Apple's iOS 18 Release Threatens $400M in App Revenues

TECH BRIEF

Apple's iOS 18 Release Threatens $400M in App Revenues (6 minutes read)

Apple's upcoming iOS 18 is set to integrate features previously available only through third-party apps, potentially affecting $393 million in app revenue and 58 million downloads, according to Appfigures. The term for this, "sherlocking," raises concerns about fair competition and the usage of proprietary data. Categories likely to be "sherlocked" include trail apps, grammar helpers, and password managers, among others. Despite this, apps continuously developing innovative features could still attract users.

Apple Halts High-End Vision Pro 2 Amid Sluggish Sales Reports (3 minutes read)

Apple has reportedly suspended work on the Apple Vision Pro 2, the high-end successor of its headset, due to slowing sales of the current $3,500 device. However the tech giant is still committed to its ""spatial computing"" headset, with plans to release a more affordable product by 2025. This might impact the mixed-reality headset space where high-end devices from companies like Meta and Samsung are expected.

Elon Musk's X Revenue Plunges, Aims to Recover with New Payment Service (4 minutes read)

Documents obtained by Bloomberg reveal how Elon Musk's rebranded social media company, X (formerly Twitter), has been financially struggling since Musk's acquisition in October 2022. X's revenue fell by nearly 40% in the first half of 2023, and the company lost $456 million in the first quarter. Despite losing significant advertising revenue, X plans to offset losses with a new payment service, X Payments, similar to PayPal or Venmo, to boost user engagement. It's worth noting that crypto inclusion is not in X Payments' current blueprint.

Zilch Secures £100M Financing Ahead of Anticipated Public Listing (2 minutes read)

London-based fintech Zilch has secured £100 million in securitised debt financing via Deutsche Bank. The buy-now pay-later (BNPL) firm, valued at $2 billion last October, plans to use this funding to create new products and expand its customer base. CEO Philip Belamant has hinted at a potential IPO within the next year. Zilch currently boasts over four million customers and manages more than ten million payments monthly.

Nvidia Surpasses Microsoft, Becomes World's Most Valuable Company (4 minutes read)

Nvidia has surpassed Microsoft to become the world's most valuable publicly traded company, with a market cap of $3.34 trillion. The surge in the tech firm's value has been spurred by the rise of artificial intelligence (AI), an area where Nvidia boasts an 80% market share for AI chips used in data centres. The company's data centre business grew 427% YoY to $22.6 billion, attributing to 86% of the total sales.

Nintendo Unveils Riveting New Game Lineup for Switch Console (10 minutes read)

The Nintendo Direct livestream announced several new Switch games for 2025, including "Metroid Prime 4: Beyond", "Mario and Luigi: Brothership", and "The Legend of Zelda: Echoes of Wisdom". Introductions included a Zelda-themed Nintendo Switch Lite.

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Shopify Report: Consumers Seeking Value, Businesses Miss Customer Experience Investment Opportunities - The Shopify State of Commerce report revealed decreasing consumer loyalty with customers seeking best deals. Businesses are missing out on opportunities by not investing significantly in customer experience, despite consumers' willingness to be more loyal for value from retailers. The impact of technology, notably AI, in improving customer support is recognized, but investment remains low.

Brex and Stripe Atlas Accelerate Financial Access for Startups - Brex and Stripe Atlas have partnered to give startups quicker banking access post-incorporation. New Stripe Atlas users can now instantly apply for Brex business accounts, additonally, Brex is covering the Stripe Atlas fee for Delaware C-Corp incorporation.

Meta Develops Watermark System for Detecting AI-Generated Audio - Meta's new tool, AudioSeal, can embed watermarks in AI-generated audio, aiding detection of false or misleading content. However, its broad adoption and standardization remain challenges.

ByteDance Unveils Whee, 'Friends-Only' Instagram-like App - TikTok's parent company, ByteDance, has launched Whee, an Instagram-like app, focusing more on privacy and personal sharing within limited circles. Currently available in select locations on Android.

Nvidia to Acquire Software Startup Shoreline for $100 Million - Nvidia Corp. is to acquire Shoreline.io, a software development startup, for approximately $100 million, expanding its foothold in AI technology and automation.

Major Tech Fund to Boost Nvidia Holdings, Cut Apple Exposure - The Technology Select Sector SPDR Fund plans to buy $10 billion of Nvidia shares and reduce Apple exposure, following Nvidia's rise as the world's most valuable company.