| Here's a look at your daily tech briefing: - Microsoft to release four Xbox games on PS5, Switch.
- Apple drops home screen web apps for iPhones in Europe.
- OpenAI unveils AI video generator Sora.
- Coinbase reports first quarterly profit since Q4 2021.
- Epic's "Fortnite" returning to iOS in Europe.
Beth
p/beth-duckett | |
| 1 | | Microsoft said it will release four Xbox-exclusive video games on rival consoles, likely Sony's PlayStation 5 and the Nintendo Switch, as part of a strategy to expand its gaming business. Sources told The Verge that the games are "Hi-Fi Rush," "Pentiment," "Grounded," and "Sea of Thieves." What happened: During Thursday's official Xbox podcast, Microsoft Gaming CEO Phil Spencer announced the decision to bring four games to other consoles — two community-driven and two smaller games — though he didn't name the titles. Quotable: "I do have a fundamental belief that over the next five or ten years exclusive games, games that are exclusive to one piece of hardware, are going to be a smaller and smaller part of the game industry," Spencer said. What's next: Microsoft's cross-platform approach will fund future updates of the games or other first-party titles. Spencer told The Verge that Microsoft is focused on learning from the first four releases, so not all Xbox games will appear on rival consoles right away, but the company seems open to adding more games down the road. What the numbers show: The Xbox Series X and S, first launched in 2020, continue to lag behind the PlayStation 5 and Nintendo Switch in popularity. Last year, the PS5 outsold the Xbox Series S and X consoles by a three-to-one margin. Releasing games on other consoles could help offset the Xbox sales shortfall. 
|     | |
| 2 | | OpenAI unveiled Sora, its new AI system that generates high-definition videos from text prompts. Sora, the Japanese word for sky, can create realistic-looking videos up to a minute long. Sora will first launch to "a limited number of creators." More: - Sora can create 1080p movie-like scenes from descriptions or images and "extend" video clips by filling in missing details.
- According to OpenAI's blog post, Sora can create videos with "complex scenes with multiple characters, specific types of motion, and accurate details of the subject and background."
- The company shared some Sora-generated videos, including a woman walking down a Tokyo street.
- OpenAI said that safety measures, including "adversarial" tests, must be completed before Sora's public release.
- Sora still has weaknesses when it comes to complex scene physics, cause and effect, and spatial details.
Zoom out: - Meta, Google, and Runway AI have also developed text-to-video generators, though Sora's videos are the longest at 60 seconds.
| | | |
| 3 | | Apple announced it will drop support for iPhones' home screen web apps in the EU to comply with the bloc's new Digital Markets Act (DMA). Apple will block the progressive web apps (PWAs) in Europe through the upcoming iOS 17.4 release. More: - On iOS, the web apps offer native app-like features, like dedicated windowing and notifications, and separate data storage from the browser.
- The shortcut-like apps make it easier to access sites without repeated sign-ins. Services like Facebook Gaming use PWAs to bypass Apple's service fees.
- According to Apple, EU users will lose access due to a new DMA rule requiring support for non-WebKit browsers.
- To address security and privacy concerns of web apps using alternative browsers, Apple said it would have to create a new integration architecture that doesn't exist on iOS, which is not "practical," especially given the low adoption of the home screen web apps.
Zoom out: - Some public testers noticed the web apps had stopped working in Europe after the recent iOS 17.4 beta releases.
- The changes will take effect for all others in the EU when iOS 17.4 releases in March.
| | | |
| 4 | | Coinbase shares surged 15% in trading Friday after the crypto exchange reported its first positive income quarter in two years. In its Thursday earnings report, Coinbase reported a nearly 50% increase in Q4 net revenue to $905M, up from $605M a year earlier. More: - It's the first time Coinbase, the largest U.S. crypto exchange by trading volume, reported a profit since Q4 2021.
- Coinbase attributed the growth mostly to transaction revenues, noting that subscription and service revenues stayed mostly flat.
- Its Q4 consumer trading revenue rose 79%, to $493M.
- In the previous quarter, the company reported a net loss of $2M.
- In 2024, Coinbase plans to focus on driving revenue through core trading and the popular USDC stablecoin, among other actions.
Zoom out: - Executives said the SEC's recent approval of spot Bitcoin ETFs was a key driver for investor interest and demand in the cryptoeconomy.
- On Monday, Bitcoin hit $50,000 for the first time in over two years.
| | | |
| 5 | | Apple has restored Epic Games' developer account, opening the door for the Fortnite creator to launch its iOS games store in the European Union. The Epic Store, featuring the popular game Fortnite, will soon be available on iOS after a years-long ban stemming from the Apple vs. Epic legal battle. More: - Under the EU's Digital Markets Act, Apple is forced to open up its iOS ecosystem to third-party app stores.
- Epic plans to launch its iOS storefront later this year, with Fortnite available in select European regions covered by the Digital Markets Act.
- Apple suspended Epic's developer account in 2020. That's when Epic introduced its own in-app payment system in the iOS version of Fortnite, triggering the legal dispute.
- Recently, the U.S. Supreme Court has declined to hear separate appeals from Apple and Epic Games in their ongoing lawsuit over App Store policies.
| | | |
| 6 | | Donald Trump's social media startup, Truth Social, received SEC approval to go public through a merger with Digital World Acquisition Corp. (DWAC). The merger deal with the blank-check firm values Truth Social's parent company at up to $10B. More: - DWAC announced this week that the SEC has cleared the registration statement for its merger with Trump Media & Technology Group (TMTG), led by former Rep. Devin Nunes (R-Calif.).
- The corporation will reveal the date for a stockholder meeting to vote on the merger within two days.
- Pending investor approval, Trump Media is set to become a public company in the U.S., potentially gaining $300M for Truth Social, with Trump securing a stake worth nearly $4B.
Zoom out: - The merger, started in October 2021, has encountered setbacks including insider trading charges against former members, an $18M SEC fine for allegedly misleading investors, and a shareholder extension to avoid going into liquidation and returning the $300M raised.
| | | |
| 7 | | QUICK HITS - If your business accepted Visa or MC from Jan. 1, 2004 to Jan. 25, 2019, you may be entitled to a share of the historic $5.6 billion settlement.*
- Apple is updating its Xcode programming software with AI that can generate code.
- Restaurant management software maker Toast is laying off 550 employees, or 10% of its workforce, after reporting better-than-expected Q4 earnings.
- Google's DeepMind revealed the latest version of its major large language model. Called Gemini 1.5 Pro, it can process text in addition to video, images, and audio to answer questions.
- U.S. tech giant Cisco said it will cut 5% of its workforce, or about 4,250 jobs, as it plans to shift its focus to AI, software development, and other key areas.
- Conquer any Kubernetes challenge with the Kubernetes Cookbook. Get your copy from DoiT, a global team of cloud experts.*
*This is a sponsored post. | | | |
| Upcoming Events | | MAR
7 | | Portfolio Diversification - Learn from knowledgable experts on the latest trends in alternative investment assets like private equity, crypto, real estate, and the art market. | | | | | | | MAR
27 | | Discover how generative AI can speed up your enterprise, expand your business model, and improve your value proposition. Network with hundreds of AI leaders.* | | | | | | * This is a sponsored event | | | |
 | AI and technology writer | | Beth is a contributing editor and writer of Inside's AI and Tech newsletters. She has written for publications including USA Today, the Arizona Business Gazette, and The Arizona Republic, where she received recognition with a Pulitzer Prize nomination and a First Amendment Award for collaborative reporting on state pension cost increases. You can reach her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Eduardo Garcia | |
| |
| |
