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| Trade hurdle: Temu and Shein suffered a drop in US sales after President Donald Trump said he would scrap a duty exemption that provided a benefit to small purchases from the online shopping sites. Musk's loyalists: Elon Musk is lining up a familiar group of deep-pocketed backers in his effort to pursue a takeover of OpenAI. Brain implant research: Paradromics, a brain implant company, is partnering with Saudi Arabia's Neom to research and develop therapies in the Middle East and North Africa. | |
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| Mercury Technologies, which provides online banking tools and a physical credit card to startups, may be valued at more than $3 billion — double its valuation from 2021 — in a funding round that Sequoia Capital is in talks to lead. | |
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| In today's Tech In Depth, Yazhou Sun and Benoît Berthelot write from the end of this week's AI Summit in Paris. While French President Emmanuel Macron's effort at AI diplomacy may not have been a success, the business leaders at the event took full advantage of the sideline conversations. For more of Bloomberg's coverage of the technology industry, subscribe here. | |
This week in Cyber Bulletin | |
| Nation-state hacking groups are moonlighting as ransomware groups, trying to use their cybercriminal resources to generate a profit, Julie Zhu writes in this week's Cyber Bulletin. For more Bloomberg coverage of the cybersecurity industry, subscribe here. | |
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