iiinova — where your digital self keeps evolving

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Owen Boswarva @owenboswarva.bsky.social · 27/09/2026

Big companies warn lack of 'AI openness' could hit investment in Europe www.ft.com/content/aeab... (£) In this framing, 'AI openness' = "whether data protection rules allowed them to use company and client information for AI applications" #genAI #AIpolicy #techpolicy #dataprotection #openwashing

One big US bank said it used a traffic-light system to rank countries on criteria including whether their government had made AI use a priority and whether data protection rules allowed them to use company and client information for AI applications.

"We are less inclined to add headcount in countries we consider red for AI adoption," said an executive from the bank. "There are certain countries in mainland Europe that fall into that category; we consider the UK greenish," they added.

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Chris Dillow @chrisdillow.bsky.social · 19/09/2026

The only thing we learn from this is that Adam Smith anticipated the BBC: the "disposition to admire, and almost to worship, the rich and the powerful...is...the great and most universal cause of the corruption of our moral sentiments." www.bbc.co.uk/news/article...

bbc.co.uk

Billionaire Manchester United owner Sir Jim Ratcliffe says he has lost confidence in UK

Ineos founder Sir Jim Ratcliffe tells the BBC he thinks the country is "on the slide" and calls for more investment in the North Sea.

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David Dayen @ddayen.bsky.social · 16/09/2026

A company with up to $5 billion in assets could qualify as a small business under new federal rules, making them eligible for contracts and loans earmarked for SBA support. The companies building data centers for Big Tech, for example, could get small business credits. Great story from Zachary Groz.

prospect.org

The Trump Administration Creates a Monopolization Machine - The American Prospect

New rules could grant ‘small business’ benefits to companies with up to $5 billion in assets. Actual small businesses may have no choice but to sell.

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Owen Boswarva @owenboswarva.bsky.social · 15/09/2026

A letter published today confirms DCMS is going ahead with the review of ICO's culture and governance that Liz Kendall announced in July committees.parliament.uk/publications... This follows from the business with John Edwards ICO becomes the Information Commission on 30 Sep #FOI #dataprotection

We can confirm that the independent review is going ahead. Work is underway to select and appoint the reviewer, and to confirm their terms of reference and governance arrangements.

Appointment of the reviewer is subject to standard processes and procedures being completed, such as a conflicts of interest check. It would not be appropriate to comment on potential reviewers, or to set out a definitive timetable, before those processes have concluded.

The review will begin its work as soon as the necessary steps are complete, and we will write to the Committee with the review’s terms of reference, details of the appointed reviewer, and the timetable for the review when they are confirmed, which we expect to be early in autumn.

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Ed Zitron @edzitron.com · 11/09/2026

Holy shit. Bloomberg just verified one of my biggest scoops - that Microsoft only has 2gw of operational capacity. I had it at 1.993GW in prep for the story that @aishadown.bsky.social and I did for the guardian. Vindication! www.theguardian.com/technology/2...

Brody Ford @BrodyFord
Lot of speculation out there about how many GPUs are actually deployed.
Today, Microsoft has about 2GW of Al-specific capacity live. around 17% of the total fleet.
Only about 2 gigawatts of the company's current 12-gigawatt capacity is centered on Al-specific chips, the people said. This is expected to grow to about a third of the 38 gigawatts Microsoft plans to have online in 2032, they said.
Brody Ford @BrodyFord_ • 23h
scoop: Microsoft is planning a massive expansion of its data center fleet to 38 gigawatts. $msft w/ @mattmday bloomberg.com/news/features/...
3:15 PM • Sep 11, 2026 • 12.5K Views

Are Microsoft's AI
plans being held back by a shortage of chips?
Guardian investigation finds
apparent discrepancy between what tech company has said about its AI capacity - and the
number of advanced chips it
has in operation
By Aisha Down and Ed Zitron
A Microsoft datacentre in the North Holland village of
Middenmeer in the Netherlands. Photograph: Ramon van
Flymen/EPA

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Ed Zitron @edzitron.com · 10/09/2026

Aaaaand there you have it folks archive.md/2026.09.10-0...

