mark gurman broke the scoop for us. why have they given up on this project they dedicated so much resources and people to over so many years? >> tuesday morning, california time, the apple ceo and vice president of technology in charge of the car project announced to 2000 staffers on the special projects group that the work on the car would wind down immediately. the company came to this decision after many years, many starts and strategy changes, after realizing they may not create something better than a tesla that is cost-effective and gave them the margins they are accustomed to. this is a bombshell decision. one of the biggest revelations to come out in a number of years . we will closely follow the fallout from this development in the coming days. tom: a bombshell decision, as you say. what is your view on to what extent artificial intelligence played a role, at least, apple's perceived need to catch up on the question of generative ai and allocate resources. >> ai and artificial intelligence was a factor, but not

here with more, the man with the scoop, mark gurman. talk us through. ll been waiting with baited breath as to how apple adopts ai. mark: thanks for having me. it is the year of ai for apple. generative ai and large language models to be specific. the company is working on new initiatives to run on both the iphone and the mac. one of the most important things is setting your infrastructure and foundation to integrate ai into your products. the most core thing you can do is add artificial intelligence to your programming tools. that is xcode, the software used by developers. inside apple and outside apple. they will be adding ai to that. ed: i'm interested on the pressure if you read the detail in your story, which is terrific, by the way, the board was given a demo of the latest in ai at the end of last year, and they almost reeled. they said, you three key personnel, give us product. mark: apple's senior vice president of software engineering has taken the bull by the horn. he is a huge proponent of llms and generative ai. he was the one pushing and inv

ed: bloomberg's mark gurman. great photographs of you wearing the next generations smart glasses. trump won south carolina's primary over the weekend, further tightening his grip over the nomination. the role of ai in this election cycle and much more on the states targeting that tech with new legislation. we will also get shares of intuitive machines, we are down 32%. you know the image in your head. it's the lander on its side on its moon. america is back on the moon. it is just not standing upright. this is bloomberg technology. ♪ what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh ♪ ed: welcome back to bloomberg technology. as mondays go, it's a business one peer let's start with some markets. this is more like a psa from last week. amazon has replaced allianc

su keenan, mark gurman, and our bloomberg intelligence analyst with us.e have a big conversation when it comes to the huge demand of chips we've seen that of ai. ed ludlow is jennie bond with the nvidia ceo. >> we welcome the nvidia ceo. jensen, the conversation is changing to sovereign ai, and you yourself aren't toronto canada. my understanding is you just met with canadian government officials. what did you agree on? >> i met with minister champagne. i am here to celebrate the research center that we have here in toronto. you probably know the university of toronto is as close to the epicenter of modern ai as it gets. a professor was here, the advances in deep learning, i have met many of them in the early days of the invention of modern ai. so we started our research lab here. there is a large ai community here, and what is needed is for canada to have public infrastructure that supports the ongoing advancement of ai research and to support local startups and local industries. one of the things about generative ai is it is a form of computer science,

let's bring in mark gurman for more. the reality has not yet arrived. ple wants to front run night. mark: that's right. quantum computing, some estimates indicate these types of computers, which are super-duper computers, will not arrive until the tail end of the decade, or deep into the 20 30's. apple is starting to prepare for that. let me tell you why. there is something called harvest now, decrypt later attacks. what that means is, someone could steal some data now, even though it is unbreakable now, quantum computers may be able to break it open, right? apple wants to start that -- stop that from happening. they don't want someone to steal imessage data in 2025 and crack it open in 2022. that is what this new technology is going to do. it is much-improved encryption for the platform. it is rolling out next month when apple releases its next software update. it is iowa west 17.4. it is going -- ios 17.4. caroline: i'm interested in your reporting you have done overnight on some executive changes going on at apple. this seems to be a never ending stor

mark gurman, we thank you so much for bringing us all things apple today. coming up, we are going to be discussing the state of crypto. the industry more broadly. hack vc is going to join us. just raised 150 million dollars for a new opportunity fund. let's get a quick check on shares of walmart. it is up 4%. yes, their earnings topped expectations, they are also buying smart tv maker vizio. keep an eye on that stock. this is "bloomberg technology." ♪ it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free. >> it coin is the exit strategy. it is the strongest asset. so, what we see right now is that bitcoin has just emerged as a $1 trillion asset class. and it is alongside names like apple and goo

apple is shutting down its car project after a decade of work, full kudos to bloomberg's mark gurman, he is going to join us in a few moments pretty broke that story. that is the moment with mark broke the story. the stock would've been lower on tuesday and look at the gain on it. we are flat now but the reaction globally has been pretty profound. we know some of the 2000 people working on the project will lose their job. some will be shifted into apples work on generative ai according to marx reporting. for me this story was about 10 years where apple did not know what that end car ev product would eventually look like. and you've seen it all over social media overnight this morning it's the one thing everyone is talking about. caroline: a big backtrack. they talked about it over that decade-long process. here is tim cook and what they had to say about plans in 2017. tim: we see it as the mother of all ai projects. it's probably one of the most difficult ai projects to work on and so autonomy is something that is incredibly exciting for us and we will see where it takes us. caroline:

mark gurman joins us now. are you hearing and how seriously should we take these considerations? >> what i'm hearing is apple is looking all sorts of new wearable devices to augment airpods and the vision pro and the apple watch. they looked at a smart ring similar to what samsung introduced formally this week. i don't believe the smart ring is currently still in development or something that apple is planning to bring to market. more interestingly, they can blend ar nai into new devices. when consideration is smart glasses. they're not ar glasses but glasses with clear lenses that use special speakers and external cameras that use ai. it's also voice control. the cameras can see what you are looking at and you can use your voice to help understand your surroundings. you can use your voice like you normally would with siri and it would be an upgraded type of airpods with better battery life and better sensors. they are looking at adding that same technology into airpods so having cameras and airpods so they co