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Gold market cap tops $30 trillion, well above Bitcoin & tech
Gold's market capitalization reached $30 trillion after the metal climbed to a record $4,380 per troy ounce. That figure is an estimate of the total value of all mined gold and is roughly 14 times Bitcoin's roughly $2.1 trillion market cap and about 1.6 times the combined value of Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta and Tesla. 
Microsoft partnered with G42 to open two artificial intelligence centers in Abu Dhabi, following a $1.5 billion investment made earlier this year. One of these centers will specialize in developing standards for the ethical and responsible use of AI technology across industries. 
The U.S. Federal Trade Commission (FTC) is investigating Microsoft for potentially trying to circumvent antitrust regulations in its $650 million acquisition of AI startup Inflection AI. The agency has requested pertinent documents and is conducting a preliminary review. Microsoft–OpenAI deal lifts fundraising cap, sets up IPO path
Microsoft and OpenAI agreed on a restructuring that recasts the company as OpenAI Group PBC under the control of the OpenAI Foundation. The move lifts constraints that had limited outside fundraising and tied OpenAI exclusively to Microsoft for compute. 
Microsoft’s Chief Technology Officer, Kevin Scott, announced that the company will unveil a new AI-based product by the end of the year, though specific details remain under wraps. He expressed confidence that the forthcoming technology will captivate those anticipating major advances in the field. 
Microsoft has disabled the default activation of the Recall feature, which records all user actions as screenshots for AI purposes. The developers plan to enhance encryption and make it more difficult to access the collected information, which is currently protected only by the computer’s password. The SuperAI Event to Kick Off in Singapore
This weekend the AI industry will come together for SuperAI’s debut event in Singapore. Asia’s biggest AI event will take place at Marina Bay Sands on 5-6 June and will welcome guests and leading industry representatives from companies like Microsoft, Google, Amazon, Boston Dynamics, Nvidia, Salesfroce, and more.