I'm sure the next couple days will be crazy, but after things settle down, have you figured out what's next for you?
I mentioned AI 2027 and AI 2040 before. I think these are really interesting predictions of the way the future looks. They're not done by any big labs; these were done externally by researchers that just cared about predicting what the world looks like. These have been very good resources for me and a lot of other researchers for trying to think through the implications of what you're doing.
So I expect to do something like this-some sort of independent commentary on where things are going, at least for the short term before we get some sort of pacing agreement or slowdown. Ilf| it looks like we're not going to rush straight into recursive self-improvement, maybe I'd consider going to an auditing agency or some third-party regulation or transparency agency. But for now, I think I'm just gonna try and take stock of where the situation is.
Update 9/9/26 7:40pm ET: This story has been updated with a statement from Anthropic.

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Henry Mance @henrymance.ft.com · 08/09/2026

Sir Edward Leigh MP: “What is happening in the West Bank... is ethnic cleansing... I am proud to say, as the longest-serving member of the Conservative Friends of Israel, that I absolutely and fully support what [Ed Miliband] is doing today, because it’s about standing up for freedom and justice"

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Wolfie Christl @wchr.bsky.social · 01/09/2026

The Northern California Regional Intelligence Center (NCRIC) showed interest in buying Penlink's ad-based geolocation mass surveillance system Webloc, according to FOI records obtained by @shawnsegal.bsky.social, which also contain a recent Webloc promo brochure: fineprint.report/feed/ncric-p...

fineprint.report

A Bay Area Fusion Center Asked PenLink to Test Ad-ID Location Tracking on an Active San Jose PD Case

On August 5, 2026, an Assistant Deputy Director at the Northern California Regional Intelligence Center (NCRIC) emailed PenLink asking about a trial of Webloc,

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Luis Alberto Montezuma 路易斯·阿尔贝托·蒙特祖玛 @montezumachavez.bsky.social · 01/09/2026

The CalPrivacy has issued a decision requiring a Virginia-based data broker, SalesIntel Research, Inc., to pay a $36,400 fine and change certain practices after failing to register timely with the Agency’s Data Broker Registry. privacy.ca.gov/wp-content/u...

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Ed Zitron @edzitron.com · 26/08/2026

So, sort of, but worth considering: 1. $17bn is largest than meta's last quarterly profit (around $15bn) 2. Meta is demolishing its FCF because of AI, and $17bn is a REALLY big chunk of change 3. Meta's user growth is stalling

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Richard Corbett CBE @richardcorbett.bsky.social · 23/08/2026

The group Another Europe is Possible says it has identified five principles to win a sustainable, democratic majority for EU membership www.anothereurope.org/the-path-to-...

anothereurope.org

The path to rejoining

Five principles to win a sustainable, democratic majority for EU membership Back full EU membership for the UK Time to ditch the ‘red lines’ and put the UK fully back...

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Private Eye Magazine @privateeyenews.bsky.social · 06/08/2026

Hey Meta, why are all my friends avoiding me? From the new Private Eye, out now.

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Oxford Clarion @oxfordclarion.bsky.social · 04/08/2026

Leaders of flag-raising group Raise the Colours Oxfordshire placed trackers on highway workers’ cars to find out their home addresses, the High Court has heard. RTC then attempted to intimidate the highway staff into no longer removing flags by repeating their addresses to them.

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Ed Zitron @edzitron.com · 31/07/2026

Per UBS, OpenAI and Anthropic will account for 27% of Google Cloud's 2026 revenue and more than 48% of 2027's. Investors are being sold a story about diverse AI demand that is simply not true - hyperscalers spent a trillion dollars to feed money back to themselves and pretend it's real growth.

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Ed Zitron @edzitron.com · 29/07/2026

Here's my interview with CNBC on how Zuckerberg's vacuous talking points about AGI and open source exist to distract from how Meta burned $180bn in capex (and more off-balance-sheet) to make also-ran LLMs that don't deliver an iota of the promise of "personal superintelligence."

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Ed Zitron @edzitron.com · 31/07/2026

I can theoretically see how they came to many of the conclusions I came to and wrote tens of thousands of words about months ago in this piece on their own, but it's a little surprising to see the Times write something so similar to a piece I wrote two weeks ago www.wheresyoured.at/the-openai-b...

Oracle’s annual report in June trumpeted the success of its move into A.I. and assured investors that its cloud business was still growing and that its strong cash flow would be sufficient to cover its obligations. But the report also nodded to the precariousness of its situation. The company noted that it could not guarantee that it would be able to manage its outstanding debt, which had now grown to $130 billion. It warned that its customers might not be able to pay for its services and said the regulatory environment might change, which could jeopardize its business with China.

In July, S&P Global Ratings downgraded Oracle’s credit rating. Its debt was now just one notch above junk level. If it is downgraded once more, Oracle will become what’s known on Wall Street as a “fallen angel,” which would drive up its borrowing costs even further while shrinking its pool of potential lenders.

