Top tech news stories today: June 19, 2024

STON.fi pioneers seamless cross-chain swaps on the TON blockchain, Meta faces a significant legal battle over crypto scam ads, and Tesla encounters delays in Cybertruck deliveries due to wiper issues, highlighting ongoing developments in fintech, AI, and automotive technologies. See also: Li Auto launch delay tests investor confidence amid China-equity short-interest pressure.

Crypto

1. TON-based DEX aims to simplify cross-chain swaps by removing bridging and wrapping

STON.fi aims to advance decentralised finance (DeFi) by eliminating intermediaries and enhancing user control over assets. Their cross-chain swap solutions on the TON blockchain enable seamless token transactions across networks, ensuring security and efficiency without relying on wrapped tokens or bridges. (Cointelegraph)

Fintech

2. Meta must face Australian billionaire Forrest’s US lawsuit over scam Facebook crypto ads

U.S. District Judge Casey Pitts allowed Australian billionaire Andrew Forrest’s lawsuit against Meta to proceed, rejecting Meta’s dismissal bid. Forrest claims Meta’s negligence in scam ads featuring his likeness led to substantial losses. (Yahoo!Finance)

IT infrastructure

3. Amazon fined $5.9 million over warehouse worker quotas in California

California fined Amazon $5.9 million for allegedly violating the state’s Warehouse Quota Law, claiming unsafe working conditions. The fines target warehouses in Redlands ($1.2 million) and Moreno Valley ($4.7 million). (APnews)

4. AMD investigating claims that company’s data was stolen in hack

AMD is investigating a potential cyberattack by “IntelBroker,” who claims to sell data from an AMD.com breach, including future products and databases. AMD is collaborating with law enforcement and a third-party host. (The Verge)

5. US pushing Netherlands, Japan to restrict more chipmaking equipment to China, source says

U.S. export policy chief Alan Estevez visited Japan to strengthen an agreement with Japan and the Netherlands to restrict China’s semiconductor production capabilities. (U.S.News)

AI

6. AI fever drives Nvidia’s rise to world’s most valuable company

Nvidia has become the world’s most valuable company, reaching a market value of $3.34 trillion after a 3.5% share rise. This surge, driven by high demand for its AI chips, surpasses Microsoft and Apple. (USA Today)

7. Bayer looks to AI to combat herbicide resistance faster

Bayer’s crop science division is leveraging AI to combat herbicide-resistant weeds. Their Icafolin herbicide, the first new mode of action in 30 years, launches in Brazil in 2028. (Market Screener)

8. Verizon uses GenAI to improve customer loyalty

Verizon is enhancing customer experience with new GenAI tools that simplify interactions and reduce cognitive load for service partners. These tools, including a Personal Research Assistant and “Fast Pass” to resolution, improve accuracy and personalization. (Verizon)

9. Decagon raises $35 million for AI-powered customer service

Generative AI is transforming customer support, promising cost reductions and scalability. Critics warn it may lead to layoffs and errors, while proponents like Jesse Zhang of Decagon argue it will enhance worker roles. (Tech Crunch)

10. NATO targets AI, robots and space tech in $1.1 billion fund

A NATO consortium has allocated $1.1 billion to enhance defense technologies, investing in four European tech companies. The first tranche of funds supports Fractile, ARX Robotics, iCOMAT, and Space Forge, focusing on AI, robotics, and advanced materials. (Fox News)

AR/VR

11. Snap launches AI tools for advanced augmented reality

Snap launched advanced generative AI technology to enhance realistic special effects on Snapchat, aiming to attract users and advertisers. The new Lens Studio allows AR developers to create sophisticated effects quickly, with tools like an AI assistant and automatic 3D image generation. (Yahoo!Finance)

IoT

12. Viasat ELEVATE: Powering safety, sustainability, and efficiency

Viasat’s global partner event, hosted at their Carlsbad Campus, California this week, emphasises the transformative potential of SatelliteIoT for businesses. (IoT Now)

Products

13. Android 15 just reached a major milestone

Google is advancing toward Android 15’s final release with today’s third beta, marking platform stability for developers. New features include streamlined passkey UI for biometric authentication and enhanced keyboard options. (The Verge)

14. Meta forms new Wearables group and lays off some employees

Meta’s Reality Labs undergoes major restructuring under CTO Andrew Bosworth, consolidating teams into two groups: Metaverse and Wearables. The move integrates Quest headset and smart glasses under new organisational structures, with layoffs confirmed in redundant leadership roles. (The Verge)

15. Tesla reportedly delays Cybertruck deliveries because of windshield wiper issues

Tesla Cybertruck deliveries face delays reportedly due to malfunctioning windshield wipers, according to users on forums like Cybertruck Owners Club and Drive Tesla. (The Verge)