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The seven US technology giants lost 650 billion overnight; Honor responded to IPO rumors; WeChat subscription account grayscale test "News" | Geek Early Knowledge

Li Yuan2024/08/06

Summary

The United States ruled that Google had an illegal monopoly; Musk sued OpenAI again; Tencent was rumored to have participated in the $300 million financing of The Dark Side of the Moon.

The three major U.S. stock indexes closed down collectively, and popular technology stocks generally fell

On Monday, Eastern Time, the three major U.S. stock indexes closed lower, with the Dow Jones Industrial Average down 2.6%, or 1,033.99 points; the Nasdaq fell 3.43%; and the S&P 500 fell 3%, marking the largest single-day drop since September 2022.

Popular technology stocks generally fell, Nvidia (market value evaporated $167.2 billion), Intel fell more than 6%, Apple (market value evaporated $160.9 billion), Amazon (market value evaporated $72.2 billion), Tesla (market value evaporated $28 billion), Google (market value evaporated $91 billion) fell more than 4%, Apple recorded its largest single-day drop since September 2022, Microsoft fell more than 3% (market value evaporated $99.1 billion), market value fell below $3 trillion, Meta fell more than 2% (market value evaporated $31.4 billion). As of the close, the total market value of the "Seven Big Tech Companies" in the U.S. stock market evaporated $649.8 billion overnight, equivalent to about RMB 4.64 trillion. (Source: Daily Economic News)

A U.S. federal judge ruled that Google illegally monopolized the online search market and its partnership with Apple was illegal

On August 6, a federal judge in the U.S. federal court ruled today that the default search engine agreements signed by Google and Apple and other companies violated antitrust laws. Judge Amit Mehta believed that these agreements reduced competition in the search industry and gave Google an unfair advantage.

The U.S. Department of Justice sued Google several years ago, accusing it of unfairly monopolizing the search industry and online advertising market. The court ruled today that Google is indeed a monopoly and has used its position to maintain its monopoly, violating Section 2 of the Sherman Antitrust Act.

Mehta rejected Google's argument that its contracts with phone and browser makers like Apple are not exclusive and therefore shouldn't subject it to liability. "This would prevent Apple from launching its own search engine, which it already has the ability to do," he wrote.

Judge Amit Mehta's ruling represented a major victory for the Justice Department. He agreed with the government's view that Google has a monopoly in "general search services" and "general search text advertising." But he also rejected some of the government's arguments, such as that Google has monopoly power in a particular area of ​​the advertising market.

It is not clear what this ruling means for the future of Google's business, as this preliminary finding only involves the company's liability, not remedies. Google's fate will be decided in the next phase of litigation, which could lead to any outcome - perhaps a forced cessation of certain business practices or a spin-off of Google's search business. (Source: IT Home, The Verge)

Musk sues OpenAI and its founder Altman again: Violation of founding contract

Elon Musk on Monday refiled his lawsuit against OpenAI, the maker of the AI ​​chatbot ChatGPT.

Musk sued OpenAI in February but dropped the case in June, the day before a judge was to decide whether to dismiss it. Like the initial lawsuit, Musk's new lawsuit, filed in federal court in Northern California, alleges that OpenAI and its two founders, Sam Altman and Greg Brockman, put commercial interests above the public interest and violated the company's founding contract.

The new lawsuit claims that after co-founding OpenAI with Musk in 2015 and promising to carefully develop AI for the benefit of humanity, Altman and Brockman abandoned that mission and entered into a multi-billion dollar partnership with Microsoft. This means that Musk was betrayed by Altman and his accomplices. (Source: Sina Technology)

Tencent reportedly participated in the $300 million financing of Dark Side of the Moon

Bloomberg reported on August 5 that Dark Side of the Moon had just closed more than $300 million in funding, with Tencent participating in the round, following the lead of its main rival, Alibaba Group, in nurturing several promising names in a highly competitive field.

Bloomberg's anonymous sources said the financing pushed Dark Side of the Moon's valuation to $3.3 billion and attracted other investors including Gaorong Capital and existing backer Alibaba.

People related to Dark Side of the Moon said they would not comment on the financing news. (Source: Bloomberg, Sina Technology)

Honor responds to IPO rumors: shareholding reform will be carried out in the fourth quarter and IPO will be launched in due course

On August 5, Honor officially responded to the IPO rumors, saying that Honor plans to launch the corresponding shareholding reform in the fourth quarter of this year, and will start the IPO process in due course, and will disclose relevant financial data in the corresponding process. In addition, from January 1, 2021 to date, Honor has not received "support beyond ordinary enterprises" from the Shenzhen Municipal Government.

It is reported that Honor announced in November last year that in order to achieve the company's next stage of strategic development, the company will continue to optimize its equity structure, attract diversified capital to enter, and promote the company's entry into the capital market through the initial public offering. Honor CEO Zhao Ming even confirmed: We will definitely go public in China, and backdoor listing has never been an option for Honor. When Honor became independent from Huawei, its valuation was about 100 billion yuan. People familiar with the matter said that the valuation would be higher now. (Source: Fast Technology)

Lei Jun enters the live streaming market? Xiaomi wristband is launched in Douyin account showcase

On the afternoon of August 5, Lei Jun, chairman and CEO of Xiaomi, launched the product "[Chinese Valentine's Day Special] Xiaomi Mi Band 9 Series Smart Bracelet" on his personal Douyin account "Lei Jun" for 249 yuan. The page shows that Lei Jun has 28.441 million fans and 3,154 followers. (Sina Technology)

WeChat subscription account grayscale test "News Flash", you can receive news without following the official account

Recently, WeChat has internally tested the "News Flash" column in its "Subscription Account" function. This column appears at the top of the "Subscription Account" column.

