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Amazon's Echo Spot device powered by its Alexa digital assistant (Robert Lever/Getty Images)

Amazon’s planning to launch a generative-AI-infused “Alexa+” subscription to reboot its devices division

Amazon’s rolling out a major update to Alexa — a new subscription-based service powered by generative AI.

Nia Warfield

Amazon announced a major update to its Alexa digital assistant on Wednesday, introducing “Alexa+,” a subscription-based service powered by generative AI that will roll out next month. The new Alexa will feature enhanced capabilities such as booking reservations, purchasing concert tickets, providing personalized recipe suggestions, and even remembering dietary restrictions. It’s designed to learn users’ routines and proactively assist with everyday tasks. Amazon will charge $19.99 per month for the service or offer it free to Prime members. The service will be available on most Alexa devices, beginning with the Echo Show.

This update comes as Amazon works to revitalize Alexa, which has struggled to generate meaningful profit despite selling over 500 million devices. The company has lost billions on its devices division, which includes the Echo and Kindle. With the introduction of Alexa+, Amazon hopes the subscription model will help cover the high costs of AI development and turn the Alexa business profitable.

Amazon isn’t the only tech giant infusing AI into its smart assistants. Last year, Apple rolled out its Apple Intelligence platform to enhance Siri, with goals of making it more conversational and competitive with ChatGPT. But recent upgrades have faced delays, with some features, originally expected in April, now likely postponed until later this year.

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Tesla Will Open Up Its Chargers To Other Brands, In Order To Receive Federal Subsidies

After a big pullback for EVs, climbing gas prices are causing drivers to eye them again

Still, the market is much different than it was the last time oil prices were this high.

business
Rani Molla

How Tesla quietly wound up owning a small piece of SpaceX

Tesla is converting its recent $2 billion investment in Elon Musk’s AI company, xAI, into a small ownership stake in SpaceX — just months before the rocket maker’s highly anticipated IPO.

Here’s what happened: Tesla announced its xAI investment in late January, after a shareholder proposal to invest fell short last year. Several days later, xAI merged with SpaceX. All three companies are headed by Musk.

Now, regulatory filings with the Federal Trade Commission show Tesla converting that investment into a small stake in SpaceX, formalizing the financial link between the companies ahead of the rocket maker’s IPO. SpaceX is expected to go public this year at a valuation some speculate could top $1.75 trillion, potentially making it the biggest company to ever go public. (The current record holder, Saudi Aramco, went public at a more than $1.7 trillion valuation in 2020.)

While the size of Tesla’s stake wasn’t available, Bloomberg reports that the investment would equate to ownership of less than 1%.

While SpaceX and Tesla have engaged in related-party transactions over the years, Tesla had not previously disclosed an equity investment in SpaceX.

Now, regulatory filings with the Federal Trade Commission show Tesla converting that investment into a small stake in SpaceX, formalizing the financial link between the companies ahead of the rocket maker’s IPO. SpaceX is expected to go public this year at a valuation some speculate could top $1.75 trillion, potentially making it the biggest company to ever go public. (The current record holder, Saudi Aramco, went public at a more than $1.7 trillion valuation in 2020.)

While the size of Tesla’s stake wasn’t available, Bloomberg reports that the investment would equate to ownership of less than 1%.

While SpaceX and Tesla have engaged in related-party transactions over the years, Tesla had not previously disclosed an equity investment in SpaceX.

Southwest Airlines At San Diego International Airport

Southwest stopped fuel hedging a year ago. Whoops.

It’s been a year since Southwest said it would end its fuel-hedging program. Oil’s moves this year make that decision look like a mistake.

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