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Shares of Rivian soared 40% before markets opened Wednesday after Volkswagen vowed to invest $1 billion in the struggling electric vehicle maker immediately, and a potential total of up to $5 billion as part of a software development agreement. Rivian’s market value soared close to $86 billion shortly after it went public in 2021, but it is in dire need of funding to develop its next vehicle and it is bleeding money. Volkswagen needs help with its software, where Rivian is seen as a very strong player. Volkswagen will initially invest $1 billion in Rivian Automotive Inc., with plans to invest up to an additional $4 billion. That $4 billion includes an additional investment of up to $2 billion in Rivian’s common stock that’s expected to include two installments of…

The United Nations chief this week launched global principles to combat online hate and lies and demanded that big tech companies use their power to reduce the harm they are doing to people and societies around the world. Secretary-General António Guterres also demanded that advertising and public relations companies “stop monetizing harmful content” and strengthen information integrity. He urged media outlets “to raise and enforce editorial standards” and governments to commit to creating and maintaining a free and independent media landscape. Guterres said the principles, laid out at a news conference, are the result of consultations with the 193 U.N. member nations, youth leaders, academia, the media and civil society including tech companies. The principles call on tech companies, advertisers, media and other key players to refrain from using, supporting…

European Union regulators this week leveled their first charges under the bloc’s new digital competition rulebook, accusing Apple of preventing app makers from pointing users to cheaper options outside its App Store. The European Commission said that according to the preliminary findings of its investigation, the restrictions that the iPhone maker imposes on developers using its mobile App Store had breached the 27-nation bloc’s Digital Markets Act. The rulebook, also known as the DMA, is a sweeping set of regulations aimed at preventing tech “gatekeepers” from cornering digital markets under threat of heavy financial penalties. The commission opened an initial round of investigations after it took effect in March, including a separate ongoing probe into whether Apple is doing enough to allow iPhone users to easily change web browsers, and…

General Motors this week named a veteran technology executive with roots in the video game industry to steer its troubled robotaxi service Cruise as it tries to recover from a gruesome collision that triggered the suspension of its California license. Marc Whitten, one of the key engineers behind the Xbox video game console, will take over as Cruise’s chief executive nearly nine months after one of the service’s robotaxis dragged a jaywalking pedestrian — who had just been struck by a vehicle driven by a human — across a darkened street in San Francisco before coming to a stop. That early October 2023 incident prompted California regulators to slam the brakes on Cruise’s robotaxis in San Francisco. It had previously giving the driverless vehicles approval to charge for rides throughout…

TROUBLE IN TULUM THE REAL HOUSEWIVES OF NEW JERSEY FAMILY CRISIS: COMING TO TERMS MAMA JUNE: FROM NOT TO HOT THE MACHINE WHO WOULD BE EMPIRE MY ADVENTURES WITH SUPERMAN PIM FINALLY TURNS GREEN SMILING FRIENDS GET ME OFF THIS ROLLERCOASTER TEEN MOM: THE NEXT CHAPTER ENTER THE CIRCLE ALONE OPPORTUNITY COST ALONE LOVE MEANS NEVER HAVING TO SAY... TYLER PERRY’S SISTAS THE HEIRS OF THE DRAGON HOUSE OF THE DRAGON SO THIS IS FREEDOM? GYPSY ROSE: LIFE AFTER LOCK UP…

The Supreme Court this week sided with the Biden administration in a dispute with Republican-led states over how far the federal government can go to combat controversial social media posts on topics including COVID-19 and election security. By a 6-3 vote, the justices threw out lower-court rulings that favored Louisiana, Missouri and other parties in their claims that officials in the Democratic administration leaned on the social media platforms to unconstitutionally squelch conservative points of view. Justice Amy Coney Barrett wrote for the court that the states and other parties did not have the legal right, or standing, to sue. Justices Samuel Alito, Neil Gorsuch and Clarence Thomas dissented. The decision should not affect typical social media users or their posts. The case is among several before the court this…

It all started at a Denny’s in San Jose in 1993. Three engineers — Jensen Huang, Chris Malachowsky and Curtis Priem — gathered at the diner in what is now the heart of Silicon Valley to discuss building a computer chip that would make graphics for video games faster and more realistic. That conversation, and the ones that followed, led to the founding of Nvidia, the tech company that soared through the ranks of the stock market to briefly top Microsoft as the most valuable company in the S&P 500 last week. The company is now worth over $3.2 trillion, with its dominance as a chipmaker cementing Nvidia’s place as the poster child of the artificial intelligence boom — a moment that Huang, Nvidia’s CEO, has dubbed “the next industrial…

With macOS Sequoia, Apple is redefining the landscape of desktop computing, introducing many features designed to enhance user productivity and new levels of artificial intelligence integration. From the game-changing iPhone Mirroring to significant updates in Safari and a slew of highly anticipated gaming titles, Sequoia sets a new standard for the desktop. INTRODUCING IPHONE MIRRORING One of the standout features of macOS Sequoia is iPhone Mirroring a revolutionary addition that expands the Continuity capabilities between Apple devices. With iPhone Mirroring, users can access and control their iPhones directly from their Mac, providing a unified and seamless experience. This feature replicates the iPhone’s interface on the Mac screen, complete with custom wallpapers and icons. Users can navigate through their iPhone apps, respond to notifications, and perform tasks such as drag-and-drop operations…

