⚖️ Nvidia’s DOJ chat

…and crypto scammers come for the Trumps Ritchie B. Tongo/Shutterstock Let the chips fall where they may   Presented by Hey Snackers, American kitchens are [divided along partisan lines]( too: a YouGov survey said that conservatives prefer to snack on Pillsbury treats while liberals opt for Ben & Jerry’s. Liberals also prefer LaCroix, Subarus, and Instagram, while conservatives go for A&W, Ford, and X. The S&P 500 [continued to slip]( yesterday after news that job openings hit a 3-1/2-year low in July. All eyes are on tomorrow’s August jobs report, the last major piece of labor data ahead of the Fed’s rate-decision meeting this month.   OH-CHIP [Nvidia says it didn’t get a DOJ subpoena, while regulators look into its AI-chip dominance]( Playing DOJ-ball… On Tuesday Bloomberg [reported]( that the US Justice Department had sent subpoenas to Nvidia (and other companies) in an escalation of an antitrust probe into whether the AI chip leader violated competition laws to stay dominant. Yesterday, though, Nvidia said it had not received a subpoena from the DOJ, but that it had been in contact with the agency. Nvidia stock [plunged]( on Tuesday after the initial subpoena report, wiping out nearly $280B in market value — the biggest-ever daily market-cap decline for a US company. - Subpoena or not: Regulators are said to be [looking into]( complaints that Nvidia makes it difficult to switch to competitors and that it punishes customers who don’t use its AI chips exclusively. Chip outta luck?… Nvidia shares haven’t been faring well since the company reported earnings last week. Its quarterly [growth was feverish]( as the AI spree raged, but it wasn’t quite as strong as usual (tough comparisons). Another issue for Nvidia: growing competition. Rivals like AMD, Intel, and even its biggest customers (like Google and Amazon) are cookin’ up their own AI chips. - Lonely at the top: Companies are desperate for alternatives to Nvidia’s pricey processors to help them keep up in the AI race. Still… - Like “Super Mario” in the ’90s, Nvidia’s the biggest game in town. It’s estimated to control between 70 and 95% of the AI-chip market ($30B in sales last quarter alone). THE TAKEAWAY Winners draw attention… and it ain’t always good. Nvidia’s explosive success has attracted investors (the stock has more than 2x’d in the past year). But it’s also started to attract attention from regulators, who are reportedly asking questions about its acquisitions and biz practices. Nvidia joined the exclusive $2T club in March, and now it may be attracting the type of scrutiny that’s been focused on other trillion-dollar techies (like Apple, Microsoft, and Google). [Read this online](   Presented by Hims Weight loss that fits you. Based on you… Weight loss by Hims is designed by medical professionals, and [individually tailored to your body, health history and weight loss goals](. Weight off your mind… Hims’ holistic program combines [movement, nutrition, sleep and personalized medication options](, including oral medication kits and compounded GLP-1 injections. Unlimited online check-ins, no office visits. [Discover Weight Loss by Hims.](1 Presented by Hims Weight loss that fits you. Based on you… Weight loss by Hims is designed by medical professionals, and [individually tailored to your body, health history and weight loss goals](. Weight off your mind… Hims’ holistic program combines [movement, nutrition, sleep and personalized medication options](, including oral medication kits and compounded GLP-1 injections. Unlimited online check-ins, no office visits. [Discover Weight Loss by Hims.](1   DEFRIED [Trump family X accounts reportedly pushed a crypto scam as social hackers strike it big]( Baitin’ the hook… with a DeFi worm. The X accounts of Lara and Tiffany Trump were [reportedly]( hacked this week, posting links to a purported scam site that encouraged folks to connect their crypto wallets and purchase tokens. (FYI: Lara is the cochair of the RNC and Donald Trump’s daughter-in-law; Tiffany is his daughter.) The posts highlighted World Liberty Financial, an apparently real [DeFi]( project that’s been promoted by Trump’s sons and even former Prez Trump himself. - WLF? World Liberty