Top tech stories today: February 5, 2024

In today’s news roundup, debates around AI and chips are rising. Discover a succinct and engaging snapshot of global tech highlights right at your fingertips.

1. Foxconn sees ‘slightly better’ 2024, warns on AI chip shortage

Foxconn, Apple’s primary assembler, anticipates a slightly improved year despite a chip shortage for AI servers. Chairman Liu Young-way is optimistic about AI server demand but notes global uncertainties. (The Economic Time)

2. Europe within reach of landmark AI rules after nod from EU countries

Europe takes a step closer to regulating artificial intelligence as EU countries endorse rules proposed by the European Commission three years ago. The AI Act aims for a global standard, balancing innovation and safety. Further legislative steps await, targeting implementation by 2026. (Reuters)

3. Farcaster sees 400% increase in daily active users amid ‘frames’ frenzy

The Farcaster network has witnessed a remarkable 400% surge in daily active users, reaching almost 25,000, fueled by the introduction of “frames” on its Warpcast app. Farcaster’s rapid growth contrasts with a decline in activity for platforms like Friendtech. (Cointelegraph)

4. Crypto exchange Gemini says bankrupt Genesis moves to authorize sale of trust assets

Genesis, a crypto leader, has filed a motion for U.S. Bankruptcy Court approval to sell assets, including interest in Grayscale Ethereum trusts, aiming for an expedited hearing on February 8. Following the settlement of an SEC lawsuit over its Gemini Earn program, Genesis is pursuing a liquidation plan to repay customers in cash or cryptocurrency. (Reuters)

5. Solona DEX Jupiter flips Uniswap amid tablecoin, Wen airdrop frenzy

Jupiter decentralised exchange recorded over $480 million in the last 24 hours, outpacing Ethereum’s Uniswap by $10 million. The surge was driven by intense trading of stablecoins and the new memecoin, Wen. (Cointelegraph)

6. Microsoft weighs launching Indiana Jones on the PS5

Bethesda’s upcoming Indiana Jones game, initially announced as an Xbox console exclusive, is now being considered for release on Sony’s PlayStation 5 (PS5) after a brief period of exclusivity. (The Verge)

7. Christian Selig makes the YouTube Vision Pro app that Google wouldn’t

Google hasn’t released a YouTube app for Apple’s Vision Pro headset, leading developer Christian Selig to create Juno, available on the App Store for $4.99. Despite being unofficial, Juno supporters’ key YouTube features offer a native vision UI and display ads for non-Premium subscribers. (The Verge)

8. Adobe brings Lightroom and Firefly AI to the Apple Vision Pro

Adobe’s Firefly AI, known for Photoshop’s generative fill, will be a native app on Apple’s Vision Pro, allowing users to place AI-generated images in real-world spaces. The Lightroom photo editing app features a simplified interface for ease of use with hand gestures. (The Verge)

9. Google’s CEO faces employee questions about layoffs

In addressing employee concerns, CEO Sundar Pichai has provided insights into Google’s ongoing layoffs, emphasising the necessity of tough decisions to support ambitious goals. (The Verge)

10. China’s Geely launches 11 low-orbit satellites for autonomous cars

Chinese automaker Geely has launched 11 low-earth orbit satellites from the Xichang Satellite Launch Center, aiming to enhance navigation for autonomous vehicles. The company plans to have 72 satellites in orbit by 2025 and ultimately aims for a constellation of 240. (U.S. News)

11. Judge certifies Apple app store class action

A federal judge has allowed tens of millions of Apple customers to pursue a class action accusing the company of monopolising the iPhone app market. Rejecting Apple’s attempt to exclude expert testimony, the judge anticipates the next phase in the 12-year-old antitrust case. (Reuters)

12. Bezos to sell up to 50 million Amazon shares by Jan. 31 next year, filing shows

Amazon founder Jeff Bezos plans to sell up to 50 million shares, valued at $8.6 billion, over the next year, according to a company filing. The sale is set to be completed by January 31, 2025. Amazon shares rose nearly 8% after strong holiday quarter sales. (Reuters)

13. China chip maker YMTC says its tech not for military use after Pentagon list

In response to being added to the Pentagon list of entities assisting China’s military, China’s top memory chip maker, YMTC, stated that its technology is not for military use. The company refutes any allegation of posing a threat to U.S. national security. (Reuters)

14. Spotify signs new deal with popular US podcaster Joe Rogan

Spotify has signed a new multi-year deal with comedian and podcaster Joe Rogan to boost advertising revenue. The company reported a 232% increase in overall podcast consumption since Rogan’s exclusivity and an 80% revenue rise in 2022. (Reuters)

15. Meta surges with record $196 billion gain in stock market value

Meta platforms achieved a record-breaking one-day gain of $196 billion in stock market value, the largest in Wall Street history. The surge followed Meta’s announcement of its first dividend and robust financial results. (Reuters)

Sylvia-Shen

Sylvia Shen

Sylvia Shen, a news reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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