Tim Cook, the Apple CEO, announced a series of generative artificial intelligence products and services on Monday during his keynote speech at the company’s annual developer conference, WWDC.The new tools mark a major shift toward AI for Apple, which has seen slowing global sales over the past year and integrated fewer AI features into its consumer-facing products than competitors.“It has to understand you and be grounded in your personal context like your routine, your relationships, your communications, a ...

Core Viewpoint - Tesla's shares have declined by 28% this year, with warnings of slower growth due to falling sales in China and a product recall, yet the company is pushing for a record-breaking $56 billion pay package for CEO Elon Musk, which is not tied to current or future performance [1][2][4] Group 1: CEO Compensation - Elon Musk's pay package, the largest ever for a US-listed company, was granted in 2018 based on ambitious targets for stock value, revenue, and profitability, all of which were met by 2022 [1][2] - A Delaware court recently voided Musk's pay arrangement, labeling it "an unfathomable sum" and questioning its necessity for retaining him as CEO [2] - Tesla is urging shareholders to re-approve Musk's pay, framing the vote as a referendum on the company's current state and Musk's leadership [2][3] Group 2: Shareholder Sentiment - Tesla's chair, Robyn Denholm, emphasized that Musk has not been compensated for his contributions over the past six years, arguing that the court ruling was unfair and inconsistent with shareholder wishes [2][3] - Analysts predict that Tesla will likely secure approval for Musk's remuneration, although not by a wide margin, as many shareholders recognize Musk as the company's biggest asset [4] - Two major proxy advisory firms have opposed Musk's pay, describing it as excessive, which has led to backlash from Tesla [4] Group 3: Future Implications - The vote on Musk's pay will also test the influence of proxy advisers over Tesla, which has a strong base of loyal supporters [4] - Musk has launched a campaign to secure support for the pay package, warning that future growth is at stake [5] - Despite potential approval, challenges from shareholders opposing Musk's pay deal are expected to continue [6]

Core Viewpoint - The chair of Tesla, Robyn Denholm, has indicated that Elon Musk may step back from the company if shareholders do not support his $56 billion pay package, emphasizing that the vote is not solely about money as Musk remains one of the wealthiest individuals globally [1][3]. Group 1: Shareholder Vote and Compensation Package - The upcoming vote on Musk's pay package is set for June 13, and it is the largest remuneration deal in US corporate history [1]. - Denholm stated that the purpose of the 2018 deal was to keep Musk focused on Tesla and motivated to achieve the company's ambitious goals [3]. - The compensation package includes stock options that require Musk to wait five years before selling any shares received [3]. Group 2: Musk's Other Interests and Investor Concerns - Musk has various business interests, including SpaceX, xAI, and X (formerly Twitter), which have raised concerns among Tesla investors regarding his focus on the electric carmaker [2]. - Some institutional investors, like Ross Gerber, have expressed that Musk's behavior on X has negatively impacted the Tesla brand [2]. Group 3: Voting Dynamics and Legal Considerations - Musk owns approximately 13% of Tesla, but his shares will not count towards the vote, which must be a majority of Tesla stock not owned by him or his brother Kimbal [6]. - Denholm has also requested shareholders to approve moving Tesla's legal base from Delaware to Texas, citing better growth and innovation opportunities in Texas [6]. Group 4: Analyst Perspectives - Analyst Dan Ives from Wedbush Securities believes that Musk is unlikely to leave Tesla entirely but may reduce his involvement if the compensation package is rejected [7].

Google will begin to delete everything it knows about users’ previously visited locations, the company has said, a year after it committed to reducing the amount of personal data it stores about users.The company’s “timeline” feature – previously known as Location History – will still work for those who choose to use it, letting them scroll back through potentially decades of travel history to check where they were at a specific time.But all the data required to make the feature work will be saved locally, ...

Shares of Nvidia rallied to record highs on Wednesday, with the artificial-intelligence chipmaker’s stock market valuation hitting the $3tn mark and overtaking Apple to become the world’s second most valuable company.The chipmaker’s stock was up 5.16% at $1,224.40, giving Nvidia a market value of $3.01tn at market close. Apple’s market capitalization was at $3.00tn at market close as its stock climbed 0.78%.The latest rally for Nvidia comes as it prepares to split its stock 10-for-one, effective on 7 June, ...

A group of current and former employees at prominent artificial intelligence companies issued an open letter on Tuesday that warned of a lack of safety oversight within the industry and called for increased protections for whistleblowers.The letter, which calls for a “right to warn about artificial intelligence”, is one of the most public statements about the dangers of AI from employees within what is generally a secretive industry. Eleven current and former OpenAI workers signed the letter, along with two ...

Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm.The company could lose more than $48bn in market value if losses hold, as it also reported quarterly revenue that was below expectations for the first time since 2006.“Weak bookings in Q1 further test investor patience as the GenAI [generative AI] innovation cycle has yet to inflect top-lin ...

Workers at the first Apple store in the US to have unionized, in Towson, Maryland, have voted to authorize a strike as progress in bargaining for a first contract has stagnated.They could be the first Apple retail store workers to ever go on strike.International Association of Machinists and Aerospace Workers’ (IAM) Coalition of Organized Retail Employees (IAM Core) represents 100 workers at the Apple store who had their union election win certified in May 2022. They are one of two Apple stores in the US to ...

Boeing has violated a settlement that allowed the company to avoid criminal prosecution after two deadly crashes involving its 737 Max aircraft, the US justice department told a federal judge on Tuesday.It is now up to the justice department to decide whether to file charges against the aircraft maker amid increasing scrutiny over the safety of its planes. Prosecutors will tell the court no later than 7 July how they plan to proceed, the justice department said.Boeing reached a $2.5bn settlement with the ju ...

Hundreds of pro-Palestinian protesters chained themselves together in front of the entrance to Google’s annual developer conference on Tuesday in protest of the tech company’s ties to Israeli military projects. Thousands of attendees waiting to enter Google I/O were redirected to another entrance, and the event started on time.Groups including the No Tech for Genocide coalition and other groups from across the Bay Area held a sign reading “Google stop fueling genocide”. They chanted “we won’t stop til Nimbu ...