Tag Archives: Elon Musk

The World’s Richest Man Is Helping Lotus Go Public

Photo: Lotus

Elon Musk is no longer the world’s richest man, according to Forbes. Bernard Arnault, the chairman of LVMH — the conglomerate behind luxury brands like Louis Vuitton, Hennessy, Bulgari, and lots of other brands you see at overpriced airport boutiques — is. Bloomberg said Tuesday that a firm tied to LVMH will be merging with Lotus to take the carmaker public, presumably emboldened by Porsche going public in September. This might, on paper, pit the world’s two richest people against each other in a battle for the EV future of the world, since Lotus is all-in on EVs now, but that seems more like a fun thought exercise than reality.

That’s in part because Tesla and Geely-owned Lotus are trying to do different things. Tesla is trying to scale up to selling millions and millions of EVs, while Lotus is trying to scale up to merely selling thousands of cars. Further, Elon Musk is a bit more involved with his car company (despite the ongoing misadventure with Twitter) than Arnault would be. Bloomberg describes the firm Lotus is merging with, L Catterton Asia Acquisition Corp, as, “the private equity operations of Arnault’s luxury-goods powerhouse LVMH [that] combined with the US investment firm Catterton in 2016,” which makes it sound like something that the world’s richest man probably forgot existed.

At any rate, L Catterton Asia Acquisition Corp is actually only merging with Lotus Tech, which is the EV part of Group Lotus. Lotus Tech is making the Eletre, the SUV you see above, which it calls “the world’s first electric hyper-SUV.” Reuters also says that entities that already own Lotus Tech, which is mostly Geely and a few other shareholders, will keep their stakes in Lotus Tech, and that stake will amount to 89.7 percent of the company after the merger with L Catterton Asia Acquisition Corp.

Which makes me think that this is mostly a cash grab. Though, if you’ve ever dreamed of owning stock in Lotus, this could be your big chance. Reuters says that the combined company will list on the Nasdaq exchange, with the ticker symbol “LOT.” Someday, somebody might even get around to mentioning it to the world’s richest man.

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Is Elon Musk about to hand over Twitter to Mr Beast?

Is there another change of ownership in the works at Twitter?

Social media users have been speculating about Elon Musk and a possible handover to YouTuber Mr Beast, after the pair began changing their own usernames this week.

It all started last month, when Mr Beast showed an interest in becoming CEO of the platform.

Back in December, Mr Beast wrote: “Can I be the new Twitter CEO?”

Musk did little to stop the speculation by writing: “It’s not out of the question.”

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Now, things have taken another turn after Mr Beast changed his Twitter bio, updating it from “I want to make the world a better place before I die.”

It was first changed to “Twitter Official CEO”, and now it reads: “Twitter Super Official CEO”.

The alteration came at the same time as Musk changed his name on the site – and found himself unable to change it back.

Could we really see the YouTuber in charge of Twitter?Getty/MrBreast

The Twitter CEO edited his name to ‘Mr. Tweet’ and removed his bio, before taking to the platform on Wednesday (25 January) to express that “Twitter won’t let me change it back”.

While many are speculating about Mr Beast eyeing up a bid for the platform, others believe instead that there’s a YouTube video on the way which will explain everything.

TNA Kirsh posted a tweet speculating that there’s a clip titled “I became the Twitter CEO for a day” or similar on the way – and Mr Beast himself liked it.

Whatever happens, be sure to watch this space.

Since Musk acquired Twitter in 2022 he’s made some big changes to the social media platform, including adding different timelines, similar to Instagram and TikTok.

Now users have a “for you” page and a “following” page so they’re able to discover new tweets from people they don’t follow or switch to a timeline of only tweets from people they follow – but here’s how to fix it.

Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.



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Elon Musk meets with House Speaker Kevin McCarthy and Hakeem Jeffries



CNN
 — 

Twitter and Tesla CEO Elon Musk met with House Speaker Kevin McCarthy and Democratic leader Hakeem Jeffries at the US Capitol in Washington on Thursday evening.

McCarthy, leaving the meeting with Musk in his office, declined to comment other than to say: “He came for my birthday.” The California Republican turned 58 on Thursday.

After the meeting, Musk wrote on Twitter that he met with McCarthy and Jeffries “to discuss ensuring that this platform is fair to both parties.”

The meeting between Musk and congressional leaders comes as the House Oversight Committee is planning to hold a hearing next month focused on Twitter and how it handled a story about Hunter Biden’s laptop. The House GOP conference members have promised rigorous oversight into big tech and social media platforms, which they have accused of conservative censorship.

The panel invited three former Twitter employees to testify, and is in active discussions with the trio about appearing in front of the committee, according to multiple sources familiar with the matter. The committee is looking at February 8 as a potential target date for the hearing, the sources said.

The manner in which Twitter handled the Hunter Biden laptop story has been the subject of several so-called Twitter Files reports, corporate communications that have been disseminated to journalists hand-picked by Musk and his team at Twitter. The Twitter Files have shown the company’s moderation team agonized over how to handle initial stories about the saga. Although early news reports were blocked or downplayed, the company quickly reversed course and allowed them to be posted and discussed on the platform.

Musk has developed a reputation as a polarizing figure in the tech industry and for his political views. He has frequently weighed in publicly on US policy and the political landscape in recent months. Musk has said that he has voted for Democrats and Republicans in the past but has recently favored conservatives and says he identifies as Republican.

The meeting comes amid a political power shift in Washington after Republicans took control of the House of Representatives in January and elected McCarthy as speaker.

This story and headline have been updated with additional developments.

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Latest news on Russia and the war in Ukraine

Training for Abrams tanks will take place outside of Ukraine, White House says

White House Press Secretary Karine Jean-Pierre (L) listens as National Security Council Coordinator for Strategic Communications John Kirby speaks during the daily briefing in the James S Brady Press Briefing Room of the White House in Washington, DC, on August 1, 2022.

Jim Watson | AFP | Getty Images

National Security Council spokesman John Kirby said the Pentagon’s upcoming training for Ukrainians using the M1A1 Abrams tanks will take place outside of Ukraine.

Kirby said the U.S. has not yet decided on a specific location or timing for the training.

He also said that the Pentagon does not have extra tanks to pull from its current arsenal to provide for Ukraine.

“We just don’t have them,” Kirby said, adding that “even if there were excess tanks it would still take many months anyway.” He also declined to provide a timeline of when the M1A1 Abrams tanks would be ready for Ukrainian forces.

— Amanda Macias

Swiss panel seeks to allow re-exports of its weaponry to Ukraine

The Swiss Parliament in Bern, Switzerland.

Fabrice Coffrini | AFP | Getty Images

A parliamentary panel in Switzerland has recommended waiving a law that bars countries from re-exporting Swiss armored vehicles, weapons and other war material to Ukraine for its defense against Russia, insisting the move would not violate the country’s much-vaunted neutrality.

The Security Policy Committee of the lower house of Switzerland’s parliament voted 14-11 Tuesday to allow a re-export exception for cases involving a use of force that violates international law — notably, Russia’s invasion of Ukraine 11 months ago.

