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| Hey, Insiders! Welcome to Monday's Inside Tech newsletter. Here's a look at today's top stories: - Nvidia cancels its AI conference in Israel.
- 23andMe sued over user data leak.
- Amazon launches first internet satellites.
- OpenAI is looking into developing its own AI chips.
If you find this newsletter useful, please share it with your friends and colleagues. Thank you! Beth
p/beth-duckett | |
| 1 | | Nvidia has canceled its AI summit in Tel Aviv, Israel, citing safety concerns amid the escalating Israel-Hamas war. The conference, planned for October 15-16, would have showcased Nvidia's advancements in generative AI, including a keynote speech from CEO Jensen Huang. More: - In a notice on its website, Nvidia said the cancellation "is the best course of action to ensure everyone's safety."
- The summit was expected to draw 2,500+ attendees and provide 60+ live sessions covering topics like supercomputing, autonomous vehicles, healthcare, and cybersecurity.
- Nvidia has yet to provide information about a rescheduling or virtual/online replacement.
Zoom out: - Nvidia previously said it chose Israel for the event due to its thriving tech sector, which boasts over 6,000 startups and a strong track record in VC investments per capita.
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| 2 | | Genetic profiling service 23andMe Inc. is facing a proposed federal class-action lawsuit for allegedly failing to protect the genetic data of thousands of users. 23andMe, which sells DNA test kits, has confirmed that compromised user data is circulating on hacker forums following a credential-stuffing attack. More: - In a credential-stuffing attack, hackers reuse compromised user information from one organization to gain unauthorized access to another.
- Accounts are breached individually rather than the company's wider internal systems.
- In the lawsuit filed Monday, plaintiffs claim the attack compromised the names, sex, birthdates, genetic ancestry results, profile pictures, and locations of 23andMe users.
Zoom out: - Hackers claim to have stolen data on millions of users and listed it for sale on the dark web.
- Using the data, hackers reportedly compiled a list of individuals with Ashkenazi Jewish ancestry, while some users of Chinese descent may also be included.
- Reports speculate that the ancestry data was accessed via 23andMe's DNA Relatives feature, which connects users with DNA-matched potential relatives.
Q: What measures do you think companies like 23andMe should take to better safeguard user information? Join the conversation here. | | | |
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| 3 | Amazon on Friday successfully launched and deployed its first two internet satellites into orbit. The prototype satellite test will provide crucial data as Amazon aims to deploy 7,774 satellites in low Earth orbit by 2029, challenging SpaceX's Starlink and others in the wireless broadband internet space. 
Background: In 2019, Amazon announced Project Kuiper, its satellite internet network, with a $10B investment. The company has been granted permission by U.S. regulators to deploy over 3,200 satellites and is now pursuing approval for an additional 4,538. What's new: On Friday, Amazon's KuiperSat-1 and KuiperSat-2, the test satellites, were launched from a Florida launchpad using a United Launch Alliance Atlas V rocket. It's the company's first step before launching thousands more satellites into orbit to provide high-speed, low-latency broadband to subscribers. What brands should care: Starlink, its primary rival, has already deployed around 4,800 satellites and reported over two million active customers, generating $1.4B in revenue last year. Meanwhile, Canada's Telesat and OneWeb, recently acquired by French satellite company Eutelsat, are among other satellite internet companies with low-Earth-orbit constellation plans. OneWeb is already offering services through various partners. | | | |
| 4 | | Starting in January, car dealers can issue immediate refunds to buyers of certain electric vehicles, with potential tax credits of up to $7,500, according to new guidance from the U.S. Treasury Department. The guidance allows dealers to lower the price of an EV by up to $7,500 at the time of purchase, rather than forcing customers to wait until tax filing. More: - To qualify, an EV must have a minimum battery capacity of seven kilowatt hours.
- The manufacturer's suggested retail price is also capped at $80,000 for SUVs and pickup trucks and $55,000 for regular EVs.
- Buyers can't claim the credit if their income exceeds $300,000 for married couples filing jointly or $150,000 for most single taxpayers.
- Dealers can now apply the credit at the point of sale as a discount or offer it as cash, with registration required through an IRS portal.
Zoom out: - The move aims to boost EV adoption in line with the Biden administration's target of reaching 50% EV market share in new car sales by 2030.
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| 5 | | A known leaker suggests Nintendo will launch the Switch 2 as early as September 2024, offering a $449 standard version and a $400 digital-only option. The second-gen console is expected to deliver gaming performance on par with the Xbox One or PS4. More: - According to leaker SoldierDelta, the Switch 2 is rumored to launch on Sept. 24, 2024, with a fallback release date of Nov. 3, 2024.
- Nintendo has already briefed partner studios, including Activision, on the Switch 2, which reports confirmed is due out in the second half of 2024.
- It may have an LCD screen instead of OLED to bring down costs.
- Nintendo has reportedly already sent out development kits.
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| 6 | OpenAI, the maker of ChatGPT, is looking into developing its own AI chips and other options to address a shortage of advanced processors in the market, sources told Reuters. OpenAI now has secured over $11B in venture capital and is approaching $1B in annual revenue, making it well-positioned for R&D investments. More: - To power and develop its AI models, OpenAI relies on clusters of Nvidia GPUs in the cloud and a supercomputer from Microsoft that's equipped with 10,000 Nvidia GPUs.
- Due to the ongoing shortage of Nvidia high-end GPUs, OpenAI executives are considering various options, including designing its own AI chips internally or diversifying suppliers beyond Nvidia, according to Reuters.
- Next month, Microsoft is set to introduce its first AI chip at its annual developers' conference, a move that will also curb its reliance on Nvidia AI chips amid surging demand.
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| 7 | | 
Community Corner Last week, we asked our tech community, "What's your favorite health or wellness-related app, wearable, or tech solution?" Here are some highlighted responses we received: - Devin Littlefield (p/devin-the-marketer), Managing Partner at Market Vantage, answered: "I'm a big fitness buff, so I've always been a fan of the Garmin ecosystem! While their app isn't my all-time favorite, what I do love is the data. I particularly am a runner, so many of the running-related datapoints they have like Vo2 max, vertical oscillation and stride lengths, ground contact balance, etc. are all super interesting to have in addition to standard data like HR, cadence, and so on."
- James Spurway (p/james-spurway), Co-Founder at Indochina Consulting, answered: "I've been trying a different approach for a few years where I decided to stop 'incessant tracking' of things in my personal life. I still wear a cheap fitness band which doubles as a watch, but I don't set up weekly or monthly schedules and targets, or download data. I've got routes mapped out in my head and know how long they are and how long I should take."
Join the conversations at Inside.com, and we may shout out your name and business, or contact you for more! ⭐️ | | | |
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- OnePlus is preparing to launch its OnePlus Watch 2, featuring a circular display, in 2024.
- China is planning to boost its computing power by 50% by 2025, with a goal of reaching 300 exaflops of computing power, up from the current.
- Canva introduced new AI tools to help office workers create designs and generate videos from text prompts.
- monday.com and BILL drove acquisition, engagement, and retention by adding Cord's SDK to their product. You can, too.*
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INSIDE TECH LEADERBOARD (7 DAYS) |
 | 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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