ReportWire

Tag: Software

  • Apple App Store – Top Apps

    Apple App Store – Top Apps

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    Top Free iPhone Apps (US):

    1. Temu: Shop Like a Billionaire, Temu

    2. Max: Stream HBO, TV, & Movies,WarnerMedia Global Digital Services, LLC

    3. CapCut – Video Editor, Bytedance Pte. Ltd

    4. Instagram, Instagram, Inc.

    5. YouTube: Watch, Listen, Stream, Google LLC

    6. TikTok, TikTok Ltd.

    7. WhatsApp Messenger, WhatsApp Inc.

    8. Google Maps, Google LLC

    9. Facebook, Meta Platforms, Inc.

    10. Gmail – Email by Google, Google LLC

    Top Paid iPhone Apps (US):

    1. Minecraft, Mojang

    2. Geometry Dash, RobTop Games AB

    3. Shadowrocket, Shadow Launch Technology Limited

    4. Earn to Die 2, Not Doppler

    5. Heads Up!, Warner Bros.

    6. HotSchedules, HotSchedules

    7. Five Nights at Freddy’s, Clickteam, LLC

    8. Bloons TD 6, Ninja Kiwi

    9. Five Nights at Freddy’s 2, Clickteam, LLC

    10. Papa’s Freezeria To Go!, Flipline Studios

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  • Oracle Extends Rally as Earnings Top Estimates

    Oracle Extends Rally as Earnings Top Estimates

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    Oracle Stock Extends Rally After Earnings Top Estimates

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  • Jump in cloud revenue lifts Oracle’s results, and stock gains after hours

    Jump in cloud revenue lifts Oracle’s results, and stock gains after hours

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    Shares of Oracle Corp. rose after hours Monday after the IT and cloud infrastructure provider reported fiscal fourth-quarter results that topped expectations, helped by a jump in cloud revenue that executives said positioned the company well for the year to come.

    The company reported fourth-quarter net income of $3.32 billion, or $1.19 a share, compared with $3.19 billion, or $1.16 a share, in the same quarter last year. Revenue rose 17% to $13.84 billion, compared with $11.84 billion in the prior-year quarter.

    Excluding stock-based compensation, amortization and other charges, Oracle earned $1.67 a share, compared with $1.54 a year ago.

    Analysts polled by FactSet expected Oracle to report adjusted earnings per share of $1.58, on revenue of $13.74 billion.

    Oracle also declared a quarterly cash dividend of 40 cents a share. Revenue from Oracle’s cloud software and infrastructure services rose 54% during the quarter.

    “So, both of our two strategic cloud businesses are getting bigger — and growing faster,” Chief Executive Safra Catz said in a statement. “That bodes well for another strong year in FY24.”

    Oracle shares
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    +5.99%

    were up 4.8% after hours on Monday. The stock closed regular trading up 5.8% to $116.43, putting it at a record high.

    Prior to the results, analysts were focused on Oracle’s cloud business — which has faced concerns about tighter tech budgets in IT departments as inflation raises concerns about the economy — as well as its AI potential, which has catapulted shares of other tech companies higher. More executives inside and outside of tech, hoping for a similar pop from investors, have been talking about AI on earnings calls more this year.

    Earlier on Monday, Wolfe Research upgraded Oracle, saying its cloud business could double its market share by 2025 “on the backs of architectural advantages, partnerships” and generative AI.

    UBS analysts also said they expected Oracle to highlight its cloud-AI partnership with chip maker Nvidia Corp.
    NVDA,
    +1.84%
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    which analysts say is set to benefit from more AI development. Those expectations were confirmed on Monday, when Oracle management name-checked Nvidia in its earnings release.

    “Nvidia themselves are using our clusters, including one with more than 4,000 GPUs, for their AI infrastructure,” Larry Ellison, Oracle’s co-founder and chief technology officer, said in the release.

    Shares of Oracle have marched 81.7% higher over the past 12 months. The S&P 500 Index
    SPX,
    +0.93%

    has risen 15.7% over that period.

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  • Enjoy Enhanced Security With Microsoft Windows 11 Pro, Now Just $29.99 | Entrepreneur

    Enjoy Enhanced Security With Microsoft Windows 11 Pro, Now Just $29.99 | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    With reports of cyberattacks targeting small businesses on the rise, the good news is that there are ways to beef up your cybersecurity and protect yourself against threats. And one is super simple: upgrade your operating system.

