Tech
APPLE INTELLIGENCE
(Apple)

Apple AI was MIA at iPhone event

A year and a half into a bungled rollout of AI into Apple’s products, Apple Intelligence was barely mentioned at the “Awe Dropping” event.

Yesterdays Awe Dropping Apple launch event, which rolled out the refreshed iPhone, the new iPhone Air, and Apple Watch lineup, included plenty of the usual hallmarks of an slickly produced Apple launch. That included leaps in performance, increased “NITS,” and cool-sounding features like fusion cameras and vapor chambers.

But compared to last years iPhone 16 event, there was a whole lot less talk about Apples grand plan for AI: Apple Intelligence.

A lot has happened since then, so let’s review how we got here.

A Siri-ous stumble

First announced at Apples Worldwide Developer Conference (WWDC) in June 2024, the company showed some compelling demos of how an Apple Intelligence-enhanced Siri could dig through your apps to surface the information you needed — features that the company said would be rolled out over the next year.”

The plan showed generative-AI writing tools sprinkled throughout different apps, along with less useful features like an Image Playground and Genmoji. There was an integration with ChatGPT (which seemed a little tacked-on), and Apple promised that all of this AI would keep your information private. 

A few months later, in September 2024s Glowtime Apple event, it became clear that only some of these new features would be available when the iPhone 16 was released with iOS 18. In the following months, despite a huge amount of hype and marketing around Apple Intelligence, it failed to move phones.

In March 2025, in what may go down as one of the companys most consequential stumbles, Apple announced that it couldnt deliver on the most impressive AI features it promised in its launch event, such as the superpowered AI Siri. Apple spokesperson Jacqueline Roy told Daring Fireball: 

It’s going to take us longer than we thought to deliver on these features and we anticipate rolling them out in the coming year.

Apple watchers were hopeful that they would get an update on Apple Intelligence at Apples June 2025 WWDC, but it underwhelmed

Awe Drop

The video of this week’s event featured 11 mentions of Apple Intelligence, but execs made no mention of the missing features. The few mentions highlighted features that Apple had framed as part of Apple Intelligence. 

  • Live audio translation: The feature that might have the greatest impact on the most number of users came during the announcement of the AirPods 3 — live audio translation. Described as powered by Apple Intelligence, the feature stood out among the few mentions of AI during the event. The feature can show translated speech on the users phone or spoken into the users ear, and can be used for two people in a conversation.

  • Workout Buddy: A previously announced AI-powered feature that combines health and exercise data to feed the user encouraging prompts while working out was featured as part of the Apple Watch and the new AirPods Pro 3. 

Mostly, Apple Intelligence was mentioned in the context of iOS 26, due to launch later this month with modest AI features like translation, transcription, and summarization. 

So… whats the plan?

The whole Apple Intelligence fiasco appears to have been extremely chaotic for Apple.

Apple has lost some key AI leaders to Meta’s Superintelligence Labs, leadership of the AI team has been reshuffled, its reportedly considering using Gemini, Anthropic, or ChatGPT to power Siri, and there were even reports that the company might hit the reset button and just buy Mistral AI or Perplexity

Officially, Apple hasnt announced a date for delivering on its promised Siri upgrade, but Bloomberg reported that internally, Apple is targeting spring 2026 to roll out the improved voice assistant and advanced AI features as an incremental update to iOS 26.

More Tech

See all Tech
tech

After Tesla earnings, prediction markets think unsupervised FSD is less likely than ever to be rolled out this year

Tesla’s unsupervised full self-driving technology, which would autonomously ferry passengers around without a human driver having to pay attention, is supposed to help catapult the electric vehicle company’s valuation further into the stratosphere. It was also supposed to be available this year, but prediction markets participants, as well as former Tesla self-driving leaders, no longer think that will happen.

On Teslas earnings call this week, CEO Elon Musk said the company now had “clarity” on achieving unsupervised full self-driving — something he’s repeatedly said would be available at least in some markets this year.

