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Flight delays in Sao Paolo, Brazil. Truckers led down unsafe routes in Richmond, Vermont. And power grid disruptions throughout Ukraine. These troubles stem from a global communication system highly reliant on GPS satellites and the signals they transmit for essential functions.

To ensure that U.S. infrastructure won’t fall apart — even if the nation’s GPS satellites are disrupted by weather, warfare or age — a startup in Boulder, Colorado called Mesa Quantum is developing chip-sized alternative technology.

Specifically, Mesa Quantum is building “chip-scale atomic clocks” and other miniaturized quantum sensors, which can measure and detect changes in the environment around a device to signal where it is in the world, where it needs to go and to keep it in sync with other systems.

These sensors can ensure clear and steady video calls regardless of the users’ location, or enable robots, underwater drones and autonomous vehicles to maneuver deftly in dense populations or around obstacles where GPS signals are weak or unavailable.

Cofounded by Mesa Quantum CEO Sristy Agrawal and CTO Wale Lawal in 2023, the company has won a $1.9 million Space Force grant to demonstrate its alternative to GPS technology in military and civilian applications.

The company has also raised about $3.7 million in a seed stage round of funding led by J2 Ventures, the Boston-based health and defense tech fund, alongside hardware investors SOSV.

J2 Ventures cofounder and managing partner, Alex Harstrick, told CNBC his fund backed Mesa Quantum in part because of the founders’ extraordinary technical background.

Agrawal recently attained a doctorate from the University of Colorado, in an elite program affiliated with the National Institute of Standards and Technology. Her research has focused on quantum information, computing and gravity.

Agrawal told CNBC that the lab below her office at the university is home to the world’s most precise clock. “Working here and interacting with all these different groups led me to appreciate what impact these technologies could have for real, not just theoretically in the future,” she said.

Her cofounder, Lawal, is a graduate of the U.S. Air Force Academy, attained his PhD at Rice University in materials science and nano-engineering, and an MBA at Harvard.

Before taking the entrepreneurial plunge, he spent years in military research organizations, developing systems for use in “GPS contested environments” such as precision-guided missiles, swarm drone technology, and the magnetic navigation systems used to guide military aircraft.

Lawal explained that military aircraft and other vehicles cannot afford to have their systems disrupted and jammed. Any disruptions could lead to “catastrophic events for warfighters” in the air and on the ground. “If unmanned aircraft lose GPS signals, which they rely on to surveil the environment and provide intelligence information to troops down range, the troops cannot complete critical missions like a search and rescue.”

Many of the GPS satellites operated by the U.S. are now aging beyond their intended lifespans.

When they met, the scientific duo quickly agreed on the burgeoning need for mass-manufacturable, and chip-scale, technology to alleviate the risks of GPS-related failures in military and commercial systems.

Harstrick said his fund hopes that Mesa Quantum will have its first demonstration of mass scale “atomic clocks” (quantum timing sensors) validated by a top-tier semiconductor manufacturing partner” in the next few years.

He’s also guessing Mesa Quantum’s sensor tech will be in demand among companies that build or operate their own data centers.

Lawal explained, “Data centers use GPS to synchronize their networks today, so that they can accurately exchange communications or share data across the cloud. Any form of disruption to that network synchronization can cause crashes — whether that’s to a financial system, a hospital system, or a social network.”

Technology to help data centers safeguard against such crashes could help them prevent data loss and improve cybersecurity, the CTO said.

No matter which private sector players eventually embrace the startup’s quantum sensors, CEO Sristy Agrawal said the U.S. government is likely to be among Mesa Quantum’s biggest early customers. “The U.S. government has established major initiatives to spur innovation in this area and is seeking to purchase a million quantum sensors each year — if they can simply be mass-produced,” she explained.

With its grant funding and seed round in place, Agrawal said, Mesa Quantum will look to grow its team in Boulder, especially hiring atomic molecular and optical physicists, engineers and manufacturing experts this year.

The longer-term vision, she said, is to “bring a suite of quantum sensors to the market that could do everything GPS-based systems are capable of today — without all of the risks and vulnerabilities.”

