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Apple Watch Import Ban, Intel’s Foundry Business, and OpenAI’s Valuation 12/26/23
Dec 26, 2023
Apple has been banned from importing and selling the latest line of Apple Watches in the U.S. due to a patent dispute. Intel is receiving several billion dollars to build a new chip factory. OpenAI is reportedly in talks to raise a fresh round of funding at a valuation of $100 billion or more.
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Quick takeaways
- Apple has been banned from selling certain Apple Watch models in the US due to a patent dispute, potentially impacting a small portion of their revenue.
- Intel has secured $3.2 billion to expand its chip facility in Israel and aims to invest up to $100 billion in building the world's largest chip-making complex in Ohio, demonstrating its commitment to reclaiming chip manufacturing leadership.
Deep dives
Apple Watch Sales Banned in the US Due to Patent Dispute
The US Trade Representative Office has upheld the International Trade Commission's decision to ban the sale of certain Apple Watch models in the US, following a patent dispute with Massimo. Apple is working to make changes to the Apple Watch to comply with the patents and hopes to resume selling soon. The ban, if sustained, is estimated to impact less than 2% of Apple's revenue for the March quarter, resulting in a loss of around $135 million in weekly sales. Apple may need to seek a license or make a deal with Massimo to continue using the technology in the future.
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