Apple Fined Nearly $2 Billion by the European Union Over Music Streaming Competition 

In this Jan. 3, 2019, file photo the Apple logo is displayed at the Apple store in the Brooklyn borough of New York. (AP)
In this Jan. 3, 2019, file photo the Apple logo is displayed at the Apple store in the Brooklyn borough of New York. (AP)
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Apple Fined Nearly $2 Billion by the European Union Over Music Streaming Competition 

In this Jan. 3, 2019, file photo the Apple logo is displayed at the Apple store in the Brooklyn borough of New York. (AP)
In this Jan. 3, 2019, file photo the Apple logo is displayed at the Apple store in the Brooklyn borough of New York. (AP)

The European Union leveled its first antitrust penalty against Apple on Tuesday, fining the US tech giant nearly $2 billion for breaking the bloc's competition laws by unfairly favoring its own music streaming service over rivals.

Apple banned app developers from "fully informing iOS users about alternative and cheaper music subscription services outside of the app," said the European Commission, the 27-nation bloc’s executive arm and top antitrust enforcer.

That is illegal under EU antitrust rules. Apple behaved this way for almost a decade, which meant many users paid “significantly higher prices for music streaming subscriptions,” the commission said.

The 1.8 billion-euro fine follows a long-running investigation triggered by a complaint from Swedish streaming service Spotify five years ago.

The EU has led global efforts to crack down on Big Tech companies, including a series of multbillion-dollar fines for Google and charging Meta with distorting the online classified ad market. The commission also has opened a separate antitrust investigation into Apple's mobile payments service.

The commission's investigation initially centered on two concerns. One was the iPhone maker's practice of forcing app developers that are selling digital content to use its in-house payment system, which charges a 30% commission on all subscriptions.

But the EU later dropped that to focus on how Apple prevents app makers from telling their users about cheaper ways to pay for subscriptions that don’t involve going through an app.

The investigation found that Apple banned streaming services from telling users about how much subscription offers cost outside of their apps, including links in their apps to pay for alternative subscriptions or even emailing users to tell them about different pricing options.

The fine comes the same week that new EU rules are set to kick in that are aimed at preventing tech companies from dominating digital markets.

The Digital Markets Act, due to take effect Thursday, imposes a set of do's and don'ts on “gatekeeper” companies including Apple, Meta, Google parent Alphabet, and TikTok parent ByteDance — under threat of hefty fines.

The DMA's provisions are designed to prevent tech giants from the sort of behavior that's at the heart of the Apple investigation. Apple has already revealed how it will comply, including allowing iPhone users in Europe to use app stores other than its own and enabling developers to offer alternative payment systems.

The commission also has opened a separate antitrust investigation into Apple’s mobile payments service, and the company has promised to open up its tap-and-go mobile payment system to rivals in order to resolve it.



Nvidia Wins Fast-Growing AI Startup Modal for New Central Processors

The Nvidia logo and a keyboard in this illustration taken October 19, 2026. (Reuters)
The Nvidia logo and a keyboard in this illustration taken October 19, 2026. (Reuters)
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Nvidia Wins Fast-Growing AI Startup Modal for New Central Processors

The Nvidia logo and a keyboard in this illustration taken October 19, 2026. (Reuters)
The Nvidia logo and a keyboard in this illustration taken October 19, 2026. (Reuters)

Nvidia ‌has won central processor chip business with another fast-growing AI startup that until now relied entirely on chips from Intel and AMD, an early sign that its push into a market long controlled by those two rivals has traction.

Modal, a cloud-computing startup that rents out computing power to AI developers, said it plans to start using Nvidia's new Vera central processor for the first time for hosting agents, the AI systems that can carry out long-running tasks for human users. Modal until ‌now has ‌run such work only on Intel and AMD ‌chips.

Modal ⁠last week raised $750 ⁠million in a funding round led by Accel at a $15.75 billion valuation, saying it is on track to record $1 billion in sales over the next year. Modal said usage of its services has tripled and revenue has grown more than 15 times year-over-year.

Modal said Monday that early tests showed the ⁠new Nvidia chip doubled the amount of work ‌that AI agents can ‌get done, prompting the company to support Nvidia's chip design for the first ‌time, which will require some deep software changes ‌on Modal's side.

