Morning Scan

Regulators are pressing Big Tech from several directions this Thursday: Brussels wants a bigger levy, Florida wants OpenAI's attention, and Common Sense Media has a few words about teenagers and ChatGPT. Chips keep getting geopolitical, crypto keeps getting volatile, and Trump has opinions about diesel dye.

$83 million — Bitcoin long liquidations in 24 hours as the price slid below $84,000. (The Defiant)

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Connected World

Brussels looks to capture Big Tech through tax on large corporations (paywall)

By taxing all large companies instead of naming US digital giants, the Commission hopes to avoid the retaliation a targeted levy would invite. (Financial Times)

Big AI has a problem on the right. It starts in Florida.

When the populist right and AI's critics find common cause, the industry's Washington playbook gets a lot less comfortable. (Vox)

ChatGPT for Teens is an 'unacceptable risk,' says Common Sense Media

Not the review OpenAI was hoping to get framed and hung in the lobby. (The Verge)

Meet the doctor-whisperer helping OpenAI navigate AI's medical minefield

With 300 million people a week asking ChatGPT about their health, somebody had better be checking the answers. (Business Insider)

100 days later: Microsoft still steers Windows and Copilot users to Edge, everywhere the law lets it

Mozilla's follow-up report is a browser maker complaining about a rival, but "everywhere the law lets it" is a pointed qualifier. (Mozilla Blog)

Machines & Minds

Intel will stay on Musk's Terafab chip project, CEO tells Bloomberg

Lip-Bu Tan is keeping a foot in Musk's Texas fab ambitions, which is either smart hedging or a very expensive side project. (The Next Web)

Japan's Rapidus teams up with 17 firms to win customers for 2nm chips

A state-backed newcomer lines up customers first and makes the chips second, a sensible order of operations. (The Next Web)

Porsche, Facing Falling Profits, Plans to Cut 25% of Its Work Force (paywall)

The brand that once printed money for Volkswagen is now learning what China looks like from the other side of the ledger. (NYT)

China's 'Self-Reliance' Drive Is Upending Trade With Europe (paywall)

Beijing's make-it-at-home push is widening the trade imbalance, and Europe's industrial base is feeling it. (NYT)

Connected World

Bitcoin Sinks Below $84,000 in Sudden Sell-Off

Coinbase recorded a low of $83,551, a reminder that sudden moves are routine in this market. (The Defiant)

Robinhood adds $25 million worth of bitcoin to balance sheet as it deepens crypto push (paywall)

Buying the dip as a signaling exercise, with timing that is either brave or merely convenient. (The Block)

Citi shortens its analyst program to two years as Wall Street fights private equity for young talent

Faster promotions are the cheapest way to compete with PE's pay packages, and the tortoise is clearly tired of losing to the hare. (Fortune)

Trump Allows Cheaper, Dyed Diesel to Be Used in Nonfarm Vehicles (paywall)

Waiving the off-road requirement for tax-exempt red diesel is a pump-price play, with enforcement questions to match. (NYT)

Connected World

Xbox has secured GTA 6 streaming rights

Xbox's CEO promises something "no" one has done around GTA VI, a hell of a way to build hype for a game that needs none. (The Verge)