Good morning NYC. Key highlights for 2026-08-25:
- California attracted more venture capital funding in 2026 than all other 49 U.S. states combined, driven largely by the AI boom.
- Hugging Face, a major AI developer platform, is exploring a potential $13B sale amid heightened interest in AI infrastructure.
- Bitcoin surged above $80,000 for the first time in three months, fueled by growing concerns over dollar devaluation and inflation hedging.
- U.S. Treasury Secretary Scott Bessent’s plan to buy back bonds faces criticism, with concerns it could distort market fundamentals.
- SpaceX plans to launch its first orbital AI data-center satellites, powered by Nvidia chips, in late 2027, signaling a major expansion in space-based computing.