$3 trillion

US government investigates companies in AI, Apple and OpenAI forge partnership, Nvidia reaches $3 trillion, and more...

Good morning,

Here are the most important things you need to know from this week in tech…

Justice Department and the FTC have reached a deal that allows them to proceed with antitrust investigations into the dominant roles that Microsoft, OpenAI, and Nvidia play in the AI industry.
Apple and OpenAI have forged a partnership to integrate ChatGPT into iOS. This will likely be a key focus of Apple’s WWDC event next week.
Nvidia’s market cap topped $3 trillion, elevating the chipmaker to the most valuable company behind Microsoft.
SpaceX’s fourth Starship test is the first one to reach splashdown. It touched down in the Indian Ocean after its Super Heavy rocket returned to the Gulf of Mexico for its controlled landing.
GameStop shares jump more than 40% as ‘Roaring Kitty’ schedules YouTube livestream for today.

Elon Musk’s xAI is developing a factory to house a supercomputer in Memphis, Tennessee.
Alphabet has hired Anat Ashkenazi as its new CFO. She was formerly the CFO of pharmaceutical giant Eli Lilly.
Scientists develop ultra-thin battery for smart contact lenses that could be charged by tears.
Netflix tests its biggest TV app redesign in 10 years to simplify its homepage.
Apple plans to introduce a separate app to keep your passwords.
Boeing’s space taxi delivered two astronauts to the International Space Station.
Tesla CEO Elon Musk could leave if his $56B pay package isn’t approved.
Discord unveils new ways for its developers to make money.
FTC investigates Microsoft’s deal to pay $650M for the rights to AI startup Inflection’s technology and hiring nearly all of its staff. The concern here is if this should be considered an acquisition or not.
Elon Musk redirected 12,000 H100 GPUs ordered by Tesla to X.

Shopify acquires Threads.com (the Slack alternative app, NOT Meta’s social app) for an undisclosed amount.
Carta, an equity management startup, is working on a secondary sale that would cut its valuation by $6.5B—its new valuation will be $2B.
Robinhood acquires global crypto exchange Bitstamp for $200M.
Pika Labs raised an $80M Series B round for its AI video generator. In total, the 1-year-old startup has raised more than $130M.
AI hardware startup Humane is exploring a sale to HP for $1B.
Databricks acquires data management startup Tabular for over $1B to build a common data lakehouse standard.
Cube, a San Francisco, CA-based provider of universal semantic layer for every data app, raised $25M.
Sixfold, a NYC-based startup building underwriting tech with Gen-AI for risk analysis, raised a $15M Series A round.
Fizz, a credit-building debit card aimed at Gen Z college students, raised a $14.4M seed round.
Whizz, a NYC-based e-bike subscription platform for last-mile delivery drivers, raised a $12M Series A round.
Cisco has launched a $1B global fund to invest in AI startups.

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That’s it for this week. Let me know what you think!

🌜 Loryn from Dark Mode Digest