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From fake social security calls to scammers impersonating Apple or Amazon, anyone with a cellphone or landline is no stranger to robocalls.

For decades, robocall scammers have graced phones and voicemails across the nation. Between June 2020 and 2021 these scams affected more than 59 million people who lost a combined $29.8 billion, according to phone number identification app Trucaller. Some robocallers look to sell legal products like a car warranty or new roof through illegal means, while others will steal your social security number or credit card.

In an effort to curb this longstanding problem, the Federal Communications Commission is requiring voice service providers to implement caller ID authentication standards via a set of industry rules known as STIR/SHAKEN. The FCC required large carriers like AT&T, Verizon and T-Mobile to implement the standards by June 30, though smaller carriers, with under 100,000 customers, have an extension.

Simultaneously, voice service providers must submit a plan highlighting their robocall mitigation efforts in a recently launched database. If the plan isn’t in the database beginning Sept. 28, carriers will have to stop accepting calls from those providers.

STIR/SHAKEN is a good start to ending this ever-evolving issue of robocalls, and, while the updates will slow scammers down, experts say they won’t disappear.

“It’s a game of Whac-A-Mole,” said Paul Schmitt, a research computer scientist at the University of Southern California’s Information Sciences Institute. “Robocallers will find other ways to do what they want to do.”

What is STIR/SHAKEN?

STIR/SHAKEN refers to the set of industry rules requiring voice providers to authenticate that the call people receive is from the number displayed.

Attestation is the framework used for determining the legitimacy of the caller. It acts as a virtual signature indicating how confident a provider is that a caller is allowed to use a specific phone number. It’s broken down into three levels based on how much information the providers know about the caller, with the lowest level meaning the provider can verify where the call came from, but not the caller ID.

STIR/SHAKEN puts pressure on domestic carriers to increase their protected technology, create a database and will likely push illegal domestic robocalls out of the country, said Scott White, director of George Washington University’s cybersecurity program and cyber academy.

While it makes it harder to spoof or use false caller ID information to scam you, it’s not foolproof. The technology verifies that the original number is what shows up for the consumer, but scammers can falsify the number from the get-go. The system does not work on landlines.

When signing a call, some providers use the highest attestation without proper due diligence, said Josh Bercu, vice president of policy and advocacy at USTelecom, a trade group representing telecom companies. If the industry gets evidence of that, the provider could lose their ability to sign or attest.

“The industry hates these calls,” said Bercu. “We want to protect our subscribers, we’re doing everything we can and the impact is starting to really show itself.”

Fighting evolving robocalls

While STIR/SHAKEN can help crack down at home, the FCC has little jurisdiction abroad where many calls originate. The agency can work with international partners to catch scammers, but some countries won’t cooperate. Robocalls reel in billions of dollars in profits every year and many have found ways to use artificial intelligence or data to create targeted lists for scamming.

Some overseas scammers will purchase a block of numbers to make calls and disappear. Domestic scammers may use recent changes as an opportunity to move operations abroad where there’s less oversight, White added. Gateway carriers serve as the main form of entry into the U.S. for foreign calls but many operate outside the U.S.

The biggest issue is that robocalls are evolving faster than legislation can keep up, said White.

Next steps to ending robocalls

Robocalls are decreasing. In August, Americans received roughly 4.1 billion robocalls, down 4.4% from July, which decreased 4.8% from June, according to data from YouMail, a company that creates robocall blocking software.

YouMail is one of several third-party companies like Truecaller, RoboKiller and Hiya that offer spam-blocking software. YouMail’s CEO Alex Quilici, said the company can match audio to find repeat offenders, but only when they leave a voicemail.

Large telecom companies offer customers their own robocall blocking apps, with features like caller ID identification, personal blocklists and a number change. Some of these features cost customers an additional fee depending on their plan and provider.

A Verizon spokesperson said the company recently launched a social media campaign with a tech influencer to help consumers spot robocalls. Efforts to mitigate robocalls have led to 500 million fewer calls per month, they added. An AT&T spokesperson said the company labels 1 billion robocalls a month. T-Mobile verifies more than 300 million calls every weekday, a spokesperson said.

Bercu, the USTelecom VP, is working with both providers and the government on tracing back suspicious calls to shut down scammers. Another step is getting other countries to sign onto STIR/SHAKEN, said Eric Burger, a research professor of computer science at Georgetown University.

Despite concerns about its effectiveness, STIR/SHAKEN is not worthless legislation, said White. The process can help companies and the government do better analytics and gather information to use for the next attack.

“The people complained, and the government responded,” he said. “That’s what you want to see in a democracy.”

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Nvidia sending 18,000 of its top AI chips to Saudi Arabia

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Nvidia sending 18,000 of its top AI chips to Saudi Arabia

Tareq Amin, CEO of Humain, and Jensen Huang, CEO of NVIDIA, attend the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia May 13, 2025.

Hamad I Mohammed | Reuters

Nvidia will sell over 18,000 of its latest artificial intelligence chips to Saudi Arabian company Humain, CEO Jensen Huang announced on Tuesday.

The announcement was made as part of a White House-led trip to the region that includes President Donald Trump and other top CEOs.

