The Biden administration announced a new rule on foreign chip equipment exports to China. The new rule, set to be unveiled in September, will increase U.S. authority to halt exports of semiconductor manufacturing equipment from certain foreign countries to Chinese chipmakers. However, shipments from key allies such as Japan, the Netherlands and South Korea will reportedly be exempted, thereby limiting the rule’s impact.
The upcoming presidential election is seeing a significant focus on artificial intelligence (AI) policy, with Kamala Harris and Donald Trump offering contrasting views on AI regulation and safety.
The U.S. Senate is expected to pass a bill that seeks to protect children from harmful online content. This marks the first major effort by Congress in recent years to hold tech companies accountable for the impact of their platforms.
The United Arab Emirates has reportedly put a halt to meetings between Emirati AI firm G42 and U.S. congressional staffers in the wake of concerns over the potential transfer of technology to China.
Earnings Results
Microsoft Corp (NASDAQ:MSFT) reported fourth-quarter revenue of $64.7 billion, up 15% year-over-year. The revenue total beat a Street consensus estimate of $64.36 billion. The company reported earnings per share of $2.95 in the fourth quarter, beating a Street consensus estimate of $2.92.
Meta Platforms Inc. (NASDAQ:META) reported second-quarter revenue of $39.07 billion, beating analyst estimates of $38.31 billion. The company reported second-quarter adjusted earnings of $5.16 per share, beating analyst estimates of $4.73 per share.
Apple Inc. (NASDAQ:AAPL) reported third-quarter earnings that exceeded expectations and revenue that grew year-over-year and came in ahead of the Street forecast.
Social Media & Marketplace
The U.S. Justice Department has leveled accusations against TikTok, alleging that the social media platform has been collecting data on its users’ views on sensitive topics such as gun control, abortion and religion.
Amazon disclosed a shift in consumer preferences towards lower-priced items and everyday essentials, resulting in a drop in average selling prices (ASPs).
Gaming
Read: Xbox At Gamescom 2024: Three Days Of Live Broadcasts
Microsoft’s Activision has released a detailed study examining the effects of skill-based matchmaking (SBMM) in Call of Duty: Modern Warfare 3, revealing that adjusting the algorithm significantly impacts player retention.
Microsoft CEO Satya Nadella said that the company’s gaming platforms have crossed the 500 million monthly active users mark.
Read: Best Deals For PS5, PS4 Games Before PlayStation Sale Ends Aug. 14
Smartphones
Apple unveiled the first set of features for its new artificial intelligence system, Apple Intelligence, in the iOS 18.1 developer beta, ahead of its upcoming Q3 earnings.
Technology
To attract creators and integrate AI into its consumer products, Meta Platforms has introduced a feature that allows users to create custom AI chatbots for their profiles.
Microsoft has reportedly been issuing a warning to millions of Windows 11 users about the significance of data backup.
Artificial Intelligence (AI)
The European Union's groundbreaking AI Act, a legislation aimed at regulating artificial intelligence, officially comes into effect today, bringing significant changes for American tech giants.
OpenAI announced the rollout of its advanced Voice Mode to a select group of ChatGPT Plus users, promising more natural, real-time conversations and emotional responsiveness.
Meta CEO Mark Zuckerberg said that his company’s $405 billion model, Llama 3.1, has “better cost performance” compared to leading closed models, possibly referring to OpenAI’s ChatGPT.
Meta Platforms has been criticized for its AI assistant’s false denial of the attempted assassination on Trump. However, now the company has finally addressed the issue.
Image created using artificial intelligence via Midjourney.
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