5 Minutes Read

Elon Musk pushes plan for China data to power Tesla’s AI ambitions

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Under a one-year pilot project, companies in Shanghai’s Lingang Area, where Tesla’s factory is located, will be allowed to transfer certain data without needing further security assessments, Reuters reported on Friday.

Tesla is pushing ahead with plans to power the global development of its self-driving system with data from China that could be processed within the country, part of a strategic shift by Elon Musk, according to people with knowledge of the work.

As part of that effort, Tesla has been developing plans for a data centre in China to train the algorithm needed for more fully autonomous vehicles, according to two people, who asked not to be named because the work remains private.

Until recently, Tesla has focused on efforts to secure approval from Chinese regulators to transfer data generated by its EVs in China out of the country for its “Full Self Driving” (FSD) system, according to the two people and an additional person with knowledge of the matter.

It was not clear if Tesla would proceed with both options for handling self-driving data from China — data transfer and a local data centre — or if it was developing parallel plans as a hedge.

Tesla’s efforts underscore the speed of the electric vehicle maker’s pivot to bet on a breakthrough in AI at a time when EV demand has slowed and its competition has deepened.

Its push to make fuller use of data from vehicles in China to develop the automaker’s artificial intelligence for driving comes as the US government has tried to clamp down on the transfer of AI technology from US firms to China.

Tesla has not been able to offer the full version of FSD, which costs the equivalent of almost $9,000, in China.

A wider market for FSD in China would give a boost to the automaker’s revenue and profits at a time when both are getting squeezed by pressure from Chinese rivals such as BYD.

Tesla did not respond to a request for comment.

Setting up a data centre in China for FSD development would require Tesla to work with a Chinese partner, two of the sources said. There is also a potential hardware-sourcing challenge.

It has had talks with Nvidia about acquiring graphic processing units for a China data centre, according to one of the people, who was briefed on the discussions. US sanctions bar Nvidia and its partners from selling its most advanced chips in China.

Nvidia declined to comment on whether it had held talks with Tesla.

Tesla’s campaign to make more use of data from China was kicked into high gear in a whirlwind trip by Musk to Beijing last month when he met with officials including Premier Li Qiang.

In his meeting with Li, Musk sought to smooth permissions for Tesla’s data transfer, two of the sources said. The potential of Tesla investing in a data centre in China was also raised, they said.

Musk also discussed the possibility of Tesla licensing its FSD systems to Chinese EV makers, one person said. Musk had said in April Tesla was talking to another “major” automaker about licensing FSD without naming it.

China’s State Council Information Office did not respond to a request for comment.

THE CHINA EFFECT

China, the world’s largest car market, has the biggest fleet of sensor-equipped cars capable of collecting data from congested cities with complicated traffic patterns, making data generated there valuable for automakers and AI providers.

Musk previously expressed opposition to a China-based data centre, arguing that data transfer to the United States was the most efficient option, two people said.

Since 2021, Tesla has stored data collected by its Chinese EVs in Shanghai. Over that time, Tesla’s China team has been seeking approvals from Chinese regulators to transfer data out of the country, two people said.

Under a one-year pilot project, companies in Shanghai’s Lingang Area, where Tesla’s factory is located, will be allowed to transfer certain data without needing further security assessments, Reuters reported on Friday.

Some analysts see Musk as trying to make China a launchpad for self-driving in the same way Tesla’s 2019 bet on its Shanghai Gigafactory allowed it to break through as a mass-market electric vehicle maker.

“It would definitely be a milestone for Tesla if it rolls out FSD in China and leverages the China data for algorithm training,” said Yale Zhang, managing director at Shanghai-based consultancy Automotive Foresight.

“China had played a key role in scaling up EV production for Tesla with the Shanghai factory. It would again serve a significant part in scaling up mass adoption of autonomous driving technologies,” he said.

Many industry experts expect it will take years before fully autonomous cars are commonplace, but predictions vary widely.

Driver-assistance features now offered in China are “level two” systems, meaning they require a driver ready to take over. Tesla’s FSD and its less-advanced options of Autopilot, are also level-two systems requiring attentive drivers.

