David Sacks, the venture capitalist advising President Trump on crypto and AI policy, is apparently divesting his holdings in foundational AI companies and hyperscalers like xAI and Meta, according to a White House memo posted online Friday.
The White House previously disclosed that Sacks and his firm, Craft Ventures, divested around $200 million of crypto-related assets.
Why it matters: Sacks entered the Trump administration with a slew of investments that could have created conflicts of interest, or at least perceptions of them, but has taken steps to minimize that risk.
Meta has finalized a deal to pay around $15 billion in cash for a 49% stake in Scale AI, sources told Axios.
Why it matters: The deal will help transform Meta's AI efforts, but also raises big questions for the future of Scale, a company best known for labeling data for all the major AI players, including Google and OpenAI.
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