Apple CEO Tim Cook attends the Allen & Company Sun Valley Conference on July 08, 2021 in Sun Valley, Idaho.
Kevin Dietsch | Getty Images
At Apple’s annual launch event this week, it revealed new iPhones, iPads and Apple Watches, all of which were refinements of previous models.
What Apple didn’t release, however, was a new kind of product — Apple’s “next big thing” which customers hope will be extremely cool and investors hope will drive another decade or more of Apple growth, like the iPhone did before it.
In previous years, Apple and its CEO Tim Cook have emphasized “augmented reality,” or AR, which is a term for a collection of technologies that use advanced cameras and modern chips to be able to understand where objects are in relation to the user and place computer graphics or information over a screen showing the real world.
Eventually, believers like Facebook’s Mark Zuckerberg say augmented reality technologies will be bundled into a headset or glasses, which could represent a sea-change for the technology industry like how the original iPhone’s touchscreen created billion-dollar companies.
But at Tuesday’s event, augmented reality technology didn’t make an appearance, except for a brief mention of one AR app that runs on iPads.
Justine Ezarik, who goes by iJustine on her popular YouTube page, brought up the lack of AR at the launch in a video interview with Cook posted after the event.
In his answer, Cook repeated some of the things he’s said about AR in the past, but continued to be very bullish on the technology, calling himself “AR fan number one.”
“I think AR is one of these very few profound technologies that we that we will look back on one day and went, how did we live our lives without it?” Cook said.
Cook said that the main uses for AR technology include education, collaboration and shopping for furniture while making sure it fits in the user’s home.
“And that’s at the early innings of AR,” Cook said. “it will only get better.”
Competitors releasing glasses
AR backers say that wearing computer glasses will be a normal, everyday experience, like using a smartphone is today.
Apple has never confirmed it is building AR headsets, despite buying several startups working on key building blocks like transparent screens built into lenses and hiring hundreds of employees to work in its Technology Development Group on the project.
Some of Apple’s closest competitors have already released headsets.
The lack of AR announcements at Apple’s event is not a hint that Apple has given up on the technology. Apple’s launch events are focused on hardware and products customers can buy now — not providing clues about releases in upcoming years.
None of Apple’s new devices got AR hardware, unlike in the past few years, when some models added lidar sensors that can measure how far away an object is. The new iPhone Pro’s cameras do have improved night mode, which could be a useful feature for headsets in low-light.
So far, in public, Apple has generally treated AR as a software feature. It built tools called ARKit and RealityKit for app developers to make their own iPhone AR apps without doing hard physics like triangulating the location of the user or detecting hands and faces.
Those tools did make an appearance before Apple’s event. Users with AR-capable iPhones could download a file from Apple’s website that created a portal to a California landscape, which was the theme of Apple’s launch.
Apple’s new city navigation feature in Apple Maps.
Apple
The iPhone software launching on Monday, iOS 15, includes a mode where Apple Maps overlays walking directions onto the real world — big arrows telling the user where to go, on the iPhone’s screen — in a preview of what could be a major feature for a headset.
One challenge about these technologies is what to call them. Some people in the industry prefer the term “mixed reality,” which is less technical-sounding. The CEOs of Microsoft and Facebook, which are perhaps the most enthusiastic big companies about augmented reality, have started to talk about a “metaverse,” or a digital world overlaid on top of the real world.
Cook and Apple, for now, are sticking with “augmented reality.”
“There’s clearly different words out there. I’ll stay away from the buzzwords and for the moment just call it augmented reality,” Cook said in an interview with Time published this week.
Chris Martin of Coldplay performs at the O2 Shepherd’s Bush Empire on October 12, 2021 in London, England.
Simone Joyner | Getty Images Entertainment | Getty Images
Astronomer, the technology company that faced backlash after its CEO was allegedly caught in an affair at a Coldplay concert, said the CEO has resigned, the company announced Saturday.
“Andy Byron has tendered his resignation, and the Board of Directors has accepted,” the company said in a statement. “The Board will begin a search for our next Chief Executive as Cofounder and Chief Product Officer Pete DeJoy continues to serve as interim CEO.”
Byron was shown on a big screen at a Coldplay concert on Wednesday with his arms around the company’s chief people officer, Kristin Cabot. Byron, who is married with children, immediately hid when the couple was shown on screen. Lead singer Chris Martin said, “Either they’re having an affair or they’re just very shy.” A concert attendee’s video of the affair went viral.
