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Tech Across the Globe

TikTok saga: US President Donald Trump delayed for the fourth time a ban on TikTok while the key details of a sale of its US operations to American buyers takes shape. A consortium including Oracle, Silver Lake and Andreessen Horowitz is the leading suitor.

Copyright clash: Disney, Universal and Warner Bros. are suing Chinese artificial intelligence startup MiniMax, accusing the company of stealing their characters and creations, such as Spider-Man and Bugs Bunny, for its Hailuo AI video generator.

New stablecoin: Tether is returning to the US and bidding to become the dominant stablecoin issuer in the country. Its flagship token, USDT, is the largest stablecoin globally with a $171 billion supply, backed in large part by US Treasuries.

Revalued

Figure AI, a startup developing humanoid robots, has raised $1 billion in committed capital in a financing round that values the company at $39 billion. Founded in 2022, Figure AI has emerged as one of the most prominent startups taking advantage of recent advancements in AI technology. Parkway Venture Capital, an existing investor, led the financing. The company was valued at $2.6 billion in a deal last year.

Must Read

The raid by the US Immigration and Customs Enforcement agency on a Hyundai battery plant in Georgia continues to reverberate in South Korea. Many people there feel the relationship of trust between Washington and Seoul has been betrayed by the action, which resulted in the detention of hundreds of workers. Yoolim Lee reports on some of the accounts emerging this week and how the national mood has shifted.

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This Week in Game On

Hollow Knight: Silksong took seven years to make, but joy seeps through every frame, Jason Schreier reports in this week’s Game On. Schreier writes that the long wait was worth it, calling the game “a spectacular accomplishment.”

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