March 30, 2025: Another Down Week, Despite Promising Start

After a promising start last week, Dow Jones ended the week down ~1%, S&P 500 fell 1.5%, and Nasdaq composite lost 2.6%. CoreWeave raised US$1.5 billion in its IPO Thursday, a smaller amount than it had expected. OpenAI expects its revenue will triple to US$12.7 billion this year. X and xAI will be merged, in a combination that values xAI at US$80 billion and X at US$33 billion. EToro Group filed for an IPO, showing revenue tripled last year. The IPO of Cerebras Systems, which designs semiconductors for AI, has stalled. BYD’s sales surged 29% last year, topping US$100 billion. Tesla is aiming to produce first “legion” of Optimus robots this 2025. AppLovin shares tumbled as much as 13% Thursday after Muddy Waters issued a short report. Google says tech is ‘5 years out from a real breakout’. Some European companies and government agencies are thinking about dumping cloud services from Amazon, Microsoft, and Google in favor of European providers. Apple will reportedly spend US$1 billion on NVIDIA servers for AI. Robinhood will roll out checking and savings accounts later this year to its paying “Gold” subscribers. In Canadian news pertaining to Sophic Capital clients, Intermap reported strong 2024 results, with revenue rising significantly to US$17.6 million from US$6.2 million in 2023, the Company guided for continued robust growth in 2025, forecasting revenues between US$30–35 million and ~28% adjusted EBITDA margins. Plurilock entered into a strategic partnership with cybersecurity giant Forcepoint. American Aires expanded its market awareness through a featured segment on the reality TV show “Military Makeover with Montel®,”. Boardwalktech partnered with Trillium Digital Services to strengthen its supply chain solutions. In other Canadian news, Descartes Systems made a US$164.4 million acquisition. EMERGE is acquiring golf apparel company Tee 2 Green in a US$2.2 million deal expected to push EMERGE to positive cash flow.

Sophic Client Intermap (IMP-TSX, ITMSF-OTC) announces 2024 results and 2025 guidance.

For the full year ending December 31, 2024 (unaudited): Revenue was US$17.6 million, compared with US$6.2 million in 2023. Acquisition Services revenue of US$10.5 million versus nil in 2023. Value-added Data revenue of US$3.1 million, compared with US$1.9 million in 2023. Software and Solutions revenue of US$4.0 million, compared with US$4.3 million in 2023. 23% adjusted EBITDA margin. Net income of US$2.5 million, compared with net loss of US$3.7 million in 2023. For the fourth quarter ending December 31, 2024 (unaudited): Revenue was US$7.4 million, compared with US$1.2 million in the fourth quarter of 2023. Acquisition Services revenue of US$5.5 million versus nil in the fourth quarter of 2023. Value-added Data revenue of US$1.0 million versus US$0.3 million in the fourth quarter of 2023. Software and Solutions revenue of US$1.0 million, compared with US$0.9 million in the fourth quarter of 2023. 27% adjusted EBITDA margin. Net income of US$1.5 million, compared with a net loss of US$1.0 million in the fourth quarter of 2023. “2024 reflects a significant inflection point for Intermap. We secured major contract wins and reported revenue and EBITDA at the high end of our guidance,” said Patrick A. Blott, Intermap Chairman and CEO. “Our 2025 guidance reinforces our commitment to sustainable growth and market leadership, and the C$12 million equity financing that we closed in February gives us the balance sheet to execute on our existing government contracts and advance new opportunities in our pipeline.” 2025 Guidance: Revenue of US$30 – 35 million. Adjusted EBITDA margin of ~28%. Intermap experienced significant growth in 2024, including increasing its total assets by 2.6x to $12.0 million and expanding its shareholder base in Canada, the United States and internationally through the completion of various private placements and its Listed Issuer Financing offerings. The Company now has more than 2,000 shareholders and a market capitalization greater than U.S. $75 million. Due to this significant increase in assets and its number of shareholders, Intermap will register under and become subject to the reporting requirements of the U.S. Securities Exchange Act of 1934 (as amended, the Exchange Act). Because Intermap qualifies as a foreign private issuer under the Exchange Act, the Company will be subject to a lesser disclosure regime than domestic U.S. companies and will be filing its registration statement on Form 40-F. In the future, investors will be able to access Intermap’s securities filings on both EDGAR and SEDAR+. Intermap’s audited annual financial statements for the year ended December 31, 2024, the annual management discussion and analysis for the corresponding period, related management certifications of annual filings and its annual information form will be filed and available on SEDAR+ www.sedarplus.ca on March 31, 2025. https://t.co/GO14jAGFZy

