VOLUME 64

If you want to read about something other than politics, here’s this week’s biggest stories in tech and culture. Let’s get into it!

— Jacob Pace

Intel Posts $16.6 Billion Quarterly Loss, Its Biggest Ever

What happened: Intel reported a staggering $16.6 billion loss in its latest quarterly earnings, marking the largest loss in the company’s history. Despite significant investments, Intel continues to lose ground to rivals like NVIDIA, particularly as demand for high-performance chips surges in AI applications. To add to its challenges, Intel was recently removed from the Dow Jones Industrial Average, with NVIDIA taking its place.

The big picture: Intel’s colossal loss and its removal from the Dow Jones spotlight the challenges facing the U.S. semiconductor industry, even as the government rolls out the CHIPS Act to bolster domestic production and reduce reliance on foreign manufacturers. The CHIPS Act, a $52 billion initiative, is intended to revitalize the U.S. semiconductor industry by funding domestic manufacturing and research. However, its latest financial setback—and NVIDIA’s ascendance in the Dow—raises questions about whether government funding alone can address the structural challenges Intel faces, including production delays and its lagging position in AI technologies.

OpenAI Releases ChatGPT Search Engine, Taking on Google

What happened: OpenAI has launched a new search engine within ChatGPT, directly challenging Google’s dominance in online search. The feature, currently available to paid users, enables ChatGPT to browse the web and provide real-time information. This release is OpenAI’s latest move to transform the search experience, offering AI-driven answers instead of traditional link-based results.

What’s next: If OpenAI gains traction in this space, it could alter Google’s longstanding grip on search. OpenAI is expected to broaden access to this feature and refine its algorithms to improve accuracy—a key factor in competing with Google’s well-established infrastructure. Google's potential response will be closely watched, as it could accelerate their own AI search developments.

NVIDIA in Talks with Elon Musk to Invest in xAI

What happened: NVIDIA is reportedly in discussions with Elon Musk to invest in his new AI venture, xAI. This partnership would combine NVIDIA’s expertise in AI chips with Musk’s ambition to build a competitive AI platform, putting xAI in a stronger position to challenge OpenAI and Google DeepMind.

Why it matters: NVIDIA’s chips are crucial to the development of AI technologies, providing the computing power that drives complex AI models. Partnering with xAI would deepen NVIDIA’s role in the AI ecosystem, while offering Musk a technological advantage that could expedite xAI’s growth.

Meta Extends Ban on New Political Ads After Election Day

What happened: Meta announced it will extend its ban on new political ads beyond Tuesday, a move aimed at curbing the spread of misinformation even past the election. During the restriction period, Meta will disallow new political ads. However, previously served ads with at least one impression before the ban's implementation will continue to run.

Why it matters: Meta’s ad ban reflects growing concerns about the role of social media in shaping public opinion. With polarization at an all-time high and trust in social platforms waning, Meta’s decision underscores the complex balance between political advertising and content moderation.

That’s all for this week! See you next time.