Half of the 10 most valuable companies on Earth are making metaverse hardware

August 11, 2024 Coin Telegraph

Apple

The metaverse is dead, long live the metaverse.

Microsoft is reportedly looking to take on Apple’s Vision Pro headset with new hardware it would develop in partnership with Samsung. This would mean that five of the ten most valuable companies by market capitalization — Apple, Google, Meta, Microsoft, and Nvidia — are currently developing new metaverse gear.

The Microsoft news comes from a local outlet in South Korea, The Elec. According to the report, Microsoft plans to order hundreds of thousands of OLED panels from Samsung for a device to be mass produced in 2026.

That’s a ways off and, according to The Verge, the device will be a headset meant for spatial computing (as opposed to virtual reality). The Verge also indicated that it was specifically not meant for the metaverse — but, any display device, including a computer monitor, can interface with “the metaverse,” spatial computing devices just offer a different level of immersion.

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4 years in, MicroStrategy’s Bitcoin gamble beats Warren Buffett’s warning

August 11, 2024 Coin Telegraph

American Express

MicroStrategy’s stock value is up by 1,000% since its first Bitcoin purchase, while Warren Buffett and Berkshire Hathaway have missed the boat.

MicroStrategy purchased its first Bitcoin (BTC) stash on Aug. 10, 2020, becoming the first public-traded company to adopt the cryptocurrency as its primary treasury reserve asset. Four years later, the bold move has evolved into a defining strategy for the company that has outpaced even the returns of Warren Buffett's Berkshire Hathaway.

As of Aug. 10, 2024, MicroStrategy had 226,500 BTC worth $13.771 billion in reserves, which it acquired at an average cost of around $37,000. With Bitcoin currently trading at approximately $60,500, MicroStrategy is now sitting on unrealized profits of about $5.39 billion.

Despite the substantial gains, Michael Saylor's company has maintained its Bitcoin holdings, choosing not to liquidate any of its accumulated assets. It has expressed its intention to continue accumulating Bitcoin, further evidenced by its most recent purchase on Aug. 1.

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Apple used Google’s chips to train its AI — where does that leave Nvidia?

August 10, 2024 Coin Telegraph

Apple

Nvidia’s shrinking market cap could signal a shift in the generative AI developer’s market.

Apple had the same choices as any other technology company with money to burn when it came to training its artificial intelligence models. It could have used its own chips, conducted training via cloud infrastructure, or gone the popular route and just bought billions of dollars' worth of Nvidia chips. Instead, it made a deal with the company that owns Google.

Apple has been accused of being late to the artificial intelligence party. While its peers were busy pivoting to generative AI and pouring billions of dollars into training chips and cloud services, Apple’s public-facing image focused on iPhone sales and “spatial computing.”

This led analysts and pundits to worry over whether the house that Steve Jobs built was falling behind its closest competitors. Then, in June of 2024, the market itself seemed to confirm those fears when Nvidia passed up Google, Apple, and Microsoft to become the most valuable company in the world.

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$277,000,000,000 in Cash Hoarded by Berkshire Hathaway As Warren Buffett Dumps Apple, Bank of America

August 3, 2024 The Daily Hodl

Apple

Berkshire Hathaway is now holding onto a record $277 billion in cash as the economy teeters. Second quarter results show the investing giant led by Warren Buffett sold $75.5 billion worth of stock on a net basis in the period. The new round of selling brought the total amount of stocks sold by Berkshire in […]

The post $277,000,000,000 in Cash Hoarded by Berkshire Hathaway As Warren Buffett Dumps Apple, Bank of America appeared first on The Daily Hodl.

Crypto Analyst Predicts Incoming Bitcoin Parabolic Rally, Says BTC at Point Where Things Get Exciting

Apple Intelligence may be absent from initial iOS 18 rollout: Report

July 29, 2024 Coin Telegraph

Apple

Apple’s new AI features will potentially arrive a few weeks later in October, giving developers more time to iron out potential bugs.

Apple’s eagerly awaited artificial intelligence upgrade dubbed Apple Intelligence could miss its planned rollout with the new suite of iPhone 16s and its operating system iOS 18 in September.

Instead, Apple Intelligence will likely arrive a few weeks later in October, as part of a follow-up software update, according to a July 28 report for Bloomberg, citing anonymous sources close to the matter.

