Apple and OpenAI are escalating their legal fight over allegations that the ChatGPT maker used Apple employees to obtain closely guarded hardware secrets. Why it matters: If the case makes it to the discovery process, two of the most secretive companies in tech could be forced to reveal sensitive information about how they recruit talent, develop hardware and protect confidential information. Driving the news: On Monday, OpenAI responded to Apple's preliminary injunction request that asked a judge to block OpenAI from using any potential confidential information or trade secrets while the lawsuit remains in motion. - In its response, OpenAI said: "This dispute is a mess of Apple's own making, and it is trying to blame everyone else." -…
For better or worse, Tim Cook's legacy is likely to be determined by something we don't really know the answer to yet: the company's bet to build its AI strategy partly around other companies' models. Why it matters: In the short term, the move could save substantial sums compared with building and operating a frontier-model business of its own, but it's left Apple dependent on Google for some of its most important AI capabilities. Driving the news: As John Ternus officially takes over today as Apple CEO, much of the analysis of Cook's tenure has focused on his record. - On the positive side, he has more than quadrupled annual revenue and grown Apple's market capitalization by an even higher amount, to more than $4 trillion. - And he…
Prices for new laptops, tablets and more have jumped thanks to a shortage of memory chips, which are also needed for AI data centers. Should you try to wait it out, or buy new devices before it gets worse? CNN Tech Editor Lisa Eadicicco has answers. 0:00 Why laptops and tablets are more expensive 8:25 Could manufacturers just use less memory? 15:06 What should consumers do? Watch 24/7 live news with CNN Headlines: https://bit.ly/4eIvlTr #News #tech
Data: S&P Capital IQ Pro; Chart: Erin Davis/Axios Visuals Nvidia made billions selling AI's essential ingredient: chips. - Now it's plowing those riches straight back into the AI ecosystem, betting on a buildout that craves ever more compute. Why it matters: Nvidia has become the AI industry's supplier, banker and kingmaker, feeding a self-reinforcing cycle in which chip profits finance the next wave of chip demand. State of play: Already the world's most valuable company, Nvidia is now worth more than five of the 11 sectors that make up the S&P 500. - The chipmaker reported nearly $60 billion in quarterly profit Wednesday, prompting The Kobeissi Letter to call the results "the most impressive earnings in history." - Nvidia believes…
Data: Source: S&P Capital IQ Pro, company releases; Note: Nvidia's fiscal year runs ahead of the calendar. The quarter ended July 2026 is its Q2 fiscal 2027.; Chart: Emily Peck/Axios AI behemoth Nvidia reported blowout earnings Wednesday — exceeding Wall Street's expectations — and even jaded investors who had grown a bit immune to the company's stratospheric growth over the past year seemed to like it. Why it matters: The chipmaker's earnings are viewed as a barometer of the overall health of the AI trade. - Every three months when it reports its financials, Wall Street combs through the numbers for signs the whole shebang is slowing down. By the numbers: The numbers are bonkers. Nvidia's revenue was $96.2 billion in the second…
Nvidia just delivered another massive earnings report, but the bigger story may be what comes next. The company reported fiscal second-quarter earnings after the closing bell on Wednesday. The company is also projecting roughly 70% revenue growth for fiscal 2028. LiveNOW’s Andy Mac spoke with Robbie Whelan from The Wall Street Journal about Nvidia’s second quarter fiscal report and what could be next for the tech giant.
Nvidia topped revenue and earnings expectations in its latest quarter, but the stock ticked downward in extended trading Wednesday as investors maintained high expectations for the AI darling. Why it matters: The stock is widely considered a bellwether for the health of the broader AI economy, but lately it has been trailing the broader semiconductor sector in market gains. Zoom in: Nvidia posted revenue of $96.2 billion, more than doubling its year-earlier showing, while net income jumped 126% to $59.7 billion. - That exceeded S&P Capital IQ expectations of $92.1 billion in revenue and $51.2 billion in earnings for the period ended July 26. - Revenue from data centers — Nvidia's largest source of sales — rose 117%, to $89 billion. …
