The California Billionaire Tax Act, colloquially known as the billionaire tax, would levy a one-time 5% tax on any California resident worth more than $1bn. The proposal is backed by the Service Employees International Union-United Healthcare Workers West as a means of funding California’s strained healthcare and education programs. The proposal has become one of the state’s biggest political flashpoints as it gained momentum throughout the year, with prominent billionaires, such as the Google co-founder Larry Page, making moves to cut ties with the state and Newsom vowing to block it from going to a vote. Although it has gained enough signatures for the ballot, the groups backing the measure have until June 25 to decide whether to move forward or potentially strike a deal with the state.

While unions backing the group have framed the proposal as a way of getting the ultra-rich to pay their fair share, many of the state’s tech elites have condemned the tax and spent millions attempting to crush it. The Google co-founder Sergey Brin has spent $82m alone on efforts to fight the tax, while joining other Silicon Valley billionaires in declaring he will leave California if it goes through. The Palantir co-founder Peter Thiel, crypto billionaire Chris Larsen and Ring founder James Siminoff are among the other tech moguls who have made huge political donations to groups opposing the tax. California has the most billionaires out of any state, many of whom have increased their wealth in recent years amid the AI boom.

It’s not clear how fast the process is with the prototype unit, but Midjourney said its goal is for the whole thing to take around a minute. “We think it’s completely possible that with enough early imaging in the future, the world could avoid 30% of all deaths and 50% of all healthcare costs,” the company added.

According to a “technical” video included in the announcement, there’s a ring of 40 scanners included in the prototype unit the company has built. That ring of 40 elements contains 358,000 ultrasonic elements made up of tiny transducers that create ultrasound waves in water while listening for how they change when they slap the body of whoever is in Midjourney’s dunk tank up to a thousand times a second.

[…] Midjourney said that it’s planning to open its first ultrasound scanner spa at the end of 2027, but it has another hurdle to jump: FDA approval. Beyond improving its tech so that the second-generation scanner is ready for its 2027 spa date, “regulation is the next limit,” the company said. “Normally, for every diagnostic medical capability you need FDA approval,” Midjourney explained. “We’re starting by just giving you detailed body composition maps — and we’ll be submitting regular test results to the FDA for increased capabilities.”

Midjourney also fails to mention how it will store and secure those scans, whether it will use said scans to train its body composition-detection algorithms, and how it’s ensuring those algorithms get things right that it usually take a human a few years of education and training to learn.

As artificial intelligence companies reshape the economy and race toward trillion-dollar valuations, Sen. Bernie Sanders is proposing a sweeping transfer of wealth and power from the industry to the American public. The legislation, shown first to The Associated Press, would create a sovereign wealth fund overseen by an independent commission and financed through a one-time 50% tax on the stock of the largest AI companies. Sanders estimates that the tax would create a nearly $7 trillion fund that would generate hundreds of billions of dollars annually in direct payments to Americans and programs such as health care, education and housing.

[…] The 50% tax would apply to AI companies that reach $200 million in annual AI sales. Any new AI company that reaches that benchmark would also be subject to the tax. It would create a sovereign wealth fund — similar to those used by countries around the world and some U.S. states — that Sanders estimates would be worth around $7 trillion. Unlike a traditional tax, the proposal would require companies to transfer stock rather than cash, effectively making the American public a major shareholder in the country’s largest AI firms.

A seven-person independent commission — nominated by the president and confirmed by the Senate — would manage the fund and use its voting shares “to block decisions that hurt the American people and to push for policies that help them,” the bill summary says. Sanders proposes that a 5% annual dividend from the fund would provide direct payments of more than $1,000 to every American. If companies grow, the gains would be used for public goods such as education, housing and health care. Sanders argues taxpayers would not bear the losses if AI company valuations decline. “We’re not going to lose any money, even if there is a bust in the bubble,” Sanders said. The commission would be directed to “to block decisions that hurt the American people and to push for policies that help them,” according to the summary.

