Unity game developer said that John Riccitiello will step down as president and CEO of the company after nine years in leadership, effective immediately. James Whitehurst, who previously served as senior advisor and president at IBM, will fill in as interim CEO. The leadership transition comes during a turbulent time for the company.

Just a month ago, Unity rolled out some significant concessions to its developer pricing model after widespread backlash over its plan to charge developers for game installations. The move will directly impact developers, publishers and distributors. The upheaval of Unity’s business model came at the same time as a series of massive layoffs. In 2023, the company reduced its headcount three times in an attempt to cut costs.

Despite the recent controversy, Unity said it expects third-quarter revenue to fall somewhere between $540 million to $550 million, which is up 67 to 70 percent from last year.

ChatGPT might be powered by homegrown chips in the future, if OpenAI does indeed decide to make its own. According to Reuters, the company is currently exploring the possibility of making its own artificial intelligence chips and has even evaluated a potential acquisition. OpenAI CEO Sam Altman previously blamed GPU shortages for users' concerns regarding the company API's speed and reliability, so he reportedly made acquiring more AI chips a priority. 

In addition to being able to address GPU shortages, OpenAI using its own chips could make costs associated with running its products more manageable. Based on an analysis by Stacy Rasgon from Bernstein Research, each ChatGPT query costs the company around 4 cents. The service reached 100 million monthly users in its first two months, which translates to millions of queries a day, though it did lose users for the first time in July. Rasgon said that if ChatGPT queries reach a tenth of what Google gets, then it would initially need $48.1 billion worth of GPUs and would spend $16 billion a year on chips going forward. 

At the moment, NVIDIA controls the market for chips meant for AI applications — the Microsoft supercomputer OpenAI used to develop its technology, for instance, uses 10,000 NVIDIA GPUs. That's why other companies — bigger players in the tech industry — have chosen to start developing their own. Microsoft, OpenAI's biggest backer, has been working on an AI chip of its own since 2019, according to The Information. The product is codenamed Athena, and OpenAI has reportedly been testing the technology. 

OpenAI has yet to decide whether to push through with its plans, Reuters says. And even if it does choose to move forward, it could take years before it can start using it own chips to power its products. 

Long gone are the days when you needed to swipe a physical credit card, with your phone typically being all you need to complete in-person transactions. PayPal is finally getting on board with the change, announcing that you can now add it and Venmo's credit and debit cards to your Apple Wallet. As part of their motivation for the expansion, the company cites a 2022 Morning Consult survey that found 42 percent of people in the United States have used a mobile wallet.

PayPal has long offered credit cards, while Venmo launched its first in 2020 (and has made sure you know about it anytime you use the app or the company sends you an email). With this further offering, you can pay for in-person transactions with PayPal or Venmo using Touch or Face ID on your iPhone or Apple Watch, as well as use Apple Pay to complete digital purchases on these devices and your iPad or Mac.

Adding a PayPal or Venmo card to your Apple Wallet is the same process as any other card. Visit your Apple Wallet app, choose the option to add a debit or credit card and then scan in or manually enter its details. You can also immediately add your PayPal credit or debit card to your Apple Wallet through PayPal's site. However, the PayPal Business Debit Card and Venmo's credit and debit cards will be available to add through their respective apps "in the coming months." PayPal previously rolled out tap-to-pay support on iPhones and Androids, but it was through the company's apps. 

At dawn on Wednesday, French antitrust authorities conducted a surprise raid on a company in the country that specializes in graphics cards — and according to The Wall Street Journal and Challenges business magazine, that company was NVIDIA. We reached out to NVIDIA for clarification and a spokesperson declined to comment. Here's what we know for sure:

The French Competition Authority conducted a surprise raid early Wednesday morning on "a company suspected of having implemented anticompetitive practices in the graphics cards sector," according to a brief press release from the regulator. The raid was tied to a larger investigation into the health of the cloud computing market, with a focus on identifying whether new companies were being unfairly squeezed out by larger, existing ones. The results of that investigation were published in June and they centered on three "hyperscalers," Amazon Web Services, Google Cloud and Microsoft Azure. 

The results read, in part, "The likelihood of a new operator being able to gain market share rapidly appears limited, excluding companies who are already powerful in other digital markets." NVIDIA is not mentioned in the original cloud investigation.

