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| 1 | | Meta CEO Mark Zuckerberg unveiled the company's Quest 3 virtual reality (VR) headset, days before Apple is expected to announce its own VR/AR device. The Quest 3 has a new Qualcomm Snapdragon chip, with two times the graphics performance and a 40% thinner design than the Quest 2. More: - The VR headset is set to be released in the fall, starting at $499, with more details at Meta's Connect conference in September.
- The Quest 3 will have redesigned controllers, color passthrough cameras for improved mixed-reality experiences, and a new Qualcomm VR/AR chip for faster performance.
- While the Quest 3 will not have eye tracking like the higher-priced Quest Pro, it aims to be a superior VR headset overall, according to Zuckerberg.
- The announcement precedes Apple's upcoming Worldwide Developers Conference on June 5, when Apple is expected to introduce a new VR headset with greater capabilities at a higher price point.
Zoom out: - The Quest 3 will be compatible with the games available for the Quest 2.
- Meta is also slashing prices for the Quest 2, with the 128GB version dropping by $100 to $299.99 and the 256GB version decreasing by $80 to $349.99, effective from June 4.
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| 2 | | What happened: The U.S. Department of Energy is providing $46M in taxpayer funding to eight nuclear fusion startups, with the potential for further funding to $415M if certain milestones are met and approved by Congress. Details: The initial funding, provided under the 2020 Energy Act, covers a period of 18 months and aims to support pilot plants for generating power through fusion reactions. The beneficiaries, including Type One Energy and Tokamak Energy, are exploring different fusion reactor designs, including traditional tokamaks and what's known as slinky-like stellarators. The big picture: Nuclear fusion, the process that powers the Sun and other stars, has the potential to provide a safe, limitless, and carbon-free energy source for the planet. In 2022, private investors poured an estimated $1B into fusion technology as the industry is projected to grow and mature between 2035 and 2050, with potential investments eventually reaching into the trillions of dollars.
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| 3 | | Amazon will pay $30.8M to settle two FTC cases involving privacy violations of its smart devices. In one case, the FTC found that Amazon's Ring gave employees and contractors unrestricted access to customers' sensitive video data, allowing them to view, download, and transfer it without proper privacy and security measures. More: - Amazon will pay $5.8M in customer refunds for privacy violations related to its smart doorbell camera unit Ring.
- The settlement orders Ring to delete unlawfully viewed data, disclose the extent of data access to customers, and restrict the use of specific geolocation and voice information.
- Separately, Amazon agreed to pay a $25M civil penalty to resolve allegations that it unlawfully retained children's voice and location data recorded by Alexa for an extended period, violating child privacy laws.
- As part of that FTC agreement, Amazon is ordered to purge inactive child accounts, improve its data deletion practices and privacy measures, and delete specific data collected by Alexa.
Zoom out: - The settlements with Amazon's Ring and Alexa divisions mark the FTC's first actions against the tech giant under Chair Lina Khan.
- While Amazon denies any wrongdoing, the company has agreed to implement certain privacy and other changes.
- In both cases, the proposed orders against Amazon require approval from federal judges following unanimous votes by FTC commissioners.
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| 4 | | According to Bloomberg's Mark Gurman, Apple could announce several new Mac models at its WWDC event on June 5. These could include a larger 15-Inch Macbook Air with an M2 chip, along with two "high-end Macs" with the M2 Max chip and an M2 Ultra chip. More: - The 15-inch MacBook Air would build on last year's introduction of the M2-equipped 13-inch Air.
- Additionally, Gurman reports that Apple is now testing the new high-end Macs with the M2 Max and unannounced M2 Ultra chip, possibly updated versions of the Mac Studio.
- Apple's decision to soon accept trade-ins for certain Mac models aligns with the possibility of a Mac Studio refresh.
- Gurman also suggests that Apple might introduce MacBook Airs and iMacs with an undisclosed M3 chip at WWDC. However, the iMacs may not be immediately available to buy.
- Apple's WWDC keynote will stream online starting at 1 p.m. ET / 10 a.m. PT on Monday, June 5.
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| 5 | On Wednesday, Salesforce reported an 11% increase in quarterly revenue, its slowest growth in 13 years. Despite the slowdown, the business software provider exceeded Wall Street's earnings and revenue estimates and raised its earnings outlook and margin targets for the year. More: - Salesforce's revenue for the quarter ending April 30 was $8.25B from $7.41B a year ago, slightly beating analysts' expectations.
- It forecasts revenue of $8.51B to $8.53B for the upcoming quarter, reflecting a growth rate of 10% compared to the same period last year.
- Although its shares have rallied 68% this year, the company has faced challenges including job cuts, executive departures, and pressure from activist investors.
- During the earnings call, CEO Marc Benioff highlighted the company's cost management and careful spending in response to the shareholder pressure.
- The company has been investing significantly in generative AI tools, he said, contributing to a 36% increase in capital expenditures year-over-year.
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| 6 | | The U.S. and EU plan to release a voluntary "code of conduct" for AI soon, which can serve as a temporary measure until permanent regulations are established. U.S. Secretary of State Antony Blinken emphasized the need to adopt the code urgently, inviting "like-minded countries" to participate. More: - EU tech chief Margrethe Vestager said that a draft of the code is expected "within weeks."
- The initiative aims to address some of AI's risks while EU lawmakers work on comprehensive AI regulations
- Permanent rules governing AI could take two years, Vestager noted, adding that the world needs "to act now."
- AI is "developing at amazing speeds" and guardrails can help "society to trust what is ongoing," she added.
Zoom out: - The EU's AI Act, which includes regulations on things like biometric surveillance and emotion recognition, is still being finalized and could take until 2025 to take effect.
- The push for rules comes after leading AI experts, including OpenAI CEO Sam Altman, signed a brief statement citing an urgent need to address "the risk of extinction from AI," comparing its threat to nuclear war and pandemics.
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Term of the Day Brand positioning: Brand positioning is a strategy that businesses use to differentiate their product or service in the market. Read More Question of the Week Should companies take steps to avoid employee burnout, or should it be the individual's responsibility to manage it themselves? Join the conversation |
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| | Beth Duckett AI and technology writer | | Beth is a writer and editor at Inside.com covering artificial intelligence and daily technology news. She has written the Inside AI newsletter since 2019. You can reach her at [email protected]. | | This newsletter was edited by Eduardo Garcia |
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