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Tech Across the Globe

Apple pep talk: Apple Chief Executive Officer Tim Cook told staff the company is making significant progress on artificial intelligence and has an “amazing” line of future products during an all-hands meeting after the iPhone maker’s better-than-expected quarterly results. 

SAP deal: Europe’s most-valuable company agreed to purchase human resources software firm SmartRecruiters. SAP didn’t disclose the terms of the deal for the San Francisco-based company, which was valued at $1.5 billion in a 2021 funding round.

Food delivery battle: Meituan, Alibaba and JD.com pledged to reduce “disorderly competition” and cease the price war that has threatened to erode margins and prompted warnings from government agencies.

Revalued

Surge AI, a leading data-labeling startup, is in talks to raise about $1 billion in its first round of funding at a valuation of at least $25 billion, which would make it one of the most-valuable closely held companies in the US. 

Must Read

While chipmakers have been a favorite this year of investors excited about the leaping demand for artificial intelligence tools, the focus from Wall Street has raised the bar on performance, Ian King reports in today’s Tech In Depth. In the past few weeks, the shares of Texas Instruments, Qualcomm, Arm and Intel have been rocked after the companies failed to meet those high expectations. Next up: Advanced Micro Devices and its CEO Lisa Su report results on Tuesday.  

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This Week in Game On

When Nintendo announced it would sell the Switch 2 launch game Mario Cart World for $80, it seemed inevitable that the rest of the video game world would follow, Jason Schreier reports in this week’s Game On. But something strange happened: the momentum swung back, popular games were priced at $70 and it looks like the industry’s rush to $80 games has stalled for now, he writes.

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