Elon Musk says he may “ban” Apple devices at his companies after OpenAI announcement

Musk called the move “unacceptable” and followed up with several Tweets blasting the xAI competitor.

6/10/24 5:25PM

Elon Musk criticized Apple, saying the iPhone maker’s newly announced deal with OpenAI could represent a privacy and security threat to his six companies.

“If Apple integrates OpenAI at the OS level, then Apple devices will be banned at my companies,” wrote the CEO. “That is an unacceptable security violation.”

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— Elon Musk (@elonmusk) June 10, 2024

Apple on Monday said it planned to integrate AI features into its latest iOS, and that a new partnership with OpenAI would supercharge the effort.

Musk — who owns xAI, an OpenAI competitor valued at $24B — clearly wasn’t excited about the deal.

“It’s patently absurd that Apple isn’t smart enough to make their own AI, yet is somehow capable of ensuring that OpenAI will protect your security & privacy,” he wrote. “Apple has no clue what’s actually going on once they hand your data over to OpenAI. They’re selling you down the river.”

Unlike, presumably, xAI.

Apple reports Q4 earnings and revenue slightly above Wall Street estimates

The iPhone maker reported its FY 25 fourth-quarter earnings Thursday.

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#10

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Tesla just recalled its beleaguered Cybertruck for the 10th time since the vehicle was introduced two years ago. This time the company recalled about 6,000 of the “apocalypse-proof” vehicles due to what the National Highway Traffic Safety Administration says is an improperly installed “optional off-road light bar accessory” that could become disconnected from the windshield while driving, and could “create a road hazard for following motorists and increase their risk of a collision.”

CEO Elon Musk once said he could sell up to 500,000 of the stainless steel behemoths a year. In the first three quarters of this year, the company has sold only about 16,000.

Jon Keegan

FUNGIBLE FLEET

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Microsoft: Forget what we said, we are going to keep spending on capex

Last quarter, the company offered guidance that its capex spending would be lower in the second half of the fiscal year. Yesterday it said spending would go up.

Microsoft Celebrates Its 50th Anniversary With Copilot AI Event

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Analysts lower Meta price targets after social media giant says AI capex will keep climbing

Meta may have posted record revenue Wednesday but the stock is deeply in the red in the wake of its third-quarter earnings report, after the social media company said that its capital expenditure on AI would continue to rise.

The earnings prompted a number of analysts to lower their price targets or downgrade the stock.

RBC Capital lowered its price target to $810 from $840. Bank of America Securities lowered its price target to $810 from $900. Barclays, JPMorgan, Deutsche Bank, and Wells Fargo also lowered their price targets on the company.

Earlier today, Benchmark downgraded its rating to a “hold” from a “buy.” Oppenheimer downgraded the company to “perform” from “outperform,” saying the “significant investment in Superintelligence despite unknown revenue opportunity mirrors 2021/2022 Metaverse spending.” Ouch.

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Capex marks the spot

17h

Big Tech capex approaches $100 billion and Dan Ives loves it

AI spending shows no signs of flagging.