Latest news with #ChamathPalihapitiya
Yahoo
3 days ago
- Business
- Yahoo
Billionaire Chamath Palihapitiya has a blunt warning about quantum computing
Billionaire Chamath Palihapitiya has a blunt warning about quantum computing originally appeared on TheStreet. Billionaire investor Chamath Palihapitiya has warned that Google revealed breaking common encryption might be closer than we thought. 'If this is even remotely true, combined with everything else happening rn, the only safe trade are hard assets and, dare I say, gold,' Chamath posted on X. 'Sheesh.' In a blog post on May 23 titled 'Tracking the Cost of Quantum Factoring,' Google researchers announced they've drastically lowered the bar for what it would take to break RSA encryption, one of the most widely used security systems on the internet. 'Yesterday, we published a preprint demonstrating that 2048-bit RSA encryption could theoretically be broken by a quantum computer with 1 million noisy qubits running for one week,' wrote Craig Gidney and Sophie Schmieg from Google Quantum AI. Just five years ago, that number was 20 million qubits. Before that? A billion. RSA encryption is a form of asymmetric cryptography, which is basically a way to lock and unlock data using two separate keys: a public one and a private one. It's used in everything from HTTPS connections to secure emails, logins, and financial transactions. Google credits a combination of algorithmic improvements and more efficient quantum error correction. 'The reduction in physical qubit count comes from two sources: better algorithms and better error correction... On the algorithmic side, the key change is to compute an approximate modular exponentiation rather than an exact one.' They pointed to work by Chevignard, Fouque, and Schrottenloher from 2024 that enabled '1000x more operations than prior work,' which Google then optimized down to just 2x overhead. 'On the error correction side, the key change is tripling the storage density of idle logical qubits by adding a second layer of error correction,' the post added. This layered correction, plus a new technique called magic state cultivation, means quantum computers may now require far fewer resources to do serious damage. While RSA is not used in Bitcoin, the underlying principles matter. Bitcoin's cryptography, specifically, ECDSA (Elliptic Curve Digital Signature Algorithm)—is also vulnerable to quantum computing, just like RSA. And the threat isn't just theoretical. As Google notes: 'For asymmetric encryption, in particular encryption in transit, the motivation to migrate to PQC is made more urgent due to the fact that an adversary can collect ciphertexts, and later decrypt them once a quantum computer is available, known as a 'store now, decrypt later' attack.' That line is especially chilling for crypto. Anyone who's ever sent Bitcoin using a public key is technically exposed in a future where a powerful enough quantum computer exists. And the only thing standing between that and billions in value being drained is time and preparation. At the time of writing, Bitcoin was trading at $105,574, down 1.8% on the day, mirroring a broader pullback across the crypto market, with most major tokens in the red. Billionaire Chamath Palihapitiya has a blunt warning about quantum computing first appeared on TheStreet on May 30, 2025 This story was originally reported by TheStreet on May 30, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
6 days ago
- Business
- Time of India
Indian American real estate tycoon Anita Verma-Lallian closes $51 million data centre deal in Arizona
Anita Verma-Lallian and Chamath Palihapitiya Arizona Land Consulting (ALC), a data centre investment fund led by Indian American real estate investor Anita Verma-Lallian, has recently closed on a landmark $51 million land deal, strengthening its position as a driving force in Arizona's AI infrastructure race. Well-known Silicon Valley venture capitalist Chamath Palihapitiya also joined the investment group backing the deal, alongside other prominent tech investors. "Partnering with Chamath [Palihapitiya] represents more than just capital. It's an alignment of vision for America's AI future. When you have Bill Gates building his smart city next door and tech titans choosing Arizona over Silicon Valley, it's clear we're witnessing a historic shift. This $51 million acquisition is a declaration that the future of AI infrastructure will be built on Arizona soil,' Verma-Lallian of real estate firm Arizona Land Consulting (ALC) said about the deal. In a press release, ALC, said that this partnership highlights the growing momentum behind Arizona as America's next epicentre for AI and advanced computing. 'Investing in AI infrastructure is not only critical to solving our economic challenges, it is a matter of national security. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Roar into Style! Leopard Print Slim Fitting Dress! Undo Unleash Your Wild Side: Leopard Print Slim Dress! Undo Level Up Your Look: Men Tracksuit with Hoodie! Undo Get the Look: Rhinestone Juicy Sweatsuit - Shop Modefash! Undo Complete Your Look: Women's 3-Piece Sweatsuit - Undo Chic Comfort! Women's 3-Piece Sweatsuit. Undo Shop Exclusive Deals & Save Big! Undo Modefash: Ultimate Comfort - Men's Tracksuit with Hoodie! Undo Sparkle & Shine: Trending Rhinestone Juicy Sweatsuit! Undo Don't Miss Out! Exclusive Deals at Undo This project can accommodate over 1GW and is ideally situated for us to continue to support America's lead in AI. This data centre project is led by a great team - I'm excited to partner with Anita [Verma-Lallian] and do more of this over time.' The Sri Lanka-born, Canadian American investor and CEO of Social Capital, Palihapitiya, said. The transaction is the second for Verma Lallian's strategic vision to meet surging demand for AI-ready real estate, with the newly acquired land positioned among high-profile neighbours, including Bill Gates, a press release from Arizona Land Consulting stated. According to the press release, key factors driving ALC's acquisition include energy innovation including partnerships in waterless cooling technology for data centres and exploring next-gen power sources like fusion and renewables; a pro-growth environment in the state of Arizona; a prime land asset amid the state's tech boom and a disaster-resistant geography that is ideal for mission-critical data centres. "The AI opportunity can only scale if we have the infrastructure to support it. Suitable land for data centre development is in short supply, and this is the most attractive project I've seen. DYA is partnering with ALC on this because there is going to be a massive shortage of compute for years to come,' Ethan Agarwal, managing partner, DYA Capital, said.
