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| 1 | | Apple announced a new multibillion-dollar deal with Broadcom to build components for 5G and other wireless connectivity from U.S. factories. The exact value of the agreement was not revealed. It comes after Apple made a 2021 commitment to invest $430B in the U.S. economy over five years. More: - Apple has extended its chip-supply agreement with Broadcom to develop 5G radio frequency and other wireless-connectivity components, with production taking place in U.S. factories, including in Fort Collins, Colo.
- The components, including FBAR filters, will be different from the 5G modems supplied to Apple by Qualcomm.
- According to the WSJ, the agreement is anticipated to continue through 2026 and is projected to exceed a value of $15B.
- Broadcom is already a chief supplier of wireless components to Apple, with about 20% of its revenue coming from the iPhone maker.
Zoom out: - The move comes as Apple has been diversifying its supply chains away from China by increasing production in countries like India, Vietnam, and the U.S.
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| 2 | | The news: Zoom, the video-conferencing company, said it remains optimistic about its future despite a drop in online sign-ups from the pandemic. Its growth has cooled as offices reopen and it faces more competition from Microsoft's Teams, Salesforce's Slack, and others. By the numbers: In the three months through April 30, Zoom posted a 3% increase in total revenue compared to the year-ago quarter, a deceleration from its growth during lockdowns. Despite the slowdown, Zoom has still raised its full-year revenue and profit forecasts. It reported better-than-expected results for its fiscal first quarter, which CEO Eric Yuan attributed to stabilizing online revenue, improved business efficiencies, and growth in its enterprise side. Why it matters: Zoom is betting on achieved stability in its online segment and popularity among enterprise customers, which account for 57% of total revenue that was up 13% year-over-year. Even so, concerns remain about the limits of Zoom's growth as large companies reduce spending and the company deals with a disruption in sales after recently laying off 1,300 employees. 
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| 3 | | Stock image service Shutterstock has agreed to acquire Giphy from Meta Platforms for $53M, representing a more than $260M loss for the Facebook parent. The deal comes after the U.K.'s competition regulator ordered Meta to sell Giphy, the online animated images library the company bought for an estimated $315M to $400M in 2020. More: - The deal was deemed to restrict competition, potentially benefiting Meta and hindering rivals like Snapchat.
- The U.K.'s regulator said Meta could strengthen its market power by restricting gif supply to competitors.
- As a result, Meta agreed to divest all of Giphy's global operations.
- Shutterstock's acquisition, scheduled to finalize in June, will be financed using available cash and the company's revolving credit facility.
- Despite the sale, Meta will continue to have access to Giphy's library for its products, including Facebook and Instagram.
What it means: - With Giphy's approximately 1.7 billion daily users, the deal is expected to grant Shutterstock access to a massive user base.
- Shutterstock users may see Giphy's animated images (GIFs) and web-based stickers playing a more prominent role in the stock content marketplace.
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| 4 | | TikTok has filed a federal lawsuit against Montana, challenging the state's recent ban of the video platform. The company argues that the ban, set to take effect on Jan. 1, violates First Amendment rights and is preempted by federal law. It follows a similar suit recently filed by a group of TikTok content creators. More: - Montana became the first state to ban TikTok last week, citing concerns about data security and alleged ties between parent company ByteDance and Beijing.
- The law will prohibit TikTok app downloads and operations within the state. It imposes fines of up to $10,000 per day for violations on app stores and TikTok, but not on users.
- In its legal challenge, TikTok claims that the law unfairly targets the company and is rooted in baseless speculation about the Chinese government's alleged data access.
- The complaint claims the ban interferes with matters under federal jurisdiction and infringes upon the U.S. Constitution's Commerce Clause.
- TikTok is seeking a court order to invalidate and prevent the ban's enforcement, which is likely to delay the law from taking effect.
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| 5 | | Microsoft is integrating Bing as the default search engine for OpenAI's ChatGPT service. The update means ChatGPT can leverage Bing's search engine and web data to provide more up-to-date answers, along with citations. More: - Microsoft made the announcement at its Build developer conference, saying that Bing integration is now available for ChatGPT Plus users and will soon roll out to free users through a plugin.
- While Microsoft has already incorporated OpenAI technology into Bing and other products, the update brings Bing into OpenAI's ecosystem.
- Microsoft is also integrating GPT-based Bing into Windows 11, enabling users to modify settings and more with a new "Windows Copilot" directly from the taskbar. That feature will launch in June.
Zoom out: - The moves aim to bolster Microsoft's competition with Google in the AI search market.
- Google previously introduced its own experimental search chatbot, Bard, which also has internet access to reference up-to-date information and current events.
Source: Microsoft | | | |
| 6 | | Blizzard Entertainment, the game studio behind popular titles like World of Warcraft and Diablo, has created an internal AI tool that generates images and concept art for new video games. Allen Adham, Blizzard's chief design officer, shared the development with employees via an email obtained by the New York Times. More: - The tool, called Blizzard Diffusion, takes inspiration from Stable Diffusion, a well-known text-to-image generator.
- Adham's email expressed anticipation, telling employees to, "Prepare to be amazed." He emphasized that this tool represents a significant advancement in how they develop and manage their games.
- The tool has been trained on Blizzard's intellectual property, incorporating elements from games like World of Warcraft, Diablo, and Overwatch.
- In related news, Blizzard recently filed a patent application for AI technology designed to generate artwork specifically for video games.
Zoom out: - The adoption of AI technology in gaming studios has been a topic of debate. While proponents argue that it can eliminate tedious design and development tasks, there are concerns among developers that it could potentially replace many jobs.
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- Samsung has unveiled a new Sensor OLED panel with full-screen fingerprint recognition and two-finger health monitoring, including heart rate and blood pressure.
- Apple will hold its online developers' conference from June 5 to June 9, showcasing new software updates and potentially its AR headset.
- Spotify is reportedly working on an AI tool that would use the voices of podcast hosts for targeted advertisements, according to Bill Simmons, founder of Spotify-owned podcast network The Ringer.
- According to a Reuters report, Binance allegedly combined its revenue with customer funds in a U.S. bank during 2020 and 2021, though the cryptocurrency exchange has denied the accusation.
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 | AI and technology writer | | Beth is a writer and editor at Inside.com covering artificial intelligence and daily technology news. She has written the Inside AI newsletter since 2019. You can reach her at Beth.Duckett@inside.com. | | This newsletter was edited by Eduardo Garcia | |
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