NBA star Giannis Antetokounmpo has joined prediction market Kalshi as a shareholder, becoming the first NBA player to invest directly in the company, according to TechCrunch. The announcement, made Friday, has sparked mixed reactions, with some social media users expressing concerns about potential conflicts of interest.
Antetokounmpo's investment aligns with the NBA's recent collective bargaining agreement, which allows players to advertise and take stakes of up to 1% in sports betting companies, as long as they are not directly involved in betting. The two-time NBA MVP shared his decision on social media, stating, "The internet is full of opinions. I decided it was time to make some of my own... Today, I'm joining Kalshi as a shareholder. We all on Kalshi now."
In other news, the AI chipmaker Cerebras Systems announced it raised $1 billion in fresh capital, reaching a valuation of $23 billion, nearly tripling its valuation in just six months, according to TechCrunch. Benchmark Capital, a long-time investor, contributed at least $225 million to the latest round. The firm had previously led Cerebras' Series A in 2016.
Meanwhile, the debate surrounding California's proposed wealth tax continues to generate controversy. An AI startup founder is planning a "March for Billionaires" in San Francisco to protest the tax, according to TechCrunch. The event, scheduled for this coming Saturday, has been met with incredulity and skepticism, with many initially believing it was a hoax. The website promoting the event uses the tagline: "Vilifying billionaires is popular. Losing them is expensive."
HBO's financial thriller "Industry" is capturing the current moment with its storyline about a fraudulent fintech company called Tender, according to TechCrunch. The show follows Harper Stern, who is investigating Tender after a journalist tips her off. Her associates discover that the company is built on fabricated numbers, highlighting the prevalence of tech fraud.
Finally, Apple is reportedly working on integrating AI chatbots like ChatGPT into CarPlay, according to Bloomberg, as reported by TechCrunch. This move would allow users to interact with their favorite AI chatbots through their vehicle's infotainment system, potentially enhancing the functionality of Apple's next-generation CarPlay Ultra.
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