The cutting-edge Blackwell chips will be used in a 500 megawatt data center in Saudi Arabia, according to remarks at the Saudi-U.S. Investment Forum in Riyadh on Tuesday. Nvidia said its first deployment will use its GB300 Blackwell chips, which are among Nvidia’s most advanced AI chips at the moment, and which were only officially announced earlier this year.

Tuesday’s announcement underscores the importance of Nvidia’s chips as a bargaining tool for the Trump administration as countries around the world clamor for the devices, which are used to train and deploy advanced AI software such as ChatGPT.

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“I am so delighted to be here to help celebrate the grand opening, the beginning of Humain,” Huang said. “It is an incredible vision, indeed, that Saudi Arabia should build the AI infrastructure of your nation so that you could participate and help shape the future of this incredibly transformative technology.”

Nvidia shares rose 4% in trading on Tuesday.

Last week, the Department of Commerce said that it was going to scrap what it called President Joe Biden’s rule, and implement a “much simpler rule.” Nvidia has also been required to seek an export license for its AI chips since 2023 because of national security concerns. 

Humain will be owned by Saudi Arabia’s Public Investment Fund, and will work on developing AI models as well as building data center infrastructure, according to a press release. Humain’s plans eventually include deploying “several hundred thousand” Nvidia GPUs. 

“Saudi Arabia is rich with energy, transforming the energy through this giant versions of these Nvidia AI supercomputers, which are essentially AI factories,” Huang said.

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Microsoft is cutting 3% of its workforce

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Microsoft is cutting 3% of its workforce

Microsoft CEO Satya Nadella leaves after attending a meeting with Indonesian President Joko Widodo at the Presidential Palace in Jakarta, Indonesia, on April 30, 2024.

Willy Kurniawan | Reuters

Microsoft on Tuesday said that it’s laying off 3% of employees across all levels, teams and geographies.

“We continue to implement organizational changes necessary to best position the company for success in a dynamic marketplace,” a Microsoft spokesperson said in a statement to CNBC.

The company reported better-than-expected results, with $25.8 billion in quarterly net income, and an upbeat forecast in late April.

Microsoft had 228,000 employees worldwide at the end of June, meaning that the move will affect thousands of employees.

It’s likely Microsoft’s largest round of layoffs since the elimination of 10,000 roles in 2023. In January the company announced a small round of layoffs that were performance-based. These new job cuts are not related to performance, the spokesperson said.

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One objective is to reduce layers of management, the spokesperson said.

Last week cybersecurity software provider CrowdStrike announced it would lay off 5% of its workforce.

In January, Microsoft CEO Satya Nadella told analysts that the company would make sales execution changes that led to lower growth than expected in Azure cloud revenue that wasn’t tied to artificial intelligence. Performance in AI cloud growth outdid internal projections.

“How do you really tweak the incentives, go-to-market?” Nadella said. “At a time of platform shifts, you kind of want to make sure you lean into even the new design wins, and you just don’t keep doing the stuff that you did in the previous generation.”

On Monday, Microsoft shares stopped trading at $449.26, the highest price so far this year. They closed at a record $467.56 last July.

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Hinge Health aims to raise up to $437 million in IPO, pricing at $28 to $32 per share

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Hinge Health aims to raise up to 7 million in IPO, pricing at  to  per share

Hinge Health co-founders Gabriel Mecklenburg (left) and Daniel Perez (right).

Courtesy of Hinge Health

Hinge Health said in a filing on Tuesday that it plans to raise up to $437 million in its upcoming initial public offering.

The digital physical therapy startup filed its initial prospectus in March, and it updated the document with an expected pricing range for its Class A common stock of $28 to $32 per share. Hinge said it plans to sell about 13.7 million shares in the offering.

Based on the number of Class A and Class B shares outstanding after the offering, the deal would value the company at $2.42 billion in the middle of the range, though that number could be higher on a fully diluted basis.

Hinge, founded in 2014, uses software to help patients treat acute musculoskeletal injuries, chronic pain and carry out post-surgery rehabilitation remotely. The company was co-founded by CEO Daniel Perez and Executive Chairman Gabriel Mecklenburg, who have both experienced personal struggles with physical rehabilitation.

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Three weeks after Hinge filed its initial prospectus, President Donald Trump announced a sweeping tariff policy that plunged U.S. markets into turmoil. That volatility has caused several companies, including online lender Klarna and ticket marketplace StubHub, to delay their long-awaited IPOs.

Hinge is forging ahead anyway, and a second digital health startup, virtual chronic care company Omada Health, filed to go public on Friday. Both IPOs will be closely watched by the digital health sector, which has been mostly devoid of public offerings since 2021.

During its first quarter, Hinge said that revenue climbed 50% to $123.8 million, up from $82.7 million during the same period last year. Hinge reported $117.3 million in revenue during its fourth quarter, up 44% from the same period in 2023. 

The company plans to trade on the New York Stock Exchange under the ticker symbol “HNGE.”

Hinge has raised more than $1 billion from investors including Tiger Global Management and Coatue Management, and it boasted a $6.2 billion valuation as of October 2021, the last time the company raised outside funding. The biggest institutional shareholders are venture firms Insight Partners and Atomico, which own 19% and 15% of the stock, respectively, according to its prospectus.

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