Tesla formally broke ground on its first lithium refinery in Robstown, Texas, on Monday afternoon, marking the electric vehicle maker’s foray into processing a key metal used in its batteries. Tesla CEO Elon Musk, who stood in front of Tesla’s new Cybertruck as tractors worked the earth in the background, said the company expects the facility to produce enough lithium to build batteries for...
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Why Nvidia Aids Cloud Rivals of AWS, Google and Microsoft
Nvidia’s business of selling chips for artificial intelligence is going gangbusters, but the company faces a looming problem. Its biggest customers—cloud providers including Microsoft, Google and Amazon—are making their own AI chips to reduce their reliance on Nvidia. In response, Nvidia is helping two upstart cloud providers whose ambitions don’t include developing...
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MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.