Billionaire Warren Buffett just poured more than half a billion dollars into three assets.

After dumping huge positions in Apple and Bank of America and hoarding $325 billion in cash, new SEC filings show the Berkshire Hathaway chairman and CEO has bought $405 million of Occidental Petroleum (OXY).

Occidental Petroleum is a global energy company involved in oil and gas exploration and production, with further ventures in chemicals and low-carbon initiatives.

OXY is down 21% since the start of the 2024, dropping from $60.05 to $47.13 at time of publishing.

Meanwhile, Buffett has also purchased $113 million in Sirius XM Holdings (SIRI) and $45 million in VeriSign (VRSN).

Sirius XM offers satellite and streaming radio services across North America, with its stock down 57% since the start of 2024, from $54.90 to $23.08.

VeriSign is a global provider of domain name registry services and internet security solutions, with shares down 1.35% year-to-date, from $201.56 to $198.84.

Buffett completed purchases of the three companies last week and was required to report the buys immediately because Berkshire now owns more than 10% of each company.

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Generated Image: Midjourney

More than 350,000 people watched a video of Apple CEO Tim Cook promoting a cryptocurrency scam, only to realize later that it was a deepfake generated using artificial intelligence.

Sep. 9 was a big day for tech giant Apple, as millions of people across the globe waited for the “Glowtime” event that would introduce the new iPhone. Scammers used this opportunity to run multiple live streams that promoted the typical double-your cryptocurrency scam.

Now deleted, one of the streams garnered over 355,000 people at one point where an AI-altered old Tim Cook interview was used to mislead people to send various cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) to a wallet address controlled by the scammers. 

During the live stream, an AI-generated voice mimicking Cook described the fradulent scheme as an “ideal opportunity for beginners to participate and familiarize themselves with the world of cryptocurrencies.”

Another live stream was broadcast on a YouTube account with the verification checkmark and was named Apple US, to impersonate the tech titan’s official channel. Meanwhile, some other streams were live from accounts that were completely unrelated to anything tech.

All of the videos featured a QR code which when scanned would redirect users to a malicious website designed to trick users. At the time of writing one of the scam websites was still live and the home page featured several wallet addresses for various cryptocurrencies like BTC, ETH, DOGE, and USDT.

To make it more convincing, the website also featured a fake transaction history which was automatically updated to make it look like people were actually transferring their funds.

As several users started reporting the scam live streams, YouTube support acknowledged the incident and urged users to report the videos using YouTube’s reporting tool. The videos have since been removed from the platform.

Scammers continue to misuse YouTube

YouTube has been a hunting ground for deepfake scammers as previously seen on multiple occasions. Tesla and SpaceX CEO Elon Musk was impersonated during the April 8 solar eclipse as fraudsters pushed a similar scam across multiple YouTube channels rebranded to look like SpaceX.

YouTube has yet to comment officially on the platform’s misuse, but the platform faced legal action back in 2020 when Apple co-founder Steve Wozniak, along with 17 other victims, sued YouTube, demanding the removal of scams that impersonated them to promote fake Bitcoin giveaways.

According to a June 2024 report from Bitget, deepfake scams surged 245% this year, and have led to roughly $80 billion in losses. This alarming trend has spurred regulators to act, with a new bill proposing that AI providers, like OpenAI, require users to include origin information in all AI-generated content to enhance transparency and accountability.

AI News: Apple is reportedly in discussions to invest in OpenAI as part of a new fundraising round that would value the AI company at over $100 billion. This move comes as Sam Altman’s firm, OpenAI, pledges to work with the U.S. AI Safety Institute, sparking discussions about potential dominance in the U.S. AI landscape.

AI News: Apple Considers Investment in Sam Altman’s Firm

According to a report by The Wall Street Journal, Apple is in talks to invest in OpenAI, the developer behind ChatGPT. The proposed investment would be part of a larger fundraising effort that could value the ChatGOT developer at over $100 billion. The specific amount Apple might invest remains undisclosed, but this move marks a significant step in Apple’s strategy to integrate AI more deeply into its products and services.

Apple’s potential investment in Sam Altman’s firm is part of a broader strategy to integrate advanced AI technologies into its ecosystem. With the upcoming release of iOS 18, iPadOS 18, and macOS Sequoia, Apple users will gain access to ChatGPT’s capabilities without needing to create an account, enhancing the user experience while maintaining privacy.

This integration, as a result, is expected to make Apple devices more competitive by offering powerful AI tools directly within its software platforms.

OpenAI’s Collaboration with the U.S. AI Safety Institute

In parallel with its potential partnership with Apple, the firm has announced its collaboration with the U.S. AI Safety Institute. This federal body, part of the Commerce Department’s National Institute of Standards and Technology (NIST), aims to assess and mitigate risks associated with AI technologies.

As a result, OpenAI’s agreement to provide early access to its next major generative AI model for safety testing is seen as an effort to address growing concerns about AI safety and regulation.

This AI news comes after criticism of the firms’ perceived shift away from safety-focused research. Earlier this year, the firm disbanded a team dedicated to developing controls to prevent superintelligent AI systems from going rogue.

The move, consequently, led to the resignation of key safety researchers, raising questions about the company’s commitment to responsible AI development. By working with the U.S. AI Safety Institute, the artificial intelligence firm appears to be reaffirming its dedication to AI safety, even as it continues to push the boundaries of AI technology.

we are happy to have reached an agreement with the US AI Safety Institute for pre-release testing of our future models.

for many reasons, we think it’s important that this happens at the national level. US needs to continue to lead!

— Sam Altman (@sama) August 29, 2024

Consequently, the combined developments of Apple’s investment talks and OpenAI’s partnership with the U.S. AI Safety Institute have fueled speculation about the firms potential dominance in the U.S. Artificial intelligence landscape.

With Apple’s backing, Sam Altman’s firm could gain substantial financial and technological resources, further solidifying its position as a leading player in Artificial intelligence. Additionally, the firm’s involvement with the U.S. government’s AI safety initiatives may give it a significant influence over the future direction of AI regulation and development in the United States.

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Kelvin Munene Murithi

Kelvin is a distinguished writer specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive analysis and insightful content, he has an adept command of English and excels at thorough research and timely delivery.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.