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  • Arm’s mega IPO could be just around the corner, a year after the biggest chip deal in history fell apart | CNN Business

    Arm’s mega IPO could be just around the corner, a year after the biggest chip deal in history fell apart | CNN Business

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    New York
    CNN
     — 

    A hotly anticipated IPO for a company that designs chips for 99% of the world’s smartphones is just around the corner, after it filed paperwork Monday to go public.

    Arm is a British tech company that architects power-sipping microchips for phones and tablets and licenses them to CPU makers, including Apple and Samsung. The company was public until 2016, when Japan’s Softbank bought it for $32 billion.

    Softbank tried to offload Arm to Nvidia for $40 billion, in what would have been the biggest chip deal of all time. But global antitrust regulators put a stop to it, and the deal fell apart in February 2022.

    Arm had been a hot commodity for decades, when the smartphone business was booming. But sales of smartphones have subsided recently, as customers opt to keep their phones for longer and new tech features have become less enticing to consumers.

    The company, in its regulatory filing, said sales slipped 1% to $2.7 billion in the year that ended March 31, 2023. In the following quarter, which ended in June, sales fell 2.5%.

    Still, Arm has piqued the interest of tech investors who are looking to catch the AI wave. Softbank CEO Masayoshi Son has touted Arm as an AI company that could have “exponential growth.” He promised ChatGPT-like services would eventually be offered on Arm-designed machines.

    In its IPO filing, Arm said the company “will be central” to the transition to AI.

    “Arm CPUs already run AI and [machine learning] workloads in billions of devices, including smartphones, cameras, digital TVs, cars and cloud data centers,” the company said. “In the emerging area of large language models, generative AI and autonomous driving, there will be a heightened emphasis on the low power acceleration of these algorithms.”

    But Son and Arm’s AI promises may overstate the company’s potential, at least somewhat. Arm-based chips have appeared in some gadgets beyond smartphones and tablets, such as servers that are less power-hungry. But Arm said it does not make AI chips and is not a direct competitor to Nvidia and others that make chips that are purpose-built for AI. Nvidia’s stock has exploded more than 200% this year.

    Arm did not list the number of shares it planned to sell, so a valuation wasn’t determinable yet. But Reuters reported Softbank is looking to basically double its investment from seven years ago with a $60 billion to $70 billion valuation for Arm when it IPOs, likely next month.

    Softbank also this week bought the 25% stake in Arm that it did not own directly but that had been held by the Saudi Vision Fund, which Softbank manages. That purchase valued Arm at $64 billion, according to the Financial Times.

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  • As young conservatives try to get climate on the agenda in 2024, denial takes the spotlight instead | CNN Politics

    As young conservatives try to get climate on the agenda in 2024, denial takes the spotlight instead | CNN Politics

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    CNN
     — 

    During this week’s Republican primary debate on Fox News, a young voter notably asked about the climate crisis: How would these presidential candidates assuage concerns that the Republican Party “doesn’t care” about the issue?

    The question was all but unavoidable after weeks of extreme, deadly weather. Global temperature records have been shattered, extreme heat has soared off-the-charts in the US and the Maui wildfire death toll continues to climb.

    What followed the question was one of the night’s most chaotic exchanges, demonstrating the challenge some conservatives face in getting climate policy on the 2024 GOP agenda, even as extreme weather takes its toll on millions of people across the country.

    Florida Gov. Ron DeSantis, the leader of a state that has been thrashed by deadly extreme weather in recent years, refused the moderators’ show-of-hands question on whether climate change is caused by humans. He used the moment to deride the media and President Joe Biden’s response in Maui.

    Then 38-year-old Vivek Ramaswamy – notably the youngest candidate on stage – called the “climate change agenda” a “hoax,” an answer that elicited intense boos from the audience.

    A majority of Republicans and Republican-leaning independents – 55% – say human activity is causing changes to the world’s climate, according to a recent Washington Post/University of Maryland poll. It also found a majority of Americans and Republicans say their area has been impacted by extreme heat in the past five years.

    But connecting the dots between climate and extreme weather is proving a more partisan issue. The poll found there are deep divides between Republicans and Democrats on the question of whether human-caused climate change is contributing to extreme weather: just 35% of Republicans and Republican-leaning independents said they think climate change is a major factor in extremely hot days, compared with 85% of those who lean Democrat.

    After the debate, a prominent conservative climate group said Ramaswamy tried to clarify his position.

    “He came to our after-party and he blatantly told us that he believes climate change is real,” Benji Backer, founder of the American Conservation Coalition, told CNN. “So, he changed his position again.”

    Asked by CNN on Friday whether he believes climate change is real, Ramaswamy responded, “Climate change has existed as long as the Earth has existed. Manmade climate change has existed as long as man has existed on the earth.” In an email, Ramaswamy’s campaign spokesperson Tricia McLaughlin told CNN the candidate does believe climate change is real, but policies to address it “have little to do with climate change and more to do with penalizing the West as a way to achieve global ‘equity.’”

    Yet for Republicans working to make climate policy more mainstream in the GOP, Ramaswamy’s language at the debate echoed a climate crisis-denying candidate who wasn’t onstage, former President Donald Trump. Trump has called climate change itself a “hoax” and falsely claimed wind turbines cause cancer.

    “The fact that he chose the word hoax, to me, he’s emulating what President Trump had said before,” Heather Reams, president of conservative nonprofit Citizens for Responsible Energy Solutions, told CNN. Reams, who was sitting in the audience in Milwaukee, noted that Ramaswamy calling the “climate change agenda” a hoax didn’t go over well in a room full of Republicans.

    “The whole place booed him, so it wasn’t well received,” Reams said. “Hearing booing was actually heartening to hear that the party is really moving on, they’re seeing the economic opportunities that can be had for the United States being a leader in lowering emissions.”

    Ramaswamy’s response was an attempt to go after the older GOP voting base in the primary, Backer said. It’s the kind of audience that Fox News has historically played to when it hosts climate deniers on some of its shows or casts doubt on the connection between extreme weather and the climate crisis – but Backer said the fact the network even asked this question “just shows that the pendulum is shifting.”

    Backer warned Ramasway’s response to the question risks alienating younger conservative voters who are increasingly concerned about climate impacts.

    “I’ve in two presidential elections and I’ve never voted for a Republican president in my life, because I don’t vote for climate deniers,” Backer said, adding that climate denial “is the way of the past.”

    Several Republican presidential candidates have said they believe climate change is real and caused by human activity – a shift from previous elections.

    Former South Carolina Gov. Nikki Haley acknowledged its reality but said foreign nations, including India and China, bear larger responsibility for addressing it. Haley, South Carolina Sen. Tim Scott, former New Jersey Gov. Chris Christie and North Dakota Gov. Doug Burgum have all engaged frequently with conservative groups, Reams and Backer said.

    “I think that Nikki Haley provided a very clear, very positive response,” Danielle Butcher Franz, CEO of the American Conservation Coalition, told CNN. “We need to see more responses like that in the Republican Party. I think it’s important that we show the conservative environmental movement is here to stay.”

    Backer warned that Ramaswamy and other candidates risk losing young voters if they continue to engage in climate denial – or anything that sounds remotely like it.

    “There’s a lot of Republicans leading on this, but the narrative is that we don’t care,” Backer said. “And if we nominate another person who doesn’t care, young people are not going to forget that. There’s not going to be a lot of baby boomers in 20 years, so you better start thinking about the next generation.”

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  • Baidu and SenseTime launch ChatGPT-style AI bots to the public | CNN Business

    Baidu and SenseTime launch ChatGPT-style AI bots to the public | CNN Business

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    Hong Kong
    CNN
     — 

    Chinese tech firms Baidu and SenseTime launched their ChatGPT-style AI bots to the public on Thursday, marking a new milestone in the global AI race.

    Baidu has opened public access to its ERNIE Bot, allowing users to conduct AI-powered searches or carry out an array of tasks, from creating videos to providing summaries of complex documents.

    The news sent its shares 3.1% higher in New York on Wednesday and 4.7% higher in Hong Kong on Thursday.

    Baidu (BIDU) is among the first companies in China to get regulatory approval for the rollout, and it is the first to launch this type of service publicly, according to a person familiar with the matter.

    Until Thursday, ERNIE Bot, also called “Wenxin Yiyan” in Chinese, had been offered only to corporate clients or select members of the public who requested access through a waitlist.

    Meanwhile, SenseTime, an AI startup based in Hong Kong, also announced the public launch of its SenseChat platform on Thursday. The company’s shares surged 4% in Hong Kong following the news

    “We are pleased to announce that starting today, it is fully available to serve all users,” a SenseTime spokesperson told CNN in a statement.

    China published new rules on generative AI in July, becoming one of the world’s first countries to regulate the industry. The measures took effect on August 15.

    Baidu has been a frontrunner in China in the race to capitalize on the excitement around generative artificial intelligence, the technology that underpins systems such as ChatGPT or its successor, GPT-4. The latter has impressed users with its ability to simplify coding, rapidly create a website from a simple sketch and pass exams with high marks.