Despite the delay, the technology giant still plans to make Apple Intelligence available to software developers as early as the week starting July 29, with the release of iOS 18.1 and iPadOS 18.1 beta versions.

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TSMC becomes first Asian company to reach $1T as AI demand surges

July 20, 2024 Coin Telegraph

TSMC becomes first Asian company to reach T as AI demand surges

Apple

The company is now worth more than Broadcom and closing in on Meta.

Taiwan Semiconductor Manufacturing Company Limited, more commonly known as TSMC, became the first Asian firm to reach a market capitalization of more than a trillion dollars as it briefly surpassed Berkshire Hathaway on June 20 to become the eight most valuable company in the world.

The company’s quiet rise comes on the wings of its massive portfolio of tech and manufacturing giants who source its semiconductors.

TSMC is the world’s largest semiconductor manufacturer. Its top customers include Apple, AMD, Intel, Nvidia, Intel, and Qualcomm. However, Apple is by far its largest client, thanks to the use of TSMC semiconductors in iPhones, accounting for around a fifth of its total revenue.

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Meta won’t launch new AI products in EU, citing ‘regulatory uncertainty’

July 18, 2024 Coin Telegraph

Apple

The door is now wide open for Google and Microsoft to gain first movers' advantage over the entire continent.

Meta is the latest US-based tech giant to pause artificial intelligence releases in the European Union. The company joins Apple, who in June announced that it would be withholding several AI-powered iPhone features from customers in the EU.

Neither company, so far, has given a timeline or described what, exactly, needs to happen for the embargoes to lift, but both companies have cited “regulatory uncertainty” as the catalyst.

In a statement sent exclusively to Axios on July 17, a Meta spokesperson said:

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ChatGPT users on macOS shocked to learn chats were stored unencrypted

July 5, 2024 Coin Telegraph

Apple

The problem has since been resolved, but it begs the question of how such an oversight happened in the first place.

The partnership between Apple and OpenAI is off to a rocky start as ChatGPT users on macOS recently learned their conversations were being stored in plain-text files.

Apple has positioned itself as a company that prioritizes privacy in a market where many of its competitors reap a lion’s share of their profits by selling or repurposing user data. But, as demonstrated by data and electronics engineer Pedro José Pereira Vieito in a post on Meta’s Threads, somebody dropped the ball when it came to OpenAI’s third-party integration of ChatGPT on macOS.

ChatGPT was released on macOS in May to subscribers. General access for non-subscriber accounts was made available on June 25. Until Friday, July 5, however, the app stored all chat logs in unencrypted plain-text files on users’ hard drives.

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Mara Collapse: African Crypto Exchange Burns $16 Million for Salaries and Bonuses

July 4, 2024 Bitcoin.com

Africa

Pan-African crypto exchange Mara reportedly lost approximately $16 million out of the $23 million raised from investors. Following the exchange’s collapse, founder and CEO Chinyere Nnadi is said to have launched a new entity called Jara. Nnadi reportedly argued that the exchange depleted its raised capital by paying high salaries to attract talent. CEO Avoids […]

Crypto Analyst Predicts Incoming Bitcoin Parabolic Rally, Says BTC at Point Where Things Get Exciting

Over 50% of US hedge funds have exposure to Bitcoin as BTC crushes stocks in 2024

July 2, 2024 Coin Telegraph

Apple

Millennium Management, holding 27,263 BTC worth $1.69 billion, has allocated about 2.5% of its $67.7 billion in total assets under management to Bitcoin.

Over half of the top American hedge funds have disclosed exposure to newly launched spot Bitcoin (BTC) exchange-traded funds (ETFs) in a year, as BTC/USD has significantly outperformed major stocks and indexes.

Data from investment firm River reveals that 13 out of the top 25 United States hedge funds had owned Bitcoin ETFs by the end of Q1 2024. Notable among these is Millennium Management, which had 27,263 BTC worth $1.69 billion, making up about 2.5% of its total assets under management worth $67.7 billion.

Other significant players include Schonfeld Strategic Advisors, with 6,734 BTC, and Point72 Asset Management, with 1,089 BTC. In contrast, some top hedge funds, such as Bridgewater Associates, AQR Capital Management and Balyasny Asset Management, have yet to invest in Bitcoin ETFs.

Apple

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