase, marking its largest gain. By the end of trading, Tesla’s market value had risen by almost $150 billion.

Musk anticipated a sales growth of 20-30% for the next year, announced plans to unveil an affordable car in the first half of 2025, and highlighted efforts to enhance profit margins through production cost reductions in the third quarter.

The stock price peaked at $262.2 during trading, with approximately 200 million shares exchanged. This jump was the company’s biggest since May 2013, reversing recent losses from concerns that Musk’s focus on new projects like robotaxis was diverting attention.

Musk is striving to transition Tesla from a leading electric vehicle company to an AI and robotics enterprise, although a detailed plan for this shift has not yet been formulated. Investors had sold Tesla stock earlier due to insufficient information about the robotaxi initiative.

Ed Egilinsky of Direxion said, “Some skeptics view this rally as reassuring, especially after the pre-earnings release stock sell-off in October, as the financial results exceeded expectations.”

During the last quarter, Musk made daring company announcements focusing on ventures beyond cars, such as driverless taxis and humanoid robots, causing concerns among investors about shrinking profit margins already affected by price reductions.

Tesla reported third-quarter profit margins surpassing Wall Street forecasts, with production costs at record lows of approximately $35,100 per vehicle. The company also revealed $326 million revenue from its autopilot software, Fully Self-Driving (FSD), integrated into the Cybertruck and other autonomous features.

FSD serves as the foundation for Tesla’s robotaxi program.

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Musk also expressed his belief that Tesla vehicles will soon offer paid driverless ride-hailing services, reiterating his commitment at the robotaxi event. However, this plan may encounter regulatory hurdles.

Despite the reassurances on Wednesday, not all investors are placated by Tesla’s direction.

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a significant Tesla investor, stated that robotaxis and AI are not the core businesses he wants Musk to prioritize.

“The good old days were when Elon Musk was sleeping in the factory, working tirelessly every day. He shouldn’t be distracted by ventures that stray from his main focus,” Gerber emphasized.

Source: www.theguardian.com

Investors React Poorly to CyberCab Self-Driving Car, Tesla’s Value Drops $60 Billion

Tesla shares dropped almost 9% on Friday, erasing roughly $60 billion from the company’s market value following the underwhelming announcement of its highly anticipated robotaxis that failed to impress investors.

The electric vehicle manufacturer’s stock plummeted to $217 at the close of the market after CEO Elon Musk revealed a much-hyped self-driving car at an event in Hollywood. Since the start of the year, the stock price has declined by about 12%.

Musk stated that Tesla would commence the development of a fully autonomous CyberCab by 2026 priced under $30,000 and introduced a van capable of transporting 20 people autonomously within the city, aiming to revolutionize parking.

Prior to the event, he tweeted: “And within 50 years all transportation will be fully autonomous.”

During the presentation, he mentioned that parking would no longer be necessary in the city.

However, analysts were disappointed by the lack of specifics at the event concerning Tesla’s projects and other developments. Musk has a track record of making ambitious projections about future products that often fail to materialize within set deadlines or at all.

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Royal Bank of Canada analyst Tom Narayan remarked in an investor note that the event lacked specifics. He stated, “Investors we spoke to during the event felt that the event glossed over actual figures and timelines.”

“These shortcomings are common at Tesla events, which appear to focus more on promoting and branding Tesla’s vision rather than providing concrete data for analysis. Consequently, we anticipate a decline in the stock price.”

Narayan also mentioned that some investors were anticipating a preview of an affordable car equipped with pedals and a steering wheel set to be launched next year, but no such announcement was made.

Garrett Nelson, an analyst at investment research firm CFRA, expressed disappointment with the revelations about the CyberCab and the lack of information regarding more economical vehicles.

He said: “The event raised numerous questions but was surprisingly brief and resembled more of a controlled demonstration than a comprehensive presentation. We were unsatisfied with the absence of details about [Tesla’s] near-term product plans, which include a more affordable model and the Roadster. Musk previously mentioned on a conference call that production of these models is set for 2025.”

Source: www.theguardian.com

Apple fails to win EU court case challenging Ireland’s €13 billion tax bill

Apple has lost its high-profile 13 billion euro (11 billion pounds) Irish tax battle with the EU, but the ruling will bolster efforts by the European Commission to crack down on “preferential” tax regimes favoring multinational companies.

The long-awaited ruling from the European Court of Justice (ECJ) came after a years-long legal battle over whether the European Commission was right in 2016 to demand the return of 13 billion euros of “illegal” tax breaks given to Apple for giving the iPhone maker an unfair advantage.

ECJ (European Court of Justice) The verdict was given The Commission argued that a lower court ruling in favor of Apple should be overturned, upholding a 2016 European Commission decision that found Ireland had provided unlawful assistance to Apple in the tax treatment of profits from Apple’s activities outside the United States and that Ireland was required to recoup the money.

In 2020, a lower court, the General Court, annulled the 2016 European Commission decision, finding that it had not been sufficiently established that Apple’s subsidiaries enjoyed a selective advantage. That ruling has now been set aside by the European Court of Justice, which has confirmed the European Commission’s 2016 decision.