More fully automated vehicle fleets operated by Baidu, China’s biggest search engine operator, and Pony.ai, an autonomous driving startup, run in limited test zones.

But China’s EV makers, including BYD, have made self-driving and advanced driver-assist systems a priority. Mercedes and BMW have been granted licenses to test level-three systems that allow drivers to take their hands off the wheel and look away on a wider range of roads in China.

At least five automakers — Hyundai, Mazda, Toyota, Volkswagen and Nissan — have approval to transfer some of their data out of China, but none of those approvals are for data to be used to train AI systems, according to lawyers, state media reports and analysts.

Penalties for violating data privacy laws that came into effect in China in 2021 are a major risk factor for data operations, groups representing foreign businesses in China say.

When asked about competition from Chinese EV makers during a call with investors after Tesla’s quarterly earnings last month, Musk said Tesla should be viewed more as an AI company.

He said he was confident Tesla’s FSD system would work “pretty well without modification in almost any market”. It would work better with “country-specific” training, Musk said.

Also Read: Tesla’s autonomous robotaxis to be tested in China, CEO Elon Musk reveals

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Twitter completes transition to X.com domain, confirms Elon Musk

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Elon Musk announced the complete transition of Twitter, now called ‘X’, to the X.com domain. Despite initial technical delays since its rebranding in July 2023, all core systems have moved, with a focus on maintaining privacy and data protection settings.

The social media giant formerly known as Twitter has now officially transitioned to the ‘X’ domain. The announcement was made by Elon Musk through a post on the newly rebranded platform.

The rebranding process began in July 2023 when Musk, having acquired Twitter in 2022, decided to rename the platform to ‘X’. The change was symbolised by replacing the iconic blue bird logo with an ‘X’. Despite the immediate logo switch, the transition of the platform’s domain to X.com encountered technical hurdles, causing delays.

However, Musk’s recent confirmation indicates that all core systems have successfully migrated to X.com. Users visiting the X login page are greeted with a notification about the URL change, reassuring them that their privacy and data protection settings remain unaffected.

This transition has not been without its challenges. For a period, users navigating to Twitter were not consistently redirected to the new X domain but landed on the platform’s original page instead. This staggered redirection process suggests a phased approach to the domain switch, with expectations set for a complete transition in the near future.

The move to X.com represents a significant milestone in Musk’s vision for the platform. While the initial domain shift began in August last year, fluctuating between the new and old domains highlighted the complexities involved in such a major digital overhaul.

With Musk’s latest announcement, it’s anticipated that the social media platform will soon cease to be accessible under its former Twitter domain, fully embracing its new identity as ‘X’.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Neuralink looking for second participant for Telepathy cybernetic brain implant trial

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Noland Arbaugh, the first participant, received his implant over 100 days ago at the Barrow Neurological Institute in Phoenix, Arizona. The company reported that the surgery went “extremely well,” and Arbaugh was able to return home the following day.

Elon Musk, on Friday, announced that Neuralink is now accepting applications for Telepathy, which involves a cybernetic brain implant designed to enable users to control their phones and computers merely by thinking.

Noland Arbaugh, the first participant, received his implant over 100 days ago at the Barrow Neurological Institute in Phoenix, Arizona. The company reported that the surgery went “extremely well,” and Arbaugh was able to return home the following day.

However, on May 7, Neuralink revealed that the implant experienced a malfunction post-surgery. Weeks after the procedure, some of the device’s threads retracted from Arbaugh’s brain, leading to fewer effective electrodes. This retraction inhibited the device’s ability to measure speed and accuracy.

Neuralink has not disclosed the exact number of retracted threads, raising questions about the reliability and long-term efficacy of the technology. Despite this setback, the company remains optimistic about the potential of its brain-computer interface and is moving forward with the selection of a second participant.

Also Read: Elon Musk’s Neuralink has faced issues with its tiny wires for years, sources say

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Elon Musk likely to launch Starlink satellite unit in Indonesia this Sunday

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

While Indonesian officials have several times previously announced Musk would visit the country to attend events or discuss possible investments by his auto firm Tesla, this would be his first in-person visit.

Tycoon Elon Musk, the owner of SpaceX, is scheduled to visit Indonesia to launch its satellite unit Starlink this Sunday, according to two cabinet ministers.