Financial is [said to be]( an ethereum-based lending project that includes a new crypto token, WLFI, that would let users vote on how the project is run. Reelin’ ’em in… Social-savvy crypto scammers have long hacked prominent X (fka Twitter) accounts to ensnare victims. In July, artist Doja Cat said her X account had been [taken over]( to push a fake celeb coin. Even the SEC’s X account was hacked in January, in what may’ve been an attempt to move the price of bitcoin. Crypto-analytics co Chainalysis said hackers bulk-sell stolen social accounts, which are later used to scam folks out of crypto. In the first half of this year, the total value of stolen crypto funds hit $1.5B+ — up 84% on the year. THE TAKEAWAY Playing coy can backfire… The Trump family’s tried to drum up excitement for WLF with breezy social-media teasers. That may’ve left the door open to scammers looking to rip off Trump supporters. It wouldn’t be the first time: in May, the Trump presidential campaign said it’d accept crypto donations, but confusion around the donation process led to scammers stealing from supporters. Still, it goes both ways: Trump’s broad and generic [embrace]( of crypto has gained him support from the industry. [Read this online](   ON SHERWOOD [You can't outrun the law forever]( In Brazil, Elon Musk finally has a case worth fighting — but he has to do it in the courts. [Read more.](   Presented by RAD AI The next AI disrupter is here. The numbers and traction tell the story… [RAD AI]( is the tech startup helping Fortune 1000 brands win, with a proven track record of delivering up to 3.5X branded content ROI. RAD AI’s investor upside: 🤝 Booked revenue up 3X in the last 12 months. 💼 $35M+ raised from 7,800+ investors including execs from Google, Snap, Amazon, and Meta. [Invest before September 11th and get 20% bonus shares!](2 Presented by RAD AI The next AI disrupter is here. The numbers and traction tell the story… [RAD AI]( is the tech startup helping Fortune 1000 brands win, with a proven track record of delivering up to 3.5X branded content ROI. RAD AI’s investor upside: 🤝 Booked revenue up 3X in the last 12 months. 💼 $35M+ raised from 7,800+ investors including execs from Google, Snap, Amazon, and Meta. [Invest before September 11th and get 20% bonus shares!](2   What else we're Snackin' - Bluesky and Threads are [gaining]( users in Brazil after the country blocked X. - Dollar Tree shares [plunged]( 20%+ after the discount chain cut its annual forecast. - Molson Coors is [rolling]( back DEI efforts, joining cos like Home Depot, Ford, and Deere. - Lyft is laying off staff and [shrinking]( its bikes-and-scooters biz to lower costs. - The Nordstrom family [bid $3.8B]( to take their namesake department store private.   Snack Fact of the Day [Phoenix temps have been higher than 100 degrees F for a record 100 days straight](   Thursday - ADP employment data for July - Weekly jobless claims - NFL season kicks off - Earnings expected from Nio, Toro, Lands’ End, Broadcom, DocuSign, and Rent the Runway Authors of this Snacks own bitcoin and ethereum and shares of: Alphabet, Amazon, AMD, Apple, Microsoft, and Nvidia Advertiser's disclosures: 1 Not available in all 50 states. Weight Loss by Hims is a holistic program that includes nutrition support, technological tools, and compounded GLP-1s or medication kits including customized compounded medications prescribed based on what your provider determines is medically appropriate and necessary for you. See website for full details, important safety information, and restrictions, including online provider consultation requirements. 2 A minimum investment of $1000 is required to receive 20% bonus shares. This is a paid advertisement for RAD AI’s Regulation CF offering. Please read the [offering circular]( and related risks at [invest.radintel.ai](. Equity crowdfunding investments in private placements, and start-up investments in particular, are speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment through equity crowdfunding tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns.   [Instagram]( [Twitter]( [Sherwood Logo]( Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... 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