Nintendo under pressure

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter.

Top Stories

Blackstone, KKR prepare for AI: The investment firms are in talks with Alphabet to give companies they own access to Google’s AI tools. Read what spurred the discussions.

Trillion-dollar club: Samsung became the second Asian company in history, after TSMC, to surpass $1 trillion in market value after another day of furious buying of memory chip stocks. It’s now worth roughly as much as Walmart.

Apple’s AI equanimity: The iPhone maker will let users choose from a range of AI models to power features on its devices. This is how it fits with the company’s strategy.

Must Reads

Brockman Says Musk’s Lack of AI Knowledge Was Concern at OpenAI

OpenAI President Greg Brockman testified that Elon Musk called a ChatGPT predecessor “stupid,” and told the researchers developing the model that “kids on the internet could do a better job of it,” raising concerns among his co-founders that the billionaire lacked the patience to run the company.

Anthropic Unveils AI Agents to Field Financial Services Tasks

Anthropic PBC unveiled a set of new artificial intelligence agents designed to handle a broader mix of financial services tasks, part of the company’s push to win over Wall Street.

AMD Gives Upbeat Forecast After AI Data Center Demand Surges

Advanced Micro Devices Inc., the leading challenger to Nvidia Corp. in AI computing chips, gave a surprisingly robust sales forecast, showing that it’s cashing in on a flood of data center spending.

Bloomberg Podcast

Beyond The Brief

Nintendo’s recent successes have done little to revive its flagging stock, which is now on a five-month decline, its worst run since the dark days of the Wii U. Investors appear focused on one metric — the Switch 2’s price — and pressure is building on the company to raise that in order to protect margins. Takashi Mochizuki and Alice French look ahead to an important earnings report this Friday in today’s Tech In Depth essay.

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Before You Go...

Griffin Says He’s Doubling Down on Miami Amid Mamdani Feud

Ken Griffin said he plans to make Citadel’s Miami tower even bigger after New York Mayor Zohran Mamdani name-checked the billionaire in his pledge to charge more taxes on second homes.

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