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Industry

SpaceX puts IPO funds into AI infrastructure and safe assets, not bitcoin

SpaceX has allocated funds raised after its IPO to AI infrastructure and short-term safe assets rather than increasing its bitcoin holdings, a report said. The company boosted money market funds and government securities while keeping bitcoin holdings at 18,712 BTC. It spent $15.83 billion on AI infrastructure in the second quarter. Concerns persist over rising AI spending and potential share sales by insiders, alongside elevated short interest and derivatives activity.

AI & Enterprise

AMD to buy inference chip startup Talas, expanding into custom AI semiconductors beyond GPUs

AMD plans to acquire AI inference chip startup Talas and integrate its chips and technology into its product roadmap to strengthen system competitiveness, including CPUs and Instinct GPUs. AMD sees growing generative AI demand making it hard for GPUs alone to meet all needs. Talas develops hardwired inference accelerators designed for specific AI models. AMD did not disclose the deal value. Talas has raised $219 million since 2023.

Industry

Posco Future M agrees long-term supply of 190,000 tons of LFP cathode material to Korean battery maker

Posco Future M said on Wednesday it agreed with a South Korean battery maker on a large-scale, long-term supply of cathode material for LFP batteries. The deal calls for supplying more than 190,000 tons over six years from next year through 2032, with a formal contract expected in the third quarter. The company said it has completed facility conversion and plans to begin mass-production supply by year-end.