Techmeme
June 11, 2024, 10:15 PM

Top News

Apple Machine Learning Research:
Apple details two Apple Intelligence language models: ~3B parameter on-device and a larger model on Apple silicon servers available with Private Cloud Compute  —  At the 2024 Worldwide Developers Conference, we introduced Apple Intelligence, a personal intelligence system integrated deeply into iOS 18, iPadOS 18, and macOS Sequoia.
Mark Gurman / Bloomberg:
Kyle Orland / Ars Technica:
Hayden Field / CNBC:
Elon Musk withdraws his lawsuit against OpenAI, Sam Altman, and Greg Brockman, filed in California court in February, for breach of contract and fiduciary duty  —  Elon Musk on Tuesday withdrew his lawsuit against OpenAI and two of the company's co-founders, Sam Altman and Greg Brockman, in California state court.
Joe Rossignol / MacRumors:
Apple says iOS 18, iPadOS 18, macOS Sequoia, and watchOS 11 will rebrand Apple ID to Apple Account “for a consistent sign-in experience across Apple services”  —  Earlier this year, we reported that “Apple ID” would be renamed to “Apple Account,” and this change has now been officially announced.
Josh Tyrangiel / Washington Post:
Q&A with Tim Cook on how AI will help users “save time”, sticking to Apple's values, the Apple Intelligence name, hallucinations, OpenAI, journalism, and more  —  In an interview, Tim Cook explains how Apple's new AI will enhance your work and life, with guardrails.
Bloomberg:
Source: Spotify plans to launch a higher-priced premium plan later in 2024, charging $5+ more per month for better audio, playlist and library tools, and more  —  The plan will cost at least $5 more per month and include access to high-fidelity audio and new playlisting tools.
Ryan Vlastelica / Bloomberg:
Apple shares closed up 7.3% at $207.15 in their biggest one-day jump since November 2022, giving the company a $3.18T market cap, just under Microsoft's $3.22T  —  - The return to all-time high comes after Monday conference  — Shares have underperformed most other big tech names this year
Jordan Novet / CNBC:
Oracle reports Q4 revenue up 3% YoY to $14.29B, vs. $14.55B est., net income down 5% to $3.14B, announces deals with Google and OpenAI; ORCL up 7%+ after hours  —  Oracle shares jumped as much as 9% in extended trading on Tuesday after the software maker announced cloud deals with Google and OpenAI …
Financial Times:
Hayden Field / CNBC:
Current and former OpenAI staff are increasingly worried about the company's power over their equity, with no IPO in sight, restrictive company policies, more  —  OpenAI plans to allow stakeholders to sell a portion of their shares every year, but the company, which has been valued at over $80 billion …
Financial Times:
Paris-based AI startup Mistral raised a €600M Series B led by General Catalyst, sources say comprising €468M in equity and €132M in debt at a €5.8B valuation  —  Price tag has tripled since December for Microsoft-backed AI start-up launched one year ago to challenge OpenAI
Ivan Mehta / TechCrunch:
Google's June Pixel drop adds Gemini Nano to the Pixel 8 and 8a, updated HDR+ support to the Pixel 6 and up, car crash detection on the Pixel Watch 2, and more  —  Google is finally making its Gemini Nano AI model available to Pixel 8 and 8a users after teasing it in March.
Zachery Eanes / Axios:
Raleigh, NC-based Relay, which makes walkie-talkies that can provide real-time location data, do live translation, and more, raised a $35M Series B led by G2  —  - The tool has proven useful in fields like hospitality, with hotel workers using them between floors, as well as in health care, education and manufacturing, Chuang said.

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The Logan Bartlett Show:
EP 109: Sebastian Siemiatkowski (CEO, Klarna) on the Future of Klarna, Valuation Changes and AI in Finance
A podcast hosted by Logan Bartlett, an investor at Redpoint Ventures, covering tech with industry insiders.
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