Alternative app marketplaces will have to be authorized by Apple and will need to meet ongoing requirements. For apps that are still distributed through the App Store, developers will be able to include an alternative payment processing method in their app and/or link users to a website to complete a transaction. These changes are available on iOS 26.5 and later, and they are the result of regulatory action from Brazil’s competition regulator. Apple has added a new page on its website with additional details for developers in Brazil.

Apple said these changes introduce privacy and security risks for users, including children. The company has introduced safeguards to mitigate these risks, including a notarization process for iOS apps, an authorization process for app marketplaces, and limitations on external links and alternative payments for users under the age of 18. Apple has already allowed alternative app stores and/or third-party payment systems on iOS in the EU, Japan, and South Korea, and it will likely be forced to do so in the UK and Australia too, due to similar regulations in those countries.

Pixel owners are the clear winners, since everything here reaches Pixel first and a lot of it goes back to the Pixel 6. Fold owners get the most toys, with the Bubble Bar and foldable gaming mode built for the big screen. Watch wearers get the quietly important upgrade. Better battery and Live Updates make an everyday wearable easier to rely on, especially if you keep it on overnight.

According to O’Leary, Config Connector doesn’t perform an authorization check, and this allows any Config Connector service account with org-level permissions to bypass Identity and Access Management (IAM) authorization and gain the highest level of control (roles/owner) to an entire GCP Organization — the root node of all of a company’s resources within Google Cloud. On March 27, a Google security engineer accepted O’Leary’s report and told him: “Nice catch!” The employee said that they filed a bug based on O’Leary’s report with the relevant product team and assured him the Chocolate Factory’s security squad would work with relevant Google Cloud people to fix the flaw. “We’ll work with the product team to ensure this issue is address. We’ll let you know when the issue was fixed,” the engineer said. “In the meantime, review the payment option selected in your bughunters.google.com profile.”

Google assigned the bug P1 priority and S1 severity, signifying a flaw worthy of urgent repair because it affects a large percentage of users and can disrupt core organizational functions. “I figured that was the end of that,” O’Leary said in a phone interview with The Register. Eleven days later, on April 7, he received a new message from a Google Security Bot reversing the earlier decision. The Reg viewed the email, and O’Leary included a screenshot in his Thursday writeup. The message said that the Cloud Vulnerability Reward Program panel decided that the “security impact of this issue does not meet the criteria to qualify for a reward.”

After reviewing the bug report, Google determined the software “is working as intended,” the message continued. It also noted that the program’s decision not to pay a bounty “does not mean that the product team won’t fix the issue.” Nearly three months later, the case remains P1/S1 with the status “in progress (accepted).” Google hasn’t assigned a CVE or issued a fix. O’Leary didn’t receive any reward for his research. […] “This is a pattern,” O’Leary told [The Register]. “This is just how these trillion-dollar companies deal with people like me. In my day job, we use GKE, and it’s incredibly frustrating on my end, when I find a critical vulnerability in the system that’s being widely used, and I can’t even get the vendor to patch their own stuff.”

Apple is raising its prices to offset the high cost of memory and storage, CEO Tim Cook told The Wall Street Journal. Apple is no longer able to absorb the increased prices and will need to pass some of the cost on to consumers. “Unfortunately, price increases are unavoidable,” said Cook. “We’re doing our best to mitigate the huge increases that are being passed to us, and we’ve been trying to shield our customers from the increases, but the situation has become unsustainable.”

Growing demand for memory and storage chips from AI companies has led to chip shortages and higher costs. The Wall Street Journal suggests Apple will need to increase device costs “substantially” to maintain its current profit margins given the cost of memory chips and SSDs. Research firm TechInsights claims Apple will need to make the iPhone 18 Pro around $270 more expensive to keep its existing profit margin.

Apple is struggling more with memory chips, but storage chips are also an issue. “There’s less supply at a time when consumers want devices and the memory guys are passing along huge price increases,” Cook told The Wall Street Journal. Cook said Apple will use its cash to increase memory supply, but he did not give details on what that means. Apple does not plan to create its own memory and storage factories. “We can’t do everything,” Cook said. “We know what we’re good at.”