As a result of that, S&P Global downgraded Oracle’s credit rating to BBB/A-2, the literal lowest level before it’ll become junk-grade, meaning that one more downgrade (though it would have to be from two ratings agencies) from here would risk Oracle becoming a “fallen angel,” with investment funds (that can’t hold junk grade debt) having to jettison its debt from indexes, as happened to Ford in March 2020, leading to over $35 billion in debt being dumped and its borrowing costs skyrocketing to between 8.5% and 9.625% when it raised in April 2020. For some context, Ford reported an average interest rate of 5.2% on its long term debt in its 2019 annual report.

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chiller @chiller.eurosky.social · 29/07/2026

This is ... horrific

lawsuit, Anthropic used a hydraulic powered cutting machine to neatly remove the pages from the books it procured from book resellers and then scanned them usina industrial- grade imaging equipment. In other words, it was literally ripping off authors' books to train its Al
This process took advantage of a egal concept known as first-sale doctrine, which allows a buyer to do what they want with a purchase without the original copyright holder's say-so. And since Anthropic was turning the original physicak texts into digital ones - rather than redistributing them as new copies a iudqe found this to be "transformative." and therefore
protected by fair use

One small book seller said that in April, he suddenly went from selling no more than 20 books a week to hundreds. and he's almost certain that the customers are Al labs. noting the random selection of the books and how they all have ISBNs He added that his inventory is full with rare and out of print books. meaning that an Al company could be destroying some of the few remaining copies that can be found

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Ed Zitron @edzitron.com · 28/07/2026

And this — the capex spending, the circular financing, the backstops, the cooling bond market — all comes down to one fundamental problem: the AI industry tried (and failed) to turn LLMs from a niche tool into a general-purpose tool. www.wheresyoured.at/the-more-you-buy-the-more-you-lose/

Anyway, I want you to imagine you wake up tomorrow, and nobody is talking about AI in the news. AI-related stocks aren’t dominating the market. Nobody on Twitter is discussing AI. Nobody you know or talk to is talking about AI. Nobody you know is using it, nobody you know has even heard of it.

Would you still be as excited? Would you feel the pressure to use it? Would any of this make any sense if there wasn’t someone threatening your job or scaring you in the media every day? Would any of this seem rational?

AI, as it stands, is an exercise in kayfabe — a thing people are taking seriously because the rich and powerful are saying they have to and a media ecosystem built to celebrate them says that you need to.

And the fundamental issue, to paraphrase Roger McNamee on CNBC, is that they’re trying to make a niche tool a general-purpose technology.

The trillion-plus dollars in capex and venture investment is an attempt to turn Large Language Models that generate and summarize things into something that can do anything, because the people at the top of both the organizations building and buying AI services don’t actually do real jobs and thus can’t understand that the vast majority of tasks are neither generative nor replaceable with a median version of their outputs.

Every layer of GPU (and CPU) intensive agentic bullshit is a tacit admission that LLMs are not a tool with any of the features of “artificial intelligence” anyone has dreamed of. Their greatest innovation is their symbolic ability to scare and compel people to change who they are or how they treat others as a patronage to the tech industry, or a general fealty to the powerful.

And I fear everything will end in tears, all because those with the responsibility to tell the truth or stand in the way of grifters both opened the doors and sung their praises, attacking and othering skeptics who wanted to avoid what I fear is now an inevitably painful future.

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Adam Bienkov @adambienkov.bsky.social · 27/07/2026

First major poll to show Labour ahead of Reform since April last year, in this case by four points. Follows a series of other polls showing Labour either level with Reform or only narrowly behind

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ĐƠN GIẢN @letitbesimple.com · 25/07/2026

I'm invested deep into this long thread when I hit this post that just...pow, right in the kisser. Read this whole thing!

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Ben Zaranko @benzaranko.bsky.social · 08/07/2026

An incredible detail in @paticlarke.bsky.social's piece about the battle to provide tech solutions to the UK government observer.co.uk/news/technol...

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Ed Zitron @edzitron.com · 10/07/2026

In 2002, multiple memory manufacturers were punished by the DOJ for price fixing in the DRAM market, but in 2007, a crucial supreme court judgment made it much harder to both bring antitrust to court AND win. Monopolists won. www.wheresyoured.at/premium-the-haters-guide-to-the-memory-crisis/

In 2002, the US Department of Justice began a Sherman Act (America’s core antitrust law) investigation into the DRAM market, focusing on the five major players of the time: Samsung, Hynix (which became SK Hynix in 2012), Micron, Infineon, and Elpida. The suit came after Dell, Apple, and Gateway complained that artificially high DRAM prices resulted in lower profits between 1998 and 2002.

