Jony Ive Confirms New AI Device Venture with OpenAI

TECH BRIEF

S&P 500 Hits Record High Amid Rising Yield and Inflation Worries (10 minutes read)

The S&P 500 set a new record as Wall Street experienced minor gains in a subdued trading session. The focus remains on potential upcoming catalysts such as inflation and GDP data. The Fed's dovish signals did not prevent a rise in the 10-year yield, triggering inflation fears. Economically, an increase in the percentage of SPX stocks trading above their 50-day averages was noted, suggesting broader market participation.

TikTok Rolls Out Expanded Subscription Feature for Creators Globally (2 minutes read)

TikTok is launching an expanded “Subscription” monetization feature in multiple regions, including the US, UK, and Japan, aiming to compete with platforms like Patreon and YouTube. This newly redesigned tool will enable creators to offer exclusive content and other benefits to paying subscribers. It will also provide three tiers of subscription, each with different perks and prices. To qualify, creators must be aged 18 and above, with 10,000 followers and 100,000 video views in the past month.

Cloudflare's New Marketplace: Websites to Monetize AI Bot Scraping (6 minutes read)

Cloudflare has unveiled plans to launch a marketplace for website owners to monetize access for AI bots to scrape their site's content. The new service, part of a broader strategy by the firm's CEO Matthew Prince to offer publishers more control over AI scraping activities, includes a free suite of tools known as AI Audit. The company has said the marketplace, which aims to help small publishers survive in the AI era, will launch within the next year.

Telegram Ups Data Sharing Response to Legal Requests Amid CEO's Charges (4 minutes read)

Telegram CEO, Pavel Durov, announced the messaging app will now furnish user IP addresses and phone numbers to relevant authorities upon receipt of valid legal requests. Following a change in its terms of service, the company will also employ AI and a moderation team to prevent the dissemination of controversial content. This strategy shift comes amid Durov's legal challenges in France.

Jony Ive Confirms New AI Device Venture with OpenAI (2 minutes read)

Ex-Apple design chief Jony Ive confirmed he's collaborating with OpenAI CEO Sam Altman to develop a new device utilising generative AI. The project, funded by Ive and the Emerson Collective, could pull in $1 billion in funding by year's end. Key iPhone contributors Tang Tan and Evans Hankey are part of the 10-person team working at Ive's San Francisco office building. The exact details of the AI product are still being decided.

Anthropic in Talks to Double Valuation, Challenges OpenAI's Dominance (1 minute read)

Anthropic, a significant rival to OpenAI, is in early talks with investors about fundraising that could raise its valuation to nearly $40 billion, roughly double its current value, per an existing investor. The AI firm's revenue primarily comes from selling access to its Claude conversational artificial intelligence system.

AI Services Transform Workflow, Outmoding Traditional Systems-of-Record (2 minutes read)

When sold as services, AI-based products have the potential to redefine internal processes and thus provide startups with a strategic advantage over large incumbents. These changes can make existing systems obsolete, creating an opportunity for startups to replace them. Leveraging service-as-a-software, startups can re-engineer customer work operations, creating a moat if executed successfully.