From CNBC Technology · 40 stories
Tim Cook's Final Apple Earnings Call Precedes CEO Transition to John Ternus
Tim Cook conducted his final earnings call as Apple CEO during the company's fiscal third-quarter 2026 results discussion, confirming that John Ternus will lead future calls. Cook will transition to executive chairman on September 1, with Ternus becoming CEO, inheriting challenges such as memory shortages, device price increases, and AI development. Apple reported $109.42 billion in revenue for the quarter.
ASML Increases Sales Forecast Amid AI Chip Demand, Plans EUV Tool Price Hikes
ASML has raised its 2023 sales forecast to €43-45 billion due to strong demand for AI chips. Plans to increase capacity for EUV and DUV machines align with surging orders. The company is also exploring price increases for its Low-NA EUV tools, facing criticism from major client TSMC. ASML's pricing strategy and market position could impact the broader semiconductor industry.
Intel Partners With Fortinet for SP6 Chip Development on Intel 4 Technology
Intel and Fortinet have entered a strategic collaboration to develop Fortinet's Security Processor 6 (SP6) using Intel's 4 nm process. Fortinet becomes Intel's first named external silicon customer for the Intel 4 node, marking a significant development for Intel's foundry business. This collaboration strengthens the relationship between semiconductor manufacturing and cybersecurity, with Intel showcasing its foundry capabilities under CEO Lip-Bu Tan.
CuspAI Raises $450 Million with Investments from Jeff Bezos and UK Government
CuspAI, a Cambridge-based AI startup, raised $450 million in funding, valued at $2.6 billion, with contributions from Jeff Bezos and the UK government. CuspAI aims to accelerate material discovery for chipmakers using AI, reducing reliance on rare metals and potentially advancing technology in clean energy and semiconductors. This collaboration involves notable tech firms like Nvidia, marking a significant step in AI-driven material science.
TSMC Reports Strong Revenue and Profit Growth Amidst AI Chip Demand
Taiwan Semiconductor Manufacturing Co. (TSMC) recorded a 68% revenue increase in June, with total Q2 revenue up 36% year-over-year, driven by AI chip demand. Advanced chip technologies accounted for 77% of wafer revenue, contributing to a 77.4% profit rise for the quarter. TSMC plans to expand advanced chip packaging facilities in Taiwan.
Apple Engages PrismML for On-Device AI Model Compression
Apple is in discussions with PrismML, a startup that compresses large AI models to run directly on iPhones. This technology allows models like Qwen 3.6 with 27 billion parameters to operate on iPhones without relying on servers, potentially improving device performance and privacy.
Micron to Boost U.S. Chip Investments to $250 Billion by 2035
Micron has announced a strategic investment of $3 billion in U.S. semiconductor manufacturing, including $500 million for GlobalWafers' Texas wafer plant. This is part of a broader plan to increase Micron's total U.S. investment to $250 billion by 2035, driven by rising memory demand from AI advancements. The move seeks to secure a reliable domestic supply of critical input materials.
Meta Expands Hyperion Data Center in Louisiana to a 5GW Facility, Investment Surpasses $50 Billion
Meta's data center in Louisiana will grow to a 5GW facility, increasing its investment from $27 billion to over $50 billion. Supported by Louisiana's tax incentives, this expansion is part of Meta's AI infrastructure strategy and promises substantial local economic benefits.
Palantir CEO Alex Karp Criticizes AI Token Models Amid Rising Costs
Palantir CEO Alex Karp criticized the token models of AI companies OpenAI and Anthropic, highlighting inefficiencies and surging costs. He suggested businesses are turning to open-weight models and proprietary AI tools. Palo Alto Networks CEO Nikesh Arora also warned that AI token costs must drop significantly to enable wider adoption of AI technologies.
Google Search Usage Reaches Record High After World Cup Match
Google Search set a new all-time usage record following the World Cup match between Argentina and Egypt. This significant spike occurred right after Argentina's dramatic 3-2 victory, highlighting Google's continued dominance in real-time search amidst growing competition, particularly from AI tools. The record was noted for its occurrence during a fiercely contested World Cup match, drawing global interest.
SambaNova Systems Raises $1 Billion at $11 Billion Valuation
SambaNova Systems, an AI chip company, raised $1 billion in a Series F round, boosting its valuation to $11 billion. Led by General Atlantic, with further participation expected, the funding aims to accelerate SambaNova's growth in AI inference chips, a market challenging Nvidia. SambaNova is considering a future IPO as it scales rapidly.
SpaceX President Gwynne Shotwell Donates Stock to Trump's Children's Savings Accounts
Gwynne Shotwell, SpaceX President, announced a donation of her SpaceX stock to the Trump Accounts, children's savings accounts introduced by Donald Trump. The initiative, which aims to boost financial resources for children under 18, has already enrolled 6 million participants. The accounts officially launched on July 4th, accompanied by other contributions from tech figures.