    Baidu announced its own iteration in February, giving it an early advantage in China, according to analysts. It unveiled ERNIE a month later, showing how it could generate a newsletter, come up with a corporate slogan and solve a math riddle.

    Since then, competitors such as Alibaba (BABA) and SenseTime have announced plans to launch their own ChatGPT-style tools, adding to the list of Chinese businesses jumping on the bandwagon. Alibaba told CNN Thursday that it had filed for regulatory approval for its own bot, which was introduced in April.

    The company is now waiting to officially launch and “the initial list of companies that have received the approval is expected to be released by relevant local departments within one week,” said an Alibaba Cloud spokesperson.

    Some critics say the new offerings from Chinese firms will add fuel to an existing US-China rivalry in emerging technologies. Baidu CEO Robin Li has tried to shake off that comparison, saying previously that the company’s platform “is not a tool for the confrontation between China and the United States.”

    The firm’s new feature — which will be embedded in its popular search engine, among its other offerings — follows a similar feature introduced by Alphabet’s Google (GOOGL) in May, which allows users to search the web using its AI chatbot.

    Baidu says its service stands out because of its advanced grasp of Chinese queries, as well as its ability to generate different types of responses, such as text, images, audio and video.

    By comparison, GPT-4 is also able to analyze photos, but currently only generates text responses, according to its developer, OpenAI.

    While ERNIE Bot is available globally, its interface is in Chinese, though users will be able to enter both Chinese and English prompts, a Baidu spokesperson told CNN.

    SenseTime, which unveiled its service in April, has touted a range of features, which it says allow users to write or debug code more efficiently or receive personalized medical advice from a virtual health consultation assistant.

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  • A look back at every iPhone ever | CNN Business

    A look back at every iPhone ever | CNN Business

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    New York
    CNN
     — 

    The iPhone redefined the term “cell phone.” Apple’s trademark product revolutionized the mobile phone industry, shifting from flip phones and keyboards to large screens and powerful cameras.

    With 1.2 billion units reportedly sold, the iPhone is arguably the most popular tech device in the world.

    With Apple set to unveil the iPhone 15 on Tuesday — chock full of rumored new features like a USB-C charging port, new colors and better battery performance — here is a look back at every iPhone to hit stores.

    Apple releases the original iPhone, a much-anticipated device that combines an iPod, phone and what then-company chairman Steve Jobs calls an “internet communicator.”

    “This is a day I’ve been looking forward to for two-and-a-half years,” Jobs told the crowd when unveiling the new $399 product, a 16 GB phone with a relatively terrible 2.0 megapixel camera and relatively large 3.5” screen.

    Customers queue outside the Apple Store in London for the launch of the iPhone 3G on July 11, 2008.

    With the second version of the iPhone, Apple introduces the App Store and 3G connectivity. The new device, half the cost of the original iPhone, sold more than 3 million within a month, far outpacing its predecessor and expectations.

    An Apple Store customer plays with the new iPhone 3Gs on June 19, 2009 in San Francisco, California.

    The 3GS introduces capabilities to record videos, as well as basic voice control (though Siri is still years away). The first “S” update to the iPhone also doubles the storage system, offering users an upgraded 32GB.

    An Apple employee demonstrates

    A completely redesigned device hits the shelves: thinner and sleeker with a better battery, camera and screen, the iPhone 4 starts to resemble the phone many of us use today. And with the addition of a front-facing camera, selfies and FaceTime calls enter into the chat.

    “I grew up with the Jetsons dreaming about video phones,” said Jobs at the announcement. “It’s real now.”

    An Apple customer demonstrates the voice assistant program on his newly purchased iPhone 4s outside of an Apple Store in New York City on October 14, 2011.

    Apple introduces the world to Siri, its now-iconic voice assistant, and the iMessage feature that allows iPhone users to message each other freely. Users are also given iCloud, making it possible to automatically sync all Apple devices.

    A newly released Apple iPhone 5 sits on a coffee shop countertop next to Apple's lightning connection cable in September 2012.

    With the iPhone 5 comes the Lightning cable, a shift away from the larger charging port used in Apple’s original iPhones and iPods. The 5 also gets a larger screen and LTE connectivity, making the phone much faster than its predecessors.

    The new iPhone 5S is displayed during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California.

    The 5S added the Touch ID feature, Apple’s first foray into biometric data usage as a replacement for passwords. Apple iPhone fans are also offered gold versions for the first time.

    A woman uses her smartphone in front of a display for the Apple iPhone 5C outside the company's store in the Ginza district of Tokyo, Japan, on September 20, 2013.

    In a flash of colorful plastic glory, the iPhone 5C hits the markets as a low-cost alternative to the 5S. Available in green, blue, pink, yellow and white, the 5C is shortlived. Apple discontinues the product a couple of years later.

    A woman touches an iPhone 6 Plus as it sits next to an iPhone 6 after they went on sale at the Apple Store in Sydney on September 19, 2014.

    2014: iPhone 6/6Plus, bigger and bendier

    The first Plus option comes out, offering a much taller, thinner phone – but also one more prone to bending. Customers are quick to complain about bending iPhones after the 6/6Plus hit the market.

    Apple CEO Tim Cook introduces the iPhone 6s during an Apple media event in San Francisco, California on September 9, 2015.

    Apple releases the 6S and 6S Plus with a rose gold option, as well as adds new features like 3D touch and doubled memory capabilities. Plus, the bend problem is fixed.

    The new iPhone SE is seen on display during an event at the Apple headquarters in Cupertino, California on March 21, 2016.

    Taking a step back, the iPhone SE is a cheaper, smaller device than the 6S, giving customers a chance to enjoy Apple’s phones at a much lower cost.

    The lightning connecting port is seen on an Apple Inc., iPhone 7 Plus during an event in San Francisco, California, on September 7, 2016.

    In traditional Apple fashion, the company does away with the traditional headphone jack, forcing customers to buy dongles that adapt older headsets or lightning-plug earbuds. The 7 is also the first water-resistant iPhone. It features a more static home button that cannot be pressed down, only touched, and the first dual camera lens with portrait mode.

    Phil Schiller, Senior Vice President of Worldwide Marketing at Apple, speaks about the iPhone 8 and 8 Plus during an event at the Steve Jobs Theater in Cupertino, California, on September 12, 2017.

    Apple moves away from its tradition of releasing S versions on off years, instead leaping right to the 8 and 8Plus. This is the first iPhone to support wireless charging.

    The new iPhone X is displayed during an Apple special event at the Steve Jobs Theater on the Apple Park campus on September 12, 2017 in Cupertino, California.

    Goodbye home button, hello notched screen. The X revolutionizes the Apple product once again for its 10th anniversary, turning the iPhone into something that looks very similar to today’s versions. An extra lens also added portrait mode to the front facing camera, a fan favorite for iPhones to come.

    People handle the new Apple iPhone XS and iPhone XS Max during a media tour at an Apple office in Shanghai, China, on September 21, 2018.

    After a massive physical overhaul with the X, Apple releases a largely unchanged Xs and XS Max other than an internal hardware update. Displays also became edge to edge, maximizing screen space.

    The new Apple iPhone XR is displayed during an Apple special event at the Steve Jobs Theater on September 12, 2018 in Cupertino, California.

    Announced alongside the XS, the XR is smaller and cheaper, though still larger than the 8 Plus. And although it comes with only one back camera lens, the phone is available in six colors like blue, yellow and red.

    A woman holds an iPhone 11 Pro Max while giving a live broadcast after it went on sale at the Apple Store in Beijing, China, on September 20, 2019.

    The 11 also offers six colors to choose from, as well as better dual camera capabilities with ultra-wide len options. Starting at $699, it is one of Apple’s cheaper core line phones. Meanwhile, the 11 Pro and Pro Max boast a three-lens camera and Apple’s most advanced retina display to date.

    An Apple iPhone SE smartphone is seen on August 5, 2020.

    In a throwback to its older devices, Apple shrinks down its phones to put out the SE second generation, complete with a now-retro home button. Even at a lower cost, the SE is tricked out with some of Apple’s flashiest features like an advanced camera and wireless charging.

    The Apple iPhone 12 Mini is seen on display at the Apple flagship store during a product launch event in Sydney, Australia, on November 13, 2020.

    The iPhone 12 mini is smaller than the usual iPhone but packs a powerful punch. With all of the features enjoyed by the iPhone 12 minus a little size and some battery life, the mini gives people everything they want while taking up less space in their pocket.

    A customer tries out an iPhone 12 Pro Max at the Apple flagship store during a product launch event in Sydney, Australia, on November 13, 2020.

    With the iPhone 12 series, Apple continued to upgrade its camera and display, plus introduce its proprietary MagSafe charging options. The 12 has two camera lenses while the Pro and Pro Max have three plus night mode and enhanced zoom range. The 12 and the 12 Pro are the same size, while the Pro Max is significantly larger. The 12 series also marks the end of Apple including an in-box charger with each iPhone purchase.

    Customers walk past a digital display of the new green iPhone 13 Pro inside the Apple Store on 5th Avenue in Manhattan, New York, on March 18, 2022.