Minister Luhut Pandjaitan, a close ally of President Joko Widodo, said Musk would launch the service on the holiday island of Bali alongside the Indonesian leader.

While Indonesian officials have several times previously announced Musk would visit the country to attend events or discuss possible investments by his auto firm Tesla, this would be his first in-person visit.

He has spoken before via video link at a conference held in Indonesia.

Musk is also scheduled to speak at the World Water Forum in Bali, Luhut said in a statement issued on Wednesday.

The Starlink launch will be held at a clinic in Bali’s capital Denpasar, where Musk was scheduled to sign an agreement on connectivity for the health sector, Communications Minister Budi Arie Setiadi told Reuters on Thursday.

Starlink’s Indonesia representatives could not immediately be reached for confirmation of the Musk visit and the company did not immediately respond to an email sent outside of U.S. business hours.

Starlink secured a permit to commercially offer its internet services in Indonesia earlier this month for retail consumers, Budi told Reuters last week.

Starlink will cooperate with local network access providers and Indonesia expects the firm to provide internet services to its remote areas.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Elon Musk’s Neuralink has faced issues with its tiny wires for years, sources say

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The company said last week that the implant’s tiny wires, which are thinner than a human hair, retracted from a patient’s brain in its first human trial, resulting in fewer electrodes that could measure brain signals.

Neuralink’s disclosure last week that tiny wires inside the brain of its first patient had pulled out of position is an issue the Elon Musk company has known about for years, according to five people familiar with the matter.

The company knew from animal testing it had conducted ahead of its US approval last year that the wires might retract, removing with them the sensitive electrodes that decode brain signals, three of the sources said. Neuralink deemed the risk low enough for a redesign not to be merited, the sources added.

Neuralink is testing its implant to give paralysed patients the ability to use digital devices by thinking alone, a prospect that could help people with spinal cord injuries.

The company said last week that the implant’s tiny wires, which are thinner than a human hair, retracted from a patient’s brain in its first human trial, resulting in fewer electrodes that could measure brain signals.

The signals get translated into actions, such as moving a mouse cursor on a computer screen. The company said it managed to restore the implant’s ability to monitor its patient’s brain signals by making changes that included modifying its algorithm to be more sensitive.

The sources declined to be identified, citing confidentiality agreements they had signed with the company. Neuralink and its executives did not respond to calls and emails seeking comment.

The US Food and Drug Administration was aware of the potential issue with the wires because the company shared the animal testing results as part of its application to begin human trials, one of the people said.

The FDA declined to comment on whether it was aware of the issue or its possible significance. The agency told Reuters it would continue to monitor the safety of patients enrolled in Neuralink’s study.

Were Neuralink to continue the trials without a redesign, it could face challenges should more wires pull out and its tweak to the algorithm proves insufficient, one of the sources said.

But redesigning the threads comes with its own risks. Anchoring them in the brain, for example, could result in brain tissue damage if the threads dislodge or if the company needs to remove the device, two of the sources said.

The company has sought to design the threads in a way that makes their removal seamless, so that the implant can be updated over time as the technology improves, current and former employees say.

In January, Neuralink implanted the device in the brain of its first patient, Noland Arbaugh, who is paralyzed from the shoulders down due to a 2016 diving accident.

In the weeks after the surgery, “a number of threads retracted from the brain,” Neuralink said in a blog update last week. The post made no mention of adverse health effects to Arbaugh and did not disclose how many of the device’s 64 threads pulled out or stopped collecting brain data.

So far, the device has allowed Arbaugh to play video games, browse the internet and move a computer cursor on his laptop by thinking alone, according to company blog posts and videos. Neuralink says that soon after the surgery, Arbaugh surpassed the world record for the speed at which he can control a cursor with thoughts alone.

It is common for medical device companies to troubleshoot different designs during animal trials and for issues to arise during animal and clinical testing, according to outside researchers and sources who have worked at Neuralink and other medical device companies.

Specialists who have studied brain implants say the issue of threads moving can be hard to solve, partly due to the mechanics of how the brain moves inside the skull.