The comments seemed to give Polymarket prediction markets participants some clarity. There, the market-implied probability that Tesla will release unsupervised FSD this year reached its lowest point since the event contract was opened in May.

The odds of it happening had been pretty high up until late June, when Tesla’s long-awaited robotaxi launched with a safety driver in the passenger seat. The unsupervised FSD event contract specifies the feature can have “no requirement for human intervention.”

tech

Banks prepare record $38 billion debt financing to fund Oracle-tied data centers

Banks led by JPMorgan and Mitsubishi UFJ are preparing a $38 billion debt offering to fund two Oracle-tied data centers in Texas and Wisconsin, Bloomberg reports. The projects, developed by Vantage Data Centers, will support Oracle’s $500 billion Stargate AI infrastructure push with OpenAI and Nvidia.

The loans — $23.25 billion for Texas and $14.75 billion for Wisconsin — are expected to mature in four years, price about 2.5 percentage points higher than the benchmark rate, and mark the largest AI infrastructure financing to date.

Oracle executives recently said that the company anticipates cloud gross margins will reach 35% and that it expects to see $166 billion in cloud infrastructure revenue by FY 2030.

Oracle is up 1.5% premarket.

The loans — $23.25 billion for Texas and $14.75 billion for Wisconsin — are expected to mature in four years, price about 2.5 percentage points higher than the benchmark rate, and mark the largest AI infrastructure financing to date.

Oracle executives recently said that the company anticipates cloud gross margins will reach 35% and that it expects to see $166 billion in cloud infrastructure revenue by FY 2030.

Oracle is up 1.5% premarket.

tech

Google rises on official announcement of Anthropic deal worth “tens of billions”

Google has made its deal to expand AI compute to Anthropic, reported earlier this week by Bloomberg, official. In order to train and serve its Claude model, Anthropic has agreed to pay Google Cloud “tens of billions of dollars” to access up to 1 million tensor processing units, or TPUs, as well as other cloud services.

Google, of course, has a 14% stake in Anthropic, making this one of the many circular AI deals happening at the moment.

“Anthropic and Google have a longstanding partnership and this latest expansion will help us continue to grow the compute we need to define the frontier of AI,” Anthropic CFO Krishna Rao said in the press release. “Our customers — from Fortune 500 companies to AI-native startups — depend on Claude for their most important work, and this expanded capacity ensures we can meet our exponentially growing demand while keeping our models at the cutting edge of the industry.”

The announcement has sent Google up again, more than 1% premarket.

tech

Report: Snap seeking $1 billion to finance its AR glasses division in “existential” fundraise

Snap is down more than 1% this morning following news that the company is attempting to raise $1 billion for its AR glasses unit in what someone told Sources.news was an “existential” fundraise.

A Snap spokesperson countered, “We do not need to raise money to execute against our plans to publicly launch Specs in 2026, but remain open to opportunities that could accelerate our growth.”

Multiple investors are involved in the talks, including Saudi Arabia’s Public Investment Fund, according to Sources.news. The report also noted that Snap plans to turn the unit that makes its Specs glasses into an independent subsidiary à la Google’s Waymo “that can continue raising capital from investors.”

Snap plans to produce about 100,000 units of next year’s Specs, pricing them around $2,500.

The beleaguered stock saw quite a bit of retail interest last month, amid r/WallStreetBets chatter that its low nominal price made it a potential acquisition target.

Multiple investors are involved in the talks, including Saudi Arabia’s Public Investment Fund, according to Sources.news. The report also noted that Snap plans to turn the unit that makes its Specs glasses into an independent subsidiary à la Google’s Waymo “that can continue raising capital from investors.”

Snap plans to produce about 100,000 units of next year’s Specs, pricing them around $2,500.

The beleaguered stock saw quite a bit of retail interest last month, amid r/WallStreetBets chatter that its low nominal price made it a potential acquisition target.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.