Wed. 04/02 – The Nintendo Switch 2

Apr 2, 2025 16m

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All the details from the big Nintendo Switch 2 reveal this morning. Wikimedia says AI bots are increasing its costs by 50%. North Korean IT workers allegedy continue to go after remote IT jobs worldwide. Meta is reading its more ambitious, more expensive smartglasses for maybe later this year. And maybe the CoreWeave IPO wasn’t a bust?

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Amazon Said to Make a Bid to Buy TikTok in the U.S. (NYTimes)
Everything announced at Nintendo’s Switch 2 Direct (Polygon)
AI crawlers cause Wikimedia Commons bandwidth demands to surge 50% (TechCrunch)
North Korean IT worker army expands operations in Europe (BleepingComputer)
How Meta’s Upcoming $1,000+ Smart Glasses With a Screen Will Work (Bloomberg)
Stablecoin issuer Circle files for IPO as public markets open to crypto (CNBC)
CoreWeave shares rip nearly 42% higher, rising above IPO price (CNBC)

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AI-Generated Summary

Amazon's Bid for TikTok

In a developing story, Amazon has put forth a bid to acquire TikTok, which has raised eyebrows among various stakeholders who are taking the offer with skepticism. With increasing concerns surrounding TikTok's Chinese ownership and a looming April 5th deadline for a potential sale enforced by U.S. lawmakers, Amazon sees this acquisition as a strategic move to expand its reach into social networking and commerce. The potential deal may involve new U.S. investors, but the Chinese government’s stance on TikTok remains a significant hurdle.

Nintendo Switch 2 Reveal

Nintendo's highly anticipated reveal of the Switch 2 generated excitement, with the YouTube stream peaking at 1.4 million viewers before crashing. Key features include a 7.2-inch 4K HDR display, new Joy-Con controllers with innovative features, and backward compatibility with original Switch games. However, details like pricing and pre-order dates were left unannounced, although some late-breaking reports suggest a price point of $450 and a June 5th launch.

Wikimedia and AI Bot Challenges

Wikimedia Foundation reports a staggering 50% increase in bandwidth usage due to AI crawlers, raising concerns over operational costs and site reliability. Most of this bot traffic comes from a small percentage of resource-intensive content being accessed, leading to higher expenses for the Foundation. Developers are recognizing the threat that these bots pose to open-source projects, and companies like Cloudflare are actively working on solutions to mitigate the impact.

North Korean IT Workers and Cybersecurity Threats

Google researchers uncover that North Korean IT workers are deceitfully securing remote jobs in Europe using false identities to generate revenue for their regime. This trend of fraudulent employment, particularly in sectors like IT and finance, poses significant security threats as these workers have been correlated with data theft and extortion attacks on companies. Recent indictments highlight the ongoing U.S. concerns surrounding this issue.

Meta's Upcoming Smart Glasses

Meta is ramping up production on its more advanced smart glasses, expected to arrive by late 2025 with a price tag between $1,000 to $1,400. These glasses will include a display that shows data in the user's field of view, and Meta is working on future versions that will enhance functionality further. The rise of smart glasses indicates a shift in how technology integrates with daily life, and Meta aims to take a lead in this space.

Circle's IPO Plans

Circle, a company known for issuing the USDC stablecoin, has filed for a U.S. IPO, hoping for a valuation between $4 to $5 billion. This move signifies Circle's ongoing efforts to establish itself within the financial industry, following a previous attempt that fell through amid regulatory scrutiny. A successful IPO would position Circle as a major player in the cryptocurrency arena.

CoreWeave Stock Recovery

After initial struggles post-IPO, CoreWeave stock saw a significant bounce, closing at 41.77% higher in its third trading day. Market speculation and economic conditions have led to fluctuating prices, but CoreWeave's recovery points to investor interest in AI cloud services as it focuses on renting access to high-demand NVIDIA graphics processing units.