Adherence to the concept of neutrality is enshrined in the Swiss constitution. The National Council committee’s vote amounts to only a small first step, and it remains far from certain whether the government would authorize such a waiver.

“The majority of the committee believes Switzerland must offer its contribution to European security, which requires more substantial aid to Ukraine,” the committee said in a statement. It insisted the proposed changes “respect the law of neutrality” because they would not involve direct exports of Swiss war materiel to conflict zones.

— Associated Press

Kremlin expresses alarm over ‘Doomsday Clock,’ blames U.S. and NATO

The 2023 Doomsday Clock is displayed before a live-streamed event with members of the Bulletin of the Atomic Scientists on January 24, 2023 in Washington, DC.

Anna Moneymaker | Getty Images

The Kremlin expressed alarm that the “Doomsday Clock” had edged closer to midnight than ever, even though the scientists who moved the symbolic dial cited Moscow’s own “thinly veiled threats” to use nuclear weapons.

The “Doomsday Clock,” created by the Bulletin of the Atomic Scientists to illustrate how close humanity has come to the end of the world, on Tuesday moved its “time” in 2023 to 90 seconds to midnight, 10 seconds closer than it has been for the past three years.

Midnight on this clock marks the theoretical point of annihilation. The clock’s hands are moved closer to or further away from midnight based on scientists’ reading of existential threats at a particular time.

“The situation as a whole is really alarming,” Kremlin spokesman Dmitry Peskov told reporters, calling for a sober appraisal of the tensions between Russia and the West over the Ukraine crisis.

He said there was no prospect of any detente, based on “the line that was chosen by NATO under U.S. leadership.”

“This imposes on us a duty to be particularly careful, to be alert and to take appropriate measures,” he added.

On Tuesday, the Bulletin’s president cited repeated warnings by President Vladimir Putin and other Russian politicians that Moscow might be prepared to use nuclear weapons as a key factor in the decision to advance the dial of the “Doomsday Clock.”

— Reuters

Germany to send Starlink internet terminals to Ukraine

The Starlink photo is seen on a mobile device with Ukraine on a map in the background in this illustration photo in Warsaw, Poland on 21 September, 2022.

STR | Nurphoto | Getty Images

Ukraine’s Deputy Prime Minister for Digital Transformation Mykhailo Fedorov said on Telegram that Germany plans to transfer a batch of Starlink terminals to Kyiv.

Starlink, the satellite internet arm of Elon Musk’s SpaceX, has been crucial in keeping Ukraine’s military online during the war against Russia, even as communication infrastructure gets destroyed.

Last year, Musk reversed his previous decision to cut off funding for Starlink in Ukraine.

“The hell with it,” the billionaire later tweeted, “even though Starlink is still losing money & other companies are getting billions of taxpayer $, we’ll just keep funding Ukraine govt for free.”

— Amanda Macias

State Department denies reports outlining riff between Washington and Berlin over tanks for Ukraine

U.S. State Department spokesman Ned Price holds a press briefing on Afghanistan at the State Department in Washington, August 16, 2021.

Kevin Lamarque | Reuters

The State Department downplayed reports that Germany and the U.S. were at odds over whether to provide Ukraine with Leopard 2 and M1A1 Abrams tanks.

“Time and again, Germany has proven itself as a stalwart ally of the United States,” Price said, adding that Berlin and Washington have only had constructive discussions in the weeks leading up to the separate security assistance announcements.

Earlier on Wednesday, German Chancellor Olaf Scholz announced that Berlin would provide Ukraine with Leopard 2 tanks.

Germany said its goal was to “quickly assemble two tank battalions with Leopard 2 tanks for Ukraine.” The country will supply 14 Leopard 2 A6 tanks in what it called a “first step.”

— Amanda Macias

Zelenskyy thanks Biden for Abrams tanks decision

Ukrainian President Volodymyr Zelenskyy thanked U.S. President Joe Biden for his decision to provide Kyiv with 31 Abrams tanks as well as training and maintenance support.

Zelenskyy said the transfer of M1A1 Abrams tanks is, “an important step on the path to victory.”

“Today the free world is united as never before for a common goal – liberation of Ukraine,” he added.

— Amanda Macias

A look at Biden’s latest security package for Ukraine

U.S. M1A2 “Abrams” tank moves to firing positions during U.S. led joint military exercise “Noble Partner 2016” near Vaziani, Georgia, May 18, 2016.

David Mdzinarishvili | Reuters

The Biden administration approved a $400 million in fresh military aid for Ukraine that will include 31 U.S.-made M1A1 Abrams tanks.

Here’s a look at the latest package which brings U.S. commitment to $27.1 billion since Russia’s invasion nearly a year ago:

The capabilities in this package include:

•             31 Abrams tanks with 120mm rounds and other ammunition

•             8 tactical vehicles to recover equipment

•             Support vehicles and equipment

•             Funding for training, maintenance, and sustainment

— Amanda Macias

Biden spoke with German, French, British and Italian counterparts ahead of tank decision

The White House said that President Joe Biden spoke with his counterparts from Germany, France, Italy and the United Kingdom ahead of his announcement that Washington was ready to provide Ukraine with M1A1 Abrams tanks.

The addition of the U.S. tanks to the latest military aid package follows German Chancellor Olaf Scholz’s decision to provide Ukraine with Leopard 2 tanks.

Germany said its goal was to “quickly assemble two tank battalions with Leopard 2 tanks for Ukraine.” The country will supply 14 Leopard 2 A6 tanks in what it called a “first step.”

— Amanda Macias

U.S. will send Abrams tanks to Ukraine ahead of expected Russian offensive

A M1A2 SEP (V2) Abrams Main Battle Tank being unloaded in

Staff Sgt. Grady Jones | U.S. Army | Flickr CC

The Biden administration said it will equip Ukraine with the mighty M1A1 Abrams tank, a key reversal in the West’s effort to arm Kyiv as it prepares for a fresh Russian offensive.

The 31 M1A1 Abrams tanks, which amount to one Ukrainian tank battalion, will expand on the more than $26 billion the U.S. has committed to Kyiv’s fight since Russia invaded nearly a year ago.

The U.S. plans to purchase the new M1s using funds from the congressionally approved Ukraine Security Assistance Initiative.

It will “take some time” for the tanks to be delivered to Ukraine, a senior Biden administration official said Wednesday. “We are talking months as opposed to weeks,” said the official, who spoke on the condition of anonymity.

Read the full story here.

— Amanda Macias

Ukraine forces pull back from Donbas town after onslaught

Ukrainian tankers carry out maintenance on their tanks on the Donbas frontline.

Anadolu Agency | Anadolu Agency | Getty Images

Ukrainian forces have conducted an organized retreat from a town in the eastern region of the Donbas, an official said, in what amounted to a rare but modest battlefield triumph for Russia after a series of setbacks in its invasion that began almost 11 months ago.

