Microsoft has launched new lightweight AI models. Perplexity has a big new raise. Meta wants other people to build Quest headsets. Another reason Apple needs to find new revenue. And if Congress really is going to ban TikTok, are they ever going to tell us exactly why?

Links:

• Microsoft launches Phi-3, its smallest AI model yet (The Verge)
• Meta Expands Its Mixed Reality Beyond the Quest Headsets (CNET)
• Meta wants to be the Microsoft of headsets (The Verge)
• China Smartphone Sales Remain in Black on Huawei, HONOR, Xiaomi Outperformance (Counterpoint)
• AI Search Startup Perplexity Valued at $1 Billion in Funding Round (Bloomberg)
• Adobe’s new Firefly model makes it easier to use Photoshop’s AI tools (The Verge)
• If TikTok Is Such a Threat, Show Us the Receipts (Bloomberg)

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