GoKawiil
Tech News
Polymarket has reportedly raised $300 million from 1789 Capital, an investment fund with Donald Trump Jr. as a partner, as part of a roughly $1 billion funding round according to the Wall Street Journal. This adds to a prior $200 million investment from the same fund, which has also backed other controversial ventures like the Enhanced Games.
Phil Schiller has reportedly stepped down from running Apple's App Store and product launch events, according to Bloomberg, though Apple has not made a formal announcement. He will remain at the company as an Apple Fellow working on unspecified projects, while App Store oversight returns to Eddy Cue, who led it before Schiller took over in 2015.
According to Bloomberg's Mark Gurman, Apple internally explored a shorter, stubbier Apple Pencil variant designed to magnetically attach to the side of its upcoming foldable iPhone Ultra. The accessory reportedly ran into design problems, including awkward handling and the risk of scratching the phone's delicate inner foldable display. Gurman says the concept is unlikely to be unveiled at Apple's event next month.
According to The Information, the Trump administration is preparing a new export control aimed at closing a loophole that lets Chinese firms tap advanced AI compute through remote servers hosted in Thailand and Singapore, countries not currently bound by China-specific chip restrictions. The Commerce Department could circulate the draft rule to industry groups for feedback as early as September.
The Wall Street Journal reported that Nvidia had frozen some transactions under its two-month-old 'take or pay' AI Compute Partnership after partners objected to Nvidia dictating which customers could lease its GPUs. Nvidia pushed back, saying the program remains active and is simply evolving amid strong demand, without confirming or denying specific paused deals.
Stripe and private equity firm Advent have dropped their pursuit of acquiring PayPal, according to people familiar with the matter cited by Bloomberg. The pair had reportedly offered around $53 billion in July when PayPal shares were depressed, but PayPal rejected the bid and was said to be awaiting a higher offer before the talks collapsed.
Reuters reports Meta spent 2024 developing 'Project OT,' an internal restructuring effort meant to reorganize the company around AI agents overseen by small human 'pods,' with some teams facing headcount cuts of up to 60%. Mark Zuckerberg reportedly shelved or paused a planned second wave of layoffs under the plan, which would have followed the company's earlier 10% workforce reduction this year. Meta confirmed a second plan existed but described the harsher cuts as scenarios under consideration rather than finalized decisions.
Smart ring maker Oura is said to be planning a U.S. IPO as soon as next month, aiming to raise up to $3 billion at a valuation exceeding $16 billion, according to Bloomberg. That figure would nearly double the $10.9 billion valuation the company received in its September Series E round, with existing investors expected to sell a significant portion of shares in the offering.
Bloomberg's Mark Gurman reports that Apple will raise prices by at least $100 on the iPhone 18 Pro and other devices unveiled at its September event, pushing the Pro model to roughly $1,200. The increase is linked to an AI-driven RAM shortage squeezing supply across phones, laptops and consoles, and follows earlier price hikes this summer on select MacBooks, iPads and HomePods.
According to a New York Times report, Netflix is negotiating with Peacock and Fox One to bring their shows and movies onto its platform. It's not yet clear whether Netflix would sell subscriptions to those services directly or simply fold their content into its own app experience.
Business Insider reports that Hugging Face has fielded acquisition interest valuing the AI model-sharing platform at $13 billion or more, nearly triple its $4.5 billion valuation from a 2023 Salesforce Ventures-led round. No buyer has been named and no deal is finalized, but the startup is reportedly consulting banks to weigh potential bids.
Prosecutors in Keelung, Taiwan have indicted nine people, including employees of Nvidia and Super Micro, for allegedly conspiring to illegally export high-end AI servers to China. Officials say the group knowingly circumvented the companies' export compliance procedures for personal profit, raising corporate compliance costs and damaging Taiwan's international standing.