The ruling was a victory for EU Competition Commissioner Margrethe Vestager, who concluded: 2016 The iPhone maker benefited from billions of dollars worth of unfair tax breaks from the Irish government.

Vestager, who is due to step down this year, has been seen as a tough enforcer who has boldly taken on powerful multinationals such as Fiat, Amazon and Starbucks over their tax claims. But some of the cases have not stood the test of time, with a 2022 ruling against Fiat that was later overturned.

The case brings to an end a years-long legal battle that began in 2016 when the European Commission ordered Apple to pay billions of euros for significant underpayment of tax on profits from 2003 to 2014. Apple, which has had its European headquarters in Cork since 1980, was found by the EU’s competition watchdog to have benefited from a tax ruling by Irish authorities and to have paid an effective tax rate of 0.005 percent in 2014.

Apple has denied the accusations, saying the government aid money had not been paid, and CEO Tim Cook said: It is called The claim is “political nonsense.”

Apple challenged the Commission at the General Court, the EU’s second-highest court, and won. Conclusion In July 2020, Brussels ruled that Apple had failed to prove that it had obtained an illegal economic benefit in terms of tax in Ireland.

The Commission appealed, and last year the Advocate General of the European Court of Justice, Giovanni Pitruzzella, recommended that the Commission overturn the General Court’s earlier ruling. Advocate General Pitruzzella said the General Court had made an error of law and needed to carry out a new assessment. He recommended that the European Court of Justice remit the case back to the General Court for a new ruling on the substance of the case.

Pitruzella’s recommendation was not legally binding and did not have to be followed by the ECJ, but the attorney general’s opinion carries great weight and usually influences the court’s final decision.

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Following the ECJ ruling, Apple said: “This case is not about how much tax we pay, but which government we owe tax to. We have always paid all taxes wherever we do business and have never had any special arrangements. Apple is a driver of growth and innovation in Europe and around the world, and we are proud to have consistently been one of the world’s largest taxpayers.”

“The European Commission is seeking to change the rules retroactively, ignoring the fact that our income is already subject to tax in the United States under international tax law. We are disappointed by today’s decision because the European Court of Justice previously reviewed the facts and invalidated this case in its entirety.”

Meanwhile, the ECJ It also ruled He upheld the 2.4 billion euro fine imposed by the European Commission against Google in an antitrust case. Whether Google falsely favored its online shopping service. In this case, the Attorney General said In January, the ECJ ruled that Google’s appeal should be dismissed.

Google said: “We are disappointed with the court’s decision, which concerns very specific facts. We made changes in 2017 to comply with the European Commission’s decision. Our approach has been successful for more than seven years, generating billions of clicks across over 800 comparison shopping services.”

Source: www.theguardian.com

Recent research indicates that a giant asteroid collided with Ganymede 4 billion years ago

Jupiter’s moon Ganymede is home to an ancient impact structure called the Groove System, the largest impact structure in the outer Solar System, whose impact would have had a major impact on Ganymede’s early history.



The distribution of grooves and the location of the center of the groove system are always shown on the hemisphere away from Jupiter (top) and on a cylindrical projection of Ganymede (bottom). Grey areas represent geologically new terrains that are devoid of grooves. Gutters (green lines) are only present in geologically older terrains (black areas). Image courtesy of Naoyuki Hirata, doi: 10.1038/s41598-024-69914-2.

Ganymede is the largest moon in the solar system and has many unique features, including tectonic valleys known as grooves.

The grooves are the oldest surface features identified on Ganymede, as they are crossed by impact craters over 10 km in diameter. The grooves provide clues to the moon’s early history.

The trench is thought to be a fragment of a multi-ring impact basin structure similar to the Valhalla basin on Callisto and the Asgard basin.

The largest trench system lies across the Galileo-Marius region, the so-called Galileo-Marius trench system, which is the remnant of an ancient giant impact that radiates in concentric circles from a single point on Ganymede.

“Jupiter’s moons Io, Europa, Ganymede, and Callisto each have interesting features, but what caught my attention were the grooves on Ganymede,” said planetary scientist from Kobe University. paper Published in the journal Scientific Reports.

“We know that this feature was created by an asteroid impact about 4 billion years ago, but we didn’t know how large that impact was or how it affected the Moon.”

First, Dr. Hirata noticed that the estimated location of the impact was almost exactly on the meridian farthest from Jupiter.

“Similarities with the Pluto impact that shifted the dwarf planet’s rotation axis, as seen through NASA’s New Horizons spacecraft, suggest that Ganymede underwent a similar reorientation,” he said.

The asteroid that struck Ganymede was probably about 300 kilometers (180 miles) in diameter, roughly 20 times larger than the Chicxulub asteroid that smashed into Earth 65 million years ago, ending the age of the dinosaurs, leaving a temporary crater 800 to 1,000 miles (1,400 to 1,600 kilometers) across, according to the study.