    If you saved money on your computer purchasing a refurbished device, it may not have come with the newest operating system. If you upgrade to Windows 11 Pro, you’ll enjoy enhanced security among other perks, like improved performance and customizable options. And right now, you can enjoy all the benefits of Microsoft Windows 11 Pro for just $29.99 (reg. $199) for a limited time.

    This license to Microsoft Windows 11 Pro is ideal for use in business. And this license provides one activation key that can be used for three different devices, so you can enjoy all the perks of this improved operating system. You’ll enjoy Windows Information Protection, which helps you separate personal and work data, while only allowing authorized apps to access certain data. And you can rest easy knowing Microsoft Information Protection Integration will be protecting your important files from data leaks.

    BitLocker Encryption encrypts your data on the hard drive, so it will be unreadable without the correct decryption key. You’ll also enjoy Windows Hello for Business that gives you management tools for remote deployment like multi-factor authentication, while also supporting certificate-based authentication. You’ll quickly see why Microsoft Windows 11 Pro scored 4 stars on both PC Magazine and TechRadar.

    Enjoy all the perks of Microsoft Windows’ latest operating system, Microsoft Windows 11 Pro, for just $29.99 (reg. $199).

    Prices subject to change.

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  • UiPath Stock Is Flying This Year. Analyst Thinks the Party Is Over.

    UiPath Stock Is Flying This Year. Analyst Thinks the Party Is Over.

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    UiPath Stock Is Flying This Year. Analyst Thinks the Party Is Over.

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  • Any Sufficiently Advanced Technology Is Indistinguishable From Magic

    Any Sufficiently Advanced Technology Is Indistinguishable From Magic

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    Sara Hermellin is an artist based in Paris.

    Read more…

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    Luke Plunkett

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  • Twitter Users React To Elon Musk’s Censorship

    Twitter Users React To Elon Musk’s Censorship

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    Despite portraying himself as a paragon of free speech, Twitter owner Elon Musk has repeatedly given into the requests of powerful autocratic regimes to silence their citizens. The Onion asked Twitter users how they felt about Musk’s censorship, and this is what they said.

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  • The $3,499 Vision Pro headset, iOS 17, and everything else Apple just announced at WWDC

    The $3,499 Vision Pro headset, iOS 17, and everything else Apple just announced at WWDC

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    Apple Inc.’s $3,499 Vision Pro headset stole the show Monday as Apple kicked off its annual WWDC event.

    Chief Executive Tim Cook and other executives showed off the next chapter of Apple
    AAPL,
    -0.76%

    technology — “spatial computing” — during a keynote event that failed to maintain Apple’s record stock price. Shares had been on track to close at an all-time high before the event began, but were trading in the red once the event wrapped.

    While the Vision Pro and its eye-popping price tag was the biggest news from the presentation, Apple also teased forthcoming software enhancements and new Mac computers.

    Here’s everything that was announced Monday.

    The Vision Pro headset

    Apple was widely expected to roll out a mixed-reality headset at Monday’s event, but the announcement still brought a few surprises.

    While Apple was rumored to be planning a price tag in the range of $3,000 for its new Vision Pro headset, the actual price of $3,499 was higher. Also, Apple won’t be selling the device until early next year, later than expected, in a move that means the company will miss the holiday season.

    The company spent ample time during Monday’s presentation showing off what the Vision Pro can do in terms of bringing photographs, movies and everyday web browsing into physical spaces. Though the company discussed some gaming applications, and a partnership with Unity Software Inc.
    U,
    +17.16%
    ,
    executives didn’t dwell on gaming and focused the immersive experience more fully.

    See MarketWatch’s enhanced coverage of the Vision Pro launch here.

    New iPhone software

    Apple’s iPhone software enhancements are typically a focus of WWDC, an event aimed at developers who create apps for that and other Apple platforms. This year’s update — iOS 17 — will feature new ways to share contact information, journal and make use of the iPhone while it’s locked.

    With iOS 17 this fall, Apple users will also be able to set up contact “posters” for themselves, which will appear in full screen when they call others. They’ll be able to see live transcriptions of voice mails so they can determine whether to pick up calls they initially ignored.

    See MarketWatch’s full guide to the new iOS 17 features here.

    Read: Are thousand-dollar iPhones now a necessity? From reactions to Apple earnings, you sure might think so.