The Ukrainian army retreated from the salt mining town of Soledar to “preserve the lives of personnel,” Serhii Cherevatyi, a spokesperson for Ukraine’s forces in the east, told The Associated Press.

The soldiers pulled back to previously prepared defensive positions, he said. Russia claimed almost two weeks ago that its forces had taken Soledar, but Ukraine denied it.

Moscow has portrayed the battle for the town not far from the Donetsk province city of Bakhmut, as key to capturing all of Ukraine’s Donbas region, where Russia-backed separatists have fought Ukrainian troops for almost nine years and controlled some territory before Russia’s full-scale invasion.

Russian President Vladimir Putin cited the safety of ethnic Russians living in Donetsk and neighboring Luhansk province, which together make up the Donbas, as justification for the invasion. Putin illegally annexed the Ukrainian provinces and two others in late September.

The withdrawal of Ukraine’s troops from Soledar takes the Russian forces a step closer to Bakhmut, but military analysts say the town’s capture is more symbolic than strategic. The fighting in eastern Ukraine has stood mostly at a stalemate for months.

— Associated Press

Russia furious that Western tanks will be given to Ukraine

Russia’s President Vladimir Putin speaks on the phone during a conversation with Agatha Bylkova from the Kurgan region, an 8-year-old participant of a New Year’s and Christmas charity event, in Moscow, Russia, January 3, 2023. 

Mikhail Klimentyev | Sputnik | Via Reuters

Russia expressed mounting fury at the prospect of modern Western tanks being sent to Ukraine, calling it “extremely dangerous” and saying previous “red lines” were now a thing of the past.

Germany announced earlier Wednesday that it was ready to send 14 Leopard 2 battle tanks to Ukraine, and to allow other countries to send their own German-made tanks to Kyiv. The U.S. is also expected to announce imminently its own intention to send Abrams tanks to Ukraine.

The Russian Embassy in Berlin called the German government’s decision “extremely dangerous” and said it “takes the conflict to a new level of confrontation” while the foreign ministry warned that “red lines” were a “thing of the past” as it slammed what is saw as the West waging a “hybrid war” against Russia.

The use of modern Western tanks by Ukraine is likely to add momentum to its efforts to push Russian forces out of occupied areas of the country, particularly the eastern Donbas region, but Russia sees the gift of tanks as further evidence that the West is fighting what it sees as a proxy war against it in Ukraine.

Read more on the story here.

— Holly Ellyatt

Norway police release former Wagner commander from detention

Norwegian police said on Wednesday they would not seek to intern a former commander of Russia’s Wagner mercenary group who recently fled to Norway, ordering him instead to stay at a secret location for security reasons.

Andrei Medvedev fled Russia by crossing into Norway on Jan. 13. He has said he fears for his life after witnessing what he said was the killing and mistreatment of Russian prisoners brought to the front lines in Ukraine to fight for Wagner.

On Monday police said he was detained by immigration police and held at the Trandum immigration detention centre outside Oslo, due to “disagreement” about measures taken to ensure his safety.

Trandum is where asylum seekers who have been turned down are held before they are deported. Police have denied suggestions Medvedev might be deported to Russia.

A pedestrian walks past a mural depicting the logo of the Russian mercenary ‘Group Wagner’ and a slogan in Russian by the informal pro-Russia organisation ‘Narodna Patrola (lit.: People Patrol), on January 20, 2023 in Belgrade, Serbia.

Srdjan Stevanovic | Getty Images

“The police’s immigration unit releases Medvedev from … Trandum under an order to be at a specific place of residence,” police said in an emailed statement to Reuters.

Police had until Wednesday to decide whether to seek a court order to intern him.

Medvedev’s Norwegian lawyer, Brynjulf Risnes, was not immediately available for comment.

On Monday, Risnes had said Medvedev had been detained due to “disagreement” about measures taken to ensure his safety and said that there was “zero chance” he would be deported to Russia.

— Reuters

Zelenskyy expresses gratitude to Germany for tanks

Ukraine’s President Volodymy Zelenskyy thanked Germany and Chancellor Olaf Scholz for its decision to send Leopard 2 tanks to Ukraine, and to allow other countries to re-export their own German-made tanks.

“German main battle tanks, further broadening of defense support & training missions, green light for partners to supply similar weapons. Just heard about these important & timely decisions in a call with @OlafScholz,” Zelensyy said on Telegram, adding that he was “sincerely grateful” to the chancellor and Germany for the decision.

Ukrainian Prime Minister Denys Shmyhal also expressed his thanks to Berlin, saying Ukraine now expected “to involve a wide range of partners in the tank coalition in order to obtain as many tanks as possible in the shortest possible time.”

Ukrainian President Volodymyr Zelenskiy, France’s President Emmanuel Macron and German Chancellor Olaf Scholz meet for a working session in Mariinsky Palace, in Kyiv, Ukraine June 16, 2022.

Ludovic Marin | Reuters

Germany released a statement on the phone call between President Zelenskyy and Chancellor Scholz earlier today, saying the leaders had “exchanged views on the political, military and humanitarian situation in Ukraine.”

 “The Chancellor reiterated unwavering solidarity with Ukraine in the face of Russian Federation’s aggression and announced that Germany will continue to increase military support to Ukraine in close coordination with European and international partners,” the statement read.

— Holly Ellyatt

Ukrainian official confirms retreat from Soledar

A Ukrainian multiple-launch rocket system is hiding among the trees near Soledar as the fighting in the Donbas region continues.

Sopa Images | Lightrocket | Getty Images

An official has confirmed that Ukrainian forces have withdrawn from the town of Soledar in Donetsk but said they had done so to save personnel.

Speaking to NBC News, Serhii Cherevatyi, spokesperson of the Eastern Group of Ukrainian Armed Forces, said the withdrawal had taken place “in order to preserve the lives of the personnel, the Defense Forces moved away from Soledar and are now staying on previously prepared defense lines.”

Cherevatyi said the defenders of Soledar, where fighting has been intense for weeks, had performed a “real feat” holding their positions in the town and inflicting “huge losses” on Russia, given they were fighting Russian forces that that were up to five times larger.

—  Holly Ellyatt

Netherlands also prepared to supply battle tanks to Ukraine, PM says

Europe needs to do more to support Ukraine, according to the Dutch prime minister.

Bloomberg / Contributor / Getty Images

The Netherlands is prepared to deliver battle tanks to Ukraine if needed, Dutch Prime Minister Mark Rutte said on Wednesday.

“If a contribution from the Netherlands helps, we are prepared to do so,” Rutte told Dutch broadcaster RTL.

Rutte said the Netherlands could opt to buy tanks it currently leases from Germany, and supply those to Ukraine.

— Reuters

Germany’s tank decision welcomed by allies

A Leopard 2 tank is seen during a visit of German Chancellor Angela Merkel to NATO’s new spearhead force “VJTF 2019” in Munster, Germany May 20, 2019. 

