Musk v Altman Takeaways, Apple’s iPhone Revenue Surge, Shopify’s Increased Fintech Ambitions

Apple’s latest earnings report highlights a 22% increase in iPhone revenue and a 28% rebound in China, fueled by a revamped product portfolio and a supply chain that effectively navigates global memory constraints. Concurrently, the legal dispute between Elon Musk and OpenAI focuses on whether the organization’s shift from a non-profit to a for-profit model breached its foundational commitment to public benefit. NYU professor Gary Marcus contends that while the legal merits are complex, reverting to a non-profit structure would better prioritize AI safety and accountability. Furthermore, Shopify is seeking national money transmitter licenses to gain greater control over the billions of dollars flowing through its platform. This move signals a strategic expansion into financial services, allowing the company to deepen its role in merchant operations while continuing its long-standing payment processing partnership with Stripe.