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- 🚀 Pentagon to End $5.1 Billion Contract
🚀 Pentagon to End $5.1 Billion Contract
PLUS: $1 Million Dinner, $35 Billion EV Bet
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Pentagon cancels $5.1 billion in IT contracts with firms like Accenture and Deloitte, citing wasteful spending
Nvidia export restrictions to China paused after the CEO attended $1 million Mar-a-Lago dinner
GM commits $35 billion to EV expansion amid political resistance and global competition
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🗞️ News
Pentagon to End $5.1 Billion Contract
The U.S. Defense Department is terminating over $5.1 billion in information technology services contracts with major consulting firms like Accenture, Booz Allen Hamilton, and Deloitte. Defense Secretary Pete Hegseth says these contracts represent wasteful spending on non-essential third-party services that Pentagon employees can perform themselves.
$1 Million Dinner
The Trump administration initially planned to impose new restrictions on Nvidia's advanced H20 AI chip, which is a crucial component for Chinese tech companies. However, after Nvidia CEO Jensen Huang attended a $1 million dinner at Mar-a-Lago, the White House reversed course and put the planned export controls on hold.
$35 Billion EV Bet
General Motors is making a $35 billion bet on electric vehicles, building massive battery factories and overhauling its production to churn out a dozen new EV models. However, GM faces significant headwinds, including tariffs imposed by the Trump administration, the president's skepticism of electric cars, and fierce competition from Tesla and Chinese automakers.
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