Lifeboat Foundation

A US Senate investigation is shedding light on just how often America’s big banks refuse to reimburse victims of fraud.

The Permanent Subcommittee on Investigations says JPMorgan Chase, Wells Fargo and Bank of America collectively refused to reimburse $880 million in Zelle transactions that customers reported as fraud between 2021 and 2023.

Specifically, the banks refused to reimburse $320 million to customers who were hit by unauthorized transactions – and rejected an additional $560 million in reimbursement to customers who were tricked into authorizing an illicit transaction.

“The technological focus is on significant increases in range through advances in energy density and the reduction of charging times,” Mercedes explained, noting that the partnership cements a reliable EV battery cell supply chain while providing financial support for Farasis to build a factory in Germany.

How Sustainable Is A Million-Mile EV Battery?

Continue reading “Sustainable Million-Mile Battery Bet Pays Off For Mercedes-Benz” »

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A lot of big banks are banking on quantum computing because they think it’ll give them an edge in trading. Though I have on previous occasions noted my doubt that we’ll see any useful quantum computers within the next ten years, two new papers detailing new methods of scaling quantum computers have shifted my perspective. Let’s have a look.

Continue reading “Big News for Quantum Computing: First Scalable Platforms” »

The semiconductor industry has grown into a $500 billion global market over the last 60 years. However, it is grappling with dual challenges: a profound shortage of new chips and a surge of counterfeit chips, introducing substantial risks of malfunction and unwanted surveillance. In particular, the latter inadvertently gives rise to a $75 billion counterfeit chip market that jeopardizes safety and security across multiple sectors dependent on semiconductor technologies, such as aviation, communications, quantum, artificial intelligence, and personal finance.

It all started at a Denny’s in San Jose in 1993. Three engineers—Jensen Huang, Chris Malachowsky and Curtis Priem—gathered at the diner in what is now the heart of Silicon Valley to discuss building a computer chip that would make graphics for video games faster and more realistic. That conversation, and the ones that followed, led to the founding of Nvidia, the tech company that soared through the ranks of the stock market to briefly top Microsoft as the most valuable company in the S&P 500 this week.

The company is now worth over $3.2 trillion, with its dominance as a chipmaker cementing Nvidia’s place as the poster child of the artificial intelligence boom—a moment that Huang, Nvidia’s CEO, has dubbed “the next industrial revolution.”

On a conference call with analysts last month, Huang predicted that the companies using Nvidia chips would build a new type of data center called “AI factories.”

Computer security company CrowdStrike is linked to a major IT outage affecting banks, airports, supermarkets and businesses across Australia and the world.

Airport check-in systems across the globe have been disrupted and businesses have reported the “blue screen of death” and IT outages.

Follow our live blog or download the ABC News app and subscribe to our range of news alerts for the latest updates.

Airlines, banks and broadcasters were among the companies around the world reporting disruptions, citing technical issues.

Tesla Energy secured a $375 million Megapack contract in Australia. The new Tesla Megapack contract will help build a 415 MW/1660 MWh battery Down Under, one of the largest four-hour batteries in the world.

Tesla Energy will supply Megapacks to Akaysha Energy’s Orana Battery Energy Storage System (BESS). The Orana project is located in New South Wales within Central West Orana’s Renewable Energy Zone (REZ).

We are very pleased to announce the successful closing of the debt financing of the Orana project as we move into construction on Akaysha’s first four-hour BESS to date. As the largest standalone BESS financing globally, this achievement not only secures the capital for Orana’s construction but also highlights the strong support we have received from both local and international banks, as well as from BlackRock. Their commitment to advancing the energy transition in Australia and internationally has been pivotal to reaching this milestone.

Skild AI, a startup that’s developing artificial intelligence-powered brains for robots, said today it has closed on a bumper $300 million early-stage funding round, bringing its valuation to a cool $1.5 billion.

The Series A round was led by a host of top-tier venture capital firms, including Lightspeed Venture Partners, Coatue, Softbank Group Corp. and Jeff Bezos’s Bezos Expeditions. It also saw participation from the likes of Felicis Ventures, Sequoia, Menlo Ventures, General Catalyst, CRV, Amazon, SV Angel and Carnegie Mellon University.

Skild AI is building what it says is a “shared, general-purpose brain” that will be able to equip a diverse group of robots that can perform multiple kinds of tasks in a wide range of scenarios, such as manipulating objects, locomotion and navigation. It says its AI intelligence can be integrated with any kind of robot, including humanoid bots with advanced computer vision skills designed to perform dexterous manipulation of objects in the home and in industrial settings, and more resilient quadruped robots that can navigate any physical environment.