Trump’s Truth Social listing doubles former president’s net worth Donald Trump’s social media platform Truth Social went public this week, with Wall Street valuing the company at over $10 billion at its peak. Truth Social – which the former president launched in 2021 – is seen as a rival to X (formerly Twitter) and […]
Trump’s Truth Social listing doubles former president’s net worth
Donald Trump’s social media platform Truth Social went public this week, with Wall Street valuing the company at over $10 billion at its peak.
Truth Social – which the former president launched in 2021 – is seen as a rival to X (formerly Twitter) and other social media platforms, although it is only estimated to have around 600,000 monthly users – compared with 550 million monthly users at Twitter’s last available numbers.
Despite the relative modesty of the platform, shares surged in parent company Trump Media and Technology Group as it debuted on the New York Stock Exchange, instantly pushing its founder among the ranks of the 500 richest people in the world, according to Bloomberg’s Billionaires Index.
Rather than list Truth through an IPO, the firm debuted through a merger with listed shell company Digital World Acquisition Corp, which was launched purposely to buy the platform.
The news couldn’t come at a better time for Trump, who is currently running to return to the White House in November’s election amid a myriad of legal troubles.
Chinese firm buys European “flying car” tech
A flying car which featured on Amazon’s Grand Tour will go into wider production, after the technology for AirCar was sold to China’s Jianxin Group for an undisclosed fee.
Slovakian carmaker KleinVision has struck a deal with Jianxin for its AirCar flying car technology that will see the vehicle – which had successfully been tested in Slovakia – produced in China.
AirCar is a dual-mode craft, which can reach heights of more than 8,000ft and speeds of over 100mph.
It was certified to fly in Slovakia back in 2022 after completing more than 200 take-offs and landings during 70 hours of rigorous flight testing to European Aviation Safety Agency standards.
‘This partnership represents a significant step in our mission to expand global access to revolutionary mobility solutions and drive progress in the industry,’ said Anton Zajac, co-founder at KleinVision.
National Grid facing “pivotal moment” over growing data centre power demand
The UK National Grid has warned that increased reliance on data centres for tools such as artificial intelligence and quantum computing is set to drive a spike in energy usage.
Chief executive John Pettigrew warned the power data centres use will increase six-fold in the next decade due to the growth in foundational technologies like quantum and AI.
In a speech shared via LinkedIn, Pettigrew said it was now a “pivotal moment” for grid transformation with forecasts claiming demand for power will double by 2050.
“Today, just like in the 1950s, we find ourselves with a network that’s constrained,” he said. “Demand on the grid is growing dramatically, and forecast to double by 2050 as heat, transport and industry continue to electrify.
We are at “a moment in time that requires innovative thinking and bold actions to create a transmission network for tomorrow’s future,” Pettigrew added.
Musk to make Grok available to X Premium users
Elon Musk has revealed plans to make his AI chatbot Grok available for premium subscribers to the X social media platform later this week.
Grok, which was developed by Musk-owned AI firm xAI, is being pitched by the Tesla boss as a rival to ChatGPT. It has been available to X’s Premium+ subscribers since exiting early beta in December.
In a tweet, Musk announced plans to give access to subscribers of the cheaper Premium tier – though this will still be limited by territory.
Last week, Musk said xAI would open source Grok after the billionaire launched legal action against OpenAI – a company he was an early backer of – for allegedly breaching an original founding agreement that it would be open source. OpenAI has denied Musk’s claims.
8m UK jobs “at risk” due to AI, report claims
A report from the Institute for Public Policy Research (IPPR) has warned that as many as 8 million UK jobs could lost due to AI adoption in what it calls the “worst case scenario”.
Jobs mostly occupied by women, younger workers and those on lower wages are at most risk from automation, the IPPR said, with entry level, part-time and administrative jobs most exposed to being replaced by AI in the next three to five years.
The think tank said the UK was facing a “Sliding Doors” moment as more companies integrate generative AI into their technology stacks, automating everyday tasks that might otherwise be managed by a human.
Analysing 22,000 tasks in the economy covering every type of job, the IPPR said 11% of tasks currently done by workers were at risk. This could, though, increase to 59% of tasks in the second wave as technologies develop to handle increasingly complex processes.