Only an impact of this magnitude would be likely to shift the Moon’s rotation axis to its current position due to the change in mass distribution, regardless of where on the surface the impact occurred.

“We want to understand the origin and evolution of Ganymede and other Jupiter moons,” Dr. Hirata said.

“The giant impact must have had a major impact on Ganymede’s early evolution, but the thermal and structural effects of the impact on Ganymede’s interior remain largely unexplored.”

“We think that further research into the application of the internal evolution of icy moons could be done next.”

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N. Hirata. 2024. Giant impact on early Ganymede and subsequent reorientation. Scientific Reports 14, 19982. doi: 10.1038/s41598-024-69914-2

Source: www.sci.news

New study suggests Milky Way’s thinner disk formed within one billion years of the Big Bang

Use of Data ESA's Gaia mission Astronomers have discovered a number of metal-poor stars that are more than 13 billion years old and in orbits similar to our sun.

Rotational motion of a young (blue) and an older (red) star similar to the Sun (orange). Image credit: NASA / JPL-Caltech / R. Hurt / SSC / Caltech.

“The Milky Way has a large halo, a central bulge and bar, and thick and thin disks,” said Dr Samir Nepal of the Leibniz Institute for Astrophysics Potsdam and his colleagues.

“Most of the stars are found in a thin disk of the so-called Milky Way galaxy, which revolves regularly around the galactic center.”

“Middle-aged stars like our Sun, which is 4.6 billion years old, belong to a thin disk that is generally thought to have begun to form between 8 and 10 billion years ago.”

Astronomers used the new Gaia data set to study stars within about 3,200 light-years of the Sun.

They found a surprisingly large number of very old stars in the thin disk orbit, most of which are over 10 billion years old, with some being over 13 billion years old.

These ancient stars show a wide range of metal compositions: some are very metal-poor (as expected), while others have twice the metal content of the much younger Sun, indicating that rapid metal enrichment occurred early in the evolution of the Milky Way.

“These ancient stars in the disk suggest that the formation of the Milky Way's thin disk began much earlier than previously thought, around 4 to 5 billion years ago,” Dr Nepal said.

“This study also reveals that the Galaxy underwent intense star formation early on, leading to rapid metal enrichment in its inner regions and the formation of a disk.”

“This discovery brings the Milky Way's disk formation timeline into line with that of high-redshift galaxies observed with the NASA/ESA/CSA James Webb Space Telescope and the Atacama Large Millimeter Array (ALMA).”

“This shows that cold disks can form and stabilize very early in the history of the universe, providing new insights into the evolution of galaxies.”

“Our study suggests that the Milky Way's thin disk may have formed much earlier than previously thought and that its formation is closely linked to an early chemical enrichment in the innermost regions of the galaxy,” said Dr Cristina Chiappini, astronomer at the Leibniz Institute for Astrophysics Potsdam.

“The combination of data from different sources and the application of advanced machine learning techniques has allowed us to increase the number of stars with high-quality stellar parameters, which is an important step leading our team to these new insights.”

of paper will be published in journal Astronomy and Astrophysics.

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Samir Nepal others2024. Discovery of local counterparts of disk galaxies at z > 4: The oldest thin disk in the Milky Way using Gaia-RVS. A&Ain press; arXiv: 2402.00561

Source: www.sci.news

Paleontologists have determined that complex life originated 2.1 billion years ago.

Scientists have widely accepted that complex life first appeared on Earth around 635 million years ago (during the Ediacaran Period). However, an international team of paleontologists from Cardiff, Toulouse and Poitiers universities and China Nonferrous Metals (Guilin) ​​Geological Mining Co., Ltd. has discovered evidence of a much older ecosystem more than 1.5 billion years ago in the Franceville Basin near Gabon on the Atlantic coast of Central Africa.

Artist's impression of a lobe-like macrofossil that lived in a shallow inland sea formed by the collision of two continents 2.1 billion years ago. Image by Abderrazak El Albani, University of Poitiers.

“The availability of phosphorus in the environment is thought to have been a key factor in the evolution of life on Earth, particularly in the transition from simple single-celled organisms to complex organisms such as animals and plants,” said Dr Ernest Chi-Ful, from Cardiff University.

“We already know that elevated marine phosphorus and oxygen concentrations in seawater are linked to an evolutionary event about 635 million years ago.”

“Our study adds an even older event to the record, going back 2.1 billion years.”

Scientists have widely debated the validity of the fossils of megafauna from the Ediacaran period, the oldest of their kind in the geological record.

But Dr Chi Hulu and his colleagues identified a link between changes in the environment before their emergence and increased nutrients, which may have triggered their evolution.

Geochemical analysis of marine sedimentary rocks dating back 2.1 billion years has shed new light on this unusually large fossil assemblage in the Franceville Basin.

A 2.1 billion year old lobe-like macrofossil from the Franceville Basin. Image by Abderrazak El Albani, University of Poitiers.

“We think that after the Congo and San Francisco cratons collided and sutured together, undersea volcanoes further restricted water in this area and even cut it off from the global oceans, forming a nutrient-rich shallow inland marine sea,” Dr Chi-Hulu said.

