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☆ House Judiciary chief launches investigation into Formula 1 over Andretti exclusion
▼ + stars: | 2024-05-07 | by ( Sahil Kapur | ) www.cnbc.com time to read: +2 min

The chairman of the powerful House Judiciary Committee is launching an investigation into Formula 1 and its U.S. owner, Liberty Media , to demand answers about the sport's decision to deny Andretti Global a spot on the grid. The letter is dated Tuesday and addressed to Greg Maffei, the president and CEO of Liberty Media, and Stefano Domenicali, the president and CEO of Formula One Group. "Delaying Andretti Cadillac's entry into Formula One for even one year will harm American consumers to benefit failing Formula One teams," Jordan writes. "Limiting the number of teams in Formula One will increase the price of sponsoring or buying into an existing Formula One team. The letter comes days after Mario Andretti, a former Formula 1 world champion, visited Capitol Hill and spoke at a press conference with lawmakers to pressure the sport to admit Andretti Global.

Persons: Mario Andretti, John James, Jim Jordan, Greg Maffei, Stefano Domenicali, Andretti, Jordan Organizations: Washington , DC, Andretti, Capitol, General Motors, Committee, Liberty Media, NBC News, Formula One, Formula, One, Andretti Global, Capitol Hill Locations: Washington ,, Ohio, United States, Michigan

☆ U.S. Congress members demand answers on Andretti's exclusion from Formula 1
▼ + stars: | 2024-05-01 | by ( Sahil Kapur | ) www.cnbc.com time to read: +5 min

Twelve members of the U.S. Congress sent a letter to Formula 1 owner Liberty Media on Wednesday demanding answers for why it is excluding Andretti Global from the sport, giving the American team powerful new allies in its bid to enter F1. "Our team, Andretti Global, is part of every major racing discipline in the world. Last fall Formula 1's governing body, the FIA, accepted the racing team's push to join the grid, saying it met the criteria. Because we have an obligation to protect the American consumer, to protect American companies, and that is our first allegiance. The move marks an earthquake for F1 as Newey is widely regarded as the greatest car designer in the sport.

Persons: Mario Andretti, Andretti Cadillac, John James, Gregory Maffei, —, that's, Andretti, James, It's, Jim Jordan, Adrian Newey, Sebastian Vettel, Max Verstappen, Newey Organizations: Auto, U.S, Capitol, U.S . Congress, Liberty Media, Andretti Global, American, General Motors, Formula, Andretti, GM, Cadillac, Rep, FIA, Formula One Management, Miami, Prix, Las Vegas, Red Bull Racing, Red Bull, NBC News Locations: U.S, Michigan, America, Ohio, Austin

Formula One's invitation to Andretti Cadillac for an in-person meeting about its application to join the motorsports series was sent via email and landed in a spam folder, which is why Michael Andretti and General Motors representatives never answered the request. The junk email revelation came Friday as Andretti Global sought to clarify two points in the sharply critical document F1 released earlier this week in rejecting the Andretti Cadillac application. An in-person meeting to discuss commercial matters would be and remains of paramount importance to Andretti Cadillac,” the team said. “Andretti Cadillac has been operating with 2026 as the year of entry for many months now," the team said. He then petitioned F1 to expand the grid for what Andretti claims will be a true American team in the series.

Persons: Andretti, Michael Andretti, Stefano Domenicali, “, “ Andretti, Andretti Cadillac, ”, Mario Andretti, Michael rank, Michael Andretti's, Gene Haas, Haas, Colton Herta, Logan Sargeant, Williams Organizations: Andretti Cadillac, General Motors, Andretti Global, Andretti, Formula One Management, FIA, American, Liberty Media Corp, GM, Cadillac, Sauber Locations: American, California

☆ Today's GenAI models are cost and energy pigs. Quantum tech could fix that.
▼ + stars: | 2024-01-19 | by ( Julie Bort | ) www.businessinsider.com time to read: +7 min

Zapata, a startup spun out of Harvard, uses quantum physics math to train GenAI models with less data. AI models must be regularly fed. AI models also require hefty, energy-consuming GPU chips. Since founding that year, Zapata has 18 patents and patents pending on its AI tech, it says. And quantum tech could be among the alternatives.

