Good morning readers. Picture this…Eminem, the rap god himself, is relaxing and suddenly hears that Vivek Ramaswamy, a tech entrepreneur turned Republican presidential candidate, is rapping his iconic track "Lose Yourself" at a campaign gig in Iowa. Can you even? Eminem sure couldn't. In a move that screams "Hold up, that's my track", Eminem's music publisher, BMI, shot over a cease-and-desist order to Ramaswamy's team that read something like, "Hey, Marshall B. Mathers, III (yeah, that's Eminem's real name, in case you didn't know) isn't cool with you using his beats for your political vibes."

Ramaswamy's crew was quick to respond, basically saying, "Alright, alright, we get it. Vivek was just feeling the moment. But fine, we'll leave the rapping to the OG Slim Shady." So the next time you're thinking of busting out a chart-topper at a public event, maybe double-check you've got the rights, yeah?

Let’s jump into today’s storylines.

In today’s digest:

• A tale of insider chats and media influence

• Headline Hustle: Meta plays investigator, Silicon Valley elites build new city, Tesla’s autopilot not so safe

• Strategic alliance in AI

• Pulse Points: What’s Trending

BUSINESS

Under Armour’s secret communications

In the dimly lit corridors of corporate power, where secrets are whispered and alliances forged, Kevin Plank, the founder of Under Armour, found an unusual confidante in television anchor Stephanie Ruhle. Their bond, sealed with a private phone and a special email address, was not just about late-night chats or career advice. It was a relationship that blurred the lines between journalism and corporate strategy.

The unusual advisor

The backstory goes something like this. It's 2016, and Plank is worried. Sales at Under Armour are slumping, and he's desperate for a way out. He turns to Ruhle, not just for solace, but for advice on how to handle the media storm. She suggests a bold move: give internal data to Bloomberg's competitors to manage the negative press. Plank, ever the risk-taker, takes her advice to heart.

But their relationship wasn't just professional. They traveled together on Plank's private jet, with Ruhle insisting she was there as "Stephanie Ruhle" and not as a Bloomberg reporter or Plank's friend. Their closeness raised eyebrows, especially when court documents revealed that Plank had once sent Ruhle a secret recording of a conversation with another top executive at Under Armour.

Shareholder’s noticed something was up. This saga came to light during a shareholder lawsuit, which accused Under Armour of artificially inflating its share price. The shareholders believed that Plank and others inside the company had prior knowledge of weakening sales and used unorthodox methods to maintain growth. One such method? Enlisting Ruhle's help to counter a damaging research report.

While the courts continue to deliberate on the merits of the lawsuit, one thing is clear: the Plank-Ruhle alliance was a testament to the intricate dance between corporate leaders and the media. Whether it was Ruhle playing basketball with basketball star Stephen Curry or Plank seeking her advice on handling negative press, their relationship was a reminder of the power dynamics at play in the world of business journalism.

As for Plank and Ruhle? They remain silent, letting the court documents speak for themselves. But in the court of public opinion, their story serves as a cautionary tale of what happens when personal and professional lines blur.

Headline Hustle

🧹 Meta’s digital cleanup. Meta Platforms recently flagged and dismantled a massive online influence campaign, touted as the world's largest. This operation, with its roots in China, aimed to boost China's image while throwing shade at the U.S. Despite its vast reach, spanning over 50 apps and thousands of accounts (including a hefty 7,700 on Meta's own Facebook and Instagram), the campaign didn't quite hit its mark. Dubbed "Spamouflage" by tech insiders, this operation has been on the radar since 2019 and is believed to have ties to Chinese law enforcement. While the campaign painted China in glowing colors, it didn't shy away from critiquing the U.S. and its allies. With its base spread across China, Meta's tech defenses caught and shut down many of these accounts, pushing the operators to smaller platforms in hopes of a louder echo.

🏗️ Silicon Valley elite building a new city. Some big names from Silicon Valley are backing a new city project in Northern California. Word on the street (or rather, The Wall Street Journal) is that they've shelled out close to $1 billion in the last five years, making them the top landowner in Solano County, a short drive from San Francisco. Their vision? “We're teaming up for a project that promises great jobs, affordable homes, green energy, and a sustainable, open environment for the folks in Solano County”.

🚗 Tesla’s autopilot feature raises more safety concerns. The National Highway Traffic Safety Administration (NHTSA) is once again knocking on Tesla's door, wanting to chat about Autopilot safety. On July 26, the NHTSA expressed their worries about a Tesla update that lets drivers use Autopilot for longer stretches without nudging them to put their hands back on the wheel. Why the sudden interest? Well, the NHTSA's been digging into Autopilot after several incidents where Tesla cars bumped into parked emergency vehicles. They're also curious about how Tesla ensures drivers stay alert when Autopilot's doing its thing.

TECH

The power duo of AI

Ladies and gentlemen, if you've been keeping an eye on the stock market, you'd know that Nvidia is having a moment. A big one. The chipmaker's shares skyrocketed by 4.2%, closing at an all-time high, and all thanks to a freshly inked partnership with none other than Google. This newly minted collaboration aims to broaden the distribution of Nvidia's cutting-edge artificial intelligence technology.

Nvidia keeps on rising

Now, if you're thinking, "Well, stocks go up and down all the time," let me drop some numbers for you. Nvidia's stock has surged by a whopping 234% in 2023 alone. To put that in perspective, it's leading the S&P 500 pack, with Facebook's parent company, Meta, trailing in second place with a 148% rise. And this isn't a flash in the pan. Just last week, Nvidia reported that its quarterly revenue had doubled from the previous year. The cherry on top? A forecast suggesting a potential 170% annual sales increase.

But what’s fueling this surge? It's Nvidia's graphics processing units (GPUs). These aren't your regular GPUs for gaming; they're the backbone for training and deploying advanced AI models, like the tech that powers OpenAI's ChatGPT. Cloud companies, government bodies, and innovative startups are all clamoring for these GPUs.

This collaboration means Google's cloud clientele will now have enhanced access to Nvidia's formidable H100 GPUs. As Huang aptly put it, this expanded alliance with Google Cloud is set to "supercharge energy efficiency and reduce costs." And if you're wondering about Nvidia's presence on other platforms, yes, their GPUs are also featured on Amazon and Microsoft's cloud platforms.

Looking ahead…if you're wondering where the future of tech is headed, look no further. Nvidia and Google are giving us a glimpse, and it's bright. Very, very bright.

Pulse Points

X will allow political ads. X announced on Tuesday that they're opening the doors to political ads in the U.S. for candidates and parties. And with the 2024 presidential race on the horizon, they're also beefing up their safety and elections squad.

Google announces enterprise AI tools. On Tuesday, Google rolled out a bunch of new AI tech and collaborations, all aimed at getting big businesses even more hooked on artificial intelligence,

Walmart wants to cut pharmacist’s pay. Walmart's making a move. They're nudging some of their 16,000 U.S. pharmacists to consider cutting their work hours, which means a smaller paycheck. All in the name of trimming costs.