The US Securities and Exchange Commission (SEC) has filed an appeal in its case against Ripple, though it does not challenge the court’s decision that XRP is not a security. Instead, the SEC’s appeal, submitted on 16 October, questions Ripple’s XRP sales on exchanges and personal sales by its executives, Brad Garlinghouse and Chris Larsen.
Ripple’s chief legal officer, Stuart Alderoty, clarified that the ruling regarding XRP’s status as a non-security remains unchanged. Ripple is set to file its own Form C in response within seven days, and both parties will agree on a briefing schedule for the ongoing case.
The legal process is expected to take up to 90 days, with the SEC required to file its first brief within that period. Ripple’s legal team remains confident as the case progresses.
OpenAI has released the ChatGPT app for Windows, which is now available via the Microsoft Store. Like the Mac version launched earlier this year, it offers quick access to the AI-powered chatbot, allowing users to integrate AI into their daily activities.
The app is in an early release stage and limited to paid users, including Plus, Team, Enterprise, and Edu subscribers. A broader rollout to free-tier users is expected within the next few weeks or months. Some Mac and web version features are not yet included but are planned for future updates.
Key features missing from the Windows version include advanced voice modes, integration with Google Drive and Microsoft OneDrive, and external authentication through GPT Builder. Users, however, can still upload files and photos using the newly introduced o1 model for analysis.
ChatGPT offers convenience features such as the ‘Alt + Space’ shortcut, which allows users to bring it into focus when multitasking. It also remembers its previous position on the screen, resetting to the centre upon reopening.
Republican presidential candidate Donald Trump revealed that he spoke with Apple CEO Tim Cook about the financial penalties imposed on the tech giant by the European Union. Trump claimed that Cook informed him about a recent $15 billion fine from the EU, along with an additional $2 billion penalty, although Apple has not confirmed the details of the call.
The EU is investigating major tech companies to limit their influence and promote fair competition for smaller businesses. Recently, Apple encountered major challenges, including a court ruling that required the company to pay about $14 billion in back taxes to Ireland. Additionally, Apple was hit with a $2 billion antitrust fine for allegedly restricting competition in the music streaming sector via its App Store.
During the podcast with Patrick Bet-David, Trump expressed his commitment to protect American companies from what he described as unfair treatment. He stated, ‘Tim, I got to get elected first. But I’m not going to let them take advantage of our companies.’ Trump and Democrat Kamala Harris are currently in a tight race for the 5 November presidential election.
Schneider Electric has announced an $850 million deal to acquire a 75% controlling stake in Motivair Corp, a US company specialising in liquid cooling solutions for high-performance computing. The French firm expects to complete the all-cash deal in the coming quarters, with plans to acquire the remaining stake by 2028. The acquisition is part of Schneider’s strategy to expand its offerings for the rapidly growing data centre market, which increasingly demands efficient cooling solutions for technologies like generative AI.
Motivair, located in Buffalo, New York, manufactures advanced cooling systems that pump coolant directly near chips, efficiently managing the heat produced by high-performance computing—something traditional air cooling struggles to do. Schneider CEO Peter Herweck emphasised the expansion of the data centre and networks sector, which accounted for 21% of the company’s 2023 orders, approximately 8 billion euros. He also noted strong global demand for these technologies.
Herweck stated that Schneider is not actively pursuing further acquisitions in the data centre sector but remains open to opportunities as they emerge. The company’s shares have climbed 31% this year, driven by its strong market presence and the growing demand for advanced cooling solutions in data centres.
Mistral, a French AI startup, has launched its first generative AI models, ‘Les Ministraux,’ designed to run on edge devices like laptops and mobile phones. The models, Ministral 3B and Ministral 8B, offer versatile applications such as on-device translation and autonomous robotics, catering to privacy-focused, low-latency scenarios.
Both models can process 128,000 tokens, roughly the length of a 50-page book. While Ministral 8B is available for research purposes, commercial licences for self-deployment are being offered directly by Mistral. Developers can also access the models through Mistral’s cloud platform, La Platforme.
Smaller AI models are increasingly in demand due to their cost-effectiveness and efficiency. Mistral claims that its Ministral models outperform competitors like Llama and Gemma across several benchmarks, offering strong instruction-following and problem-solving capabilities.
Paris-based Mistral, which has raised $640 million in venture capital, continues to expand its AI portfolio. The company has introduced services such as developer testing and model fine-tuning, positioning itself as a competitor to major players like OpenAI and Anthropic.
The Cybersecurity Association of China (CSAC) has urged a security review of Intel’s products in China, alleging that the US chipmaker poses a national security risk. Although CSAC is an industry group, it has strong connections to the Chinese government, and its claims may prompt action from the Cyberspace Administration of China (CAC).
CSAC’s post on WeChat accuses Intel’s chips, including its Xeon processors used for AI, of containing vulnerabilities and backdoors allegedly tied to the US NSA. The group warns that using Intel products threatens China’s national security and critical infrastructure.
