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Tech brief: Apple Upgrades Siri's AI: Increased Privacy, Enhanced User Experience
+ 6 must-read tech news stories.
Kristoffer Lindström
May 06, 2024
Tech brief
Despite increasing European scrutiny of Chinese technology, a blanket ban over TikTok is unlikely to occur in Europe. Although EU officials have discussed the possibility of a ban, many European leaders oppose the move, with several utilizing the app for political campaigning. Meanwhile, previous rules established in EU legislation dictate platforms like TikTok's responsibilities towards policing illegal content, rather than addressing national security concerns. Nevertheless, TikTok's data handling sparks privacy and security worries, triggering temporary restrictions in some EU countries.
Apple plans to significantly upgrade Siri, Safari, Spotlight Search, and Messages using its new Ajax large language model (LLM). The enhanced AI approach aims to improve these applications by using features like text summarization, document analysis, and advanced search options while also emphasizing user privacy. The forthcoming enhancements are part of a broader strategy to make Apple's built-in apps more competitive against AI-enhanced rival products.
Elon Musk aims to develop a news service using AI engine Grok to summarise "things people are saying on X about news," rather than the news articles themselves. This mechanism, focusing on the public conversation around newsworthy events instead of original news content, will be implemented at X, the company formerly known as Twitter. Critics argue that this could potentially restrict access to original sources and inhibit the discovery of factual information.
CoreWeave, GPU infrastructure provider, increased its valuation to $19 billion post-money after raising $1.1 billion in fresh funding from investors such as Coatue, Fidelity, and Altimeter Capital. Demand for alternative cloud providers such as CoreWeave is surging as they offer low-cost GPU-based solutions for running and training generative AI models, an essential infrastructure given the cost and complexity of installing GPUs.
SVB Capital, the venture capital arm of the bankrupt Silicon Valley Bank (SVB), is ready for auction, with a takeover bid from Brookfield and Sequoia Heritage for $340 million. This offers SVB Capital, which manages $9.8 billion in assets, a path to reorganization and the potential for growth outside the constraints of a public, federally chartered bank. The partnership with Pinegrove Capital Partners is expected to generate new deals and possibly reinstate laid-off employees.
In Q1 2024, Warren Buffett's Berkshire Hathaway sold around 115 million shares, reducing its stake in Apple by 13%. Berkshire's stake in Apple is now worth $135.4 billion, equating to around 790 million shares. Despite the sell-off, Apple remains Berkshire's largest investment and Buffett reassured that unless something dramatic happens, it will continue to be. The reduced stake is said to increase Berkshire's cash for tax purposes.
Despite Apple reporting increased iPhone sales in China, external research points to a decline. The difference may be due to disparate revenue calculation methods. However, China remains crucial for Apple, accounting for 18% of its sales. Despite concerns raised by a reported 8% YoY decline in China's revenue, CEO Tim Cook remains optimistic about the market's potential.
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