Sophic Client Plurilock (PLUR-TSXV, PLCKF-OTCQB) and Forcepoint Partner to strengthen cybersecurity solutions and expand market reach.

Plurilock announced a strategic partnership with Forcepoint, a global data security leader, to expand cybersecurity capabilities and enhance service offerings for customers in North America. Through this collaboration, Plurilock and Forcepoint will leverage their respective strengths to provide comprehensive cybersecurity solutions to a broader customer base. Plurilock’s expertise in delivering tailored cybersecurity services, including penetration testing and Zero Trust implementations, complements Forcepoint’s unified data security platform, creating a well-rounded and scalable approach to protecting employees and critical data everywhere. Plurilock leverages Forcepoint’s Data Security Everywhere solutions to support its Critical Services business, helping organizations secure sensitive data and implement robust security frameworks. This deeper collaboration drives additional joint projects and strengthens both companies’ market positions. Plurilock is currently an authorized Forcepoint partner and is actively working towards an elevated partnership level to expand its capabilities. Forcepoint is consistently ranked among the top data security platforms globally and serves over 12,000 enterprise and government organizations across more than 150 countries. The company’s Data Security Everywhere platform integrates AI Mesh, a network of small language models, to continuously discover data, prioritize risk and adapt controls in real time. The partnership will enable Plurilock to enhance service to existing customers-including large commercial enterprises and public sector clients-while extending Forcepoint’s reach into new high-growth markets. Through this partnership, Plurilock has joined Forcepoint’s tiered Partner Program, gaining access to tailored benefits based on performance and engagement.. https://t.co/bSGnn5erqr

Sophic Client American Aires (WIFI-CSE, AAIRF-OTCQB) segment on leading branded reality TV show “Military Makeover with Montel(R)” goes live.

American Aires Inc announces the Company’s segment on Military Makeover with Montel® originally aired on Friday March 21st and will re-air on Thursday March 27th. Military Makeover with Montel®, which won ‘Outstanding Reality Show’ at the 2024 CBS Family Film and TV Awards, has broad mass media reach, airing on Lifetime, with potential household reach of 63 million, and American Forces Network, reaching military communities worldwide. The segment, which includes the Aires team incorporating Aires EMF radiation protection products into the home of the episode’s featured family, can be viewed on Aires’ YouTube channel at https://youtu.be/S8pdIUFB6Ek or at https://militarymakeover.tv/. In addition to the broad mass media reach from airing on Lifetime and American Forces Network, the episode featuring Aires will also stream on www.militarymakeover.tv, be uploaded to the show’s YouTube channel and promoted on their Facebook, Twitter and Instagram channels, and be available on the Military Makeover website on a dedicated landing page with the Aires video segment and links directly to the Aires website. The Military Makeover episode is the latest example of Aires’ strategic effort to raise market awareness beyond the Company’s sports-related partnerships. Those efforts include aligning the brand with exposure opportunities that involve connecting with and positively influencing the lives of everyday people that represent the larger mass market of consumers. The collaboration also marks the latest adoption of the Aires Certified SpacesTM (ACS) standard; ACS is a set of protocols for implementing EMF modulation solutions to create authorized EMF-friendly spaces that support well-being in a tech-driven world, like the recently announced Aires certified Target Center, home of the NBA’s Minnesota Timberwolves. Companies and organizations can learn more or apply at AiresCertifiedSpaces.com. https://t.co/gF6uLt5khR

Sophic Client Boardwalktech, Inc. (BWLK-TSXV, BWLKF-OTCQB) and Trillium announce partnership for supply chain solutions.