This recommendation comes amid growing US-China tensions over technology and trade. Last year, the CAC banned Chinese infrastructure operators from using products from Micron Technology after a security review, raising concerns that Intel could face a similar outcome.
Intel’s China unit responded, emphasising its commitment to product safety and quality. The company stated on its WeChat account that it will cooperate with authorities to clarify concerns. If the CAC carries out a security review, it could impact Intel’s sales in its significant Chinese market. Intel’s shares recently dropped 2.7% in US premarket trading.
The European Commission has determined that X, Elon Musk’s social media platform, does not qualify as a ‘gatekeeper’ under the Digital Markets Act (DMA), exempting it from additional compliance obligations. The Commission’s decision follows a May investigation initiated after X asserted it was not a key intermediary between businesses and consumers. While X meets user thresholds and turnover criteria, the Commission clarified that it does not significantly connect business users with end consumers.
Under the DMA, which took effect in 2023, companies must have at least 45 million end users and 10,000 business users in Europe, along with an annual turnover of €7.5 billion over the last three years, to be classified as gatekeepers. Major tech firms like Google, Amazon, Apple, Meta, Microsoft, and TikTok’s parent company ByteDance have already received gatekeeper status, imposing on them strict regulations to ensure fair competition and consumer choice.
Apple has faced penalties under the DMA, with the European Commission ruling in June that its App Store practices violated the regulations. While several companies, including Apple and Meta, have appealed their gatekeeper designations, X remains unaffected by these rules for now. This decision allows X more operational flexibility compared to its competitors, although it indicates that the Commission is closely monitoring the interactions between large platforms, businesses, and consumers in the digital marketplace.
Wolfspeed is set to receive $750 million in government grants for its new silicon carbide wafer manufacturing plant in North Carolina, as announced by the US Commerce Department. This funding news caused the US chipmaker’s shares to surge over 30%. The preliminary agreement requires Wolfspeed to strengthen its balance sheet to safeguard taxpayer funds.
Investment firms, led by Apollo Global Management, have pledged an additional $750 million in financing for Wolfspeed. The company produces energy-efficient chips using silicon carbide, crucial for applications like electric vehicles and renewable energy systems. As part of a larger $6 billion expansion plan, Wolfspeed aims to increase its manufacturing capacity in Marcy, New York.
Wolfspeed anticipates up to $1 billion in cash tax refunds from the advanced manufacturing tax credit under the Chips and Science Act. CEO Gregg Lowe highlighted the significance of Wolfspeed’s products to the US economy and national security. However, the company has encountered difficulties this year, with its stock plummeting nearly 75% due to a decline in electric vehicle demand. The grant remains subject to due diligence and is not yet finalised.
The US Department of Justice (DOJ) has released a significant Statement of Interest, urging scrutiny of surveys and information exchanges managed by trade associations. The DOJ expressed concerns that such exchanges may create unique risks to competition, particularly when competitors share sensitive information exclusively among themselves.
According to the DOJ, antitrust laws will evaluate the context of any information exchange to determine its potential impact on competition. Sharing competitively sensitive information could disproportionately benefit participating companies at the expense of consumers, workers, and other stakeholders. The department noted that advancements in AI technology have intensified these concerns, allowing large amounts of detailed information to be exchanged quickly, potentially heightening the risk of anticompetitive behaviour.
This guidance follows the DOJ’s withdrawal of long-standing rules that established “safety zones” for information exchanges, which previously indicated that certain types of sharing were presumed lawful. By retracting this guidance, the DOJ signals a shift toward a more cautious, case-by-case approach, urging businesses to prioritise proactive risk management.
The DOJ’s statement, made in relation to an antitrust case in the pork industry, has wider implications for various sectors, including real estate. It highlights the need for organisations, such as Multiple Listing Services (MLS) and trade associations, to evaluate their practices and avoid environments that could lead to price-fixing or other anticompetitive behaviours. The DOJ encourages trade association executives to review their information-sharing protocols, educate members on legal risks, and monitor practices to ensure compliance with antitrust laws.
Dane Stuckey, former Chief Information Security Officer (CISO) of Palantir, has been appointed as the new CISO at OpenAI, working alongside head of security Matt Knight. Stuckey made the announcement in a post on social media, expressing his excitement to help secure OpenAI’s technologies as they continue to grow in use and impact.
Stuckey, who joined Palantir in 2014, brings extensive experience in digital forensics and incident response, having worked in both commercial and government roles. His background may prove valuable as OpenAI continues to deepen its partnerships with the United States Department of Defense, with whom it has collaborated on various cybersecurity projects.
OpenAI has been expanding its security efforts in recent months, following the appointment of former National Security Agency head Gen. Paul Nakasone as a board member. The company has also lifted its ban on selling AI technology to the military, signalling a strategic shift towards government contracts.
In addition to Stuckey’s appointment, OpenAI has posted a new job listing for a head of trusted compute and cryptography, highlighting its commitment to developing secure AI infrastructure to protect its technologies and users.
