Tech

Trump’s Truth Social: A $3.5 billion windfall awaits

Published

1 year ago

March 21, 2024

Ahron Young

Trump’s nearly $3.5 billion windfall from his stake in Truth Social is poised to become a reality as supporters rally behind the social-media platform, driving up its value ahead of an expected stock market listing.

The journey of Truth Social, launched by Donald Trump in 2021, has been tumultuous, marked by significant losses and legal troubles. However, the platform has garnered attention as a potential challenger to mainstream social-media giants after Trump’s removal from platforms like Facebook and Twitter.

The shell company overseeing Truth Social’s public listing has seen a surge in its stock price, propelled by Trump’s loyal supporters.

This surge has led to a staggering $6 billion valuation for Truth Social, setting the stage for a lucrative payday for Trump.

Despite its rocky start, Truth Social’s parent company is set to go public through a merger with a special-purpose acquisition company.

Truth Social users compared to Twitter.

Stock market

Shareholders, predominantly Trump supporters, are expected to greenlight the merger on Friday, paving the way for Truth Social’s entry into the stock market.

However, Trump’s windfall comes with a caveat – he must hold onto his shares for six months following the public listing.

The potential financial boost could alleviate some of Trump’s financial concerns and provide a significant infusion of funds for his political endeavors.

The approval of the merger and subsequent listing of Truth Social could mark a turning point for the platform, positioning it as a viable alternative in the social-media landscape and potentially reshaping the dynamics of online discourse.

Tech

Nvidia to build AI supercomputers in the U.S. for first time

Nvidia invests $500 billion in U.S. AI supercomputers, shifting production to Texas to strengthen supply chains and boost domestic growth amid rising tariffs and national tech pressures.

Published

15 hours ago

April 18, 2025

Veronica Dudo

Nvidia invests $500 billion in U.S. AI supercomputers, shifting production to Texas to strengthen supply chains and boost domestic growth amid rising tariffs and national tech pressures.

Nvidia to build AI supercomputers in the U.S. for the first time — a $500 billion move that could redefine the global tech industry.

With new tariffs on imports from China and Taiwan, the chip giant is shifting production to Texas, partnering with Foxconn and Wistron.

Nvidia says the decision will strengthen its supply chain and boost domestic economic growth.

The announcement comes amid growing pressure to secure national tech infrastructure and reduce reliance on Asia. How will this impact jobs, prices, and America’s AI ambitions?

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

Tech

‘Stuck in the past’: Has Apple lost its edge?

Apple, once an innovator, faces criticism for stale updates and designs, prompting comparisons to 1980s IBM and calls for Tim Cook’s departure.

Published

3 days ago

April 16, 2025

Ahron Young

Apple, once an innovator, faces criticism for stale updates and designs, prompting comparisons to 1980s IBM and calls for Tim Cook’s departure.

Apple, once a symbol of innovation, is now under fire for uninspiring product updates.

The headline “Has Apple lost its edge? Critics say it’s stuck in the past” captures growing frustration over recycled designs and underwhelming features.

From the original iPhone to the lacklustre Apple Intelligence, critics now compare the company to IBM in the 1980s. Is it time for Tim Cook to step aside?

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#Apple #TimCook #TechNews #iPhone #AppleIntelligence #Innovation #BradGastwirth #TechDebate

Tech

OpenAI explores social network to rival Elon Musk

OpenAI is considering a social network to rival Musk’s X, spurred by the success of its new image-generation feature.

Published

3 days ago

April 16, 2025

Ahron Young

OpenAI is considering a social network to rival Musk’s X, spurred by the success of its new image-generation feature.

In Short

OpenAI is considering creating a social network to compete with Elon Musk’s X and Meta’s Instagram, following high demand for its new image-generation tool.

The company has raised $40 billion in funding and is facing increased server demands, prompting efforts to temporarily limit the tool’s usage.

OpenAI is contemplating the development of a social network to rival Elon Musk’s X and Meta’s Instagram, according to an informed source.

This initiative is reportedly in the early stages and has emerged following the success of OpenAI’s latest image-generation tool, which has stressed the company’s servers.

The announcement was first reported by The Verge, while OpenAI has chosen not to comment on the matter.

Image-generation

In March, OpenAI launched its new image-generation feature designed to create various visual content, including diagrams, infographics, and logos. This tool also enables users to produce artistic renditions from their uploaded images.

Recently, images generated by this feature have gained significant traction on social media, with OpenAI’s CEO Sam Altman recently using one for his profile photo on X. Altman noted the overwhelming popularity has led to increased server demands.

He mentioned that the company is currently looking to limit the feature’s usage temporarily while they enhance its efficiency.

The generative AI sector is highly competitive, particularly with the involvement of Musk’s xAI, which recently acquired X. The relationship between Altman and Musk has become contentious, particularly surrounding OpenAI’s move to become a for-profit entity.