Boardwalktech announced a partnership with Trillium Digital Services to further advance the Boardwalk Platform and Trillium’s solutions with a focus on supply chain solutions. The companies detailed their collaboration at last week’s ISG Xperience Summit in New York, a two-day event for industry leaders to explore AI-powered experience transformation strategies. Andrew T. Duncan, Chief Executive Officer of Boardwalktech, emphasized the mutual benefits of the partnership: “Working with Trillium Digital Services has been instrumental in accelerating our market penetration across diverse industries. Their domain expertise has helped us refine Unity Central through an increased voice of customer interactions and real-world applications. This collaboration has allowed us to adapt our platform to address specific industry challenges while maintaining the core capabilities that make our digital ledger technology unique.” Boardwalktech’s digital ledger platform has found traction among Fortune 500 companies, across food manufacturing, technology, telecommunications, and consumer product sectors as these enterprises utilize Boardwalktech’s solutions. Boardwalktech’s unique method of managing vast amounts of structured and unstructured data enables multiple parties to effectively work on the same data simultaneously while preserving fidelity and provenance. https://t.co/soeG1a3iZe

Descartes (DSG-TSX, DSGX-NYSE) nabs another American company with $164.4 million acquisition of 3Gtms.

Descartes Systems Group has acquired Columbus, Ohio-based 3Gtms, which operates as 3G, a fellow transportation management platform, for US$115 million ($164.4 million) in cash. According to Descartes, 3G’s shipping partners, third-party logistics providers, and freight brokers use its platform to optimize domestic shipments by road, using its software tools for planning, rating, consolidation, and routing that cover the entire shipment lifecycle. Descartes chief commercial officer Andrew Roszko said that 3G’s solution brings strong domestic transportation management functionality for different sized delivery modes, like truckload, less-than-truckload (LTL), and parcel. Descartes acquired two other American companies in the latter half of 2024. Roszko added that the acquisition expands Descartes’s reach in North America, and adds a network of API-integrated LTL carriers. LTL, as the name implies, refers to smaller-volume shipping that allows for multiple shippers to share space on a single truck. https://tinyurl.com/35tmz7hd

EMERGE (ECOM-TSXV) signs definitive agreement to acquire Tee 2 Green, a profitable golf apparel and equipment business.

In the Company’s first acquisition since 2021, EMERGE signed a Definitive Agreement to Acquire Tee 2 Green, a Profitable Golf Apparel and Equipment Business. The acquisition is expected to bring EMERGE to cash flow positive. Tee 2 Green Ltd. (“T2G”) generated revenue of $6.4 million and net income of $700K in 2024 (unaudited). The purchase price was $2.2 million, including $1.1 million cash on closing, $900K deferred consideration over a 5-year payment plan, and $200K in EMERGE shares issued at $0.065/ share or higher (subject to a 180-day escrow). As part of the deal, EMERGE is also acquiring a minimum of $2.3 million inventory on closing under an 8-year payment plan, providing a sizable cash flow advantage in 2025. https://tinyurl.com/mtvhp575

Scope Technologies (SCPE-CSE) announces $1.5 million Private Placement financing and acceleration of QSE Mobile App development.

Scope Technologies Corp. announces a non-brokered private placement financing of 3,000,000 common shares (the “Shares”) at a price of $0.50 per Share for gross proceeds of $1,500,000 (the “Offering”). The Shares issued under the Offering will be subject to a four-month hold period. The Company does not intend to pay any finder’s fees under the Offering. Proceeds of the Offering will be used to repay a $1 million loan previously received from First Majestic Silver Corp., with the remaining funds dedicated to accelerating the development of Scope’s QSE mobile application. The app will serve as a secure communication and file sharing platform powered by QSE’s proprietary Entropy-as-a-Service technology. It enables true round-trip encryption that is fully quantum-resistant—designed to protect data not only today but well into the post-quantum future. Fully integrated with the QSE core system, the mobile app will round out the Company’s full-stack security offerings, providing users with a seamless way to send messages and share sensitive files through a secure, decentralized infrastructure. With this app, Scope aims to make enterprise-grade quantum resilience accessible to businesses and individual users alike. https://tinyurl.com/ymeut9rh

Blue Ant Media announces go public transaction by way of Reverse Takeover of Boat Rocker Media.