    The iPhone 13 stays at the same price as the iPhone 12 with double the storage space, as well as featuring a much smaller top notch. Battery life and camera features are also majorly improved. The mini continues to be a powerful phone in a small package, and the Pro and Pro Max offer even better cameras.

    Apple iPhone SE 3 smartphones are seen during the sales launch at the company's flagship store in New York City on March 18, 2022.

    The SE is back and better than ever, though still complete with a home button and Touch ID. It enjoys a lot of the same features seen in the higher-end iPhones: potrait mode, HD video, long battery life, et cetera.

    Customers queue at the Apple Fifth Avenue store for the release of the Apple iPhone 14 range in Manhattan, New York, on September 16, 2022.

    2022: iPhone 14 series, goodbye, Mini- and SIM cards

    Doing away with the iPhone Mini for the Pro, Apple brings back the larger Pro, as well as adds a slew of safety features like Emergency SOS via satellite. The Pro and Pro Max feature a “Dynamic Island” top notch that free floats from the top of the phone to better integrate into whatever is going on onscreen, as well as a better camera and display. A physical SIM card tray is also gone with the 14, pushing users towards eSIMs only.

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  • Apple just killed the iPhone Lightning connector. What to do with your old chargers | CNN Business

    Apple just killed the iPhone Lightning connector. What to do with your old chargers | CNN Business

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    Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here.


    New York
    CNN
     — 

    At long last, Apple is killing its proprietary Lightning port in the iPhone 15 and embracing a charging cable that’s compatible with non-Apple products. That’s one less extra cord cluttering your nightstand. One less thing to forget when packing for a weekend getaway.

    But the move, hastened by a European regulatory mandate passed last year, is a largely symbolic measure that comes years after most other gadgets switched to USB-C. And it won’t do much to shrink the mountains of e-waste piling up around the globe.

    “I would classify the EU law and Apple as an evolution, not a revolution,” says Marian Chertow, a professor of industrial environmental management at the Yale School of the Environment.

    When the European Commission passed the directive last year,  it cited two motivations: First, everyone agrees that it’s super annoying to have so many cables lying around. Second, having a common charger across devices — whether they’re made by Apple or Samsung or Garmin or whoever — would “significantly reduce electronic waste.”

    Apple initially pushed back, of course, partly because selling extra Lightning cables made it lots of money. But it also said the waste argument was misguided, and that the promise of wireless charging would make the cable issue moot. (Still, the company ultimately said it would comply with the common cable rules.)

    Retiring the Lightning cable could even generate, in the short term, a surge of e-waste as iPhone users toss their useless Lightning cables in a drawer. (Which, to be clear, isn’t recommended. Apple says it has a “robust” recycling program where you can bring in used chargers and cables. You can also look for a local e-waste recycling center or Best Buy store for environmentally friendly options.)

    Big-picture, though, the impact on the mountains of global e-waste will likely be minimal.

    There are about 66 million tons of electronic waste generated each year, says Ruediger Kuehr, head of the United Nations Institute for Training and Research in Bonn, Germany. Charging cables, he said account for “a few hundred thousand tons.”

    “When we look to the pure numbers, it’s close to nothing,” Kuehr said. “But we nevertheless think it’s a very important step in order to make people … aware of the issue we are facing.”

    E-waste is a growing problem that has yet to enter the mainstream consciousness. Most of it ends up where it shouldn’t — in our closets and junk drawers — which means more materials such as copper, gold and platinum have to be mined to produce new products.

    “You can make money out of it, but you have to really do a lot of steps,” Kuehr says. “This is not understandable for the consumer in comparison to all the other waste streams.”

    Nearly 80% of all e-waste generated around the globe is not properly treated, he said.

    Whether the EU rule actually reduces waste is beside the point if it can push Apple and other manufacturers to help close the loop by making it easier to refurbish and recycle old products.

    And to Apple’s credit, the company has been “a leader in scraping off rare earth metals from its reuse pile to recover these expensive materials,” Chertow says, noting that last year Apple said it was reusing more than two-thirds of the aluminum it needed. “These days, waste experts find that “reuse” is most often a better path than recycling as more can be recovered.”

    —CNN’s Samantha Murphy Kelly contributed to this article.

    Enjoying Nightcap? Sign up and you’ll get all of this, plus some other funny stuff we liked on the internet, in your inbox every night. (OK, most nights — we believe in a four-day work week around here.)

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  • US says it has no evidence that Huawei can make advanced smartphones ‘at scale’ | CNN Business

    US says it has no evidence that Huawei can make advanced smartphones ‘at scale’ | CNN Business

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    Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world.


    Hong Kong
    CNN
     — 

    Commerce Secretary Gina Raimondo says the US government has no evidence that Huawei can produce smartphones with advanced chips “at scale,” as it continues to investigate how the sanctioned Chinese manufacturer made an apparent breakthrough with its latest flagship device.

    On Tuesday, Raimondo told US lawmakers that she was “upset” by news of the launch of Huawei’s Mate 60 Pro during her visit to China last month.

    “The only good news, if there is any, is we don’t have any evidence that they can manufacture 7-nanometer [chips] at scale,” she told a US House of Representatives hearing.

    “Although I can’t talk about any investigations specifically, I promise you this: every time we find credible evidence that any company has gone around our export controls, we do investigate.”

    Analysts who have examined the smartphone said it represented a “milestone” achievement for China, suggesting Huawei may have found a way to overcome American export controls.

    US officials have long argued that the company poses a risk to US national security, using it as grounds to restrict trade with the company. Huawei has vehemently denied the claims.

    TechInsights, a research organization that specializes in semiconductors and took the phone apart for analysis, says it includes a 5G Kirin 9000s processor developed by China’s leading chipmaker, Semiconductor Manufacturing International Corporation (SMIC).

    That surprised many because SMIC, a partially state-owned Chinese company, has also been subject to US export restrictions for years. It has not responded to previous requests for comment from CNN.

    TechInsights also found two chips belonging to SK Hynix, a South Korean chipmaker, inside the handset.

    A SK Hynix spokesperson told CNN earlier this month that it was aware of the issue and investigating how that was possible, since the South Korean firm “no longer does business with Huawei” because of US export controls.

    Huawei declined to comment on the capabilities and components of its phone.

    Raimondo said Tuesday that US officials were “trying to use every single tool at our disposal … to deny the Chinese an ability to get intellectual property to advance their technology in ways that can hurt us.”

    In 2019, Huawei was added to the US “entity list,” which restricts exports to select organizations without a US government license. The following year, the US government expanded on those curbs by seeking to cut Huawei off from chip suppliers that use US technology.

    That left the company, once the world’s second largest smartphone seller, in bad shape.

    As of the second quarter of 2023, Huawei was no longer in the top five of mobile phone vendors in China, let alone globally, according to Counterpoint Research.

    But its new phone is a big help for the company — and may pose a challenge to Apple’s (AAPL) market share in China, according to Ivan Lam, a senior analyst at Counterpoint.

    Huawei is scheduled to hold a product launch event next Monday, where new phones are expected to be the main focus, according to Toby Zhu, a Canalys mobility analyst.

    Other devices, like tablets or earphones, may also be shown off. Huawei has not publicly released details of the event.

    In the coming months, the firm plans to release another 5G phone, possibly under Nova, its mid-range lineup, Chinese news outlet IT Times reported Tuesday, citing unidentified industry sources. Huawei declined to comment.

    Zhu said the phone was widely expected to come with 5G capability, powered either by the “Kirin 9000s chip or another chip.”

    If it does, the new model could become even more popular than the Mate 60 Pro, which starts at 6,999 yuan (about $959), because of its relative affordability, he added.

    While Raimondo was unhappy with the timing of Huawei’s launch, analysts say it was unlikely to have been arranged to coincide with her presence in China.

    It was likely “a marketing campaign aimed at winning over customer interest before the iPhone 15 hits the market,” analysts at Eurasia Group wrote in a report.

    The move helped the Shenzhen-based company capture the second spot in China’s smartphone market in the first week of September, ahead of Apple’s big event, said Lam of Counterpoint.

    — Rashard Rose and Mengchen Zhang contributed to this report.

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  • Zuckerberg unveils Quest 3 as Meta tries to stay ahead in the mixed reality headset game | CNN Business

    Zuckerberg unveils Quest 3 as Meta tries to stay ahead in the mixed reality headset game | CNN Business

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    New York
    CNN
     — 

    Meta is moving forward in its efforts to dominate the AR world with the new and improved Meta Quest 3.

    Unveiled by CEO Mark Zuckerberg at the company’s virtual Meta Connect event Wednesday, the headset starts at $500 and is a complete redesign of earlier models. The Quest 3, first announced in June, offers improved performance, immersive new mixed-reality features and a sleeker, more comfortable design.

    With a much stronger processor, higher-resolution display, revamped Touch Plus controllers and a 40% slimmer physique, the Quest 3 is a big step up from its predecessors. The Meta Quest 2 allows for strictly virtual reality, while the Meta Quest Pro has advanced passthrough cameras for seeing your actual surroundings, but it costs a whopping $1,000.

    Most importantly, the Quest 3 has support for Meta Reality, allowing users to enjoy mixed-reality experiences that blend the real world with the virtual one — for example, you can play a virtual piano on your real-life coffee table.

