The Biden administration announced a new rule on foreign chip equipment exports to China. The new rule, set to be unveiled in September, will increase U.S. authority to halt exports of semiconductor manufacturing equipment from certain foreign countries to Chinese chipmakers. However, shipments from key allies such as Japan, the Netherlands and South Korea will reportedly be exempted, thereby limiting the rule’s impact.
The upcoming presidential election is seeing a significant focus on artificial intelligence (AI) policy, with Kamala Harris and Donald Trump offering contrasting views on AI regulation and safety.
The U.S. Senate is expected to pass a bill that seeks to protect children from harmful online content. This marks the first major effort by Congress in recent years to hold tech companies accountable for the impact of their platforms.
The United Arab Emirates has reportedly put a halt to meetings between Emirati AI firm G42 and U.S. congressional staffers in the wake of concerns over the potential transfer of technology to China.
Earnings Results
Microsoft Corp MSFT reported fourth-quarter revenue of $64.7 billion, up 15% year-over-year. The revenue total beat a Street consensus estimate of $64.36 billion. The company reported earnings per share of $2.95 in the fourth quarter, beating a Street consensus estimate of $2.92.
Meta Platforms Inc. META reported second-quarter revenue of $39.07 billion, beating analyst estimates of $38.31 billion. The company reported second-quarter adjusted earnings of $5.16 per share, beating analyst estimates of $4.73 per share.
Apple Inc. AAPL reported third-quarter earnings that exceeded expectations and revenue that grew year-over-year and came in ahead of the Street forecast.
Social Media & Marketplace
The U.S. Justice Department has leveled accusations against TikTok, alleging that the social media platform has been collecting data on its users’ views on sensitive topics such as gun control, abortion and religion.
The U.S. Consumer Product Safety Commission (CPSC) has held Amazon Inc. AMZN accountable for recalling over 400,000 products, including faulty carbon monoxide detectors, hairdryers without electrocution protection, and children’s sleepwear that violates federal flammability standards.
Amazon disclosed a shift in consumer preferences towards lower-priced items and everyday essentials, resulting in a drop in average selling prices (ASPs).
Gaming
The East Asia games market is projected to experience a slight downturn in 2024. According to the latest report by Niko Partners, the market, which generated $30.1 billion in 2023, is expected to contract by 2.9%, resulting in an estimated $29.2 billion in revenue for the coming year.
Monday marks the end of an era for Microsoft’s Xbox fans as the Xbox 360 Marketplace officially shuts down. Launched in November 2005 alongside the Xbox 360 console, this digital storefront became a beloved hub for gamers worldwide, offering a wide array of video games, add-ons, and other content.
Read: Xbox At Gamescom 2024: Three Days Of Live Broadcasts
Microsoft’s Activision has released a detailed study examining the effects of skill-based matchmaking (SBMM) in Call of Duty: Modern Warfare 3, revealing that adjusting the algorithm significantly impacts player retention.
Microsoft CEO Satya Nadella said that the company’s gaming platforms have crossed the 500 million monthly active users mark.
Warner Bros. Discovery Inc’s WBD Warner Bros. Games lifted the veil on the eagerly anticipated Harry Potter: Quidditch Champions with the release of its “Welcome Students” pre-order trailer.
Read: Best Deals For PS5, PS4 Games Before PlayStation Sale Ends Aug. 14
Electronic Arts Inc. EA CEO Andrew Wilson remains confident that the video game company will feel minimal short-term impact from the recent SAG-AFTRA strike.
Smartphones
Apple unveiled the first set of features for its new artificial intelligence system, Apple Intelligence, in the iOS 18.1 developer beta, ahead of its upcoming Q3 earnings.
Apple CEO Tim Cook continues to remain tight-lipped about the details of the "commercial agreement" between his company and ChatGPT-parent OpenAI.
Technology
According to anonymous sources, Jensen Huang‘s Nvidia Corp. NVDA is teaming up with Inspur, a significant distribution partner in China, to launch and distribute the new chip, provisionally named “B20.“
To attract creators and integrate AI into its consumer products, Meta Platforms has introduced a feature that allows users to create custom AI chatbots for their profiles.
Microsoft has reportedly been issuing a warning to millions of Windows 11 users about the significance of data backup.
Advanced Micro Devices, Inc. AMD CEO Lisa Su acknowledged the company’s underrepresentation in the PC market but expressed confidence in its product positioning.
Alphabet Inc.‘s GOOGL GOOG Google has introduced new measures to combat the spread of explicit deepfake content in its search results.
Intel Corp. INTC has decided to offer an extended warranty for its 13th and 14th Gen CPUs, which have been plagued by stability concerns. This move aims to mitigate customer dissatisfaction as the tech giant grapples with technical setbacks.
Artificial Intelligence (AI)
The European Union's groundbreaking AI Act, a legislation aimed at regulating artificial intelligence, officially comes into effect today, bringing significant changes for American tech giants.
In an episode of The Brainstorm that was posted on Wednesday, Cathie Wood-led ARK Invest's Sam Korus and Nick Grous explored the escalating energy demands triggered by the proliferation of electric vehicles and AI data centers.
OpenAI announced the rollout of its advanced Voice Mode to a select group of ChatGPT Plus users, promising more natural, real-time conversations and emotional responsiveness.
Meta CEO Mark Zuckerberg said that his company’s $405 billion model, Llama 3.1, has “better cost performance” compared to leading closed models, possibly referring to OpenAI’s ChatGPT.
Meta Platforms has been criticized for its AI assistant’s false denial of the attempted assassination on Trump. However, now the company has finally addressed the issue.
Microsoft revealed that its AI-powered developer tool, Copilot, has played a significant role in GitHub’s revenue growth.
Japanese snack giant Calbee Inc. CBCFF is teaming up with Silicon Valley-based Pegasus Tech to incorporate AI into their snack production process.
Image created using artificial intelligence via Midjourney.
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