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Tim Berners-Lee is credited with inventing the World Wide Web in 1989. But he has been dissatisfied with the way his original vision for the web has panned out.

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Personal artificial intelligence assistants that know our health status and legal history inside out. The ability to transfer your data from one place to another seamlessly without any roadblocks.  

These are just some of the predictions for the future of the web from the inventor of the World Wide Web, Tim Berners-Lee, on the 35th anniversary of its invention.

Berners-Lee is credited with inventing the world-changing technology in 1989 while working at CERN, the Swiss particle physics research center. 

The London-born computer scientist submitted a proposal for an information management system to help his colleagues share information among themselves. 

When it started, I couldn’t have predicted that it was going to be like this, this change.

Tim Berners-Lee

Inventor, World Wide Web

Berners-Lee got to continue working on his idea for this information sharing system, and by 1991, the World Wide Web was up and running.

When Tim Berners-Lee started work on the World Wide Web 35 years ago, he had no idea it was about to become the ubiquitous force it is today. “I couldn’t have predicted that it was going to be like this, this change,” he told CNBC.

Fabrice Coffrini | AFP via Getty Images

In 1993, Berners-Lee convinced CERN to release the Web protocol and source code into the public domain without any patents or fees. Berners-Lee has attributed the runaway success of the web to this decision.

Berners-Lee remembers what things were like when the web got started 35 years ago. “When it started, I couldn’t have predicted that it was going to be like this, this change,” he told CNBC.

He could tell there were signs the web was going to grow in a big way early on, though. Traffic to the very first website, info.cern.ch, “was going up by a factor of 10 every year, so doubling every four months.” 

“We lost track of the logs because they cut off,” Berners-Lee recalls. “Now this is going to be a serious thing. We need to make sure it doesn’t collapse.”

In the decades that have passed since the web’s creation, Berners-Lee sees some of the downsides that have come about. For one, social media feeds tailored by AI algorithms have meant people “feeling angry and upset, or hateful,” he says.

Meanwhile, the ease of producing content on social media platforms and spinning up new websites and blogs has led to a “disempowerment” for people and businesses — and a loss of ownership over our data, he adds.

But Berners-Lee still has some optimism for the future. Here are some of his top predictions for what the web will look like in the next 35 years.

Prediction 1: Everyone will have a personal AI assistant 

One of Berners-Lee’s big predictions is that AI will transform the way we interact with the web.  

With the arrival of generative AI tools like Microsoft-backed OpenAI’s ChatGPT, tech firms are betting consumers will become much more engaged with digital chatbots to get information they need and help them produce written materials and even code. 

There are already firms trying to reimagine what our interaction with the web will look like using AI-powered devices, including Samsung with its Galaxy S24 smartphone, and U.S. startup Humane AI with its wearable Pin device. 

You will have an AI assistant that works for you, like a doctor.

Tim Berners-Lee

Inventor, World Wide Web

Berners-Lee thinks that one day we’ll have AI assistants that work for us — similar to our doctors, lawyers, and bankers.

“Some people worry about whether, in 35 years, AI will be more powerful than us,” Berners-Lee told CNBC via a Zoom video call last week. 

“One of the things I predict — but it’s something we may have to fight for — is you will have an AI assistant, which you can trust, and it works for you, like a doctor,” Berners-Lee said.  

Robert Blumofe, global chief technology officer of Akamai, said he thinks the web will cease being something that humans use — and that AI agents will take the reins on our behalf. 

“You can imagine a world years from now where the web is a realm of AI agents and humans no longer effectively use the web,” Blumofe told CNBC in an interview last week. 

“It would all be done through AI agents; you would never go directly to your bank account online, or your health provider online, or any e-commerce sites.”

Akamai was founded in response to a challenge Berners-Lee posed at the Massachusetts Institute of Technology in early 1995 to create a new way of delivering web content to end users faster.

Three decades after inventing the web, Tim Berners-Lee has some ideas on how to fix it

Blumofe still thinks we’ll go online for entertainment TV shows, movies, and video games. But he thinks a lot of the daily functions of our online lives will in future be managed by AI. 

