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Rani Molla

Apple and its shareholders stand firm on DEI

Apple shareholders today rejected a shareholder proposal from conservative think tank National Center for Public Policy Research to abolish the iPhone maker’s diversity, equity, and inclusion “program, policies, department and goals,” preliminary voting tabulation showed.

Apple CEO Tim Cook at the shareholder meeting today:

We've never had quotas or targets for Apple.  Our strength has always come from hiring the very best people and then providing a culture of collaboration, one where people with diverse backgrounds and perspectives come together to innovate and create something magical for our users time and time again.  Our unique culture enables us to create the best products and services in the world.  

Now, as the legal landscape around these issues evolves, we may need to make some changes to comply.  But our North Star of dignity and respect for everyone, and our work to that end will never waver.  We'll continue to work together to create a culture of belonging where everyone can do their best work, and we'll remain committed to the values that have always made us who we are.

Apple’s board had previously recommended voting against the proposal, saying it’s “unnecessary” and that it “inappropriately attempts to restrict Apple’s ability to manage its own ordinary business operations, people and teams, and business strategies.”

The move puts Apple at odds with the Trump administration and the prevailing corporate trend of dismantling DEI initiatives — or at least not talking about them. Apple joins the ranks of Costco, which last month defeated a similar initiative by the same group, and Delta Air Lines in standing behind its DEI efforts.

Apple recently got on the good side of the Trump administration, with a commitment to spend $500 billion expanding in the US over his term. Let’s see how this one lands.

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Humanoid robot maker Apptronik raises $520 million

Apptronik, an Austin, Texas-based robot manufacturer, said it has closed out its Series A fundraising round, raising $520 million. The fundraising is an extension of a $415 million round raised last February, and included investments from Google, Mercedes-Benz, AT&T, and John Deere. Qatar’s state investment firm, QIA, also participated in the fundraising round.

Apptronik makes Apollo, a humanoid robot targeted for warehouse and manufacturing work. The company is one of several US robotics companies that are racing to apply generative-AI breakthroughs to humanoid robots, in anticipation of a new market for robots in homes and workplaces.

Apptronik makes Apollo, a humanoid robot targeted for warehouse and manufacturing work. The company is one of several US robotics companies that are racing to apply generative-AI breakthroughs to humanoid robots, in anticipation of a new market for robots in homes and workplaces.

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Ives: Microsoft and Google’s giant capex plans are worth it

Don’t mind the AI sell-off, says Wedbush Securities analyst Dan Ives, who thinks fears around seemingly unfettered Big Tech capex budgets are unfounded, especially in the case of Microsoft and Google. Together, the two hyperscalers are slated to spend around $300 billion on the purchases of property and equipment this year as they double down on AI infrastructure, but he says both have already shown that they can turn the spending into revenue and growth.

“They are reshaping cloud economics around AI-first workloads that carry higher switching costs, deeper customer lock-in, and longer contract durations than before,” Ives wrote, adding that these giant costs will be spread out over time and set the companies up for success in the long run. Per Ives:

“While near-term free cash flow optics remain noisy, the platforms that invest early and at scale are best positioned to capture durable share, pricing power, and ecosystem control as AI workloads mature. Over time, we expect utilization leverage to turn today’s elevated investment into a meaningful driver of long-term value creation.”

“They are reshaping cloud economics around AI-first workloads that carry higher switching costs, deeper customer lock-in, and longer contract durations than before,” Ives wrote, adding that these giant costs will be spread out over time and set the companies up for success in the long run. Per Ives:

“While near-term free cash flow optics remain noisy, the platforms that invest early and at scale are best positioned to capture durable share, pricing power, and ecosystem control as AI workloads mature. Over time, we expect utilization leverage to turn today’s elevated investment into a meaningful driver of long-term value creation.”

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Meta reportedly expands Hyperion data center site, purchasing an additional 1,400 acres

Construction is humming along on at Meta’s gargantuan Hyperion data center in Richland Parish, Louisiana.

And Meta is seemingly already moving ahead with plans to greatly expand the site.

A new report from Forbes revealed that Meta has purchased an additional 1,400 acres adjacent to the construction site, increasing the overall size of the project by 62%. The massive size of the site is nearly 5 miles long and 1 mile wide.

Meta CEO Mark Zuckerberg has said that the site “will be able to scale up to 5GW over several years.”

Meta CEO Mark Zuckerberg has said that the site “will be able to scale up to 5GW over several years.”

$290K
Rani Molla

Tesla has been quoting the price of its long-awaited long-range Semi truck at $290,000, Electrek reports. The $290,000 price point represents a significant increase from the original $180,000, roughly 60% higher. However, it’s still well below the industry average for Class 8 electric semi trucks. California Air Resources Board data shows that the average cost of a zero-emission Class 8 truck was $435,000 in 2024, meaning Tesla is undercutting competitors by about $145,000.

On its last earnings call, Tesla said it would start production on the “designed for autonomy” electric commercial truck this year.

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