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Apple event
Apple CEO Tim Cook, presenting in dad shoes, clearly understood the assignment. (Photo by Justin Sullivan/Getty Images)

Apple is starting to show its age

Today’s event, complete with discussion of sleep apnea, showed Apple is catering to older customers. Bye-bye skydiving and rock climbing. Hello heart monitoring and fall detection.

Apple is almost 50 years old. It’s acting like it.

During Apple’s hardware event today, Apple felt older than ever. To wit: Company executives mentioned “sleep apnea” a dozen times and introduced a new feature on the Apple Watch that measures breathing disturbances. The AirPod demo discussed “hearing loss” way more than sound or audio quality, as they showed off noise reduction features as well as a clinically validated hearing test. Indeed, the AirPods Pro 2 will now double as hearing aids, which will benefit anyone with a hearing impairment, regardless of age.

Generally, a brand that once felt young and hip seemed to be acting its age, trading in super sexy styles for features that seemed to be genuinely useful for a user base that is getting older. Bye-bye skydiving and rock climbing. Hello heart monitoring and fall detection. Apple’s preoccupation with style seems to have given way to a focus on durability and substance. The company’s obsession with high-end materials — sapphire, titanium, ceramic — felt more in line with renovating a bathroom than promoting the next hot technology.

But rather than trying to pretend otherwise, the iPhone maker seems to be leaning in. Apple and many of its customers are aging, and it’s meeting them where they are. And as they say, with age comes wisdom.

Today Apple laid out the biggest update to its flagship iPhone to date: the iPhone 16 has incorporated AI, or Apple Intelligence, throughout the device. If the demos are to be believed, the new iPhone will be able to anticipate your needs, understand what you say, and do things for you by pairing artificial intelligence with the fact that Apple knows everything about you. In other words, it will be a far cry from the Siri of yesterday.

That means some potentially very helpful and time-saving features: Being able to tell Siri to find and text someone images from an event. Having it play music or add dates to your calendar based on what comes up in your text conversation. Giving you context about where you are or what you’re looking at through your phone’s screen. Prioritizing and summarizing your notifications. (Apple was sure to emphasize privacy at every step because all this stuff sounds very invasive, too.)

Of course, that all means Apple could further lock people into its ecosystem. You can almost hear the antitrust case writing itself. But until then, Apple seems to be aging gracefully.

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Rani Molla

After Tesla earnings, prediction markets think unsupervised FSD is less likely than ever to be rolled out this year

Tesla’s unsupervised full self-driving technology, which would autonomously ferry passengers around without a human driver having to pay attention, is supposed to help catapult the electric vehicle company’s valuation further into the stratosphere. It was also supposed to be available this year, but prediction markets participants, as well as former Tesla self-driving leaders, no longer think that will happen.

On Teslas earnings call this week, CEO Elon Musk said the company now had “clarity” on achieving unsupervised full self-driving — something he’s repeatedly said would be available at least in some markets this year.

The comments seemed to give Polymarket prediction markets participants some clarity. There, the market-implied probability that Tesla will release unsupervised FSD this year reached its lowest point since the event contract was opened in May.

The odds of it happening had been pretty high up until late June, when Tesla’s long-awaited robotaxi launched with a safety driver in the passenger seat. The unsupervised FSD event contract specifies the feature can have “no requirement for human intervention.”

tech
Rani Molla

Banks prepare record $38 billion debt financing to fund Oracle-tied data centers

Banks led by JPMorgan and Mitsubishi UFJ are preparing a $38 billion debt offering to fund two Oracle-tied data centers in Texas and Wisconsin, Bloomberg reports. The projects, developed by Vantage Data Centers, will support Oracle’s $500 billion Stargate AI infrastructure push with OpenAI and Nvidia.

The loans — $23.25 billion for Texas and $14.75 billion for Wisconsin — are expected to mature in four years, price about 2.5 percentage points higher than the benchmark rate, and mark the largest AI infrastructure financing to date.

Oracle executives recently said that the company anticipates cloud gross margins will reach 35% and that it expects to see $166 billion in cloud infrastructure revenue by FY 2030.

Oracle is up 1.5% premarket.

The loans — $23.25 billion for Texas and $14.75 billion for Wisconsin — are expected to mature in four years, price about 2.5 percentage points higher than the benchmark rate, and mark the largest AI infrastructure financing to date.

Oracle executives recently said that the company anticipates cloud gross margins will reach 35% and that it expects to see $166 billion in cloud infrastructure revenue by FY 2030.

Oracle is up 1.5% premarket.

tech
Rani Molla

Google rises on official announcement of Anthropic deal worth “tens of billions”

Google has made its deal to expand AI compute to Anthropic, reported earlier this week by Bloomberg, official. In order to train and serve its Claude model, Anthropic has agreed to pay Google Cloud “tens of billions of dollars” to access up to 1 million tensor processing units, or TPUs, as well as other cloud services.

Google, of course, has a 14% stake in Anthropic, making this one of the many circular AI deals happening at the moment.

“Anthropic and Google have a longstanding partnership and this latest expansion will help us continue to grow the compute we need to define the frontier of AI,” Anthropic CFO Krishna Rao said in the press release. “Our customers — from Fortune 500 companies to AI-native startups — depend on Claude for their most important work, and this expanded capacity ensures we can meet our exponentially growing demand while keeping our models at the cutting edge of the industry.”

The announcement has sent Google up again, more than 1% premarket.

tech
Rani Molla

Report: Snap seeking $1 billion to finance its AR glasses division in “existential” fundraise

Snap is down more than 1% this morning following news that the company is attempting to raise $1 billion for its AR glasses unit in what someone told Sources.news was an “existential” fundraise.

A Snap spokesperson countered, “We do not need to raise money to execute against our plans to publicly launch Specs in 2026, but remain open to opportunities that could accelerate our growth.”

Multiple investors are involved in the talks, including Saudi Arabia’s Public Investment Fund, according to Sources.news. The report also noted that Snap plans to turn the unit that makes its Specs glasses into an independent subsidiary à la Google’s Waymo “that can continue raising capital from investors.”

Snap plans to produce about 100,000 units of next year’s Specs, pricing them around $2,500.

The beleaguered stock saw quite a bit of retail interest last month, amid r/WallStreetBets chatter that its low nominal price made it a potential acquisition target.

Multiple investors are involved in the talks, including Saudi Arabia’s Public Investment Fund, according to Sources.news. The report also noted that Snap plans to turn the unit that makes its Specs glasses into an independent subsidiary à la Google’s Waymo “that can continue raising capital from investors.”

Snap plans to produce about 100,000 units of next year’s Specs, pricing them around $2,500.

The beleaguered stock saw quite a bit of retail interest last month, amid r/WallStreetBets chatter that its low nominal price made it a potential acquisition target.

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