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| Welcome to Inside Tech! Here are today's top stories: - Elon Musk plans to charge users a monthly fee for X, formerly Twitter.
- Microsoft leak unveils Xbox future models and plans.
- Instacart raises $660M in IPO.
If you find this newsletter useful, please consider sharing it with your friends and colleagues. Thank you! Beth
p/beth-duckett | |
| 1 | | Elon Musk hinted at making X, formerly Twitter, a paid service during a livestream with Israeli Prime Minister Benjamin Netanyahu. Musk said X could introduce a "small monthly" subscription fee to combat bots on the platform. More: - Musk said a fee could help deter people from creating fake or bot accounts that often spread misinformation, propaganda, and scams.
- He also revealed X's latest stats. He said the platform now has 550 million monthly users who create 100-200 million posts a day, though he didn't disclose the bot-to-authentic user ratio.
- X has been promoting its paid subscription product X Premium, formerly Twitter Blue, which offers the blue badge, editing capabilities, and other features for $8 per month or $84 per year.
Zoom out: - During the conversation with Netanyahu, the main topic was AI technology and its regulation, along with addressing hate speech on X.
- Following weeks of controversy surrounding antisemitic content on X, Netanyahu urged Musk to find a balance between safeguarding free expression and combating hate speech.
- Musk responded by saying he strongly opposes antisemitism and anything that "promotes hate and conflict."
Q: Do you believe a subscription fee could help deter the spread of misinformation, propaganda, and scams on X? Join the conversation here. |     | |
| 2 | | Microsoft plans to release a refreshed Xbox Series X, codenamed "Brooklin," in 2024, according to leaked documents in the FTC vs. Microsoft case. Referred to as the "biggest leak in Xbox history," the documents also reveal Microsoft's plans for a refreshed Xbox Series S and a new controller, both slated for release next year. More: - Over 100 documents, some partially redacted, were unintentionally uploaded on Friday to a court website by Microsoft.
- The files contain emails from corporate executives, including Microsoft Gaming CEO Phil Spencer, and gaming release schedules.
- As per the documents, the refreshed Xbox Series X, codenamed "Brooklin," priced at $499, would lack a disc drive, offer 2TB of storage, reduced power consumption, and feature a USB-C front port with power delivery.
- An upgraded controller, codenamed "Sebille," with gyro support, precision haptic feedback, and a tilt sensor, is set for release in May 2024.
- Additionally, a redesigned Xbox Series S, codenamed "Ellewood," with 1TB storage, and priced at $299, is tentatively scheduled to come out in September 2024
Zoom out: - The documents also reveal Microsoft's plans to deliver "cloud hybrid games" in 2028.
- The plans involve a "next-gen hybrid game platform" that combines a sub-$99 gadget, possibly a handheld, with the xCloud platform for simultaneous gaming.
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| 3 | | Instacart raised $660M in its IPO, pricing 22 million shares at $30 each, the high-end of its range, resulting in an initial market value of around $10B. Instacart's entry on the Nasdaq today witnessed a 43% surge in its shares, resulting in a valuation of over $14B for the grocery delivery app. The offering, following Arm's Nasdaq debut last week, marks a resurgence in the U.S. IPO market after a quiet 2022. 