Fabian Bimmer | Reuters

Germany’s decision to offer a number of its Leopard 2 tanks to Ukraine, and to allow other countries with the same weaponry to send their own stocks to Kyiv, has been greeted positively.

Poland’s Prime Minister Mateusz Morawiecki hailed the move as a “big step.” Poland had already sent a request to Germany on Tuesday asking if it could send 14 of its own German-made Leopards to Ukraine before Berlin’s announcement.

German Finance Minister Christian Lindner wrote on Twitter that battle tanks for Ukraine would strengthen the country and said “it is an important step that the US participates alongside the #Leopard.”

Meanwhile, the vice president of the German Bundestag and Greens member, Katrin Goering-Eckardt, tweeted “the Leopard’s freed” and that “hopefully now it can quickly help Ukraine in its fight against the Russian attack and for the freedom of Ukraine and Europe.”

The U.K.’s defense secretary also said he was “delighted” at Germany’s decision.

There has been no official response from Ukraine’s president yet but Kyiv will be pleased with Germany’s decision as it paves the wave for other allies to send their own German-made tanks to Ukraine.

Andriy Yermak, head of the Office of the President of Ukraine, simply tweeted a leopard emoji.

— Holly Ellyatt

Germany announces it will send 14 of its Leopard 2 battle tanks to Ukraine

German Chancellor Olaf Scholz delivers a speech in front of a Leopard 2 tank during a visit to a military base of the German army Bundeswehr in Bergen, Germany, October 17, 2022. 

Fabian Bimmer | Reuters

Germany has announced that it is ready to send 14 of its own tanks to Ukraine and to allow others to do so, in an U-turn from its previous position.

Germany Chancellor Olaf Scholz announced on Wednesday that Germany will provide Ukraine with 14 Leopard 2 tanks out of its own Bundeswehr (German armed forces) stocks.

Here is the statement from the Germany government, translated by NBC News:

Chancellor Olaf Scholz announced in the cabinet on Wednesday that Germany will continue to increase military support for Ukraine. The federal government has decided to provide the Ukrainian armed forces with Leopard 2 main battle tanks. This is the result of intensive consultations that took place with Germany’s closest European and international partners.

“This decision follows our well-known line of supporting Ukraine to the best of our ability. We are acting in a closely coordinated manner internationally,” said the Chancellor in Berlin.

The goal is to quickly assemble two tank battalions with Leopard 2 tanks for Ukraine. As a first step, Germany will provide a company with 14 Leopard 2 A6 tanks from Bundeswehr stocks. Other European partners will also hand over Leopard-2 tanks. The training of the Ukrainian units is to begin quickly in Germany. In addition to training, the package will also include logistics, ammunition and system maintenance.

Germany will issue the appropriate transfer permits to partner countries that want to quickly deliver Leopard 2 tanks from their stocks to Ukraine.

— Holly Ellyatt

Relentless Russian shelling of Ukraine continues as tanks are in focus

Ukrainian soldiers are seen on their ways to frontlines with their armoured military vehicles as the strikes continue on the Donbas frontline.

Anadolu Agency | Anadolu Agency | Getty Images

While international news headlines are focusing on the issue of tanks for Kyiv, the country continues to experience missile strikes on the north, northeast, east and south.

The General Staff of the Armed Forces of Ukraine reported Wednesday that Russian forces had launched four missile and 26 air strikes over the past 24 hours and more than 100 strikes using multiple launch rocket systems, an update noted.

There had been “multiple attacks” by Russia in the Luhansk and Donetsk regions of eastern Ukraine, the updated noted.

“The threat of Russian air and missile attacks remains high across Ukraine,” the update said, adding that “despite numerous losses, Russia does not cease attempts to advance on Lyman, Bakhmut, Avdiivka and Novopavlivka axes. However, the enemy stays on the defensive on Kup’yans’k, Zaporizhzhia, and Kherson axes.”

Other regional officials reported shelling in Kherson city and the rest of the southern region, with Yaroslav Yanushevych, the head of the Kherson regional military administration reporting on Telegram that the region was shelled 52 times yesterday, and that shells had hit a maternity hospital, school, polyclinic, seaport and residential building, leaving one civilian dead and six others injured.

In Kharkiv in northeast Ukraine, the Head of the Regional Military Administration Oleh Synehubov said on Telegram a number of settlements have been shelled overnight and early Wednesday morning, causing damage to residential and industrial areas and injuring two people.

The State Border Guard Service of Ukraine said Wednesday that the northern border regions of Sumy and Chernihiv had been shelled the previous day.

CNBC was unable to immediately verify the information.

— Holly Ellyatt

U.S. tanks for Ukraine would be seen as a ‘blatant provocation,’ Russian official says

Russian Ambassador to the United States Anatoly Antonov speaks during a discussion about the legacy of Anatoly Dobrynin on Nov. 18, 2019, in Washington, DC.

Mark Wilson | Getty Images News | Getty Images

A top Russian official has said that any delivery of American tanks to Ukraine would be seen as “another blatant provocation” by the West.

“If the United States decides to supply tanks, it will be impossible to justify such step using arguments about ‘defensive weapons’,” Russia’s Ambassador to the United States Anatoly Antonov said on Telegram Wednesday.

“This would be another blatant provocation against the Russian Federation. No one should have illusions about who is the real aggressor in the current conflict,” he claimed.

The U.S. is expected to announce soon that it will send a number of M1 Abrams tanks to Ukraine, with Germany expected to say Wednesday that it is ready to send Leopard 2 tanks. The decision to send tanks comes after months of requests from Kyiv, and as Russia is expected to launch new offensives in Ukraine in spring.

The Russian ambassador to the U.S. is a vocal critic of the West, claiming that “Washington is deliberately trying to inflict strategic defeat on us.” He said American tanks would be “destroyed as all other samples of NATO military equipment.”

Ukraine’s NATO allies have supported Ukraine throughout the war with billions of dollars’ worth of military and financial aid, fearing that a victory for Russia in Ukraine could only spur on Moscow’s apparently expansionist aims in other former Soviet republics like Georgia and Moldova.

— Holly Ellyatt

Missing British aid workers confirmed to have died in Ukraine

Two British aid workers have died in Ukraine as they attempted to evacute civilians from a fighting hot spot in eastern Ukraine.

Chris Parry, 28, and Andrew Bagshaw, 47, were reported missing on Jan. 7. They were last seen heading to the town of Soledar in Donetsk that was under intense attack by Russian forces and later captured.

A statement issued by Parry’s family Tuesday confirmed their deaths, saying the men had been killed “whilst attempting a humanitarian evacuation from Soledar, eastern Ukraine.” A statement issued by Bagshaw’s family, and reported by Sky News, said the pair’s car was hit by an artillery shell while they were attempting to rescue an elderly woman. Both families praised the men’s bravery and selflessness.

Destroyed buildings in Donetsk Oblast, Ukraine, on Nov. 20, 2022.

Diego Herrera Carcedo/ | Anadolu Agency | Getty Images

Concerns over the men’s safety were raised after the Russian private military company known as the Wagner Group said soon after the pair went missing that it had found the body of one of the aid workers and showed images of the men’s British passports on the messaging app Telegram.