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Amazon’s ad business grew 19% in first quarter, topping estimates

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Amazon’s ad business grew 19% in first quarter, topping estimates

A woman cleans the store window of the Amazon house after activists sprayed paint on its logo during a protest on the opening day of the 55th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan. 20, 2025.

Yves Herman | Reuters


Amazon reported a 19% increase in online ad revenue in the first quarter, beating analysts’ estimates.

Ad sales climbed to $13.92 billion, while analysts on average were expecting $13.74 billion, according to StreetAccount.

The numbers were contained in Amazon’s first-quarter earnings report. The company reported total first-quarter sales of $155.67 billion, compared to Wall Street projections of $155.04 billion.

Although Amazon’s online ad business represents a fraction of overall sales, it has emerged in recent years to become the third-biggest platform in the global digital advertising market, behind only Alphabet and Meta.

Online advertising is a particular area of focus for investors due to economic uncertainty and increasing tensions between the U.S. and China over trade. While President Donald Trump’s China tariffs will likely affect Amazon’s core retail business, the company’s online ad unit could also feel some pain.

So far, tech companies with online ad businesses have reported solid first-quarter earnings, but warned of potentially tougher times later in the year.

Meta reported stronger-than-expected first-quarter earnings this week, but said ad sales in the Asia-Pacific region came in at $8.22 billion for the quarter, trailing analysts’ estimates of $8.42 billion.

The company’s finance chief Susan Li said during an earnings call that “Asia-based e-commerce exporters” have slowed their online ad spending likely due to the de minimis trade loophole ending this Friday.

When Alphabet reported first-quarter earnings last Thursday, it revealed that ad sales grew 8.5% year over year to $66.89 billion and YouTube ad revenue increased 10% to $8.93 billion. But Alphabet executives told analysts that it expects headwinds to its Asia-Pacific-focused advertising business.

Snap on Tuesday said it had “experienced headwinds to start the current quarter,” which resulted in the company saying it would not provide guidance.

Last week, Microsoft reported its latest quarterly earnings and said search and news advertising sales, minus payments to its affiliates, grew 15% year over year to $449 million.

Reddit also reported first-quarter earnings on Thursday that beat on sales and guidance. The company’s first-quarter sales soared 61% year over year to $392 million.

Although Reddit’s second-quarter guidance topped analysts’ projections, CEO Steve Huffman said there is some economic shakiness.

“Ever-shifting macro environments like these create both challenges and opportunities,” Huffman wrote in a letter to shareholders. “We’ve grown through challenging times before — people need connection and information just as much in uncertain times.”

Pinterest reports earnings on May 8.

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Meta rallies on Q1 earnings

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Apple has managed tariffs so far, but Cook says it’s tough to predict beyond June

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Apple has managed tariffs so far, but Cook says it's tough to predict beyond June

Apple CEO Tim Cook, after nearly a month of anticipation from investors, on Thursday finally revealed how Apple was navigating the Trump administration’s tariffs.

The company only saw a “limited impact” on tariffs between January and the end of March, Cook told investors on an earnings call for the company’s second quarter results.

For the current quarter which ends in June, Apple is predicting about $900 million in additional costs for those tariffs — assuming nothing changes, Cook said. That surprised analysts who said on the call that they expected the costs to be higher.

The vast majority of Apple’s products are “currently not subject” to Trump’s reciprocal tariffs, Cook said. But beyond June, he didn’t say much.

“I don’t want to predict the future because I’m not sure what will happen with tariffs,” said Cook, adding that “it’s very difficult to predict beyond beyond June.”

Apple doesn’t usually give a lot of details or guidance beyond the current quarter, but investors didn’t like Thursday’s lack of clarity. Apple shares fell as much as 4% in extended trading on Thursday despite the company reporting results that beat Wall Street expectations for revenue and showed strong sales growth for iPads and Mac computers.

“As we look ahead, we remain confident,” Cook said.

Apple’s uncertainty highlights how even a company with a reputation for world-class operations can get whacked by the unpredictability of the Trump administration’s shifting tariff rates and dates.

