💰 X: Profitability Foreseen by 2024, CEO Reveals

Happy Friday, tech enthusiasts!

It's September 29, and the tech world is buzzing. There is much to catch up on. From X's profitability plans to Epic Games' layoffs and Nord's soaring valuation. Ready for more? Let's dive into today's top headlines.

• X: Profitability by 2024

• Epic Games Cuts 16%, Sells Bandcamp

• Nord Security Valuation at $3bn

• OpenAI & Jony Ive's $1bn AI Venture

• Microsoft's In-House AI vs OpenAI

• Ray-Ban & Meta's Smart Glasses

• and more…

READ TIME: 4.1 MINUTES

Tech Companies

X: Profitability Foreseen by 2024, CEO Reveals (8-minute read)

In a recent announcement, X CEO Linda Yaccarino stated that the company, formerly known as Twitter, is expected to turn a profit by early 2024, a significant claim given its previous profitability struggles. Despite facing criticism over decreased user engagement and financial difficulties, including staff cuts and ongoing lawsuits, Yaccarino revealed that 90% of top advertisers have returned to the platform in the past twelve weeks, adding that user time on X has increased since June.

FTC Reignites Fight Against Microsoft's Activision Acquisition (7-minute read)

The FTC has reignited its quest against Microsoft's acquisition of Activision. Despite a previously unsuccessful legal challenge, the impending October 18 deadline raises doubts about halting the deal. This follows the UK regulator's preliminary approval of the revised merger.

Google Empowers Publishers: Opt Out of AI Training Data (3-minute read)

Google now permits publishers to prevent their content from being utilized as AI training data, enhancing their control over digital information usage.

Epic Games Slashes 16% Workforce, Sells Bandcamp Amid Financial Crisis (3-minute read)

Epic Games announced a reduction of 16% of its workforce, predominantly in non-core development roles, as part of cost-saving measures aimed at achieving financial stability. The company also disclosed plans to sell its music platform, Bandcamp, to Songtradr and spin-off advertising business for SuperAwesome into an independent entity.

Musk vs. Yaccarino: Uncertainty Over Election Integrity Team's Future Revealed (5-minute read)

Contrary to Elon Musk's claim, X's CEO Linda Yaccarino insists the election integrity team is not disbanded but growing, despite reported job cuts.

Apple Battles Epic Games in High Stakes Supreme Court Appeal (5-minute read)

Apple is contesting a ruling in the ongoing 'anti-steering' dispute with Epic Games at the U.S. Supreme Court, seeking to maintain App Store purchase protocols.

Startup Scene

Nord Security's Valuation Doubles to $3bn, Grabs $100mn Boost From Warburg Pincus: IPO in the Future? (5-minute read)

Nord Security has garnered $100 million in funding led by Warburg Pincus, raising its valuation to $3 billion. This positions Nord Security for potential expansion and acquisitions.

AI Corner

OpenAI, Jony Ive Near $1bn AI Gadget Venture: Breakthrough or Bust? (8-minute read)

Former Apple designer Jony Ive, OpenAI's Sam Altman, and Softbank's Masayoshi Son are in ongoing discussions on launching a $1 billion venture to create the "iPhone of artificial intelligence." This initiative aims to build a device that delivers a more intuitive user experience with AI. However, the project involving Ive's design agency, LoveFrom, is in its early stages, and no deal has been reached yet.

Microsoft Plans Lesser-Reliant, Cost-Effective In-House AI to Challenge OpenAI (3-minute read)

To reduce costs, Microsoft is developing a cheaper, less powerful AI model, cutting reliance on OpenAI, and is integrating these models into products like Bing Chat.

Apps & Gadgets

Unveiling Ray-Ban's Meta Smart Glasses: Enabling Text Translation & More (3-minute read)

Ray-Ban's Meta smart glasses, with advanced features like live streaming, will be updated next year to identify landmarks and translate signs, operating primarily through voice commands.

Google's 'At a Glance' Widget Revamps Design Across Devices (8-minute read)

Google's redesigned At a Glance widget, featuring improved design and functionality, is rolling out to various devices and app versions; however, no new AI features have been discovered yet.

Quick Links

EA Yanks Past FIFA Titles Off Shelves Ahead of FC 24 Launch (5-minute read)

EA has removed all prior FIFA games from major platforms before launching its new branded soccer game, EA Sports FC 24. This follows EA's split with FIFA last year and subsequent new partnerships.