| Here's a look at today's Tech briefing: - Cruise paused its entire self-driving car operations after its California permit was revoked.
- Elon Musk plans to turn X into a financial hub, replacing banks.
- Intel's stock soars after earnings signal rebound in PC market.
Thanks for reading! Beth
p/beth-duckett | |
| 1 | | GM-backed Cruise has paused all of its driverless operations across the U.S. The move comes after California's DMV suspended the company's robotaxi permit in the state, saying that its cars "are not safe for public operation." More: - In a statement, the company said it will "proactively pause" its fleet of driverless fleets "to examine our processes, systems, and tools" as it works to regain public trust.
- The company claims that the decision "isn't related to any new on-road incidents."
- Cruise will continue to operate its supervised self-driving vehicles with backup safety drivers.
- Before the pause, Cruise offered driverless robotaxi services in Austin, Phoenix, and Houston, while also conducting autonomous driving tests in Miami, San Francisco, and Dallas.
Zoom out: - Cruise gained approval this summer for 24/7 robotaxi service in San Francisco.
- In an Oct. 2 incident, a pedestrian was hit by another vehicle in the city, leading a Cruise self-driving car to stop and attempt a pullover maneuver while the pedestrian was beneath it.
- The National Highway Traffic Safety Administration launched an investigation into Cruise this month for pedestrian injuries linked to its driverless vehicles.
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| 2 | | Elon Musk wants to turn X, formerly Twitter, into a one-stop financial hub to replace banks by the end of 2024, according to The Verge. Musk shared the idea Thursday during an all-hands call with employees, the audio recording of which was obtained by The Verge. More: - Musk clarified that when he mentions payments, he means "someone's entire financial life."
- This means anything money-related, whether it's cash, securities, or more, he said.
- "So, it's not just like send $20 to my friend," Musk said. "I'm talking about, like, you won't need a bank account."
- X is seeking money transmission licenses across the U.S., with licenses already obtained in nine states, according to The Verge and the Nationwide Mortgage Licensing System.
Zoom out: - Musk has already expressed a desire to turn X into a financial hub, even renaming Twitter after his former online bank X.com, which later merged with PayPal.
- Bringing financial features to the platform could align with Musk's goal of creating an "everything app."
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| 3 | | The U.S. International Trade Commission (ITC) found Apple guilty of patent infringement in its smartwatch's health-tracking feature, putting the company at risk of an import ban on its Apple Watches. On Thursday, the ITC confirmed a judge's ruling from earlier this year that found Apple infringed on Masimo's rights in blood-oxygen-reading technology. More: - Masimo accused Apple of infringing on its light-based pulse oximetry technology.
- Apple began adding a pulse oximetry feature to its watches in 2020.
- On Thursday, the ITC ordered a ban on Apple Watch imports, pending review by President Joe Biden, meaning it won't take effect immediately.
- Biden has 60 days to decide whether to veto or uphold the ruling.
- After the review period, Apple can appeal the ban to the U.S. Court of Appeals for the Federal Circuit.
Zoom out: - In response, an Apple spokesperson claimed that Masimo is misusing the ITC to obstruct a potentially life-saving product for millions of U.S. consumers, all while promoting its watch that imitates Apple's.
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| 4 | | Intel shares soared as much as 13% on Friday, its biggest intraday gain since January 2021, after the chipmaker reported higher-than-expected Q3 earnings and a positive forecast signaling a rebound in the PC market. If the gains hold, Intel could see its market value rise by more than $10B. 
What the numbers show: Intel reported Q3 revenue of $14.16B, surpassing analysts' $13.53B. It was still an 8% decrease from the previous year, marking its seventh consecutive quarter of declining sales. Intel also beat expectations for Q4 revenue and margins, fueled by a healthier PC market and a more competitive product range. The bigger picture: Intel's turnaround, led by CEO Pat Gelsinger, appears to be gaining steam. The company says the PC market, its biggest business, is now past the rough patch caused by a buildup in inventory. Under Gelsinger, Intel is also investing in infrastructure to compete with companies like TSMC in chipmaking. In its foundry industry, manufacturers produce chips for other companies. After securing three unnamed clients for its contract manufacturing unit, Intel plans to add a fourth by year-end, the CEO told Reuters. | | | |
| 5 | Google paid $26.3B in 2021 to retain its default search engine status on web browsers and mobile phones, a company executive revealed during its antitrust trial this week. In the high-stakes trial led by the U.S. Department of Justice, Google was accused of spending over $10B annually to maintain its default search engine status, allegedly harming competition. More: - The numbers were previously a guarded secret, leaving analysts to speculate about Google's spending.
- According to Google search head Prabhakar Raghavan, the company's payments to secure default status on devices like the iPhone have more than tripled since 2014.
- The government has accused Google of funneling billions annually to device makers, wireless providers, and browser companies to secure a 90% market share for its search engine.
- The company's lawyers argue that consumers can uninstall the Google app or use alternatives like Microsoft's Bing.
- U.S. District Judge Amit Mehta, who is overseeing the trial, is expected to issue a verdict early next year.
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| 6 | | AI helped create a new Beatles song, titled "Now and Then," that will be released worldwide on Nov. 2. AI was used to separate the late John Lennon's vocals from an old demo he wrote and recorded in the late 1970s. More: - Lennon recorded the home demo in New York City after the Beatles broke up and before he was murdered in 1980.
- The song was part of a cassette of Lennon's demos that Yoko Ono, his widow, gave to Paul McCartney after his death.
- The new version includes contributions from McCartney, George Harrison, and Ringo Starr. Harrison passed away in 2001 from cancer.
- To create the song, AI technology was applied by Peter Jackson, director of "The Beatles: Get Back" docuseries.
- Specifically, WingNut Films' machine-assisted learning tech helped separate Lennon's voice from a piano, allowing McCartney and Starr to complete the track with clearer vocals last year.
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- Spotify posted an unexpected Q3 profit of $68.9M, its first in 18 months, thanks to cost-cutting measures, including a workforce reduction of 200 employees.
- Apple released the watchOS 10.1 update that brings the new double tap gesture for Apple Watch Series 9 and Apple Watch Ultra 2.
- Microsoft has released its October Xbox system update, allowing users to remap keyboard keys to controller buttons and more.
- China is expected to participate in the U.K.'s global AI summit next week. Beijing's invitation has sparked a backlash, with former British PM Liz Truss among those calling for China's withdrawal due to concerns about its use of AI for state control and national security.
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 | AI and technology writer | | Beth is an editor and writer of Inside's AI and Tech newsletters, with a career spanning journalism since 2007. She has written for publications including The Arizona Republic and USA Today and authored a book on the solar industry in 2016. Reach her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Eduardo Garcia | |
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