    A 15-inch MacBook Air

    Apple is making the MacBook Air bigger with a new 15-inch model that features the company’s M2 chip. This version will start at $1,299 and become officially available next week, though preorders begin today. The device gets 18 hours of battery life, is 11.5-millimeters thin and weighs just over 3 pounds.

    Mac Pro and Mac Studio

    Apple had set out to infuse its personal-computer lineup with custom chips, and the company rounded that out Monday with new Mac Pro and Mac Studio devices that feature Apple Silicon processing. The Mac Studio will start at $1,999, and the Mac Pro will begin at $6,999.

    Don’t miss: AI could give a big boost to profit margins — but there’s one key unknown, Goldman Sachs says

    New iPad software

    Apple will refresh its iPad software as well, with a new custom lock screen, widget enhancements, machine-learning tools that help with PDF editing and better annotation functions for PDFs. Plus, users will be able to at last set multiple timers.

    New Mac software

    Apple plans to upgrade its Mac operating system as well with a new version that will be called Sonoma. A key feature of this update is a redesign of the widgets function, giving users the ability to place widgets on their home screens and see these automatically fade when necessary so they don’t become distracting.

    The new Sonoma operating system will add various tools for web presentations, including a feature that lets people appear as overlays on top of their presentation content and new reaction animations that can show balloons and confetti in response to meeting content.

    Within Safari, family members will be more easily able to share passwords. The company will also let people create separate profiles for home, work, and school use of a Mac.

    Audio and video improvements

    Apple is adding Adaptive Audio to help AirPods users drown out distracting sounds when appropriate. The technology will proactively lower outside volume when someone is on a call and detect when someone is talking to a real-life companion in order to lower music volume for the duration of the conversation.

    Within video, Apple will let people use their phone cameras to engage in FaceTime conversations shown on an Apple TV. The company will also support AirPlay connectivity at hotels.

    Apple Watch software enhancements

    WatchOS 10, the new Apple Watch operating system, will let users retain their aesthetic watch faces but twist the digital crown to see widgets for information like weather, timers and events. The company is also looking to make the Apple Watch more useful for cyclists with advanced tracking features. One part of this allows users to pair an iPhone and see cycling data on the phone’s lock screen, which can be useful for those who dock their phones on a bike while also wearing the watch.

    Watch owners will receive a new hiking app as well, which will let users see elevation data and topographical information.

    Read: Apple could be cooking up 3 more $10 billion-plus businesses, one analyst says

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  • Here are all the new software features coming to Apple’s iPhone this year

    Here are all the new software features coming to Apple’s iPhone this year

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    Users of Apple Inc.’s iPhone will soon be able to more easily screen calls, check-in with loved ones and exchange contact information.

    Apple
    AAPL,
    +0.43%

    executives teased the elements of its forthcoming iOS17 software update at the keynote address of its WWDC event Monday, which also brought the introduction of new Macs.

    Consumers will gain the ability to choose how they come up when they call others through a new “poster” feature. Users will be able to customize posters with photographs and fonts, and have these appear in another person’s contacts app.

    The company is also changing up how calls work by adding a way for people to pick up calls while they’re in the middle of receiving a voice mail. A new on-device live-voicemail feature will show transcripts of a voice mail while it’s in progress, so people can determine that a call isn’t spam or is important enough to stop what they’re doing before they pick it up.

    Users will also gain the ability to leave a message when using FaceTime, Apple’s video-calling app.

    See also: Apple’s stock at all-time highs ahead of WWDC headset reveal

    Within iMessage, Apple will offer the ability for people to share their locations within a conversation and check in with loved ones. People will be able to set up a check-in option that can notify loved ones when they get home and offer alerts about battery, cell service, and location if they end up running late.

    Apple is also enhancing the Stickers feature within iMessage with the ability to create “live stickers” from photos. Further, it’s tucking iMessage apps like Stickers behind a menu so they don’t initially clutter the message screen.

    Within iMessage, Apple will make it easier for people to jump to the top of long group threads and swipe to reply to a given message.

    Apple is introducing a NameDrop feature that lets people share contact information just by tapping their phones together. It’s also augmenting AutoCorrect with in-line predictions that go beyond one word and the ability for people to teach autocorrect their preferences better.

    Read: Apple could be cooking up 3 more $10 billion-plus businesses, one analyst says

    The company is rolling out two new apps, including one for journaling. People will be able to collect photos, music, and written notes into moments. A new StandBy app will turn a locked iPhone into a smart display that users can customize based on their preferences and the time of day.

