
Private Credit Firms From KKR to Blackstone Ready for 401(k) Win
Firms including KKR & Co., Blackstone Inc. and Blue Owl Capital Inc. had already set up partnerships with 401(k) managers. Trade groups and industry executives have also been lobbying officials in Washington and making their case to the public — all part of a long-running effort to expand private credit's reach.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


TechCrunch
a minute ago
- TechCrunch
A backlog at the Commerce Department is reportedly stalling Nvidia's H20 chip licenses
In Brief Earlier in July, U.S. Secretary of Commerce Howard Lutnick gave chipmakers like Nvidia the green light to start selling certain AI chips in China again, but his department is said to be holding things up. According to reporting from Reuters, Nvidia has yet to receive a license to sell its H20 AI chips. The U.S. Department of Commerce is currently sitting on a backlog of licensing applications due to turmoil within the department, in large part because of a loss of staff and a breakdown in communications with the industry, per Reuters. This holdup comes as national security experts are urging the Trump administration to restrict Nvidia from selling its H20 AI chips to China on national security grounds.


Entrepreneur
a minute ago
- Entrepreneur
Here's Why Anthropic Refuses to Offer 9-Figure Pay Like Meta
Anthropic CEO Dario Amodei laid out his rationale on a recent podcast for why he will not play the competing offer game despite Meta CEO Mark Zuckerberg's attempts to poach AI talent. While Meta poaches talent from Apple, OpenAI and Google, AI startup Anthropic is refusing to play the game by matching competing offers. Anthropic CEO Dario Amodei explained his reasoning on an episode of the "Big Technology Podcast," released earlier this week. Amodei said that he recently sent a Slack message to all Anthropic staff informing them that the company was not willing to "compromise our compensation principles" or its "principles of fairness" when individual employees receive outside offers. He said that Meta's efforts to poach staff were a "unifying moment" for the company, citing his decision not to match offers due to potential unfairness for other staff members. Related: AI Is Dramatically Decreasing Entry-Level Hiring at Big Tech Companies, According to a New Analysis Amodei also acknowledged on the podcast that fewer Anthropic employees had been captured by Meta's compensation offers when compared to other companies, though "not for lack of trying." Some Anthropic staff "wouldn't even talk" to Meta CEO Mark Zuckerberg, according to Amodei. Meta is reportedly offering more than $200 million in compensation to one AI researcher on the superintelligence team who worked at Apple. The tech giant did manage to poach Anthropic software engineer Joel Pobar, as of a June 30 memo. "If Mark Zuckerberg throws a dart at a dartboard and it hits your name, that doesn't mean that you should be paid 10 times more than the guy next to you who's just as skilled, just as talented," Amodei said on the podcast. Anthropic CEO Dario Amodei. Photo by Halil Sagirkaya/Anadolu via Getty Images Anthropic's compensation is tied to a level-based system. Amodei explained on the podcast that when Anthropic staff join the company, they are classified into one of many different levels, which corresponds to their compensation. "We don't negotiate that level because we think it's unfair," Amodei said. "We want to have a systematic way." Related: How Much Does It Cost to Develop and Train AI? Here's the Current Price, According to Anthropic's CEO. Amodei said that Anthropic's mission of safely creating reliable, cutting-edge AI systems inspired many employees to stay, and asserted that Zuckerberg was "trying to buy something that can't be bought," which is alignment with a company's mission. Zuckerberg, meanwhile, recently outlined his mission with his superintelligence team, a group working on creating AI that surpasses human intelligence. In a blog post on Meta's website, published on Wednesday, Zuckerberg said that Meta's goal was to bring superintelligence to every individual and allow people to reap the creative, economic and personal benefits of the technology. He contrasted the effort with the intentions of "others in the industry" who want to use AI to automate the workforce first before giving it to individuals. Meta's mission is to empower individuals with AI, Zuckerberg wrote. Related: Reddit Sues $61.5 Billion AI Startup Anthropic for Allegedly Using the Site for Training Data Since its start in 2021, Anthropic has raised close to $20 billion from companies like Google and Amazon. According to a Bloomberg report from earlier this week, the startup is nearing a deal to raise funds at a $170 billion valuation.


Gizmodo
a minute ago
- Gizmodo
Tesla Ordered to Pay More Than $200 Million Over Fatal Autopilot Crash
A jury in Florida found Tesla partially liable for a fatal 2019 crash involving one of the company's vehicles operating in Autopilot mode. The jury awarded a combined $243 million in punitive and compensatory damages to Tesla, according to The New York Times. The incident in question occurred in Key Largo, Florida, in 2019. George McGee was behind the wheel of a Tesla Model S and had the company's Autopilot software activated while traveling down a two-lane road at night. As the car drove through the intersection while McGee was searching for his phone, it crashed into the back of a legally parked black SUV at a speed of more than 50 miles per hour. Naibel Benavides, a 22-year-old college student, and her boyfriend, Dillon Angulo, were standing outside the vehicle at the time of impact. Angulo sustained serious injuries from the crash, and Benavides lost her life as a result of the collision. The Florida jury found that McGee bore 2/3rds of the responsibility for the crash, but Tesla was responsible for 1/3rd of it, as the company's Autopilot software failed to brake while approaching the intersection that it ultimately sped through before initiating the deadly crash. 'Tesla designed Autopilot only for controlled access highways yet deliberately chose not to restrict drivers from using it elsewhere, alongside Elon Musk telling the world Autopilot drove better than humans,' Brett Schreiber, counsel for the plaintiffs, told CNBC. Tesla denounced the ruling and said that it plans to appeal the decision. 'Today's verdict is wrong and only works to set back automotive safety and jeopardize Tesla's and the entire industry's efforts to develop and implement life-saving technology. We plan to appeal given the substantial errors of law and irregularities at trial,' Tesla said in a statement, per The Times. Of the many lawsuits brought against Tesla for failures stemming from its autonomous systems, this was the first to go to a jury trial. Tesla has previously settled out of court to avoid trial—a route the company took earlier this year to avoid proceedings related to another 2019 incident in which a Model 3 allegedly failed to avoid a collision with a tractor-trailer. The ruling, which the judge in the case accepted, comes as Tesla is attempting to ramp up its fully autonomous 'Robotaxi' service, which allows people to request rides from driverless Tesla vehicles. The company's limited launch in Austin, Texas, was plagued by dangerous driving from the Robotaxis. The company started offering the service in San Francisco last month, though the vehicles have a human in the driver's seat.