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  • 🚀 A $200 Billion Bite 🍎

🚀 A $200 Billion Bite 🍎

PLUS: The Tropical Island with an AI Treasure 💰

Hi Everyone. This is Take Off. We're like a hidden Easter egg in your favorite video game - surprising, delightful, and adding an extra layer of fun to your tech news consumption.

Here's what we're serving up today:

  • A $200 Billion Bite 🍎

  • The Tropical Island with an AI Treasure 💰

  • Asteroids ☄️

A $200 Billion Bite 🍎

Apple’s annual ritual of Shell out a $1000 for a new iPhone is just around the corner but instead of preparing for the regular buzz for the event, Apple’s having to nurse a little $200 billion problem.

Tim Cook visited China a couple of months ago to showcase Apple’s friendliness towards the country during a time of high US-China tensions. He praised China by stating “Innovation is developing rapidly in China, and I believe it will further accelerate”.

It seems like he was definitely right, but what he didn’t realize was that the innovation could take a bite out of Apple itself.

The Beijing Ban

Beijing is ordering officials to stop using iPhones and is also considering extending the ban across the government and state-owned enterprises.

China has been on a mission to go full Marie Kondo on US technology. Why? Espionage worries, U.S. sanctions and the imminent tech war.

This took a serious bite out of Apple’s stock which was down 7% after this news and has wiped out $200B of market cap.

Credits: Google Finance

Apple Needs China

China’s like peanut butter to Apple’s Jelly. And, oh boy, does Apple need that sandwich.

Despite Apple’s recent efforts to diversify their manufacturing away from China, the company still heavily relies on the country.

About 50% of iPhones are made in Zhengzhou which is famously nicknamed as “The iPhone City”.

And it also so happens that Chinese people are pretty fond of not only manufacturing iPhones but buying them as well. China is Apple’s biggest market outside of the US which makes up 20% of the company’s total revenue.

The CHIP Threat

Another threat might be looming for Apple. Huawei, which was banned in the US, just launched the Mate 60 Pro last week.

What’s special in that, you ask?

Well, the Mate 60 Pro is supposed to be equipped with a new chip that is on par with American chips and is China’s response to the US trying to kneecap their semiconductor industry by imposing bans after bans.

China’s ban could lead to a drop in sales at their biggest launch events of the year. What do you think?

The Tropical Island with an AI Treasure 💰

Picture a tiny island in the Caribbean. Palm trees, sandy beaches, and... an AI Boom? Yep, you read that right!

The Caribbean’s little slice of paradise, Anguilla, is making BIG money. Not from mojitos or snorkeling tours, but from a simple internet domain.

The country has been assigned the “ai” code by the Internet Corporation for Assigned Names and Numbers.

Turns out, when you’re in charge of handing out website names ending in “.ai” in 2023, tech giants and flashy startups will toss a lot of dollars your way!

Anguilla's ".ai" domain management revealed registrations have DOUBLED in just a year.

All thanks to the boom in AI tech, and an unexpected helper - OpenAI's ChatGPT. Apparently, ever since ChatGPT made its dramatic entrance to the digital stage, the AI hype train's been full steam ahead.

Google, Facebook, Microsoft, and more giants are hopping aboard the ".ai" express. It’s like the dot-com boom of the '90s, but with a lot more beach vibes!

Anguilla brought in $7.4 million from .ai domain registrations in 2021, according to public records. It was previously estimated it would receive $8.3 million from domain registrations in 2023.

Now it’s estimated that Anguilla will bring in between $25 million and $30 million this year.

Source: Bloomberg

That’s A LOT of piña coladas. Or, more accurately, it's about 10% of the island's GDP!

Say What!

In a world where everyone's jostling for the perfect domain, Anguilla’s sitting pretty on a digital goldmine they didn’t even know they had!

Who knew that a country’s most lucrative export could be a couple of letters?

☄️ Asteroids ☄️

Instacart is gearing up to go public, aiming for a valuation between $8.6-$9.3 billion! They've faced valuation changes but are set to shake up the quiet IPO scene. They'll join big names like Uber and Airbnb on the market. 📈🛒 

Roblox introduces Roblox Connect for virtual hangouts. They're working on super-realistic avatars and facial expressions. Plus, they're launching on PS4 and PS5 soon! 🕹️🥳 

WhatsApp's latest Android beta hints at cross-platform chats. This comes after the EU pushed big tech to play nice and be more open. 🔄📱

⚒️ Trending Tools ⚒️

💳️ Credit chip - Decentralized Automated Payment Processor with AI

☁️ Icinga - Monitor your entire infrastructure

🐇 CodeRabbit- Accelerate Code Reviewswith AI

📱 Clevis - App builder for AI-powered apps.

📰 Recommended Reading 📰

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