Robert Gaunt, a neural engineer at the University of Pittsburgh, described the movement of the wires so soon after the surgery as disappointing but said that is not unforeseen. “In the immediate days, weeks, months after an implant like this, it’s probably the most vulnerable time,” he said.

PIG HEAVING

In 2022, the FDA initially rejected Neuralink’s application to begin human trials, and raised safety concerns about the threads, Reuters exclusively reported last year.

Neuralink conducted additional animal testing to address those concerns, and the FDA last year granted the company approval to begin human testing.

The company found that a subset of pigs implanted with its device developed a type of inflammation in the brain called granulomas, raising concerns among Neuralink’s researchers that the threads could be the cause, according to three sources familiar with the matter and records seen by Reuters.

Granulomas are an inflammatory tissue response that can form around a foreign object or an infection.

In at least one case, a pig developed a severe case of the condition. Company records reviewed by Reuters show that the pig developed a fever and was heaving after surgery. Neuralink’s researchers did not recognize the extent of the problem until examining the pig’s brain post-mortem.

Inside Neuralink, researchers debated how to rectify the issue and commenced a months-long investigation, said the sources familiar with the events.

Ultimately, the company could not determine the cause of the granulomas, but concluded that the device and the attached threads were not to blame, one of the sources said.

Also Read: Elon Musk’s xAI nears $10 billion deal to rent Oracle’s AI servers: Report

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Elon Musk’s xAI nears $10 billion deal to rent Oracle’s AI servers: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

xAI was reportedly in talks to raise $3 billion in a round last month, which would have valued the company at $18 billion.

Elon Musk’s artificial intelligence startup xAI has been talking to Oracle executives about spending $10 billion to rent cloud servers from the company over a period of years, The Information reported on Tuesday, citing a person involved in the talks.

The deal would make xAI one of Oracle’s largest customers, the report said, as Musk looks to raise funds for xAI in an attempt to rival the AI offerings of OpenAI and Google.

The cloud negotiations are ongoing and there is no guarantee that the two companies will sign a deal, the report added.

xAI was reportedly in talks to raise $3 billion in a round last month, which would have valued the company at $18 billion.

Oracle and Elon Musk did not immediately respond to Reuters requests for comment.

Oracle’s co-founder Larry Ellison, a self-described close friend of Elon Musk, announced in September that Musk’s startup had signed a contract to train AI models in Oracle’s Gen2 Cloud.

Oracle released an update to its database technology earlier this month intended to make it more useful with AI.

XAI is the largest H100 customer at Oracle, using more than 15,000 of the AI chips, the report said. H100 is an AI chip made by Nvidia.

Last month, Musk said xAI would launch an enhanced version of its chatbot Grok to early testers and existing users on his social media platform X.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Elon Musk ordered to testify again in US SEC probe of Twitter takeover

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The investigation concerns whether Musk broke federal securities laws in 2022 when he bought stock in Twitter, which he later renamed X.

A federal court ordered on Tuesday that Elon Musk must testify again in the US Securities and Exchange Commission’s investigation into his $44 billion takeover of Twitter.

The SEC sued Musk in October to compel the CEO of electric carmaker Tesla and rocket company SpaceX to testify after he refused to attend a September interview for the investigation. The billionaire said the SEC was trying to ”harass” him with a number of subpoenas.

The investigation concerns whether Musk broke federal securities laws in 2022 when he bought stock in Twitter, which he later renamed X. It is also reviewing statements and SEC filings he made in relation to the deal, the agency has previously said.

US Magistrate Judge Laurel Beeler in February ruled in favour of the agency to compel the deposition and Musk requested a review of the decision.

”As Judge Beeler explained, the investigations Musk contends constitute harassment are ’legitimate government investigations’,” US District Judge Jacqueline Scott Corley said on Tuesday.

”Musk has not met his burden of demonstrating the subpoena is unreasonable.”

This marks the latest dispute in a years-long feud between Musk and the top US markets regulator, dating back to 2018 when he tweeted that he had ”funding secured” to take Tesla private.

In 2022, Musk supplied the SEC with documents for its probe and also testified via videoconference for two half-day sessions in July of that year, the SEC has said in court documents. Agency lawyers have said they have more questions for Musk after receiving new documents and had sought additional testimony.