China dominates the consumer drone market, so it is perhaps surprising that it is no longer possible to fly or even purchase a drone in Beijing. The new law that passed last month makes it illegal to buy, rent, or fly a drone without prior approval from the authorities. Users must also complete an online training session and pass a test on drone regulations. Under the new rules, drone users are also not allowed to repair or replace their drones in Beijing. Not only that, but a drone in a repair shop must be picked up in-person, rather than sent back by delivery.

The BBC reports that drones must now be registered before being brought into and out of the Chinese capital. “I have to apply for permission for each flight, which is very inconvenient,” drone enthusiast Steven Wang tells CNN. “And starting this year, the wait time is getting longer, and the reasons for rejection are becoming more vague.” Despite China being the birthplace of the consumer drone industry, it is increasingly difficult for hobbyists to fly there. Beijing authorities say that the rules are made to “strengthen the management of unmanned aerial vehicles” and “safeguard the security of the capital.”

For years, the Chinese auto industry has employed a hostile price war to kneecap global competitors. Armed with massive state subsidies, cheap raw materials, and an aggressive “scale-first” business model, Chinese automakers flooded the market with electric vehicles priced so low that legacy manufacturers stood no chance to compete. How did they do it? Simple, they couldn’t. They did it anyway. Reports from CarNewsChina show that Chinese automakers have been selling vehicles at a loss until a recent law passed by the Chinese government banned below-cost sales of new vehicles. During the ongoing sales slump in China caused by rolled-back subsidies and direct government intervention banning below-cost sales, the truth behind the rapid expansion of the Chinese auto industry has been exposed.

Tesco, a retail conglomerate headquartered in the United Kingdom, is moving 40,000 server workloads off of VMware amid “abusive conduct” from Broadcom, recent legal filings claim. Tesco filed a lawsuit in the UK’s High Court against Broadcom alleging breach of contract last year. According to a September report from The Register, the lawsuit claimed that in January 2021, Tesco bought perpetual licenses for VMware’s vSphere Foundation and Cloud Foundation, a subscription to VMware Tanzu, plus support services until 2026, with the option to extend support for four additional years.

But when Broadcom took over VMware in November 2023, it would not honor the deal and instead tried to get Tesco to pay “excessive and inflated prices for virtualization software for which Tesco has already paid” and would not allow it to buy support services for its perpetually licensed software without buying “duplicative subscription-based licenses for those same Software products,” the initial complaint read, The Register reported at the time. Tesco, which reported 73.7 billion pounds (about $98.7 billion) in revenue in its fiscal year 2026, has since started migrating away from VMware and Broadcom’s mainframe products, according to late-May court filings reported on by The Register today.

In January, Broadcom stopped supporting Tesco’s VMware products, Tesco said, and Tesco has been paying for third-party support since. In its initial filing, Tesco also said that Broadcom refused to upgrade software or provide all security updates to customers without subscriptions. One of Tesco’s recent filings, per The Register, reads: “Faced with Broadcom’s abusive conduct, and given the criticality of virtualization and mainframe software and services to its business, Tesco has been forced to incur material costs to procure alternative solutions with reduced functionality, and to migrate to that software in a manner, and on a timeframe, that creates very significant risks to its business.”

If it works “at exceptional pace,” Tesco will be completely off VMware by the end of 2027 at the earliest. However, “the timeframe in which that migration must be undertaken has created and continues to create operational and commercial risk, and at material ongoing cost and disruption to the business,” Tesco reportedly noted. Tesco is also dealing with migration challenges related to data security because its new, unnamed virtualization software is incompatible with the Veeam and Zerto products it uses. Tesco initially requested at least 100 million pounds (about $133.6 million) in damages each from Broadcom, VMware, and reseller Computacenter, plus interest. In its recent filings, Tesco said it turned down at least four offers from Broadcom to continue using VMware and Broadcom’s mainframe tech. […] The case is expected to go to court between November 1, 2027, and February 25, 2028, The Register reported. Afterward, it could go to trial.

