Consumer Tech News (June 16-June 20): Fed Holds Rates, Trump Eyes Iran Moves, Apple Taps AI, Accenture Shifts Strategy

The Federal Reserve kept its benchmark interest rate unchanged at 4.25%–4.50% for the sixth straight meeting, with Chair Jerome Powell signaling no near-term cuts despite mounting pressure from the White House.

Meanwhile, global uncertainty ticked higher as White House Press Secretary Karoline Leavitt revealed the U.S. remains open to negotiations with Iran, even as President Donald Trump weighs potential military action—promising a decision "within the next two weeks."

Amid these macro headlines, the consumer tech sector pressed on with notable developments.

Also Read: OpenAI And SoftBank's Stargate Considers Major UK Investment To Fuel AI Growth

Earnings Results

Accenture ACN reported quarterly earnings of $3.49 per share, topping the analyst consensus estimate of $3.31.

Accenture announced a strategic overhaul of its growth model, effective September 1, 2025, with a sharpened focus on AI.

Technology

Nvidia Corporation’s NVDA venture capital arm, NVentures, has joined a $650 million funding round for TerraPower, a nuclear energy company founded by Microsoft Corporation MSFT co-founder Bill Gates.

Apple Inc. AAPL is reportedly looking to harness the power of generative artificial intelligence to accelerate the development of the custom chips that power its devices, according to senior executive Johny Srouji.

Texas Instruments Incorporated TXN announced a $60 billion plan to expand U.S.-based semiconductor manufacturing, marking what the company says is the largest investment in foundational chip production in the nation's history.

Alibaba Group Holding Limited BABA cloud unit is set to launch its second data center in South Korea to capitalize on the generative AI frenzy.

Meta Platforms, Inc. META is reportedly in discussions to hire Nat Friedman, former CEO of GitHub, to support its artificial intelligence efforts.

The Trump Organization is entering the wireless industry with plans to launch a smartphone called the “T-1 Phone,” priced at $499 and promoted as being manufactured in the U.S.—a promise experts say may not hold up under scrutiny.

Artificial Intelligence (AI)

Softbank Group Corp SFTBY founder Masayoshi Son is spearheading an alliance with Taiwan Semiconductor Manufacturing Company Ltd. TSM, proposing a $1 trillion industrial complex in Arizona.

OpenAI chief executive Sam Altman says he “didn’t think Elon was going to abuse his power in the government to unfairly compete” but now believes he was wrong after Tesla’s founder allegedly tried to derail OpenAI’s $500 billion “Stargate” data-center deal.

Automobiles

Tesla, Inc. TSLA is reportedly working on a 6-seater variant of the Model Y crossover SUV.

Tesla will shut down production at the Texas Gigafactory, which manufactures the Cybertruck and the Model Y, over the Independence Day weekend.

Ford Motor Company F has recalled more than 197,000 vehicles in the latest recall over an issue affecting the backseat occupants, where they may remain locked inside the vehicle.

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