Lots has happened this past week in the tech world! With experts claiming that President-elect Donald Trump is attacking the CHIPS Act, Coinbase shares are soaring 31%, and more, there’s much to catch up on. So, let’s get started!
Expert Claims President-Elect Donald Trump Will Attack the CHIPS Act
Experts suggest that President-elect Donald Trump is unlikely to reverse the Biden administration’s CHIPS and Science Act, despite his campaign criticisms of the bill. The legislation, aimed at incentivizing chipmakers to establish U.S.-based manufacturing, became a flashpoint during the last month of the election. Trump voiced concerns over the bill’s cost, and House Speaker Mike Johnson initially indicated that Republicans might attempt to repeal it, though he later retracted that statement.
Coinbase Shares Soar 31%
Election Day was a major win for the crypto industry, with Coinbase CEO Brian Armstrong emerging as the biggest beneficiary. Coinbase shares surged 31% on Wednesday—their highest single-day increase on record—as tech investors celebrated the company’s successful support of pro-crypto candidates. Fairshake, a Coinbase-backed PAC, reported that of the 58 candidates it endorsed, 46 won, with results for the remaining 12 races still pending.
Super Micro Shares Decrease by 18%
Super Micro shares plunged 18% on Wednesday, hitting their lowest level since June of last year, after the troubled server manufacturer released disappointing unaudited financial results and failed to outline specific plans to maintain its Nasdaq listing.
The stock fell to $22.70 by early afternoon, down 81% from its peak in March—a decline that has erased about $57 billion in market capitalization.
Italy Extends Domestic Tax on Digital Services
Italy has expanded its domestic digital services tax to include small and medium-sized enterprises (SMEs) in an effort to address U.S. concerns that the tax is discriminatory, Economy Minister Giancarlo Giorgetti announced on Thursday.
Speaking to lawmakers about the 2025 budget, Giorgetti suggested that other European Union countries may adopt similar measures to prevent potential U.S. retaliatory actions. Washington has previously threatened tariffs in response to European digital taxes, which primarily affect U.S.-based tech giants like Meta, Google, and Amazon.
China’s New Rocket Design Mimics SpaceX’s Starship
When Chinese space officials first introduced the design for the Long March 9 super heavy-lift rocket nearly a decade ago, it appeared to be a standard, fully expendable three-stage booster with solid side motors. However, in response to SpaceX’s advances with reusable rockets, China has continuously revised the design. About two years ago, they updated the Long March 9 to feature a reusable first stage.
Now, recent details from a major airshow in Zhuhai reveal another evolution: the latest Long March 9 design closely resembles SpaceX’s Starship rocket, signaling a significant tech shift towards a fully reusable launch system.
