Business

The President’s annual disclosure noted that companies owned by Trump and his family received more than $800 million from the WLFI token and $635 million in royalties from Trump memecoins, report Reuters, WSJ, and CNBC.

Before plans to spin up its own prediction market app, Meta explored acquiring Kalshi, NPR reports. Meta is now reportedly working on an app known as “Arena” internally, which would allow users to bet with points rather than real money, as Kalshi and Polymarket do. If an acquisition had happened, it wouldn’t be the first (or second, or third) time Meta piggybacked on what was trendy.

After more than a year and a half in court, satirical news site The Onion is rebooting Alex Jones’ InfoWars — even as the conspiracy channel hangs in legal limbo. Comedian and writer Tim Heidecker has been tapped as creative director, and he came on the show to share his vision for the platform. Also mentioned: peptides, The Beatles, and the state of Tim’s vocal chords. Enjoy!

Forget for a moment that it’s morally disgusting to let people bet on wildfires; people have already spent $1.2 million doing it. The real question is when someone will commit financially-motivated arson in order to win their bet — because unlike other major environmental events, massive fires are easy to create.

The Play design tool for Mac and iPhone won an Apple Design Award for innovation last year, and could be used to prototype iPhone app interfaces before it was pulled from the App Store. Apple doesn’t specifically mention how it’ll use Play, but its IP could be used to improve Xcode developer tools.

SpaceX bonds are creating losses for the fast-money types who piled in at the offering. “Bond types either aren’t sure that SpaceX will hang on to its investment-grade credit ratings, or will only get involved if they get paid a fat risk premium for doing so,” the Financial Times explains. SpaceX stock is, as of this writing, trading below its IPO price. Gee, if only someone had pointed out that this company is a stinker.

You may remember the period when Zuck tried to pretend he was Very Manly (MMA fighting, Joe Rogan appearance). He seems to be walking that back now, like he realized he overstepped with that horrible attempt at streetwear. Gentlemen, if you want to look like a grown-ass man, the kind who is competent and in charge? Make a mood board of Cary Grant outfits. (If you want to go more contemporary, Colman Domingo.) Fashion is only trivial if you’re stupid — your style expresses your persona before you say a single word, and Zuck’s is still “wannabe.”

President and COO Gwynne Shotwell has apparently told investors that SpaceX plans to launch a new terrestrial Starlink service that would sell mobile contracts directly to individuals in the US — a threat that could extract better revenue-sharing deals from its current telecom partners. Analysts think a T-Mobile acquisition makes sense to accelerate the move and solve SpaceX’s spectrum deficit issue.

Malik, who founded the tech blog GigaOm in 2001 before eventually transitioning into venture capital, died on Wednesday at Stanford Hospital “after a long health journey with his heart,” said Om’s family in a post on his website.

You might remember I took a break from Decoder last year — we had a baby, so I took some leave. In my place, we had an excellent slate of guest hosts, and we’ve been working hard to bring you those episodes in full video since we launched our official Decoder YouTube channel.

Neil Vogel, CEO of the publisher formerly known as Dotdash Meredith, brought up his company’s AI licensing deals with Meta, OpenAI, and Microsoft in an Axios interview this week. He noted that while it blocks other unlicensed AI crawlers, it can’t block Google’s since it’s the same one used for Google Search.

The company — which provides “Digit” humanoid robots to customers like Amazon and Toyota — is set to merge with acquisition company Churchill Capital Corp and list under the ticker symbol AGLT. Agility CEO Peggy Johnson says that going public will give the company an edge over its competitors “seeking to fill the labor gap.”

That’s a workforce reduction of about 13 percent over the last 12 months, according to a disclosure filed Monday. And Oracle is hardly alone in at least partially attributing the cuts to AI advancements:

The open-source AI startup has a deal through 2029, similar to Anthropic and Google, to rent compute capacity from SpaceX’s Colossus 2 data center for $150 million per month (up to $6.3 billion), reports the Wall Street Journal.

Chipmaker SK Hynix, which supplies high-bandwidth memory (HBM) chips to Nvidia and Google, has overtaken Samsung, with Reuters reporting that its market capitalization has now hit $1.35 trillion. Samsung had held the top spot since 2000, prior to the AI boom.

The Roku Netflix Player was originally a streaming box that then-Netflix CEO Reed Hastings decided not to build.

Like buying Roku, for example.

A month after a jury dismissed Elon’s claims in the Musk v. Altman case, US District Judge Rita Lin dismissed an xAI lawsuit accusing OpenAI of stealing trade secrets and poaching employees. This time, it was dismissed with prejudice, meaning it can’t be refiled, unlike when she dismissed the case in February.

While SpaceX plans satellite-based AI servers, Bloomberg reports it ran into trouble trying to develop and run Grok AI in Memphis, citing unnamed sources. They claim that deals renting capacity to Anthropic ($15 billion annually) and Google ($920 million per month) happened following hardware variation and lag issues:

With the debut of SPCX, Elon Musk’s 4.8 billion shares are enough to push his wealth beyond $1.1 trillion, as noted on Forbes’ “definitive, minute-by-minute guide to every billionaire around the globe.”

As reported by CNBC, the New York Times, and others, trading commenced at a price 11 percent above the $135 IPO price, but lower than the $175 shown in some earlier indications. It’s already spiked as high as $167, before falling back to $155. As long as the share price remains above $138, that is enough to make Elon Musk the world’s first trillionaire.

That price puts SpaceX at a market valuation of around $1.77 trillion ahead of its record-breaking stock market debut on Friday. CNBC reports that SpaceX may allocate 20 percent of shares to retail investors, down from the previous expectation of 30 percent.

WMG has agreed to buy Sureel AI — an attribution company that uses “AI DNA” to track how artists’ content is used to train generative AI models — for an undisclosed sum. The startup will continue to operate as a standalone platform.

The Wall Street Journal reports that it’s Kalshi’s latest effort to address insider trading:

“What we’re showing here is kind of a draft version of the version one of the SpaceX AI satellite,” said Elon Musk at the reveal on Monday. “It’s actually much simpler than a Starlink satellite.” The release of renders and specs for the space-based AI1 data center is very much timed to lend credence to the SpaceX IPO, which is set to begin trading on Friday.

If you’ve ever wondered what the hell is going on with Bending Spoons’ “buy, do layoffs, ????” strategy, perhaps the statement it filed Monday with the SEC for a public listing will explain.

Hoffman, who joined Microsoft’s board in 2017, won’t stand for reelection at the company’s next shareholder meeting, as reported earlier by Bloomberg.