An anonymous reader quotes a report from Ars Technica: Donald Trump is eyeing taking equity stakes in quantum computing firms in exchange for federal funding, The Wall Street Journal reported. At least five companies are weighing whether allowing the government to become a shareholder would be worth it to snag funding that the Trump administration has "earmarked for promising technology companies," sources familiar with the potential deals told the WSJ.

IonQ, Rigetti Computing, and D-Wave Quantum are currently in talks with the government over potential funding agreements, with minimum awards of $10 million each, some sources said. Quantum Computing Inc. and Atom Computing are reportedly "considering similar arrangements," as are other companies in the sector, which is viewed as critical for scientific advancements and next-generation technologies. No deals have been completed yet, sources said, and terms could change as quantum-computing firms weigh the potential risks of government influence over their operations. [...]

The administration will lean on Deputy Commerce Secretary Paul Dabbar to extend Trump's industry meddling into the quantum computing world, the WSJ reported. A former Energy Department official, Dabbar co-founded Bohr Quantum Technology, which specializes in quantum networking systems that the DOE expects will help "create new opportunities for scientific discovery." While the firm he previously headed won't be eligible for funding, Dabbar will be leading industry discussions, the WSJ reported, likely hyping Trump's deals as a necessary boon to ensure US firms dominate in quantum computing. A Commerce Department official denied the claims, saying: "The Commerce Department is not currently negotiating equity stakes with quantum computing companies."

In August, the Trump administration took a 10% stake in Intel to help fund factories that Intel is currently building in Ohio.

A UK tribunal ruled that Apple abused its dominant position by charging app developers unfair commissions through its App Store, potentially costing the company hundreds of millions in damages. It marks the first major tech "class action" victory under the UK's collective lawsuit regime. Reuters reports: The Competition Appeal Tribunal (CAT) ruled against Apple after a trial of the lawsuit, which was brought on behalf of millions of iPhone and iPad users in the United Kingdom. The CAT ruled that Apple had abused its dominant position from October 2015 until the end of 2020 by shutting out competition in the app distribution market and by "charging excessive and unfair prices" as commission to developers.

Apple -- which has faced mounting pressure from regulators in the U.S. and Europe over the fees it charges developers -- said it would appeal against the ruling, which it said "takes a flawed view of the thriving and competitive app economy." The case had been valued at around $2 billion by those who brought it. A hearing next month will decide how damages are calculated and Apple's application for permission to appeal. "This ruling overlooks how the App Store helps developers succeed and gives consumers a safe, trusted place to discover apps and securely make payments," an Apple spokesperson said.

President Donald Trump has pardoned the Founder of Binance, Changpeng Zhao, who pleaded guilty to anti-money-laundering violations and served prison time. The Associated Press reports: Zhao has deep ties to World Liberty Financial, a crypto venture that the Republican president and his sons Eric and Donald Jr. launched in September. Trump's most recent financial disclosure report reveals he made more than $57 million last year from World Liberty Financial, which has launched USD1, a stablecoin pegged at a 1-to-1 ratio to the U.S. dollar. World Liberty Financial also recently announced that an investment fund in the United Arab Emirates would be using $2 billion worth of USD1 to purchase a stake in Binance. Zhao also has publicly said that he had asked Trump for a pardon that could nullify his conviction.

White House press secretary Karoline Leavitt said in a statement Thursday that the Biden administration prosecuted Zhao out of a "desire to punish the cryptocurrency industry." She said there were "no allegations of fraud or identifiable victims," though Zhao had pleaded guilty in November to one count of failing to maintain an anti-money-laundering program.

Banks face a hit to their bottom lines of as much as $170 billion if they don't adapt their business models to respond to customers turning to AI to optimize their finances. From a report: The consultancy firm predicted that customer uptake of agentic AI -- effectively autonomous bots -- would hit the profits banks earn from customer money in low interest accounts, according to a report from McKinsey published Thursday. "Imagine you have an AI agent that says: 'Hey, you could save $2,000-a-year by moving your money,'" Pradip Patiath, a senior partner at McKinsey, said. "It automates a lot of the inertia that is in the system today."

