Lana

See, Apple's memory chip suppliers are pivoting away from smartphones and toward higher margin hardware, which is tightening their supply and more than doubling the prices of some components.

Apple was slow to adapt to the whole AI upgrade thing last year, but now the tech is becoming table stakes.

It needs to catch up fast.

So rather than building its own AI system from scratch, Apple's taking a shortcut.

Google will power Apple's new AI features, including Siri, for roughly $1 billion a year.

That could be a risky play.

See, the iPhone's entire pitch against Android rests on differentiation.

And now they'll both run on the same underlying intelligence layer.

Before we dive into the next story, it's time for our daily check-in with Carl.

You've got questions, he's got your answers.

Carl, what have you got for us?

Thanks, Carl.

Next up...

OpenAI and Anthropic are running tech's infinite money hack, raising fresh billions from the likes of Nvidia, Microsoft, and Amazon, then sending the cash straight back to them.

OpenAI is hoping to raise up to $100 billion at a valuation near $750 billion, which would be one of the biggest private funding rounds ever.

Besides some state-owned funds, checks are expected to come from familiar names like Nvidia, Microsoft, and Amazon, the very same companies that supply ChatGPT's creator with chips and cloud computing.

Meanwhile, Anthropic, OpenAI's closest rival, just upped its most recent funding round, doubling the amount it was seeking from $10 to $20 billion, at a roughly $350 billion valuation.

When the round closed on Tuesday, the figure landed somewhere in between, but it could still grow if the likes of Microsoft and Nvidia get involved.

All this fundraising is a prime example of the infinite money loop.

First, OpenAI and Anthropic raise cash from firms that offer computing power.