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TikTok logo is displayed on the smartphone while standing on the U.S. flag in this illustration picture taken, November 8, 2019.

Dado Ruvic | Reuters

Investors in Meta, Snap and other U.S. digital media companies have been looking for signs of a rebound after a tumultuous 2022. They got some unexpectedly optimistic news this week.

The U.S. House Foreign Affairs Committee on Wednesday voted to advance legislation that would give President Joe Biden the authority to ban TikTok, the viral video app owned by China’s ByteDance that’s been swiping market share from social media stalwarts.

Meta climbed 1% on Wednesday, and Snap was unchanged.

“Implications are great for anybody that has been losing market share to TikTok,” said Laura Martin, an analyst at Needham, in an interview. She said Snap, Meta’s Facebook and Google’s YouTube could be “huge beneficiaries” if the ban ultimately takes place.

TikTok has been on a meteoric rise in the U.S., and its impact was particularly noticeable in 2022, as a sputtering economy pulled down the online ad market.

In 2021, TikTok topped a billion monthly users. An August Pew Research Center survey found that 67% of teens in the U.S. use TikTok, and 16% said they are on it almost constantly. According to Insider Intelligence, TikTok controls 2.3% of the worldwide digital ad market, putting it behind only Google (including YouTube), Facebook (including Instagram), Amazon and Alibaba.

But data privacy concerns have been growing with TikTok because of its parent company, which is based in China and privately held. Congress banned TikTok from government devices as part of a bipartisan spending bill in December, several governors have removed the app from state computer networks —including at public universities — and Sen. Josh Hawley, R-Mo., renewed calls for a complete nationwide ban in January.

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“A U.S. ban on TikTok is a ban on the export of American culture and values to the billion-plus people who use our service worldwide,” a TikTok spokesperson said Wednesday. “We’re disappointed to see this rushed piece of legislation move forward, despite its considerable negative impact on the free speech rights of millions of Americans who use and love TikTok.”

Even with the legislation that came before the committee this week, lawmakers have a long way to go before any real ban could be implemented. Assuming this bill gets through the Republican-controlled House, the Democratic majority Senate would have to pass some version of it, which will be a challenge based on the opposition that has already been voiced by some Democrats. If it did pass the Senate, Biden would still need to decide whether to veto it or sign it.

TikTok is no stranger to challenges from U.S. officials, as former President Donald Trump declared his intention to ban the app by executive action in 2020.

ByteDance looked to potentially spin off TikTok to keep the app from being shut down, and the company forged an agreement with Trump that was to include partnerships with Oracle and Walmart, which would both become investors in TikTok.

Those deals fizzled, but Martin said it’s possible that the app could be successfully acquired this time. In that case, TikTok might be a weakened competitor and experience a period of uncertainty, but “it wouldn’t just disappear and get shut down,” Martin said.

Andrew Boone, an analyst at JMP, said Meta likely stands to benefit the most should TikTok face a U.S. ban. Facebook has been pumping money into its TikTok rival, Reels, which has yet to establish a revenue model that’s as effective as the core newsfeed.

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., left, arrives at federal court in San Jose, California, US, on Tuesday, Dec. 20, 2022. 

David Paul Morris | Bloomberg | Getty Images

Meta said during its fourth-quarter earnings call that it expects Reels to become revenue neutral by the end of the year or in early 2024. Video plays on Facebook and Instagram more than doubled within the past year.

“If TikTok were to go away, I think that there would be a lot more consumption of Instagram Reels,” Boone said in an interview. He said Snapchat’s Spotlight, introduced in 2020, and YouTube Shorts, which came out in 2021, “would also benefit.”

All three platforms had a rough 2022. Meta shares lost two-thirds of their value as the company experienced three consecutive quarters of declining revenue. Snap’s stock plummeted 81% as growth dipped into the single digits, and the company opted not to provide a forecast for two straight periods. YouTube advertising revenue fell short of analyst expectations in the fourth quarter, dropping 8% from a year earlier.

The rush to copy TikTok hasn’t gone over well in many circles.

In July, Instagram CEO Adam Mosseri shared a video explaining changes to the social media platform after celebrities like Kylie Jenner and Kim Kardashian criticized the app for “trying to be TikTok.”

A post urging the company to “make Instagram Instagram again” amassed more than 1.6 million likes and resulted in nearly 140,000 petition signatures. A month later, Mosseri announced his plans to move from San Francisco to London to help Meta lure users away from TikTok.