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  • Is it real or made by AI? Europe wants a label for that as it fights disinformation

    Is it real or made by AI? Europe wants a label for that as it fights disinformation

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    LONDON — The European Union is pushing online platforms like Google and Meta to step up the fight against false information by adding labels to text, photos and other content generated by artificial intelligence, a top official said Monday.

    EU Commission Vice President Vera Jourova said the ability of a new generation of AI chatbots to create complex content and visuals in seconds raises “fresh challenges for the fight against disinformation.”

    Jourova said she asked Google, Meta, Microsoft, TikTok and other tech companies that have signed up to the 27-nation bloc’s voluntary agreement on combating disinformation to dedicate efforts to tackling the AI problem.

    Online platforms that have integrated generative AI into their services, such as Microsoft’s Bing search engine and Google’s Bard chatbot, should build safeguards to prevent “malicious actors” from generating disinformation, Jourova said at a briefing in Brussels.

    Companies offering services that have the potential to spread AI-generated disinformation should roll out technology to “recognize such content and clearly label this to users,” she said.

    Jourova said EU regulations are aimed at protecting free speech, but when it comes to AI, “I don’t see any right for the machines to have the freedom of speech.”

    The swift rise of generative AI technology, which has the capability to produce human-like text, images and video, has amazed many and alarmed others with its potential to transform many aspects of daily life. Europe has taken a lead role in the global movement to regulate artificial intelligence with its AI Act, but the legislation still needs final approval and won’t take effect for several years.

    Officials in the EU, which is bringing in a separate set of rules this year to safeguard people from harmful online content, are worried that they need to act faster to keep up with the rapid development of generative artificial intelligence.

    The voluntary commitments in the disinformation code will soon become legal obligations under the EU’s Digital Services Act, which will force the biggest tech companies by the end of August to better police their platforms to protect users from hate speech, disinformation and other harmful material.

    Jourova said, however, that those companies should start labeling AI-generated content immediately.

    Most of those digital giants are already signed up to the EU code, which requires companies to measure their work on combating disinformation and issue regular reports on their progress.

    Twitter dropped out last month in what appeared to be the latest move by Elon Musk to loosen restrictions at the social media company after he bought it last year.

    The exit drew a stern rebuke, with Jourova calling it a mistake.

    “Twitter has chosen the hard way. They chose confrontation,” she said. “Make no mistake, by leaving the code, Twitter has attracted a lot of attention and its actions and compliance with EU law will be scrutinized vigorously and urgently.”

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  • Palo Alto, Dish Network, C3.ai, EPAM Systems, and More Stock Market Movers

    Palo Alto, Dish Network, C3.ai, EPAM Systems, and More Stock Market Movers

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    These Stocks Are Moving the Most Today: Palo Alto, Dish Network, C3.ai, EPAM Systems, and More

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  • Technical issues cause delays for Spirit, Air Canada

    Technical issues cause delays for Spirit, Air Canada

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    MIRAMAR, Fla. (AP) — Spirit Airlines and Air Canada are dealing with technical issues on Thursday that have delayed some of the airlines’ flights.

    Spirit said in its initial tweet that the technical issue they were dealing with impacted their website, app and airport kiosks. A tweet around noon EDT said that the network issue between third party services had been resolved.

    Nearly 50% of Spirit’s flights were delayed, according to FlightAware.

    “We apologize for any delays and inconvenience, and we’re now working our way back to normal operations,” the Miramar, Florida-based budget airline said.

    Spirit recommended travelers check the status of their flights and arrive early to the airport, cautioning that it expected lines to be longer than usual.

    Air Canada tweeted midday Thursday that it was experiencing an IT issue that was causing flight delays. It later said its operations were stabilizing and flights were departing. The Montreal airline recommended customers check their flight status on its website before heading to the airport.

    FlightAware showed that more than 30% of Air Canada’s flights were delayed.

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  • Salesforce Stock Falls Despite Strong Earnings

    Salesforce Stock Falls Despite Strong Earnings

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    Salesforce Stock Falls Despite Strong Earnings Report

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  • Bank of America ranks the biggest A.I. winners in software stocks. Here are its top picks

    Bank of America ranks the biggest A.I. winners in software stocks. Here are its top picks

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  • A.I. poses human extinction risk on par with nuclear war, Sam Altman and other tech leaders warn

    A.I. poses human extinction risk on par with nuclear war, Sam Altman and other tech leaders warn

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    The Microsoft Bing App is seen running on an iPhone in this photo illustration on 30 May, 2023 in Warsaw, Poland. (Photo by Jaap Arriens/NurPhoto via Getty Images)

    Jaap Arriens | Nurphoto | Getty Images

    Artificial intelligence may lead to human extinction and reducing the risks associated with the technology should be a global priority, industry experts and tech leaders stated in an open letter.

