Nvidia Corp. sharply increased its spending on the shares of partners and customers in the last fiscal year, using more than $70 billion of its cash as it seeks to retain dominance in the artificial intelligence chip arena.

A federal judge ruled that the IRS violated taxpayer privacy laws for tens of thousands of taxpayers when responding to the Immigration and Customs Enforcement request for data on immigrants.

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

Over the past year or so, Wall Street has gone through waves of AI-related selloffs, sparked by fears about everything from more cost-efficient competition in China to the likelihood of a looming AI bubble. This week’s market dip may have been the first partly caused by a self-published work of fiction.

Larry Summers, the former president of Harvard University and ex-Treasury Secretary, is retiring from his Harvard professorship, following revelations that his ties to late sex offender Jeffrey Epstein were deeper than previously known.

Citigroup Inc. has formed a group focused on the artificial intelligence infrastructure boom comprised of leaders from its investment banking and corporate banking teams.