Apple Launches iOS 18, iPadOS 18 with Enhanced Customization, App Lock Featurew Post

MARKET

^{Market comment}

SPX Rises Despite Tech Drop, Amid Buzz of Potential Fed Rate Cut 

The S&P 500 rose for the sixth consecutive session despite tech sector struggles resulting from potential weak iPhone demand. With anticipation of the Federal Reserve's first rate cut since 2020, futures trading odds are high for a 50-basis-point cut (63%), but a 25-basis-point cut remains possible (37%).

^{Tech stocks on the move}

Intel Receives $3B Government Funding; Blackstone and Vista Near $8B Smartsheet Acquisition

• Intel shares soared 6.3% after announcing a $3 billion US government funding for its Secure Enclave program.

• Blackstone and Vista Equity Partners approach a purchase deal for Smartsheet, valuing it near $8 billion.

• Apple's new iPhone 16 experiences lower demand than forecasted, provoking a 2.7% fall in shares. QXO shares slumped by 6.7% as Rexel denies their buyout offer due to significant undervaluation.

TECH BRIEF

AI Boom Reshapes Corporate Strategy Amid Increasing Job Demand and Investment Surge (8 minutes read)

AI-related investments have sparked a massive spending boom, as tech companies and investors wager on the technology revolutionizing the global economy. Investments in AI startups amounted to $64.1 billion this year, on their way to reaching 2021's peak. However, while AI has attracted millions of users, profits remain elusive. Tech giants such as Microsoft, Google and Oracle are responding by heavily investing in AI data centers and competing for the best talent. Yet, concerns are growing over whether the returns will justify the investment.

💡 Insight: Despite record investments in AI driven by fear of missing out, immediate profits remain uncertain. Companies risk overextending, echoing past tech bubbles, as they heavily invest in infrastructure and talent without clear paths to monetization.

Microsoft's AI Deal with Vodafone Revolutionizes Office Tools (5 minutes read)

Microsoft has signed a significant deal with Vodafone to use AI assistants for Office, and has introduced new AI tools for Excel and Outlook. With this deal, Vodafone will attain 68,000 licenses for corporate versions of the AI assistants, with expectations of saving around three hours per week per user. These assistants use technology from Microsoft's partner, OpenAI, to improve efficiency in software like Teams, Word, and Outlook. The integration of AI models from OpenAI distinguishes Microsoft’s products from their competitors.

Apple Pay Introduces Affirm Integration Post 'Apple Pay Later' Discontinuation (2 minutes read)

With the discontinuation of 'Apple Pay Later', Apple Pay integrates with the buy-now-pay-later service, Affirm, on iOS 18, enabling eligible users to checkout using this payment option. The feature offers options for biweekly or monthly payments. Users will undergo a quick eligibility check without a credit score impact and can select customised payment plans best suited to them. Affirm's integration aims to offer users more flexibility in their purchase experience while maintaining responsible lending practices.

Intel Bags AWS Contract for AI Chip, Halts German Production (6 minutes read)

Intel CEO, Pat Gelsinger, has secured Amazon as a client for its manufacturing operations, co-investing in a multi-billion-dollar framework to create a custom AI chip. The chip, relying on Intel's 18A process, signifies a crucial win for the company's foundry, validating Gelsinger's strategy to streamline Intel's focus on AI computing. However, expansion plans in Germany and Poland have been put on hold to conserve cash. Despite skepticism, Intel's subsidiary IFS will be eligible for up to $3 billion in US defense funding.

Apple Launches iOS 18, iPadOS 18 with Enhanced Customization, App Lock Feature (41 minutes read)

Apple has launched iOS 18 and iPadOS 18, the latest operating system updates for iPhone and iPad devices, available for free. The updates incorporate new features, such as, Home Screen customization, App Locking, a Passwords App, and Messages Enhancements. Key enhancements include the ability to order apps and add tints to app icons, lock any app with Face ID or Touch ID, Hide notifications and the addition of a new Passwords app. The software can be downloaded on eligible iPhones and iPads over-the-air.