— Holly Ellyatt

Russia is ‘preparing for a new wave of aggression,’ Zelenskyy says

Soldiers prepare to head out near the Bakhmut front lines with Russia on Jan. 22, 2023 in Chasov Yar, Ukraine. Russia has stepped up its offensive in the Donetsk region in the new year, with the region’s Kyiv-appointed governor accusing Russia of using scorched-earth tactics.

Spencer Platt | Getty Images News | Getty Images

Russia is preparing for new offensives in Ukraine, with increased activity already seen in the Donbas region of eastern Ukraine, President Volodymyr Zelenskyy said Tuesday.

“Russia is preparing for a new wave of aggression – with the forces it can mobilize,” Zelenskyy warned in his nightly address. 

“Now the occupiers are already increasing the pressure around Bakhmut and Vuhledar and other directions. And they want to increase the pressure on a larger scale,” Zelenskyy said, adding that Russia wants to “throw more of their people and equipment into combat operations.”

There has been intense fighting around Bakhmut in Donetsk for months. Capturing the town is a strategic goal for Russian forces wanting to seize the entire Donetsk region and neighboring Luhansk, which together make up the Donbas. Russian forces have claimed several tactical advances in Donetsk in recent weeks, including the capture of Soledar.

Holly Ellyatt

Ukraine says it needs a decision on tanks

After more indecision from Ukraine’s allies regarding the delivery of tanks to Kyiv, President Volodymyr Zelenskyy said Tuesday that allies need to decide on whether they will deliver modern battle tanks to Ukraine.

“There is a lot of talk about tanks. About the modern tanks that we need. And about how this deficit can be filled. A lot of efforts, words, promises,” Zelenskyy said in his nightly address Tuesday.

“But it is important to see the reality: it is not about five, or ten, or fifteen tanks. The need is greater. We are doing what is necessary every day to fill the deficit … However, discussions must be concluded with decisions. Decisions on real strengthening of our defense against terrorists,” as Ukraine labels Russia’s leadership.

“Allies have the required number of tanks. When the weight of decisions is necessary, we will be happy to thank you for each weighty decision,” he said.

Boris Pistorius (right) German defense minister, and Jens Stoltenberg, NATO secretary general, give a press conference at the German Defense Ministry after a joint meeting on Jan. 24, 2023.

Picture Alliance | Picture Alliance | Getty Images

Germany’s defense minister said Tuesday morning that the country’s position had not changed regarding the sending of German-made tanks to Ukraine, but by the evening there were reports suggesting a U-turn in Berlin, with Chancellor Olaf Scholz expected to make a formal announcement Wednesday. In the U.S. too, reports suggested Washington was also ready to send M1 Abrams tanks.

Whether the number of tanks that are provided is enough is another matter, however. Ukraine previously said it needs hundreds of tanks to stave off Russia’s ongoing invasion “not 10-20,” as one presidential advisor said earlier this week.

— Holly Ellyatt

Biden administration preparing to send Abrams tanks to Ukraine, officials tell NBC News

U.S. soldiers fire from an M1 Abrams main battle tank.

Picture Alliance | Picture Alliance | Getty Images

The Biden administration is preparing to send Abrams tanks to Ukraine, three senior U.S. officials tell NBC News.

The decision to equip Kyiv with the weapons platform could come as early as Wednesday, the officials said, adding that the exact number of tanks in the administration’s latest security package was still under deliberation.

What’s more, the mighty M1A1 tanks will not be available to the Ukrainians for several months due to the colossal logistics and training requirements.

Read the full story from NBC News here.

— Amanda Macias

U.S. reiterates support for Finland, Sweden joining NATO

U.S. State Department spokesperson Ned Price speaks during a news conference in Washington, U.S. March 10, 2022.

Manuel Balce Ceneta | Reuters

The Biden administration reiterated its support for both Finland and Sweden joining NATO at the earliest opportunity, after Helsinki said a pause was needed in trilateral talks with Turkey on the Nordic countries’ application to join the military alliance.

State Department spokesperson Ned Price was repeatedly asked at a news briefing whether Washington would support Finland’s possible accession without Sweden, but declined to comment on what he called a “hypothetical” and not a “live question right now.”

“This has always been a discussion about Finland and Sweden… (about) moving from an alliance of 28 to an alliance of 30. That’s what we want to see happen,” Price said, adding that Finland joining NATO separately “is just a question that we’re not entertaining.”

Turkey’s president said Sweden should not expect his country’s support after a protest near the Turkish Embassy in Stockholm at the weekend, which included the burning of a copy of the Koran.

— Reuters

Replacing weapons NATO allies sent to Ukraine could yield $21.7 billion in U.S. defense sales

Ukraine was already stocking up on U.S.-made Javelins before Russia invaded. Here a group of Ukrainian servicemen take a shipment of Javelins in early February, as Russia positioned troops on Ukraine’s border.

Sergei Supinsky | AFP | Getty Images

Replacing weapons and other equipment NATO countries sent to Ukraine could lead to nearly $22 billion in sales for the U.S. defense industry, according to a report from the think tank Foundation for Defense of Democracies.

The FDD’s Center on Military and Political Power also said that restoring the NATO allies’ arsenals could also lower the Pentagon’s cost of obtaining weapons.

“It would also enhance the quality of the weapons U.S. warfighters wield and strengthen U.S. defense industrial base capacity,” the authors of the report added.

— Amanda Macias

Read CNBC’s previous live coverage here:



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Elon Musk Explores Raising Up to $3 Billion to Help Pay Off Twitter Debt

Elon Musk

‘s team has been exploring using as much as $3 billion in potential new fundraising to help repay some of the $13 billion in debt tacked onto Twitter Inc. for his buyout of the company, people familiar with the matter said.

In December, Mr. Musk’s representatives discussed selling up to $3 billion in new Twitter shares, people familiar with the matter said.

Mr. Musk’s team has said to people familiar with the finances of the company that an equity raise, if successful, could be used to pay down an unsecured portion of the debt that carries the highest interest rate within the $13 billion Twitter loan package, people familiar with the matter said.

Paying off the debt would provide welcome financial relief to Twitter, which has struggled to keep advertisers on the platform. In November, Mr. Musk said Twitter had suffered “a massive drop in revenue” and was losing over $4 million a day. He also said that month that bankruptcy was a possibility for the company, although Mr. Musk later shared more upbeat prospects for the company, saying he expects Twitter to be roughly cash-flow break-even in 2023 as he has slashed some 6,000 jobs.

The state of the fundraising talks couldn’t be learned. In mid-December, Mr. Musk’s team reached out to new and existing backers about raising new equity capital at the original Twitter takeover price.

Mr. Musk’s advisers had hoped to reach a deal to raise cash at the initial takeover price by the end of 2022, according to an email sent to prospective investors at the time. However, some prospective backers said they balked at the terms, given concerns about Twitter’s financial performance. The Musk team didn’t specify a funding amount or purpose for the fundraise in the email.