Blue Ant Media Inc., a privately owned company announced today that it has entered into a definitive agreement pursuant to which Blue Ant will go-public via a reverse take-over (the “RTO” or the “Transaction”) of Boat Rocker Media Inc. (“BRMI”) (TSX: BRMI). Blue Ant is a global media company with interconnected operations spanning content creation and acquisition, rights management, international distribution, streaming, broadcasting, consumer shows, and connected TV ad sales. Headquartered in Toronto, with a presence in Los Angeles, New York, Washington, London, Sydney, and Singapore, Blue Ant generated $196 million in revenues in its most recent fiscal year ending August 31, 2024, a 16% increase year-over-year, and generated $18 million in net income. https://tinyurl.com/yuk4uypr

CoreWeave raises US$1.5 billion in IPO.

AI cloud provider CoreWeave said it raised US$1.5 billion in its IPO Thursday, a smaller amount than it had expected after investor enthusiasm for the offering waned. The deal, at US$40 a share, would value the company at US$23.3 billion, on a fully diluted basis. The company had been hoping to raise as much as much as US$2.6 billion at a US$32 billion valuation earlier this week. The deal is still the largest tech IPO by size since SoftBank-backed chip designer Arm went public in September 2023. But the smaller size likely means CoreWeave will have to raise more additional debt than expected. https://tinyurl.com/3fchpj5b

OpenAI expects revenue will triple to US$12.7 billion this year.

OpenAI expects to more than triple its revenue this year to US$12.7 billion, fueled by the strength of its paid artificial intelligence software, according to a person familiar with the matter. The San Francisco-based company generated US$3.7 billion in annual revenue last year, said the person, who spoke on condition of anonymity to discuss internal communications. OpenAI expects revenue will continue growing at a fast clip, more than doubling next year to US$29.4 billion, the person said. The New York Times reported in September that OpenAI was eyeing revenue of US$11.6 billion for 2025. In the two-plus years since OpenAI introduced its ChatGPT chatbot, the company has rolled out a range of subscription offerings for consumers and businesses. In September, OpenAI said it hit 1 million paid users for the corporate versions of ChatGPT. More recently, the company added a US$200 monthly ChatGPT Pro option, with access to its most advanced AI models. OpenAI is also mulling charging thousands of dollars a month for certain AI products. While revenue is soaring, OpenAI is also confronting significant costs from the chips, data centers and talent needed to develop cutting-edge AI systems. OpenAI does not expect to be cash-flow positive until 2029, the person said, a year when it projects revenue will top US$125 billion. OpenAI is in talks to raise as much as US$40 billion in a funding round led by SoftBank Group Corp. at a valuation of up to US$300 billion, Bloomberg News reported in January. The company has also been in talks with regulators to restructure from a nonprofit into a more conventional for-profit public benefit corporation. https://tinyurl.com/2aac4xtp

Magnetar Capital in talks for OpenAI’s US$40 billion financing.

OpenAI is close to raising its US$40 billion financing. In addition to SoftBank’s previously reported investment, investors including Magnetar Capital, Coatue Management, Founders Fund and Altimeter Capital Management are in talks to participate in the deal, according to Bloomberg. Magnetar Capital could contribute up to US$1 billion for the round, according to the same report. Magnetar Capital has previously backed model developer Cohere and is one of the largest backers of CoreWeave. If the firm does invest in OpenAI, it would be its first investment in the ChatGPT-maker, according to someone familiar with the matter. The deal will close in two chunks, a US$10 billion tranche and a US$30 billion tranche later this year, both of which will be led by SoftBank and the rest of the amount will be syndicated out, according to the same person. The financing will value OpenAI at US$300 billion including the investment. https://tinyurl.com/2xdjkmza

Musk merges X and xAI.