    “If you pick up a digital ball and throw it at the physical wall, it’ll bounce off it,” Zuckerberg said at Meta Connect Wednesday. “If someone’s shooting at you and you want to duck the fire, you just get behind your physical couch.”

    The Meta Quest virtual library is fully accessible with the Quest 3 – a library that now features VR-friendly Roblox, released Wednesday, and is set to add X Box cloud gaming in December, giving gamers the chance to play titles like Halo and Minecraft on a large screen anywhere.

    The headset is available for preorder now and officially hit stores on Oct. 10, available in two storage options (128GB and 512GB).

    Zuckerberg explains features of the new Quest 3 headset on September 27, 2023.

    Meta’s newest headset comes three years after the Quest 2, under a year after the Quest Pro and under four months after the Apple Vision Pro.

    Dubbed by Zuckerberg as the “first mainstream mixed reality headset” the Quest 3 is part of an ongoing arms race between two of tech’s biggest players to command the headset space – and Zuckerberg’s personal vision for a next-generation internet where users can interact with each other in virtual spaces resembling real life. And it comes in at a much cheaper price than the Apple alternative (which will cost you $3,499, to be exact) and is still mainly a VR headset with alternative reality options, while Apple’s product is a dedicated mixed reality experience.

    To get ahead of Apple’s June unveiling of the Vision Pro, Zuckerberg teased the Meta Quest 3 just days before its rival’s big announcement. But the two companies had a tense relationship even before Apple’s entry into the market. They have competed over news and messaging features, and their CEOs have traded jabs over data privacy and app store policies. Last February, Meta said it expected to take a $10 billion hit in 2022 from Apple’s move to limit how apps like Facebook collect data for targeted ads.

    Meta has until now been the dominant player in the headset market, but it has so far struggled to attract a mainstream audience for its VR headset products. The Wall Street Journal reported last year that Meta had just 200,000 active users in Horizon Worlds, its app for socializing in VR. And in 2023, IDC estimates just 10.1 million AR/VR headsets will ship globally from the entire market, far below the tens of millions of iPhones Apple sells each quarter.

    Morgan Stanley analysts called Apple’s Vision Pro a “moonshot” effort following its June announcement, saying the product “has the potential to become Apple’s next compute platform,” but that the company has “much to prove” before the headset’s launch next year.

    The biggest fight may not be between tech giants, but for the general public’s acceptance. Many analysts say the biggest hurdle to consumer adoption of mixed reality headsets is ensuring a wide range of potential use cases and experiences available on the devices. While Meta has introduced features that let users play games, explore virtual worlds, watch YouTube videos, workout, chat with friends and more, it has yet to convince most consumers that the device is worthwhile.

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  • Dubai to start robotaxi trials next month in major autonomous push | CNN Business

    Dubai to start robotaxi trials next month in major autonomous push | CNN Business

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    Editor’s Note: A version of this story appears in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. Sign up here.


    Abu Dhabi, UAE
    CNN
     — 

    Dubai is rolling out its first round of robotaxis next month, as a part of a plan to alleviate congestion and accidents.

    Five fully autonomous electric taxis, operated by a General Motors subsidiary called Cruise, will begin test driving on an 8km (5 mile) stretch in the upscale Jumeirah district of the United Arab Emirates city, according to Ahmed Bahrozyan, the CEO of Dubai’s Roads and Transport Authority (RTA).

    Dubai hopes to become the first Middle Eastern city to introduce driverless taxis, Bahrozyan said. Autonomous taxis currently operate in several cities around the world, mostly in the US and China.

    Cruise operates commercial robotaxis in US cities like San Francisco, but Dubai would be the first launch of the cars outside the US, Bahrozyan said.

    “We are doing our own set of tests and trials in Dubai… every city has its own characteristics,” Bahrozyan said in an interview with CNN. “We have weather conditions that are certainly different than the US.”

    RTA plans to roll out 4,000 self-driving taxis by 2030, adding to the fleet of 12,000 traditional taxis in the city. Rides are expected to be slightly more expensive than an ordinary taxi but in the same price range as a private car like Uber.

    Cruise entered a contract with the RTA for 15 years, and after this period the taxi market may open up to competitors. Bahroyzyan said he foresees autonomous vehicles eventually making up the majority of the Middle East tourist hub’s taxi fleet.

    A year after GM’s Cruise robotaxis were launched in California, the company was forced to cut its fleet in half in the state following a series of collisions. The collisions outlined the potential challenges of driverless cars.

    Bahroyzyan said there will be “zero compromise on safety.”

    Dubai issued a law in April to regulate autonomous vehicles, setting benchmarks for technical, operational and safety aspects of cars. Selling and buying autonomous cars was also regulated.

    WeRide, a Chinese autonomous car technology company began trialing robotaxis in the UAE’s capital, Abu Dhabi, in 2022.

    In July, the UAE granted WeRide a license to trial all its vehicles, from robobuses to robosweepers, but the company began testing certain routes a year prior.

    The Middle East is a “key focus area” for driverless cars and WeRide said it hopes to deepen its presence in the region. WeRide also has a collaboration with the Saudi Artificial Intelligence Company to develop a robobus route.

    Saudi’s Transport General Authority introduced self-driving buses during the 2023 Hajj season in July, shuttling pilgrims in Mecca, according to local media.

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  • Microsoft, Amazon facing UK antitrust probe over cloud services | CNN Business

    Microsoft, Amazon facing UK antitrust probe over cloud services | CNN Business

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    London
    CNN
     — 

    Microsoft and Amazon could be in hot water over apparently making it difficult for UK customers to use multiple suppliers of vital cloud services.

    The Competition and Markets Authority (CMA), the country’s antitrust regulator, said Thursday it was launching an investigation into the UK cloud infrastructure services market to determine whether players were engaged in anti-competitive practices.

    Cloud computing firms, such as Microsoft and Amazon Web Services (AWS), use data centers around the world to provide remote access to computing services and storage. This “cloud infrastructure” forms the foundation for how software applications, such as Gmail and Dropbox, are developed and run.

    The CMA probe has been initiated following a report from Britain’s media and communications regulator Ofcom, which found that the supply of cloud infrastructure in the United Kingdom is highly concentrated and competition limited.

    “We welcome Ofcom’s referral of public cloud infrastructure services to us for in-depth scrutiny,” CMA CEO Sarah Cardell said in a statement.

    “This is a £7.5 billion market that underpins a whole host of online services — from social media to [artificial intelligence] foundation models. Many businesses now completely rely on cloud services, making effective competition in this market essential.”

    The CMA said it would conclude its investigation by April 2025.

    The probe is the latest evidence of increased scrutiny of big tech companies by European regulators, which have tightened rules in recent years in areas such as data protection and targeted advertising.

    The European Digital Services Act, which came into force at the end of August, reflects one of the most comprehensive and ambitious efforts by policymakers anywhere to regulate tech giants. It applies to companies including Amazon (AMZN), Apple (AAPL), Google (GOOG), Microsoft (MSFT), Snapchat, TikTok and Meta (META), the owner of Facebook and Instagram.

    According to Ofcom, last year Microsoft and AWS had a combined market share of 70-80% in the UK cloud infrastructure services market. Google is their closest competitor with a share of 5-10%.

    In its report, Ofcom identified features of the market that make it more difficult for customers to change providers or to use multiple providers, such as switching fees.

    “If customers have difficulty switching and using multiple providers, it could make it harder for competitors to gain scale and challenge AWS and Microsoft effectively for the business of new and existing customers,” Ofcom wrote.

    The report also raised concerns about the software licensing practices of some cloud providers, particularly Microsoft.

    Both Amazon and Microsoft said they would engage “constructively” with the CMA.

    But a spokesperson for AWS added that the company disagreed with Ofcom’s findings. “We… believe they are based on a fundamental misconception of how the IT sector functions, and the services and discounts on offer,” the spokesperson said, noting that “the cloud has made switching between providers easier than ever.”

    A spokesperson for Microsoft added: “We are committed to ensuring the UK cloud industry remains innovative, highly competitive and an accelerator for growth across the economy.”

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  • EU warns Elon Musk of ‘penalties’ for disinformation circulating on X amid Israel-Hamas war | CNN Business

    EU warns Elon Musk of ‘penalties’ for disinformation circulating on X amid Israel-Hamas war | CNN Business

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    CNN
     — 

    European officials warned X on Tuesday that the company formerly known as Twitter appears to have been hosting misinformation and illegal content about the war between Hamas and Israel, in potential violation of the European Union’s signature content moderation law.

    In a letter addressed to X owner Elon Musk, Thierry Breton, a top European commissioner, said X faces “very precise obligations regarding content moderation” and that the company’s handling of the unfolding conflict so far has raised doubts about its compliance.

    As a platform subject to Europe’s Digital Services Act (DSA), X could face billions in fines if regulators conclude that violations have occurred. X didn’t immediately respond to a request for comment.

    The warning letter highlights X’s potentially vast legal exposure as it battles a wave of bogus claims linked to the war that have been attributed to everything from fake White House press releases to false news reports and out-of-context videos from unrelated conflicts or even video games.