“This created a localized environment of abundant cyanobacterial photosynthesis for extended periods, leading to oxygenation of local ocean waters and the generation of large food resources.”

“This would have provided enough energy to fuel the increased body size and more complex behaviors seen in the primitive, simple animal-like life forms found in fossils from this period.”

However, the restricted nature of this body of water, combined with the harsh conditions that existed beyond this environmental boundary for billions of years afterward, likely prevented these enigmatic life forms from colonizing the entire planet.

The study suggests that these observations may indicate a two-stage evolution of complex life on Earth.

Step 1 followed the first significant increase in atmospheric oxygen content 2.1 billion years ago, and step 2 followed a second increase in atmospheric oxygen levels about 1.5 billion years later.

“While the first attempt failed to catch on, the second attempt led to the creation of the diversity of animals seen on Earth today,” Dr Chi Hulu said.

of result Published in the journal Precambrian Studies.

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Ernest Chi-Ful others2024. Hydrothermal seawater eutrophication triggers a localized macrobiological experiment in the 2100 Ma Paleoproterozoic Franceville Subbasin. Precambrian Studies 409: 107453; doi: 10.1016/j.precamres.2024.107453

Source: www.sci.news

TechScape: Is OpenAI’s $5 billion chatbot investment worth it? It depends on your utilization of it | Artificial Intelligence (AI)

What if you build it and no one comes?


It’s fair to say the luster of the AI boom is fading. Skyrocketing valuations are starting to look shaky compared to the massive spending required to keep them going. Over the weekend, tech site The Information reported that OpenAI is An astonishing $5 billion in additional spending is expected More than this year alone:

If our predictions are correct, OpenAI’s recent valuation would be $80bnwill need to raise more capital over the next 12 months or so. Our analysis is based on informed estimates of what OpenAI will spend to operate the ChatGPT chatbot and train future large-scale language models, as well as a “guesstimate” of how much OpenAI will spend on staffing, based on OpenAI’s previous projections and our knowledge of its adoption. Our conclusion shows exactly why so many investors are concerned about the profit prospects of conversational artificial intelligence.

The most pessimistic view is that AI — and especially chatbots, an expensive and competitive sector of an industry that has captured the public’s imagination — isn’t as good as we’ve been told.

This argument suggests that as adoption grows and iteration slows, most people have had a chance to use cutting-edge AI properly and are beginning to realize that it’s great but probably useless. The first time you use ChatGPT, it’s a miracle, but by the 100th time, the flaws are obvious and the magic fades into the background. You decide ChatGPT is bullshit.

In this paper, I argue against the view that ChatGPT and others are lying or hallucinating when they make false claims, and support the position that what they are doing is bullshit. … Since these programs themselves could not care less about the truth, and are designed to generate text that looks true without actually caring about the truth, it seems appropriate to call their output bullshit.

Get them trained




It is estimated that only a handful of jobs will be completely eliminated by AI. Photo: Bim/Getty Images/iStockphoto

I don’t think it’s that bad. But that’s not because the system is perfect. I think the move to AI is a hurdle we’ve got to overcome much earlier. You have to try a chatbot in any meaningful way to even begin to realize it’s bullshit and give up. And judging by the tech industry’s response, that’s starting to become a bigger hurdle. Last Thursday, I reported on how Google is partnering with a network of small businesses and several academy trusts to bring AI into the workplace to enhance, rather than replace, worker capabilities. Debbie Weinstein, managing director of Google UK and Ireland, said:

It’s hard for us to talk about this right now because we don’t know exactly what’s going to happen. What we do know is that the first step is to sit down and talk. [with the partners] And then really understanding the use case. If you have school administrators and students in the classroom, what are the specific tasks that you actually want to perform for these people?

For teachers, this could be a quick email with ideas on how to use Gemini in their lesson plans, formal classroom training, or one-on-one coaching. Various pilot programs will be run with 1,200 participants, with each group having around 100 participants.

One way of looking at this is that it’s just another feel-good investment in the upskilling schemes of big companies. Google in particular has been helping to upskill Brits for years with its digital training scheme, formerly branded as the company’s “Digital Garage”. To put it more cynically, teaching people how to use new technology by teaching them how to use your own tools is good business. Brits of a certain age will vividly remember “IT” or “ICT” classes as thinly veiled instructions on how to use Microsoft Office. People older and younger than me learned some basic computer programming. I learned how to use Microsoft Access.

In this case, it’s something deeper: Google needs to go beyond simply teaching people how to use AI and also run experiments to figure out what exactly to teach them. “This isn’t about a fundamental rethinking of how we understand technology, it’s about the little everyday things that make work a little more productive and a little more enjoyable,” Weinstein says. “Today, we have tools that make work a little easier. Those three minutes you save every time you write an email.

“Our goal is to make sure that everyone can benefit from technology, whether it’s Google technology or other companies’ technology. And I think the general idea of working together with tools that help make your life more efficient is something that everyone can benefit from.”

