Author: arthursheikin@gmail.com

[ad_1] CNN  —  For years, Tesla has earned billions of dollars from its competitors just for selling electric vehicles. But that windfall is about to go away, just when the company may need it the most. Regulatory credit sales have been a huge source of revenue for the automaker, which currently faces a sales and profit slump. Legacy automakers purchase credits from Tesla to keep selling gas-burning cars that would otherwise violate emission regulations and cost them a fine. But the Republican tax and spending bill passed earlier this month removes that financial penalty for automakers, meaning they will no…

[ad_1] About six months after coming out of stealth with $50 million in funding, Latent Labs has released a web-based AI model for programming biology. Latent Labs model has “achieved state-of-the-art on different metrics” when testing the proteins it developed in a physical lab, according to Latent Labs CEO and founder Simon Kohl, a scientist who previously co-led DeepMind’s AlphaFold’s protein design team. State-of-the-art, or SOTA, is a term often used in the AI field that represents the industry’s best performance to date on a specific task. “We have computational ways of assessing how good the designs are,” he told…

[ad_1] The billionaire owner of the Los Angeles Times, Patrick Soon-Shiong, announced that he is taking the paper public.Soon-Shiong, a businessman, investor, and medical researcher, broke the news in a Monday episode of Jon Stewart’s “The Daily Show.””I’m going to announce something with you tonight,” he said to Stewart. “Is that we’re going to take LA Times public and allow it to be democratized, and allow the public to have the ownership of the paper.”The announcement was followed by cheering and applause from the audience.Soon-Shiong, through his investment firm Nant Capital, took over ownership of the paper in 2018 and…

[ad_1] CNN  —  President Donald Trump’s tariffs could have an unintended side effect: making homeownership even less affordable for many Americans. A new report from the Canadian Chamber of Commerce estimates that the average cost of building a US home could rise by an additional $14,000 by the end of 2027 if tariffs on Canadian imports remain in place, even as many experts estimate that America needs millions more affordable homes. In 2023 alone, Canada accounted for 69% of US lumber imports, 25% of imported iron and steel and 18% of copper imports, all key construction materials, the report said.…

[ad_1] South Korean AI chip startup FuriosaAI announced a partnership on Tuesday to supply its AI chip, RNGD, to enterprises using LG AI Research‘s recently unveiled EXAONE platform. RNGD is optimized for running large language models (LLMs) and just last week, the Korean tech giant LG unveiled its next-generation hybrid AI model EXAONE 4.0. The collaboration targets key sectors, including electronics, finance, telecommunications, and biotechnology, for a range of diverse applications. This news comes roughly three months after FuriosaAI declined Meta’s $800 million acquisition offer, opting to remain independent. The deal fell through due to disagreements over post-acquisition business strategy…

[ad_1] Washington CNN  —  President Donald Trump has blasted Federal Reserve Chair Jerome Powell for months for not lowering interest rates, even threatening to fire the central banker. Now, the White House is seizing on a $2.5 billion renovation of the Fed’s headquarters in Washington, DC, as a potential legal opening to fire Powell as Trump calls for supersized rate cuts. The president said last week that it’s “highly unlikely” he will try to fire Powell, but he left the door open “for fraud.” Firing Powell would be an unprecedented move in the central bank’s 111-year history, potentially sparking a…

[ad_1] CNN  —  Patrick Soon-Shiong, the billionaire who purchased the Los Angeles Times for $500 million in 2018, said Monday he is taking the ailing newspaper public. Speaking on “The Daily Show,” Soon-Shiong told host Jon Stewart the newspaper will take the company public over the course of the next year. The billionaire did not clarify when that would happen. “We literally are going to take the LA Times public and allow it to be democratized and allow the public to have the ownership of this paper,” Soon-Shiong told Stewart. “We think over the next year we will. I’m working…

[ad_1] CNN  —  Jon Stewart pulled no punches Monday over CBS’s cancellation of Stephen Colbert’s late-night show. During Monday night’s broadcast of “The Daily Show,” Stewart’s first since Colbert on Thursday shared that “The Late Show” would not return beyond May 2026, the late-night veteran lambasted CBS for canceling the program. “The fact that CBS didn’t try to save their No. 1 rated late-night franchise that’s been on the air for over three decades is part of what’s making everybody wonder … was this purely financial or maybe the path of least resistance for your $8 billion merger,” Stewart said…

[ad_1] AI models from OpenAI and Google DeepMind achieved gold medal scores in the 2025 International Math Olympiad (IMO), one of the world’s oldest and most challenging high school level math competitions, the companies independently announced in recent days. The result underscores just how fast AI systems are advancing, and yet, how evenly matched Google and OpenAI seem to be in the AI race. AI companies are competing fiercely for the public perception of being ahead in the AI race: an intangible battle of “vibes” that can have big implications for securing top AI talent. A lot of AI researchers…

[ad_1] This as-told-to essay is based on a conversation with Aaron Chen, a rising sophomore at UC Berkeley. This interview has been edited for length and clarity. Business Insider has verified Chen’s employment history. The startup that pulled his offer did not respond to a request for comment.After a few calls with a crypto startup in New York, I was offered a summer internship over email in March. I signed the non-disclosure agreement with them.I was really happy as that was pretty late for recruitment, and I was stressed. Most upperclassmen got an offer in December.In June, I hopped on…