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Apple’s new Vision Pro virtual reality headset is displayed during Apple’s Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California, on June 5, 2023.

Josh Edelson | AFP | Getty Images

It’s been nearly a decade since Apple revealed its last major product, the Apple Watch.

Now the company has a completely different kind of wearable, the mixed-reality headset called the Vision Pro, which the company revealed at its annual Worldwide Developers Conference on Monday.

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I got to take one for a test drive.

Apple gave some WWDC attendees a controlled demo of Vision Pro, walking us through how to manipulate apps and other content in 3-D space and to train the internal cameras to track our eyes. Many features weren’t available for to try, like Siri voice controls and the camera that will let you capture 3-D images and videos. The Vision Pro won’t go on sale until early in 2024, Apple says, so it likely has a few more kinks to work out before the company lets the public try it all.

Still, my demo gave me a taste of where Apple fits in the burgeoning headset space.

But first we had to deal with my glasses. The Vision Pro isn’t large enough to fit glasses if you wear them. The solution: A system of snap-in prescription lenses. An Apple representative took my glasses and placed them on a machine that could read what my prescription is. By the time I got to the demo room, a customized set of lenses were waiting for me inside the Vision Pro. (You don’t need to worry about this if you wear contacts.)

Then it was time to jump in.

The headset was comfortable, with a cushy fabric lining around the face and headband keeping it strapped my head. But, like every other headset I’ve tested, it started to feel a bit heavy and uncomfortable by the end of my 30-minute demo.

Apple’s new Vision Pro virtual reality headset is displayed during Apple’s Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California, on June 5, 2023.

Josh Edelson | AFP | Getty Images

When I first switched the device on, the external cameras fed the outside world to the sharp displays on the inside. It was crystal clear — almost shockingly so. While Meta‘s most advanced headset, the Quest Pro, feeds you blurry, pixelated images of the outside world, Apple Vision feels like you’re looking through glass, not at a screen.

Then it was time to dive into what the Apple Vision can do. Pressing the dial on the top right of the device, which Apple calls a Digital Crown like the one on the Apple Watch, brings up a menu of app icons. It’s sort of like pressing the home button on an old iPhone. All the standard Apple apps you’d expect to see were there: Photos, iMessage, Apple TV, Safari and so on, floating in the air in front of me.

Apple Vision Pro

Source: Apple

To select an app (or anything else you want to “click”), you look at what you want and then make a pinching gesture with your thumb and index finger to select it. Cameras on the inside of Apple Vision track your eyes and recognize what you’re looking at. The external cameras track your hand movements. Meta’s headset has a similar feature, but it doesn’t work nearly as well as it does on Apple Vision, if it works at all. (Meta ships its headset with a wireless controller for better control.)

Opening an app brings up a window floating in space in front of you, and you can surround yourself with apps if you’d like, almost like working on multiple screens on a desktop computer. The apps look just as crisp as an app on an iPhone or MacBook. That’s significant — until now, I’ve never used a headset with visuals that clear.

I went through several demos like browsing through a library of images in photos, including panoramic photos that made it feel like I was inside the scene. Apple TV is another key app — you can place a virtual movie screen anywhere in the room. I watched a 3-D clip of the latest “Avatar” movie, and it was just as clear as watching on my 4K TV at home.

Apple Vision Pro

Source: Apple

You can also rotate the Digital Crown clockwise to bring the headset into full virtual reality and place yourself in an immersive environment, like a starry night in the wilderness. I especially liked that for watching a movie — it felt like I was sitting in my own personalized IMAX theater.

But VR doesn’t take you fully out of the real world. If someone is in the room with you and you look at them for a few seconds, the headset slowly fades them into view within your immersive environment.

The other demo worth mentioning: FaceTime.

An Apple employee wearing her own Vision Pro in a separate room gave me a call and she popped up in a window hovering in front of me. But it wasn’t her actual face — it was a realistic avatar Apple calls a “persona.” Apple’s demo didn’t let me scan my face with Vision Pro to make my own persona, but the one belonging to the woman I was talking to looked realistic enough that it tricked me into thinking it was a regular video chat at first. It’s a far cry from Mark Zuckerberg’s cartoonish “metaverse selfie” that went viral last year.

Even though most of the focus with Apple Vision is on the visuals, I was equally as impressed by the audio. The Vision Pro has a pair of speakers that sit near your temples and provide a surround sound effect. If you’ve ever used the spatial audio feature with AirPods, you’re already familiar with the concept. But it’s much more pronounced in AR and VR, and it gave me a better sense of presence and immersion than the visuals alone. And even though the sound wasn’t pumping directly into my ears, other people in the room couldn’t hear it. (You can still pair AirPods with the Vision Pro, of course.)

Finally, there’s the price. The crowd at WWDC Tuesday — which was packed with some of Apple’s biggest fans — audibly groaned when the $3,500 price tag popped up on screen. But as someone who has tried just about every mainstream headset to date so far, I can tell you Vision Pro feels like a $3,500 machine. It’s that much more advanced than its next closest competitor, Meta’s Quest Pro.

That’s the state of this technology today: A mediocre-to-bad experience for several hundred dollars, or a premium and visually satisfying experience for thousands.

That alone should tell you the Vision Pro and other devices like it have a long way to go to move beyond a niche product.

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Amazon CEO Jassy says AI will lead to ‘fewer people doing some of the jobs’ that get automated

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Amazon CEO Jassy says AI will lead to 'fewer people doing some of the jobs' that get automated

AI will change the workforce, says Amazon CEO Andy Jassy

Amazon CEO Andy Jassy said the rapid rollout of generative artificial intelligence means the company will one day require fewer employees to do some of the work that computers can handle.