Ever since ChatGPT came out, the underlying assumption has been that the technology speaks for itself, and the fact that it literally does is a big help to that. But chat interfaces are confusing. Even if you’re dealing with a real human being, it’s still a skill to get the best out of them when you need help, and an even better skill when the only way to communicate with them is through text chat.

AI chatbots are not people. They are so unlike humans that it’s all the more difficult to even think about how they might fit into common work patterns. The pessimistic view of this technology isn’t “what if there wasn’t one there” – there is, of course, a pessimistic view, despite all the hallucinations and nonsense. Rather, it’s a much simpler view: what if most people never bothered to learn how to use them?

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Masbot Gold




Google DeepMind has trained its new AI system to solve problems from the International Mathematical Olympiad. Photo: Pittinan Piyavatin/Alamy

Meanwhile, elsewhere in Google it reads:

Although computers are being built to perform calculations faster than humans, the highest levels of formal mathematics remain the sole domain of humans. But a groundbreaking discovery by researchers at Google DeepMind has brought AI systems closer than ever to beating the best human mathematicians at the field.

Two new systems, called AlphaProof and AlphaGeometry 2, worked together to tackle problems in the International Mathematical Olympiad, a worldwide math competition for middle school students. 1959Each year, the Olympiad consists of six incredibly difficult problems covering subjects such as algebra, geometry and number theory, and winning a gold medal makes you one of the best young mathematicians in the world.

A word of warning: the Google DeepMind system solved “only” four of the six problems, and one of them they solved using a “neurosymbolic” system, which is less AI-like than you might expect. All problems were manually translated into a programming language called Lean, which allows the system to read it as a formal description of the problem without having to parse human-readable text first. (Google DeepMind also tried to use LLM to do this part, but it didn’t work very well.)

But this is still a pretty big step. The International Mathematical Olympiad difficultand AI won the medal. What happens when you win the gold medal? Is there a big difference between being able to solve problems that only the best high school mathematicians could tackle and being able to solve problems that only the best undergraduates, graduate students, and doctors could solve? What changes when a branch of science is automated?

If you’d like to read the full newsletter, sign up to receive TechScape in your inbox every Tuesday.

Source: www.theguardian.com

Microsoft IT outage causes $5.4 billion loss for US Fortune 500 companies following CrowdStrike global outage

According to insurers, a global technology outage caused by a faulty CrowdStrike update is estimated to cost Fortune 500 companies in the United States $5.4 billion. Cybersecurity companies have pledged to take measures to prevent such incidents in the future.

The projected economic losses do not factor in tech giant Microsoft, which experienced widespread system outages during the event.


Banking, healthcare, and major airlines are anticipated to bear the brunt of the impact, as reported by insurance company Parametric. Total insured losses for Fortune 500 companies, excluding Microsoft, are estimated to range between $540 million and $1.08 billion.

The CrowdStrike outage led to the disruption of thousands of flights, hospitals, and payment systems, marking it as the largest IT outage in history. Companies across industries are still struggling to recover from the damages. This incident exposed the fragility of modern technology systems, where a single faulty update can halt operations globally.

CrowdStrike, a Texas-based cybersecurity company worth billions, has seen a 22% drop in its shares since the outage. It has apologized for causing the tech crisis and has released a report detailing the issues with the update.

The root cause of the outage was an update pushed to CrowdStrike’s Falcon platform, a cloud-based service aimed at protecting businesses from cyber threats. The update contained a bug that resulted in 8.5 million Windows machines crashing simultaneously.

CrowdStrike has committed to conducting more thorough testing of its software before updates and implementing staged updates to prevent similar widespread outages in the future. It also plans to provide a more detailed report on the outage’s causes in the upcoming weeks.

As one of the largest cybersecurity companies globally, valued at around $83 billion prior to the outage, CrowdStrike serves many Fortune 1000 companies worldwide. The impact of the failed update was substantial due to its broad reach, underscoring how heavily reliant companies are on similar products for their operations.

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Several companies continue to face challenges in recovering from the outage, with Delta Air Lines still experiencing disruptions after canceling or rescheduling numerous flights. This situation has left frustrated passengers stranded. Panicked Parents Delta Air Lines has launched an investigation into reaching the affected children, and the U.S. Department of Transportation is investigating its handling of the matter.

Source: www.theguardian.com

Wizz, a cybersecurity company, turns down $23 billion acquisition bid from Alphabet Inc., Google’s parent company

Cybersecurity company Wizz has turned down a $23bn (£18bn) takeover offer from Google’s parent Alphabet, making it the largest takeover bid ever for a tech company, and has opted for a stock market listing instead.

Alphabet had been in discussions with Wizz, a company established by graduates of Israel’s cyber-intelligence program, in an effort to catch up with competitors Microsoft and Amazon in the competitive cloud-services market.

Wiz provides a service that scans data on cloud storage platforms like Amazon Web Services and Microsoft Azure for potential security threats.

The New York-based startup, which is financially backed by investors such as Sequoia Capital and Thrive Capital, was last valued at $12 billion.

