Welcome back to your daily memorandum talking tech, business, AI, markets, and more. 🗞️

In today’s edition we are tackling the following:

🍎 Apple in talks to integrate Google’s Gemini AI into a revamped Siri assistant.
🧊 Bluesky blocks Mississippi users in protest of new age-verification law.
🚘 Waymo receives first permit to test self-driving cars in New York City.
🏛️ U.S. converts $8.9B CHIPS Act grants into a nearly 10% stake in Intel.
💻 Nvidia halts H20 AI chip production after Chinese regulators cite backdoor risks.

TECHNOLOGY

• Apple explores using Google Gemini AI to power revamped Siri

  • Apple is in early talks with Google to integrate its Gemini AI into a redesigned Siri voice assistant to improve capabilities.

  • The move follows delays in an internal overhaul and reflects competition from Samsung and Google’s generative AI features.

  • Stocks for both companies rose on the news, as Apple weighs internal development versus outsourcing for its Siri upgrade.

• Bluesky blocks Mississippi users in response to new age-assurance law

  • Bluesky has blocked access from Mississippi IPs after the state's age-verification law, HB 1126, went into effect.

  • The law mandates platforms collect sensitive data and track minor users—requirements Bluesky says it cannot feasibly and safely meet.

  • The site remains blocked while the law faces legal challenges, with Bluesky citing privacy risks and infrastructure burdens.

• Waymo receives first permit to test autonomous vehicles in New York City

  • Waymo obtained New York City’s first permit to test self-driving Jaguar I-Pace vehicles on Manhattan and Brooklyn streets with safety drivers.

  • The pilot allows eight AVs to operate through September under strict safety rules, marking a major step for tech innovation in NYC.

  • Critics cite safety and job concerns, while Mayor Adams and DOT hail the move as responsible progress toward urban autonomy.

BUSINESS

• Trump announces U.S. will take a nearly 10% stake in Intel

  • The U.S. government converts $8.9 billion in CHIPS Act grants into a nearly 10% non-voting stake in Intel.

  • The shares were acquired at $20.47 each, giving the government an immediate $1.9 billion paper gain.

  • Supporters call it a patriotic boost for semiconductor manufacturing, while critics warn it risks politicizing the tech sector.

• Elon Musk tried to enlist Mark Zuckerberg in $100 bn bid for OpenAI

  • Internal court filings show Musk pitched a $97.4 billion takeover of OpenAI and approached Zuckerberg for financing.

  • Zuckerberg and Meta declined involvement despite their aggressive hiring and compensation tactics in AI talent.

  • OpenAI dismissed the bid and is now seeking legal disclosure of Musk-Meta communications, deepening the ongoing feud.

• Nvidia reportedly halts production on its H20 AI chips

  • Nvidia told suppliers to stop H20 chip production after Chinese regulators flagged security and backdoor risks.

  • The halt affects contracts with Amkor and Samsung, potentially impacting billions in revenue from the Chinese market.

  • CEO Jensen Huang denies any backdoor concerns and reassures that the chips are safe and performance-optimized.

MARKETS

WORLD

• Trump says he’s “very angry” after Ukraine strikes Russian pipeline supplying Orban

  • Trump expressed deep anger in a handwritten reply to Orban after Ukrainian drones damaged the Druzhba oil pipeline.

  • The pipeline, vital to Hungary and Slovakia, was hit twice, sparking protests to the European Commission over energy security.

  • Orban called the strikes “very unfriendly,“ and Trump reassured him by writing, “You’re my great friend,” in his response.

• Drone and bombing attacks in Colombia leave at least 19 dead

  • Dissident FARC attackers shot down a police Black Hawk helicopter using a drone, killing 13 officers in Antioquia.

  • A simultaneous car bomb near Cali killed six civilians and wounded dozens, marking one of Colombia’s deadliest attacks this year.

  • President Petro blamed FARC dissidents for the coordinated terrorist strikes, prompting armed forces to respond with artillery.

• India’s Supreme Court reverses stray dog removal order in New Delhi

  • The court ruled stray dogs must be sterilized, vaccinated, and returned to their original neighborhoods, replacing earlier relocation mandates.

  • Aggressive or rabid dogs are to remain in shelters, and designated feeding zones must be established in communities.

  • The revised judgment addresses public safety concerns and aligns with India’s Animal Birth Control objectives after widespread protests.

