Weekly Tech Wrap: Nvidia Becomes Most Valuable Company, Cheaper Apple Vision Pro, More

From Adobe Acrobat getting AI images to CMF Phone 1 hitting the rumour mill, here are the biggest tech headlines from the week that was.

The surge in stock price elevated Nvidia's market capitalisation to $3.335 trillion.

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Nvidia rides AI high to topple Microsoft as the most valuable company. Apple now considering a cheaper Vision Pro offering. The world of technology was dominated by these headlines in the week that was. Take a look.

Nvidia Becomes Most Valuable Company

Nvidia has overtaken Microsoft to become the world's most valuable company. This achievement is largely due to the rising demand for Nvidia’s advanced processors, which are crucial in the fast-evolving field of artificial intelligence.

On Tuesday, Nvidia's stock price increased by 3.5 per cent, reaching $135.58 per share. This surge in stock price elevated Nvidia's market capitalisation to $3.335 trillion. This accomplishment comes shortly after Nvidia had moved past Apple, making it the second most valuable company just a few days prior.

Meanwhile, Microsoft's market value saw a minor decline, falling to $3.317 trillion. Apple also experienced a decrease, with its market value dropping to $3.286 trillion after a stock decline of more than 1 per cent.

A Cheaper Vision Pro Soon?

Apple's Vision Pro is now facing a downturn in sales. Launched to much fanfare, the $3,499-worth device initially saw a strong demand among consumers willing to invest in its advanced features. However, recent reports indicate a significant drop in sales, prompting Apple to reconsider its strategy.

Now, the Cupertino giant is reportedly exploring ways to reduce the Vision Pro's manufacturing costs. This involves identifying less expensive internal components that could bring down the overall price of the headset. In addition, Apple is rumoured to be developing a more budget-friendly version of the Vision Pro, potentially targeting a market release by late 2025.

Industry insiders suggest that the hefty price tag and the device's cumbersome design are major factors contributing to the decline in sales. Apple’s internal assessments reportedly indicate that these issues have deterred potential buyers, leading the company to rethink its approach to the Vision Pro product line.

Adobe Acrobat Gets AI Image Generator

Adobe has unveiled a significant update to its Acrobat PDF editor and viewer, bringing AI image generation to the forefront. This enhancement, part of a broader upgrade to the software, aims to elevate the AI Assistant feature introduced in February.

The upgraded AI Assistant, initially known for providing AI-generated summaries and a responsive chatbot for document-related queries, now includes robust AI image generation capabilities. This move underscores Adobe's commitment to integrating advanced AI functionalities into its products, enhancing user experience and productivity.

'Data-Hungry' Smart Devices

As per a recent Surfshark study, tech giants Google and Amazon have emerged as the leading data collectors from smart home devices. The investigation examined nearly 290 apps linked to over 400 smart home gadgets, including security cameras and smart vacuum cleaners.

The findings revealed Amazon's virtual assistant, Alexa, as the most prolific data harvester. Alexa collects an alarming 28 out of 32 possible data points, which encompass a wide array of information such as user identity, location, and even health data.

The study underscores growing concerns over privacy and data security, highlighting the extensive reach of these smart home technologies into personal lives. As consumers become increasingly reliant on smart devices, the need for stringent data protection measures becomes ever more crucial.

CMF To Bring Maiden Phone Soon

Nothing’s affordable sub-brand, CMF, is expected to release its first phone, the CMF Phone 1, soon. It is largely rumoured to be a budget smartphone distinguished by its unique wheel dial feature at the bottom. While the company has yet to announce an official release date, the launch is expected to happen soon.

The CMF series has been promoted as an affordable way for consumers to experience the innovative design and functionality associated with the Nothing brand. The forthcoming CMF Phone 1 continues this trend, aiming to provide cost-effective options without compromising on style or usability.

That’s it from the world of tech headlines this week. Stay tuned to this space for more top stories next week.

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