Musk was not immediately available for comment.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Tesla plans to cut 601 more jobs in California, notice to government says

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The latest layoff plan would affect employees at Tesla’s facilities in Palo Alto and Fremont, California, and will start for 14 days beginning on June 20, 2024.

Tesla plans to lay off an additional 601 employees in California, it said in a notice to the state government, as the automaker undertakes a series of job cuts globally that began a month ago amid falling sales and intensifying price competition.

Tesla CEO Elon Musk said on April 15 that the company would lay off more than 10% of its global workforce, which stood at over 140,000 in late 2023. The electric vehicle maker has conducted several rounds of job cuts since then, as Musk wanted to slash 20% of its headcount, according to people familiar with the matter.

The latest layoff plan would affect employees at Tesla’s facilities in Palo Alto and Fremont, California, and will start for 14 days beginning on June 20, 2024, Tesla said in its Worker Adjustment and Retraining Notification (WARN).

The electric carmaker said last month it would lay off 6,020 people in California and Texas, as part of the headcount cuts.

The global job reductions also included 285 employees at its Buffalo, New York facilities that house the labelling team for its Autopilot driver assistance software and which makes fast-charging equipment.

Musk disbanded Tesla’s Supercharger team on April 30.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Chinese automaker BYD’s low-cost EV Seagull rattles US auto industry

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The car, launched last year by Chinese automaker BYD, sells for around $12,000 in China, but drives well and is put together with craftsmanship that rivals US electric vehicles that cost three times as much. A shorter-range version costs under $10,000.

A tiny, low-priced electric car called the Seagull has American automakers and politicians trembling.

The car, launched last year by Chinese automaker BYD, sells for around $12,000 in China, but drives well and is put together with craftsmanship that rivals US electric vehicles that cost three times as much. A shorter-range version costs under $10,000.

Tariffs on imported Chinese vehicles will keep the Seagull out of America for now, and it likely would sell for more than 12 grand if imported.

But the rapid emergence of low-priced EVs from China could shake up the global auto industry in ways not seen since Japanese makers arrived during the oil crises of the 1970s. BYD, which stands for “Build Your Dreams,” could be a nightmare for the US auto industry.

“Any car company that’s not paying attention to them as a competitor is going to be lost when they hit their market,” said Sam Fiorani, a vice president at AutoForecast Solutions near Philadelphia. “BYD’s entry into the US market isn’t an if. It’s a when.”

US politicians and manufacturers already see Chinese EVs as a serious threat. The Biden administration on Tuesday is expected to announce 100% tariffs on electric vehicles imported from China, saying they pose a threat to US jobs and national security.

The Alliance for American Manufacturing says in a paper that government subsidized Chinese EVs “could end up being an extinction-level event for the US auto sector.”

Earlier this year, Tesla CEO Elon Musk said Chinese EVs are so good that without trade barriers, “they will pretty much demolish most other car companies in the world.”

Outside of China, EVs are often pricey, aimed at higher-income buyers. But Chinese brands offer affordable options for the masses — just as many governments are encouraging a shift away from gasoline vehicles to fight climate change.

Inside a huge garage near Detroit, a company called Caresoft Global tore apart and reassembled a bright green Seagull that its China office purchased and shipped to the US

Company President Terry Woychowski, a former chief engineer on General Motors’ pickup trucks, said the car is a “clarion call” for the US industry, which is years behind China in designing low-cost EVs.

After the teardown, Woychowski said he was left wondering if US automakers can adjust. “Things will have to change in some radical ways in order to be able to compete,” he said.

There’s no single miracle that explains how BYD can manufacture the Seagull for so little. Instead, Woychowski said the entire car, which can go 252 miles (405 kilometers) per charge, is “an exercise in efficiency.”

Higher US labor costs are a part of the equation. BYD also can keep costs down because of its battery-making expertise — largely lithium iron phosphate chemistry used in consumer products. The batteries cost less but have lower range than most current lithium-ion batteries.

Americans are still learning to make cheaper batteries, Woychowski said.

BYD also makes many of its own parts, including electric motors, dashboards, and bodies, using its huge scale — 3 million vehicles sold worldwide last year — for cost savings.