All parties pleaded guilty, with Samsung paying a fine of $300m — a penalty that was, at the time, the second-largest antitrust fine in US history. Others fared little better:

Hynix paid $185m
Infineon paid $185m
Elpida paid $84m
Micron cooperated with the government and avoided a fine — something that will become a bit of a trend, as you’ll see shortly.
The suit also saw criminal and civil charges laid at the feet of individually named employees. One guy, Sun Woo Lee, who was the Product Manager of DRAM at the time, pled guilty to violating section one of the Sherman Act and was given eight months in prison and a $250,000 fine. Two other Samsung execs also got jail time.

Across the Atlantic, The European Commission conducted its own investigation and issued its own penalties — €331m across ten manufacturers. Micron avoided a fine, because, as with the original Department of Justice Action, it turned in the other co-conspirators.

Quoting the European Commission’s press release: “the addressees of the decision are: Micron, Samsung, Hynix, Infineon, NEC, Hitachi, Mitsubishi, Toshiba, Elpida and Nanya. Micron, however, was not fined because it revealed the existence of the cartel to the Commission. “

Although the DOJ’s action against the DRAM industry happened more than two decades ago , it’s the most recent successful action. That’s not to say we haven’t seen other suits, but they’ve all failed — or will most likely fail — due to one very annoying reason.

This was a 2007 Supreme Court judgement that radically raised the bar to win (or even bring to trial) any antitrust case.

It says that parallel conduct — actions from companies that, from the outside, would appear to suggest that they’re working together to disadvantage new competitors, or to weaponize their market dominance at the disadvantage of consumers in a coordinated manner — is circumstantial evidence of collusion in a Sherman Act case, and such evidence is, in and of itself, insufficient to launch an antitrust investigation.

It made it so that a complaint needs to contain enough facts to show that antitrust behavior is “probable,” not just “plausible”.This is called the Twombly Test, and any case that fails to meet this standard is vulnerable to dismissal at the earliest stages.

Jones vs Micron Technology
This was a 2019 class action case against Micron, Samsung. and SK Hynix, which alleged that the three companies had colluded to tighten the supply of DRAM — resulting in sharply increased costs for consumer electronics as a result.

Note: Confusingly, there’s also a separate lawsuit from 1996 that relates to unfair dismissal called Jones vs Micron.
This alleged collusion occurred during 2016 to 2018, and the plaintiffs referred to themselves as “indirect consumers” as they weren’t buying DRAM directly, but rather buying products that included DRAM (“including Lenovo and Apple laptops and Samsung and Motorola mobile phones”).

While I’ve been unable to find the original complaint, the evidence provided included statements from company representatives made at public events, their collective participation in certain industry groups, and observable pricing trends. This was all circumstantial, and the lack of a “smoking gun” stopped the case from progressing to discovery.

As a result, it was dismissed that year, largely because it failed to meet the bar set by the Twombly rule.

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Mike O'Neill @mikeoneillcloud.bsky.social · 03/07/2026

The personal data of millions who use the largest online UK pharmacy are routinely sent to US & foreign data brokers, who publically declare themselves as profiting from such data. We told the UK companies responsible over 6 months ago, & then the ICO in April, & no action has been taken.

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Richard Corbett CBE @richardcorbett.bsky.social · 24/06/2026

Andy Burnham is being urged by business & economists to consider reversing Brexit Frontier Economics study: Rejoining EU could unlock £92 billion: a minimum 3.6% GDP boost. Much more than current “Re-set”. And benefiting the north & the midlands the most.

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Ed Zitron @edzitron.com · 23/06/2026

Today’s free newsletter is about how Silicon Valley — as exemplified by the AI bubble — has abandoned its supposed principles of rationality and meritocracy, and now more closely resembles a cargo cult desperate to recreate bygone eras of growth. www.wheresyoured.at/cargo-culture/

wheresyoured.at

Cargo Culture

If you liked this piece, you should subscribe to my premium newsletter. It’s $70 a year, or $7 a month, and in return you get a weekly newsletter that’s usually anywhere from 5,000 to 18,000 words, in...

