Tech news digest for Tuesday, May 5, 2026

Intel Hits All-Time High Amid Apple Talks

Intel's stock surged 14% following reports of potential chip production talks with Apple, reaching a market cap of over $470 billion. This rise comes after a remarkable 114% increase in April, marking Intel's best month ever, driven by heightened demand for its chips amid the ongoing AI boom.

• Intel's stock price increase follows a historic 114% surge in April, its best month ever.
• The discussions with Apple are part of Apple's strategy to diversify its chip manufacturing partners, moving away from reliance on TSMC.

OpenAI's AI Phone Set for 2027 Release

OpenAI is accelerating the development of its first smartphone, targeting a launch in early 2027. The device will feature a customized MediaTek Dimensity 9600 chip designed for advanced AI applications and is expected to achieve significant market penetration.

• The phone will utilize a dual-NPU architecture for enhanced AI capabilities.
• OpenAI is collaborating with former Apple design head Jony Ive on the project.

Brockman Defends $30B Stake Amid Musk's Legal Battle

During a tense legal confrontation with Elon Musk, OpenAI co-founder Greg Brockman defended his stake in the company, valued at nearly $30 billion. Musk's accusations suggest that Brockman has mismanaged OpenAI's nonprofit mission for personal gain, but Brockman insists that his financial interests are secondary to the organization's goals.

• $150 billion is the estimated value of OpenAI's nonprofit foundation, making it one of the wealthiest nonprofits.
• Brockman testified that OpenAI has received less than $150 million in donations, countering Musk's claims of misuse of funds.

Blackstone and KKR Pursue AI Partnerships with Google

Google and Models saw 2 notable updates in the last 24 hours across 2 sources. The story moved from Blackstone, KKR in Talks With Google to Bring AI Models to Portfolio Firms to Trump admin. moves further into AI oversight, will test Google, Microsoft and xAI models.

• Blackstone and KKR aim to enhance their portfolio firms' capabilities through AI technologies.
• The discussions are part of a broader trend of partnerships between AI firms and alternative asset managers for revenue generation.

Anthropic Unveils AI Agents for Financial Services

Anthropic has launched a suite of 10 AI agents designed to automate various tasks in the financial sector, including banking, insurance, and asset management. The new tools can draft pitch decks, review financial statements, and manage compliance issues, and the company has partnered with major firms like Goldman Sachs and AIG to enhance their capabilities.

• FactSet shares fell by 8.1% following the announcement of the AI agents.
• The AI agents can operate autonomously or as plugins, utilizing a network of external financial data sources.

Meta Implements AI for Underage User Detection

Meta is deploying AI technology to analyze visual cues such as height and bone structure to identify users under the age of 13 on its platforms, including Facebook and Instagram. This initiative comes in response to a $375 million penalty related to child safety concerns and aims to enhance age verification processes across multiple regions.

• The AI system is currently operational in select countries with plans for a broader rollout.
• Meta is expanding stricter 'Teen Accounts' to 27 countries in the EU and Brazil.

Haun Ventures raises $1 billion for crypto and AI investments

Katie Haun has successfully raised $1 billion for her new venture funds, which will focus on investments in both crypto and artificial intelligence. The capital will be allocated over the next two to three years to support innovative startups in alternative assets and financial services, reflecting Haun's commitment to expanding her firm's portfolio.

• Haun Ventures currently manages over $2 billion in assets.

Amazon Expands AI Investments and Logistics Services

Amazon and All saw 2 notable updates in the last 24 hours across 2 sources. The story moved from Amazon opens up its global logistics network to all businesses to Andy Jassy says Amazon investors will be rewarded by all its AI spending.

• AWS revenue is projected to reach $166 billion this year.
• Amazon Supply Chain Services aims to compete directly with UPS and FedEx.

GameStop's Bold $56 Billion Bid for eBay

GameStop Corp. has made a significant move by proposing a $56 billion acquisition of eBay Inc., offering $125 per share in a combination of cash and stock. This ambitious bid, led by GameStop's chairman Ryan Cohen, aims to transform eBay into a formidable competitor against giants like Amazon.

• GameStop's offer values eBay at approximately $55.5 billion and includes plans to cut $2 billion in annual costs from eBay.
• The company has secured $20 billion in debt financing from TD Bank to support the acquisition.

Musk Settles SEC Lawsuit Over Twitter Acquisition

Elon Musk has reached a settlement with the SEC regarding allegations that he delayed disclosing his Twitter stock purchase, which allowed him to save over $150 million. The settlement requires Musk's revocable trust to pay a $1.5 million civil penalty, without admitting any wrongdoing.

• The SEC accused Musk of violating securities laws by failing to timely disclose his $44 billion Twitter stake.
• This settlement follows a previous $20 million agreement between Musk and the SEC in 2018.

Anthropic and OpenAI Launch Competing AI Ventures

Anthropic and OpenAI have announced the launch of new joint ventures aimed at providing AI services to mid-sized businesses. Anthropic's venture, valued at $1.5 billion, is backed by investors including Blackstone and Hellman & Friedman, while OpenAI's initiative, known as The Development Company, seeks to raise $4 billion at a $10 billion valuation.

