Tech and AI Updates: Folding iPhones, OpenAI Concerns, and Wiz CEO's IPO Decision

OWITH.ai - Only What's Important to Hear around AI and Tech

Good morning from OWITH.ai: the podcast that gives you only what's important to hear in AI and tech world. Apple is reportedly working on a folding iPhone, with a potential launch in 2026. The device is said to fold top-down like a flip-phone, aiming to address consumer demand in China and compete with brands like Samsung, Honor, and Xiaomi in the foldable phone market. Meanwhile, Apple is facing an investigation by the Spanish competition authority for allegedly imposing unfair trading conditions on developers who want to get apps into its app store. In other news, cybersecurity firm CrowdStrike experienced a software update crash, Alphabet invested $5 billion into Waymo, and the Kids Online Safety Act heads for a Senate vote.Shifting focus to OpenAI's future, concerns arise about their financial losses, lack of competitive advantage, and increasing competition from companies like MetaAI offering similar technology for free. Doubts linger about OpenAI's ability to thrive in this competitive landscape and raise more funds. Questions also loom over their unique technology, profitability, and long-term viability, suggesting challenges ahead similar to those faced by WeWork. Additionally, other AI companies, like Anthropoc, may face similar difficulties in the future.GM-owned Cruise initially introduced the Cruise Origin as a futuristic vehicle without steering wheels or pedals but recently announced an indefinite delay of its production. This shift aims to use the Chevy Bolt for self-driving efforts due to cost and regulatory challenges. Competitors like Waymo and Zoox continue to invest in robo-taxi vehicles without steering wheels. In the venture deals space, various companies across different industries secured significant funding rounds. In people news, Dell Technologies Capital hired Barrel Kfir as an investing partner and Techstars promoted Jonathan Geehan to CFO.Wiz CEO Assaf Rappaport turned down offers from Google parent Alphabet to acquire his cybersecurity startup, opting instead to pursue an IPO. This decision may have been influenced by concerns about antitrust regulations and the desire to maximize value as a public company. J.D. Vance's economic policies as a potential vice presidential nominee could lead to a tighter labor market and protectionism, impacting wages and inflation. Other news includes Elon Musk expressing concerns about the potential impact of a Trump win on Tesla, including the repeal of EV tax credits and tariffs on auto imports from Mexico. Tesla reported disappointing profits, causing shares to fall.

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