Microsoft on Wednesday published an advisory acknowledging the public disclosure of a vulnerability in Defender that could lead to privilege escalation. The security defect, tracked as CVE-2026-50656 (CVSS score of 7.8), was dropped last week by security researcher Nightmare Eclipse (also known as Chaotic Eclipse). “We are working to provide a high-quality security update that addresses this vulnerability. We will provide information in this CVE when the update is available,” Microsoft adds.

RoguePlanet, Nightmare Eclipse explained last week, targets a race condition in Microsoft Defender and allows attackers to gain System privileges. The researcher released a proof-of-concept (PoC) exploit that demonstrates local privilege escalation (LPE) on Windows 11 and Windows 10 systems with the June 2026 patches installed. […] On Wednesday, Nightmare Eclipse pointed out that the PoC works regardless of whether Defender’s real-time protection is enabled or disabled. It may even work in passive mode, the researcher said.

The firm found that the primary smartphone market (meaning new devices) contracted 4.4 percent in the first quarter of this year, despite sales channels front-loading (meaning stockpiling) product inventory, as device prices begin to rise sharply. As CCS notes, this casts an ominous shadow on the outlook for the rest of the year, and it seems things have worsened since The Register first started reporting on the smartphone memory woes.

Back in January, the forecast was for handset price rises of 6-8 percent, while the most pessimistic outlook was that the global market might contract as much as 5.2 percent. By February, analysts were expecting to see a decline in shipments of around 8 percent across the global market, and for prices to increase by about 14 percent.

The root cause of all this is the AI craze, which has seen huge demand for high-performance GPU-filled servers to process it all. Chipmakers have moved to capitalize on this by prioritizing production of high-margin memory components for those servers, rather than making the plain old DRAM and NAND needed for PCs and phones.

Through its used vehicles sales, Carvana has become the most valuable auto retailer in the U.S. with a more than $70 billion market cap. Carvana’s target with the new vehicle business is to grow its market share and customer base as well as assist used vehicle sales through trade-ins and other means, according to Taira. If the company is successful, the strategy could cause a ripple effect across the U.S. franchised dealership model, which the National Automobile Dealers Association reports includes 16,990 retailers that topped $1.3 trillion in sales last year.

[…] Carvana is using a location in Dallas as a test center for its foray into new vehicle sales. The facility looks like a traditional Stellantis dealership from the outside, but the consumer process for purchasing a vehicle and the responsibilities of its employees are unprecedented. Couches and chairs replace cubicles and sales offices. There are no finance and insurance departments, and instead of an army of commission-based employees, the facility has associates that are paid hourly to assist customers — if they want the help.

The experience is meant to be as self-guided as a customer wants. By scanning QR codes located on 10-foot-by-10-foot screens inside the building or on vehicles and displays outside, shoppers can customize a vehicle, learn about a product’s features and conduct test drives before deciding whether to purchase anything. If they do decide to buy something, it’s online and not originated from a sales person, the company said.

The “playground” has roughly 50 vehicles divided by brand, with each having a theme. Jeep has an off-road display. Dodge has race tracks, including a Carvana-themed Charger pace car and part of a traditional track fence barrier. Chrysler minivans, meanwhile, have a soccer net and Ram’s area is truck-centric. Carvana is not committing to expanding the exact experience to its other franchised dealer locations, but Taira told CNBC that the overall process of online sales, vehicle testing and service are expected to be consistent throughout the locations.

Google, Microsoft, OpenAI, Arm, Mastercard, Siemens, and other companies have joined the newly launched Appia Foundation under the Linux Foundation. The project aims to create common specifications and assessment frameworks that organizations can use to demonstrate AI systems meet emerging safety, trust, and compliance requirements. According to the Linux Foundation, the framework is designed to allow conformity evidence to be reused across the AI supply chain, potentially reducing duplicate assessments and compliance costs. The announcement comes as governments around the world move toward enforcing AI regulations and organizations face increasing pressure to prove AI systems are trustworthy.