    Much of the problematic content appears to stem from platform changes made under Musk’s supervision, Breton suggested in the letter, which he shared on X.

    For example, he wrote, X announced over the weekend that it was making it easier for accounts to qualify for newsworthiness exceptions to its platform rules. The change to X’s Public Interest Policy made it so that accounts no longer require a minimum of 100,000 followers to qualify; they need only be “high profile” accounts that, as before, represent current or potential government officials, political parties or political candidates.

    Removing the follower threshold and replacing it with a celebrity standard leaves it “uncertain” what content, particularly “violent and terrorist content that appears to circulate on your platform,” will be removed, Breton wrote.

    Under the DSA, which became enforceable for large platforms in August, companies must also act swiftly when officials highlight content that violates European laws, which X may not be doing, Breton warned.

    “We have, from qualified sources, reports about potentially illegal content circulating on your service despite flags from relevant authorities,” Breton wrote.

    “I remind you that following the opening of a potential investigation and a finding of non-compliance, penalties can be imposed,” he added.

    In an exchange on X, Musk replied to Breton. “Our policy is that everything is open source and transparent, an approach that I know the EU supports,” Musk wrote. “Please list the violations you allude to on X, so that that the public can see them.”

    Breton posted back: “You are well aware of your users’ — and authorities’— reports on fake content and glorification of violence. Up to you to demonstrate that you walk the talk. My team remains at your disposal to ensure DSA compliance, which the EU will continue to enforce rigorously.”

    The EU letter comes as misinformation about the conflict continues to spread widely across X.

    On Tuesday, the investigative journalism group Bellingcat said a fake video designed to look like a BBC News report was circulating on social media.

    The video falsely claimed Bellingcat found evidence that Ukraine had smuggled weapons to Hamas. Elliot Higgins, the founder of Bellingcat, said the report was “100% fake.”

    In an effort to make the video look like a real BBC News report, its creators used graphics almost identical to what the BBC uses in its own online video reports.

    The video circulated on Telegram and was shared by at least one verified account on X.

    X did not remove the fake BBC News video, but it did append a small label under the video noting it is “manipulated media.”

    In response to a question about the fake video, a BBC spokesperson said, “In a world of increasing disinformation, we urge everyone to ensure they are getting news from a trusted source.”

    Shayan Sardarizadeh, a BBC News reporter, wrote on X Tuesday, “The video is 100% fake.”

    Since taking over, Musk has laid off large swaths of X’s content moderation and policy teams, prompting backlash from civil society groups, which have warned about an increased threat of misinformation and hate speech.

    In what he called an effort to deter the creation of automated accounts, Musk also eliminated the traditional verification badges that once reassured users of an account’s authenticity, replacing it with a paid system that has allowed any user to receive a verification badge without undergoing an identity check. Misinformation experts have said that the move undermined users’ ability to determine the credibility of any given account, particularly during a fast-moving news event.

    But Musk himself has directly contributed to the chaos, at one point sharing – and then deleting – a post recommending that users follow an account that has been known to share misinformation, including a fake report earlier this year of an explosion at the Pentagon.

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  • Parents urged to delete their kids’ social media accounts ahead of possible Israeli hostage videos | CNN Business

    Parents urged to delete their kids’ social media accounts ahead of possible Israeli hostage videos | CNN Business

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    New York
    CNN
     — 

    Schools in Israel, the UK and the US are advising parents to delete their children’s social media apps over concerns that Hamas militants will broadcast or disseminate disturbing videos of hostages who have been seized in recent days.

    A Tel Aviv school’s parent’s association said it expects videos of hostages “begging for their lives” to surface on social media. In a message to parents, shared with CNN by a mother of children at a high school in Tel Aviv, the association asked parents to remove apps such as TikTok from their children’s phones.

    “We cannot allow our kids to watch this stuff. It is also difficult, furthermore – impossible – to contain all this content on social media,” according to the parent’s association. “Thank you for your understanding and cooperation.”

    Hamas has warned that it will post murders of hostages on social media if Israel targets people in Gaza without warning.

    There are additional concerns that terrorists will exploit social media algorithms to specifically target such videos to followers of Jewish or Israeli influencers in an effort to wage psychological warfare on Israelis and Jews and their supporters globally.

    During the onslaught on Saturday, armed Hamas militants poured over the heavily-fortified border into Israel and took as many as 150 hostages, including Israeli army officers, back to Gaza. The surprise attacks killed at least 1,200 people, according to the Israel Defense Forces, and injured thousands more.

    Since Israel began airstrikes on the Palestinian enclave Saturday, at least 1,055 people have been killed in Gaza, including hundreds of children, women, and entire families, according to the Palestinian health ministry. It said a further 5,184 have been injured, as of Wednesday.

    As the war wages on, some Jewish schools in the US are also asking parents not to share related videos or photos that may surface, and to prevent children – and themselves – from watching them. The schools are also advising community members to delete their social media apps during this time.

    “Together with other Jewish day schools, we are warning parents to disable social media apps such as Instagram, X, and Tiktok from their children’s phones,” the head of a school in New Jersey wrote in an email. “Graphic and often misleading information is flowing freely, augmenting the fears of our students. … Parents should discuss the dangers of these platforms and ask their children on a daily basis about what they are seeing, even if they have deleted the most unfiltered apps from their phones.”

    Another school in the UK said it asked students to delete their social media apps during a safety assembly.

    TikTok, Instagram and X – formerly known as Twitter – did not immediately respond to requests for comment on how they are combating the increase of videos being posted online and for comment on schools asking parents to delete these apps.

    But X said on its platform is has experienced an increase in daily active users in the conflict area and its escalation teams have “actioned tens of thousands of posts for sharing graphic media, violent speech, and hateful conduct.” It did not respond to a request to comment further or define “actioned.”

    “We’re also continuing to proactively monitor for antisemitic speech as part of all our efforts,” X’s safety team said. “Plus we’ve taken action to remove several hundred accounts attempting to manipulate trending topics.”

    The company added it remains “laser focused” on enforcing the site’s rules and reminded users they can limit sensitive media they may encounter by visiting the “Content you see” option in Settings.

    Still, misinformation continues to run rampant on social media platforms, including X.

    A post viewed more than 500,000 times – featuring the hashtag #PalestineUnderAttack – claimed to show an airplane being shot down. But the clip was from the video game Arma 3, as was later noted in a “community note” appended to the post.

    Another video that is purported to show Israeli generals after being captured by Hamas fighters was viewed more than 1.7 million times by Monday. The video, however, instead shows the detention of separatists in Azerbaijan.

    On Tuesday, the European Union warned Elon Musk of “penalties” for disinformation circulating on X amid Israel-Hamas war.

    The EU also informed Meta CEO Zuckerberg on Wednesday of a disinformation surge on its platforms – which include Facebook – and demanded the company respond in 24 hours with how it plans to combat the issue.

    In an Instagram story on Tuesday, Zuckerberg called the attack “pure evil” and said his focus “remains on the safety of our employees and their families in Israel and the region.”

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  • Between 100 and 300 believed killed in Gaza hospital blast, according to preliminary US intelligence assessment | CNN Politics

    Between 100 and 300 believed killed in Gaza hospital blast, according to preliminary US intelligence assessment | CNN Politics

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    CNN
     — 

    The US intelligence community assesses that there likely were between 100 to 300 people killed in the blast at the Al-Ahli Baptist Hospital in Gaza, and there was “only light structural damage at the hospital,” according to an unclassified intelligence assessment obtained by CNN that adds more detail to the initial assessment released Wednesday finding Israel was not responsible for the strike.

    The unclassified assessment sent to Capitol Hill by the Office of the Director of National Intelligence adds more detail to the US intelligence community’s initial assessment released Wednesday that Israel was not responsible for the strike on the hospital.

    “Israel Probably Did Not Bomb Gaza Strip Hospital: We judge that Israel was not responsible for an explosion that killed hundreds of civilians yesterday [17 October] at the Al Ahli Hospital in the Gaza Strip,” the assessment states. “Our assessment is based on available reporting, including intelligence, missile activity, and open-source video and images of the incident.”

    The US intelligence community also estimates the number of deaths from the hospital at the “low end of the 100-to-300 spectrum,” according to the assessment, a lower number than figures initially cited by Hamas of more than 500.

    The intelligence community “observed only light structural damage at the hospital,” with no observable damage to the main hospital building and no impact craters, according to the assessment.

    “We see only light damage to the roofs of two structures near the main hospital building, but both structures remained intact,” the assessment states.

    The US intelligence community released its initial assessment on Wednesday that Israel was not responsible after President Joe Biden stated publicly while in Israel that the strike appeared to have been “the result of an errant rocket fired by a terrorist group in Gaza.” Biden is giving a primetime address from the Oval Office on Thursday evening.

    The National Security Council has said that the Biden administration plans to publicize as much intelligence as it can about the strike amid accusations that Israel was responsible for the blast.

    “We will be sharing that information with our friends and partners in the region we have shared as much of that information as we can publicly,” Deputy National Security Adviser Jon Finer said on “CNN This Morning” on Thursday.

