Good Morning!

The last weekend of August is here, so pour the coffee and take it outside.

What You Missed This Week:

1. 😳 Meta Settled a Landmark Social Media Lawsuit For $16.7 Billion

Meta Platforms agreed to pay up to $16.68 billion to resolve allegations from 29 states accusing the company of engineering Facebook and Instagram to be addictive to children, deceiving the public about platform safety, and unlawfully gathering personal data from minors. It is the largest settlement of its kind in social media history, and it closes a case that had been building against the company for years. (Quartz)

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3. 🤗 Nvidia Agreed to Buy Hugging Face For $12.9Bn

Hugging Face opened the week fielding mystery bids, and by midweek Nvidia had its name on the tag. The chipmaker agreed to buy the open source AI hub for $12.9 billion, The Information reported, though Business Insider says nothing is signed yet. Neither company has commented... which, for Nvidia, is unusually quiet. Founded in 2016, Hugging Face is where developers go for open models. (TechCrunch)

4. ⚖️ Anthropic Beat the Pentagon's Supply-Chain Risk Label in Court

Turns out branding Anthropic a national security threat required more than a memo. A federal judge in California ruled that the Trump administration's supply-chain risk designation was illegal retaliation for the company's criticism, and “arbitrary and capricious.” Judge Rita Lin noted the Pentagon had also floated invoking the Defense Production Act on the company... which would make it essential, not dangerous. It is the lab's first court win on the label. (TechCrunch)

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6. 🖥️ Apple Debuted its ‘Most Powerful Chip Ever’

While Nvidia spent the week shopping for AI software, Apple stayed busy building silicon. The tech leader announced its new M5 Ultra and M6 chips, which power its new Mac Mini and Mac Studio. Apple’s deeming the M5 Ultra its “most powerful chip ever,” as it fuses two dual-die M5 Max chips to form Apple’s first quad-die chip, designed to manage hefty AI workloads. (TechCrunch)

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