Nvidia drops after government limits exports of H20 chips to China

The government is now restricting its exports of Nvidia’s H20 chips to China — chips the company had made to bypass previous restrictions on Chinese chip exports, Bloomberg reports.

Shares of the company fell 6.2% in recent after-hours trading.

The move is part of a government effort to address concerns that “the covered products may be used in, or diverted to, a supercomputer in China.” Nvidia said the restriction could cost it $5.5 billion in charges related to the H20 line.

Nvidia Says US Has Imposed New China Restrictions on H20 Chips

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Rani Molla

Tesla shareholders approve Elon Musk’s $1 trillion pay package

The voting results were announced at Tesla’s 2025 annual shareholders meeting Thursday.

Rani Molla

14h

Microsoft falls as it lays out plan for “Humanist Superintelligence” without OpenAI

Microsoft AI’s CEO explained its vision for superintelligence that prioritizes human control.

Microsoft Celebrates Its 50th Anniversary With Copilot AI Event

Jon Keegan14h

Meta projected 10% of 2024 revenue came from scams and banned goods, Reuters reports

Meta has been making billions of dollars per year from scam ads and sales of banned goods, according internal Meta documents seen by Reuters.

The new report quantifies the scale of fraud taking place on Meta’s platforms, and how much the company profited from them.

Per the report, Meta internal projections from late last year said that 10% of the company’s total 2024 revenue would come from scammy ads and sales of banned goods — which works out to $16 billion.

Discussions within Meta acknowledged the steep fines likely to be levied against the company for not stopping the fraudulent behavior on its platforms, and the company prioritized enforcement in regions where the penalties would be steepest, the reporting found. The cost of lost revenue from clamping down on the scams was weighed against the cost of fines from regulators.

The documents reportedly show that Meta did aim to significantly reduce the fraudulent behavior, but cuts to its moderation team left the vast majority of user-reported violations to be ignored or rejected.

Meta spokesperson Andy Stone told Reuters the documents were a “selective view” of internal enforcement:

“We aggressively fight fraud and scams because people on our platforms don’t want this content, legitimate advertisers don’t want it, and we don’t want it either.”

Meta is earning a fortune on a deluge of fraudulent ads, documents show

Meta spokesperson Andy Stone told Reuters the documents were a “selective view” of internal enforcement:

“We aggressively fight fraud and scams because people on our platforms don’t want this content, legitimate advertisers don’t want it, and we don’t want it either.”

Rani Molla

AIs Wide Shut

16h

OpenAI says its AI device will be “multimodal” but doesn’t give many more details

Here’s what we know about the Jony Ive and OpenAI device so far.

$350B

Rani Molla17h

Google wants to invest even more money into Anthropic, with the search giant in talks for a new funding round that could value the AI startup at $350 billion, Business Insider reports. That’s about double its valuation from two months ago, but still shy of competitor OpenAI’s $500 billion valuation.

Citing sources familiar with the matter, Business Insider said the new deal “could also take the form of a strategic investment where Google provides additional cloud computing services to Anthropic, a convertible note, or a priced funding round early next year.”

In October, Google, which has a 14% stake in Anthropic, announced that it had inked a deal worth “tens of billions” for Anthropic to access Google’s AI compute to train and serve its Claude model.

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