Consumers hold $23 trillion out of a total of $70 trillion in accounts with close to zero interest rates, while the remainder is held in accounts that often pay relatively low rates, according to the research. Customer use of AI agents could lead to a 9% profit drop for banks, some $170 billion, if they do not change their business models. That could push average returns for banks below their cost of capital, the consultants said.

Google is migrating all its internal workloads to run on both x86 and its custom Axion Arm chips, with major services like YouTube, Gmail, and BigQuery already running on both architectures. The Register reports: The search and ads giant documented its move in a preprint paper published last week, titled "Instruction Set Migration at Warehouse Scale," and in a Wednesday post that reveals YouTube, Gmail, and BigQuery already run on both x86 and its Axion Arm CPUs -- as do around 30,000 more applications. Both documents explain Google's migration process, which engineering fellow Parthasarathy Ranganathan and developer relations engineer Wolff Dobson said started with an assumption "that we would be spending time on architectural differences such as floating point drift, concurrency, intrinsics such as platform-specific operators, and performance." [...]

The post and paper detail work on 30,000 applications, a collection of code sufficiently large that Google pressed its existing automation tools into service -- and then built a new AI tool called "CogniPort" to do things its other tools could not. [...] Google found the agent succeeded about 30 percent of the time under certain conditions, and did best on test fixes, platform-specific conditionals, and data representation fixes. That's not an enormous success rate, but Google has at least another 70,000 packages to port.

The company's aim is to finish the job so its famed Borg cluster manager -- the basis of Kubernetes -- can allocate internal workloads in ways that efficiently utilize Arm servers. Doing so will likely save money, because Google claims its Axion-powered machines deliver up to 65 percent better price-performance than x86 instances, and can be 60 percent more energy-efficient. Those numbers, and the scale of Google's code migration project, suggest the web giant will need fewer x86 processors in years to come.

An anonymous reader quotes a report from Reuters: The hack of Jaguar Land Rover, owned by India's Tata Motors, cost the British economy an estimated $2.55 billion and affected over 5,000 organizations, an independent cybersecurity body said in a report published on Wednesday. The report was produced by the Cyber Monitoring Centre, an independent, not for profit organization made up of industry specialists, including the former head of Britain's National Cyber Security Centre. It said losses could be higher if there were unexpected delays to the restoration of production at the vehicle manufacturer to levels before the hack took place in August.

"This incident appears to be the most economically damaging cyber event to hit the UK, with the vast majority of the financial impact being due to the loss of manufacturing output at JLR and its suppliers," the report said. JLR will report its financial results in November, according to the company's website. A spokesperson for JLR declined to comment on the report. [...] JLR, which analysts estimated was losing around 50 million pounds per week from the shutdown, was provided with a 1.5 billion pound loan guarantee by the British government in late September to help it support suppliers.

An anonymous reader quotes a report from the Financial Times: A lot of critical financial and government infrastructure runs on Cobol. The more-than-60-year-old mainframe coding language is embedded into payments and transaction rails, even though there are very few Cobol-literate coders available to maintain them. The big argument in favor of sticking with Cobol systems is that they work. The catch is that, whenever they stop working, it is difficult to figure out why. That's not good in a crisis, which is exactly when they're most likely to break. Covid-19 put a lot of strain the US state benefit systems.

The ones that used Cobol for processing unemployment claims failed spectacularly, according to a new working paper from The Atlanta Fed: "States that used an antiquated [unemployment insurance]-benefit system experienced a 2.8 percentage point decline in total credit and debit card consumption relative to card consumption in states with more modern UI benefit systems. [...] Using this estimate in a back-of-the-envelope calculation, I find that the lack of investment in updating UI-benefit systems in COBOL states was associated with a reduction in real GDP of at least $40 billion (in 2019 dollars) lower during this [March 13 2020 to year-end] period

The paper uses Cobol as a proxy for old and inefficient IT, not the direct cause of failure. Claimants faced much longer delays in the 28 states that still used Cobol in 2020, both because of the unprecedented volume of claims and the difficulty updating systems with new eligibility rules, author Michael Navarrete finds. [...] As an aside, one oddity of the data is that Republican-controlled states were more likely to have replaced old IT systems, even though their standard unemployment insurance payments are lower on average. Why? Absolutely no idea, but here are the maps. And, once adjusted for state politics, here's the key finding.

