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Top stories today:
- Apple to halt sales of Watch Series 9 due to patent ruling
- Adobe abandons $20B Figma acquisition
- OpenAI's board can now reverse mgmt.'s AI safety decisions
- Meta's VR market share drops to 49% in Q3
- Mixtral offered at $0.27/1M tokens, vs. $2 for GPT 3.5 Turbo
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).
All times are ET.
1. Apple to halt sales of Watch Series 9, Ultra 2 due to patent ruling, starting Dec. 25
In October, the U.S. International Trade Commission (ITC) found the Apple Watch violates Masimo's patent rights.
Apple is working on a software workaround, but it might not happen in time.
2. Adobe abandons $20B Figma acquisition due to EU, UK regulatory hurdles
Figma's ARR is at $600M, +40% YoY.
May raise privately at $9B.
Figma will get a $1B breakup fee, which Adobe may be happy to pay, since it won't have to buy Figma at 33x P/S.
Liquidity for startups is going down, given the anti-M&A posture of most global governments.
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4. OpenAI's board can now reverse management decisions related to safety
OpenAI's trust and safety team had previously been split up, and now that has been made permanent.