    “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war,” the statement on Tuesday read.

    Sam Altman, CEO of ChatGPT-maker OpenAI, as well as executives from Google‘s AI arm DeepMind and Microsoft were among those who supported and signed the short statement from the Center for AI Safety.

    The technology has gathered pace in recent months after chatbot ChatGPT was released for public use in November and subsequently went viral. In just two months after its launch, it reached 100 million users. ChatGPT has amazed researchers and the general public with its ability to generate humanlike responses to users’ prompts, suggesting that AI could replace jobs and imitate humans.

    The statement Tuesday said that there has been increasing discussion about a “broad spectrum of important and urgent risks from AI.”

    Read more about tech and crypto from CNBC Pro

    But it said it can be “difficult to voice concerns about some of advanced AI’s most severe risks” and had the aim of overcoming this obstacle and opening up the discussions.

    ChatGPT has arguably sparked much more awareness and adoption of AI as major firms around the world have raced to develop rival products and capabilities.

    Altman had admitted in March that he is a “little bit scared” of AI as he worries that authoritarian governments would develop the technology. Other tech leaders such as Tesla’s Elon Musk and former Google CEO Eric Schmidt have cautioned about the risks AI poses to society.

    In an open letter in March, Musk, Apple co-founder Steve Wozniak and several tech leaders urged AI labs to stop training systems to be more powerful than GPT-4 — which is OpenAI’s latest large language model. They also called for a six-month pause on such advanced development.

    “Contemporary AI systems are now becoming human-competitive at general tasks,” said the letter.

    “Should we automate away all the jobs, including the fulfilling ones? Should we develop nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us? Should we risk loss of control of our civilization?” the letter asked.

    Last week, Schmidt also separately warned about the “existential risks” associated with AI as the technology advances.

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  • Nintendo Asks Valve To Kick GameCube And Wii Emulator Off Steam, Says It’s Protecting Its Creativity And Work

    Nintendo Asks Valve To Kick GameCube And Wii Emulator Off Steam, Says It’s Protecting Its Creativity And Work

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    Valve removed the Steam listing for Dolphin, a popular emulator for the GameCube and Wii, after it received a cease and desist from Nintendo, developers behind the project claim. The company behind Mario and Zelda accuses the emulator of illegally circumventing its protections, and says it’s merely protecting the “hard work and creativity of video game engineers and developers.”

    A listing for Dolphin on Valve’s digital storefront first appeared back in March. “We are pleased to announce our great experiment—Dolphin is coming to Steam!” the creators wrote at the time. While the open-source project has been available online for years, interest in retro emulators has increased since the release of the Steam Deck, and an official store page would make the tool even easier to access.

    On May 27, however, Dolphin’s developers announced the Steam port would be “indefinitely postponed” after Valve removed the listing following discussions with Nintendo. “It is with much disappointment that we have to announce that the Dolphin on Steam release has been indefinitely postponed,” the emulator team wrote in an update on the project’s blog. “We were notified by Valve that Nintendo has issued a cease and desist citing the DMCA against Dolphin’s Steam page, and have removed Dolphin from Steam until the matter is settled. We are currently investigating our options and will have a more in-depth response in the near future.”

    According to a copy of the legal notice reviewed by PC Gamer, Nintendo accuses Dolphin of using “cryptographic keys without Nintendo’s authorization and decrypting the ROMs at or immediately before runtime.” While emulation is itself legal, providing users with ways to bypass protections on individual game ROMs could potentially violate Nintendo’s intellectual property rights. It’s an issue that would have to be hashed out in court, though the power imbalance between large corporations and homebrew projects like Dolphin means that rarely actually occurs.

    “Nintendo is committed to protecting the hard work and creativity of video game engineers and developers,” a spokesperson for Nintendo told Kotaku in an email. “This emulator illegally circumvents Nintendo’s protection measures and runs illegal copies of games. Using illegal emulators or illegal copies of games harms development and ultimately stifles innovation. Nintendo respects the intellectual property rights of other companies, and in turn expects others to do the same.”

