Pricing Strategy - Apple is increasing the monthly price of its Apple TV+ streaming service to $12.99, a 30% increase from the previous price of $9.99 [1] - The new price will apply to new customers starting Thursday and will affect current subscribers 30 days after their next renewal date [1] - The yearly subscription rate remains unchanged at $99.99, and the price for the Apple One bundle starting at $19.95 per month is also not changing [1] Historical Context - This price hike is the third increase since the service's launch in 2019, which started at $4.99 per month [2] - In 2023, Apple previously raised the monthly subscription from $6.99 to $9.99 [2] Financial Performance - Apple TV+ is reportedly losing more than $1 billion per year, making it the only unprofitable service in Apple's portfolio [3] - Despite receiving numerous nominations and awards, Apple TV+ has not kept pace with competitors like Netflix, Disney+, and Amazon Prime Video in terms of subscriber count [3] Awards and Recognition - Apple recently achieved a record-breaking 81 Emmy Award nominations, with the series "Severance" being the most-nominated series of the year [4]

The freeze went into effect last week, and it's not clear how long it will last. Meta is still likely working through its reorg, which split its AI unit, Meta Superintelligence Labs, into four new groups: TBD Labs, run by former Scale AI founder Alexandr Wang, and three groups focused on research, product integration, and infrastructure, respectively. Meta confirmed the hiring freeze with The Journal, saying it was "basic organizational planning…after bringing people on board and undertaking yearly budgetin ...

Core Viewpoint - Sony is raising the prices of PlayStation 5 consoles by approximately $50 due to a challenging economic environment, which is linked to tariffs imposed by the U.S. government [2][3]. Price Changes - The new prices for the PlayStation 5 will be $549.99, $499.99 for the Digital Edition, and $749.99 for the Pro version, effective August 21 [2]. - Sony has previously raised prices for PlayStation consoles in Europe, Australia, and New Zealand in April, citing similar economic challenges [3]. Market Context - Other companies in the gaming industry are also adjusting their prices in response to the tariffs. Microsoft announced price increases of $80 to $100 for its consoles and some games [4]. - Nintendo has raised prices for certain accessories related to the new Nintendo Switch 2 but has not increased the console price itself [4].

Core Insights - Meta has signed a $100 million deal with Silicon Ranch to develop a 100-megawatt solar farm in South Carolina, which will power its planned $800 million AI data center expected to begin operations in 2027 [1] - This agreement marks the eighteenth collaboration between Meta and Silicon Ranch, contributing to over $2.5 billion in investments [2] - Meta has added over 2 gigawatts of solar capacity in 2023, with ongoing projects in Ohio, Kansas, and Texas [3] Investment and Development - The solar farm's equipment will primarily be manufactured in the U.S., aligning with domestic production goals [1] - The renewable energy initiatives are part of Meta's strategy to achieve net-zero carbon emissions while also addressing the need for quick deployment of energy solutions to reduce time-to-power for new data centers [4] Industry Trends - The trend among hyperscalers like Meta is to invest in renewable energy sources, particularly solar, due to their cost-effectiveness and rapid deployment capabilities [4]

Core Points - Google will pay $30 million to settle a class action lawsuit regarding violations of children's privacy on YouTube [1] - The lawsuit claims that Google collected data from children under the age of 13, which is illegal under COPPA legislation [1] - Google denies the allegations despite agreeing to the settlement [1] Class Action Details - Up to 45 million people in the U.S. may be eligible for small payments from this class action [2] - The class action includes anyone in the U.S. who watched YouTube while under the age of 13 between July 1, 2013, and April 1, 2020 [2]

Group 1 - Meta is reorganizing its AI division into four new groups, officially announced via an internal memo [1][2] - The new organization will be named Meta Superintelligence Labs (MSL), with a key group called TBD Labs focusing on foundation models like the Llama series [2] - The reorganization is a response to competitive pressures from rivals such as OpenAI, Anthropic, and Google DeepMind, with Mark Zuckerberg personally involved in recruitment efforts [3] Group 2 - Alexandr Wang, founder of Scale AI, has been appointed as Chief AI Officer and will lead TBD Labs [1][2] - The other three groups within MSL will concentrate on research, product integration, and infrastructure [2] - Meta has significantly invested resources into revamping its AI organization to enhance its competitive position in the market [3]

Core Insights - Meta is launching an AI-powered voice translation feature for Facebook and Instagram globally, enabling creators to translate content into multiple languages to reach a wider audience [1][6] - The feature utilizes the creator's own voice for authentic-sounding translations and includes an optional lip sync feature for more natural alignment with lip movements [2][3] Feature Details - Initially, the feature supports translations between English and Spanish, with plans to add more languages in the future [6][12] - Creators with 1,000 or more followers on Facebook and all public Instagram accounts can access this feature [6] - To use the feature, creators can select "Translate your voice with Meta AI" before publishing their reels, with options to include lip syncing [7] User Experience - Creators can preview translations and lip syncs before posting, and can disable these options without affecting the original content [8] - Viewers will see a notice indicating that the reel was translated using Meta AI, and can opt out of seeing translated reels in their settings [8] Insights and Metrics - A new metric in the Insights panel will allow creators to view their content's performance by language, aiding in understanding audience reach through translations [9] - Meta encourages creators to record clearly and with minimal background noise for optimal translation results [10] Additional Features - Facebook creators can upload up to 20 dubbed audio tracks to expand their audience beyond English and Spanish-speaking markets, allowing for translations before and after publishing [11] - The launch of this feature coincides with Meta's restructuring of its AI group to focus on key areas such as research and product development [13]

Core Points - The U.K. has dropped its demand for Apple to provide a "backdoor" to its cloud systems after negotiations with the Trump administration [1][2][3] - The U.K. government's request was aimed at accessing encrypted data of American citizens, which raised concerns about civil liberties [2][4] - Apple initially responded by removing the Advanced Data Protection feature in the U.K. and challenged the backdoor mandate in court [5][9] Group 1 - The U.K. agreed to drop its mandate for Apple to provide a backdoor, ensuring the protection of Americans' private data and civil liberties [2][3] - The legal demand was made under the U.K.'s Investigatory Powers Act 2016, which sparked global outrage from privacy and security experts [4] - Apple has stated it has never built a backdoor or master key for its products and services [9] Group 2 - The backdoor request was part of a months-long negotiation process involving U.S. officials [3] - Apple initially removed the Advanced Data Protection feature for new users in the U.K. and guided existing users to disable it [5] - The case regarding the backdoor mandate was initially secret but later ruled to be held in public [5]

The world's most valuable chipmaker is far from giving up its desire to retain China as a key growth market. Nvidia is apparently putting together a new AI chip meant for sale in China that's half as powerful as its flagship B300 Blackwell GPU, Reuters reported, citing anonymous sources. This new chip, codenamed B30A, would be more powerful than the H20 GPUs the company is currently allowed to sell to China, the report said, though its design will be single-die in nature, unlike the dual-die design used in ...

Figure Technology, a seven-year-old blockchain-based lending company, has filed for an IPO of its Class A common stock on Nasdaq, with Goldman Sachs, Jefferies, and BofA Securities serving as its lead bookrunners. The number of shares on offer and price range have not yet been determined. Figure says in its IPO paperwork that its revenue rose 22.4% to $191 million in the six months ended June 30, and that it reported a profit of $29 million in the same period, compared with a loss of $13 million a year earl ...