    The assessment states that intelligence indicates that “some Palestinian militants in the Gaza Strip assessed that the explosion was likely caused by an errant rocket or missile launch carried out by Palestine Islamic Jihad” and that the militants were still investigating.

    “We continue to work to corroborate whether the explosion resulted from a failed PIJ rocket,” the ODNI assessment states.

    “We are still assessing the likely casualty figures and our assessment may evolve, but this death toll still reflects a staggering loss of life,” the assessment states. “The United States takes seriously the deaths of all civilians, and is working intensively to address the humanitarian crisis in Gaza.”

    Finer told CNN that the assessment of the hospital strike was a warning to the danger of drawing conclusions amid the fog of war. “I think this is a cautionary note for governments in the region, and frankly for press, in responding to each and every twist and turn in a conflict,” he said.

    The Biden administration has been debating how much raw intelligence to declassify underpinning its assessment that the deadly blast at the Gaza hospital was caused by an errant rocket from a Palestinian militant group — not a missile from Israel, according to a senior administration official.

    The White House believes that providing a clearer assessment to the public would be useful in trying to establish a clear and accurate narrative of events, this official said, noting it hasn’t reached a conclusion about how effective raw intelligence would be in that effort.

    The debate a reflects growing concern that the US and Israel have lost control of the narrative spiraling out of Gaza that Israel was to blame for those killed in the hospital blast on Tuesday evening.

    Former intelligence officials and sources familiar with current US intelligence were skeptical that there was anything the US might make public that would be believed in the Arab world.

    “Unfortunately, the narratives have already spread and solidified at this point,” said one US official.

    Following a classified Capitol Hill briefing Wednesday afternoon, a bipartisan group of senators urged the Biden administration to make public as much of the intelligence as possible.

    “A part of the focus also has to be lowering the temperatures in some of the countries that have had reasonably good relationships with Israel — think Jordan, think Egypt,” Sen. Thom Tillis, Republican from North Carolina, told reporters on Wednesday. “That’s more of the focus now.”

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  • China wants to limit minors to no more than two hours a day on their phones | CNN Business

    China wants to limit minors to no more than two hours a day on their phones | CNN Business

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    Hong Kong
    CNN
     — 

    China is proposing new measures to curb the amount of time that kids and teens can spend on their phones, as the country takes aim at internet addiction and tries to cultivate “good morality” and “socialist values” among minors.

    A proposal released by the Cyberspace Administration of China, the country’s top internet regulator, on Wednesday would require all mobile devices, apps and app stores to have a built in “minor mode” that would restrict daily screen time to a maximum of two hours a day, depending on the age group.

    The restrictions, if approved, would mark an expansion of existing measures rolled out in recent years as Beijing aims to limit screen time among kids and reduce their exposure to “undesirable information.”

    Under the draft rules, which are open for public discussion until September 2, children and teens using devices on minor mode would automatically see online applications close when respective time limits are up. They would also be offered “age-based content.”

    No one under 18 would be able to access their screens between 10 p.m. and 6 a.m. while using the mode.

    Children under eight would be able to use their phones for only 40 minutes a day, while those between eight and 16 would get an hour of screen time. Teenagers over 16 and under 18 would be allowed two hours.

    All age groups would receive a reminder to rest after using their device for more than 30 minutes.

    Mobile internet service providers should also actively create content that “disseminates core socialist values” and “forges a sense of community of the Chinese nation,” the draft says.

    Parents would be able to override time restrictions, and certain educational and emergency services would not be subject to the time limits.

    “Internet addition” has emerged as a major social concern in recent years, giving rise to an often scientifically dubious and at times dangerous industry of boot-camp style treatment centers.

    Parents interviewed by CNN voiced tentative support for the proposal.

    “I think it’s good. On the one hand, it can protect their vision as many young kids cannot stop themselves while watching something they like,” said a mother of two in eastern China’s Zhejiang province, who did not wish to provide her name.

    “On the other hand, it’s easier for us parents to control our kids screen time,” she said. “Most importantly the content under the minor mode is more positive and healthy.”

    Myopia has become a national health concern in China, with some experts linking the prevalence of nearsightedness among young people to lack of exposure to sunlight or excess screen time.

    China has one of the world’s largest internet user bases, with roughly 1.07 billion people in the country of 1.4 billion having access to the web, according to the China Internet Network Information Center. About one in five users were 19 years or under, as of December.

    The effectiveness of the new proposed measures may depend on buy-in from parents, according to a father of two in southeastern China’s Zhuhai city, who said children sometimes use their parents’ accounts to play online.

    The regulation could be useful to “help parents to supervise the children” and limit screen time.

    “Even us adults need it!” he joked.

    The new measures could present challenges for tech companies, which are typically held responsible for enforcing regulations.

    The proposal comes as a severe, years-long regulatory crackdown on China’s tech giants appears to be coming to an end.

    The Hong Kong-listed shares in some of the country’s top internet firms closed sharply lower on Wednesday, after the new rules were publicized.

    Tencent

    (TCEHY)    , which operates popular messaging platform Wechat, finished about 3% lower. Video-streaming app Bilibili

    (BILI)     lost 7%, while rival Kuaishou closed down 3.5%. Weibo, a Twitter-like platform, ended 4.8% lower.

    On Thursday, the firms were trading flat to higher, with the exception of Weibo, which was trading about 1% lower.

    CNN has approached mobile phone makers Xiaomi, Apple and Huawei for comment.

    Two years ago, Chinese regulators barred online gamers under the age of 18 from playing on weekdays and limited their play to just three hours on weekends, tightening earlier limits.

    Around that time, several tech companies introduced measures allowing for more parental controls, in lockstep with Beijing’s push for more oversight.

    Douyin, the Chinese version of TikTok, introduced a “teenage mode” in 2021 which limited the amount of time children under the age of 14 could spend on the short-form video app to 40 minutes a day.

    Kuaishou, another popular video app, has a similar option.

    Past efforts have relied on internet users to register with their real names. Last year, regulators mandated that all online sites verify users’ real identities before allowing them to submit comments or like posts.

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  • Justice Kagan order: Apple doesn’t have to change app store terms while battling Epic in court | CNN Business

    Justice Kagan order: Apple doesn’t have to change app store terms while battling Epic in court | CNN Business

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    Washington
    CNN
     — 

    A judicial order forcing Apple to change some of its app store terms will not need to take immediate effect while litigation over the decision plays out, Supreme Court Justice Elena Kagan said on Wednesday, handing a temporary defeat to opponents of the company.

    The order is a setback for “Fortnite”-maker Epic Games as Apple appeals a lower-court ruling that found the iPhone-maker had violated California competition law.

    Epic Games declined to comment on Kagan’s decision, which occurred in the Supreme Court’s so-called “shadow docket” and was not referred to the full court.

    Apple didn’t immediately respond to a request for comment.

    Apple had previously been ordered not to interfere with efforts by iOS app developers to inform their users within their apps about alternatives to Apple’s in-app payment system, which allows Apple to take a commission.

    In April, a federal appeals court upheld the order that, if allowed to take effect, would prevent Apple from intervening when developers include “buttons, external links or other calls to action that direct customers to purchasing mechanisms” apart from Apple’s own channels.

    The appeals court temporarily paused enforcement of the injunction while Apple appeals the ruling to the Supreme Court. But last month, Epic Games filed an emergency request to the court calling for the order to be put into effect immediately, saying the public would otherwise be harmed by Apple’s practices.

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  • Microsoft gives ground on streaming in bid to remove UK block on Activision deal | CNN Business

    Microsoft gives ground on streaming in bid to remove UK block on Activision deal | CNN Business

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    London
    CNN
     — 

    Microsoft has made a major concession to UK authorities in a bid to remove the last remaining regulatory obstacle to its huge takeover of Activision Blizzard.

    The companies have submitted a new proposal to the UK antitrust watchdog — the only regulator worldwide standing in the way of the $69 billion deal — that would see Activision’s (ATVI) cloud streaming rights outside the European Union and three other European countries sold to a rival, Ubisoft Entertainment. Microsoft President Brad Smith said in a blog post Tuesday that the companies believe the new proposal “presents a substantially different transaction” for the CMA to consider than its previous merger agreement.

    “We believe that this development is positive for players, the progression of the cloud game streaming market, and for the growth of our industry,” Smith said.

    The restructured deal, announced by the UK Competition and Markets Authority Tuesday, follows a decision by the CMA to block the acquisition on its original terms. That move put it at odds with EU regulators, which approved the plan in May. A US federal court also said in July that it would not block the deal from closing.

    CMA chief executive Sarah Cardell said the regulator would now consider the new proposal.

    “Our goal has not changed — any future decision on this new deal will ensure that the growing cloud gaming market continues to benefit from open and effective competition driving innovation and choice.”

    Under the restructured deal, Ubisoft — a French video game developer — will be able to license out Activision’s content to any cloud gaming provider outside the European Economic Area, including in the United Kingdom. Shares in Ubisoft jumped 7% in Paris Tuesday.

    “This will allow gamers to access Activision’s games in different ways, including through cloud-based multigame subscription services,” Cardell said.

