Plus: President Trump made over $1 billion on crypto deals in 2025. And South Korean exports soar on AI chip boom. Julie Chang hosts.
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[00:00:28] Here's your afternoon TNB Tech Minute for Wednesday, July 1st. I'm Julie Chang for The Wall Street Journal. We exclusively report that SpaceX has developed a prototype for a handset-like device designed to reshape how humans interact with AI. Elon Musk's rocket and AI company showed it to some investors and other stakeholders ahead of the company's mega-initial public offering.
[00:00:54] People familiar with the matter say the prototype features a sleek design that is slimmer than an iPhone, and that it's made to run on a proprietary operating system and integrate technology from XAI. SpaceX told some investors that the project was at an early stage, and that the design could change or not be made at all. Representatives for SpaceX didn't immediately respond to requests for comment.
[00:01:20] President Trump earned over a billion dollars last year on crypto deals. That's according to his latest financial disclosure report from the Office of Government Ethics. These earnings included $635 million in royalties from an entity linked to his meme coin, and more than $500 million from token sales by World Liberty Financial, the Trump family's flagship crypto project.
[00:01:46] The first family has made crypto a particular focus, and the president has also advanced policies to reduce industry regulations. Government ethics watchdogs have criticized Trump for expanding his business empire while in office. In a statement Tuesday, White House spokeswoman Anna Kelly said Trump had turned America into, quote, the crypto capital of the world, and said that neither the president nor his family has ever engaged or will ever engage in conflicts of interest.
[00:02:15] And South Korean exports posted the strongest growth in nearly 50 years driven by AI chip demand. Exports surged nearly 71 percent in June compared with a year prior to a record $102.25 billion. The country's trade ministry said semiconductors remained the main drivers of shipment growth, which tripled from a year earlier. And the momentum seems poised to continue.
[00:02:42] Samsung and SK Hynix announced plans to invest about $520 billion in new chip-making hubs in Southwest Korea, as part of the president's push to boost investment in the semiconductor industry and AI infrastructure. And that's your TMB Tech Minutes. Check back in the morning for another QuickTech Update. Sehr gut, sehr gut, sehr gut. Sehr gut? Wieso Steuer ist sehr gut? Das sagen ganz viele. Wer sagt das?
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