Elon Musk threatens to ban Apple products over AI

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Elon Musk might ban Apple products at his companies.

Transcript

00:00 I'm Conway Gittins reporting from the New York Stock Exchange.

00:02 Here's what we're watching on the street today.

00:04 A late day reversal sent the S&P 500 and the Nasdaq to record closing highs for the second

00:09 day running.

00:10 The Dow, however, faltered a bit.

00:12 Wall Street is bracing for the latest inflation reading from the Consumer Price Index and

00:16 results from the Federal Reserve.

00:19 Policymakers wrap up their two-day meeting on June 12th and are likely to provide clues

00:23 on how many interest rate cuts could be in the pipeline for this year.

00:27 Separately, shares of Apple surged 7 percent, touching an all-time high.

00:33 Investors took a second look at Apple's AI strategy and decided while it may not be revolutionary,

00:39 it will likely have wide consumer appeal.

00:42 Sticking with AI, or Apple Intelligence as Apple likes to call it, Elon Musk is weighing

00:47 in with a resounding "thanks, but no thanks."

00:50 He went on X Monday to say that he will ban iPhones, iPads and Macs in the office if Apple

00:56 integrates ChatGPT into the Apple operating system.

01:00 The ban would be in effect for all his companies, including SpaceX and X.

01:05 Even visitors would have to leave their devices at the door.

01:08 Musk wrote that the Apple-ChatGPT combo would be "an unacceptable security violation."

01:16 There's bad blood between Musk and ChatGPT owner OpenAI.

01:20 Musk was a co-founder back in 2015, but left and now runs a competitor called XAI.

01:27 That'll do it for your daily briefing from the New York Stock Exchange.

01:30 I'm Conway Gittens with the Street.

01:31 [BLANK_AUDIO]

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