    Microsoft and Activision agreed last month to extend their merger deadline by three months to October 18, to allow more time to come to an agreement with the CMA. October 18 is now also the statutory deadline for a CMA decision on the new merger proposal, and Microsoft said it expects the agency’s review process to be completed ahead of that date.

    Microsoft (MSFT) announced the planned acquisition of Activision early last year. The transaction was valued at $69 billion at the time, making it one of the tech industry’s largest deals.

    Activision Blizzard is one of the world’s biggest video game developers, producing games such as “Candy Crush,” “Call of Duty,” “World of Warcraft” and “Overwatch.”

    –CNN’s Clare Duffy contributed to this report.

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  • Google rolls out a major expansion of its Bard AI chatbot | CNN Business

    Google rolls out a major expansion of its Bard AI chatbot | CNN Business

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    New York
    CNN
     — 

    Google’s Bard artificial intelligence chatbot is evolving.

    The company on Tuesday announced a series of updates to Bard that will give the chatbot access to Google’s full suite of tools — including YouTube, Google Drive, Google Flights and others — to assist users in a wider variety of tasks. Users will be able, for example, to ask Bard to plan an upcoming trip, complete with real flight options. Or a user could ask the tool to summarize meeting notes made in a recent Google Drive document.

    The connections to Google’s other services are just some of the improvements to Bard coming Tuesday. Other updates include the ability to communicate with the chatbot in multiple languages, new fact-checking capabilities and a broad update to the large language model that the tool is built on.

    The new features mark the biggest update to Google’s Bard in the six months since it was widely released to the public.

    The update comes as Google and other tech giants, including Microsoft and ChatGPT maker OpenAI, race to roll out increasingly sophisticated consumer-facing AI technologies, and to convince users that such tools are more than just a gimmick. Google — which earlier this year reportedly issued an internal “code red” after OpenAI beat it to the release of its AI chatbot — is now flexing the power of its other, widely used software programs that can make Bard more useful.

    “These services in conjunction with one another are very, very powerful,” Sissie Hsiao, general manager for Google Assistant and Bard, told CNN ahead of the launch. “Bringing all the power of these tools together will save people time — in 20 seconds, in minutes, you can do something that would have taken maybe an hour or more.”

    Previously, Bard had been able to help with tasks like writing essay drafts or planning a friend’s baby shower based on Google’s large language model, an AI algorithm trained on vast troves of data. But now, Bard will draw on information from Google’s various other services, too. With the new extensions, Bard will now pull information from YouTube, Google Maps, Flights and Hotels by default.

    That will allow users to ask Bard things like”Give me a template for how to write a best man speech and show me YouTube videos about them for inspiration,” or for trip suggestions, complete with driving directions, according to Google. Bard users can opt to disable these extensions at any time.

    Users can also opt in to link their Gmail, Docs and Google Drive to Bard so the tool can help them analyze and manage their personal information. The tool could, for example, help with a query like: “Find the most recent lease agreement from my Drive and check how much the security deposit was,” Google said.

    The company said that users’ personal Google Workspace information will not be used to train Bard or for targeted advertising purposes, and that users can withdraw their permission for the tool to access their information at any time.

    “This is the first step in a fundamentally new capability for Bard – the ability to talk to other apps and services to provide more helpful responses,” Google said of the extensions tool. It added that, “this is a very young area of AI,” that it will continue to improve based on user feedback.

    Bard is also launching a “double check” button that will allow users to evaluate the accuracy of its responses. When a user clicks the button, certain segments of Bard’s response will be highlighted to show where Google Search results either confirm or differ from what the chatbot said. The double check feature is designed to counter a common AI issue called “hallucinations,” where an AI tool confidently makes a statement that sounds real, but isn’t actually based in fact.

    “We’re constantly working on reducing those hallucinations in Bard,” Hsiao said. But in the meantime, the company wanted to create a way to address them. “You can kind of think of it as spell check, but double checking the facts.”

    Bard will now also allow one user to share a conversation with the chatbot with another person, who can then expand on the chat themselves.

    It’s still early days for Bard, which launched in March as an “experiment” and still notes on its website that the tool “may display inaccurate or offensive information that doesn’t represent Google’s views.” But this latest update offers a glimpse at how Google may ultimately seek to incorporate generative AI into its various services.

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  • Apple Watch’s new gesture control feature will have everyone tapping the air | CNN Business

    Apple Watch’s new gesture control feature will have everyone tapping the air | CNN Business

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    CNN
     — 

    You’re about to see people in public tapping two fingers together in the air.

    Over the past few days, I’ve been taking phone calls, playing music and scrolling through widgets on the new Apple Watch Series 9 without ever touching the device. I’ve used it to silence my watch’s alarm in the morning, stop timers and open a notification while carrying too many bags.

    It may sound like a gimmick — and it most certainly feels strange to do it in public — but considering the small size of the Apple Watch screen, the tool offers an effective hands-free way to interact with the device.

    Apple’s latest lineup of smartwatches, the Watch Series 9 and high-end Ultra 2, feature a new gesture tool called Double Tap, allowing users to tap their index finger and thumb together twice, to control the device. It can also scroll through widgets, much like turning the digital crown.

    The feature isn’t entirely new; the previous generation of Apple Watch Ultra was capable of similar pinch-and-clench gestures via its Assistive Touch accessibility tool. But Apple’s decision to bring a feature like this to the forefront hints at an increasingly touch-free future. It also comes three months after the company unveiled the Vision Pro mixed reality headset, which will launch next year, with a similar finger tap control.

    Double Tap works in combination with the latest Apple Watch accelerometer, gyroscope and optical heart rate sensor, which looks for disruptions in the blood flow when the fingers are pressed together. That data is processed by a new machine learning algorithm and runs on a faster neural engine, specialized hardware that handles AI and machine learning tasks.

    While the concept is similar, gesture controls are different on the Vision Pro, which will track users’ eyes and hand movements. Apple told CNN it added gesture control to the headset because it needed a different, seamless interface for users to interact with, whereas Double Tap is more about simplifying the Apple Watch experience.

    When the Apple Watch’s display is turned on, the device automatically knows to respond when it senses the fingers are touched together. It essentially works as a “yes” or “accept” button; that means if a call comes through, you can Double Tap to accept it (covering the watch with your full hand, however, will silence it quickly). If a song is playing, you can pause it by double tapping, and then again to start it.

    Although you can subtly flick on the display and do the gesture close to your body, trying to conceal the movement when around other people, I found it works much better when it’s raised a bit higher. This, however, makes the action more obvious — and it’s something that will take a little getting used to seeing in person.

    “This is also about social acceptance. At the moment, I find the idea of people making this gesture more often than not in public a bit funny. But time will tell if users find it acceptable,” said Annette Zimmerman, an analyst at Gartner Research. “I think Apple is very use-case driven and focuses on user feedback on things they could improve.”

    Similarly, it took a while for people to get used to the design of Apple’s AirPods when they were announced in 2016; many criticized how they looked dangling out of users’ ears. Now they’ve become part of modern culture.

    Other learning curves exist with the Double Tap feature. Because I am right handed and wear an Apple Watch on my left hand, tapping my left fingers together to trigger the control takes an extra second or two of mental coordination.

    The future of hands-free devices

    The new Apple Watch Series 9 can be controlled by tapping two fingers together.

    Apple isn’t the only tech company developing gesture controls like this. Samsung TVs, some smartphones and Microsoft’s mixed reality headset all incorporate some hand gesture functionality. But this is Apple’s biggest push to date, and adding it to a flagship device like the Apple Watch will soon put all eyes on the concept of hand gestures.

    “It’s a great move by Apple as it differentiates the company from other brands when it comes to innovation and ease of usability. It also shows Apple’s commitment in the fields of artificial intelligence,” said Sachin Mehta, senior analyst at tech intelligence firm ABI Research. “The new double tap gesture is not a surprise as Apple keeps on developing a unified and intuitive user experience across its product line up. It will cement the Apple Watch as the smartwatch to have.”

    It works differently on the Vision Pro, which will track a user’s eyes and hand movements to make punching and swiping controls. The headset needed a different user interface for users to interact with it, and gestures give that control even when a face is covered by the hardware.

    Further showing how Apple is thinking about gesture control long term, it recently filed for patents focused on gesture controls, including for the Apple TV. That said, Mehta believes there’s no question “we expect more gesture features in Apple’s product lineup in the future.”

    In addition to Double Tap, the Apple Watch Series 9 features Apple’s powerful new in-house silicon chip and ultrawideband connectivity. It will let users log health data with their voice, use “name drop” to share contact information by touching another Apple Watch and raise their wrist to automatically brighten the display. The Series 9 will come in colors such as pink, navy, red, gold, silver and graphite.

    Apple also showed off the second iteration of its rugged Ultra smartwatch line, featuring the updated S9 custom chip and a new ultrawideband chip which uses radio waves to communicate. It also features more information on the display for more intensive tracking.

    The Apple Watch Series 9 will start at $399 and the Ultra is priced at $799. Although they start shipping on Friday, September 22, the Double Tap feature will launch via a software update next month.