NVIDIA has seen significant financial success this year amid the AI boom. NVIDIA's AI chips and data centers are in high demand, and the company crushed its most recent earnings expectations, pulling in $13.51 billion in the second quarter of 2023, compared with $6.7 billion in 2022.

As the French Competition Authority noted, a raid does not mean the targeted company is guilty of anticompetitive practices — but it's a confident step from the regulatory body.

Apple has quietly launched a new iPhone Wallet feature in beta that lets UK users see their current account balance, along with recent deposits and payments, 9to5Mac has reported. It's powered by the UK's Open Banking API, and follows Apple's purchase of Credit Kudos, a company that uses Open Banking to give users a snapshot of their financial health and creditworthiness. 

The new feature, which also shows users their balances after purchasing something with Apple Pay, arrives as part of the iOS 17.1 developer beta. Users must first authorize it through the Wallet app, then authenticate using their bank's app or website. All banking data will be stored strictly on users' devices and not on Apple's servers. Supported banks in the beta launch include Barclays, HSBC, Lloyds, RBS, Monzo and Starling.

The Wallet addition is a rare Apple feature that premieres in a territory outside the US. Apple doesn't even have its Apple Card available in the UK yet, so it's a relatively minor player in the region so far. At the same time, its purchase of Credit Kudos gives it major connections in Open Banking. The latter company's API taps into the UK's open banking platform to analyze bank account data, aiming to help banking providers make faster and better decisions for people seeking loans or other financial services.

Open Banking — which forces the United Kingdom's nine major banks to to release their data in a secure, standardized form — is unique to the region and doesn't exist in the US (though the government is working on it). Europe introduced a similar system called PSD2 back in 2020. The two are similar, so Apple could feasibly bring the same features to Europe, where it effectively dominates smartphone-based payment systems with Apple Wallet. 

Jim Ryan, Sony Interactive Entertainment's (SIE) President and CEO, is stepping down in March 2024. In a post announcing his retirement, the executive said he's been finding it "increasingly difficult" to juggle his home life in the UK and his job that's located in the US. Ryan has been with SIE since 1994, before the first PlayStation was launched worldwide. He helped establish the company's presence in Europe and held several positions before he was eventually named as the CEO of SIE in 2019. 

SIE launched the PlayStation 5 under Ryan's leadership. While the company struggled to produce enough consoles in the height of the pandemic due to component shortages, it was eventually able to increase production and meet demands. In the first quarter of 2023, Sony shipped 3.3 million PS5 units, bringing the total number of consoles sold to 41.7 million. Sony CEO Kenichiro Yoshida praised Ryan for "overseeing the launch of PlayStation 5 in the midst of the global COVID pandemic," saying that the device is now "on track to become SIE’s most successful console yet."

On April 1, 2024, Hiroki Totoki will step in as interim CEO of SIE, taking on the responsibility on top of his roles as the president, COO and CFO of Sony Group Corporation. The company said that he will work with management to "help define the next chapter of PlayStation's future" and to find the next boss for Sony Interactive Entertainment.

All MGM Resorts hotels and casinos are back up and running as normal, nine days after a cyberattack shut down systems across the company, the company said in an X post on Wednesday. MGM Rewards accounts will be updated "at a later date," and some promotional offers could still be unavailable. This is the biggest system wide restoration the company has experienced since websites went offline, slot machines went down and some transactions became cash only on September 11. 

The ALPHV ransomware group took credit for the attack shortly after systems went offline. The group claimed it used social engineering tactics, or gaining trust from employees to get information, to access systems. Once a group gains access, they usually demand a sum of money in exchange for access or information. 

After the MGM attack went public, reports started surfacing that competitor Caesars Entertainment, which also owns casinos across the Las Vegas strip, recently suffered a similar attack. But unlike MGM, Caesars reportedly paid "tens of millions of dollars" to the hackers that threatened to release company data to avoid damage. Another ransomware group, Scattered Spider, took credit for that attack. Scattered Spider also took credit for the MGM attack, but responsibility is notoriously difficult to verify without security researchers because hackers are motivated to claim as much damage as they can. 

The attacks both started through identity management vendor Okta. MGM and Caesars both use the service, and the company confirmed hackers were able to use its tech as an access vector. The full extent of the damage remains unclear. At least three other Okta clients have been hit by cyberattacks, David Bradbury, chief security officer of the company, told Reuters. 

MGM did not respond to a request for comment on any data leak implications possibly stemming from the attack or whether backend systems such as employee accounts are back up and running. 