Fidelity, one of the co-investors that backed Mr. Musk’s takeover of Twitter, wrote down its stake in Twitter by 56% in November, public filings show, suggesting Mr. Musk would face an uphill battle raising funds at the original valuation from outside investors. The banks holding the $13 billion in debt that backed his takeover of the company haven’t yet received any formal notice of any repayments, people familiar with the matter said.

Layoffs Across the Tech Industry

Representatives for Mr. Musk didn’t respond to requests for comment.

Twitter’s unsecured bridge loans, which total $3 billion, are the most expensive portion of the $13 billion debt package Mr. Musk incurred as part of his $44 billion acquisition of the social-media company. They carry an interest rate of 10% plus the secured overnight financing rate, a benchmark interest rate that has shot up in recent months and currently sits at 4.3%.

With every quarter that passes without Twitter refinancing the debt, the interest rate goes up by an additional 0.50 percentage point, according to regulatory filings. Twitter’s first quarterly interest payment is due at the end of the month, the filings show.

Twitter’s annual interest burden has increased by over $100 million since he announced the takeover deal last April, as the overnight rate has increased. At the time of the announcement, the overnight rate was 0.3%.

Elon Musk has said that Twitter is losing over than $4 million a day.



Photo:

Marlena Sloss/Bloomberg News

Twitter’s total interest expense has been estimated to be roughly $1.25 billion a year, according to a December analysis by

Jeffrey Davies,

a former credit analyst and founder of data provider Enersection LLC. By that estimate, Twitter is incurring roughly $3.4 million every day in interest-payment obligations.

On Dec. 13, Mr. Musk tweeted “beware of debt in turbulent macroeconomic conditions, especially when Fed keeps raising rates.”

Repaying the unsecured bridge loans would leave Twitter with a debt burden that has much more manageable interest rates. Twitter’s $6.5 billion in term loans and $3 billion in secured bridge loans carry an annual interest burden of 4.75% and 6.75%, respectively, plus the overnight rate, according to public filings.

Tesla CEO Elon Musk is set to testify in a federal trial over tweets from 2018 in which he floated the possibility of taking the company private. WSJ’s Rebecca Elliott explains what to know about the trial. Illustration: Adele Morgan

A potential deal would also provide a degree of relief for the banks that backed Mr. Musk’s takeover of the social-media company and that intended to sell the debt to third-party investors but changed course after deteriorating market conditions sank Wall Street’s appetite for exposure to risky bonds and loans.

The $13 billion of Twitter debt on bank balance sheets, one of the biggest “hung deals” of all time, has helped contribute to a drag in the number of mergers and acquisitions as banks’ firepower to back deals is tied up.

Morgan Stanley,

the lead bank on Twitter’s debt deal, has approximately $807 million in unsecured bridge debt on its balance sheet, while

Bank of America Corp.

,

Barclays

PLC and MUFG Bank Ltd. each have approximately $623 million of exposure, according to public documents and calculations by The Wall Street Journal.

Each of the four banks have more than $2 billion in other Twitter debt commitments on their balance sheets separate from the unsecured bridge facility, including term loans and other secured debt, the documents show.

Representatives of those banks declined to comment.

Write to Berber Jin at berber.jin@wsj.com and Alexander Saeedy at alexander.saeedy@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



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Tesla’s price cuts could spur an EV pricing war

A Tesla showroom is seen in the City Center shopping center on January 17, 2023 in Washington, DC.

Anna Moneymaker | Getty Images

DETROIT — Tesla vehicles in the U.S. are seeing significant price cuts, and that’s proving to be a double-edged sword for the electric carmaker and the greater automotive industry.

Tesla earlier this month slashed prices of its new cars by as much as 20%, making the vehicles more affordable and likely eligible for federal tax credits. But it also tanks the resale values of cars for current owners and is sending ripple effects through the auto industry.

CEO Elon Musk hasn’t directly addressed the price cuts, which are counterintuitive to his claims that the company’s cars will be appreciating assets — a rarity for the market aside from classics and collectible vehicles.

Analysts say the price cuts suggest Tesla is prioritizing sales over profits, potentially signaling a demand problem.

“There’s demand weakening, and they want to improve their sales — or it’s a market share grab,” said Michelle Krebs, Cox Automotive executive analyst.

For the industry at large, Tesla’s price cuts put pressure on other automakers to offer more affordable EVs despite rising commodity costs, creates havoc for used vehicle retailers that will need to write down the vehicles and has Wall Street concerned about the first EV pricing war amid recessionary fears.

“Tesla’s price cuts make all other EVs and [internal combustion engine vehicles] look incrementally more expensive, is margin compressive and sends a chill across the used car market,” Morgan Stanley analyst Adam Jonas wrote in a Friday investor note.

Automakers change prices regularly on new vehicles. It’s typically done through incentives or when a new model year comes out. But the adjustments, upward or downward, are historically small to avoid upsetting the automotive ecosystem for both consumers and car dealers.

Musk foreshadowed such a move last month in predicting a recession later this year.

“Do you want to grow unit volume, in which case you have to adjust prices downward? Or do you want to grow at a lower rate, or go steady?” Musk said Dec. 22 during a Twitter Spaces conversation. “My bias would be to say let’s grow as fast as we can without putting the company at risk.”

Tesla is due to report fourth-quarter earnings Wednesday after market close.

Used prices

When the price of a new vehicle drops, the value of the used models also takes a hit. In the case of Tesla, some of the new models were going for almost the same price — just thousands of dollars off — as their used counterparts. That’s problematic for current owners as well as used vehicle retailers and Tesla, which sells used models directly to consumers.

In the first 17 days of January, Edmunds reports, used prices of 2020 model year or newer Teslas dropped to an average price of $58,657 — 24.5% off their June peak of $76,626.

Tesla’s stock performance over the past year.

Cars.com reports list prices for used vehicles on the consumer-shopping website declined 3.3% for the Model Y and Model 3 as owners attempt to hold the line on resell pricing despite cuts to the new vehicles.

“The Tesla price cuts will affect consumers quite differently depending on which side of the news they sit,” Ivan Drury, Edmunds’ director of insights, said.

On one hand, Tesla owners have complained to billionaire CEO and Twitter owner Musk on the social media platform that the price cuts devalue their vehicles. In China, where price cuts took effect earlier than in the U.S., protesters reportedly gathered at the automaker’s showrooms and distribution centers demanding rebates and credits.

Recent Tesla buyers who missed out on the fresh price cuts are petitioning Musk and the company to make them whole. They have sought free, premium driver-assistance upgrades, free Supercharging and other pluses to offset their higher price tags.

At the same time, Cars.com and Edmunds both report interest in and searches for Tesla vehicles have skyrocketed since the reductions.

CarMax, the nation’s largest seller of used vehicles, quickly sold hundreds of Teslas after realigning prices. It only had about 150 Tesla cars for sale as of Tuesday, down from hundreds before the company cut prices.

