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News on Medial
Apple cancels its car, Google's AI goes awry and Bumble stumbles
TechCrunch
·
1y ago
Medial
In this week's tech industry news, investment firm KKR is acquiring VMware's end-user computing business for $4 billion. French AI startup Mistral has launched a new model to rival OpenAI's GPT-4, alongside a partnership with Microsoft. Apple has canceled its secretive autonomous electric car project, while Bumble posted weak Q4 results and plans to lay off 30% of its workforce. Google apologized for an AI blunder, Tumblr's CEO faced criticism, and Byju's investors voted to remove the company's founder. Inkitt, a self-publishing platform, raised $37 million, and Lapse secured $30 million for its unique photo-sharing app. Techstars faced criticism after operational changes, and various podcasts covered startup news and interviews. Toyota is offering a steep discount on its Mirai fuel-cell vehicle.
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Musk reacts in is own trademark style after Apple cancels electric car project
Livemint
·
1y ago
Medial
Apple has abandoned its Project Titan to build an electric car, marking the end of one of the company's most ambitious projects. Tesla CEO Elon Musk reacted to the news with two emojis on Twitter. The decision to scrap the project, which was internally disclosed at the end of February, has left approximately 2,000 employees stunned. Some team members will transition to Apple's artificial intelligence division, with a focus on generative AI projects. The exact number of layoffs is unclear. Apple has lagged behind other tech giants in its incorporation of AI technology.
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Apple cancels work on electric car, shifts team to generative AI
Economic Times
·
1y ago
Medial
Apple has reportedly canceled its plans to build an electric car after a decade-long effort. The company made the announcement internally, surprising the 2,000 employees working on the project. The decision was shared by COO Jeff Williams and VP Kevin Lynch, who stated that the project will be winding down and that many employees will be shifted to the artificial intelligence division. The Apple car project had struggled since its inception in 2014, facing leadership and strategy changes. The recent decision comes after reports of the project reaching a make-or-break point last month.
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Google is more resilient than its AI stumbles imply
Livemint
·
1y ago
Medial
Google's share price rose 8% in Q1 2024, lagging behind other Big Tech peers. The company has faced challenges, including a trial and antitrust lawsuit, which have worried investors about potential financial penalties or a breakup. Additionally, Google's AI efforts, like the launch of its Gemini tool, have been marred by errors. The company's financial results have also disappointed, in contrast to Microsoft's strong performance. However, Google still dominates the internet search market and is expected to see growth in advertising revenue, particularly from YouTube. The company will focus on AI in upcoming conferences to regain momentum.
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Google's Gemini may just be about to make Elon Musk and Sam Altman really jealous
Business Insider
·
1y ago
Medial
Apple and Google are reportedly in negotiations to integrate Google's AI model, Gemini, into the iPhone. This move would provide new Gemini-powered features to iPhones, according to sources familiar with the talks. In addition to Google's AI, Apple has also considered using OpenAI's model and held discussions with the company. If the deal with Google goes through, it would give Gemini an advantage over its competitors, including OpenAI and xAI. The integration could also help Gemini recover from controversy it faced earlier this year, when it was criticized for generating inaccurate historical images of people of color.
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Apple cancels its autonomous electric car project and is laying off some workers
TechCrunch
·
1y ago
Medial
Apple has officially ended its project to develop an autonomous electric car, resulting in job cuts and the reassignment of employees to other projects within the company. The decision comes as automakers reassess their investments in electric vehicles and autonomous technology, and as Apple faces challenges in its hardware sales and services business. The project, known as "Project Titan," began in 2014 and at one point had around 5,000 employees working on it. Apple's executives announced the cancellation of the project in a brief meeting with the team.
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RIP Apple Car. This Is Why It Died
Wired
·
1y ago
Medial
Apple has reportedly ended its car project, internally known as "Project Titan," after years of speculation and development. The company will now shift its focus to generative artificial intelligence (AI). Designing and manufacturing a car proved to be complex for Apple, who realized the need for partnerships in the automotive industry. While other tech giants are still pursuing auto projects, Apple's experiment faced challenges with executive turnovers and changing industry dynamics. Despite this setback, Apple maintains a strong presence in the automotive industry through its CarPlay infotainment system, which is widely adopted by major car manufacturers.
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German regulator ends probe into Google's in-car services after agreed remedies
Economic Times
·
3m ago
Medial
Germany's Federal Cartel Office concluded its investigation into Google's in-car services after Google proposed remedies addressing competition concerns. The agreement enables the integration of competitor apps and maps into Google's platform, potentially changing market dynamics positively. This resolution came after the regulator deemed Google's bundled in-car maps and infotainment systems could hinder competition. Google's commitments, established following raised concerns and a potential ban, aim to ensure fair competition in the sector.
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Bumble's new CEO talks about her critical mission: to spice things up at the company
TechCrunch
·
1y ago
Medial
Since Bumble's IPO, the dating service has faced investor cooling and user fatigue. Lidiane Jones, the new CEO, aims to reverse these trends by leveraging AI, focusing on margin expansion, and restoring joy to the user experience. She plans to relaunch the Bumble app in the second quarter by giving women more control and flexibility, enhancing security and AI features, and making the app more engaging and joyful. Bumble also aims to expand its friendship capability and reignite community-based marketing to acquire new users. The possibility of spinning off Bumble for Friends as a standalone entity is still being considered.
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Apple looks to add AI search to Safari in potential blow for Google
Economic Times
·
2m ago
Medial
Apple is exploring integrating AI-powered search into its Safari browser, potentially challenging Google's dominance in the search market. This move could significantly impact Google's revenue from its position as the default search engine on Safari, a role for which it pays Apple $20 billion annually. With Apple's wide device user base and AI partnerships, this shift could reshape the search landscape and alter advertising budgets currently dominated by Google, amid increasing competition from AI startups.
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The Apple Car is dead, and Elon Musk is speaking at its funeral
Business Insider
·
1y ago
Medial
Apple has reportedly decided to abandon its electric car project after a decade of development. This news prompted Elon Musk, CEO of Tesla, to post a tweet with a saluting face and cigarette emoji, apparently bidding farewell to Apple's effort in the electric car market. While Apple employees involved in the project will be moved to the company's AI division, it is also expected that there may be layoffs among engineers and car designers. Apple's electric car project faced numerous challenges, including leadership changes and launch delays. Musk has previously expressed skepticism about Apple's ability to successfully enter the complex and competitive electric car market.
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