If you haven't subscribed to our new newsletter Tech Memo, what are you waiting for?
But first, can you Google ChatGPT this?
Google seems to be learning that the hard way, as the new tech is gaining ground on one of its crown jewels.
Cue also said AI tools like OpenAI and Perplexity AI would eventually supplant traditional search engines, and Apple will offer them to Safari users in the future.
Google investors took the news hard, with shares dropping more than 8% on Wednesday.
Cue has a vested interest in Google's search business, since Google pays Apple at least $20 billion a year to make its search engine the default on the iPhone. Still, in theory, Apple might be able to replace some or all of that money with payments from the OpenAIs of the world.
(Cue's comments came while testifying in the federal antitrust suit against Google's parent company, Alphabet. When it rains, it pours.)
The AI boom obviously hasn't been all bad for Google. The interest in the tech gave it the green light to invest billions in new development. The results weren't always great, but it largely seems happy with the progress made on things like its AI Overviews.
But as much as it tries to reshape itself, the progress made by its younger, smaller AI rivals is becoming undeniable.
A very, very old player has newfound success leveraging AI. IBM is full speed ahead on its AI strategy, and Wall Street is eating it up, writes BI's Matthew Fox.
The company's stock is up almost 15% this year, far outpacing the tech-heavy Nasdaq 100, which is down 5%. At its recent conference, CEO Arvind Krishna said its generative AI business is now worth $6 billion.
IBM's focus is helping companies adopt AI, and has the added benefit of an open-source approach. That allows it to work with clients regardless of the AI tools they prefer, Wedbush analyst Dan Ives told Matthew.
(If you're looking for more tech coverage like this, subscribe to our upcoming tech newsletter Tech Memo. Alistair Barr will be running the show, and he does a much better job of covering tech than me.)
The White House is expected to announce a trade deal with the UK on Thursday. A Downing Street spokeswoman told BI that talks between the two countries had been "continuing at pace" and the Prime Minister, Keir Starmer, would provide an update later on Thursday.
The central bank held interest rates steady as expected, although Chairman Jerome Powell had faced calls from President Trump and members of his administration to lower them. Powell has stressed waiting to see how tariffs affect the economy.
Carter McIntosh, a 28-year-old associate, died of a toxic mix of drugs including fentanyl and cocaine, an autopsy revealed. His death in January sparked widespread backlash against the bank's work culture.
Tech companies like Google, Amazon, and Microsoft are doubling down on performance-based rewards, with top performers receiving larger payouts and low performers facing the heat. Meanwhile, new-hire offers are being reduced.
The Instagram gold rush isn't in the grid anymore — it's in your DMs. Doing Things, the company that owns meme accounts like Overheard, told BI its strategy to get users to share its content.
The Palantir-alumni-founded startup wants to help governments and companies control their data and has plans to expand into the defense sector. Its current seed round has raised $20 million.
Working for Tesla was Matthew LaBrot's dream job, but he was fired after publishing a website protesting Elon Musk. In an interview with BI, he shared his concern for how the billionaire is affecting Tesla's brand and sales — and why he still believes in the company anyway.
They know a Disney vacation is pricey, but they're going anyway. Disney World visits are surging, US parks revenue soared last quarter, and soon, they'll have a new magical destination to add to the list: Abu Dhabi.
That's because it is. Companies are using "bait-and-switch" tactics to lure customers in with one price, only to tack on extra fees and make the total nowhere near what was initially expected. It's so common that customers often throw their hands up and pay anyway.
Dan DeFrancesco, deputy editor and anchor, in New York. Hallam Bullock, senior editor, in London. Grace Lett, editor, in Chicago. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Ella Hopkins, associate editor, in London. Elizabeth Casolo, fellow, in Chicago.