• Anthropic's new venture will help regional healthcare networks and other mid-sized companies integrate AI solutions like Claude.
• OpenAI's deployment initiative has secured over $4 billion in funding to assist companies with AI rollout.

Apple Releases watchOS 26.5 with Key Updates

Apple has launched watchOS 26.5, addressing significant bugs for Apple Watch users and introducing a new customizable watch face. The update resolves an issue where Messages incorrectly used SMS instead of iMessage on dual SIM iPhones and allows users to receive audio alerts from the Workout app without needing their phone nearby.

• Over 70 color options and 11 pre-configured designs are available for the new Pride Luminance watch face.
• The Pride Edition Sport Loop band is priced at $49 and features 11 colors of nylon yarns.

Meta Faces Billion-Dollar Claims in New Mexico Youth Harm Trial

Meta is currently embroiled in a trial in New Mexico, where the state's Attorney General is seeking $3.7 billion in damages related to child safety and mental health concerns. A jury has already found Meta in violation of the state's unfair practices act, resulting in a $375 million penalty, which could set a significant precedent for future public nuisance claims against tech companies.

• New Mexico Attorney General Raúl Torrez aims to establish a new standard for social media regulations.
• Meta argues that there is no scientific evidence linking its platforms to mental health issues among youth.

Google Announces The Android Show Ahead of I/O 2026

Google is set to host The Android Show on May 12, 2026, showcasing significant consumer-focused announcements just before its annual I/O developer conference. This year is being highlighted as one of the biggest for Android, promising exciting updates and features for users and developers alike.

Samsung leaked its ‘Wide Fold’ again, right alongside the Galaxy Z Fold 8 [Gallery]

Samsung has once again leaked details about its upcoming 'Wide Fold' device, expected to debut at a launch event in July. New renderings surfaced in One UI 9, highlighting the device's unique aspect ratio and a dual-camera setup. This follows previous leaks, indicating a growing anticipation for the Galaxy Z Fold 8, which has yet to be seen in real life.

• The Galaxy Z Fold 8 is set for a rumored July launch.
• The 'Wide Fold' features a unique aspect ratio and a dual-camera setup.

Here’s What BofA Thinks About ​NVIDIA Corporation (NVDA)

Bank of America has expressed optimism about NVIDIA Corporation's potential to enhance shareholder returns, suggesting that increasing dividends or initiating buybacks could lead to a higher stock rating. The firm anticipates that NVIDIA will generate over $400 billion in free cash flow from 2026 to 2027, yet notes the company trades at a market cap to free cash flow multiple that is significantly lower than its competitors.

• NVIDIA is expected to generate over $400 billion in free cash flow from 2026 to 2027.
• The company's current dividend yield is only 0.02%, limiting its appeal to income-focused investors.

Nscale Plans Expansion of Microsoft Data Center Site in Portugal

Nscale Global Holdings has announced a significant investment of €695 million to expand its data center partnership with Microsoft in Portugal. This expansion will include the provision of over 66,000 Nvidia GPUs and the construction of a new 200 megawatt building at the Sines campus, with work expected to commence in late 2027.

• Nscale will provide over 66,000 Nvidia GPUs for the project.
• The investment includes €230 million for shared infrastructure and €465 million for a new building.

As workers worry about AI, Nvidia’s Jensen Huang says AI is ‘creating an enormous number of jobs’

During a recent discussion, Nvidia CEO Jensen Huang reassured American workers that AI is not a threat to jobs but rather a catalyst for job creation and re-industrialization. He argued that while specific tasks may be automated, the overall roles of employees will persist, countering fears of mass unemployment. Huang also expressed concern that negative narratives surrounding AI could deter public engagement with the technology, potentially stifling its benefits.

• Jensen Huang claims AI will help the U.S. re-industrialize and create jobs.
• Huang warns against fearmongering that could hinder AI engagement in America.

Dara Khosrowshahi on replacing Uber drivers — and himself — with AI

In a recent interview, Uber CEO Dara Khosrowshahi revealed ambitious plans to transform the Uber app into an all-encompassing travel platform, starting with hotel bookings through a partnership with Expedia. He discussed the integration of AI technologies to enhance user experience and the company's significant investments in autonomous vehicles, including a notable stake in Rivian, as part of a broader strategy to innovate and adapt in a competitive landscape.

• Uber plans to integrate hotel bookings into its app through a partnership with Expedia.
• Khosrowshahi is exploring AI's role in enhancing user experience amid competition from chatbots.

From 2 Chainz to Anthony Scaramucci, many claim to own SpaceX shares even before the IPO. How some get an early jump

A surge of retail investors, including notable figures like Anthony Scaramucci and rapper 2 Chainz, are claiming ownership of SpaceX shares ahead of its IPO, driven by fear of missing out. Many are utilizing special purpose vehicles (SPVs) to pool investments, but this approach carries significant risks, including high fees and potential fraud in the opaque private market.

• At least 170 special purpose vehicles (SPVs) have invested in SpaceX shares.
• Anthony Scaramucci and rapper 2 Chainz are among the early investors claiming SpaceX stock.