In an internal email to employees, the company expressed gratitude for the offer but decided to remain committed to its mission of building Wiz. CEO Assaf Rapaport outlined the company’s objectives of reaching $1 billion in annual recurring revenue and going public.

Despite the tempting offer, the company’s trust in its skilled team reaffirmed their decision. The positive response from the market further reinforced their aim to create a platform that is loved by both security and development teams.

As of Tuesday morning, neither Wizz nor Google have released an official statement regarding the end of the acquisition negotiations.

There are concerns that the deal may face regulatory challenges as authorities seek to tighten their control over acquisitions involving major tech companies.

Last month, the US Department of Justice and the Federal Trade Commission agreed to investigate leading players in the AI market, including Microsoft, OpenAI, and Nvidia.

Established in 2020, Wizz was valued at $12 billion in a funding round in May, attracting investments from Andreessen Horowitz, Lightspeed Venture Partners, and Thrive.

Wiz claims to have 40% of the Fortune 100 as clients and boasts an annual recurring revenue of $350 million.

Source: www.theguardian.com

Study reveals last common ancestor lived 4.2 billion years ago

The Last Universal Common Ancestor (LUCA) is a hypothetical common ancestor of all modern cellular life, from single-celled organisms such as bacteria to giant sequoia trees and even to us humans. Our understanding of LUCA therefore has implications for our understanding of the early evolution of life on Earth.

Probabilistic inference of metabolic networks for modern organisms present in LUCA. Image courtesy of Moody others., doi: 10.1038/s41559-024-02461-1.

LUCA is a node on the tree of life from which the basic prokaryotic domains (Archaea and Bacteria) branch off.

Modern life evolved from LUCA from a variety of different sources: the same amino acids used to build proteins in all cellular organisms, a shared energy currency (ATP), the presence of cellular machinery such as ribosomes involved in creating proteins from information stored in DNA, and even the fact that all cellular organisms use DNA itself as a way to store information.

In the new study, University of Bristol scientist Edmund Moody and his colleagues compared all the genes in the genomes of modern species and counted the mutations that had occurred in the sequences over time since a common ancestor called LUCA.

The time when some species split off is known from the fossil record, and the team used a genetic equivalent of a familiar equation used in physics to calculate speed to determine when LUCA existed, arriving at 4.2 billion years ago – just 400 million years after Earth and the solar system formed.

“The evolutionary history of genes is complicated by the exchange of genes between lineages,” Dr Moody said.

“Reconciling the evolutionary history of genes with species lineages requires the use of complex evolutionary models.”

“We didn't expect LUCA to be so old, within just a few hundred million years of Earth's formation,” said Dr Sandra Alvarez-Carretero, also from the University of Bristol.

“But our findings are consistent with modern views of the habitability of early Earth.”

The study authors also traced the lineage of life back to LUCA and modeled the physiological traits of modern species to elucidate LUCA's biology.

“One of the real advantages here is that we applied the gene tree and species tree reconciliation approach to a highly diverse dataset representing the major domains of life: Archaea and Bacteria,” said Dr Tom Williams from the University of Bristol.

“This allows us to make statements with some confidence about how LUCA lived and to assess that level of confidence.”

“Our study shows that LUCA was a complex organism not too different from modern prokaryotes, but what's really interesting is that LUCA clearly had an early immune system, indicating that by 4.2 billion years ago our ancestors were in an arms race with viruses,” said Professor Davide Pisani, from the University of Bristol.

“LUCA clearly used and transformed its environment, but it is unlikely to have lived alone,” said researcher Dr Tim Lenton, from the University of Exeter.

“That waste would then serve as food for other microorganisms, such as methanogens, helping to create a recycling ecosystem.”

“The insights and methods provided by this study will also inform future studies looking in more detail at the subsequent evolution of prokaryotes in the context of Earth's history, including the less-studied archaea and their methanogens,” said Professor Anja Spang, researcher at the Royal Netherlands Institute for Marine Research.

“Our study brings together data and methods from multiple disciplines, revealing insights into the early Earth and life that could not be achieved by any single discipline alone,” said Professor Philip Donoghue, from the University of Bristol.

“It also shows how quickly ecosystems were established on the early Earth.”

“This suggests that life may thrive in an Earth-like biosphere somewhere in the universe.”

This study paper Published in the journal today Natural Ecology and Evolution.

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ERR Moody othersThe nature of the last universal common ancestor and its impact on the early Earth system. Nat Ecol EvolPublished online July 12, 2024, doi: 10.1038/s41559-024-02461-1

This article is a version of a press release provided by the University of Bristol.

Source: www.sci.news

Tesla asserts Elon Musk was awarded a $56 billion compensation package even though a judge found it to be invalid.

According to court documents released on Friday, Tesla Inc. states that Elon Musk has emerged victorious in a legal battle over his $56 billion compensation package. This victory comes after shareholders voted in favor of the pay, despite a judge previously setting it aside earlier this year.

