In its first effort to move its search product behind a paywall, Alphabet’s (GOOGL) Google is considering charging for new “premium” features powered by generative artificial intelligence. Elon Musk says Tesla (TSLA) is raising salaries for his AI engineers. Apple (AAPL) is setting up a team to explore a move into personal robots after canceling its electric car project. Levi Strauss (LEVI) stock is soaring pre-market on bullish guidance. And Chinese EV maker BYD (BYDDY) plans to launch an electric pickup truck this year to compete with Tesla and Ford. Oil prices hover near 2024 highs as OPEC+ maintains production cuts, while U.S. Stock futures are pointing slightly higher. Here’s what investors need to know today.
1. Google may start charging fees for “premium” services powered by AI
Google is considering charging for new “premium” features powered by generative artificial intelligence. financial times It is reported that this will be the biggest change to the company’s search business to date. The dollar-dollar search engine’s proposed revamp marks the first time the company has put its core product behind a paywall and shows that nearly a year and a half later, the company is still grappling with technology that threatens its advertising business. ing. The debut of his ChatGPT, OpenAI’s chatbot. Google is considering options such as adding certain AI-powered search features to its premium subscription service, which already offers access to the new Gemini AI assistant in Gmail and Docs, reports say. states. Shares of Google’s parent company Alphabet (GOOGL) fell about 0.7% in premarket trading.
2. Tesla will raise salaries for AI engineers, Musk says
Tesla (TSLA) is raising salaries for AI engineers to prevent them from being poached from companies such as OpenAI, CEO Elon Musk said in a series of posts on his social media platform X. . This is the craziest talent war I’ve ever seen!” Musk said, adding, “Tesla is increasing compensation (conditioned on progress milestones) for its AI engineering team.” He also said that AI startup OpenAI has been “aggressively recruiting Tesla engineers with huge payoffs” and has been successful “in some cases.” Musk was a co-founder of OpenAI, the developer of the hit chatbot ChatGPT, but after falling out with other members of the startup, he launched his own product, xAI, last year. Tesla shares rose about 1% in premarket trading.
3. Apple is reportedly moving into personal robots
Apple (AAPL) has set up a team to investigate a move into personal robots, and there are reports that this field could be one of the company’s ever-changing “next big things.” bloomberg report. The report, citing people familiar with the situation, said Apple engineers are working on a mobile robot that could follow users around their homes. Apple is under increasing pressure to find new sources of revenue after canceling its electric car project in February. Apple’s stock was little changed in pre-market trading as the iPhone maker struggles with challenges from regulators to open up its app ecosystem and allegations of its involvement in the AI frenzy that has engulfed rivals. It has fallen more than 8% this year as it struggles to keep up. Anti-competitive conduct.
4. Levi Strauss stock soars after forecast hike
Levi Strauss & Co. (LEVI) shares rose to 12 in premarket trading Thursday after the jeans maker posted better-than-expected first-quarter revenue and raised its full-year profit outlook as it expands its direct sales business. soared more than %. Consumer (DTC) business. The company’s DTC sales through its website and name-brand stores accounted for 48% of the apparel maker’s total revenue, reducing its dependence on its wholesale business, which saw sales decline. The better-than-expected quarterly results came months after the company announced plans to cut its workforce by 10% to 15% worldwide, aiming to save $100 million by fiscal 2024.
5. China’s BYD plans first electric pickup truck
Chinese electric car maker BYDDY plans to launch its first electric pickup truck this year. BYD does not sell pickups in the United States, which is the most popular market for his trucks, but it does have a presence in other popular markets for this type of vehicle, including Thailand. According to CNBC, the pickup truck will compete with the Ford Ranger, F-150 Lightning, Toyota Hilux, and Tesla Cybertruck. BYD and Chinese rivals XPeng (XPEV), Nio (NIO), and Li Auto (LI) all reported year-over-year increases in vehicle deliveries in March and the first quarter, while Tesla (TSLA) Vehicle deliveries for the quarter decreased by 8.5%. .