The Sims is in a period of transition -- and as part of that, the ongoing mobile version will be shutting down in a few months. From a report: EA announced that today's update for The Sims Mobile will be its last, and that on January 20th, 2026 the game "will no longer be accessible to play and will be sunset." The mobile iteration of the franchise first launched in 2018, and has seen more than 50 updates since then. EA says that starting today players will no longer be able to spend real money in the game, and that it will be delisted on both iOS and Android tomorrow before the servers shut down completely next year, making it entirely unplayable.

"The gig economy is facing a reckoning," argues Business Insider's BI Today newsletter." Two stories this past week caught my eye. Uber unveiled a new way for its drivers to earn money. No, not by giving rides, but by helping train the ride-sharing company's AI models instead. On the same day, Waymo announced a partnership with DoorDash to test driverless grocery and meal deliveries.

Both moves point toward the same future: one where the very workers who built the gig economy may soon find themselves training the technology that replaces them.

Uber's new program allows drivers to earn cash by completing microtasks, such as taking photos and uploading audio clips, that aim to improve the company's AI systems. For drivers, it's a way to diversify income. For Uber, it's a way to accelerate its automated future. There's an irony here. By helping Uber strengthen its AI, drivers could be accelerating the very driverless world they fear... Uber already offers autonomous rides in Waymo vehicles in Atlanta and Austin, and plans to expand. Meanwhile, Waymo is rolling out its pilot partnership with DoorDash [for driverless grocery/meal deliveries] starting in Phoenix.

Canada's Prime Minister "paused an electric-vehicle sales mandate that was set to take effect next year," reports the Wall Street Journal, which argues a kind of retreat from electric-vehicle ambitions "is spreading around the globe."

Even the U.K.'s Prime Minister "has allowed for a more flexible timetable to hit the country's EV targets." And demand is expected to drop in the U.S., where global consulting firm AlixPartners now predicts EVs will make up 18% of new-vehicle sales by 2030 — just half of what they'd predicted two years ago: j U.S. automaker GM will take a $1.6 billion charge "because of sinking EV sales," reports the Wall Street Journal, "a shift it blamed on recent moves by the U.S. government to end EV subsidies and regulatory mandates... That might just be the beginning of a financial reckoning from automakers that poured billions into new electric models — from sports cars and sedans to big pickups and sport-utility vehicles — to try to get ready for the government-backed EV mandates.

Automakers have been saying that consumers aren't adopting EVs as quickly as expected, and government efforts to proliferate the technology are hammering their bottom lines. GM, in announcing its charge, said it is reassessing EV capacity and warned that more losses are possible...Carmakers argue the EV business model is an unprofitable proposition given still-high battery costs, spotty car-charging networks and dwindling government subsidies.

Incentive programs have ended or have been pared back across Europe and in the U.S. and Canada.

Volkswagen, burdened with massive electrification costs, helped spur the reckoning in Europe when it said it would cut 35,000 jobs as part of a deal with its union. The move sent shock waves through the region's political establishment. Weeks later, the EU launched a "strategic dialogue" with the automotive industry that led to a more flexible timetable for automakers to meet its emissions rules for 2025.

The U.S. is awash with scam text messages. Officials say it has become a billion-dollar, highly sophisticated business benefiting criminals in China. From a report: Your highway toll payment is now past due, one text warns. You have U.S. Postal Service fees to pay, another threatens. You owe the New York City Department of Finance for unpaid traffic violations. The texts are ploys to get unsuspecting victims to fork over their credit-card details. The gangs behind the scams take advantage of this information to buy iPhones, gift cards, clothing and cosmetics.

Criminal organizations operating out of China, which investigators blame for the toll and postage messages, have used them to make more than $1 billion over the last three years, according to the Department of Homeland Security. Behind the con, investigators say, is a black market connecting foreign criminal networks to server farms that blast scam texts to victims. The scammers use phishing websites to collect credit-card information. They then find gig workers in the U.S. who will max out the stolen cards for a small fee. Making the fraud possible: an ingenious trick allowing criminals to install stolen card numbers in Google and Apple Wallets in Asia, then share the cards with the people in the U.S. making purchases half a world away.

