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As of early October 2025, the US Department of Energy has acquired a 5% equity stake in Lithium Americas and its Thacker Pass lithium mining project, a joint venture with General Motors. This move aims to reduce US reliance on China for lithium, a critical mineral for electric vehicle batteries. The project is expected to produce enough lithium carbonate annually to power 800,000 EVs, with commercial operations targeted for 2026-2028.
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As of October 2025, OpenAI's valuation surged to $500 billion following a $6.6 billion secondary share sale by current and former employees to investors including SoftBank, Thrive Capital, and MGX. Despite not yet turning a profit, OpenAI has secured massive AI infrastructure deals with Oracle, Nvidia, and AMD, fueling rapid growth and complex partnerships across Silicon Valley's AI ecosystem.
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Australia is developing a A$1.2 billion strategic minerals reserve, focusing on rare earths, to mitigate supply disruptions amid China's export restrictions. The plan involves policy recommendations, potential stockpiling, and collaboration with allies, with the reserve expected to be operational by late 2026.
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Major US financial firms are expanding into Texas, with Goldman Sachs building a Dallas campus and JPMorgan Chase opening a new Manhattan headquarters. Fort Lauderdale is developing a new office district, reflecting a broader shift in the US financial landscape amid political and economic changes.
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Recent articles highlight the US's growing vulnerability due to its dependence on China for rare earth minerals. China’s export controls and dominance in processing threaten US supply chains, impacting clean energy and defense sectors. The US is attempting to diversify but faces significant hurdles.
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The US is making limited progress in reducing dependence on Chinese rare-earth minerals, essential for tech and military industries. Despite recent efforts and new processing facilities, China maintains a dominant position, complicating US strategic goals amid ongoing geopolitical tensions.