🤖 AI is creating new billionaires faster than ever

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☀️ On this day: On August 11, 1950, Steve Wozniak, co-founder of Apple Inc., was born in San Jose, California. Wozniak’s engineering brilliance produced the Apple I and Apple II, key machines that helped spark the personal computer revolution.

What’s happening:

• 🤖 AI boom creates billionaires faster than ever

• 🚀 Altman says Gen Z is the ‘luckiest’ with AI

• 💻 Nvidia, AMD to pay 15% tax on China chip sales

• ☹️ CS grads face the worst job market in years

• 🤖 China opens first-ever ‘Robot Mall’ in Beijing

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• + 📈 Trending tools and resources

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Hand-picked news:

🤖 AI boom creates billionaires faster than ever ↗️LINK

• What: Artificial intelligence is creating wealth at record speed. Big funding rounds for companies like Anthropic, OpenAI, and Safe Superintelligence have made dozens of new billionaires. There are now 498 AI unicorns (startups worth over $1B) with a total value of $2.7T, including 100 founded since 2023.

• Why: Rising AI valuations, booming stocks like Nvidia and Microsoft, and huge salaries for AI talent are driving this surge in personal fortunes.

• Impact: This wealth boom is faster than anything in the past 100 years, reshaping who holds the world’s money and creating new opportunities for banks and investors when these companies go public.

🚀 Altman says Gen Z is the ‘luckiest’ with AI ↗️LINK

• What: OpenAI CEO Sam Altman says young people today have more opportunities than any generation before, thanks to AI tools like GPT-5. These tools can help a single person create billion-dollar businesses—something that once needed huge teams. He admits AI could replace up to half of entry-level office jobs within five years.

• Why: Altman thinks Gen Z will adapt faster than older workers and that AI will also create new, exciting, well-paid jobs. He even imagines some college grads heading into space missions in the future.

• Impact: Altman warns AI will make spotting fake media harder and could trigger fraud crises, but says the best way to prepare is to start using AI tools now.

💻 Nvidia, AMD to pay 15% tax on China chip sales ↗️LINK

• What: Nvidia and AMD will give 15% of their AI chip sales revenue in China to the U.S. government in exchange for export licenses. This starts with Nvidia’s H20 AI accelerator. The deal is part of President Trump’s push to get direct financial returns from trade deals.

• Why: While this could make it easier for U.S. companies to keep selling in China, Beijing has already criticized the H20 chip’s quality and security.

• Impact: Experts warn this rare “chip tax” could weaken U.S. arguments for tough export rules and make allies question America’s commitment to national security over profit.

☹️ CS grads face the worst job market in years ↗️LINK

• What: Fresh computer science graduates now face unemployment rates of 6–7.5%, more than double that of biology or art history majors. Some have sent thousands of applications with little success, even getting rejected from fast-food jobs.

• Why: AI coding tools are replacing many junior developer roles, while tech giants like Amazon, Meta, and Microsoft keep cutting staff. This has created an “AI doom loop” where grads use AI to apply, but companies use AI to reject them instantly.

• Impact: The old “learn to code for a high salary” promise is breaking down, forcing grads to get creative like using TikTok to stand out and land rare interviews.

🤖 China opens first-ever ‘Robot Mall’ in Beijing ↗️LINK

• What: China has opened its first shopping mall dedicated entirely to robots in Beijing’s E-Town district, featuring 100+ robots from 40 brands. Prices range from $278 to nearly $100,000, including a talking Einstein robot. The mall also offers robot-run restaurants and entertainment.

• Why: The project aims to make robots more accessible to households, combining sales, service, spare parts, and customer feedback in one location.

• Impact: Launching alongside two major robotics events, the mall highlights China’s $20B+ push to lead global robotics. Plans for a $137B AI and robotics fund could intensify competition with U.S. tech giants.

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Today’s Poll:

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Yesterday’s Poll Result:

Do you think AI training on copyrighted books is more like research or theft?

• A) Research – It transforms and builds on knowledge - 29%

• B) Theft – It uses works without permission - 71% 🏆

Reader’s opinion:

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