An anonymous reader shares a report: An attorney in a New York Supreme Court commercial case got caught using AI in his filings, and then got caught using AI again in the brief where he had to explain why he used AI, according to court documents filed earlier this month.

New York Supreme Court Judge Joel Cohen wrote in a decision granting the plaintiff's attorneys' request for sanctions that the defendant's counsel, Michael Fourte's law offices, not only submitted AI-hallucinated citations and quotations in the summary judgment brief that led to the filing of the plaintiff's motion for sanctions, but also included "multiple new AI-hallucinated citations and quotations" in the process of opposing the motion.

"In other words," the judge wrote, "counsel relied upon unvetted AI -- in his telling, via inadequately supervised colleagues -- to defend his use of unvetted AI."

The case itself centers on a dispute between family members and a defaulted loan. The details of the case involve a fairly run-of-the-mill domestic money beef, but Fourte's office allegedly using AI that generated fake citations, and then inserting nonexistent citations into the opposition brief, has become the bigger story.

OpenAI and Broadcom are working together to develop and deploy 10 gigawatts of custom AI chips and computing systems over the next four years, a high-profile partnership aimed at satisfying some of the startup's immense computing needs. From a report: OpenAI plans to design its own graphics processing units, or GPUs, which will allow it to integrate what it has learned from developing powerful artificial-intelligence models into the hardware that underpins future systems. As part of the agreement announced Monday, the chips will be co-developed by OpenAI and Broadcom and deployed by the chip company starting in the second half of next year. The new agreement will be worth multiple billions of dollars, people familiar with the matter said.

Broadcom specializes in designing custom AI chips that are specifically tailored to certain artificial-intelligence applications. It began working with OpenAI on creating a custom chip 18 months ago, and the companies broadened their partnership to include work on related components, including server racks and networking equipment.

Cryptologist/CS professor Daniel J. Bernstein is alleging that America's National Security Agency is attempting to influence NIST post-quantum cryptography standards.

Bernstein first emphasizes that it's normal for post-quantum cryptography (or "PQ") to be part of "hybrid" security that also includes traditional pre-quantum cryptography. (Bernstein says this is important because since 2016, "We've seen many breaks of post-quantum proposals...")

"The problem in a nutshell. Surveillance agency NSA and its [UK counterpart] GCHQ are trying to have standards-development organizations endorse weakening [pre-quantum] ECC+PQ down to just PQ." Part of this is that NSA and GCHQ have been endlessly repeating arguments that this weakening is a good thing... I'm instead looking at how easy it is for NSA to simply spend money to corrupt the standardization process.... The massive U.S. military budget now publicly requires cryptographic "components" to have NSA approval... In June 2024, NSA's William Layton wrote that "we do not anticipate supporting hybrid in national security systems"...

[Later a Cisco employee wrote of selling non-hybrid cryptography to a significant customer, "that's what they're willing to buy. Hence, Cisco will implement it".]

What do you do with your control over the U.S. military budget? That's another opportunity to "shape the worldwide commercial cryptography marketplace". You can tell people that you won't authorize purchasing double encryption. You can even follow through on having the military publicly purchase single encryption. Meanwhile you quietly spend a negligible amount of money on an independent encryption layer to protect the data that you care about, so you're actually using double encryption.
This seems to be a speculative scenario. But Bernstein is also concerned about how the Internet Engineering Task Force handled two drafts specifying post-quantum encryption mechanisms for TLS ("the security layer inside HTTPS and inside various other protocols"). For a draft suggesting "non-hybrid" encryption, there were 20 statements of support (plus 2 more only conditionally supporting it), but 7 more statements unequivocally opposing adoption, including one from Bernstein. The IETF has at times said they aim for "rough consensus" — or for "broad consensus" — but Bernstein insists 7 opposers in a field of 29 (24.13%) can't be said to match the legal definition of consensus (which is "general agreement"). "I've filed a formal complaint regarding the claim of consensus to adopt."