    While the company has rarely looked the other way when it comes to piracy of its games and the tools that could facilitate it (like mod chips sold online), Nintendo has been particularly aggressive lately in clamping down on leaks and what it believes to be illegal misuses of its games and technology. In February it subpoenaed Discord for the personal information of someone suspected of leaking the official The Legend of Zelda: Tears of the Kingdom art book. In April it issued multiple copyright strikes against dozens of popular Breath of the Wild gameplay videos on YouTube that relied on modded versions of the game. And in May it seemingly had a Switch emulation tool, Lotpick, removed from Github after illicit copies of Tears of the Kingdom began spreading like wildfire online prior to the game’s official release.

    It’s not yet clear how Dolphin’s current developers will respond, or how willing Valve will be to bring the store page back unless the matter is resolved in court, which could take years. Last year, Valve accidentally included the Switch emulator Yuzu in its YouTube trailer for the Steam Deck. The video was later edited and re-uploaded to remove the reference. The company did not immediately respond to a request for comment.

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    Ethan Gach

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  • Ron DeSantis Launches U.S. Presidential Bid In Glitch-Filled Twitter Broadcast

    Ron DeSantis Launches U.S. Presidential Bid In Glitch-Filled Twitter Broadcast

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    Ron DeSantis launched his 2024 presidential campaign in an online Twitter Spaces event with Elon Musk that was marred by 25 minutes of technical glitches where the audio stream crashed repeatedly, making it impossible for most users to hear the new presidential candidate in real time. What do you think?

    “I’m tired of the media trying to silence this man.”

    Zoey Burns, Freelance Plagiarist

    “Twenty-five minutes of no talking was the best launch the DeSantis campaign could hope for.”

    Drew Fanning, Unemployed

    “It’s good to have the superficial appearance of a Trump alternative.”

    Dom Edelstein, Webinar Planner

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  • Nvidia barrels toward rare $1 trillion valuation after putting a dollar figure on AI boost

    Nvidia barrels toward rare $1 trillion valuation after putting a dollar figure on AI boost

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    Nvidia Corp. headed toward market-capitalization gains of nearly $200 billion in after-hours trading Wednesday, which could put the chip maker within sight of becoming only the seventh U.S. company to top a valuation of $1 trillion.

    Nvidia shares
    NVDA,
    -0.49%

    jumped 25% in the extended session Wednesday, after executives predicted that revenue would exceed the company’s record by more than 30% in the current quarter. The audacious forecast arrived as tech companies look to jump on advances in artificial intelligence that are largely powered by Nvidia’s computing gear.

    Nvidia ended Wednesday’s session with a market cap — the total value of all shares in existence — of roughly $754.3 billion, according to FactSet. A 25% increase would add nearly $189 billion to that total, putting the company within striking distance of $1 trillion. Only six U.S. companies have ever attained a $1 trillion market cap: Apple Inc.
    AAPL,
    +0.16%

    and Microsoft Corp.
    MSFT,
    -0.45%

    are currently worth more than $2 trillion apiece; Google parent Alphabet Inc.
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    -1.35%

    and Amazon.com Inc.
    AMZN,
    +1.53%

    have valuation of more than $1 trillion; and Facebook parent Meta Platforms Inc.
    META,
    +1.00%

    and Tesla Inc.
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    -1.54%

    have both touched the $1 trillion plateau previously.

    For more: From U.S. Steel’s $1 billion market cap to Apple’s $1 trillion — a brief history of valuation milestones

    Nvidia’s market cap was ahead of both Meta and Tesla as of Wednesday’s close, with both worth less than $650 billion, showing the potential fleeting nature of such a valuation. Nvidia’s record market cap is $834.4 billion, established on Nov. 29. 2021, according to Dow Jones Market Data.

    If Nvidia’s gains hold through Thursday’s trading session, the company could challenge for the largest one-day market-cap gain in history. The biggest currently on record was Amazon’s $191.2 billion increase on Feb. 4, 2022, according to Dow Jones Market Data, followed closely by a $190.9 billion gain by Apple on Nov. 10, 2022. Nvidia also stands to gain more than rival Advanced Micro Devices Inc.
    AMD,
    +0.14%

    is worth in total — AMD ended Wednesday’s session with a market cap of $174.4 billion.

    Nvidia is closing in on the rare $1 trillion plateau because of huge gains in its stock this year, as hopes and hype about generative AI have flooded the tech sector. After OpenAI debuted its ChatGPT AI offering, and investor Microsoft quickly integrated the chatbot into many of its services, expectations for the technology have exploded.