Elon Musk combined his xAI startup with his X social media service, he revealed in a post on X, stating that the combination valued xAI at US$80 billion and X at US$33 billion, excluding X’s debt of US$12 billion. The announcement came as a surprise, although Musk had already connected the two companies by giving X a stake in xAI. The AI startup, founded two years ago, had trained its Grok AI chatbot on data from X, which Grok acknowledges on its web site. In his X post today, Musk said that the futures of the two companies were “intertwined.” The merger will “combine the data, models, compute, distribution and talent” of the two companies. The combined enterprise will “deliver smarter, more meaningful experiences to billions of people.” The merger will also reduce pressure on Musk to turn around X, whose revenue has fallen by nearly half since he bought it (then named Twitter) in late 2022. https://tinyurl.com/wu5p5mca

EToro Group files for IPO showing revenue tripled last year.

EToro Group Ltd. filed for an initial public offering, disclosing revenue and net income that soared last year. The trading and investment platform had US$12.6 billion in total revenue in 2024, with net income of US$192 million, according to a filing Monday with the US Securities and Exchange Commission. That’s an increase from revenue of US$3.89 billion and US$15.3 million of net income during the prior year. The proposed size and price range for the share sale will be disclosed in a later filing, when EToro is ready to begin marketing the offering. EToro’s filing follows moves to go public by several other high-profile firms, with investors eyeing a rebound in the IPO market this year. About 96% of EToro’s revenue was from cryptoassets last year. Digital assets rallied in 2024 as President Donald Trump, who had struck a pro-crypto stance, returned to power. EToro’s platform allows users to trade and follow top investors in assets including stocks and crypto. Founded in 2007, the Israel-based company previously tried to go public through a merger, at a US$10.4 billion valuation, with a special purpose acquisition company. The parties agreed to terminate that deal in 2022. The IPO is being led by Goldman Sachs Group Inc., Jefferies Financial Group Inc., UBS Group AG and Citigroup Inc. EToro and some of its shareholders are set to sell shares. EToro is seeking a Nasdaq listing under the ticker ETOR. https://tinyurl.com/3twtzm9d

Cerebras IPO delayed again.

The initial public listing of Cerebras Systems, which designs semiconductors for artificial intelligence, has stalled pending review by the Committee on Foreign Investment in the U.S., Reuters reported Tuesday. The multi-agency committee, which assesses the national security concerns of foreign investments in U.S. businesses, has delayed the IPO over concerns about the company’s Abu Dhabi-based investor G42, Reuters said. Cerebras executives are also waiting for the White House to appoint the assistant secretary who will oversee the committee and fill other positions. Cerebras’ IPO first faced delays in October, after the U.S. government began to review G42’s involvement. G42, which accounted for 87% of the chipmaker’s revenue in the first half of 2024, has previously severed ties with Chinese tech giant Huawei to preserve deals with U.S. tech companies. The IPO has also been complicated by the CEO’s 2007 felony conviction for accounting fraud. https://tinyurl.com/3w7cdabc

Klarna IPO filing spurs hope of British fintech listings.

Klarna’s upcoming U.S. initial public offering could help unlock a pipeline of British fintech flotations after a barren period for new technology listings, investors, lawyers and an executive told Reuters. Stockholm-headquartered Klarna, best known for its buy-now pay-later products, publicly filed to float on the New York Stock Exchange earlier this month in its second attempt at listing on the public markets in four years. It had looked to IPO in 2021, after shooting from a valuation of US$5.5 billion to US$45.6 billion in three funding rounds. But investors soured on tech companies as interest rates rose and economies stuttered, and the company was forced to cut its valuation to US$6.7 billion in a 2022 fundraising. Now it is back, and could be worth at least US$15 billion in an IPO likely to be priced in the first half of April, one person with knowledge of the plans said. At the peak of a post-pandemic fundraising boom in 2021, 101 fintech companies raised US$296.86 billion via IPOs on global stock markets, according to data from PitchBook, compiled for Reuters. But between 2022 and 2024, just 86 firms raised US$32.76 billion via IPOs. https://tinyurl.com/6teewtcj

Tesla’s China rival BYD’s sales surged 29% last year, topping US$100 billion.

