Hedge fund manager Dan Loeb's firm, Third Point, is backing small chip design company R2 Semiconductor in its legal battle against Intel. R2 has accused Intel of infringing on a patent related to voltage regulation in semiconductors, and Third Point is funding the lawsuits. Third Point has a 75% stake in R2 and plans to put up $79 million for legal costs. If R2 wins, Third Point could profit from royalty payments. Intel has dismissed R2 as a "shell company" and is fighting back. A final decision on R2's claim in Germany is expected in October. In other news, Apple and Google are reportedly in talks for a licensing deal on artificial intelligence, and China has reported better-than-expected manufacturing growth. In Europe, there's a lack of consensus on whether to follow the U.S. in banning TikTok, with some countries imposing limited bans but not advocating for a full ban. Trump's fund-raising efforts are gaining urgency due to financial strains, with legal battles and the expiration of tax cuts adding pressure. Lastly, DealBook readers shared their thoughts on the debate over increasing banks' capital requirements to avert the next financial crisis.