“We continuously adjust retail vehicle pricing in real time to match market conditions and offer competitive pricing,” CarMax Chief Operating Officer Joe Wilson said in an emailed statement. “As such, we adjusted pricing to respond to the market conditions related to new car price reductions and this has been received positively from consumers looking to purchase a used Tesla.”

Peer pressure

Wall Street analysts were largely positive on the cuts for Tesla as a boon for sales.

Tesla has enjoyed significantly higher profit margin on its EVs compared to traditional automakers. Its software and subscription offerings, including its advanced-driver assistance systems and in-vehicle Wi-Fi, could help cushion anticipated profit losses due to the recent price cuts, as could EV tax credits.

Plus, the price reductions pressure other automakers, or OEMS, to cut prices on their own EVs.

“Most OEMs are currently losing money on EVs, and these price cuts are likely to make business even more difficult, just as they are attempting to ramp production of EV offerings,” BofA Securities analyst John Murphy wrote to investors earlier this month.

Gerald Johnson, General Motors’ head of global manufacturing, said Tesla’s cuts don’t change the company’s manufacturing plan for electric vehicles. The automaker currently sells its sub-$30,000 Chevy Bolt EV models — among the most affordable in the industry — as well as higher-priced models on a new battery system.

“We believe we have an EV for every price bracket and every market segment that we’re rolling out here,” Johnson said Friday during an event in Flint, Michigan. He said Tesla’s price cuts signal that the vehicles “may have been overpriced to begin with.”

GM cut the prices of its Bolt models by thousands of dollars last year, only to recently raise them by hundreds of dollars, citing industry pricing pressures.

– CNBC’s Lora Kolodny and Michael Bloom contributed to this report.

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Twitch Streamer Plays Elden Ring Using Only Her Brain

Screenshot: Perrikaryal / Kotaku

When you tune into Twitch streamer Perrikaryal’s channel, you might see her playing FromSoftware’s role-playing game epic Elden Ring with fourteen, unfamiliar black sensors stuck to her scalp. It’s her—as she said during an informational stream earlier today—“just for fun” electroencephalogram (EEG) device, something researchers use to record the brain’s electrical activity, which she’s repurposed to let her play Elden Ring hands-free.

“Okay what and how,” publisher Bandai Namco responded to a clip of Perri (whose name seems to refer to the perikaryon, the cell body of a neuron) describing how she linked brain activity to key binds to help her play the game, shared by esports reporter Jake Lucky on Twitter.

Cue the disbelief (“I’ve gotten a lot of stuff online being like, […] ‘are you for real?’” Perri says in that Twitter clip) and cries of Ex Machina.

It does look incredible—in the clip, you see Perri simply say “attack” to her screen like a gamer girl Matilda and then, after a short delay, her Elden Ring character responds by casting Rock Sling at an irritated boss. But I spent my undergrad fixing eye-tracking devices to my friends’ heads while they helped me fill my lab requirements, and I know that, although brain technology can look complicated, some of it was still easy enough for me as a 19-year-old. So I reached out to my former classmate, University of Michigan cognitive neuroscience PhD candidate Cody Cao, for his thoughts.

“EEG has really good temporal resolution,” he said, “meaning that the collected neural response to gaming stimuli is down to milliseconds. If the neural responses corresponding to available actions present vastly different neural patterns, algorithms can decode or differentiate which is which after training. Then, you play the game with EEG.”

But playing a game with your brain—something Elon Musk tried to shock the public with in 2021, when his brain-computer interface company Neuralink released a video of a monkey playing Pong using its technology—won’t give you an advantage.

“Decoding is still janky,” Cao told me, “60 percent to 70 percent accuracy is considered pretty good,” compared to 90 to 100 percent accuracy in performing an action manually (which also requires your brain!).

“It takes algorithms a lot of training to get to an acceptable performance. They likely need to experience a lot of different examples of the same thing (like Perri saying ‘attack’ before attacking) to be able to account for a vast majority of attacks,” Cao continued. “It’s like FaceID on your iPhone—it gets better with the more examples it sees.”

Perri also emphasized in her stream today that she isn’t necessarily innovating, but bringing the possibilities of EEG usage to the general public’s attention.

“It’s not that crazy, it’s really easy to do. And it’s been done since 1988,” she said about gaming with her brain. “It’s not necessarily anything new that I’m doing, I’m just not sure that it’s very well known.” But now you know, and maybe you’ll figure out how to mind control me a grilled cheese that doesn’t hurt my stomach next.

 



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Elon Musk In Tesla Tweet Trial

Elon Musk’s testimony is set to conclude on Tuesday.

San Francisco:

Elon Musk on Monday told jurors that his 2018 tweet about taking Tesla private at $420 a share was no joke and that Saudi Arabia’s sovereign wealth fund was serious about helping him do it.

The Tesla chief returned to the witness stand to answer questions from lawyers for angry investors who accuse him of costing them millions of dollars with a pair of allegedly false tweets about having the funding secured to buy them out.

A lawyer for the plaintiffs focused on Musk’s buyout figure of 420, a number that is also a popular rallying code for marijuana, which Musk uses.

“420 was not chosen because of a joke; it was chosen because there was a 20 percent premium over the stock price,” Musk said when asked if he was having a laugh when he made the tweet.

Musk added, however, that there was “some karma around 420”, though “I should question whether that is good or bad karma at this point.”

The case revolves around a pair of tweets in which Musk said “funding secured” for a project to buy out the publicly-traded electric automaker, then in a second tweet added that “investor support is confirmed.”

The tweets sent the Tesla share price on a rollercoaster ride and Musk was sued by shareholders who say the tycoon acted recklessly in an effort to squeeze investors who had bet, or “gone short,” against the company.

Musk referred to short sellers as “evil” at the trial.

“It’s difficult to appreciate just now just how much attack Tesla was under by short sellers who wanted Tesla to die,” Musk told jurors.

– ‘Done deal’ –

But Musk said he fired off the tweets at issue after learning of a Financial Times story about a Saudi Arabian investment fund wanting to acquire a stake in Tesla.

“My concern was that if they knew all of this information, then they could also potentially know about the take-private,” Musk said of the news report.

Musk testified that Saudi Arabia’s sovereign wealth fund was “unequivocally, without question” supportive of his project, adding that the head of the fund told him that the crown prince of Saudi Arabia was also on board.

“So essentially I took that to mean it was a done deal,” Musk said.

When confronted with exchanges with the Saudi fund that showed they wanted more details before committing to his buyout plan, Musk said the fund was “backpedalling”.

Musk testified that he understood the fund would do whatever it took to take Tesla private and had plenty of money to do it.

The billionaire added that even without the Saudi fund, he had the personal wealth to take Tesla private at the time, including by using his shares in SpaceX, the company he also runs.

Musk said he had shared some details of his plan with tech billionaire and Tesla investor Larry Ellison, who is among witnesses slated to testify at the fraud trial.

During testimony last week, a Harvard professor called as a witness by the plaintiffs said that Musk’s plans were “illusory” and deviated wildly from the way such mega-deals usually take place.

