This week was a whirlwind of tech and market news. From halted chip sales in China to a high-stakes court battle involving Elon Musk, there was no shortage of headlines. Here’s a quick recap of the top stories.
Trump Approves Nvidia Sales, Beijing Disagrees
Despite the U.S. government’s approval for Nvidia to sell its H200 chips to several companies, including Alibaba and Tencent, not a single delivery has been made. This is due to the Chinese government’s focus on promoting domestic AI alternatives, such as Huawei, to reduce reliance on foreign tech. U.S. Commerce Secretary Howard Lutnick highlighted this blockage, stating that “the Chinese central government has not let them, as of yet, buy the chips, because they’re trying to keep their investment focused on their own domestic industry.”
Musk vs. OpenAI: The Court Battle Continues
The legal battle between Elon Musk and OpenAI has entered the jury phase. The case revolves around alleged broken nonprofit commitments and potential billions in damages. A nine-person advisory jury will begin deliberations on Monday, with U.S. District Judge Yvonne Gonzalez Rogers set to issue the final ruling on liability. Read the full article here.
Meta’s AI Chief Refutes Talent Poaching Claims
Meta’s AI Chief, Wang, has dismissed claims that the company has been aggressively recruiting top AI researchers from competitors, allegedly offering up to $100 million. Wang emphasized that the recruits were attracted by other factors, such as the opportunity to have a large amount of computing power at their disposal.
Anthropic To Brief Homeland Security On AI Cyber Model
Anthropic is set to meet with the House Committee on Homeland Security to discuss Mythos, the company’s cybersecurity-focused AI system. The discussion is expected to center on Mythos’ “capabilities, national security implications, and policy considerations.”
Figma’s Q1 Growth Raises Questions
Figma’s stock is surging following its Q1 results. However, there is uncertainty around whether its AI-powered tool, Make, can become “a material and durable growth driver,” according to BTIG.
Cerebras’ Stellar Nasdaq Debut
Shares of Nvidia rival Cerebras Systems Inc. opened at $350, significantly above the IPO price of $185 on Thursday. The stock cooled a bit soon after and ended the day at $311 and a $66 billion valuation, in the first huge tech IPO of 2026.
Cisco Posts Stellar Q3 Results
Cisco posted third-quarter revenue of $15.84 billion, beating analyst estimates of $15.56 billion. The networking equipment company reported adjusted earnings of $1.06 per share for the quarter, beating analyst estimates of $1.03 per share, according to Benzinga Pro. Shares of the company gained more than 15% are up 22% over the past week.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
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