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  • New York AG accuses crypto firms of deceiving investors in $1 billion fraud | CNN Business

    New York AG accuses crypto firms of deceiving investors in $1 billion fraud | CNN Business

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    CNN
     — 

    The fallout from the colossal implosion of Sam Bankman-Fried’s crypto business is still rippling through the digital asset industry nearly a year later.

    On Thursday, New York’s attorney general filed a lawsuit against three digital asset firms that were caught up in the collapse of Bankman-Fried’s empire last fall — Gemini Trust, Genesis Global Capital and Digital Currency Group, parent company of Genesis. The lawsuit accused the companies of lying to investors and covering up more than $1 billion in losses.

    The AG’s office said that an investigation found Gemini, the crypto firm founded by Cameron and Tyler Winklevoss, deceived investors about significant risks associated with a lending service it ran jointly with Genesis. The program, called Gemini Earn, marketed itself as a low-risk investment in which customers could lend crypto assets to Genesis while earning interest payments as high as 8%.

    “These cryptocurrency companies lied to investors,” Attorney General Letitia James said in a statement. “And it was middle-class investors who suffered as a result.” At least 29,000 New Yorkers were among the 230,000 investors whose money was lost, James said.

    James’ lawsuit is the latest effort among US officials to crack down on the trillion-dollar crypto industry, which for years has operated in the shadows of traditional financial regulation. Crypto advocates argue that regulators have dragged their feet in establishing guidelines for digital assets, which they believe are distinct from traditional securities like stocks or bonds.

    In the immediate aftermath of the FTX crash, Genesis froze customer redemptions in its lending unit, citing market turmoil. The lending unit later filed for bankruptcy.

    According to the latest lawsuit, Gemini knew that Genesis’ loans were risky and, at one point, “highly concentrated” with Bankman-Fried’s crypto trading house Alameda Research. Bankman-Fried is currently on trial in federal court in New York, where he has pleaded not guilty to seven counts of fraud and conspiracy.

    “Gemini hid the risks of investing with Genesis, and Genesis lied to the public about its losses,” James said.

    The lawsuit also names former Genesis CEO Soichiro “Michael” Moro and Digital Currency Group CEO Barry Silbert.

    Gemini’s owners, the Winklevoss twins, have said Genesis owed more than $900 million to some 340,000 customers using the Earn program.

    The AG’s lawsuit follows another civil action brought by the Securities and Exchange Commission, which in January sued Genesis and Gemini for offering unregistered securities through the Earn product.

    Gemini responded to the latest suit Thursday with a statement on X (formerly Twitter), claiming that Gemini itself was the victim of a “massive fraud.”

    “The NY AG’s lawsuit confirms what we’ve been saying all along” — that Gemini, its customers and other creditors were lied to about Genesis’ finances. But the company said it “wholly” disagrees with the lawsuit.

    “Blaming a victim for being defrauded and lied to makes no sense and we look forward to defending ourselves against this inconsistent position.”

    A Genesis spokesperson said that “while there is no basis for the NYAG’s claims against Genesis, we have been cooperating with all authorities and intend to continue doing so.”

    “Genesis has not violated the law and continues to focus on maximizing recoveries for creditors in its Chapter 11 cases,” the spokesperson added.

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  • 21 US service members suffered minor injuries in recent drone attacks, Pentagon says | CNN Politics

    21 US service members suffered minor injuries in recent drone attacks, Pentagon says | CNN Politics

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    CNN
     — 

    A total of 21 US service members reported “minor injuries” as a result of drone and rocket attacks on coalition military bases in Iraq and Syria last week, according to the Pentagon.

    “Between Oct. 17-18 (ET), 21 US personnel received minor injuries due to drone attacks at Al Assad Airbase, Iraq, and Al-Tanf Garrison, Syria,” Pentagon spokesman Brig. Gen. Patrick Ryder said Wednesday. “All members returned to duty.”

    Defense officials told CNN earlier Wednesday that while all of the personnel have since returned to duty, several continue to be monitored for any additional side effects or injuries. The number of injured personnel has risen as more US troops have reported symptoms in the days following the attacks.

    “It is important to note, in some cases, service members may report injuries such as (traumatic brain injury) several days after attacks occur, so numbers may change. We will continue to work closely with US Central Command to provide updates as appropriate,” Ryder said.

    CNN previously reported that multiple troops sustained minor injuries from the attacks, though the exact number was unclear.

    Ryder said Tuesday that US and coalition forces have been attacked at least 10 separate times in Iraq, and three separate times in Syria since October 17, via a mix of one-way attack drones and rockets. US officials have attributed the attacks to Iranian proxy groups operating in the region and have warned of a potential for significant escalation by these groups in the near term.

    NBC News was first to report the number of minor injuries in Syria and Iraq.

    Officials told CNN earlier this week that at this point, Iran appears to be encouraging the groups rather than explicitly directing them. One official said Iran is providing guidance to the militia groups that they will not be punished – by not getting resupplied with weaponry, for example – if they continue to attack US or Israeli targets.

    The attacks have ramped up amid the US’ support for Israel in its war against Hamas and intensified following a hospital blast in Gaza that Palestinian militants and Israel have blamed on each other. US intelligence officials said on Tuesday that the explosion happened when a rocket launched by a Palestinian militant group broke apart in midair and the warhead fell on the hospital.

    Iran supports a number of proxy militia groups in countries across the region through the IRGC-Quds Force, and Tehran does not always exert perfect command and control over these groups. How willing those groups are to act independently is a “persistent intelligence gap,” noted one source.

    But a senior defense official said the US believes that the proxies are being funded, armed, equipped and trained by Iran, and the US therefore holds Tehran responsible for their actions.

    Officials across the administration have reiterated in recent days that the US is preparing for a potential escalation, preparing both defense and offensive capabilities should it become necessary to respond.

    The US has around 2,500 troops in Iraq and around 900 in Syria as part of the anti-ISIS coalition, and Secretary of Defense Lloyd Austin said in a statement last weekend that he was deploying additional air defense systems to the region in response to the attacks, including a Terminal High Altitude Area Defense missile system and additional Patriot batteries.

    Iran warned on Sunday that the situation could escalate. In a conference with his South African counterpart Naledi Pandor in Tehran, Iran’s Foreign Minister Hossein Amir-Abdollahian said that the Middle East is like a “powder keg,” according to quotes published by state-aligned Tasnim news.

    “Any miscalculation in continuing genocide and forced displacement can have serious and bitter consequences, both in the region and for the warmongers,” Abdollahian said, referring to the US and Israel.

    The Iranian foreign minister also warned the US and Israel that “if crimes against humanity do not stop immediately, there is the possibility at any moment that the region will go out of control.”

    CORRECTION: This headline and story have been corrected to reflect an updated statement from the Pentagon on the number of US service members injured in recent drone attacks.

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  • Threads user count falls to new lows, highlighting retention challenges | CNN Business

    Threads user count falls to new lows, highlighting retention challenges | CNN Business

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    Washington, DC
    CNN
     — 

    Threads, Meta’s Twitter rival, is struggling to retain users roughly a month after its highly publicized launch, according to fresh industry estimates showing that app engagement has fallen to new lows.

    The data from market research firms Similarweb and Sensor Tower highlight the challenges facing Meta as it seeks to exploit the opening created by the chaos surrounding Twitter’s management.

    Threads’ daily active user count is down 82% from launch as of July 31, according to Sensor Tower, with just eight million users accessing the app each day. That is the lowest it has been since the day after the app’s release when daily active users peaked at roughly 44 million, Sensor Tower said.

    People are also opening the app less frequently and spending less time there, Sensor Tower added.

    On its launch day, Threads users opened the app an average of 14 times and spent an average of 19 minutes scrolling through it, the company reported. By the end of the month, however, those figures had fallen sharply.

    As of August 1, Threads’ daily average time spent fell to just 2.9 minutes a day, and people spent only 2.6 sessions per day using the app, said Abe Yousef, a senior insights analyst at Sensor Tower.

    Findings from Similarweb showed the same pattern of decline. Threads’ user count peaked at roughly 49 million on July 7, the day after launch, and fell steadily to just over 11 million by July 29, said David Carr, a senior insights manager at Similarweb.

    The steepest drop-off occurred in the two weeks immediately following Threads’ launch. But the new data show how the decline has continued and is ongoing.

    According to Sensor Tower, Threads’ daily active user count is still falling at a rate of roughly 1% per day.

    Speaking on the company’s earnings call last month, Meta CEO Mark Zuckerberg said he was “quite optimistic” about the app.

    “We saw unprecedented growth out of the gate and more importantly we’re seeing more people coming back daily than I’d expected,” he said. “And now, we’re focused on retention and improving the basics. And then after that, we’ll focus on growing the community to the scale we think is possible.”

    Threads launched with only a handful of features and later promised to add in highly requested tools like a reverse-chronological content feed, a desktop version of the app and direct messages.

    On July 10, Zuckerberg announced that more than 100 million people had signed up for Threads, making it one of the fastest-growing apps in history. The company has reportedly looked into adding “retention-driving hooks” that can keep users engaged.

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