Bloomberg
7 days ago
- Business
- Bloomberg
Venture Capitalist Palihapitiya Buys Stake in Arizona Property for Data-Center Bet
Venture capitalist Chamath Palihapitiya is investing in an Arizona land deal, betting that the site could be used for data centers given its potential access to 1,500 megawatts of power. Palihapitiya teamed up with Anita Verma-Lallian, chief executive officer of Arizona Land Consulting, and other investors to purchase 2,100 acres (850 hectares) of land west of Phoenix called Hassayampa Ranch. The site cost $51 million to assemble but has the potential to be worth $25 billion when completed for data centers, according to Verma-Lallian, who is selling stakes in the project.
Daily Mail
25-05-2025
- Business
- Daily Mail
Trump insiders fury over how Big Beautiful Bill will gut the middle class
Trump administration insiders are worried that Republicans are in a no-win situation when it comes to the Big Beautiful Bill. A major donor of President Donald Trump and his crypto czar think Congress is flubbing the president's promised tax and budget overhaul and warn the final version will likely hurt the middle class. The House stayed overnight on Capitol Hill this week to pass the lower chamber's version of the One Big Beautiful Bill Act (OBBBA). The late-night mark-ups over the last few weeks led to some viral moments where multiple members were shown sleeping through sessions. The four panel members of the conservative economic, tech and politics All-In Podcast tore into the bill, claiming that the negotiated version leaves much to be desired. 'Traditional Republicans and traditional Democrats [are] circling the wagon and putting on a platter a set of things that I think will be hurtful to average Americans,' Trump donor and Canadian-American venture capitalist Chamath Palihapitiya said in a Saturday episode of their podcast. He excoriated the BBB by claiming: 'You're going to see energy prices spike, you're gutting the number of electrons that will be available for things like AI. You're going to increase Medicare prices. And the math is wrong.' 'This thing is an albatross,' Palihapitiya insisted. 'And I think, unfortunately for President Trump's agenda and for a MAGA movement, this is the worst of all conditions. The financial markets will punish us.' Trump's Chair of the President's Council of Advisors on Science and Technology David Sacks in the podcast gave more leeway to the bill. The Artificial Intelligence (AI) and crypto currency czar still slammed the House for not getting in the final version a provision that codified the Department of Government Efficiency (DOGE) cuts into law. Republicans have only a three-vote majority in the House, meaning they have very little wiggle room when it comes to getting controversial pieces of Trump's agenda shoved through the lower chamber. Sacks said of the bill: 'Do I wish it cut spending more? Yes.' 'I mean, do I wish that it made all the DOGE cuts permanent through recision? Yeah, absolutely,' he continued. 'I think it's outrageous that there were enough House Republicans who didn't want to back up DOGE that it wasn't enacted.' The House passed in a 215-214 vote is a major milestone for the White House and Republicans in Congress who have spent the entirety of the new administration crafting the measure's specifics. House Speaker Mike Johnson defended the bill on Sunday. He called on Senate Republicans to fall in line and said passing the bill in the upper chamber is a 'critically important thing to do.' 'It does not mean that we're going to spend more money,' he insisted on Fox News Sunday. 'We're extending the debt ceiling to show to creditors, the bond markets, the stock market, that the Congress is serious about this.' 'President Trump is dialed in 100 percent. He is a visionary leader. He does not want to spend more money. And he has the same concern about the national debt that Rand Paul and I do.' But several Republicans in the Senate say they are not happy with the bill as it stands. Sen. Rand Paul (R-Ky.) has been a vocal critic of the bill and said on Fox News Sunday the cuts are 'wimpy and anemic.' 'But I still would support the bill even with wimpy and anemic cuts if they weren't going to explode the debt,' he added. Previously Paul said he was a 'no' on the House bill unless it removes the $4 trillion debt limit hike.
Yahoo
29-03-2025
- Business
- Yahoo
Chamath Palihapitiya Agrees You Should No Longer Learn To Code, Says Parents Should Advise Their Kids To Focus On These Subjects Instead
On Wednesday, Chamath Palihapitiya, a well-known investor and former Facebook executive, shared a bleak outlook for the role of engineers in the near future. What Happened: The venture capitalist stated, 'Unfortunate but accurate in response to a post on X, which stated, 'I No longer think you should learn to code.' The engineer's role will be supervisory, at best, within 18 months. Building tools for them will be roadkill for the model makers product roadmap.'In the same thread, Palihapitiya advised parents to encourage their children to focus on fields like philosophy, psychology, history, physics, and English writing, hinting at the changing landscape of valuable skills due to AI's X user noted that 'coherently explaining' business rules poses the most significant challenge in software design, a point with which Palihapitiya wholeheartedly It Matters: Palihapitiya's comments come amidst a broader discussion on the future of work in an AI-dominated world. His new AI venture has been highlighted as a potential game-changer that could disrupt the software market. Moreover, his prediction aligns with sentiments from other tech leaders, including Mark Zuckerberg of Meta, who recently suggested that AI could soon replace midlevel software engineers. AI prompt engineers, who train chatbots like ChatGPT, are in high demand, with salaries reaching up to $335,000. The role does not require a tech background, but strong logical thinking and basic computer skills are beneficial. As AI adoption accelerates, companies are prioritizing skills over experience in hiring, according to a previous report. Photo by Featureflash Photo Agency on Shutterstock Read Next: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — this is your last chance to become an investor for $0.80 per share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Chamath Palihapitiya Agrees You Should No Longer Learn To Code, Says Parents Should Advise Their Kids To Focus On These Subjects Instead originally appeared on Sign in to access your portfolio
