Tobias

Salesforce CEO Marc Benioff stirred controversy by suggesting openness to federal troops in San Francisco, echoing Elon Musk’s call for intervention due to urban issues. This sparked debate amid Dreamforce, with local officials like DA Brooke Jenkins criticizing the idea. Mayor Daniel Lurie countered that crime is down, emphasizing city-led solutions. Garry Tan from Y Combinator stated “We do not need the National Guard.” Benioff clarified his stance, praising Lurie’s efforts. The event highlights San Francisco’s challenges and the growing influence of tech leaders in political discourse.

Broadcom CEO Hock Tan anticipates AI to significantly impact global GDP, potentially increasing “knowledge-based” industries’ share from 30% to 40%. Broadcom is strategically partnering with companies like OpenAI to develop AI accelerators and collaborating with multiple cloud providers, securing substantial chip orders, including $10 billion from one client. The company’s focus is on AI infrastructure and revenue-generating partnerships, reflecting confidence in the essential role of specialized hardware in AI’s growth.

Amazon fired software engineer Ahmed Shahrour for protesting the company’s Project Nimbus contract with the Israeli government, citing violations of company policy. Shahrour claims retaliation for dissenting against Amazon’s collaboration in the “genocide in Gaza.” The termination follows similar actions at Microsoft and Google against employees protesting their companies’ ties to the Israeli military. These incidents highlight growing employee activism and ethical concerns within the tech industry regarding involvement in geopolitical conflicts. The debate centers on balancing contractual obligations with employee concerns and ethical considerations.

President Trump declared an end to the Middle East conflict, boosting market optimism despite earlier trade tariff concerns. A potential de-escalation with China and JPMorgan’s $10B investment in strategic sectors, including AI, further fueled market gains. Broadcom’s partnership with OpenAI on custom chip development challenges Nvidia’s dominance in the AI chip market. Additionally, the U.S. offered Argentina a $20 billion currency swap to address liquidity concerns before elections.

Google plans to invest $15 billion in a new AI hub in southern India, its largest outside the U.S., over the next five years. This signals India’s growing strategic importance in the global tech landscape. Raiden Infotech, Google’s Indian subsidiary, will build three campuses in Visakhapatnam. This investment, part of Google’s increased $85 billion capital expenditure forecast for 2025, aligns with its $25 billion investment in US data centers. Microsoft and AWS are also investing heavily in India, fueling competition and innovation within the sector.

President Trump declared an end to the Israeli-Palestinian conflict. Markets reacted cautiously, buoyed by potential easing of US-China trade tensions and a resurgence in tech stocks (“TACO trade”). Quantum computing stocks surged after JPMorgan Chase’s $10 billion investment. Broadcom partnered with OpenAI, potentially impacting Nvidia. Furthermore, the U.S. provided Argentina a $20 billion currency swap to address liquidity concerns.

Salesforce is launching Agentforce Voice, adding lifelike voice capabilities to its AI-powered customer service platform. This allows businesses to engage customers in spoken conversations with customizable AI agent voices. The move comes amidst increasing competition from companies like Sierra and investor concerns about AI’s disruption potential in the software industry. Salesforce is partnering with major communications providers and plans to release Agent Script software for further customization. While acknowledging potential workforce disruption, CEO Marc Benioff sees AI as an opportunity for efficiency and innovation.

Citi plans to launch a cryptocurrency custody service in 2026, driven by regulatory clarity and client demand, according to a senior executive. This service aims to provide institutional clients with secure management of digital assets. Citi is also exploring stablecoins for use in regions with less developed banking infrastructure and has invested in stablecoin infrastructure firm BVNK. Other Wall Street firms, like JPMorgan and Bank of America, are also evaluating stablecoins, though approaches to crypto custody vary.

Broadcom and OpenAI are collaborating to develop and deploy 10 gigawatts of custom AI accelerators, signaling intensified competition in AI infrastructure. This partnership, following OpenAI’s alliances with Nvidia, Oracle, and AMD, aims to diversify its supply chain and optimize compute resources. The initiative involves customized networking, memory, and compute components built on Broadcom’s Ethernet stack, potentially reducing OpenAI’s costs and enhancing efficiency. Broadcom’s stock surged, reflecting the growing demand for custom AI chips. OpenAI aims to expand compute capacity to meet the demands of advanced AI models and future superintelligence.