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Tech News
Maria Cabral Menezes, a 27-year-old former JPMorgan and Citadel trader, left finance to launch Reset Spray, a $29 product she describes as 'dry shampoo for clothes' that lets people refresh lightly worn garments between washes. The spray, which debuted in early August, generated $10,000 in sales in under a day and a half.
Crusoe, the AI infrastructure firm behind Oracle's giant Abilene, Texas campus, has closed a $3.9 billion funding round led by Atreides Management, Valor Equity Partners and Mubadala, pushing its valuation to roughly $30.9 billion. The company is using the capital to expand into smaller, factory-built facilities called Spark, designed for AI inference rather than massive training clusters.
Gill Haus, CIO of Chase's consumer banking division, said the bank no longer hires engineers primarily to write code, since AI agents increasingly handle that task. Instead, he looks for engineers who understand what code should be written and how to evaluate and direct AI-generated output, while product leaders are also taking on coding responsibilities.
AI cloud provider Lambda has secured $1 billion in private, short-dated debt arranged by JP Morgan Chase to purchase Nvidia AI chips it plans to lease to Microsoft, according to Bloomberg. This follows a $1 billion secured credit facility Lambda closed in May and a $926 million loan this week for Nvidia GB300 GPUs tied to a separate contract with Nvidia itself.
In Houston, two on-duty police officers jumped into an Uber driver's vehicle mid-shift to pursue a shirtless suspect who had allegedly threatened a woman and her two children. The driver, Anthony Baines, followed the officers' directions and even picked up a second officer before both bailed out to continue the chase on foot. The suspect ultimately got away, and Baines later learned he wasn't legally obligated to assist police in that way.