Americans Are Paying for Trump's Tariffs, Not Foreign Companies
General Motors Co. was the latest US company to disclose how the levies are raising costs, with the automaker saying Tuesday that the duties dented profits by more than $1 billion as it chose to absorb the blow. That helps explain why car prices didn't rise in last week's inflation data, while robust price increases for other commonly imported goods like toys and appliances showed those tariff expenses are being passed on to consumers.
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Forbes
an hour ago
- Forbes
Trump's AI Orders, Gixel's AR Optics, Big Tech Spends On Nvidia
WASHINGTON, DC - JULY 23: U.S. President Donald Trump displays a signed executive order at an AI ... More summit hosted by All‑In Podcast and Hill & Valley Forum at the Andrew W. Mellon Auditorium on July 23, 2025 in Washington, DC. Trump signed executive orders related to his AI "Action Plan" intended to promote U.S. dominance of the technology during the event. (Photo by) Trump signs sweeping 'AI Action Plan' and 'anti‑woke' order. The plan emphasises 'beating China' and loosening regulations so data centres and chip factories can be built more quickly. Trump also signed an 'anti‑woke' executive order that bars AI vendors from receiving federal contracts if their models include diversity or equity‑related content. Yikes. AI is the new history book, the new Wikipedia. Imagine if all our content came from the same oracle. To paraphrase George Orwell: he who controls AI, controls the past. He who controls the past, controls the future. TOPSHOT - US President Donald Trump speaks in the Roosevelt Room flanked by Masayoshi Son (2R), ... More Chairman and CEO of SoftBank Group Corp, Larry Ellison (2L), Executive Charmain Oracle and Sam Altman (R), CEO of Open AI at the White House on January 21, 2025, in Washington, DC. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images) OpenAI and Oracle scale back the $500 billion Stargate project from 30 GW to 4.5 GW. Then Software bailed and now they're only going to generate 4.4 gigawatts. That's 85% smaller. They're going to open one data center. There's not going to be a big press conference with the president and cover stories about this. Even so, the new facilities will use more than two million chips (wire that money directly to Nvidia). There was a lot of speculation in the ancient days of January, 2025 that this was not a real deal. It only took six months to unravel. WASHINGTON, DC - JULY 23: Jensen Huang, Co-Founder and CEO, NVIDIA speaks onstage at the All-In and ... More Hill & Valley Forum "Winning The AI Race" at Andrew W. Mellon Auditorium on July 23, 2025 in Washington, DC. (Photo byfor Hill & Valley Forum) xAI seeks up to $12 billion in debt to buy Nvidia chips Elon Musk's AI company xAI is working with Valor Equity Partners to raise as much as $12 billion in debt to acquire Nvidia GB200 and GB300 chips for training Grok. According to the Wall Street Journal, lenders want repayment within three years and may cap borrowing to limit risk. Musk said xAI is building multiple superclusters using more than 230,000 GPUs and will soon launch another with 550,000 chips. Nvidia is going to get a significant chunk of that ten billion. This image makes the basic principles very clear. Gixel Emerges from stealth with €5 million seed round led by Brendan Iribe. Their design for AR glasses uses curved lenses, enabling a slim, lightweight form factor suitable for everyday wear. The optics engine delivers variable focal planes, allowing virtual objects to appear at correct depths and fostering natural eye focus dynamics. Founded in 2019 and headquartered in Karlsruhe, Germany, Gixel closed an oversubscribed €5 million seed round, led by Oculus VR co‑founder Brendan Iribe and backed by former 20th Century Fox/RED futurist Ted Schilowitz, the FlixBus founders (Jochen Engert, Daniel Kraus, André Schwämmlein), Germany's federal innovation agency SPRIND, and early‑stage VC firm LEA Partners. The funds will support the industrialization of Gixel's curved‑lens optical engine, development of developer kits, and groundwork for a Series A round in the coming year. Deep fake hoax false and ai manipulation social media on display. Searching on tablet, pad, phone or ... More smartphone screen in hand. Abstract concept of news titles 3d illustration. UC Riverside researchers, in collaboration with Google scientists, have developed an AI model capable of detecting deepfakes. Unlike earlier detectors, their new UNITE software identifies inconsistencies in backgrounds, motion patterns, and subtle visual artifacts. Built on a transformer architecture and leveraging a novel 'attention-diversity loss,' it avoids focusing solely on faces by spreading attention across