“Human beings can go back to our lives in the physical world greeting each other face to face as a physical experience, rather than a virtual experience,” he said. 

Prediction 2: We’ll take true ownership of our data across all platforms — including VR 

Another thing Berners-Lee is forecasting is a web in which we’ll all have full control of our data. 

So, rather than handing away ownership of our data to Google, Meta, Amazon, Apple, Microsoft and other tech giants, we’ll instead be able to own our data through a data store, or “pod.” 

“You’ll think of your data pod as your digital space, you’ll think of it as being one thing you’re very comfortable with,” Berners-Lee explains. 

Pods are a technology Berners-Lee is working on with his startup Inrupt.  

Tim Berners-Lee is forecasting is a web in which we’ll all have full control of our data. So, rather than handing away ownership of our data to Google, Meta, Amazon, Apple, Microsoft and other tech giants, we’ll instead be able to own our data through a data store, or “pod.”

Sebastian Derungs | Afp via Getty Images

Inrupt is behind something called the Solid protocol, which “aims to radically change the way Web applications work today, resulting in true data ownership as well as improved privacy.”

In 2022, the firm raised $30 million from venture capital firms including Forte Ventures, Akamai, and Glasswing Ventures. 

You can go do things with a VR headset, and then when you take the VR headset off, you could do it with a huge screen. And whenever you move, you can grab your phone and the experience will be as one. It should very smoothly go between different devices. 

Tim Berners-Lee

Inventor, World Wide Web

In Berners-Lee’s vision for a future web, you’ll be able to use your digital pod to access all your essential applications for instance, email across your phone, but also your laptop, desktop computer, and bigger screens like TVs.

Berners-Lee added that his idea is for us to have a set of “trust apps” that we can allow to communicate with each other to share information and do important tasks much faster.  

Take, for example, buying flights. Berners-Lee predicts that the future experience for the web will be one where you can use your wallet to purchase flights off a flight aggregator, and then give it access to data you entrust it with to come up with plans for what to do at your destination. 

“All of your to do lists, calendar events and so on, and all the different parts of your data, will come together, so the ability to live your life becomes much more powerful.” 

Chintan Patel, chief technology officer for software firm Cisco in the U.K., said he thinks the web is ultimately moving to place that’s open and where information can be shared more easily.

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“Even though we have seen increasingly the web becoming a little fragmented with more siloed platforms — more information is collected, sold, even misused in many cases,” Patel said.

However, he noted that OpenAI’s ChatGPT — and several other popular generative AI tools — are powered by data sourced from the open web.

“For all its faults, the web has brought way more benefits to society and made many more things possible,” Patel said.  

Berners-Lee predicts his vision for the web will also go a step further with virtual and mixed reality, where the physical and digital world both interact through powerful headsets, according to Berners-Lee. 

“You can go do things with a VR headset, and then when you take the VR headset off, you could do it with a huge screen,” he said. “And whenever you move, you can grab your phone and the experience will be as one. It should very smoothly go between different devices.”

Mixed reality is a new dimension for accessing the web experts expect we’ll get more used to over time.

“There’s going to be some great shifts happening in terms of some serious digital connectivity,” Patel told CNBC in an interview. 

“It will be called by then some form of spatial computing and spatial environment which won’t be something we are looking for, but an immersive experience delivered to us.” 

Prediction 3: A Big Tech company could get broken up 

Another thing Berners-Lee says might happen in the future is a big tech company being forced to break up. 

Last week, the European Union’s landmark Digital Markets Act (DMA), which forces tech giants to change their platforms to allow for competitor products to flourish, officially came into force, in a major step that advocates hope will lead to a healthier tech competition landscape. 

If a tech firm breaches its obligations under the DMA, the European Commission can enforce some meaty legal measures. That includes fines worth up to 10% of a company’s global annual revenues, or 20% for repeat offenders. 

Things are changing so quickly. AI is changing very, very quickly. There are monopolies in AI. Monopolies changed pretty quickly back in the web.

