In other news, Saudi Aramco is in talks for a minority stake in U.S. telecom software maker Mavenir, as part of Saudi Arabia's tech-forward Vision 2030 plan. The deal is expected to be signed before the end of the year. Other updates include a recall of 208,000 electric vehicles by Kia, Hyundai, and Genesis due to power loss during driving, and SEC penalties reaching a record $8.2bn in 2024, half of which is from the Terraform Labs-Do Kwon crypto fraud case.
Key takeaways:
- A top U.S. cybersecurity official, Morgan Adamski, warns that Chinese-linked hackers are preparing for a major conflict with the United States, having gained access to critical IT networks.
- TikTok CEO Shou Chew has reportedly sought guidance from Elon Musk regarding the incoming Trump administration and potential tech policy, as a deadline looms for parent company ByteDance to sell TikTok or face a U.S. ban.
- Amazon is set to invest $4 billion in AI startup Anthropic, doubling its investment since last year, with Anthropic making Amazon Web Services its primary training partner.
- Meta has failed in its attempt to avoid a shareholder lawsuit over the Cambridge Analytica scandal, with the Supreme Court dismissing its appeal and allowing the suit to proceed.