Cook, who built his reputation in Silicon Valley as Apple’s operations guru, discussed how the company has dealt with the tariffs to minimize their impact so far on Thursday. He praised his old division on a call with analysts.

“‘l’ll just say that the operational team has done an incredible job around optimizing the the supply chain and the inventory,” he said.

Apple is currently sourcing American-bound products from India and Vietnam, Cook said. Those countries currently have 10% tariffs on them, and the company is sourcing Apple computers for rest of the world from China, which the Trump administration has hit with a 145% tariff rate.

Cook also said that Apple had built up inventory ahead of the tariffs, which would be reported as manufacturing purchase obligations in the company’s filings with the Securities and Exchange Commission. Cook said there was no “obvious evidence” that consumers were buying more Apple products ahead of tariffs.

“We do expect the majority of iPhones sold in the U.S. will have India as their country of origin,” Cook said. “Vietnam will be the country of origin for almost all iPad, Mac, Apple Watch and AirPods products sold in the U.S.”

Apple will still pay higher 145% tariffs on some Chinese imports for AppleCare, its extended warranty program, and accessories, Cook said.

One issue for forecasting tariffs going forward is that both Vietnam and India are in line to get hit with hefty tariffs on imported goods as soon as July.

Trump previously targeted both countries under his “reciprocal tariffs” on April 2, but a week later, he paused the tariffs for 90 days. Apple expanded its supply chain to those countries in recent years as a hedge for its business, but the Vietnam and India strategy won’t work if Trump’s tariffs ultimately take effect.

Cook also mentioned the possibility that technology products such as semiconductors might receive additional tariffs under a process called a Section 232 Investigation.

Apple is not the only big tech company to get rattled by the Trump administration’s tariffs.

Amazon finance chief Brian Olsavsky said Thursday that Amazon would offer a wider range of guidance because of tariff uncertainty, and he also alluded to the possibility of weakening consumer demand. Microsoft raised Xbox prices on Thursday, despite tariffs coming up just once on the company’s Wednesday earnings call.

Apple didn’t offer guidance for its profitable Services division on Thursday, but offered the same kind of top-line forecast that it has in previous quarters. Apple expects overall revenue to grow “low to mid-single digits” on an annual basis during the current quarter. Apple reported $85.78 billion in sales during the June quarter last year.

And at least during that quarter, Apple investors will know what to expect.

WATCH: Deepwater’s Gene Munster digs into Apple post-earnings

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Nvidia CEO Jensen Huang gets first salary raise in a decade

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Nvidia CEO Jensen Huang gets first salary raise in a decade

Nvidia’s CEO Jensen Huang delivers his keystone speech ahead of Computex 2024 in Taipei on June 2, 2024. 

Sam Yeh | AFP | Getty Images

Nvidia CEO Jensen Huang has made tens of billions of dollars in recent years from his stake in the chipmaker, but he’s getting his first salary increase in a decade.

Huang’s base salary rose to $1.5 million, a 49% increase from 2024, according to a proxy filing with the SEC on Thursday. His variable cash also went up by $1 million, or 50%, from the 2024 fiscal year. Stock awards grew to $38.8 million, bringing total pay to $49.9 million.

The compensation committee “believed this was appropriate in consideration of internal pay equity with the base salaries” of other top executives, the filing said, and “it represented Mr. Huang’s first base salary increase in 10 years.”

Nvidia is in the midst of a boom that’s turned it into one of the most valuable companies in the world, thanks to its graphics processing units (GPUs) that power the most powerful artificial intelligence models and workloads. Revenue in the 2025 fiscal year jumped 114% to $130.5 billion, the company reported in February.

The company’s stock price increased more than ninefold between the end of 2022 and the end of last year. Huang’s roughly 3.5% stake is currently worth about $94 billion.

Huang’s 2025 pay also included $3.5 million in residential security and consultation fees and driver services, the company said in the filing. In the previous year, residential security and consultation fees for Huang totaled $2.2 million. 

Google in a recent filing said it paid $8.27 million for CEO Sundar Pichai’s personal security and travel, representing a 22% increase from the year prior.

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