    Despite the hype, most companies have avoided providing hard figures for revenue gains expected from AI. Nvidia’s fiscal second-quarter forecast — which calls for roughly $11 billion in sales, nearly 33% higher than Nvidia’s previous quarterly record of $8.28 billion — could be seen as the first sign of a wave of fresh spending coursing through the tech sector.

    Other companies have indicated that they will be forced to spend to develop their technology before reaping large financial rewards from it. Microsoft, for example, disclosed to investors last month that capital expenditures are increasing as it builds AI capabilities into its Azure cloud-computing platform — spending that is largely going toward Nvidia.

    Full earnings coverage: Nvidia stock soars toward all-time high as AI push leads executives to predict record revenue

    That is a rather typical path for large jumps in tech spending: Companies that make the necessary hardware see gains before the companies that use that gear can develop offerings that take advantage of it. Other gear makers joined Nvidia in the sharp move higher in after-hours trading Wednesday, including AMD, which gained more than 10%; chip maker Marvell Technology Inc.
    MRVL,
    -1.31%
    ,
    which increased more than 5%; and networking specialist Arista Networks Inc.
    ANET,
    +0.53%
    ,
    which added about 5%.

    Alphabet and Microsoft stocks both increased around 2% in after-hours trading, and software companies that have made AI a core part of their offerings also saw gains. Palantir Technologies Inc.
    PLTR,
    -3.24%

    and C3.ai Inc.
    AI,
    +2.54%

    shares both increased more than 8%, for example.

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  • Swiss gov’t favors compensation for journalistic ‘snippets’ posted by online services

    Swiss gov’t favors compensation for journalistic ‘snippets’ posted by online services

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    Switzerland’s executive branch says it favors changes to copyright law to require large online service providers — including social media platforms and search engines — to pay media companies for use of journalistic content, even small excerpts

    GENEVA — Switzerland’s executive branch says it favors changes to copyright law to require large online service providers — including social media platforms and search engines — to pay media companies for use of their journalistic content, even small excerpts known as “snippets.”

    The Federal Council, Switzerland’s executive body, announced Wednesday that it’s opened a four-month examination of a proposed legal change to improve compensation for journalists and their media companies.

    The government noted the importance of public debate in a democracy, which has now largely moved onto the Internet.

    “The content offered by search engines, social media and multimedia platforms is largely based on journalistic works by traditional publishing media,” a government statement said. Short previews of journalistic content — or “snippets” — are not currently protected under Swiss copyright law.

    It said media companies and journalists don’t receive any remuneration from online service companies that use their work. Setting the rates of any such compensation would have to be worked out between industry players.

    “The Federal Council proposes that large online service providers should be required to remunerate media companies for the use of snippets,” the government said. “For example, if a large search engine shows snippets of newspaper articles in its search results, the online service provider will have to pay remuneration for this in future.

    Only the biggest online services — which draw a number of users annually amounting to least 10 percent of Switzerland’s population — would be required to pay such compensation. Switzerland’s population was about 8.8 million as of the end of last year.

    The Swiss government pointed to changes abroad, including a directive by the European Union — which does not count Switzerland among its 27 member states — that helped media companies defend their interests with regard to online services.

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  • Montana is banning TikTok. But can the state enforce the law and fend off lawsuits?

    Montana is banning TikTok. But can the state enforce the law and fend off lawsuits?

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    NEW YORK — TikTok is challenging Montana’s first-of-its kind law that makes it illegal for people to use the social media app in the state. It’s the second lawsuit since the ban was adopted.

    Montana Republican Gov. Greg Gianforte signed the law Wednesday expecting a legal fight. The law, scheduled to take effect Jan. 1, 2024, also faces questions over whether it can be enforced.

    Five TikTok users sued the state last week saying the law is unconstitutional. TikTok made similar arguments in its lawsuit Monday in federal court in Missoula.

    Montana’s rules are more far-reaching than restrictions on TikTok in place elsewhere, which include bans on government-issued devices in nearly half the states and within the U.S. federal government.

    There are 200,000 TikTok users in Montana and 6,000 businesses that use the video-sharing platform, according to company spokesperson Jamal Brown.

    Here’s what you need to know:

    WHY IS MONTANA BANNING TIKTOK?

    Proponents of the law in Montana claim the Chinese government could harvest U.S. user data from TikTok and use the platform to push pro-Beijing misinformation or messages to the public.