Microsoft Gaming chief Phil Spencer wanted to acquire Nintendo so bad, he considered it a "career moment." One of the leaked documents from the FTC v. Microsoft case was an email Spencer sent to the company's Chief Marketing Officers Chris Capossela and Takeshi Numoto in 2020. The executive talked about how Nintendo was the prime asset for the tech giant in gaming, which is Microsoft's best bet for consumer relevance. He was confident that if there was an American company capable of acquiring Nintendo, it was Microsoft. However, Nintendo was apparently sitting on a "big pile of cash" that made it unlikely to go looking for buyers. 

Spencer added that Nintendo had a board of directors that had not pushed for increases in market growth in ages. He explained that it might change in the future, though, as one of Microsoft's board of directors — investment company ValueAct Capital — had been "heavily acquiring" Nintendo shares and had been "fully supportive" of an acquisition if the opportunity arose. 

Microsoft has a long history of trying to acquire the Japanese gaming giant. When Bloomberg published an in-depth oral account of how the Xbox came to be for its 20th anniversary in 2021, it was revealed that the company asked Nintendo if it was willing to be acquired — and got laughed out of the room. "They just laughed their asses off," Xbox co-creator Kevin Bachus said. "Like, imagine an hour of somebody just laughing at you. That was kind of how that meeting went." Microsoft also reportedly asked Nintendo to let it take care of hardware so it could focus on games, but it ultimately failed to convince the company to do a merger. 

In Spencer's letter, he said it was "taking a long time for Nintendo to see that their future exists off of their own hardware." And then he ended it with a smiley face that seemed to indicate that he was willing to play the long game, though it's unclear if he still has plans to make another attempt at a merger. Microsoft's legal battle against the Federal Trade Commission will decide the outcome of the company's $69 billion Activision Blizzard acquisition. The company announced the massive purchase in early 2022, but the FTC filed a lawsuit to block the merger, which the agency says can harm competition in the gaming market. 

Panos Panay is leaving Microsoft after 19 years with the company, as confirmed via an official tweet. He’s been operating as the chief product officer with Microsoft, heading up Windows 11 development and the company’s Surface line. Rajesh Jha, Microsoft’s vice president of experience and devices, broke the news in an email to employees, as reported by The Verge.

Panay was hired on by Microsoft back in 2004 as a group program manager, overseeing a number of premium products. After heading the development of the initial Surface line of tablets and hybrid laptops, he was named the company’s chief product officer in 2018. His rise continued in 2021 when he was promoted to executive vice president after a successful Windows 11 launch, eventually becoming involved in a leadership team that directly advised CEO Satya Nadella.

There’s been no actual reason given by either party, but Panay says he has “decided to turn the page and write the next chapter.” The timing here is a bit suspicious, as Microsoft’s conducting a livestream event on Thursday that will almost certainly be dedicated to new Surface products. We reached out to the company for clarification as to why Panay left his position and what that means moving forward. We’ll update this post when we hear more.

As for what’s next, Microsoft has already said that Yusuf Mehdi, Microsoft’s current corporate vice president of modern life, search and devices, will take Panay’s place as the head of the Windows and Surface divisions. The company also still seems committed to two areas of the business that Panay consistently championed: integrating AI into Windows 11 and mixed-reality. Microsoft CEO Satya Nadella said in a statement released to TechCrunch that the company remains “steadfast and convicted in our strategy.” We’ll have to see how this unfolds Thursday during Microsoft’s Surface-centric event.

Embracer's days of buying nearly every game developer and publisher it possibly can seem to be over, with the company now looking to reduce expenses. It recently closed Saints Row studio Volition as part of a restructuring plan that includes layoffs and game cancellations. Embracer may now be set to sell one of its more valuable assets.

The company is considering several options for what to do with Borderlands creator Gearbox, according to Reuters. Some third parties are said to have shown interest in snapping up the developer and publisher, which Embracer bought in February 2021 in a deal that was worth up to $1.4 billion. Embracer is reportedly exploring a sale with the help of Goldman Sachs and Aream, while marketing materials are being made available to potential suitors.

Embracer said in June that it was making sweeping changes in order to reduce its debt by around $605 million to less than approximately $903 million by the end of its financial year. The Swedish company said at the time that a proposed investment worth over $2 billion over six years ultimately fell apart. It was later reported that the Saudi government-funded Savvy Games Group was the partner Embracer tentatively had a deal with.