Persons: Zapata, Andretti, —, Guido Appenzeller, Christopher Savoie, Mario, Michael Andretti's SPAC, it's, GenAI Zapata, OpenAI, hasn't Organizations: Andretti Racing, Service, America, Intel's Data, CNBC, Nvidia, Andretti Global, Andretti, Corp, Zapata, BMW, Computer, Fujitsu, Google, IBM, Meta, Microsoft, Comcast Ventures, Ventures, Bloomberg Locations: Harvard, Zapata, Savoie

LAS VEGAS (AP) — General Motors said Tuesday it has registered with Formula One's governing body to become an engine supplier starting in 2028 in what is seen as a huge boost to Michael Andretti's bid to join the global motorsports series. “We are thrilled that our new Andretti Cadillac F1 entry will be powered by a GM power unit,” GM President Mark Reuss said. GM in January announced its partnership with Andretti Global under its Cadillac banner on Andretti's application to join F1. GM doesn't have its own F1 power unit and said its effort would be in conjunction with an existing manufacturer. If Andretti gets approved to join an expanded F1 grid, he would have to use another manufacturer's engine until 2028.

Persons: Motors, Michael Andretti's, Mark Reuss, Andretti Cadillac, Andretti, GM isn't, Ford, Red Bull, Honda, Colton Herta, Mario Andretti, Michael, Gene Haas, Haas, Kevin Magnussen, Nico Hulkenberg, Hulkenberg Organizations: LAS VEGAS, —, Formula, Andretti Cadillac, GM, Las Vegas, Prix, Andretti Global, GM doesn't, FIA, Audi, Sauber, Andretti, Associated Press, AP, Renault, IndyCar Locations: California, Denmark, Germany

The FIA decision does not guarantee Andretti will get the two-car team he wants. “Andretti Formula Racing LLC was the only entity which fulfils the selection criteria that was set in all material respects. Only four applicants completed the entire process; Andretti, with engines that would be General Motors-badged under the Cadillac banner, was deemed to be the only worthy applicant. Andretti has said his team will really be the American team with an actual American driver and the backing of GM and an American sponsor. For that reason, the parameters to join F1 and the entire application process is now extremely stringent.

Persons: Michael Andretti, Andretti, Cadillac, Mario Andretti, Michael, They've, Mohammed Ben Sulayem, Ben Sulayem, “, ” Ben Sulayem, Red Bull, Mercedes —, they've, Gene Haas, Haas Organizations: FIA, Andretti Global, Liberty Media, Andretti, Racing, “ Andretti, Motors, General Motors, GM, Audi, Honda, Ford, Porsche Locations: United States, North America, American

MONTEREY, Calif. (AP) — By the time Scott Dixon turned his season around, it was too late to beat teammate Alex Palou for the IndyCar championship. Palou became the first driver in nearly 20 years to clinch the IndyCar title before the season finale with his victory last weekend in Portland. Palou won his second title in three years with last week's win, his fifth of the season. “It's a credit to the team, they've been executing like that all season,” Dixon said. We won.”Ganassi became the first team owner to win the championship and top rookie honors in the same season.

Persons: Scott Dixon, Alex Palou, “ It’s, ”, Dixon, Palou, Chip Ganassi, ” Dixon, Alex, ” Dixon's, AJ Foyt's, Scott McLaughlin, Will, Callum Ilott, Christian Lundgaard, Rahal Letterman Lanigan, Alexander Rossi, Arrow McLaren, Marcus Armstrong, Pato O'Ward, McLaren, Ryan Hunter, Reay, Ed Carpenter Racing, they've, ” Ganassi, Armstrong, Colton Herta, Helio Castroneves, Bryan, Herta, he'd, Josef Newgarden Organizations: IndyCar, Laguna Seca, Team Penske, Will Power, Juncos Hollinger Racing, Ganassi, Laguna, Andretti Global, Chevrolet, Indianapolis, Honda, Palou Locations: MONTEREY, Calif, California, Portland, New Zealand, Laguna Seca