He's also written a second blog post analyzing the IETF's decision-making process in detail. "It's already bad that the IETF TLS working group adopted non-hybrid post-quantum encryption without official answers to the objections that were raised. It's much worse if the objections can't be raised in the first place."

Thanks to alanw (Slashdot reader #1,822) for spotting the blog posts.

An anonymous reader shared this report from the Independent: Bitcoin and Ethereum both saw record liquidations as investors reacted to fears over a trade war, which saw many crypto investors move their money to stablecoins or safer assets... Bitcoin fell by more than 10 per cent to below $110,000, before recovering to $113,096 on Saturday morning. The value of Ethereum slumped by 11.2 per cent to $3,878. Other cryptocurrencies, including XRP, Doge and Ada, fell around 19 per cent, 27 per cent, and 25 per cent in the last 24 hours, respectively.
LiveMint shares some statistics from Bloomberg: Citing 24-hour data from Coinglass, the report noted that more than $19 billion has been wiped out in the "largest liquidation event in crypto history", which impacted more than 1.6 million traders. It added that more than $7 billion of those positions were sold in less than one hour of trading on October 10. According to data on CoinMarketCap, the cryptocurrency market cap has dived to $3.74 trillion from the record-high $4.30 trillion level, the previous day. Trading volumes as of the market close were recorded at $490.23 billion.

Bitcoin retreated on Friday, as US-China trade tensions reignited, after racing to record highs earlier in the week as persistent rate-cut bets and signs of some cooling in geopolitical tensions helped boost risk. Bitcoin was trading at $105,505.4 on Friday, down 13.15% on the day.

"Nvidia is investing billions in and selling chips to OpenAI, which is also buying chips from and earning stock in AMD," writes SFGate. "AMD sells processors to Oracle, which is building data centers with OpenAI — which also gets data center work from CoreWeave. And that company is partially owned by, yes, Nvidia.

"Taken together, it's a doozy." There are other collaborations and rivalries and many other factors at play, but OpenAI is the many-tentacled octopus in the middle, spinning its achievement of ChatGPT into a blitz of speculative investments. "We are in a phase of the build-out where the entire industry's got to come together and everybody's going to do super well," OpenAI CEO Sam Altman told the Wall Street Journal on Monday. "You'll see this on chips. You'll see this on data centers. You'll see this lower down the supply chain...."

Some worry that the more closely companies intertwine, the more susceptible they are to creating a bubble, or a market not actually supported by real consumer demand. "You don't have to be a skeptic about AI technology's promise in general to see this announcement as a troubling signal about how self-referential the entire space has become," Bespoke Investment Group wrote in a note to clients, per CNBC. "If NVDA has to provide the capital that becomes its revenues in order to maintain growth, the whole ecosystem may be unsustainable..."

Also, even with Nvidia's investment, AMD's shares and OpenAI's repeated fundraises, the ChatGPT-maker doesn't have the cash to meet all of these vast commitments. And if OpenAI's soaring projections about demand for AI computing don't bear out, there will be a lot of committed money — and a large share of the stock market — that would see its foundations topple.
Thanks to long-time Slashdot reader mspohr for sharing the news.

"Next time Amazon hypes its Prime Days savings, remember this: The prices during the sale aren't always better," writes a Washington Post technology columnist. "I've got the receipts to prove it." I would have saved, on average, almost nothing during Amazon's recent fall "Prime Big Deal Days" — and for some big-ticket purchases, I would have actually paid amore. For the sale that took place Oct. 7 and 8, my family went in prepared. We had a shopping list with prices we'd been tracking... A TV stand he'd been watching jumped 38 percent to $379, from $275 on Oct. 2. Same story for a few other big-ticket items on his list — another console went up from $219.99 to $299. Those products weren't listed as "big deals" on the site, but we certainly didn't expect their prices to spike during Prime Days.

