Anything you say to a chatbot can and will be used against you in a court of law.
In what appears to be the first decision of its kind in the U.S., a federal judge ruled earlier this year that conversations about legal strategy with AI’s large language models are not protected the way talks with a real lawyer would be. The question came up after a former CEO was charged with fraud, and evidence showed he asked Claude to outline a “defense strategy.” He was convicted earlier this month and faces up to 20 years in jail.
Experts say it’s a warning that small businesses (and others) should be cautious about sharing sensitive information with AI.
This is a published version of the Forbes Daily newsletter, you can sign-up to get Forbes Daily in your inbox here. First UpDell shares had their best day ever Friday, adding $35.8 billion to Michael Dell’s net worth and making him the sixth-richest person in the world.A judge temporarily blocked President Donald Trump’s $1.8 billion “anti-weaponization” fund from his IRS settlement, barring the federal government from distributing any money while the lawsuit moves forward.Anthropic’s seven cofounders more than doubled their net worths to $16.6 billion apiece, Forbes estimates, following a massive fundraise that values the AI company at nearly a trillion dollars.Business + Finance
Nvidia on Monday unveiled its first Windows laptops and desktops powered entirely by its own chip, which it touted as being capable of running “personal AI agents.” It’s Nvidia’s first foray into making a fully integrated consumer chip as it looks to take on the likes of Intel, AMD, Apple and Qualcomm, and the company said the computers will be available this fall.
One of the nation’s largest class action claims administrators has agreed not to accept rebates from prepaid card issuers, banks or other vendors amid criticism that claims administrators have secretly profited from class action payouts. Forbes reported on such back-room dealings last year, and multiple lawsuits followed as attorneys increasingly questioned such payments.
Tech + Innovation
Battery company Base Power, led by billionaire Michael Dell’s son Zach Dell, is in discussions to raise around $1 billion at a valuation of $12 billion. The firm makes home batteries that provide backup power for homeowners across the country who are facing more problems with grid reliability. Dell says his ultimate goal is to become the world’s largest energy retailer.
Matthew Harvey Sanders remembers having many questions when he converted to Catholicism, so he launched a chatbot that can answer complex theological questions. But when users started asking highly nuanced moral and personal questions, he started developing a more advanced Catholic AI model, Ephrem, launching in 2027, which Sanders describes as putting a saint in your pocket.
Sports + Entertainment
Gregory Shamus/Getty Images
Taylor Swift and Travis Kelce are rumored to be tying the knot this summer, and given their significant wealth, they will almost certainly have a prenuptial agreement. But even if you’re not a billionaire, prenups are becoming more common, particularly for millennial and Gen Z couples. One family law attorney noted to Forbes that children of divorce also stand out among couples seeking prenup advice.
The New York Knicks are heading to the NBA Finals for the first time since 1999, and it could be a chance for the team’s billionaire owner James Dolan to cash in. The value of the entity through which Dolan owns both the Knicks and the New York Rangers has lagged far behind Forbes’ valuations of the two franchises for years, but an upcoming stock split could help attract investors.
DAILY COVER STORYThe Rise Of The Blue-Chip Tortilla Chip
Through the company they cofounded, Ancient Crunch, Steven Rofrano and Seth Goldstein built Masa into a status symbol for a certain sector of wealthy, wellness-obsessed Americans.
Its boldly colored striped bags are frequently spotted in the kitchens of MAHA influencers and the chips are often touted by Joe Rogan and Tucker Carlson.
Masa can be found in some 2,500 stores across the country—and is launching next month at Target’s California stores and nationwide at Whole Foods in August—and parent company Ancient Crunch is selling 500,000 bags of chips every month at $13 a bag. In just four years, the New Jersey-based business has grown to annual revenue estimated at $50 million as Ancient Crunch tries to build the LVMH of salty snack foods.
Its playbook has worked so well that in 2024 the pair launched a line of seed-oil-free potato chips under the name Vandy Crisps (named for 19th century railroad tycoon Cornelius Vanderbilt, who was famously finicky about his chips) and a similarly healthy popcorn brand under the name Golden Age was announced in February.
“You couldn’t fry a chip in vegetable oil 100 years ago because vegetable oils did not exist,” says Rofrano. “We are not making an alternative chip. We are making the right version of the chip as it’s supposed to be, and the virtue of that method, of course, is that it actually tastes like a chip.”
WHY IT MATTERS “Big food manufacturing is not set up to make food that has the ingredients that modern consumers want,” says Forbes staff writer Chloe Sorvino. “Ancient Crunch is proving that building your own manufacturing can pay off in the long-run.”
MORE How Bush’s Built A Billion-Dollar Family Fortune From America’s Favorite Baked Beans
FACTS + COMMENTS
Universal Music Group rejected the takeover offer from billionaire Bill Ackman’s Pershing Square Capital, arguing that it “undervalues” the music giant. UMG houses major artists like Taylor Swift, Kendrick Lamar and Billie Eilish:
30%: How much UMG’s stock has fallen over the last year
$8.9 billion: Ackman’s net worth as of Friday
‘Compatible with the management’: Cyrille Bolloré of the Bolloré Group, a major shareholder, questioned Ackman’s fit with UMG
STRATEGY + SUCCESS
While her company is a major player in the AI boom, Advanced Micro Devices CEO Lisa Su told MIT graduates in a commencement speech that people will decide what the future looks like. Su has been credited with leading one of the greatest company turnarounds in tech, and while hard work is important, she said it’s critical to take risks and surround yourself with people who support your success.
VIDEOQUIZ
A major social media platform demonetized an account with a noticeably large following as it cracks down on stolen content. Which platform is it?
A. Meta
B. X
C. Instagram
D. Bluesky
Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.