multiple regions. While still in development, it holds promise for integration into social media, fact-checking, and newsroom workflows, helping curb the spread of sophisticated video misinformation and AI slop in general. Adobe Firefly is about to make its biggest leap in AI video yet with a new model and Veo 3 integration Adobe has just released Firefly Video Model 1.9, a major upgrade that significantly boosts realism and storytelling in AI-generated videos, available now via its Web App. This update enables creators to produce more dynamic natural and urban environments, including detailed animal motion, weather effects, and 2D/3D animation. Firefly also now supports Veo 3, Luma, Runway, and Topaz integrations. Notably, the beta 'Generate Sound Effects' feature lets users craft custom audio via text prompts or voice input. The model also introduces new controls: reference-video input for composition transfer, style presets (like claymation and anime), and keyframe cropping tools. LOS ANGELES, CALIFORNIA - MAY 01: Co-founder and CEO of Runway Cristobal Valenzuela and ... More artist/musician Claire L. Evans speak on stage during the 2024 AI Film Festival Los Angeles Panel at The Orpheum Theatre on May 01, 2024 in Los Angeles, California. (Photo by) Disney and Netflix are Quietly Using Runway's AI Video Generators. If you recall, Runway is the AI start up that's raised $450 Million and was valued at $3B. They already have a deal with Lionsgate. Netflix has already used Runway's tools to produce a VFX scene in its sci‑fi series The Eternaut, highlighting savings in both time and cost. While Disney is reportedly testing the same technology, neither company has issued formal announcements. Animal Company becomes one of the highest‑grossing Meta Quest games. The social VR game where players use Gorilla Tag‑like locomotion with their arms in a horror‑mystery setting, is a bona-fide bestseller with more than 500,000 daily active users and about one billion views on TikTok. Its average daily playtime is 100 minutes and 45 percent of users return after 28 days. Since monetization began in April, paying users have increased ninefold. This column is also a podcast hosted by its author, Charlie Fink, Ted Schilowitz, former studio executive, and founding Red Camera executive, and Rony Abovitz, founder of Magic Leap. This week our guest is Bilawal Sidhu, Ex-Google PM (XR, maps) and now leading creative voice at the intersection of Generative of AI and media. We can be found on Spotify, iTunes, and YouTube. What We're Reading RP1 says that metaverse needs its own browser (Dean Takahashi/GamesBeat)
Bloomberg
an hour ago
- Bloomberg
US-Japan Trade Deal Hinges on Fund That Remains a Puzzle
The US and Japan this week reached what President Donald Trump called the largest trade deal in history after Tokyo pledged to set up a $550 billion fund for investment into the US, details of which remain obscure. The lack of clarity about how the fund will work adds to questions about the viability of the agreement, which imposes 15% tariffs on Japanese cars and other goods. While the start date and other basic elements are still unknown, Treasury Secretary Scott Bessent warned this week that the US would monitor implementation and bump the rate up to 25% if Trump isn't satisfied.
Yahoo
an hour ago
- Yahoo
Federal regulators approve Paramount's $8 billion deal with Skydance, capping months of turmoil
NEW YORK (AP) — Federal regulators on Thursday approved Paramount's $8 billion merger with Skydance, clearing the way to close a deal that combined Hollywood glitz with political intrigue. The stamp of approval from the Federal Communications Commission comes after months of turmoil revolving around President Donald Trump's legal battle with '60 Minutes,' the crown jewel of Paramount-owned broadcast network CBS. With the specter of the Trump administration potentially blocking the hard-fought deal with Skydance, Paramount earlier this month agreed to pay a $16 million settlement with the President. Critics of the settlement lambasted it as a veiled a bribe to appease Trump, amid rising alarm over editorial independence overall. Further outrage also emerged after CBS said it was canceling Stephen Colbert's 'Late Show' just days after the comedian sharply criticized the parent company's settlement on air. Paramount cited financial reasons, but big names both within and outside the company have questioned those motives. In a statement accompanying the deal's approval, FCC Chairman Brendan Carr hailed the merger as an opportunity to bring more balance to 'once-storied' CBS network. 'Americans no longer trust the legacy national news media to report fully, accurately, and fairly. It is time for a change," Carr said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
