Apple

The “first iPhones designed from the ground up” for AI were introduced Monday.

Apple has officially unveiled its iPhone 16 and iPhone 16 Plus, introducing a range of updates including improved camera controls, a longer battery life, and the much-anticipated “Apple Intelligence” AI capabilities.

Apple and Nvidia are reportedly in discussions to join a major funding round for OpenAI. The new round of investment could push the ChatGPT-maker’s valuation above US$100 billion.

Apple shares opened down 8%, Microsoft 5%, Nvidia 14%, Google parent Alphabet 6%, Amazon 8%, Facebook parent Meta 7% and Tesla 11%.

Large technology stocks flails as lower interest rates appear on deck and investors view a Trump presidency as increasingly likely.

Apple can generate a whopping $485 billion in iPhone revenues over the next two years as users upgrade to AI-enabled devices, according to Morgan Stanley analyst projections.

Current and former employees listed pregnancy and family responsibilities as several reasons why married women are not hired at the plant, according to the report. Foxconn denies any discrimination.

Analysts expect Microsoft and Nvidia to become more profitable than Apple before the end of the 2020s.

Apple joined the great AI arms race this week after months of lagging behind big tech rivals like Google, Microsoft and Meta, unveiling a series of products juiced with artificial intelligence that it has pitched as a more secure, privacy-focused alternative to how its competitors process requests in the cloud.

Hours after Apple announced “Apple Intelligence” — its new generative artificial intelligence initiatives — billionaire Elon Musk blasted the announcement in a series of tweets. If Apple “integrates OpenAI at the OS level,” all Apple devices will be banned at his companies, Musk says.