Plus: Elon Musk’s more than $158 million pay package. And Apple reports strong iPhone sales. Imani Moise hosts.
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[00:00:32] [SPEAKER_01] TNB Tech Minute for Friday, May 1st. I'm Imani Moise for The Wall Street Journal. The Defense Department has completed agreements with seven tech companies to use their AI capabilities in classified settings, boosting the Pentagon's efforts to gain access to cutting edge AI tools. The Department has struck deals with OpenAI, Google, Microsoft, Amazon, NVIDIA, SpaceX, and a startup called Reflection AI.
[00:00:56] [SPEAKER_01] The agreements show that Silicon Valley power players are open to agreeing to the Defense Department's terms in a way that Anthropic didn't when it rejected a defense contract earlier this year. For many months, Anthropic's cloud models were some of the only AI tools available in classified settings. The department's new deals with NVIDIA and Reflection signal a desire to offer highly customizable open source models. Most leading AI models are closed, limiting how users can customize them.
[00:01:25] [SPEAKER_01] A regulatory filing shows Elon Musk's pay package at Tesla totaled over $158 billion last year. Shareholders approved the compensation plan last November, which was designed to motivate Musk to spend more time at the EV maker. The 10-year deal could be worth $1 trillion if Musk hits every milestone, including growing Tesla's market cap to $8.5 trillion, delivering 20 million cars, putting 1 million robo-taxis into service, and selling 1 million humanoid robots.
[00:01:56] [SPEAKER_01] And Apple reported better-than-expected revenue in the second quarter as sales from iPhones jumped more than 20%. Customers excited by the iPhone 17 lineup continue to upgrade their devices at a brisk pace. The company says the results might have been even better, but were hampered by a constrained supply of advanced chips that power Apple devices. CEO Tim Cook also warned that memory costs would be, quote, significantly higher beyond the June quarter and that Apple is looking for ways to offset the impact to its business.
[00:02:25] [SPEAKER_01] That's your TNB Tech Minute. Join us again this afternoon for more.
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