The company’s submission comes following Tesla shareholders’ approval of his stock option package for 2018, conducted two weeks ago. This decision was made after a Delaware judge voided the compensation in January due to alleged mismanagement by Musk during negotiations and misleading shareholders about critical details.

The ongoing lawsuit has strained Musk’s relationship with Tesla, as the company grapples with declining sales and mounting competition. Musk has hinted at developing products outside of Tesla if he fails to secure a larger ownership stake.

In its proposal, Tesla has outlined to Delaware Chancery Court Judge Katherine McCormick how the final order should be drafted to implement her January ruling. The company argues that the order should declare “judgment is entered in favor of the defendants.”

Shareholders’ lawyers are urging the judge to uphold the previous ruling that invalidated Musk’s compensation package. They are seeking a directive for Tesla to issue billions of dollars in Tesla stock to cover legal expenses.

Tesla has suggested a fair fee of up to $13.6 million.

McCormick has instructed both parties to prepare briefs discussing the impact of the shareholder vote on the case and to schedule oral arguments on the matter in late July or early August.

Oral arguments on costs are set for July 8, with a decision likely to be reached after several weeks. Even if the January ruling remains unchanged, McCormick may acknowledge that the shareholder vote indicates little merit in winning the case, as Tesla shareholders appear to desire substantial compensation, which could undermine the plaintiffs’ attorneys’ fee claim based on the value they have provided by overturning the compensation packages.

Source: www.theguardian.com

Elon Musk’s $45 Billion Compensation Package Approved by Tesla Shareholders

Tesla shareholders have given their approval to a contentious referendum regarding CEO Elon Musk’s leadership, resulting in an agreement to pay him $45bn (£35.3bn).

The results, which were released on Thursday, reflect a struggle for the billionaire tycoon to retain the largest compensation package ever awarded to an executive at a publicly traded U.S. company.

“First of all, I want to say I love you guys so much!” said Musk, expressing his elation as he took the stage after the vote.


The vote followed a ruling by a Delaware judge in January that invalidated a previous payment to Musk, which was then valued at about $56bn (£439m), citing lack of board independence from Musk’s influence and an unlawful process in reaching the amount.

The outcome is seen as a win for Musk and the Tesla board, who actively lobbied shareholders to support the deal. It could potentially challenge the judge’s decision to nullify the payment and aid in demonstrating that shareholders were adequately informed about the payment and directors’ relationships with Musk prior to voting.

Tesla’s board cautioned that Musk may sever ties with the company if the package was not approved, but Musk asserted he had substantial backing from investors.

Despite opposition from major shareholders like Norway’s sovereign wealth fund and the California State Teachers Retirement System, as well as proxy advisory firms Glass Lewis and Institutional Shareholder Services, the vote does not automatically guarantee the release of the funds, and further legal debates are expected.

The vote may trigger additional litigation that could prolong legal proceedings, and the approval of relocating Tesla’s legal headquarters from Delaware to Texas could complicate the matter further.

Tesla initially introduced Musk’s compensation package in 2017, which included stock options based on meeting specific company goals. The package was approved by shareholders in 2018 but faced legal challenges alleging board deception and unfairness.

Judge Katherine McCormick of the Delaware Chancery Court criticized Tesla’s board process for determining Musk’s compensation, highlighting conflicts of interest and close relationships with Musk’s associates. Despite this, the board aims to challenge Judge McCormick’s ruling.

Source: www.theguardian.com

Bankrupt Crypto Firm TerraForm Labs Settles with US for $4.47 Billion

TerraForm Labs has agreed to a $4.47 billion civil settlement with the U.S. Securities and Exchange Commission. They were found liable by a jury for misleading cryptocurrency investors who suffered losses of an estimated $40 billion when their TerraUSD and Luna tokens crashed in 2022, causing a widespread downturn in the cryptocurrency industry.

A final sentence against Terraform and its founder Do Kwon was filed in Manhattan federal court on Wednesday. The sentence is still pending approval from U.S. District Judge Jed Rakoff, who presided over the trial that concluded on April 5.

TerraForm’s judgment includes $4.05 billion in disgorgement and interest, as well as a civil penalty of $420 million. Due to TerraForm’s bankruptcy filing in January, it is unlikely that most of this amount will be paid and will be treated as an unsecured claim in the ongoing Chapter 11 liquidation process.

The total judgment amounts to $4.55 billion, which includes an $80 million civil penalty against Kwon. Kwon is also required to agree to a ban from cryptocurrency transactions and transfer $204.3 million to TerraForm’s bankruptcy estate.

The SEC stated in a court filing that, “If entered, this judgment would ensure maximum recovery for harmed investors and permanently shut down TerraForm. Accordingly, the proposed judgment is fair, reasonable, and in the public interest.”

Both Terraform and Kwon have agreed to the sentence. No immediate comments were provided by the men’s lawyers. Kwon was previously found guilty of fraud in an early April civil lawsuit filed in Manhattan.

The SEC alleged that TerraForm and Kwon misled investors regarding the stability of TerraUSD, which was meant to maintain a constant value of $1. They were also accused of falsely claiming that TerraForm’s blockchain was utilized in a popular mobile payment application in South Korea.