    That mirrors arguments made by a bipartisan group of lawmakers in the U.S. Senate, as well as the heads of the FBI and the CIA, all of whom have said TikTok could pose a national security threat because its Beijing-based parent company ByteDance operates under Chinese law.

    Critics have pointed to China’s 2017 national intelligence law that compels companies to cooperate with the country’s governments for state intelligence work. Another Chinese law, implemented in 2014, has similar mandates.

    TikTok says it has never been asked to hand over its data, and it wouldn’t do so if asked.

    WHAT DOES TIKTOK ARGUE IN THE LEGAL CHALLENGE?

    The lawsuit filed Monday by TikTok, which is owned by Chinese tech company ByteDance, says the new law violates the Constitution’s right to free speech. It says the law is based on unfounded speculation that the Chinese government could access users’ data.

    “The state cites nothing to support these allegations,” the company’s attorneys wrote. “The state’s bare speculation ignores the reality that (TikTok) has not shared, and would not share, U.S. user date with the Chinese government.”

    Emily Flower, spokesperson for the Montana Department of Justice, said the legal challenges were expected. She said the Chinese Communist Party was using TikTok as a tool to spy on Americans by “collecting personal information, keystrokes, and even the locations of its users.”

    The case could serve as a testing ground for the TikTok-free America many national lawmakers have envisioned.

    HOW DOES MONTANA PLAN TO BAN TIKTOK?

    The law will prohibit downloads of TikTok in the state and fine any “entity” — an app store or TikTok — $10,000 per day for each time someone accesses, downloads or is offered the ability to access TikTok.

    That means Apple and Google, which operate app stores on Apple and Android devices, would be liable for violations. Penalties would not apply to users.

    The statewide ban would be void if the social media platform is sold to a company that is not based in a country designated as a foreign adversary.

    Montana Attorney General Austin Knudsen has pointed to technology used to restrict online sports gambling apps as a way to curtail TikTok from operating in the state. Those violations can be reported by anyone. And once the state verifies a breach has taken place, it sends a cease-and-desist letter to the company involved, said Kyler Nerison, a spokesperson for Knudsen’s office.

    SO, COULD THE TIKTOK BAN WORK?

    Cybersecurity experts say that, other than avoiding the fine, there’s nothing incentivizing the companies involved to comply and it will be extremely difficult — if not impossible — to adequately enforce the law.

    The U.S. doesn’t have anything equivalent to the type of control countries like China have on what their citizens access on the web. Compounding that, internet service providers are out of the picture.

    Before the Montana law passed, lawmakers rewrote portions of the bill to let them off the hook after a lobbyist for AT&T said during a February hearing the legislation was “not workable” to put into effect.

    COULD TECH COMPANIES BLOCK IT?

    A representative for TechNet, the trade group that counts the two tech giants as its members, said app stores don’t have the ability to “geofence” apps in different states and it would be impossible to prevent TikTok from being downloaded in Montana. The group has said the responsibility should be on an app to determine where it can operate, not an app store.

    Telecoms analyst Roger Entner, of Recon Analytics, says he believes the app stores could have the capability to enforce the law, but it would be cumbersome to implement and full of loopholes. Apple and Google’s address-linked billing could be bypassed with prepaid cards and IP geolocation easily masked by using a VPN service, which can alter IP addresses and allows users to evade content restrictions, said mobile security expert Will Strafach, the founder of Guardian, which makes a privacy protection app for Apple devices.

    Oded Vanunu, head of products vulnerability research at the cybersecurity firm Check Point, agreed it would be difficult for app stores to isolate a single state from downloading an app. He suggested it would be more feasible for TikTok to comply since it controls the software and can “adjust the settings based on the geographical location or IP addresses” of users.

    COULD TIKTOK BLOCK ITSELF?

    When users allow TikTok to collect their location information, it can track a person to at least 3 square kilometers (1.16 square miles) from their actual location. If that feature is disabled, TikTok can still collect approximate location information – such as the region, city or zip code in which a user may be located – based on device or network information, like an IP address.

    But similar to the app stores, cybersecurity experts note that any enforcement measures the company implements could be easily bypassed with a VPN and efforts to use IP geolocating might lead to other issues.

    David Choffnes with Northeastern University’s Cybersecurity and Privacy Institute said cell providers may use the same types of IP addresses for multiple states, which could mean someone not in Montana could incorrectly be blocked from TikTok.

    ___

    AP Technology Writer Frank Bajak contributed to this report from Boston.

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