Keep pulling the thread on Michael Dell.
The Invest America Act, which was signed into law on July 4th, creates privately-owned investment savings accounts for every child at birth, seeded with $1,000 in an S&P 500 fund.
Under the Invest America Act, only children born after January 1, 2025, will automatically receive the $1,000 contribution from the US Treasury.
Meta acquired Scale AI for $15 billion in an acqui-hire transaction and appointed its founder, Alexandr Wang, to help lead Meta's AI efforts.
Meta has hired Nat Friedman and Daniel Gross for its AI division and has been actively recruiting talent from OpenAI, Google, and Apple.
Top AI talent is reportedly receiving annual compensation packages of $75 million to $100 million.
Michael Dell believes the productivity gains from AI will be "far bigger" than those from the personal computer and the internet.
Michael Dell estimates that a 10% AI-driven productivity improvement across the global economy would be worth $10 trillion, justifying an annual investment of $2 to $4 trillion in AI.
Dell's server and networking business grew 58% year-over-year in the last fiscal year.
In the first quarter, Dell Technologies received $12.1 billion in AI server orders, exceeding its total AI server shipments of approximately $10 billion for the entire previous year.
Dell Technologies currently has an AI server backlog of over $14 billion.
Dell Technologies delivered the first NVIDIA GB300 systems to CoreWeave.
The AI moratorium was removed from the recent reconciliation bill, which could result in up to 70 different state-level AI laws in the United States.