And in other cases, Amazon marketed discounts that turned out to be the exact price it had charged in recent weeks. One example: an Oral-B electric toothbrush was listed as 39 percent off, but actually the same price as in August... Other consumer advocates have warned one common trick is for Amazon to feature artificially inflated "before" prices to make discounts appear larger than they are. Ahead of Amazon's 2017 Prime Day, the nonprofit Consumer Watchdog reported that 61 percent of reference prices on Amazon were higher than any price the company had charged for those items in the prior 90 days... I found products listed as Prime Day discounts that cost the same as I'd paid less than a month earlier. For example, a pack of coronavirus tests I bought on Sept. 12 was the same price on Oct. 8, but listed as "39 percent off." Amazon said I'd gotten a particularly good deal in September, and the Prime Big Deal Days price offers "meaningful savings compared to the typical price customers have paid on Amazon over the last 90 days...."

To actually get a good deal on Amazon, go in with a plan. I use a free website called CamelCamelCamel, which tracks Amazon's historical prices. You can see what's really a discount — and set alerts when prices drop to your target.
The reporter checked every non-grocery purchase they'd made on Amazon for six months. Purchasing the same products on Amazon's "Big Deal Days" would have brought savings of just 0.6%. "And that doesn't include the $139 annual fee to be a member of Amazon Prime."

Apple is finalizing a deal to acquire the team and computer vision technology of Prompt AI. CNBC reports: Leadership at Prompt told employees of the pending transaction at an all-hands meeting on Thursday and said that those who don't end up joining Apple will be paid a reduced salary, and encouraged to apply for open roles at the company, according to audio that was accessed by CNBC.

Prompt was founded in 2023 and raised a $5 million seed round that year led by AIX and Abstract Ventures. Co-founders include CEO Tete Xiao, a notable AI researcher with a Phd in computer science from UC Berkeley, and President Trevor Darrell who was a founder of the Berkeley Artificial Intelligence Research (BAIR) lab. Investors will get paid some money in the deal but "won't be made whole," executives said in the meeting. Prompt employees were asked to refrain from mentioning Apple until further notice while searching for other jobs or updating friends and family on their situation.

Prompt's flagship app, Seemour, connects to home security cameras, adding sophisticated capabilities. The technology helps cameras detect specific people, pets and other animals or objects around a household, and to send alerts and text-based descriptions of unusual activity or answer questions about what's been happening in front of the camera. Xiao told employees at the meeting that while Prompt AI's technology and the Seemour app were working well, the business model wasn't. The company is retiring the Seemour app, and plans to inform users their data will be deleted and privacy protected, executives said.

Lyft is teaming up with Tensor Auto to launch hundreds of AI-powered "Robocars" across Europe and North America starting in 2027. Bloomberg reports: Tensor Robocars, the first deliveries of which are planned in late 2026, have more than 100 sensors including cameras, lidars and radars, and processes sensor data with artificial intelligence technology powered by Nvidia Corp. chips on board. The vehicles will come from the manufacturer with Lyft's platform installed, which will allow owners to make money on the rideshare network in markets where level 4 autonomous technology is available, according to the joint statement. Lyft has reserved hundreds of Robocars via its affiliates for its own fleet operations, subject to regulatory approvals.

A new book, by Wall Street Journal reporter Saabira Chaudhuri, traces how disposability became a deliberate business strategy rather than an accidental consequence of modern commerce. The book, titled "Consumed: How Big Brands Got Us Hooked on Plastic," emerged from her reporting on how plastic bottles transformed bottled water from an occasional restaurant treat into an everyday staple.

Excerpts from a Bloomberg story: After World War II, the plastics industry made a conscious pivot. Lloyd Stouffer, an industry figure, openly said plastics should move from durable goods to disposables because companies make more money selling something a thousand times than once. The industry sold consumers on hygiene, convenience, modernity and easier household management. McDonald's dropped polystyrene clamshells in the late 1980s under activist pressure but simply swapped one single-use product for another.

Paper containers still cannot be recycled well once food soaks in. The old diaper-service model disappeared. Companies collected, washed and returned cloth diapers like the milkman, but plastics helped kill that business model. Chaudhuri argues companies built their businesses on disposability and will not change unless regulation forces everyone to move together. Executives admit that if they launch a reusable product but competitors do not, they lose market share and face shareholder backlash. Packaging standardization would improve recycling economics. Colored plastics like red shampoo bottles cannot be recycled in a closed loop and are down-cycled into gray products like pipes.