MONTEREY, Calif. (AP) — Felix Rosenqvist will end his tenure with Arrow McLaren Racing by starting from the pole in the IndyCar Series season finale at Laguna Seca. Rosenqvist won the only two poles of the season for McLaren, which is still seeking its first win of the season from its three-driver lineup headed into Sunday's finale. Rosenqvist announced earlier this week that he's moving to Meyer Shank Racing next season; McLaren said David Malukas will replace him next year. In the end, Palou decided last month he wasn't going to McLaren at all, too late for the team to retain Rosenqvist. Ericsson, who is in his fourth season with Ganassi, won the Indianapolis 500 last year and had been lobbying since for a better contract.

Persons: — Felix Rosenqvist, Arrow McLaren, Rosenqvist, “, ” Rosenqvist, Meyer Shank, McLaren, David Malukas, Alex Palou, Palou, Chip Ganassi, Scott McLaughlin, Christian Lundgaard, Rahal Letterman Lanigan, Helio Castroneves, Castroneves, Romain Grosjean, Devlin DeFrancesco, Dale Coyne, Simon Pagenaud, Meyer Shank Racing, Marcus Ericsson, Swede, Ganassi, —, Scott, Dixon, Alex, ” Ganassi, That’s, ” Ericsson, He's, Chip, I’ve, ”, Linus Lundqvist, Lundqvist Organizations: Arrow, Arrow McLaren Racing, IndyCar, Laguna, Texas, McLaren, Team Penske, Andretti Global, Dale Coyne Racing, Chip Ganassi Racing, Ericsson, Ganassi, Indianapolis, Andretti, Ericsson —, Indy, ” Ericsson, Indy Lights, Nashville Locations: MONTEREY, Calif, Laguna Seca, Swedish, Seca, Indianapolis

☆ Ford is getting back into Formula 1 racing to help sell EVs
▼ + stars: | 2023-02-03 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —America’s major automakers are getting back into Formula 1 racing. The new power units will rely much more on electric power and will burn renewable fuels in less powerful V6 engines. Formula 1 racing is very popular in Europe and has recently found increasing popularity in the United States. Ford currently competes in a variety of motorsports, including endurance sports car racing, drag racing and off-road races. Ford and Red Bull already work together in rally racing.

☆ MoneyGram boss says no peak in sight for F1's U.S. growth
▼ + stars: | 2023-01-31 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

The number of female viewers was up 34% and averaged 28% of the audience, while significantly younger fans were also watching. "I have kids of college age and they have friends and those friends have watch parties on Sunday mornings. It’s not what I was doing in college, it really wasn’t there," MoneyGram's marketing head Greg Hall told Reuters. Holmes said MoneyGram's global business made Formula One a good fit to reach a younger, digitally-aware consumer demographic. "For us to push the brand as faster, more interesting, cooler... the association with Formula One makes a huge difference."

☆ Andretti joins forces with General Motors for Cadillac Formula 1 entry bid
▼ + stars: | 2023-01-06 | by ( ) www.cnbc.com time to read: +2 min

Michael Andretti, team owner of Walkinshaw Andretti United, looks on during qualifying for Supercars Adelaide 500 on March 2, 2018 in Adelaide, Australia. Andretti have teamed up with General Motors in a bid to enter Formula 1 which, if successful, would also see the famous Cadillac name join the grid. Andretti's main headquarters would be in Indiana while General Motors would be their engine and manufacture partner, with GM brand Cadillac to form part of the entry. "It is particularly pleasing to have interest from two iconic brands such as General Motors Cadillac and Andretti Global. "Well, we're bringing one of the biggest manufacturers in the world with us now with General Motors and Cadillac.

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