It designs vehicles with cost and efficiency in mind, he said. For instance, the Seagull has only one windshield wiper, eliminating one motor and one arm, saving on weight, cost and labor to install.

US automakers don’t often design vehicles this way and incur excess engineering costs, Woychowski said.

The efficiency means weight savings that add up, allowing the Seagull to travel farther per charge on a smaller battery.

So Detroit needs to quickly re-learn a lot of design and engineering to keep up while shedding practices from a century of building vehicles, Woychowski said.

The Seagull still has a quality feel. Doors close solidly. The gray synthetic leather seats have stitching that matches the body color, a feature usually found in more expensive cars. The Seagull tested by Caresoft has six air bags and electronic stability control.

A brief drive through some connected parking lots by a reporter showed that it runs quietly and handles curves and bumps as well as more costly EVs

While acceleration isn’t head-snapping like other EVs, the Seagull is peppy and would have no problems entering a freeway.

BYD would have to modify its cars to meet US safety standards, which are more stringent than in China. Woychowski says Caresoft hasn’t done crash tests, but he estimated that would add $2,000 to the cost.

BYD sells the Seagull, also called the Dolphin Mini, in four Latin American countries for about $21,000. The higher price includes transportation and reflects higher profits possible in less cutthroat markets than China.

BYD told the AP last year it is “still in the process” of deciding whether to sell autos in the US It is weighing factory sites in Mexico for the Mexican market.

The company isn’t selling cars in the US largely due to 27.5% tariffs on the sale price of Chinese vehicles when they arrive. Donald Trump slapped on the bulk of the tariff, 25%, when he was president, and it was kept in place under Joe Biden. Trump contends that the rise of EVs backed by Biden will cost US factory jobs, sending the work to China.

The Biden administration has backed legislation and policies to build a US EV manufacturing base.

Some members of Congress are urging Biden to ban imports of Chinese vehicles altogether, including those made in Mexico by Chinese companies that now would come in largely without tariffs.

Ford CEO Jim Farley, has seen Caresoft’s work on the Seagull and BYD’s rapid growth, especially in Europe. He’s moving to change his company. A small “skunkworks” team is designing a new, small EV to keep costs down and quality high, he said earlier this year.

Chinese makers, Farley said, sold almost no EVs in Europe two years ago, but now have 10% of the EV market. It’s likely they’ll export around the globe and possibly sell in the US

Ford is preparing to counter that. “Don’t take anything for granted,” Farley said. “This CEO doesn’t.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Australian court lifts order blocking X on church stabbing video

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The legal tussle has sparked heated exchanges between Musk and senior Australian officials including Prime Minister Anthony Albanese, who called Musk “an arrogant billionaire” for his objections to take down the video.

An Australian court on Monday rejected a bid by the country’s cyber safety regulator to extend a temporary order for Elon Musk-owned X to block videos of the stabbing of an Assyrian church bishop, which authorities had called a terrorist attack.

Federal Court judge Geoffrey Kennett said the application to extend the injunction granted last month had been refused. The reasons for the judgement will be released later, the judge said during a brief hearing.

The matter has been listed for a hearing on Wednesday.

The legal tussle has sparked heated exchanges between Musk and senior Australian officials including Prime Minister Anthony Albanese, who called Musk “an arrogant billionaire” for his objections to take down the video. Musk has posted memes criticising the regulatory order, describing it as censorship.

Other platforms, such as Meta, took down the content quickly when asked.

The Federal Court, Australia’s second-highest court, last month upheld an order by the eSafety Commissioner asking X, formerly Twitter, to take down 65 posts containing footage of the bishop being knifed mid-sermon in Sydney on April 15, saying it showed explicit violence. A 16-year-old boy has been charged with a terrorism offence for the alleged attack.

Australian users have been blocked from viewing the posts but X has refused to remove them globally on the grounds that one country’s rules should not control the internet.

The regulator told the court last week that geo-blocking Australians, the solution X offered, was ineffective because a quarter of the population used virtual private networks that disguised their locations.

Last week, Albanese’s centre-left government announced it would hold a parliamentary inquiry to look into the negative impacts of social media, saying it has significant control over what Australians see online, with almost no scrutiny.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?