Daily Crunch: Yep, Apple is buying Intel’s modem business

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1. Apple acquiring most of Intel’s smartphone modem business in $1B deal

Apple has entered into a deal to acquire a majority of Intel’s modem business, including Intel IP, equipment, leases and employees — it’s bringing over 2,200 new roles and 17,000 wireless technology patents.

The deal confirms earlier rumors that Apple would acquire the business in order to permanently uncouple itself from Qualcomm, the source of much contention for both parties over the last several years.

2. SoftBank announces AI-focused second $108 billion Vision Fund with LPs including Microsoft, Apple and Foxconn

Worth noting: The second Vision Fund’s list of expected limited partners does not currently include any participants from the Saudi Arabia government.

3. Twitter Q2 beats on sales of $841M and EPS of $0.20, new metric of mDAUs up to 139M

The U.S. continues to be Twitter’s revenue engine, the company said. It accounted for $455 million of its sales, up 24%, while international revenue was $386 million, up just 12%.

(Photo by Cheriss May/NurPhoto via Getty Images)

4. Trump threatens Apple with tariffs, Google with investigation on Twitter

The president of the United States called out two of the nation’s largest tech firms in a pair of tweets this morning.

5. Google says it doubled Pixel sales year-over-year

It looks like the mid-range Pixel 3a is the hit Google surely hoped it would be. The news came as part of the solid earnings that parent company Alphabet reported yesterday.

6. SpaceX succeeds with first untethered StarHopper low altitude ‘hop’ test

StarHopper is a scaled-down test vehicle designed to help SpaceX run crucial preparation trials for the new Raptor engine ahead of building its full-scale Starship reusable spacecraft.

7. Africa’s ride-hail markets are hot spots for startups and VC

The big players such as Uber and Bolt are competing in Kampala and Nairobi — where, in addition to car service, they offer rickshaw taxis. Meanwhile, many ride-hail companies in Africa are adapting unique product solutions to local transit needs. (Extra Crunch membership required.)