Apple to Spend $1 Billion Per Year on Movies to Release in Theaters
Apple plans to spend $1 billion a year on movies that will release in theaters in the hopes of raising its profile in Hollywood and marketing Apple TV+.
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TikTok CEO Stresses App’s Separation from China
Chew is seeking to dissuade Congress that TikTok’s Chinese parent ByteDance poses a national security risk.
Block Shares Crash 20% After Short Seller Alleges Fraud
Hindenburg Research claimed that the company’s Cash App business failed to identify and stop fraud.
SEC Sues Tron Founder Justin Sun, Lindsay Lohan and Other Celebrities Over Crypto
The SEC accused Sun, the Tron Foundation, BitTorrent Foundation and Rainberry of scheming to distribute billions in crypto assets and artificially pumping up trading volume.
Kraken To Suspend ACH Transfers
The collapse of Silvergate and other banks connected to the crypto industry has limited the fiat-crypto bridges available to crypto companies.
Coinbase Says it Received Wells Notice From SEC
Coinbase said it believes that potential enforcement actions would focus on its spot market, staking service Coinbase Earn, prime brokerage service Coinbase Prime and Coinbase Wallet products.
Virgin Orbit Nears $200 Million Funding Deal
Virgin Orbit will resume some operations on Thursday, the company said
Amazon Tests Palm-Scanning Technology at Panera Bread
The service, called Amazon One, will allow customers to connect their palmprint to their credit or debit cards, as well as to a Panera loyalty program.
Toyota Phases Out Amazon Alexa in Vehicles, Explores ChatGPT
The auto giant has already dropped support for an app that allowed users to operate Alexa in their cars through their smartphones in 2023 models such as the Corolla, Prius and RAV4.
Tencent President Martin Lau to Step Down From Board
Tencent also said its revenue grew only 0.5% in the quarter through December, when China's Covid-19 lockdowns were hurting many businesses.
TikTok CEO to Pledge App Will be Free From Any Government Influence
In prepared remarks to Congress, CEO Shou Zi Chew promised the app would firewall U.S. user data.
Nvidia CEO Says Generative AI is an ‘iPhone Moment'
Nvidia Founder and CEO Jensen Huang has carved out a leading position in the AI chip market, and now he's aiming to expand that in the cloud.
OpenAI Temporarily Shuts Down ChatGPT After Privacy Bug Leaks Users’ Chat Histories
The incident illustrates the potential privacy shortcomings of AI tools.
New Report to Australian Government Alleges ByteDance Poses Disinformation Threat
The report submitted to the Australian federal parliament's select committee on foreign interference said TikTok shows users more pro-China content than other apps.
FTX Sues Liquidators of Bahamas Unit
The company also delayed its auction for LedgerX, the U.S. derivatives exchange it bought in 2021.
Flagstar Acquires Most of Signature Bank, Excluding Crypto Business
The bank had a significant crypto business with clients that included Coinbase and Gemini.
Amazon Laying Off 9,000 More Employees, Including in AWS, Ads, Twitch
The layoffs will take place in the coming weeks, CEO Andy Jassy said, adding to the 18,000 employees Amazon had already cut starting in November.
FDIC Sets Deadline for SVB Bids
The FDIC said it has gotten substantial interest for the bank, though it noted it could still be parceled out.
China Investigates Former Head of Top Chipmaking Firm for Graft
Tsinghua Unigroup Chairman Zhao Weiguo’s case has been handed over to prosecutors, the latest example of high-profile corruption allegations in China’s $100 billion chip effort.
Rippling Raises $500 million to Ease SVB-Linked Payroll Crunch
The round shows how the sudden failure of Silicon Valley Bank snarled the network of relationships between tech startups and the financial institution.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
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