BYD capped off a strong 2024 with positive results as Tesla’s main rival in China sets up for another big year. BYD’s full year jumped 29% to 777 billion yuan (US$107 billion) vs. 776 billion yuan estimated, crossing US$100 billion in sales for the first time. Net income rose 34% to 40.3 billion yuan (US$5.56 billion), topping the 39.5 billion yuan (US$5.5 billion) estimated, per Bloomberg consensus. BYD stock trading in Hong Kong closed up 3% on Monday, with shares up a whopping 50% year to date. BYD’s success in 2024 comes as Tesla, the EV leader, saw sales drop for the first time. BYD’s total deliveries hit 4.27 million compared to Tesla’s 1.79 million, though this is a mix of hybrid and battery electric vehicles (BEV). BYD sold 1.76 million BEVs globally last year. https://tinyurl.com/2hm4szkb

AppLovin shares sink after Muddy Waters issues short report.

AppLovin Corp. shares quickly tumbled as much as 13% Thursday after Muddy Waters issued a short report against the company. It’s at least the third report from a short seller in about a month. In February, Fuzzy Panda and Culper Research both published short reports against the company, which provides marketing services to app developers, sending shares lower. Those reports came just days after The Bear Cave issued its own cautious piece against AppLovin shares. AppLovin was one of the top performing technology stocks in 2024, gaining more than 700% in a meteoric rise driven by the artificial intelligence frenzy. So far this year, the stock is down about 11%. https://tinyurl.com/4xccfpvb

Apple watch may get cameras in AI push.

Apple is experimenting with adding cameras and some AI features to the Apple Watch, a signal the company is accelerating its efforts to stay competitive in the shift toward artificial intelligence. The cameras would allow the watch to see the world around it and deliver information about the surroundings to its owner. The company hopes to do something similar with its AirPods, part of a broader roll out of what Apple calls Visual Intelligence—a melding of cameras and AI into hardware like the AirPods and Apple Watches. While AI has proliferated across software and applications, companies have struggled to develop popular AI-focused hardware, and a month ago, Humane, the once-buzzy startup behind such a device, said it was selling itself to HP for US$116 million, a fraction of the valuation it had previously fetched. https://tinyurl.com/3mz8jfat

Tesla aiming to produce first “legion” of Optimus robots this 2025.

Tesla’s Q1 2025 All-Hands meeting saw CEO Elon Musk share a key update about the company’s most ambitious product yet — Optimus. As per Musk, Tesla is aiming to start the production of Optimus this year, and its first run will be no joke. Tesla initially announced Optimus during its AI Day event in 2021. At the time, Tesla only had a mockup of the robot and a literal person in a suit to demonstrate what Optimus could look like. By 2022, Tesla had a working prototype of the robot. Optimus’ progress has been rapid since then, with several dozens of the humanoid robots interacting with attendees at the Cybercab’s unveiling last October. During the recent All-Hands meeting, Elon Musk reiterated the idea that Optimus could very well be the biggest product of all time, likely being ten times larger than the next-biggest product. Musk also shared an update about Optimus’ production, stating that the first humanoid robot has been manufactured at the Fremont Factory. When discussing Optimus’ ramp, Musk clarified that Tesla is internally aiming for enough parts to produce 10,000 to 12,000 Optimus robots this year. However, since Optimus is a completely different product, even half of 10,000 units would be a huge victory for Tesla. Tesla also plans to ramp Optimus to a notable degree in 2026, with the company aiming for 50,000 units, or 10 “legions” of humanoid robots, next year. https://tinyurl.com/mr35nwvn

Google quantum exec says tech is ‘5 years out from a real breakout’.

One of Google’s top executives working on quantum computers said he believe the tech is only five years away from running practical applications that can’t be calculated on modern computers. “We think we’re about five years out from a real breakout, kind of practical application that you can only solve on a quantum computer,” said Julian Kelly, Google Quantum AI’s director of hardware. Quantum tech has enjoyed increased attention after Google announced a breakthrough in error correction in December that the company said suggested a path to working quantum computers. https://tinyurl.com/y4p3wa9a

European firms mulling alternatives to U.S. cloud providers.

