Here’s the latest action:

Tech industry scores funding in stimulus package — Infrastructure spending includes $7 billion for expanding high-speed internet access, some $20 billion for building a so-called smart grid power network and $20 billion for digitizing health records. The New York Times has more.

Sirius XM prepares bankruptcy filing — Regulators approved the merger of the two satellite radio companies to avoid this from happening. But the combined company is planning a bankruptcy filing anyway. Echostar has made a bid to buy Sirius XM.

Marvel to sell “motion comics” through iTunes — The comic book king wants to jumpstart digital comics with interactive content.

Red Hat’s state of the union — Open-source group sends letter to Obama on how to use tech to increase transparency in government.

Graphics chip maker Nvidia’s sales slump 60 percent
— Nvidia’s quarter, which started in November, shows that demand for computers dried up after the economic turmoil began.

Microsoft’s new enterprise search roadmap —
Company plans to integrate its Fast search acquisition into Microsoft products.

Modu prepping its launch of modular phones — Phones with components that can mix and match will debut this fall. Techcrunch has more. president Steve Cakebread surfaces — Shortly after resigning from the software-as-a-service leader, Cakebread joins SaaS start-up Xactly. Business Insider has more.

Maryland to lift Facebook ban —
General Assembly plans to lift ban after installing protective software.

How long will lightbulbs last? — New LED lights will last a lot longer, as many as 25,000 hours compared to 2,000.

Nokia cuts production — Company will lay off hundreds of employees as demand drops.

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