Stellantis and Samsung to get $7.54 billion federal loan for two EV battery factories Kent Nishimura / Los Angeles Times via Getty ImagesThe Department of Energy preliminarily approved another loan to help fund the construction of electric vehicle battery factories in the US. This time, a joint venture between Stellantis and Samsung SDI will receive $7.54 billion to build two EV battery plants in Kokomo, Indiana. The project is …

Elon Musk Loses His $56 Billion Pay Pack Yet Again Good morning! It’s Tuesday, December 3, 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…

Microsoft faces £1 billion lawsuit in UK for allegedly overcharging rival cloud firms’ customers Microsoft was accused of unfairly overcharging customers of rival cloud companies including Amazon, Google and Alibaba Cloud in a U.K. lawsuit filed Tuesday.

Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated Elon Musk’s pay package granted in 2018 was the largest compensation plan in U.S. history for a public company executive.

Elon Musk’s $56 billion pay package gets rejected — again Image: Cath Virginia / The Verge, Getty ImagesTesla CEO Elon Musk’s $56 billion pay package was struck down once again. In a ruling on Monday, Delaware Chancery Court Judge Kathaleen St. J. McCormick upheld her decision to block the compensation plan over concerns about conflicts of interest following its approval in 2018. After warning sharehol…

Near-Bankrupt KTM Owes $3 Billion, “Pauses” MotoGP Program Austrian motorcycle giant and maker of the X-Bow sports car KTM is on the verge of bankruptcy and will begin a “self-administration” restructuring process to avoid dissolution. A big part of the company’s big money-saving efforts will see the MotoGP effort on the chopping block. KTM, which also owns motorcycle… Read more…

Elon Musk’s $50 Billion Tesla Pay Can’t Be Reinstated, Delaware Judge Rules The judge said she would not reverse her decision to strike down the compensation package after Tesla shareholders approved Mr. Musk’s pay a second time.

Black Friday ecommerce sales reach $10.8 billion https://www.digitalcommerce360.com/article/black-friday-ecommerce-sales/ submitted by /u/EditingTime

OpenAI gets new $1.5 billion investment from SoftBank, allowing employees to sell shares in a tender offer OpenAI on Tuesday introduced a new $1.5 billion tender offer, a continuation of its recent $6.6 billion funding round, led by SoftBank, CNBC has learned.

Databricks closes in on multibillion funding round at $55 billion valuation to help employees cash out Databricks is raising at least $5 billion in cash — though it could raise as much as $8 billion — pegging its new valuation at $55 billion, sources say.

Rivian gets $6.6 billion government loan to build its EV factory in Georgia Brian Cassella/Chicago Tribune/Tribune News Service via Getty ImagesThe US Department of Energy will loan Rivian $6.6 billion to build an electric vehicle factory in Georgia, as Democrats scramble to finalize their climate agenda before Donald Trump takes office. Rivian, lacking the funds to start the construction process, put its Georgia facto…

EV Projects to Get $13 Billion in Federal Loans The financing for a factory in Georgia is part of a last-minute effort to establish climate policies before President-elect Donald J. Trump takes office.

Intel and Commerce Department close to finalizing roughly $8 billion CHIPS Act grant, source says The struggling chipmaker has cut jobs and pared back expansion plans as it grapples with its worst downturn ever, making the CHIPS Act money a welcome boost.

N.Y.C. Housing Plan Moves Forward With an Unexpected $5 Billion Boost A City Council committee passed a major proposal that would ease restrictions on housing growth in New York. The full Council is likely to approve it next month.

Business spending on AI surged 500% this year to $13.8 billion, says Menlo Ventures Enterprise spending on generative AI surged 500% this year, hitting $13.8 billion — up from just $2.3 billion in 2023, according to a new Menlo Ventures report.

Qualcomm says it expects $4 billion in PC chip sales by 2029, as company gets traction beyond smartphones Qualcomm said on Tuesday that it expects its push into new markets to generate an additional $22 billion per year by 2029.

How Kamala Harris Burned Through $1.5 Billion in 15 Weeks Her frenzied spending has led to second-guessing among some Democrats and questions as she has pressed for more cash since the election.

Elon Musk’s xAI raising up to $6 billion to purchase 100,000 Nvidia chips for Memphis data center Elon Musk’s artificial intelligence company xAI is raising up to $6 billion at a $50 billion valuation, according to CNBC’s David Faber.

‘The Lincoln Lawyer’ Season 3 Tops Nielsen’s Streaming List With 1.6 Billion Minutes Viewed submitted by /u/indig0sixalpha

The British Museum Gets a Giant Gift: $1.27 Billion of Chinese Ceramics Sir Percival David’s collection, amassed in the early 1900s, includes prized vases and wine cups. “You simply couldn’t build up a collection like this today,” one expert said.