Elon is going after OpenAI and Google with new supercomputer and GameStop is making a comeback 📈

HAPPY MEMORIAL DAY SCOOPERS 🇺🇸🇺🇸🇺🇸

Just because it’s a holiday, doesn’t mean the scoops stop. You know what that means, welcome back to Product Scoop. We’re the newsletter delivering news, insights, and analysis into the tech sector.

Without further ado, find your scoops below👇

👨‍💻 Elon to take on OpenAI and Google with new supercomputer

• Elon Musk's AI startup, xAI, is set to take on AI giants OpenAI and Google with plans to build a supercomputer for the next version of its AI chatbot, Grok. Musk aims to have this supercomputer operational by fall 2025 and is considering a partnership with Oracle to make it happen. The new supercomputer, leveraging Nvidia's powerful H100 GPUs, will be at least four times larger than the biggest existing GPU clusters. Read more

🤝 Samsung to invest more money into China

• Chinese Premier Li Qiang met with Samsung Chairman Jay Y. Lee on Sunday, encouraging further investment from the Korean tech giant despite ongoing U.S.-China tensions. The meeting in Seoul preceded a trilateral summit with South Korea, Japan, and China, the first in over four years. Samsung, having invested $24 billion in China over the past six years, faces challenges due to U.S. export controls limiting China's access to advanced chips. Li's meeting emphasized China's commitment to attracting Korean investments and stabilizing industrial supply chains. Read more

📈 GameStop is back and Roaring Kitty is pumped

• GameStop (GME) is making a dramatic comeback, capturing market attention with a bold move that raised nearly $933.4 million by selling 45 million shares. This announcement sent its stock skyrocketing over 12% in after-hours trading, signaling a major revival for the iconic video game retailer. Adding to the excitement, "Roaring Kitty" Keith Gill, the catalyst behind the 2021 meme stock phenomenon, has reemerged on social media. His return has reignited retail investor enthusiasm, driving a new buying frenzy that saw GameStop's shares more than quadruple from late April to mid-May before settling. Read more

💰 Google is investing $350M in Indian company FlipKart

• Alphabet's Google is making a significant move into the Indian e-commerce market by acquiring a $350 million minority stake in Walmart-backed Flipkart, valuing the company at $37 billion, according to a source familiar with the deal. This investment marks Google's entry into the latest funding round for Flipkart, which will be led by Walmart, Flipkart's largest shareholder. Read more