In his own opening remarks, Musk attorney Alex Spiro said that even though the tweets may have been a “reckless choice of words”, they were “not fraud, not even close.

“I’m being accused of fraud; it’s outrageous,” Musk said as his lawyer took over the questioning on Monday.

The tycoon’s testimony is set to conclude on Tuesday.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Microsoft to Deepen OpenAI Partnership, Invest Billions in ChatGPT Creator

Microsoft Corp.

MSFT 0.98%

said Monday it is making a multiyear, multibillion-dollar investment in OpenAI, substantially bolstering its relationship with the startup behind the viral ChatGPT chatbot as the software giant looks to expand the use of artificial intelligence in its products.

Microsoft said the latest partnership builds upon the company’s 2019 and 2021 investments in OpenAI.

The companies didn’t disclose the financial terms of the partnership. Microsoft had been discussing investing as much as $10 billion in OpenAI, according to people familiar with the matter. A representative for Microsoft declined to comment on the final number.

OpenAI was in talks this month to sell existing shares in a tender offer that would value the company at roughly $29 billion, The Wall Street Journal reported, making it one of the most valuable U.S. startups on paper despite generating little revenue.

The investment shows the tremendous resources Microsoft is devoting toward incorporating artificial-intelligence software into its suite of products, ranging from its design app Microsoft Designer to search app Bing. It also will help bankroll the computing power OpenAI needs to run its various products on Microsoft’s Azure cloud platform.

At a WSJ panel during the 2023 World Economic Forum, Microsoft CEO Satya Nadella discussed the company expanding access to OpenAI tools and the growing capabilities of ChatGPT.

The strengthening relationship with OpenAI has bolstered Microsoft’s standing in a race with other big tech companies that also have been pouring resources into artificial intelligence to enhance existing products and develop new uses for businesses and consumers.

Alphabet Inc.’s

Google, in particular, has invested heavily in AI and infused the technology into its operations in various ways, from improving navigation recommendations in its maps tools to enhancing image recognition for photos to enabling wording suggestions in Gmail.

Google has its own sophisticated chatbot technology, known as LaMDA, which gained notice last year when one of the company’s engineers claimed the bot was sentient, a claim Google and outside experts dismissed. Google, though, hasn’t made that technology widely available like OpenAI did with ChatGPT, whose ability to churn out human-like, sophisticated responses to all manner of linguistic prompts has captured public attention.

Microsoft Chief Executive

Satya Nadella

said last week his company plans to incorporate artificial-intelligence tools into all of its products and make them available as platforms for other businesses to build on. Mr. Nadella said last week at a Wall Street Journal panel at the World Economic Forum’s annual event in Davos, Switzerland. Mr. Nadella said that his company would move quickly to commercialize tools from OpenAI.

Analysts have said that OpenAI’s technology could one day threaten Google’s stranglehold on internet search, by providing quick, direct responses to queries rather than lists of links. Others have pointed out that the chatbot technology still suffers from inaccuracies and isn’t well-suited to certain types of queries.

“The viral launch of ChatGPT has caused some investors to question whether this poses a new disruption threat to Google Search,” Morgan Stanley analysts wrote in a note last month. “While we believe the near-term risk is limited—we believe the use case of search (and paid search) is different than AI-driven content creation—we are not dismissive of threats from new, unique consumer offerings.”

OpenAI, led by technology investor

Sam Altman,

began as a nonprofit in 2015 with $1 billion in pledges from

Tesla Inc.

CEO

Elon Musk,

LinkedIn co-founder

Reid Hoffman

and other backers. Its goal has long been to develop technology that can achieve what has been a holy grail for AI researchers: artificial general intelligence, where machines are able to learn and understand anything humans can.

Microsoft first invested in OpenAI in 2019, giving the company $1 billion to enhance its Azure cloud-computing platform. That gave OpenAI the computing resources it needed to train and improve its artificial-intelligence algorithms and led to a series of breakthroughs.

OpenAI has released a new suite of products in recent months that industry observers say represent a significant step toward that goal and could pave the way for a host of new AI-driven consumer applications.

In the fall, it launched Dall-E 2, a project that allowed users to generate art from strings of text, and then made ChatGPT public on Nov. 30. ChatGPT has become something of a sensation among the tech community given its ability to deliver immediate answers to questions ranging from “Who was George Washington Carver?” to “Write a movie script of a taco fighting a hot dog on the beach.”

Mr. Altman said the company’s tools could transform technology similar to the invention of the smartphone and tackle broader scientific challenges.

“They are incredibly embryonic right now, but as they develop, the creativity boost and new superpowers we get—none of us will want to go back,” Mr. Altman said in an interview in December.

Mr. Altman’s decision to create a for-profit arm of OpenAI garnered criticism from some in the artificial-intelligence community who said it represented a move away from OpenAI’s roots as a research lab that sought to benefit humanity over shareholders. OpenAI said it would cap profit at the company, diverting the remainder to the nonprofit group.

—Will Feuer contributed to this article.

Write to Berber Jin at berber.jin@wsj.com and Miles Kruppa at miles.kruppa@wsj.com

Corrections & Amplifications
The design app Microsoft Designer was misidentified as Microsoft Design in an earlier version of this article. (Corrected on Jan. 23)

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Elon Musk Announces More Expensive Subscription For Ad-Free Twitter

Web subscriptions are also available for $8 per month or, at a discount, $84 per year. (File)

Washington:

Twitter boss Elon Musk announced in a series of tweets Saturday that the company’s subscription service would show less advertising to users, including an ad-free tier.

The announcement comes as the social network has faced major economic uncertainty since its takeover by Musk in October.

“Ads are too frequent on Twitter and too big. Taking steps to address both in coming weeks,” Musk posted to his Twitter account Saturday.

And for those who choose it, “there will be a higher priced subscription that allows zero ads,” Musk added.

That would be a radical change in business model from Twitter, which has so far relied on targeted advertising to generate revenue, before launching a paid subscription service in mid-December.

But advertising has been a question mark for Twitter lately, after Musk fired about half of the company’s 7,500-strong workforce late last year. The move sparked concern that the company was insufficiently staffed to carry out content moderation and spooking governments and advertisers.

Musk said his strategy was to massively reduce costs while building up revenue, and that a new subscription service called Twitter Blue, which grants users a sought-after blue verification tick for a fee, would help reach that goal.

The service costs $11 a month in the United States and is available on Apple’s iOS and Google’s Android mobile operating systems, according to a page on the company’s website.

Web subscriptions are also available for $8 per month or, at a discount, $84 per year.

Twitter Blue is currently available in the United States, Canada, Britain, New Zealand, Australia and Japan.

Musk-led Twitter has been riven by chaos, with mass layoffs, the return of banned accounts and the suspension of journalists critical of the South African-born billionaire.

Musk’s takeover also saw a surge in racist or hateful tweets, drawing scrutiny from regulators and chasing away big advertisers, Twitter’s main source of revenue.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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