Nvidia's Kyber Rack System Delayed to 2028 Due to Manufacturing Issues
Nvidia's Kyber NVL144 rack system, intended for its 2027 Rubin Ultra chips, has been delayed until 2028. This setback is due to difficulties manufacturing a crucial PCB midplane, impacting Nvidia's product roadmap and competitive position in AI hardware. An intended stopgap solution, the NVL72x2 rack, has also been canceled, leaving Nvidia with fewer options in 2027.
Even Realities Secures $150M Funding, Hits $1B Valuation for Display-First Smart Glasses
Even Realities, a smart glasses startup founded by former Apple engineers, has raised $150 million led by Meituan and Tencent, reaching a $1 billion valuation. The company focuses on developing display-first smart glasses prioritizing privacy, competing with Meta and Snap's AI and camera-equipped offerings. The funds will support further platform development and global expansion.
Humanoid Robotics Sees Major Investments and Market Moves; Ant Group's $73.58 Million Investment in Zeroth Leads Sector Push
Ant Group has invested $73.58 million in Zeroth, its 12th investment in humanoid robotics since 2025, as it diversifies post-IPO halt. Meanwhile, Agility Robotics plans to go public through a merger with Churchill Capital Corp XI, valuing it at $2.5 billion, marking a significant event in the humanoid robotics market.
Donald Trump's Tech Stock Purchases Coincide with AI Action Plan Announcement and Market Movements
Donald Trump purchased tech stocks worth up to $5 million, including shares in Apple, Amazon, and NVIDIA, coinciding with his AI Action Plan launch. These moves came amid tariff policy announcements affecting market trends, highlighting his significant financial engagements during his presidency.
Rivian Boosts 2023 Delivery Forecast Amid Strong Q2 Performance
Rivian has increased its vehicle delivery forecast for 2023 to 65,000-70,000 units, up from an earlier range of 62,000-67,000, following a strong second quarter featuring robust growth in deliveries. This update comes amid wider industry challenges and reflects confidence in demand, particularly for the new R2 SUV.
Amazon and Microsoft Launch Competing AI Deployment Units with $3.5 Billion Commitment
Amazon and Microsoft have launched new AI deployment units with a combined investment of $3.5 billion, leveraging the forward-deployed engineer (FDE) model. AWS's $1 billion organization embeds engineers with clients, while Microsoft's $2.5 billion Microsoft Frontier Co. emphasizes enterprise AI with 6,000 employees. These initiatives signify a growing trend in AI implementations.
Democratic Texas AG Candidate Vows to Probe Deloitte's Role in Voter Registration Delay
Nathan Johnson, a Democratic candidate for Texas Attorney General, announced plans to investigate Deloitte and other state vendor contracts if elected. This follows a software error, allegedly installed by Deloitte, that prevented the processing of at least 178,000 voter registrations. Johnson stated the investigation would examine the outsourcing of state functions and individual contracts.
OpenAI CEO Sam Altman declined to testify at Senate hearing on AI risks
OpenAI CEO Sam Altman declined an invitation to testify at a Senate subcommittee hearing on the risks of "rogue AI." Senator Josh Hawley, who chairs the subpanel, stated Altman's refusal was "unfortunate" given recent incidents involving OpenAI models and the need for transparency regarding AI development.
Grindr acquires telehealth provider PurposeMed for $250 million to expand into healthcare
Grindr acquired PurposeMed, parent company of HIV prevention telehealth provider Freddie, for $250 million in cash and stock. This acquisition marks Grindr's first major deal since its 2009 founding and expands its healthcare platform, Woodwork, aiming to diversify revenue beyond its core dating services.
Robinhood expands trading to 24/7 for US equities, adds AI agents and crypto perpetuals
Robinhood announced expanded trading hours for US equities to 24/7, introduced AI-powered automated trading tools, and plans to offer crypto perpetual futures contracts. These changes aim to attract more active traders by providing continuous access and advanced automation capabilities.
Local Utility Hikes and Noise Drive US Data Center Protests, Not Anti-AI Sentiment
Research indicates that public opposition to data center projects in the US is primarily driven by local environmental and economic concerns, such as increased utility costs and noise pollution, rather than broader anti-AI sentiment or political affiliations. This highlights the direct impact of data center operations on local communities, leading to widespread protests and calls for policy changes regarding infrastructure costs.
Micron's $50 Billion Boise Expansion Transforms Local Economy and Demographics
Micron's $50 billion investment in new chip manufacturing facilities in Boise, Idaho, is driving significant economic and demographic changes in the city. This expansion, fueled by the AI boom, is creating thousands of jobs and increasing wealth for Micron employees, but also leading to rising housing costs and traffic congestion for residents.
Apple Increases Prices for Apple TV and Individual Apple One Subscriptions
Apple has raised the monthly price of Apple TV from $12.99 to $14.99 and the annual price from $99 to $119. The individual Apple One subscription also increased from $19.95 to $21.95 per month. This marks the fourth price increase for Apple TV in four years and follows recent price adjustments for other Apple services.
