In other news, Amazon is facing a landmark monopoly case by the FTC, accused of using illegal tactics to stifle online competition. OpenAI is seeking a new valuation between $80 billion and $90 billion, and an astronaut has set a new US record by spending 371 days in space. Microsoft is considering using nuclear energy to power its AI data centers, and generative AI is making it easier to write code.
Key takeaways:
- The European Commission is investigating whether Chinese-made electric vehicles (EVs) are benefiting from excessive government subsidies. If found true, this could lead to increased import duties making them less competitive in European markets.
- Chinese brands like BYD and Nio are among those under scrutiny, along with former British luxury sports car maker MG.
- Amazon is facing a landmark monopoly case by the FTC, accused of using illegal tactics to stifle online competition.
- QuantumScape, a Silicon Valley startup, is working on a new type of lithium-metal battery that could make electric cars as convenient and cheap as gas ones.