Also in today’s newsletter, Singapore oil trader sentenced to 17 years in jail, and Nippon Steel races to get US Steel deal cleared
In today’s newsletter: Good morning. China’s biggest tech groups are building artificial intelligence teams in Silicon Valley, hoping to poach staff from US rivals who could help them make up ground in the race to profit from generative AI. Alibaba, ByteDance and Meituan have been expanding their offices in California in recent months, in a push that comes despite Washington’s efforts to stymie their work by restricting exports of the highest-end Nvidia AI chips.
Exclusive: Donald Trump’s social media company is in advanced talks to buy Bakkt, a cryptocurrency trading venue owned by Intercontinental Exchange. Trump Media and Technology Group is closing in on an all-share purchase of Bakkt, said two people with knowledge of the talks, in a deal that would deepen the US president-elect’s push into the cryptocurrency market. 4.
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