Mistral CEO criticizes U.S. AI safety debate, citing competitors' 'negligence'
Mistral CEO Arthur Mensch stated that the U.S. AI safety debate serves as a cover for the "negligence" of some competitors, arguing that leading AI companies are not adequately containing AI agents. This criticism follows incidents of rogue AI agents and intensified safety discussions, with Mensch emphasizing the need for proper monitoring systems.
Samsung to Invest $1 Billion in AI Infrastructure Firm Helix Digital Infrastructure
Samsung Electronics and its affiliates will invest $1 billion in Helix Digital Infrastructure, an AI infrastructure company backed by KKR and Nvidia. This investment allows Samsung to expand its role in the global AI infrastructure buildout by leveraging its capabilities across semiconductors, cooling systems, data center construction, and batteries.
Rep. Ro Khanna to Introduce AI Safety Bill Banning Recursive AI Until Safeguards Exist
Representative Ro Khanna plans to introduce the "Human Control Over AI Act," which includes a ban on self-improving AI models until federal safeguards are established and a new agency approves their use. The bill aims to address safety concerns and potential catastrophic risks associated with advanced AI by creating a regulatory framework and imposing strict liability standards.
NYC Council Subpoenas Elon Musk for AI Safety Investigation Testimony
The New York City Council has subpoenaed Elon Musk or a SpaceXAI representative to testify in an investigation into AI safety risks. This action follows concerns about public safety, cybersecurity, economic stability, privacy, and consumer protection related to AI, particularly after lawsuits against SpaceXAI regarding its Grok chatbot's image generation capabilities.
Meta's Muse AI Agent Targets Subscription Bloat, Potentially Impacting Business Revenue
Meta's new AI personal agent, Muse, can identify and cancel recurring subscriptions, addressing a common consumer behavior of forgetting to cancel services. This capability could significantly impact subscription businesses that rely on consumer inertia for revenue, especially as subscription spending continues to rise.
Rising Treasury Yields Increase Borrowing Costs for AI Infrastructure Development
Treasury yields have reached their highest levels since 2007, increasing borrowing costs for companies. This rise impacts the AI infrastructure buildout, which relies heavily on debt financing, making future expansion more expensive.
Public Concern Over AI Growth and Impact Increases, Affecting Industry Perception
Public sentiment towards AI is increasingly negative, with growing concerns about its societal impact and a lack of perceived personal benefits. This shift is creating business challenges for tech companies, moving beyond just public relations issues.
Oracle Japan reports record Q1 sales and profits, driven by cloud growth
Oracle Japan's fiscal first-quarter net sales increased 13% to 74.86 billion yen, with operating profit up 22.7% and net profit up 23.2%, setting new records for the quarter. This growth was primarily driven by a 31.7% rise in cloud revenue, contrasting with a decline in its U.S. parent's shares.
SoftBank issues $11.1 billion in bonds to fund OpenAI investment
SoftBank Group issued $11.1 billion in dollar and euro-denominated bonds to finance a $10 billion payment for its follow-on investment in OpenAI. This bond issuance supports SoftBank's strategy to increase its stake in OpenAI to approximately 13% with a cumulative investment of $64.6 billion.
Trump Meets Xi Amid Strained US Alliances and China's Growing Global Trade Ties
President Trump is meeting with Chinese President Xi Jinping, facing challenges in pressuring China due to strained relationships with traditional U.S. allies. China has deepened its global trade ties and increased its economic leverage, making it harder for the U.S. to isolate Beijing.
Coinbase CEO expects U.S. crypto regulation regardless of Clarity Act vote
Coinbase CEO Brian Armstrong stated that the U.S. crypto sector will achieve regulatory clarity whether or not the Clarity Act passes the Senate. He believes that if the Act fails, the SEC and CFTC are prepared to issue new rulemaking, which would still provide the necessary framework for digital assets.
Binance invests $100 million in Circle to expand USDC stablecoin globally
Binance invested $100 million in stablecoin issuer Circle and will promote USDC on its platform as part of a five-year agreement. This partnership aims to expand USDC's global reach and increase its competitiveness against other stablecoins in international markets.
Texas Governor Halts Data Center Environmental Permits Amid Grid Audit
Texas Governor Greg Abbott ordered the state's environmental regulator to stop issuing data center permits until an audit of grid connection requests is complete. This expands an existing moratorium on new grid approvals, potentially impacting Texas's growth as a data center hub and risking significant revenue losses.
Bitcoin Reaches $85,000, Highest Level Since January, Amidst Market Recovery Debate
Bitcoin surpassed $85,000, reaching its highest point since late January, as investors assess whether the "crypto winter" has concluded. This rally occurs despite the U.S. Senate blocking the Clarity Act, which aimed to establish a regulatory framework for cryptocurrency.
Treasury Secretary Bessent Meets Chinese Vice Premier He Lifeng Ahead of Trump-Xi Summit
Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng to discuss economic issues including AI, tariffs, and rare earths. These discussions precede the upcoming summit between President Trump and President Xi Jinping, aiming to prepare for high-level talks on U.S.-China economic and trade relations.