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Matthew Hughes @matthewhughes.bsky.social · 17/06/2026

New newsletter: Generative AI is becoming the new crypto and multi-level marketing scam, promising non-techies that they can vibe-code their way to prosperity, without being candid about the costs and risks. www.whatwelo.st/p/generative...

whatwelo.st

Generative AI Is Having Its Herbalife Moment

How predatory vibe coding startups are selling false hope to young people

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Luis Alberto Montezuma 路易斯·阿尔贝托·蒙特祖玛 @montezumachavez.bsky.social · 17/06/2026

The Commercial Court (High Court) started a three-day hearing in the @iccl.bsky.social v Microsoft Collective Redress case. You can learn about Real Time-Bidding. Documents in ICCL v Microsoft: enforce.ie/wp-content/u... @johnnyryan.bsky.social

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Luis Alberto Montezuma 路易斯·阿尔贝托·蒙特祖玛 @montezumachavez.bsky.social · 16/06/2026

Governor Phil Scott has officially signed both the Vermont Data Privacy Act and the Vermont Delete Bill into law.

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Richard Corbett CBE @richardcorbett.bsky.social · 16/06/2026

The latest revelations about the scale & audacity of Russian attacks and covert interference in British politics, underline once again that their various forms of support for Brexit (money, bots, agents) may have tipped the balance in the 2016 referendum www.bbc.co.uk/news/article...

bbc.co.uk

Russia was behind arson attacks targeting PM, BBC reveals

Evidence shows Russians directing the plot and stoking tensions with fake far-right and Muslim groups.

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Ed Zitron @edzitron.com · 15/06/2026

EXACTLY what everyone wants to hear right now thenextweb.com/news/carney-...

The former central banker then drew a direct parallel to the 2008 financial crisis. Carney, who led both the Bank of Canada and the Bank of England before entering politics, said “we have similar things in terms of model risk” and called for redundancy and diversity in AI infrastructure, the same principles regulators imposed on the banking system after the collapse of Lehman Brothers.

The analogy carries weight because of who is making it. Carney was governor of the Bank of Canada during the 2008 crisis and subsequently became the first non-British governor of the Bank of England, where he spent six years strengthening financial system resilience. When he warns that concentrated AI dependence mirrors the systemic linkages that nearly destroyed the global banking system, the comparison draws on direct experience rather than rhetorical convenience.

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jflohan.bsky.social @jflohan.bsky.social · 15/06/2026

France stopped two thirds of migrant boats bound for UK last month Pre-Brexit the UK had the right to return Immigrants to other EU countries. Now we pay millions to operate a system that operates at 2/3 success rate. Rejoin the EU regain our common sense. www.thetimes.com/article/771c...

thetimes.com

France stopped two thirds of migrant boats bound for UK last month

A higher proprtion of illegal crossings were stopped last month, which ministers said showed the value of April’s £660m deal to pay for more beach patrols

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By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 12/06/2026

Before "agentic AI," we had the idea that software was your agent on the internet. That's why the technical term for a browser is a "user agent." Your browser acts on your behalf to retrieve and show it you information, in the format you choose. It's your agent: pluralistic.net/2024/05/07/t... 1/

A pig in a sty. It is wearing badly applied lipstick. From behind one hairy ear pokes the Android droid.

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GayGuy @thethew.bsky.social · 10/06/2026

The OG poster is blocking anyone who disagrees with her, I guess. I'm gonna stop engaging with this feed because she blocked all of us. Have a nice night

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Ed Zitron @edzitron.com · 13/06/2026

Sam Altman immediately trying to work out how to get ChatGPT banned

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Ian Dunt @iandunt.bsky.social · 10/06/2026

This has nothing to do with stopping crime. It is to do with a global far-right movement, coordinated on X, organised by some of the most powerful men in the world from Silicon Valley to the White House inews.co.uk/opinion/fara...

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Owen Boswarva @owenboswarva.bsky.social · 10/06/2026

ICO update on the situation with the UK's Information Commissioner, John Edwards: Temporary governance changes at the ICO ico.org.uk/about-the-ic... "The investigation has found there is a case to answer." #FOI #dataprotection

The ICO has today made temporary changes to the governance around how the Information Commissioner’s responsibilities are carried out.

This follows the completion of an independent workplace investigation relating to John Edwards, the Information Commissioner.

The investigation has now concluded. As the Information Commissioner is accountable to Parliament, and not employed by the ICO, the next steps will be determined by the Department for Science, Innovation and Technology (DSIT).

