VinFast Only Needs Another $3.5 Billion To Make Its EVs A Success Good morning! It’s Wednesday, November 13, 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…

VW and Rivian officially kick off $5.8 billion joint venture, announce leadership Image: RivianVolkswagen and Rivian have crossed all their T’s and dotted all their I’s in their new $5.8 billion joint venture, which officially kicks off its work on November 13th, the companies announced today. Last June, VW said it would invest $5 billion in Rivian as part of a new joint venture that’s focused on developing a new electrical …

FTX sues crypto exchange Binance and its former CEO Zhao for $1.8 billion The litigation marks the latest escalation of tensions between two of the biggest names in crypto, after the meteoric collapse of FTX rocked the market.

Elon Musk is $70 billion richer since Trump victory due to Tesla stock surge Tesla’s 39% surge since Donald Trump’s election victory last week has lifted Elon Musk’s net worth by about $70 billion.

Humpy the Whale Cost FTX, Alameda $1 Billion in Losses, Lawsuit Alleges The suit also links him to organized crime in Eastern Europe and terrorist groups.

New study: Over 1 billion young people at risk of hearing loss due to unsafe music exposure submitted by /u/Edm_vanhalen1981

Coinbase CEO Brian Armstrong is more than $2 billion richer after post-election stock pop Coinbase’s success in helping its candidates win their elections on Tuesday sent the company’s stock price soaring, lifting CEO Brian Armstrong’s net worth.

Jeff Bezos and OpenAI invest in robot startup Physical Intelligence at $2.4 billion valuation Amazon’s Jeff Bezos and OpenAI invested in Physical Intelligence, a robot startup that raised $400 million at a $2.4 billion post-money valuation.

Apple sinks $1.1 billion into Globalstar’s satellite network, takes ownership stake If you had any idea that satellite connectivity isn’t a key part of Apple’s strategy, well, the company’s satellite partner Globalstar has disclosed changes to its deal with Apple, including a new influx of $1.1 billion from Apple tied to capital improvements, and $400 million in equity, which gives Apple a 20-percent stake in the company.…

Apple’s services unit is now a $100 billion a year juggernaut after ‘phenomenal’ growth Apple’s services business has become a critical part of the company’s appeal to Wall Street over the past decade.

Elon Musk’s xAI in Funding Talks That Could Value Company at $40 Billion The financing efforts follow that of rival OpenAI, which recently closed a funding round that valued it at $157 billion.

Intel Posts $16.6 Billion Quarterly Loss, Its Biggest Ever The Silicon Valley chip maker has struggled to turn around its fortunes after missing opportunities and poor execution.

Apple sales climb 6%, pays $10.2 billion European tax charge Apple reported earnings after the bell. Here are the results.

VinFast Gets $1 Billion Lifeline From Emirati Company VinFast is getting a huge cash infusion from an investment group led by Emirates Driving Co., a UAE-based driver education company, to the tune of at least $1 billion. The company is also set to provide VinFast with its expertise in driver training, road safety and the development of an electric vehicle ecosystem,… Read more…

Super Micro’s $50 billion stock collapse underscores risk of AI hype Since being added to the S&P 500 in March, Super Micro has lost about two-thirds of its value and now faces the risk of Nasdaq delisting.

Michael Jackson’s ‘Smooth Criminal’ Joins YouTube Billion Views Club submitted by /u/cmaia1503

Meta’s Reality Labs posts $4.4 billion loss in third quarter Meta’s Reality Labs unit, which develops augmented and virtual reality technologies, logged an operating loss of $4.4 billion in the third quarter.

UEFA pledges $1 billion to grow women’s soccer UEFA pledged Wednesday to steer €1 billion ($1.08 billion) toward all levels of women’s soccer over the next six years as part of a comprehensive strategy to grow the game in Europe.

Sam Altman’s Reddit stake now worth over $1 billion after post-earnings pop OpenAI CEO Sam Altman’s stake in Reddit has ballooned to more than $1 billion in value, as of after-hours trading on Tuesday.

Monsters Surpasses 2 Billion Viewing Minutes in 2nd Week Atop Nielsen Streaming Charts; The Penguin Still Missing? submitted by /u/automaticzen