Caroline Hyde

It comes as the Musk Tunnel Building Company negotiates with the county over tax breaks and environmental concerns.

Plus, Australia will become the first democracy to ban its youth from popular services like TikTok and Instagram.

Look, a law requiring platforms to block under-16s takes effect December the 10th.

If companies don't comply, they could be facing fines as high as $32 million.

And SoftBank founder Masayoshi Son says the company would have held on to its Nvidia shares if it had unlimited cash for its next AI investments.

SoftBank has doubled down on AI, backing the Stargate data center project, buying chip designer Ampere, and it plans to invest more in open AI by the end of the year.

Ed.

OpenAI, well, it's agreed to take an ownership stake in Thrive Holdings, an investment vehicle of its own VC backer, Thrive Capital.

It's all about accelerating enterprise AI adoption, we're told.

OpenAI says it plans to boost speed, accuracy, cost efficiency among the companies within Thrive Holdings.

Bloomberg's Seth Fiegemann joins us now on the latest that some will say, again, circular AI deals.

How is this going to be a win-win for OpenAI?

So I think we're both hearing in sort of pushback to whether this is or is not circular financing, that there is no exchange of money or funds between OpenAI and the holdings bit, which makes it confusing.

Basically, therefore, it kind of is like a venture capitalist who's an operator.

Sounds like OpenAI comes in and goes, we'll help you of all these things for zero dollars.

It's also about how VC itself is pushing boundaries in new types of vehicles.

Josh Kushner, who founded Thrive Capital all the way back in 2010, is now only recently, in April, I think, founded this Thrive Holdings.

And it's about buying stakes or even growing accounting companies.

Bloomberg's Seth Figgeman out of New York City on the Thrive Holdings OpenAI deal.

Thank you.