— CNBC’s Christina Wilkie, Lauren Feiner and Jonathan Vanian contributed to this report

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Broadcom is firing on all cylinders, and Wall Street can’t get enough of the stock

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Broadcom is firing on all cylinders, and Wall Street can't get enough of the stock

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Google to launch first of its AI glasses in 2026

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Google to launch first of its AI glasses in 2026

A Google logo is at the announcement of Google’s biggest-ever investment in Germany on November 11, 2025 in Berlin, Germany.

Sean Gallup | Getty Images News | Getty Images

Google on Monday said it plans to launch the first of its AI-powered glasses in 2026, as the tech company ramps up its efforts to compete against Meta in a heating consumer market for AI devices.

The Alphabet-owned company is collaborating on hardware design with Samsung, Gentle Monster and Warby Parker, with whom Google agreed to a $150 million commitment in May.

Google plans to release audio-only glasses that will allow users to speak with the Gemini artificial-intelligence assistant, the company said in a blog. Google also said there will be glasses with an in-lens display that show users information such as navigation directions and language translations. The company said the first of these glasses will arrive next year, but it did not specify which styles that will include.

In a Monday filing, Warby Parker said that the first of its glasses in partnership with Google are expected to launch in 2026.

The glasses will be built on top of Android XR, Google’s operating system for its headsets.

Google’s Monday updates come after the company in May announced that it would be getting back into the smart glasses game. At the time, co-founder Sergey Brin said he learned from Google’s past mistakes of failed smart glasses, citing less advanced AI and a lack of supply chain knowledge, which led to expensive price points.

“Now, in the AI world, the things these glasses can do to help you out without constantly distracting you — that capability is much higher,” Brin said in May.

The AI wearables space has been gaining traction with Meta leading the pack. the social media company’s Ray-Ban Meta glasses were met with surprising success. The glasses, which were designed in partnership with eyewear giant EssilorLuxottica, are infused with the Meta AI digital assistant

Meta also released its own display glasses in September, which allows users to see features like messages, photo previews and live captions through a small display that’s built into one of the device’s lenses.

Other companies like Snap and Alibaba have also been churning out their own AI glasses offerings as the small but competitive market continues to grow.

Google on Monday also revealed more software updates to the Galaxy XR headset, including the ability to link it to Windows PCs and a travel mode that will allows the device to be used in planes and cars.

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Pressure builds on Apple and CEO Tim Cook with holiday executive shake-up

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Pressure builds on Apple and CEO Tim Cook with holiday executive shake-up

Apple chip chief weighs exit: Report

Several big shots in Cupertino are getting a career change for the holidays.

In the last seven days, there has been extraordinary turnover among Apple‘s top ranks, from its head of artificial intelligence to its top lawyer.

CEO Tim Cook now has two fewer direct reports than he did before Thanksgiving.

The executive who designed the software for the Apple Vision Pro also bounced and is heading to Meta to do the same thing for AI glasses in Menlo Park.

As if last week’s departures weren’t enough, there was another potential exit over the weekend. Senior vice president of hardware technologies Johny Srouji told Cook he wanted out soon, according to Bloomberg.

But any drama seems to have passed, with Srouji telling his staff Monday morning in a memo seen by CNBC that he isn’t planning to leave Apple any time soon.

Srouji is the chip design guru who kicked Intel while it was down and made in-house chips for Mac that performed a lot better, leading to a healthy surge in sales. Srouji is essentially the Jony Ive of chip design, a singular talent, and it is tough to imagine him leaving Apple.

An Apple spokesperson provided no comment on Srouji or any of the recently departed executives.

There are multiple ways to read into all the changes at the top of a company known for keeping a steady leadership team while producing innovative and industry-leading products.

Apple stayed the course while the tech world changed around it in just three short years, as the entire industry has made a massive pivot to AI.

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So it was no surprise AI chief John Giannandrea was out last week. It was on him to deliver an innovative AI experience on the iPhone. Instead, Apple had to admit it couldn’t launch the supercharged version of Siri it had been advertising for months.

Perhaps the new strategy of partnering with an established AI leader such as Google or Anthropic will make up for all of it, but the pressure is enormous for Apple to get it right after the flop this year.

Getting the AI launch right is important for other products as well.

If Apple isn’t going to charge for its AI system, then using it as a selling point for new hardware is its best bet to show it can make some cash.

There are already hints that 2026 is going to be a monumental year.

Some new, rumored AI product categories are expected, such as AI glasses similar to what Meta sells and a tablet for controlling all your smart home appliances.

Apple will also turn 50 on April 1 next year, and it’s expected to launch its first-ever foldable iPhone. Plus, there are more challenges ahead with a looming antitrust trial and whether Apple can maintain its truce with President Donald Trump.

Taken together, perhaps the shake-ups were necessary, especially regarding AI.

It looks like next year will show if Apple got it right.

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