Elon Musk's X faces a fine of nearly $1 million per day in Brazil for allegedly evading a ban on the service. The fine amounts to $5 million in Brazilian reals, imposed by Brazil's supreme court. The court also imposed 'joint liability' on Starlink, a satellite internet service owned by SpaceX. The suspension of X in Brazil was initially ordered by Chief Justice Alexandre de Moraes in late August, with the order upheld by a panel of justices in early September.

Source: https://search.cnbc.com/rs/search/combinedcms/view.xml?partnerId=wrss01&id=19854910

Nio, a Chinese electric car company, launched its lower-cost brand Onvo in Shanghai, China, with the first car, the L60 SUV, priced at 149,900 Chinese yuan ($21,210) with a monthly battery subscription starting at 599 yuan. The car with battery starts at 206,900 yuan, with deliveries set to begin on September 28. Nio shares briefly rose by over 3.5% in US trading after the launch.

Source: https://search.cnbc.com/rs/search/combinedcms/view.xml?partnerId=wrss01&id=19854910

The price of bitcoin rose 3.5% to $62,417.48, while Ether and Solana tokens jumped 5% and 7.5% respectively. Coinbase, a bitcoin exchange operator, advanced 4%, and MicroStrategy, a high beta play on bitcoin, gained 5%. The Federal Reserve cut interest rates by half a percentage point, leading to a broad market rally.

Source: https://search.cnbc.com/rs/search/combinedcms/view.xml?partnerId=wrss01&id=19854910

Alibaba released over 100 new open-source artificial intelligence models, known as Qwen 2.5, designed for various applications and sectors. The models have advanced capabilities in math and coding. The company aims to increase competition with domestic rivals like Baidu and Huawei, as well as US titans like Microsoft and OpenAI.

Source: https://search.cnbc.com/rs/search/combinedcms/view.xml?partnerId=wrss01&id=19854910

Jim Kavanaugh, CEO of World Wide Technology (WWT), believes that corporate leaders should be honest with employees about the impact of artificial intelligence on the workforce, as people are 'too smart' to accept that AI won't change the way they manage their work and eliminate jobs. WWT is an enterprise technology solutions provider that focuses on services such as cloud computing, IT security, data analytics, artificial intelligence, and consulting services.

Source: https://search.cnbc.com/rs/search/combinedcms/view.xml?partnerId=wrss01&id=19854910

Chinese companies are trying to develop a domestic alternative to Nvidia's chips that power artificial intelligence, but face challenges due to US sanctions and Nvidia's dominance. Nvidia's success has been driven by large cloud computing players buying its server products containing graphics processing units, or GPUs. These chips enable companies like OpenAI to train huge AI models.

Source: https://search.cnbc.com/rs/search/combinedcms/view.xml?partnerId=wrss01&id=19854910

Elon Musk's social media platform X declined to send a witness to a Senate Intelligence Committee hearing on foreign threats to elections in 2024. The hearing is scheduled for Wednesday, and top executives from Alphabet, Meta, and Microsoft are participating. Sen. Mark R. Warner, the Democratic chair of the committee, is involved. X's owner, Elon Musk, made incendiary comments about the UK riots, stating that 'civil war is inevitable'.

Source: https://search.cnbc.com/rs/search/combinedcms/view.xml?partnerId=wrss01&id=19854910

YouTube announced AI features for creators on its Shorts platform, developed by Google's DeepMind. The features, called Veo, allow creators to add AI-generated backgrounds to their videos and generate standalone, six-second video clips using written prompts. YouTube CEO Neal Mohan hopes Veo will enable creators to produce more Shorts videos with the help of AI. The Veo AI backgrounds are an upgrade over a similar feature announced by YouTube in 2023 called Dream Screen.

Source: https://search.cnbc.com/rs/search/combinedcms/view.xml?partnerId=wrss01&id=19854910

Amazon has increased the average starting pay for its hourly warehouse workers in the US to over $22 an hour, up from $20.50 an hour. The company is also making its Prime subscription service a part of employees' benefit package starting early next year. This move is part of a $2.1 billion investment this year into its third-party logistics program, which also includes a wage hike for contracted delivery drivers to roughly $22 an hour.

Source: https://search.cnbc.com/rs/search/combinedcms/view.xml?partnerId=wrss01&id=19854910

Apple's iPhone 16 Pro Max is set to hit shelves on Friday, featuring a dedicated camera button, faster MagSafe charging, and slightly larger screens. The phone's AI features, including changes to Siri, photo editing, and AI-powered options, are expected to be released later this year.

Source: https://search.cnbc.com/rs/search/combinedcms/view.xml?partnerId=wrss01&id=19854910