Tim Berners-Lee

Inventor, World Wide Web

In some extreme cases, the Commission can demand the breakup of companies — although most antitrust lawyers think such an outcome is unlikely, given the legal hurdles Brussels may face. 

Berners-Lee said he always prefers it when tech companies “do the right thing by themselves” before regulators step in. “That’s always been the spirit of the internet.” 

He uses the example of the Data Transfer Initiative, a private initiative that launched in 2018 and is now backed by the likes of Google, Apple, and Meta, to encourage portability of photos, videos and other data between their platforms. 

“Maybe the companies were prompted a bit by the possibility of regulation,” Berners-Lee said. “But this was an independent thing.” 

However, he added: “Things are changing so quickly. AI is changing very, very quickly. There are monopolies in AI. Monopolies changed pretty quickly back in the web.” 

“Maybe at some point in the future, agencies will have to work to break up big companies, but we don’t know which company that will be,” Berners-Lee said. 

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Shares in Chinese chipmaker SMIC drop nearly 7% after earnings miss

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 Shares in Chinese chipmaker SMIC drop nearly 7% after earnings miss

A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China.

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Shares of Semiconductor Manufacturing International Corporation, China’s largest contract chip maker, fell nearly 7% Friday after its first-quarter earnings missed estimates.

After trading on Thursday, the company reported a first-quarter revenue of $2.24 billion, up about 28% from a year earlier. Meanwhile, profit attributable to shareholders surged 162% year on year to $188 million.

However, both figures missed LSEG mean estimates of $2.34 billion in revenue and $225.1 million in net income, as well as the company’s own forecasts.

During an earnings call Friday, an SMIC representative said the earnings missed original guidance due to “production fluctuations” which sent blended average selling prices falling. This impact is expected to extend into the second quarter, they added.

For the current quarter, the chipmaker forecasted revenue to fall 4% to 6% sequentially. Gross margin is also expected to fall within the range of 18% to 20%, compared to 22.5% in the first quarter.

Still, the first quarter saw SMIC’s wafer shipments increase by 15% from the previous quarter and by about 28% year-on-year.

In the earnings call, SMIC attributed that growth to customer shipment pull in, brought by changes in geopolitics and increased demand driven by government policies such as domestic trade-in programs and consumption subsidies.

In another positive sign for the company, its first-quarter capacity utilization— the percentage of total available manufacturing capacity that is being used at any given time— reached 89.6%, up 4.1% quarter on quarter.

Demand in China for chips is extremely strong, says Benchmark's Cody Acree

“SMIC’s nearly 90% utilization rate reflects strong domestic demand for semiconductors, likely driven by smartphone and consumer electronics production,” said Ray Wang, a Washington-based semiconductor and technology analyst, adding that the demand was also reflected in the company’s strong quarterly revenue growth.

Meanwhile, the company said in the earnings call that it is “currently in an important period of capacity construction, roll out, and continuously increasing market share.”

However, SMIC’s first-quarter research and development spending decreased to $148.9 million, down from $217 million in the previous quarter.

Amid increased demand, it will be crucial for SMIC to continue ramping up their capacity, Simon Chen, principal analyst of semiconductor manufacturing at Informa Tech told CNBC.

SMIC generates most of its revenue from older-generation semiconductors, often referred to as “mature-node” or “legacy” chips, which are commonly found in consumer electronics and industrial equipment.

The state-backed chipmaker is critical to Beijing’s ambitions to build a self-sufficient semiconductor supply chain, with the government pumping billions into such efforts. Over 84% of its first-quarter revenue was derived from customers in China.

“The localization transformation of the supply chain has been strengthened, and more manufacturing demand has shifted back domestically,” a representative said Friday.

However, chip analysts say the chipmaker’s ability to increase capacity in advance chips — used in applications that demand higher levels of computing performance and efficiency at higher yields — is limited.

This is due to U.S.-led export controls, which prevent it from accessing some of the world’s most advanced chip-making equipment from the Netherlands-based ASML. 

Nevertheless, the chipmaker appears to be making some breakthroughs. Advanced chips manufactured by SMIC have reportedly appeared in various Huawei products, notably in the Mate 60 Pro smartphone and some AI processors.