"News Flash" can proactively push breaking news to users, which are generally sourced from major official media outlets. Users do not need to follow these official media public accounts to receive "News Flash".

This feature is currently being tested in grayscale, and IT Home has not found any relevant content. In addition, the report said that the position of this column is not always fixed at the top, but may also appear in the information flow, and there is a close button in the upper right corner of the column.

AI chip startup Groq raises $640 million

On August 5, AI chip startup Groq raised $640 million in a new round of financing at a valuation of $2.8 billion. Groq's round of financing was led by BlackRock Group, with participation from the investment arms of Cisco Systems and Samsung Electronics.

Groq also announced that former HP and Intel executive Stuart Pann has joined its leadership team as chief operating officer.

In July, it was reported that Groq was expected to complete a $300 million financing led by BlackRock, with a valuation of $2.2 billion. Groq's last round of financing was in 2021, with a valuation of $1.1 billion.

Groq was founded by Jonathan Ross, one of the inventors of Google's dedicated chip NPU. In February this year, Groq released a demonstration video showing how its AI chip can run a large language model in a fraction of a second.

Since then, Groq has attracted a lot of attention from developers. This speed is particularly attractive to AI developers who have difficulty finding and affording Nvidia's expensive GPUs. It is reported that Groq's chips are so fast because they are specially designed for the underlying architecture of large language models. However, there is a trade-off between speed and flexibility. (Source: Cailianshe, Wall Street News)

DJI Air 3S aerial photography drone poster exposed: replaced with 1-inch main camera, expected to be released in September

On August 5, the news source Quadro_News exposed the poster of DJI Air 3S aerial photography drone today, fully revealing the appearance of this new drone.

According to the poster, the DJI Air 3S drone has a slight adjustment in the size of the front visual sensor compared to the current Air 3, while the gimbal will continue the dual-camera system of the current Air 3. The main camera of the DJI Air 3S aerial drone will be replaced with a 1-inch bottom and is expected to be released in September.

In terms of battery life, the DJI Air 3 currently provides a 4241 mAh intelligent flight battery, with a maximum flight time of 46 minutes and a maximum hovering time of 42 minutes. In terms of price, the aircraft should be on par with the current Air 3, with the DJI Air 3 listed at 6988 yuan. (Source: IT Home)

Elvis Presley inspired island lyrics speaker is now on sale, starting at 1799 yuan

On August 5, the Elvis-inspired Island Lyrics speaker is now on sale. It has a built-in 5-speaker matrix, supports Bluetooth 5.4 connection, and is available in two versions: a stand-alone version and a dual-microphone karaoke version. The price starts at 1,799 yuan.

According to reports, the Elvis-inspired Island Lyrics Speaker is equipped with a 10.1-inch semi-transparent screen, built-in 16 themes of dynamic floating lyrics effects, and supports functions such as custom lyrics background, album carousel display & custom speaker standby wallpaper. (Source: IT Home)

Image credit: Elvis

BYD officially announced that the 2025 model of the Haibao 07 DM-i will be launched on August 8

On August 5, it was reported earlier this month that BYD Seal 07 DM-i / EV will be launched on August 8. Now the news has been officially confirmed, but the official name is Seal 07 DM-i and 2025 Seal.

Zhang Zhuo, general manager of BYD Auto Ocean Network Sales Division, said that the 2025 Haibao will be equipped with many hard-core technologies and will be the first sedan equipped with the e platform 3.0 Evo; Haibao 07 DM-i will be equipped with the fifth-generation DM technology, achieving new breakthroughs in fuel consumption and endurance among products of the same level. (Source: IT Home)

The latest Fortune 500 list is released: Nvidia and Pinduoduo are on the list for the first time

On August 5, 2024, the 2024 Fortune Global 500 list was announced. This year, a total of 133 Chinese companies made the list, second only to the 139 companies in the United States.

The total operating revenue of the Fortune Global 500 companies this year is about 41 trillion US dollars, equivalent to one-third of the global GDP, and a slight increase of about 0.1% over last year. Wal-Mart has topped the list for 11 consecutive years.

This year, four Chinese companies rose by at least 50 places, namely Meituan, BYD Co., Ltd., Shenghong Holdings Group Co., Ltd., and Taikang Insurance Group Co., Ltd.

Among the 15 fields in which Chinese companies are listed, the development of "automobiles and auto parts" is more prominent, with a total of 10 Chinese automobile and auto parts companies entering the 2024 Fortune Global 500. Among them, Chery made the list for the first time, ranking 385th with a revenue of US$39.1 billion. This year, BYD's revenue increased from US$63 billion last year to US$85.1 billion, an increase of 69 places from last year. After CATL made its first appearance on the list last year, its revenue this year increased from US$48.8 billion to US$56.6 billion. Geely's revenue increased from US$60.4 billion to US$70.4 billion, an increase of 40 places.

The rankings of major domestic Internet companies also showed an overall rise. Among the five Internet giants, except for Alibaba, which dropped two places, the rankings of JD.com, Tencent and Meituan all improved, and Pinduoduo made the list for the first time. Meituan became the Chinese company with the largest ranking improvement on the list, jumping 83 places to 384th. JD.com, ranked 47th, entered the top 50 for the first time.

Among the top five companies with the highest profit margins, three are from the semiconductor and electronic components industries, namely Nvidia, TSMC and Broadcom, ranking second to fourth. Nvidia is on the list for the first time, and the company's revenue last year reached US$60.9 billion. (Source: Shanghai Securities News, First Financial)

Antitrust Google Search Dark Side of the Moon Honor 6 Plus Honor IPO Lei Jun News BYD Seal DJI Air 3S Inspiration Island Lyrics Speaker