Apple Builds ChatGPT-Like iPhone App, Wayfair Falls, Oracle Slides
Sep 26, 2025
Get ready for some intriguing tech updates! Apple is rolling out an internal app that mimics ChatGPT to enhance Siri's capabilities. Meanwhile, furniture retailers like Wayfair and RH are struggling as new tariffs threaten their market. And in the world of finance, Oracle is teaming up with investors to potentially acquire a stake in a US version of TikTok. Tune in for these exciting developments!
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insights INSIGHT
Apple Tests ChatGPT-Like Siri Prototype
Apple has built an internal ChatGPT-like iPhone app to prototype a major Siri overhaul.
The app tests searching personal data and in-app actions but is limited to employee use for now.
insights INSIGHT
Tariffs Hit Furniture Stocks Hard
Furniture retailers plunged after President Trump announced 50% tariffs on imported cabinets and related home products.
The tariff move hit shares of RH and Wayfair amid an already difficult year for the sector.
insights INSIGHT
Oracle Joins Proposed TikTok US Deal
Oracle is part of talks to invest in a US version of TikTok with Silver Lake and MGX for roughly 15% stakes each.
The proposed $14 billion valuation disappointed investors and cooled Oracle's stock despite its strong year-to-date gains.
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- Apple (AAPL) has developed a ChatGPT-like iPhone app to help test and prepare for a long-anticipated overhaul of Siri coming next year, according to people familiar with the matter. The company’s AI division is using the app to quickly evaluate new features for Siri, Apple’s voice-powered assistant. That includes testing the ability to search through personal data, such as songs and emails, and perform in-app actions like editing photos, said the people, who asked not to be identified because the initiative is private. Shares of the iPhone-maker bounced around during trading on Friday.
- Furniture retailers like Wayfair (W) and RH (RH) saw shares broadly decline after President Donald Trump announced that the US will enact new tariffs on imported kitchen cabinets, bathroom vanities and other home products next week. RH, whose chief executive officer has been a critic of Trump’s trade policy, saw its stock fall about 4% on Friday. The shares of the company, which operates the Restoration Hardware chain, had already declined 46% this year through Thursday. Wayfair, another furniture retailer, dropped as much as 1.9%.
- Oracle (ORCL), along with Silver Lake Management and the Abu Dhabi-based investment company MGX are in talks to invest in a US version of TikTok and receive board seats in the new venture, according to people familiar with the discussions. The Trump administration recently encouraged MGX to join the coalition of non-Chinese owners, said one of the people, who asked not to be identified discussing nonpublic information. Oracle, Silver Lake and MGX would each take a roughly 15% stake in the new TikTok US, and the investors may get a board seat each, said the people, who added that talks are ongoing and the size of the stakes may change. Spokespeople for Oracle, Silver Lake and MGX didn’t respond to requests for comment. The White House, TikTok and ByteDance also had no immediate comment. CNBC reported on the discussions earlier Thursday. Shares of Oracle are lower as investor express disappointment with the Trump administration's estimates for TikTok's value.
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