Plus: an anti-Nvidia data center startup closed a new funding round valuing it at $1.55 billion dollars. And the AI selloff hits more chipmakers in Asia. Danny Lewis hosts.
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[00:00:32] [SPEAKER_00] Here's your morning TNB Tech Minute for Wednesday, June 10th. I'm Danny Lewis for The Wall Street Journal. We exclusively report that federal regulators are proposing an expansive new set of rules on how they will govern prediction markets. According to a copy of the proposal viewed by the journal, the Commodity Futures Trading Commission is seeking the ability to block prediction wagers if fines aren't in the public interest or that seem highly susceptible to manipulation.
[00:00:56] [SPEAKER_00] That likely includes some sports-related trading, like bets on player injuries, and virtually all bets on war, terrorism, or assassinations would be prohibited. People familiar with the matter say the proposal doesn't outright ban trading on specific events contracts, but outlines factors regulators will use to review them. In another WSJ exclusive, a cloud computing startup has closed a new funding round valuing it at $1.55 billion.
[00:01:24] [SPEAKER_00] Tensorwave, which exclusively uses hardware and software made by advanced microdevices, raised $350 million in its Series B round, nearly quadrupling its value. The fundraising was led by AMD and hedge fund Magnetar Capital. Unlike most other data center firms, Tensorwave's co-founder and CEO says the startup doesn't use any products made by NVIDIA out of concern that the chip maker controls too much of the AI infrastructure market. NVIDIA didn't respond to a request for comment.
[00:01:52] [SPEAKER_00] Speaking of chips, the AI sell-off is continuing to royal Asian markets. Japanese technology investor and OpenAI backer SoftBank slid more than 8% in Tokyo. South Korean chip makers Samsung Electronics and SK Hynix also dropped sharply overnight. Samsung shares fell 6%, and SK Hynix lost about 7.5%. And AI server maker SuperMicrocomputer tumbled over 12% this morning after disclosing plans late last night to raise $7 billion in a series of equity offerings.
[00:02:23] [SPEAKER_00] That's your TNB Tech Minute. Join us again this afternoon for more.
[00:02:26] [SPEAKER_01] The browser is your business's first line of defense against online threats. Keep your employees and data safe with Chrome Enterprise, the most trusted enterprise browser. Create controls that enforce company policies, like rules that prevent employees from printing, pasting, or sharing company data. Access in-depth reports that show the apps and extensions your employees are using and where data is going and coming from. And prevent phishing and malware attacks from reaching your employees with automatic proactive protections.
[00:02:55] [SPEAKER_01] Visit ChromeEnterprise.Google to learn more.