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| Here are today's top tech stories: - Netherlands blocks ASML exports to China.
- Tesla reports record Q4 deliveries.
- Fidelity cuts X/Twitter valuation.
Beth
p/beth-duckett | |
| 1 | | The Dutch government has withdrawn the export license for certain chip-making equipment from ASML to China. Netherlands-based ASML specializes in lithography machines that are used to help create chip circuitry. More: - ASML said its license for NXT:2050i and NXT:2100i lithography systems was partially revoked, affecting "a small number of customers in China."
- This reportedly includes Shanghai-based SMIC, which used ASML technology to manufacture Huawei's latest flagship processor.
- The move comes after the U.S. government tightened export controls on advanced chips and chipmaking tools to China, and urged allies to do the same.
- ASML said that after consulting with Washington, it has clarified the impact and scope of the U.S. export controls.
- The company said it it doesn't expect the export curbs "to have a material impact on our financial outlook for 2023."
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| 2 | | Tesla delivered a record 485,000 vehicles in Q4 2023, 11% more than the previous quarter. To boost sales, the company has offered increased discounts and incentives, including six months of free fast charging for deliveries by year-end. The moves helped Tesla deliver 1.8 million vehicles globally in 2023, up from 1.3 million in 2022 and in line with its own guidance. 
What the numbers show: Tesla delivered 484,507 vehicles in the last three months of 2023, beating analysts' average estimate of 473,253 deliveries. The company also achieved a record production of 494,989 vehicles in the quarter, bringing its total annual production to 1,845,985. What it means: Wedbush analysts credit Tesla's strong Q4 deliveries to its success in China, yet the company fell short of surpassing China's BYD Co., which is now the global leader in electric car sales with 526,409 vehicles sold in the final quarter of the year. | | | |
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| 3 | | Mutual fund company Fidelity has marked down its shares in X, formerly Twitter, at 71.5% less than their original valuation. Fidelity's Blue Chip Growth Fund filing shows a drop in the value of its X shares to $5.6M, down from $19.66M at the time of Elon Musk's acquisition of Twitter in October 2022. More: - Fidelity's valuations of X, a private company, are closely monitored as indicators of its health and investor sentiment toward Musk.
- Its mutual fund shows a continual decline in X's value over the past year.
- In its latest filing, Fidelity says its X shares are now valued at just under $5.6M, a 14.5% decrease from the $6.55M valuation last April.
- X shares make up less than .01% of the fund's total value, which exceeds $49B.
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| 4 | | Meta has permanently reduced the price of its Quest 2 VR headset to $249. The price cut comes after the launch of its successor, the Quest 3, in October. More: - Following its Black Friday sale, Meta has permanently set the 128GB Quest 2 VR headset's price at $249, down from $299.
- The 256GB Quest 2 model is also $50 cheaper at $299. Refurbished units now cost $230 and $270, respectively.
- Meta is also lowering the prices of various Quest 2 accessories, including a $10 reduction for the Elite Strap to $49.99.
Zoom out: - The Quest 2 is currently the best-selling VR headset on the market.
- Meta said it will continue selling and supporting the Quest 2 "for a long while," without specifying an end date.
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| 5 | | Anthropic, the generative AI startup backed by Google and Amazon, projects an annualized revenue run rate of $850M by the end of 2024, up from its $500M projection three months ago, sources told The Information. In September, the AI startup reported to investors that it was earning revenue at an annual rate of $100M. More: - Insiders also estimate that Anthropic's annual revenue could hit $1B by the end of 2024.
- This would equal around $83M per month in sales.
- Anthropic is reportedly in talks to secure $750M in a round led by venture capital firm Menlo Ventures.
- The round, not including the investment, could value Anthropic at $15B to $18B, according to The Information.
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| 6 | | Nvidia is launching a lower-powered graphics card for the Chinese market to comply with U.S. export controls. While less powerful than the flagship GPU it sells in other countries, the company says the chip offers a "quantum leap in performance, efficiency and artificial intelligence-driven graphics." More: - Nvidia says the new chip, called the GeForce RTX 4090 D GPU, will launch to Chinese customers in January.
- The RTX 4090D, with 14,592 CUDA cores and a 425W power draw, is slightly less powerful than the 16,384-core, 450W RTX 4090 sold elsewhere.
- The Chinese version contains fewer processing subunits that accelerate AI workloads.
- Overall, the RTX 4090D is roughly "5% slower in gaming and creating," an Nvidia spokesperson told The Verge.
Zoom out: - Nvidia developed the new GPU version after recent U.S. export rules banned the sale of the RTX 4090, along with its H800 and A800 AI GPUs, in China.
- The RTX 4090 D was designed to comply fully with the U.S. government export controls, Nvidia said.
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- Microsoft Copilot, the company's AI-powered chatbot/assistant, is now available as an iOS app.
- LG Electronics is expected to unveil a two-legged AI robot during CES 2024 next month.
- Shield AI, the developer of an "AI pilot" that turns aircraft into autonomous systems, has raised an additional $300M in funding, bringing its recent total to $500M.
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 | AI and technology writer | | Beth is a contributing editor and writer of Inside's AI and Tech newsletters. She has written for notable publications like USA Today and the Arizona Business Gazette. During her time as a public policy reporter at The Arizona Republic, she received recognition with a Pulitzer Prize nomination and a First Amendment Award for her collaborative reporting on pension cost increases. Beth also authored a book on the solar photovoltaic industry in 2016. You can reach her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Eduardo Garcia | |
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