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Sep 15, 2025
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Welcome back! OpenAI expects to further reduce its revenue share with Microsoft. Beijing accuses Nvidia of antitrust breach as the U.S. and China engage in trade talks. Treasury Secretary Scott Bessent says the U.S. and China are “very close” to an agreement on TikTok.
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OpenAI expects to further reduce the revenue it shares with partners, namely Microsoft, over the next half decade, even as it forecasts revenue will climb toward $200 billion. The ChatGPT maker projects sharing about 8% of its revenue with its partners in 2030, down from just under 20% this year, The Information reported Friday. It’s made the projection even though under the terms of its agreement with major backer Microsoft, it gives up 20% of its revenue to the software giant through 2030. OpenAI is slated to gain
$50 billion from reducing the revenue share below 20% through 2030, money which it could use to offset record-breaking expenses for computing power before that year, the report said.
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Chinese regulators announced Monday that Nvidia violated anti-monopoly law in its $7 billion acquisition of Israel’s Mellanox Technologies. Beijing’s attack on Nvidia comes at a time when senior officials from the U.S. and China are entering the second day of trade negotiations in Spain. The State Administration for Market Regulation, China’s top antitrust enforcement agency, said its initial investigation launched in December found that Nvidia had breached the conditions set for the 2020 deal. The agency, without providing any details on the alleged violation, said the U.S. company would face further investigation. Nvidia acquired Mellanox in April 2020, and the networking company’s technology, which enables the construction of large clusters of chips, has since become essential for Nvidia’s dominance in AI
chips. The deal was originally approved by Chinese authorities under conditions requiring Nvidia not to bundle Mellanox equipment with its chip sales in China and to avoid any discrimination against Chinese customers. Beijing has increasingly used antitrust reviews of both current and past acquisitions as a countermeasure against U.S. efforts to limit China’s technological advancement, The Information reported in December.
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U.S. Treasury Secretary Scott Bessent said Monday that the U.S. and China are “very close” to reaching an agreement on a deal for TikTok, according to Bloomberg and other media outlets. Bessent made the comment in Madrid, Spain, where he is leading the U.S. delegation’s trade negotiations with a Chinese delegation led by Vice Premier He Lifeng. The fate of TikTok in the U.S. is one of the issues the two countries are discussing in the trade talks. “I think on the TikTok deal itself, we are very close or we’ve resolved the issue. There are a range of other asks that are unresolved,” Bessent told reporters, according to Bloomberg. While the U.S. Congress last year passed a law that forces a ban or sale of TikTok in the U.S., President Donald Trump has
delayed the law’s enforcement multiple times this year. In the meantime, Trump has been talking about striking a deal that changes the ownership of TikTok’s U.S. business as a way to allow the video app to continue operating in the country.
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Penske Media Corp., owner of a wide range of entertainment publications include Rolling Stone, Variety and Billboard, sued Google on Friday, alleging its introduction of AI overviews to search results had reduced traffic to Penske’s websites and its revenue. Penske alleged that Google’s AI Overviews—which provide AI-generated answers to queries—reduces the need for people to click through to links to articles generated by search queries. Penske estimated that “organic affiliate revenues”—commissions Penske receives when links to retailers in articles results in a reader buying something—have “declined by more than a third by the end of 2024. This was a result of decreased referrals from Google Search,” the company said in a complaint filed with federal court in the District of Columbia on Friday. Penske’s suit reflects mounting unhappiness among web publishers about how Google’s introduction of AI Overviews has reduced traffic being referred to their sites from Google search and the ad revenue they get as a result. Penske also complained in the suit that Google was training its AI models on its material, and using its articles to create the AI-generated summaries. The company noted that preventing Google from using its content for training would result in its content not showing up in Google search results, as The Information has reported.
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On the eve of U.S.-China trade talks, tensions increased on Friday after the U.S. added a number of Chinese chip firms to the list of companies deemed a threat to national security and which are restricted from buying U.S. technology. That prompted China to retaliate, by announcing an investigation into the U.S. “dumping” older chips into the Chinese market. A Chinese Ministry of Commerce spokesperson accused the the US government of abusing export controls. On Sunday representatives of the U.S. and China are due to meet in Spain to discuss a number of trade issues, including the status of TikTok. The developments on Friday appear to be a minor skirmish ahead of those talks.
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President Donald Trump on Sunday said the future of TikTok in the U.S. depends on China, as the two countries discuss the video app’s fate during their trade negotiations in Spain this week. “We may let it die, or we may, I don’t know, it depends, up to China,” Trump said about TikTok on Sunday, according to Bloomberg and other media outlets. Trump also said that he “may or may not” extend the deadline for enforcing the U.S. law that forces a ban or sale of TikTok’s U.S. operations. Trump’s comments come as a U.S. delegation led by Trade Secretary Scott Bessent and a Chinese delegation led by Vice Premier He Lifeng are entering the second day of their trade negotiations in Madrid. Earlier, a spokesperson for the Chinese Ministry of Commerce confirmed that TikTok would be one of the topics during the
negotiations. In a statement late last week, the ministry spokesperson said: “China is firmly committed to safeguarding the legitimate right and interests of its enterprises and will review the TikTok matter in accordance with laws and regulations.” TikTok has been operating in the U.S. since January under presidential waivers of a law passed last year that requires the company to cut ties with ByteDance, its Chinese parent. While the Trump administration has negotiated a consortium of U.S. investors to buy TikTok U.S., the deal requires approval of the Chinese government, which has been expected to consider it among broader trade issues. The current waiver is due to expire on Sept. 17, just a few days after the trade talks, although President Trump has automatically renewed the waivers as necessary.
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