Meme stocks like GameStop are hot again, reviving memories of early 2021 when they turned into a craze that ended up burning many investors along with Robinhood Markets. The online brokerage was especially popular among younger generations helped propel the meme stock boom until it became so overwhelmed that it suddenly clamped down on trading. That move outraged many customers who blamed the brokerage for losses, sparking inquiries by lawmakers and triggering lawsuits. Robinhood has enjoyed a far more stable ride on the latest meme stock wave, an improvement that CEO Vlad Tenev credits to the brokerage becoming more mature and diversified as it expanded into retirement and credit card accounts. Tenev, 37, recently discussed Robinhood’s evolution and the challenges of running a publicly held company that has seen its…

Southwest Airlines, already under pressure from a hedge fund for disappointing financial results, said Wednesday that a key revenue ratio will be weaker than expected because of changes in how consumers book travel. The airline said it still expects second-quarter revenue to hit a record. However, Southwest said, revenue for each seat flown one mile – a closely watched measure of pricing power – will fall by 4% to 4.5% compared with the same quarter last year. In April, the airline said the decline would be 1.5% to 3.5%. Costs per mile will rise by 6.5% to 7.5% compared with a year ago, said the airline, which is dealing with rising labor costs. The Dallas-based airline said the revenue per mile outlook is worsening mostly due to the difficulty of…

California’s Public Utilities Commission rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option. Its 4-0 vote came after a judge determined the application by AT&T California was “fatally flawed.” AT&T is the “carrier of last resort” for California, an official designation that means it covers most major cities, rural communities, and the land of more than 100 tribal governments. To find out if your home is in that area visit this website. The commission first labeled AT&T a carrier of last resort nearly three decades ago. More than a dozen speakers during the public comment period at the meeting supported keeping AT&T’s carrier-of-last resort designation and landlines. Previously, more than 5,000 public comments were written in response to AT&T’s application and…

Nicole Taylor has an insider’s view of philanthropic trends from her seat as the president and CEO of the Silicon Valley Community Foundation. Located in Mountain View, California, the community foundation’s donors gave out nearly $4.6 billion in 2023, a significant increase from the $2.6 billion granted the previous year. That spike, Taylor said, was thanks to some large donors “who really doubled down big on some things that they cared about.” She said it’s hard to predict what will happen this year, “Are there going to be more wars? We have a huge election coming up. We fully expected donors to be active. Whether it’s going to be $4 billion again? Hard to say.” The foundation doesn’t comment on specific donors or donations, but its reported grants reveal its…

Facial recognition startup Clearview AI reached a settlement in an Illinois lawsuit alleging its massive photographic collection of faces violated the subjects’ privacy rights, a deal that attorneys estimate could be worth more than $50 million. But the unique agreement gives plaintiffs in the federal suit a share of the company’s potential value, rather than a traditional payout. Attorneys’ fees estimated at $20 million also would come out of the settlement amount. Judge Sharon Johnson Coleman, of the Northern District of Illinois, gave preliminary approval to the agreement. The case consolidated lawsuits from around the U.S. filed against Clearview, which pulled photos from social media and elsewhere on the internet to create a database it sold to businesses, individuals and government entities. The company settled a separate case alleging violation…

Car dealerships across North America have faced major disruptions. CDK Global, a company that provides software for thousands of auto dealers in the U.S. and Canada, was hit by back-to-back cyberattacks. That led to an outage that continued to impact many of their operations this week. For prospective car buyers, that may mean delays at dealerships or vehicle orders written up by hand, with no immediate end in sight. Here’s what you need to know. WHAT IS CDK GLOBAL? CDK Global is a major player in the auto sales industry. The company, based just outside of Chicago in Hoffman Estates, Illinois, provides software technology to dealers that helps with day-today operations — like facilitating vehicle sales, financing, insurance and repairs. CDK serves more than 15,000 retail locations across North America,…

Sequels have been a touchy subject when it comes to Pixar, but it’s hard to deny the natural premise of “Inside Out 2.” It’s been nine years since “Inside Out,” yet in the span between that film and its new sequel, Riley, the young girl with a head full of emotions, has gone from 11 years old to 13. She’s just grown up a little. Or maybe a lot. In the middle of the night, the old gang of Joy ( Amy Poehler ), Sadness (Phyllis Smith), Fear (Tony Hale), Disgust (Liza Lapira) and Anger (Lewis Black) are roused from their beds by a soft beep, like a fire alarm in need of a new battery, but soon it’s sounding an all-out emergency. On their console a red light blinks.…

A federal judge said she’s not likely to approve the $30 billion settlement between the payment processing giants Visa and Mastercard and the merchants who say they’ve overpaid on swipe fees. Visa and Mastercard reached a settlement with a group of small businesses and merchants back in March. The deal would lower and cap the fees charged by Visa and Mastercard and allow small businesses to collectively bargain for rates with the payment processors in a similar way that the large merchants do on their own now. But the settlement was not universally accepted. The National Retail Federation, the largest U.S. retail trade group, said it was likely to oppose the settlement, saying the relief was only temporary and that payment processing fees remain too high. The settlement would have…