Australia plans to double the maximum fine for social media platforms that fail to keep under-16s off their services, raising penalties to A$99 million. The government says children are still bypassing the ban and regulators are investigating Facebook, Instagram, Snapchat, TikTok and YouTube.
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Trump said any country that imposes a digital services tax on American companies would face an immediate 100% tariff on all goods sent to the United States. The warning comes amid trade talks with the European Union and continuing tensions over taxes aimed largely at U.S. tech firms.
California Gov. Gavin Newsom is proposing a federal minimum tax on billionaires and a national AI equity fund while opposing a billionaire tax on California’s November ballot. He says wealth taxes should be handled nationally and that AI gains should help support workers and public programs.
Apple raised prices on several MacBook, iPad and other devices, blaming surging memory and storage costs linked to AI data center demand. Microsoft’s Xbox division also announced console price increases as chip costs climb.
IBM says its new NanoStack chip design could fit 100 billion transistors on a fingernail-sized chip and deliver up to 50% better performance or 70% greater energy efficiency. The technology is not yet ready for mass production, with IBM projecting a possible path to manufacturing within five years.
The NTSB and NHTSA are investigating a fatal Tesla Model 3 crash in Katy, Texas, that killed 76-year-old Martha Avila. Her family has sued Tesla and the driver, alleging defects in Autopilot and Full Self-Driving systems and seeking more than $1 million in damages.
Technology shares fell sharply worldwide as investors questioned whether massive AI spending can support lofty valuations. Chipmakers, Alphabet and newly public SpaceX were among the names hit as the sell-off spread to Asian markets.
Technology shares fell sharply around the world Tuesday as investors questioned whether AI spending will produce profits that justify lofty valuations. SpaceX, chipmakers and memory stocks led the declines, while inflation and interest-rate concerns added pressure.