In May, Astronomer announced a $93 million investment round led by Bain Ventures and other investors, including Salesforce Ventures.
Byron’s resignation comes after Astronomer said Friday that it had launched a “formal investigation” into the matter, and the CEO was placed on administrative leave.
“Before this week, we were known as a pioneer in the DataOps space, helping data teams power everything from modern analytics to production AI,” the company said in its Saturday statement. “Our leaders are expected to set the standard in both conduct and accountability, and recently, that standard was not met.”
Jensen Huang, co-founder and CEO of Nvidia Corp., speaks during a news conference in Taipei on May 21, 2025.
I-hwa Cheng | Afp | Getty Images
Nvidia CEO Jensen Huang sold 75,000 shares on Friday, valued at about $12.94 million, according to a filing with the U.S. Securities and Exchange Commission.
Friday’s sale is part of a plan adopted in March for Huang to sell up to 6 million shares of the leading artificial intelligence company. Earlier this week, Huang sold 225,000 shares of the chipmaker, totaling about $37 million, according to a separate SEC filing. The CEO began trading stock per the plan last month.
Surging demand for AI and the graphics processing units that power large language models has significantly boosted Huang’s net worth and pushed Nvidia’s market capitalization beyond $4 trillion, making it the world’s most valuable company.
Nvidia announced this week that it expects to resume sales of its H20 chips to China soon, following signals from the Trump administration that it would approve export licenses. Earlier this year, U.S. officials had stated that Nvidia would require special permission to ship the chips, which are specifically designed for the Chinese market.
“The U.S. government has assured NVIDIA that licenses will be granted, and NVIDIA hopes to start deliveries soon,” the company said in a statement on Tuesday. Huang said during a news conference on Wednesday in Beijing that he wants to sell chips more advanced than the H20 to China at some point.
Peter Thiel, co-founder of PayPal, Palantir Technologies, and Founders Fund, holds hundred dollar bills as he speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida.
Marco Bello | Getty Images
The Peter Thiel-backed cryptocurrency exchange Bullish filed for an IPO on Friday, the latest digital asset firm to head for the public market.
The company, led by CEO Tom Farley, a veteran of the finance industry and former president of the New York Stock Exchange, said it plans to trade on the NYSE under the ticker symbol “BLSH.”
A spinout of Block.one, Bullish started with an initial investment from backers including Thiel’s Founders Fund and Thiel Capital, along with Nomura, Mike Novogratz and others. Bullish acquired crypto news site CoinDesk in 2023.
“In the first quarter of 2025, Bullish exchange executed over $2.5 billion in average daily volume, ranking in the top five exchanges by spot volume for Bitcoin and Ether,” the company said on its website. The prospectus listed top competitors as Binance, Coinbase and Kraken.
The IPO filing says that as of March 31, the total trading volume since launch has exceeded $1.25 trillion.
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The filing is another significant step for the cryptocurrency industry, which has fought for years to convince institutions to embrace digital assets as legitimate investments.
It’s already been a big year on the market for crypto offerings, highlighted by stablecoin issuer Circle, which has jumped more than sevenfold since its IPO in June. Etoro, an online trading platform that includes services for crypto investors, debuted in May.
Novogratz‘s crypto firm Galaxy Digital started trading on the Nasdaq in May, moving its listing from the Toronto Stock Exchange. And in June, Gemini, the cryptocurrency exchange and custodian founded by Cameron and Tyler Winklevoss, confidentially filed for an IPO in the U.S.
Meanwhile, investors continue to flock to bitcoin. The digital currency is trading at over $117,000, up from about $94,000 at the start of the year.
President Donald Trump, on Friday, signed the GENIUS Act into law — a set of regulations that establish some initial consumer protections around stablecoins, which are tied to assets like the U.S. dollar with the intent of reducing price volatility associated with many cryptocurrencies.
In its filing with the SEC, Bullish says its mission is partly to “drive the adoption of stablecoins, digital assets, and blockchain technology.”
Crypto industry players, including Thiel, Elon Musk, and President Trump’s AI and Crypto czar David Sacks spent heavily to re-elect Trump and have pushed for legislation that legitimizes digital assets and exchanges.