The Commissioner voluntarily stepped back from his duties on 26 February to enable the investigation to take place. He continued to receive updates through his immediate support team on the work of the office and was available should his contribution be required.

The investigation has found there is a case to answer. The Commissioner will now be temporarily unable to act in fulfilling his responsibilities for the remainder of the process.

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Ed Zitron @edzitron.com · 10/06/2026

A sixth of all insurance annuities are sitting in private credit loans, and the vast majority of private credit funds are funded by state and worker pensions. www.wheresyoured.at/hatersguide-...

AI Data Centers Are Fragile, Near-Negative-Margin Businesses Sold As Stable Infrastructure, Funded By Pension and Insurance Funds
This is why Crusoe was able to raise a $750 million credit facility from Brookfield in June 2025, funded out of Brookfield Infrastructure Debt Fund III, which in turn is funded by retirement and insurance funds like the Maine Public Employees Retirement System and the Border To Coast Pensions Partnership.

Crusoe is an unprofitable business, and makes the majority of its money from lease payments from Oracle and its Stargate Abilene data center that Crusoe is constructing — which means that its survival is tied to that of OpenAI, and Oracle’s willingness and ability to support OpenAI.

OpenAI, a company that burns billions of dollars a year, cannot afford to pay for the compute it has committed to buying. In the event that OpenAI defaults on its contract, Oracle will be left without any comparable tenant, and Crusoe will be left with no revenue to pay back its debts.

The same goes for the Blackstone- (and pension!) backed loans that are funding Oracle’s Wisconsin and Texas data centers. Oracle does not have the money to pay its debts, and will only have the money in the event OpenAI is able to pay it upwards of $100 billion a year, which will require Oracle to complete the data centers, which will take until, at best, 2028 or 2029.

Apollo’s funded a $3.5 billion “capital solution” as part of the $5.4 billion Valor and xAI data center deal from an unnamed credit fund, but likely one tied to its insurance affiliate Athene. Per The Information, SpaceX (the company that holds both functional businesses like SpaceX’s space program and Starlink as well as diseased AI company xAI) lost $5 billion in 2025, with much of that attributed to xAI, which loses around $1.46 billion a quarter, and made around $107 million in revenue.

A little over a month ago, Blackstone participated in a $10 billion debt financing for Australian data center company…

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Ed Zitron @edzitron.com · 10/06/2026

The Information reporting that OpenAI is planning to sign a 20-year-long lease on a totally unbuilt and theoretical 10GW data center that NVIDIA would partially finance. Utterly farcical, we’re at the end of the line folks www.theinformation.com/articles/ope...

The Takeaway
→ OpenAl is in advanced talks to become the tenant of a planned 10 gigawatt AI campus in Ohio.
→ OpenAl is negotiating a 20-year lease that would represent its largest infrastructure commitment to date.
→ Nvidia has discussed providing credit
support for the project.
I Powered by Deep Research

OpenAI is in advanced negotiations to lease a proposed 10 gigawatt data center campus on federal land in Ohio as part of a deal that could include financial backing from Nvidia, according to two people with direct knowledge of the discussions.
The campus under discussion would be among the biggest of its kind, with a total cost of at least $500 billion if fully built out based on today's prices for chips, labor, power and other materials, the people said. OpenAI would control the equipment in the facility under a long-term lease and would be on the hook for payments once the project starts operations, with the first phase expected in 2028.

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Ed Zitron @edzitron.com · 10/06/2026

Very important point: SoftBank was pledging *all* of its OpenAI stock (worth $60bn+ on paper) to get a $6 billion margin loan. Banks turned it down due to concerns about the value of OpenAI stock. Banks clearly do not think OpenAI is worth $852 billion. www.tradingkey.com/analysis/sto...

TradingKey - During the Asian session on June 10,
sources familiar with the matter revealed that SoftBank Group's negotiations to secure a margin loan of at least $6 billion, using its stake in OpenAl as collateral, have failed to make progress. This comes just weeks after the company lowered its initial $10
billion target by 40%. SoftBank declined to comment. According to the sources, SoftBank is still considering various financing options and may restart
negotiations in the future. The primary reason for the stalled loan lies in the fact that OpenAl's valuation lacks a basis convincing
enough for banks.

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California Privacy Protection Agency @calprivacy.bsky.social · 08/06/2026

CalPrivacy will host webinars on June 11 and June 18 for data brokers preparing to integrate with DROP for deletion request processing. Participants must register to attend and are encouraged to submit questions in advance.

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