WSJ Tech News Briefing

Uber faces a large lawsuit from 21 states and D.C. over alleged deceptive billing and cancellation practices. The amended complaint seeks significant civil penalties for these violations. Meanwhile, Ford announces a staggering $19.5 billion write-down on its EV investments, signaling a shift toward hybrids and more affordable electric options. Xerox is also in the news, looking for $500 million in debt financing backed by its intellectual property. Buckle up for some thrilling developments in the tech world!

JPMorgan debuts a tokenized money-market fund on Ethereum, requiring a $1M minimum investment. This move taps into the growing trend of tokenization in finance, appealing to crypto investors seeking yield. Meanwhile, a survey reveals that 68% of CEOs plan to ramp up spending on AI, despite mixed results in some projects. Success stories primarily come from marketing and customer service. Lastly, iRobot files for bankruptcy due to intense competition and a failed deal with Amazon, but product support will continue.

Reddit challenges Australia's ban on social media for kids under 16, sparking debates on free speech and access to political content. The Australian government and Meta weigh in, raising concerns for both children and parental rights. Meanwhile, the Trump administration gives a nod to cryptocurrency banks, unlocking potential for digital asset custody and stablecoin services. However, bond markets are wary, signaling risks related to a possible AI bubble as tech companies ramp up borrowing for infrastructure.

Silicon Valley is lobbying for federal preemption to avoid conflicting state regulations and boost competitiveness against China. Political reactions to a new executive order reveal sharp divides, with criticisms from both sides of the aisle. Meanwhile, Broadcom's stock takes a hit due to concerns over sales forecasts despite strong AI revenue, which has lower margins than other sales. Lastly, OpenAI announces the launch of GPT-5.2, enhancing its capabilities in math, science, and coding, spurred by competition from leading tech rivals.

Micah Maidenberg, a Wall Street Journal reporter on space and tech, discusses the ambitious plans of SpaceX and Blue Origin to establish data centers in orbit, highlighting the significant cash and challenges involved. Ellen Gamerman explores the intriguing rise of Tilly Norwood, an AI actress disrupting Hollywood, and shares insights from her creator, Aline van der Velden, on the artistic merits of AI in film. Both guests reveal the potential industry shifts and skepticism surrounding these technological advancements.

Palantir takes a bold step by suing rival Percepta, claiming employee poaching and document theft. Meanwhile, Ford and SK Group are parting ways, marking a significant shift in their plans for U.S. EV battery production. In a surprising turn, traditional companies are outpacing tech stocks in the market, indicating a shift in investor confidence. Tune in for insights into these major developments!

Disney is set to invest $1 billion in OpenAI, licensing over 200 characters for exciting short AI-generated videos. Meanwhile, Oracle faces a significant drop in stock prices due to concerns about spiraling costs in AI data-center spending. Additionally, a research firm warns that rising memory prices could squeeze profit margins for smartphone and laptop makers, setting the stage for a shake-up in the tech industry.

The Trump administration proposes screening foreign visitors' social-media histories, potentially impacting ESTA travelers. This move is aimed at enhancing national security. Meanwhile, investors speculate on a higher bid for Warner Bros. following Netflix's substantial offer. Additionally, YouTube TV is shaking things up with new, cheaper channel bundles designed to cater to specific viewer preferences, including a sports-focused option.

Adobe has integrated its popular apps like Photoshop and Acrobat into ChatGPT, allowing users to edit and create designs directly in the chatbot. This move enables Adobe to tap into ChatGPT's vast user base. Meanwhile, Amazon and Microsoft are making significant investments, committing over $50 billion to expand their presence in India. A recent poll reveals that 85% of CEOs from large companies are optimistic about AI's potential to enhance productivity and drive economic growth.

NVIDIA's H200 AI chips destined for China will undergo scrutiny from U.S. security officials, marking a significant move in tech export regulations. Walmart is entering a new era driven by AI, as its CEO emphasizes the need for leadership aligned with this transformation. Meanwhile, Canada is enhancing its military capabilities by awarding a lucrative contract for Arctic satellite communications. Tune in for insights on these pressing tech developments!