But Chief Executive Erik Bernhardsson was careful to stress it is not abandoning its existing suppliers. The company said it will run the Nvidia chips alongside its current Intel and AMD offerings in ‌a mixed fleet, putting each job on whatever hardware runs it best.

Bernhardsson said the tests ⁠were run ⁠against the Intel and AMD chips already on the market. Both Nvidia rivals are developing newer models that could narrow the gap with Nvidia.

"We'll test them when they're available," he said, adding that running a mixed setup means the company "can always deploy whatever hardware performs best."

Nvidia has told investors it expects to generate at least $20 billion from Vera chip sales this fiscal year, its opening bid for a market it values at roughly $200 billion. Nvidia has previously said OpenAI, Anthropic and Oracle also plan to use the chips, along with AI startups such as Perplexity.


Musk Says Will Give SpaceX Share to 'Every Kid in America'

FILE PHOTO: SpaceX logo and miniature satellite model are seen in this illustration taken, March 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: SpaceX logo and miniature satellite model are seen in this illustration taken, March 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Musk Says Will Give SpaceX Share to 'Every Kid in America'

FILE PHOTO: SpaceX logo and miniature satellite model are seen in this illustration taken, March 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: SpaceX logo and miniature satellite model are seen in this illustration taken, March 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Tech billionaire Elon Musk said on Monday that he would give every child in the United States a share in his SpaceX rocket company.

"Next year, I will give one of my SpaceX shares to every kid in America," Musk, the richest man in the world, said on X.

"This will be the first of many," he said, without providing details about how the scheme would work, AFP reported.

There are around 73 million children under the age of 18 in the United States, according to 2024 data from the US Census Bureau.

Musk owns 38 percent of SpaceX, according to Forbes.

His announcement comes after President Donald Trump promised last month to give every American adult $5,000 if his Republican party retains control of Congress in November's midterm elections.

SpaceX set the record for the largest initial public offering in history, raising $85.7 billion in June.

The company's Starship megarocket reached orbit for the first time in September, a milestone for the rocket central to Musk's Mars ambitions.


Samsung to Use TSMC Technology for Nvidia's Next-generation Memory Chips

FILED - 01 September 2012, Berlin: FILE PHOTO - The logo of the South Korean company Samsung is seen at the International Consumer Electronics Fair IFA. Photo: Robert Schlesinger/dpa-Zentralbild/dpa
FILED - 01 September 2012, Berlin: FILE PHOTO - The logo of the South Korean company Samsung is seen at the International Consumer Electronics Fair IFA. Photo: Robert Schlesinger/dpa-Zentralbild/dpa
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Samsung to Use TSMC Technology for Nvidia's Next-generation Memory Chips

FILED - 01 September 2012, Berlin: FILE PHOTO - The logo of the South Korean company Samsung is seen at the International Consumer Electronics Fair IFA. Photo: Robert Schlesinger/dpa-Zentralbild/dpa
FILED - 01 September 2012, Berlin: FILE PHOTO - The logo of the South Korean company Samsung is seen at the International Consumer Electronics Fair IFA. Photo: Robert Schlesinger/dpa-Zentralbild/dpa

Samsung Electronics will use TSMC's 3-nanometre process to produce base dies for Nvidia's next-generation custom high-bandwidth memory (HBM) chips, the Seoul Economic Daily reported on Sunday.

The move would mark the first time Samsung has worked with the Taiwanese contract chipmaker at ‌the HBM ‌manufacturing stage, according to ‌the report.

-Nvidia has asked ⁠Samsung, SK Hynix and Micron Technology to use TSMC's process for NVHBM base dies, and sixth-generation DRAM technology for its core dies, ⁠the newspaper said, citing industry ‌sources.

-NVHBM, ‌unveiled in August, integrates Nvidia's ‌custom memory controller into the base ‌die and is aimed at standardizing implementation across multiple memory suppliers, according to the company.

-Samsung accepted ‌Nvidia's requirements after an internal review but plans to ⁠retain ⁠its in-house production model for standard HBM and custom products for other customers, Seoul Economic Daily said.

-It is also assessing whether its own foundry could produce NVHBM base dies if demand exceeds TSMC's capacity, the newspaper quoted an unnamed source as saying.