Some European companies and government agencies are thinking about dumping cloud services from Amazon, Microsoft, and Google in favor of European providers, due to concerns that their customers’ privacy and data security could be at risk under the Trump administration, Wired reported. The report demonstrates how cloud spending can be a tool for gaining leverage in conflicts. Walmart, as part of its battle with Amazon, in 2017 reportedly pressured some of its technology suppliers to move their business off of AWS because it didn’t want to enrich Amazon. But that didn’t have much impact on AWS’ business. Losing business to European providers would be a blow for AWS, Microsoft, and Google, all of which have invested heavily in building data centers in Europe. But moving data and applications between cloud providers is a complex and time-consuming process, which suggests it would be a while before U.S. cloud providers felt any financial impact. https://tinyurl.com/9f6z9z27

Judge allows copyright lawsuit against OpenAI to proceed.

A federal judge in New York on Wednesday allowed a copyright lawsuit by New York Times against OpenAI to move forward, a victory for the publisher in a case with major implications for how tech companies develop artificial intelligence models. The Times alleged in a lawsuit filed in December 2023 that OpenAI used the newspaper’s content without permission or compensation to build AI models that power ChatGPT. In its filing and in court hearings, the publisher cited instances where OpenAI’s chatbot replicated sentences that appeared to be lifted directly from newspaper articles. OpenAI had asked the court to dismiss several claims in the lawsuit. The judge, Sidney Stein, granted OpenAI’s requests in part but allowed the New York Times’ main copyright infringement claims to proceed. OpenAI has said its practices, which include training its models on information accessible on the internet, are legal. The case can now proceed to trial, although the court hasn’t set a start date. https://tinyurl.com/h7r4d3dx

Trump open to tariff concessions for China in exchange for TikTok deal.

President Donald Trump said he would be open to lowering tariffs on China to win the Chinese government’s support for a sale of TikTok’s U.S. operations, Bloomberg reported. Trump’s comments confirming longstanding speculation about his willingness to bargain on tariffs in exchange for a concession on TikTok. Trump’s comment is an extraordinary admission, however, given that his liking for tariffs is one of his biggest policy points. But Trump has said several times that TikTok helped him win election last year, and he would like to help the app survive. Bloomberg quoted Trump predicting he could secure a deal for TikTok by next week but if not, he would give TikTok more time. Under a law passed last year, TikTok has to sever its ties with its Chinese parent ByteDance or face a ban. Trump gave TikTok until April 5 to meet the law’s requirements but he said today he would extend the deadline again if necessary. https://tinyurl.com/2h39r3ey

Robinhood, moving beyond meme stocks, now wants to be your bank.

Robinhood Markets Inc. has moved past its meme stock days to become known as the go-to trading platform for retail investors of all stripes – crypto zealots, novice financiers and sophisticated speculators alike. Now it’s taking it a step further: It also wants to be your bank. Robinhood will roll out checking and savings accounts later this year to its paying “Gold” subscribers, but with a few twists. The Menlo Park, California-based firm aims to be less of a traditional bank for its customers and more of a private banking-like experience, according to Deepak Rao, vice president and general manager of Robinhood Money. While Robinhood is introducing bank-like services, it’s not an FDIC-insured bank itself. Instead, it will work with a partner institution to offer Federal Deposit Insurance Corp. protection on consumers’ money. The company said on its website that banking services will be provided by Coastal Community Bank. The annual percentage yield on the high-yield savings account will likely hover around 4% when the product rolls out, customers will have access to estate planning and tax advice and clients will be able to request cash to be delivered to their doorstep that day via the app, according to a Wednesday statement. The core banking services are another step in Robinhood’s ambitions to become a one-stop-shop for consumers’ financial needs, bringing investing, banking, retirement and other products all under the single brand. Chief Executive Officer Vlad Tenev outlined this goal at the firm’s December investor day, and since then, the company has also rolled out sports-event contracts. More in Robinhood’s traditional investing lane, the company is also unveiling a tailored wealth-management service, capping fees for its Gold subscribers at US$250 a year. The offering will give consumers access to both single stocks and exchange-traded funds and minimize taxable gains, with Gold customers able to access it now and all customers able to access it next month. All clients will pay a 0.25% management fee, according to the statement. https://tinyurl.com/3ryxwymd

Apple is about to spend US$1 billion on NVIDIA servers for AI.

