Consumer Tech News (Jan 19-23): Netflix & Warner Bros. Deal Sparks Trump Investment Criticism, OpenAI Revenue Surges Past $20B & More

Sen. Elizabeth Warren (D-Mass.) criticized President Donald Trump’s involvement in merger decisions after a financial disclosure showed the president bought more than $1 million in investments tied to Netflix Inc. (NASDAQ:NFLX) and Warner Bros. Discovery (NASDAQ:WBD) shortly after the companies announced a major deal.

South Korea plans to negotiate with Washington to protect its memory chip industry after the Trump administration imposed a 25% tariff on advanced AI chips.

Transportation Secretary Sean Duffy has slammed Canadian Prime Minister Mark Carney‘s decision to allow Chinese manufacturers to enter the country’s automotive sector.

Europe’s economic outlook could face renewed pressure if President Donald Trump follows through on his latest tariff threats tied to Greenland, according to Goldman Sachs.

Eric Trump said major U.S. banks are actively resisting cryptocurrency legislation because it threatens what he described as a long-standing monopoly over the financial system.

TikTok has secured its future in the U.S. after its Chinese parent ByteDance finalized a deal creating a majority American-owned joint venture designed to address national security concerns and comply with U.S. law.

U.S. companies, led by Boeing Co. (NYSE:BA), have secured foreign government procurement contracts worth $244 billion in 2025, with the assistance of the U.S. Commerce Department.

Earnings Results

Progress Software Corp. (NASDAQ:PRGS) reported fourth-quarter earnings of $1.51 per share, which beat the Street estimate of $1.31. Quarterly revenue came in at $252.67 million, which just missed the consensus estimate of $252.86 million.

TE Connectivity Plc (NYSE:TEL) reported first-quarter FY26 adjusted earnings of $2.72 per share, beating analysts’ estimates of $2.55 and revenue of $4.67 billion, exceeding expectations of $4.53 billion.

Semiconductors, Software & Smartphones

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) is preparing to pour tens of billions of dollars into Arizona to add several new chip plants, which would lift its total presence in the state to roughly a dozen facilities.

HD Hyundai is widening a multi-year technology rollout with Palantir Technologies Inc. (NASDAQ:PLTR) to push Palantir's Foundry and Artificial Intelligence Platform deeper across the industrial group, expanding beyond early deployments in refining, shipbuilding, and construction equipment.

Accenture Plc (NYSE:ACN) and Palantir Technologies Inc. (NASDAQ:PLTR) disclosed that they have been selected by UK-based Sovereign AI (S-AI) to support the development and scaling of next-generation AI data centers across the EMEA region.

Nvidia Corp. (NASDAQ:NVDA) is betting that the future of artificial intelligence lies not in building bigger models, but in running them more efficiently, ramping up investments in inference as the industry pivots to real-world deployment.

Dell Technologies Inc. (NYSE:DELL) is expanding its role in both education and enterprise AI as new products and internal changes strengthen its growth outlook.

Meta Platforms Inc. (NASDAQ:META) announced that it is turning Threads into a much bigger business as the app matures into a fast-growing conversation hub.

Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) CEO Sundar Pichai announced that students can now prepare for the SAT for free using Google’s Gemini AI.

Apple Inc. (NASDAQ:AAPL) is reportedly working on a new AI-powered pin, which could be launched as early as 2027, to compete with OpenAI's first wearable set to debut in 2026.

Applied Digital Corp. (NASDAQ:APLD) is scaling its AI ambitions, breaking ground on a massive new AI Factory campus in the southern U.S. as strong earnings momentum fuels its push into hyperscale infrastructure.

Broadline Retail & Electronic Equipment

Alibaba Group Holding Ltd. (NYSE:BABA), following Big Tech peers in the U.S., has struck a nuclear power partnership in China, underscoring how artificial intelligence is reshaping global energy strategies.

Amazon.com Inc. (NASDAQ:AMZN) CEO Andy Jassy has committed the tech giant to funding its own massive energy needs for artificial intelligence, aligning with a similar pledge from Microsoft Corp. (NASDAQ:MSFT) amidst growing political pressure to protect consumers from rising electricity bills.

Amazon.com founder Jeff Bezos-backed commercial space flight company Blue Origin has entered the space-based internet service sector with the new “TeraWave” service set to take on Elon Musk‘s internet provider Starlink.

Amazon.com is reportedly set to begin its next wave of mass layoffs affecting its white-collar corporate workers in its effort to streamline its bureaucracy and drive efficiencies.

Microsoft co-founder Bill Gates and OpenAI are joining forces to launch a $50 million project to bring artificial intelligence to African healthcare systems.

Microsoft disclosed a multi-year deal with Mercedes-AMG PETRONAS Formula One Team to integrate Microsoft’s technology across the team’s racing operations.

Automobile

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk announced the revival of the company’s Dojo3 supercomputer project, highlighting progress on the AI5 chip while inviting top engineers to help build “what will be one of the highest volume chips in the world.”

Tesla announced that the free Full Self-Driving (FSD) transfer service will end on March 31.

Insurance provider Lemonade Inc. (NYSE:LMND) has said that it will offer a 50% rate cut for Tesla drivers when the automaker’s Full Self-Driving (FSD) system is engaged, as it can reduce accidents, the company shared.

The National Highway Traffic Safety Administration (NHTSA) has launched a probe into nearly 600,000 General Motors Co. (NYSE:GM) vehicles following engine failure reports.

General Motors will reportedly end production of its most affordable EV, the Chevrolet Bolt, as well as move Buick production out of China into Kansas.

Rockwell Automation, Inc. (NYSE:ROK) said it had deepened its collaboration with Lucid Group (NASDAQ:LCID) to support the automaker's expanding manufacturing facility in Saudi Arabia.

Artificial Intelligence (AI)

OpenAI’s annualized revenue surged past $20 billion in 2025, marking extraordinary growth that underscores booming demand for AI — and the immense financial strain required to sustain it.

OpenAI and ServiceNow Inc. (NYSE:NOW) are deepening their AI push as the software maker looks to embed advanced automation into core business workflows and reignite growth momentum.

OpenAI CEO Sam Altman has reportedly met with leading investors in the Middle East as he eyes $50 billion in funding.

PwC‘s global chairman warned that many corporate leaders are rushing into artificial intelligence (AI) without the foundational systems needed to make it work, leaving more than half of companies seeing no real benefit.