In the earnings call, the company also said it would closely monitor the potential impacts of the U.S.-China trade war on its demand, noting a lack of visibility for the second half of the year.

Phelix Lee, an equity analyst for Morningstar focused on semiconductors, told CNBC that the impacts of U.S. tariffs on SMIC are limited due to most of its revenue coming from Chinese customers.

While U.S. customers make up about 8-15% of revenue on a quarterly basis, the chips usually remain and are consumed in Chinese products and end users, he said.

“There could be some disruption to chemical, gas, and equipment supply; but the firm is working on alternatives in China and other non-U.S. regions,” he added.

SMIC’s Hong Kong-listed shares have gained over 32.23% year-to-date.

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Amazon adds pet prescriptions to its online pharmacy

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Amazon adds pet prescriptions to its online pharmacy

Close-up of a hand holding a cellphone displaying the Amazon Pharmacy system, Lafayette, California, September 15, 2021. 

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Amazon is expanding its online pharmacy to fill prescription pet medications, the company announced Thursday.

The company said it has added “hundreds of commonly prescribed pet medications” to its U.S. site, ranging from flea and tick solutions to treatments for chronic conditions.

Prescriptions are purchased via Amazon’s storefront and must be approved by a veterinarian. Online pet pharmacy Vetsource will oversee the dispensing and delivery of medications, said Amazon, adding that items are typically delivered within two to six days.

Amazon launched its digital drugstore in 2020 with the added perk of discounts and free delivery for Prime members. The company has been working to speed up prescription shipments over the past year, bringing same-day delivery to a handful of U.S. cities. Last October, Amazon set a goal to make speedy medicine delivery available in nearly half of the U.S. in 2025.

The new pet medication offerings puts Amazon into more direct competition with online pet pharmacy Chewy, as well as Walmart, which offers pet prescription delivery.

Amazon Pharmacy is part of the company’s growing stable of healthcare offerings, which also includes One Medical, the primary care provider it acquired for roughly $3.9 billion in July 2022. Amazon’s online pharmacy was born out of the company’s 2018 acquisition of online pharmacy PillPack.

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Coinbase acquires crypto derivatives exchange Deribit for $2.9 billion

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Coinbase acquires crypto derivatives exchange Deribit for .9 billion

The Coinbase logo is displayed on a smartphone with stock market percentages on the background.

Omar Marques | SOPA Images | Lightrocket | Getty Images

Coinbase agreed to acquire Dubai-based Deribit, a major crypto derivatives exchange, for $2.9 billion, the largest deal in the crypto industry to date.

The company said Thursday that the cost comprises $700 million in cash and 11 million shares of Coinbase class A common stock. The transaction is expected to close by the end of the year.

Shares of Coinbase rose nearly 6%.

The acquisition positions Coinbase as an international leader in crypto derivatives by open interest and options volume, Greg Tusar, vice president of institutional product, said in a blog post – which could allow it take on big players like Binance. Coinbase operates the largest marketplace for buying and selling cryptocurrencies within the U.S., but has a smaller share of the global crypto market, where activity largely takes place on Binance.

Deribit facilitated more than $1 trillion in trading volume last year and has about $30 billion of current open interest on the platform.

“We’re excited to join forces with Coinbase to power a new era in global crypto derivatives,” Deribit CEO Luuk Strijers said in a statement. “As the leading crypto options platform, we’ve built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand. Together with Coinbase, we’re set to shape the future of the global crypto derivatives market.”

Tusar also noted that Deribit has a “consistent track record” of generating positive adjusted EBITDA the company believes will grow as a combined entity.  

“One of the things we liked most about this deal is that it’s not just a game changer for our international expansion plans — it immediately diversifies our revenue and enhances profitability,” Tusar told CNBC.

The deal comes at a time when the crypto industry is riding regulatory tailwinds from the first ever pro-crypto White House. Support of the industry has fueled crypto M&A activity in recent weeks. In March, crypto exchange Kraken agreed to acquire NinjaTrader for $1.5 billion, and last month Ripple agreed to buy prime broker Hidden Road.

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