“Like with every technical transformation, there will be fewer people doing some of the jobs that the technology actually starts to automate,” Jassy told CNBC’s Jim Cramer in an interview on Monday. “But there’s going to be other jobs.”

Even as AI eliminates the need for some roles, Amazon will continue to hire more employees in AI, robotics and elsewhere, Jassy said.

Earlier this month, Jassy admitted that he expects the company’s workforce to decline in the next few years as Amazon embraces generative AI and AI-powered software agents. He told staffers in a memo that it will be “hard to know exactly where this nets out over time” but that the corporate workforce will shrink as Amazon wrings more efficiencies out of the technology.

It’s a message that’s making its way across the tech sector. Salesforce CEO Marc Benioff last week claimed AI is doing 30% to 50% of the work at his software vendor. Other companies such as Shopify and Microsoft have urged employees to adopt the technology in their daily work. The CEO of Klarna said in May that the online lender has managed to shrink its headcount by about 40%, in part due to investments in AI and natural attrition in its workforce.

Jassy said on Monday that AI will free employees from “rote work” and “make all our jobs more interesting,” while enabling staffers to invent better services more quickly than before.

Amazon and other tech companies have also been shrinking their workforces through rolling layoffs over the past several years. Amazon has cut more than 27,000 jobs since the start of 2022, and it’s announced smaller, more targeted layoffs in its retail and devices units in recent months.

Amazon shares are flat so far this year, underperforming the Nasdaq, which has gained 5.5%. The stock is about 10% below its record reached in February, while fellow megacaps Meta, Microsoft and Nvidia are all trading at or very near record highs.

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Stablecoin issuer Circle applies for a national bank charter

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Stablecoin issuer Circle applies for a national bank charter

Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group’s IPO, in New York City, U.S., June 5, 2025.

Brendan McDermid | Reuters

Stablecoin issuer Circle Internet Group has applied for a national trust bank charter, moving forward on its mission to bring stablecoins into the traditional financial world after the firm’s big market debut this month, CNBC confirmed.

Shares rose 1% after hours.

If the Office of the Comptroller of the Currency grants the bank charter, Circle will establish the First National Digital Currency Bank, N.A. Under the charter, Circle, which issues the USDC stablecoin, will also be able to offer custody services in the future to institutional clients for assets, which could include representations of stocks and bonds on a blockchain network.

Reuters first reported on Circle’s bank charter application.

There are no plans to change the management of Circle’s USDC reserves, which are currently held with other major banks.

Anchorage Digital is the only other crypto company to obtain such a license.

Circle’s move comes after a wildly successful IPO and debut trading month on the public markets. Shares of the company are up 484% in June. The company is also benefiting from a wave of optimism after the Senate’s passage of the GENIUS Act, which would give the U.S. a regulatory framework for stablecoins.

Having a federally regulated trust charter would also help Circle meet requirements under the GENIUS Act.

“Establishing a national digital currency trust bank of this kind marks a significant milestone in our goal to build an internet financial system that is transparent, efficient and accessible,” Circle CEO Jeremy Allaire said in a statement shared with CNBC. “By applying for a national trust charter, Circle is taking proactive steps to further strengthen our USDC infrastructure.”

“Further, we will align with emerging U.S. regulation for the issuance and operation of dollar-denominated payment stablecoins, which we believe can enhance the reach and resilience of the U.S. dollar, and support the development of crucial, market neutral infrastructure for the world’s leading institutions to build on,” he said.

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Meta shares hit all-time high as Mark Zuckerberg goes on AI hiring blitz

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Meta shares hit all-time high as Mark Zuckerberg goes on AI hiring blitz

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., during the Meta Connect event on Wednesday, Sept. 25, 2024.

Bloomberg | Bloomberg | Getty Images


Meta shares hit a record high on Monday, underscoring investor interest in the company’s new AI superintelligence group.

The company’s shares reached $747.90 during midday trading, topping Meta’s previous stock market record in February when it began laying off the 5% of its workforce that it deemed “low performers.”

Meta joins Microsoft and Nvidia among tech megacaps that have reached new highs of late, all closing at records Monday. Apple, Amazon, Alphabet and Tesla remain below their all-time highs reached late last year or early this year.

Meta CEO Mark Zuckerberg has been on an AI hiring blitz amid fierce competition with rivals such as OpenAI and Google parent Alphabet. Earlier in June, Meta said it would hire Scale AI CEO Alexandr Wang and some of his colleagues as part of a $14.3 billion investment into the executive’s data labeling and annotation startup.

The social media company also hired Nat Friedman and his business partner, Daniel Gross, the chief of Safe Superintelligence, an AI startup with a valuation of $32 billion, CNBC reported on June 19. Meta’s attempts to buy Safe Superintelligence were rebuffed by the startup’s founder and AI expert Ilya Sutskever, the report noted.

Wang and Friedman are the leaders of Meta’s new Superintelligence Labs, tasked with overseeing the company’s artificial intelligence foundation models, projects and research, a person familiar with the matter told CNBC. The term superintelligence refers to technology that exceeds human capability.

Bloomberg News first reported about the new superintelligence unit.

Meta has also snatched AI researchers from OpenAI. Sam Altman, OpenAI’s CEO, said during a podcast that Meta was offering signing bonuses as high as $100 million.

Andrew Bosworth, Meta’s technology chief, spoke about the social media company’s AI hiring spree during a June 20 interview with CNBC’s “Closing Bell Overtime,” saying that the talent market is “really incredible and kind of unprecedented in my 20-year career as a technology executive.”

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