Amid recent reports of Apple struggling in its AI efforts, particularly with Siri, a new analyst report indicates the company is close to laying down a full US$1 billion in new purchases of NVIDIA’s AI servers. Apple reportedly ordering hundreds of pricey NVIDIA AI servers. Loop Capital analyst Ananda Baruah late Monday said Apple is in the process of placing orders for about US$1 billion in Nvidia GB300 NVL72 systems. That equates to about 250 servers at US$3.7 million to US$4 million each, he said in a client note. Apple is working with server builders Dell Technologies and Super Micro Computer on its large server cluster to support generative AI applications, Baruah said. “AAPL is officially in the large server cluster Gen AI game … and SMCI & DELL are the key server partners,” he said. “While we are still gathering fuller context, this appears to have the potential to be a Gen AI LLM (large language model) cluster.” There seems to be a lot of speculation in the report regarding the intended uses of the new servers, but this kind of investment in NVIDIA’s GB300 NVL72s does point in a clear direction. Reports have indicated in the past that Apple is developing its own chip intended for server use. However, it seems progress on that front is either moving slower than expected, or else Apple has decided it needs to supplement with NVIDIA’s servers. In any case, this is further evidence of Apple’s efforts to be well equipped for years of AI investment to come. What do you make of Apple potentially investing so much in NVIDIA AI servers? Let us know in the comments. https://tinyurl.com/5a79tcz9

Sophic Client American Aires (WIFI-CSE, AAIRF-OTCQB) – Why did Aires create the Aires Certified Spaces standard?

Check out this video to hear more from CEO Josh Bruni about the 2 main reasons Aires created the Aires Certified Spaces (ACS) standard: (1) to open up a whole new market and meet the existing demand and (2) to demonstrate how our proven EMF protection technology is being used in large venues and businesses to create authorized EMF friendly spaces. We created Aires Certified Spaces(TM) to support our expanding brand awareness and growing sales through mass market exposure across multiple B2B markets, including: -Stadiums & Arenas -Healtcare & Wellness Spaces -Fitness Facilities & Gyms -Hotels & Resorts -Educational Institutions & Libraries -Airbnbs & Vacation Rentals -Corporate Offices & Coworking Spaces -Restaurants, Coffee Shops & Community Hub “Aires Certified Spaces is opening up a new market, also allowing us to show up in places where the consumer is already visiting and to get that additional touch point with the consumer.” — Aires CEO, Josh Bruni https://tinyurl.com/4k7k72f5

Sophic Client Plurilock (PLUR-TSXV, PLCKF-OTCQB) Code and Country Podcast Episode 8 – Neil Bisson – Former CSIS and CBSA Intelligence Expert.

In this episode of Code and Country, former CSIS and CBSA intelligence expert Neil Bisson explores the rising threats facing Canada and its allies. Cyber attacks, geopolitical tension, and cross-border crime are converging to reshape Canada’s security landscape. Cyber and physical threats are no longer separate. Nation-state actors and cybercriminals are launching digital attacks that disrupt infrastructure, communications, and even elections. Intelligence sharing is also shifting as the United States adjusts its global strategy. Canada and its Five Eyes partners are being forced to rethink how they collaborate and respond. At the border, Canada is dealing with a surge in illegal firearms entering from the south, while fentanyl remains a major concern. Economic pressure, disinformation, and trade tactics are quietly influencing Canadian sovereignty in ways many have not yet recognized. AI-generated propaganda and deepfakes are already working to manipulate public opinion. This is a critical moment for Canada. Tune in to hear Neil Bisson’s expert perspective on what comes next. https://tinyurl.com/69mvakdd