Activist Elliott takes $2.5 billion stake in Texas Instruments, urges company to improve free cash flow Elliott, the $65 billion hedge fund best known for its shareholder activism, has made a $2.5 billion investment in Texas Instruments.

Tesla Shareholders Urged To Reject Elon Musk’s $56 Billion Pay Good morning! It’s Tuesday, May 28, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. Read more…

T-Mobile signs a $4.4 billion deal to buy most of US Cellular Illustration by Alex Castro / The VergeT-Mobile has agreed to purchase parts of regional wireless carrier US Cellular in a $4.4 billion deal that includes US Cellular’s wireless customers, stores, and approximately 30 percent of spectrum assets. US Cellular will retain ownership of its towers and “approximately 70 percent of its spectrum portfol…

Elon Musk’s xAI raises $6 billion to fund its race against ChatGPT and all the rest The VergeElon Musk founded xAI last summer, and today it announced raising $6 billion in funding, saying it will help bring the startup’s “first products to market, build advanced infrastructure, and accelerate the research and development of future technologies.” So far, xAI has launched Grok, a supposedly edgier version of OpenAI’s ChatGPT av…

Elon Musk’s xAI Raises $6 Billion Mr. Musk, who founded xAI last year, has said the business “still has a lot of catching up to do” as it looks to compete with well-funded companies like OpenAI.

Nvidia CEO Jensen Huang’s net worth swells from $3 billion to $90 billion in five years With Nvidia’s stock price rising over 9% on Thursday to close at almost $1,038, the value of CEO Jensen Huang’s stake rose by $7.7 billion.

FTC Sues to Block $8.5 Billion Tapestry-Capri Merger The deal between Coach’s owner, Tapestry, and the parent of Michael Kors, Capri Holdings, is intended to create a U.S. luxury group to compete with the European industry giants.

Rednex’s ‘Cotton Eye Joe’ smashes Youtube record – 3 billion views in 26 days submitted by /u/lobas

India’s Viacom18 Revenues Soar to $1.3 Billion Led by Sports and Digital Businesses submitted by /u/AggressiveDrinker

Tesla Creates Website To Convince Shareholders To Make Elon Musk $55 Billion Richer Elon Musk is filthy, stinking rich. Despite Tesla’s current troubles resulting in his net worth tumbling a few billion, he’s still the third richest person on the planet. Apparently that wealth isn’t enough for him or Tesla. Now, the company actually created a website to convince shareholders that their part-time CEO… Read more…

Micron Will Receive $6.1 Billion to Build Semiconductor Plants The grant to the memory chipmaker is the latest federal award aimed at boosting U.S. chip manufacturing.

Tesla Seeks to Revive Musk’s $47 Billion Pay Deal With New Shareholder Vote The company’s directors are asking shareholders to again approve the multibillion-dollar compensation plan and to move the company’s registration to Texas, from Delaware.

Andreessen Horowitz raises $7.2 billion, a sign that tech startup market may be bouncing back a16z raised $7 billion for growth and artificial intelligence investments, among other things, but has not announced any fundraising for its crypto arm.

Microsoft invests $1.5 billion in AI firm G42 which faces U.S. scrutiny for China ties Microsoft will invest $1.5 billion into G42, an artificial intelligence firm based in the United Arab Emirates.

U.S. Awards Samsung $6.4 Billion to Bolster Semiconductor Production The federal grants will support Samsung’s new chip manufacturing hub in Taylor, Texas, along with the expansion of an existing site in Austin.

Measuring the Universe With a 14 Billion Light-Year Ruler

Binance has matured past cultural issues, CEO says, after $4.3 billion U.S. DOJ settlement Binance’s new CEO Richard Teng said the company has moved past cultural issues after the company was hit with a $4.3 billion fine to settle charges from the U.S. Justice Department.

Apple Chipmaker TSMC to Receive $6.6 Billion Grant to Step Up Production in the U.S. The United States Commerce Department today announced a significant financial commitment to Apple chip supplier TSMC to make more chips in the U.S. (via Bloomberg). The White House shared a statement explaining that the U.S. Commerce Department will allocate a $6.6 billion subsidy to TSMC for the advancement of semiconductor production in Phoen…

TSMC Will Receive $6.6 Billion to Bolster U.S. Chip Manufacturing Taiwan Semiconductor Manufacturing Company plans to build an additional factory and upgrade another planned facility in Phoenix with the federal grants.

Ripple to launch U.S. dollar stablecoin, taking on a $150 billion market dominated by Tether, Circle Blockchain firm Ripple said it’s launching a U.S. dollar stablecoin, marking an entry into the $150 billion stablecoin market.