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Top 5 Tech News of the Week – June 2nd

Top 5 Tech News of the Week – June 2nd


A lot happened in the tech world last week. GameStop sales surpass $2 billion on the back of Roaring Kitty craze, Audi investing in electric vehicles in Mexico, Apple Vision Pro set to debut in China, and more. Let's get started.

Cat craze drives GameStop sales to over $2 billion

Video game retailer GameStop announced on June 11 that it had completed its “at the market” initial public offering, raising approximately $2.14 billion in gross proceeds. The announcement came just days after meme stock influencer Keith Gill held his first livestream in three years.

In a June 7 livestream that drew more than 600,000 viewers, Gill, who played a key role in GameStop's stock price rising dramatically in 2021, talked about the company and made jokes about memes while making various disclaimers. The stock ended the session down nearly 40%. GameStop announced that it had sold 75 million shares, the maximum number registered in the program.

Trending IoT Top 8 Cybersecurity Risks Rating Audi Invests in Electric Vehicles in Mexico

German carmaker Audi plans to invest 1 billion euros ($1.08 billion) in an electric vehicle project in the Mexican state of Puebla, the state's governor announced on June 11.

The investment is expected to create 500 new jobs, according to a Puebla state government statement, which added that Audi Mexico President Tarek Masur and Puebla Governor Sergio Salomon have set a goal of turning the state into a technology hub for electric vehicles.

Apple Vision Pro set to debut in China

Apple has announced that its flagship virtual reality headset, Apple Vision Pro, will be available in China, Hong Kong, Japan and Singapore on June 28. This marks the device's debut in the Asian market, with pre-orders available from June 14.

The VR headset, which first went on sale in the US four months ago, starts at $3,499. In China, one of Apple's most important markets, the Vision Pro will cost 29,999 yuan ($4,190).

Apple will likely have to deal with China's strict content restrictions, as popular apps like Disney+ and Amazon Prime Video are not available in the country.

U.S. lawmakers push for AI regulation

The California Legislature has introduced roughly 30 new artificial intelligence bills aimed at protecting consumers and jobs, marking one of the most significant efforts to regulate emerging technologies.

The proposed bill includes some of the nation's toughest AI regulations, addressing technologists' concerns that AI could eliminate entire jobs, disrupt elections with misinformation, and pose national security risks. The measures, many of which have broad support, aim to prevent AI tools from discriminating in housing and health care services and protect intellectual property and jobs.

Apple overtakes Microsoft as most valuable company

Apple announced major artificial intelligence initiatives during the keynote address at its developers conference on June 10, and on June 12 it overtook Microsoft to become the world's most valuable company.

Apple's market capitalization hit $3.3 trillion, surpassing Microsoft's $3.2 trillion, as investors excited by Apple's big plans to integrate artificial intelligence across its family of tech devices sent the stock up more than 7% to a record high.




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