What happened: Instacart initially aimed for a share price of $26-$28 but later raised it to $28-$30 after chip designer Arm's successful IPO. The $30 per share price resulted in a $10.2B fully diluted valuation, far below Instacart's previous $39B valuation during a 2021 funding round. Instacart's $42 opening price boosted its valuation to approximately $14B. Details: Instacart positions itself as a grocery-tech company, offering advanced services like delivery, in-store technology, advertising, and data solutions to assist food retailers. The San Francisco-based company, founded in 2021, has raised over $2B in venture capital and had been planning to go public in 2022, before shelving the plans due to the downturn. The bigger picture: In the first half of 2023, U.S. IPOs were sluggish compared to previous bull markets, but they have picked up compared to 2022. U.S. IPOs raised $10.1B in the first half of 2023, up 115% over the same period in 2022, and higher than the $8.6B raised during all of 2022. Instacart's IPO, along with Arm's strong debut, might spur more startups to go public. | | | |
| 4 | | Intel will release its "Meteor Lake" next-gen processors for laptops on December 14. The long-awaited CPUs, which are part of Intel's new Core Ultra branding, are the first to use the Intel 4 7-nanometer manufacturing node and AI co-processor. More: - Meteor Lake, Intel's most power-efficient client processor, has so-called heterogeneous computing, up to twice the graphics performance, a "low-power island" for running tasks independently, and integration with Microsoft Windows for intelligent chip control.
- The Meteor Lake architecture will incorporate Intel's first-ever Neural Processing Unit, or NPU, for AI acceleration.
- NPU empowers consumers to run AI programs on their hardware, eliminating the need for third-party cloud services.
- During a demo, an Acer Swift laptop built with a Core Ultra processor ran an AI image generator locally using the NPU.
Zoom out: - Intel is expected to update its Raptor Lake CPUs for desktop PCs later this year.
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| 5 | | A coalition of 18 state attorneys general, led by Virginia, is supporting Montana's attempt to ban TikTok. Montana's Governor, Greg Gianforte, signed a bill in May banning TikTok within the state and requiring mobile app stores to block access for Montana residents. More: - The goal is to shield Montanans' data from the Chinese Communist Party (CCP), given TikTok's Chinese ownership and potential data-sharing obligations under Chinese law, according to Gianforte.
- On Monday, a coalition of state attorneys general, including Georgia, Alaska, Utah, Indiana, Nebraska, Iowa, Kentucky, and South Dakota, expressed support for Montana's ban.
- The attorneys general urged a judge to dismiss legal challenges against the ban from TikTok and its users.
- They argued that TikTok harms children in Montana and intentionally uses deceptive practices to encourage users to share sensitive personal information, which could be "easily accessed" by the CCP.
Zoom out: - TikTok sued in May, claiming Montana's ban violates First Amendment rights for the company and users.
- A hearing on TikTok's preliminary injunction request is slated for October 12.
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| 6 | GE HealthCare, with a $44M grant from the Bill & Melinda Gates Foundation, will develop AI-enhanced ultrasound tools for maternal, fetal, and pediatric care. The grant will expand access to the technology in low- and middle-income countries, ensuring accurate scans by guiding clinicians, even those with limited training. More: - The tool is expected to provide a clearer reading of ultrasound and lunge scans for maternal and fetal care and pediatric lung health.
- The AI technology can also be incorporated into various ultrasound devices, including cost-effective handheld scanners aimed at underserved communities.
- Caption Health, a maker of AI-powered ultrasound guidance technology, will help design the device.
- Caption was acquired by GE HealthCare in February.
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| 7 | | Quick Hits: - Big ideas demand a proven approach to product development. Revelry's process helps dev teams form and deliver 30-40% faster than industry standards.*
- Microsoft's product chief, Panos Panay, is leaving the company, with reports suggesting Amazon is hiring Panay to lead the Alexa and Echo division, according to Bloomberg sources
- Google launched the Fitbit app redesign today, introducing three tabs—Today, Coach, and You—for a more streamlined experience following a beta period.
- Chinese search giant Baidu and chip maker Qualcomm announced a strategic partnership to advance XR and generative AI technologies.
- TikTok is introducing a toolset for users to label posts generated or edited significantly using AI.
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INSIDE TECH LEADERBOARD (7 DAYS) |
 | AI and technology writer | | Beth is the writer of Inside's AI and Tech newsletters, with a career spanning journalism and editing since 2007. She has written for publications including The Arizona Republic, USA Today, and others, and authored a book on the solar industry in 2016. Reach out to her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Eduardo Garcia | |
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