CONTENT

• The state of AI: growth, fragmentation, and the next wave

  • a16z partners analyze AI’s rapid growth, the myth of GPT wrappers, and why defensibility lies in true product moats.

  • Discussion covers Cursor’s rise, prosumer adoption shaping enterprise demand, and how today’s platform shift echoes past cycles.

  • They highlight risks of zero-sum thinking, SaaS incumbents’ innovator’s dilemma, and strategies for identifying category-defining winners.

• Howard Marks: 79 years of investing wisdom in 55 minutes

  • Howard Marks reflects on value investing principles, legendary memos, and decades of navigating market cycles with discipline.

  • He emphasizes staying unemotional, avoiding leverage during crises, and recognizing patterns to achieve higher long-term returns.

  • The conversation explores timeless investing lessons, recommended readings, and Marks’ philosophy on resilience.

• Why a colony on Mars is a dangerous idea

  • Matt O’Dowd, Avi Loeb, and Carol Cleland debate whether colonizing Mars is practical, psychological, or profoundly misguided.

  • They highlight the desolation of nearby planets, the inhospitable nature of Mars, and Earth’s unique livability.

  • Discussion weighs exploration’s evolutionary drive against survival arguments, questioning space colonization.

FUTURISM

• AI lovers grieve loss of ChatGPT’s old model: “Like saying goodbye to someone I know”

  • Longtime users lament GPT-5’s debut for replacing personalized chat tones they found warm and comforting.

  • OpenAI has restored older versions for subscribers and acknowledged it underestimated the emotional bond users formed.

  • Advocates form support networks like ‘AI in the Room’ to explore ethical AI companionship and promote mindful usage.

• As AI becomes part of everyday life, it brings a hidden climate cost

  • AI tasks consume vastly more energy than standard searches and rely heavily on fossil-fuel-powered, water-intensive data centers.

  • Massive cooling systems can use up to 5 million gallons of water per day—comparable to demand from a small town.

  • Experts urge prompt economy, local models, and eco-conscious platforms to counter AI’s escalating climate footprint.

• As AI becomes part of everyday life, it brings a hidden climate cost

  • AI systems consume far more electricity than traditional searches, increasing demand on fossil-fuel-powered grids and cooling systems.

  • Some data centers require up to 5 million gallons of water daily for cooling, straining local communities already facing shortages.

  • Experts warn unchecked growth could make AI a major driver of emissions, urging efficiency improvements and cleaner energy adoption.

EXTRAS

• Doctor accused of secretly recording 4,500 videos in Australian hospital restrooms released on bail

  • Melbourne trainee surgeon Ryan Cho faces around 500 charges after allegedly filming 4,500 intimate videos of at least 460 women.

  • Arrested in July, he was released on bail under strict conditions including living with parents and surrendering his Singapore passport.

  • Authorities continue investigating additional victims and hospital sites as Cho awaits trial, expected no sooner than late 2026.

• Netflix sets generative AI guidelines for production partners

  • Netflix requires partners using GenAI in content production to disclose intent and ensure transparency under five guiding principles.

  • Rules prohibit recreating copyrighted works, storing production inputs in models, and replacing talent without consent or written approval.

  • The policy aims to maintain creative integrity and trust while enabling innovation, following AI’s use in the series The Eternaut.

• Trump tariffs furniture imports from China amid trade tensions

  • The administration imposed new duties on Chinese furniture imports, citing national security and labor protection interests.

  • The move targets sofas, tables, and lamps, prompting U.S. retailers to consider reshoring supply chains or raising prices.

  • Critics warn the tariffs could inflate consumer costs and disrupt the home-goods market ahead of the holiday season.

AND MORE

• Dow hits record high as Wall Street cheers Powell’s speech.

• Powell signals possible rate cut but pledges a cautious approach.

• Find lifetime deals on solutions for productivity, marketing, AI, and more-with no monthly fees.*

• Canada plans to remove many retaliatory tariffs on U.S. exports.

• Wrongfully deported migrant Abrego released — may be detained again.

• Putin sees “light at end of tunnel” in U.S.–Russia relations.

• Solve complex ML challenges quickly with AI Devvvs, connecting you to top-tier specialists ready to deliver real results.*

• USPTO tightens rules on prior art in patent reviews from September.

• Tour bus flips on New York highway, leaving five dead and dozens injured.