Luna, a more traditional token created by Kwon and closely linked to TerraUSD, plummeted in May 2022 when TerraUSD failed to uphold its peg to the dollar.

Kwon has been detained in Montenegro since March 2023, with the United States and South Korea seeking his extradition for criminal prosecution, although he has not yet appeared in court. Kwon maintains his innocence.

Source: www.theguardian.com

Elon Musk Confirms Tesla Shareholders to Vote on $56 Billion Compensation Package

Tesla shareholders are set to approve Elon Musk’s $56 billion remuneration package by a significant margin before the company’s important annual general meeting later today. The compensation package, the largest ever granted to a CEO of a U.S. company, will be subject to an investor vote after being previously rejected by a U.S. court this year. Shareholders will also vote on Musk’s proposal to relocate Tesla’s legal base to Texas.

Several investors, including Norway’s sovereign wealth fund and the California State Teachers Retirement System, have indicated their intent to oppose the compensation package. Proxy advisory firms Glass Lewis and Institutional Shareholder Services have also advised shareholders to reject the pay.

On the eve of the meeting, Musk suggested on X (formerly Twitter) that investors overwhelmingly supported both the compensation package and the Texas relocation: “Both Tesla shareholder resolutions have now passed by large margins! Thank you for your support!!”

The results will be disclosed at Tesla’s headquarters in Texas at 4:30pm ET (9:30pm UK time).

Even if the remuneration package is approved, Musk may encounter further obstacles, including potential litigation. Legal experts doubt that the Delaware court that rejected the initial package would accept a new, nonbinding vote to reinstate it.

Originally approved by Tesla’s board in 2018, the compensation has faced legal challenges from shareholders. Judge Kathleen McCormick of Delaware raised concerns about the size and necessity of the package in her January ruling.

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In her ruling, McCormick questioned the necessity of the compensation plan, stating, “Perhaps swayed by the ‘all-positive’ rhetoric or enthralled by Musk’s superstardom, the board never asked the $55.8 billion question: Was this plan truly necessary for Tesla to retain Musk and achieve its goals?”

Source: www.theguardian.com

Compensation Claims for $32 billion Over Russia’s Carbon Emissions During Ukraine War

A building damaged by a drone strike in Kiev in October 2022

Roman Fritzina/Associated Press/Alamy

A group of climate experts estimates that the first two years of Russia's war in Ukraine will result in greenhouse gas emissions equivalent to about 175 million tonnes of carbon dioxide.

The extra warming caused by these emissions will lead to extreme weather events around the world, with impacts estimated at $32 billion.

Ukraine intends to add these climate-related costs to the list of damages for which Russia is responsible and for which it seeks compensation.

“This will be an important pillar in the compensation case we are building against Russia,” Ukrainian Minister of Environmental Protection and Natural Resources Ruslan Strylets said in a statement.

“These are the costs to economies and societies caused by extreme weather events due to emissions-driven climate change,” said Leonard de Klerk, a climate businessman and founder of the War Greenhouse Gas Accounting Initiative.

The group today Fourth evaluation The report estimated the impact of the war from February 2022 to February 2024. It found that rebuilding bombed-out buildings, roads and other infrastructure was the biggest source of emissions, accounting for almost a third of the 175 million tonnes – a figure that also includes reconstruction that has yet to take place.

The remaining third is a direct result of the war, with fuel use accounting for the largest proportion.

About 14% of the total is due to passenger airlines having to reroute flights to avoid Russia and Ukraine. For example, a flight from Tokyo to London now travels over Canada instead of Russia, increasing flight times from 11 to 15 hours.

About 13 percent is due to an increase in wildfires recorded on satellite imagery, which is due not only to weapons-fired fires but also an end to fire management in occupied territories, the assessment said.

In most cases, there is a great deal of uncertainty around the figures as there are no official figures to rely on, and instead the group must rely on open source assessments and figures from past conflicts.

There's also the issue of how far to go in assessing the cascading effects of war: “We try to be as comprehensive as possible,” de Klerk says, “but at the same time, there are limitations. Some effects are too remote or too hard to quantify.”

Estimating how much damage additional emissions will cause (known as the social cost of carbon) is another tricky area: “The science of trying to put a monetary value on future damages is still developing,” says de Klerk.

The estimated figure of $32 billion Based on 2022 research The social cost of carbon is about $185 per tonne of CO2.

If this amount, which is growing every day, were to be paid, De Klerk thinks that one part should be sent to Ukraine to be used for measures such as reforestation and helping to capture some of the carbon, while the other part should go to the countries most affected by global warming, probably through the existing system. Green Climate FundBut where that money will go is a political decision that has yet to be resolved.

Low-income and small island nations have fought for decades to establish the principle that high-income countries with large greenhouse gas emissions should compensate them for loss and damage caused by their emissions. A loss and damage fund was finally established last year as part of an international climate agreement.

topic:

Source: www.newscientist.com