Author: Daniel snow

Sam Altman’s $6.4 billion bet on Jony Ive Zuckerberg-like qualities

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Sam Altman, chief executive officer of OpenAI, during a fireside chat organized by Softbank Ventures Asia in Seoul, South Korea, on Friday, June 9, 2023. SeongJoon Cho | Bloomberg | Getty ImagesSam Altman’s $6.4 billion bet on Jony Ive is a callback to strategy employed by another Silicon Valley tech billionaire: Meta CEO Mark Zuckerberg.OpenAI on Wednesday said it’s buying Ive’s nascent devices startup io in what is by far the largest acquisition in the artificial intelligence company’s 10-year history. It’s a decidedly big bet on a secretive hardware company co-founded by Ive, who famously designed Apple’s iconic iPhone, iPod and…

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House GOP tax bill passes ‘SALT’ deduction cap of $40,000

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House Ways and Means Committee Chairman Jason Smith (R-MO) holds a news conference before a markup hearing in the Longworth House Building on Capitol Hill on May 13, 2025 in Washington, DC.Chip Somodevilla | Getty Images News | Getty ImagesHouse lawmakers on Thursday morning passed changes for the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump’s tax package.Enacted via the Tax Cuts and Jobs Act, or TCJA, of 2017, there’s currently a $10,000 limit on the SALT deduction, and raising that cap has been a priority for certain House lawmakers in high-tax…

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Hong Kong passes stablecoin bill as more governments recognize the digital asset

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The Tether (USDT) stablecoin logo.Costfoto | Nurphoto | Getty ImagesHong Kong passed a stablecoin bill on Wednesday to expand its cryptocurrency licensing regime as more governments recognize the digital asset.Unlike volatile digital assets like bitcoin, the value of stablecoins is tied to a real-world asset like fiat currencies or commodities like gold.The new law — focused on fiat-referenced stablecoins — will require stablecoin issuers to obtain a license from the Hong Kong Monetary Authority and comply with a range of requirements, including proper management of asset reserves and segregation of client assets.It will “enhance Hong Kong’s existing regulatory framework on…

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Trump tax bill passes the House, advances to Senate

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WASHINGTON — Republicans in the U.S. House of Representatives came together early Thursday to pass President Donald Trump’s “big, beautiful” tax bill out of the chamber on a narrow vote.Every Democrat on the floor voted no, as did Republican Reps. Warren Davidson of Ohio and Thomas Massie of Kentucky. Rep. Andy Harris, R-Md., who chairs the conservative House Freedom Caucus, voted present.The passage was a major victory for Republican leaders, who spent the past two months crafting the bill and the past two days making last-minute changes to it. The more than 1,000 pages of legislation and 42 pages of amendments…

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Here’s how fusion energy could power your home or an AI data center

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The artificial intelligence boom has sent energy demand soaring. Some of the supercomputers sucking up all that power are helping to find new energy sources.Fusion energy is the process of forcing two hydrogen atoms to combine and form one helium atom, which releases huge amounts of power. It uses a stellarator, a type of fusion reactor invented in the 1950’s that produces heat. Until now, the technology was too difficult to deploy commercially.But this old concept has brand new potential. Type One Energy, a startup based in Tennessee, claims to have proven that fusion energy will be able to produce electricity…

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