In this past week’s key developments, several major events have captured attention. Elon Musk announced that xAI has acquired X in an all-stock transaction. This deal values xAI at $80 billion and X at $33 billion, with Musk stating the intended integration of data, models, compute, distribution, and talent.
Additionally, the scrutiny of 11x, a company backed by a16z and Benchmark, has revealed alleged financial discrepancies. More than 20 sources, including investors and employees, indicated that the company reportedly misrepresented growth and customer churn figures.
In corporate news, a leaked message from Block CEO Jack Dorsey disclosed plans to lay off 931 employees, accounting for 8% of the workforce, due to organizational restructuring. Dorsey clarified that the layoffs were not financially motivated nor intended to replace workers with artificial intelligence.
Meanwhile, the White House confirmed a pardon by President Trump for Trevor Milton, founder of the insolvent hydrogen trucking startup Nikola, who had been convicted of fraud.
Concerning technological developments, reports emerged of China’s advanced AI censorship system, designed to enforce existing prohibitions, including those related to Tiananmen Square.
Another noteworthy event was Rivian’s decision to spin out its skunkworks project into a new independent company named Also, backed by $105 million from Eclipse Ventures.
As Apple announced the dates for the 2025 Worldwide Developers Conference, expectations have been set for significant software updates across its devices, with particular emphasis on the anticipated overhaul introduced by iOS 19.
Financial difficulties hit 23andMe, which filed for bankruptcy protection as its CEO, Anne Wojcicki, announced her resignation and intent to become an independent bidder for the company.
In political ventures, Kat Abughazaleh, laid off from Media Matters and previously targeted by Elon Musk, announced a congressional candidacy focused on transparency.
In entertainment, the Lumon Terminal Pro, featured in the show “Severance,” appeared on Apple’s website, generating buzz among fans.
Reports indicated that SpaceX might have facilitated Chinese investments through offshore channels despite security sensitivities.
Gaming enthusiasts received news from Nintendo Direct about new Virtual Game Cards for device portability, coinciding with anticipation for the release of the Switch 2.
In analysis, the release of ChatGPT’s new image generator from OpenAI spurred discussions on AI and copyright, particularly with reference to art styles inspired by Studio Ghibli. This development rekindled debates on the legal implications of AI-generated content and copyright infringement.
