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How Apple and other tech stocks are impacted by Trump tariffs

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Trump holding a poster showing tariff rates

Did Nintendo bump up the price of its upcoming Switch 2 due to Trump's tariffs? It seems like that could be the case.

The entire stock market has been thrown into turmoil following President Donald Trump's implementation of across-the-board "reciprocal" tariffs on April 2. Trump waited until after the markets closed on Wednesday so the full force of his tariffs announcement wasn't felt until the following day.

Tech stocks like Apple, Amazon, and Nvidia have been hit especially hard by Trump's tariffs. On Wednesday, for example, Apple stock fell 9.2 percent. Other tech stocks, such as Microsoft, were down between 2 percent and 9 percent.

While a "baseline" 10 percent minimum tariff has been put on goods coming in from any country, Trump has implemented a much larger tariff on the U.S.'s biggest trade partners like China and Taiwan. Many tech companies, such as Apple, manufacture their products in those countries thus those companies will be forced to pay a much higher tariff and, in turn, likely pass on those additional costs to customers.

Trump imposed a 32 percent tariff on goods from Taiwan, for example. As for China, Trump hit them with a 34 percent tariff. However, China's reciprocal tariff is in addition to an existing 20 percent tariff on goods from the country.

So, what does that mean for consumers? Your favorite tech products are about to get more expensive. In fact, there was already speculation among analysts following Nintendo's Switch 2 announcement yesterday that the gaming company had priced the new console at $450 with Trump's incoming tariffs in mind.

Trump claims he implemented the tariffs to bring manufacturing back to the U.S. Trump even specifically mentioned Apple in his speech.

“Apple is going to spend $500 billion, they never spent money like that here,” Trump said. “They’re going to build their plants here.”

However, Apple isn't going to start building its consumer-facing products like the iPhone here in the U.S. Its investment is in building servers in the U.S. And even that is years away, as companies like Apple still need to set up their manufacturing plants and factories in the U.S.

So, in the near future, it's very likely that you'll be paying more for — a lot more — for your favorite new tech. And tech stocks — and the stock market as a whole — will likely continue to suffer as a result of consumers having less spending money.

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The TikTok artist behind viral unknowing bunny song pits human creativity against AI illusion

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TikTok response to the AI slop of bunnies jumping on a trampoline

Were you tricked by the video of a bunch of bunnies jumping on a trampoline on TikTok? Well, nearly 230 million people were — and plenty of those viewers had no idea that it was actually AI. In response, the creator who brought us the Punxsutawney Phil musical, Oliver Richman (or @olivesongs11), wrote and recorded a 30-second song about the AI video, also for TikTok. He wrote the song on day 576 of an ongoing project, where he writes a new song each day.

"That project has changed my life in so many ways," Richman told Mashable, adding that it brought him "back to the joy of creating." He scrolled across the viral video of the bunnies jumping on the trampoline and said he was "certainly fooled" and "thought they were real."

"So when I learned that they weren't, I was like, 'Oh, I think this is today's song."

The unknowing bunny song on TikTok now has over 3.8 million views, 600,000 likes, and hundreds of comments like, "Bo Burnham! At The Disco" and "Wait until you see the bear on a trampoline. Spoiler: also AI."

The song goes like this:

There were bunnies that were jumping on a trampoline

And I just learned that they weren't real

If a bot can inhabit

An unknowing rabbit

It might manufacture the way you make me feel

How do I know that the sky's really sunny?

Sometimes it feels like your love is as real as

An unknowing bunny

The video has inspired covers and renditions, stop-motion videos, reactions, and a variety of other really cool human-made art. As one creator wrote on a TikTok video using the sound, "The fact that this song written about AI is going viral is incredibly healing. Especially because us as artists and songwriters are being threatened of our livelihoods due to the use of AI. And AI could never create something this unique with this much feeling."

Richman said the response to his video has been "the most surreal thing ever."

"Every piece of art that I've seen, I like get emotional," he said. "It certainly made me feel connected to the beauty of the messiness of being a human. And the imperfections that AI tends to delete or perfect — seeing all of this human art has just been a very emotional and cool experience."

As Mashable's Tim Marcin recently wrote about the influx of faux surveillance footage of animals, it "seems to be a new genre of AI slop." But give the internet slop, and creators might make porridge (is that a saying?).

In the face of all the AI slop we see online, creators like Richman are staying positive. "Art is so cool. Human art is so cool, and that really excites me."

Updated on Aug. 4 at 3:00 p.m. ET — This story has been updated to include an interview with creator Oliver Richman. Some quotes have been lightly edited for clarity and grammar.

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Verizon reportedly cuts loyalty discounts after increasing fees

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Verizon customers reportedly got double bad news this week: the phone carrier is raising fees and removing loyalty discounts.

According to users on the Verizon subreddit, several customers reported receiving an email from Verizon informing them their account discounts are ending. "We are writing to let you know that a discount on your account will soon end," the email said, according a redditor. "This discount will be removed no sooner than September 1, 2025." Several other redditors chimed in on the thread, saying they had a received the same email about losing loyalty perks offered to longstanding customers. Mashable has reached out to Verizon for comment and will update this story with a response.

Reddit

A few days earlier, Verizon confirmed to Tom's Guide that the company is increasing fees for activations, phone lines, and tablet plans by Sept. 1.

Verizon customers are understandably unhappy about the changes. Some commented that they might change phone carriers to T-Mobile or AT&T as a result. "They just keep finding ways to crap on loyal customers," commented one redditor, underscoring the general sentiment of the thread that loyal customers are being penalized for their loyalty.

According to Tom's Guide, Verizon is reportedly trying to persuade customers on older plans to switch to its newer myPlan subscription. "We want to ensure you get the best value and experience from Verizon and encourage you to check out our myPlan options for the plan that works best for you," the email to customers reportedly said.

Cutting loyalty discounts and upping fees is a bold way to do that, since it seems to be alienating customers even more.

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xAI launches Grok Imagine for AI video and images: How to try it

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Over the weekend, xAI released an updated version of the Grok iOS app with a new tool called Grok Imagine, which lets users quickly create AI images and videos. On X, excited Grok users are eagerly sharing their creations, and xAI founder Elon Musk is retweeting user posts.

Grok Imagine is available now to Heavy and Premium+ subscribers on the Grok iOS app, and to Heavy users on the Android app.

Grok Imagine features generative AI with text-to-image capabilities as well as the ability to turn images into short video clips with sound. In this way, it's similar to the new Midjourney AI video tool. Rival AI companies have AI tools that allow users to generate original videos based solely on text prompts, such as Veo 3 from Google and Sora from ChatGPT-maker OpenAI.

Musk praised Grok Imagine on X, calling it a "meme motherlode." He also teased the NSFW capabilities of the model and said Grok Imagine "should get better almost every day."

Earlier this month, xAI released Grok 4, the company's latest and most intelligent model to date. In our previous testing, Grok lagged behind other popular AI image generators, particularly when it comes to preventing deepfakes.

How to try Grok Imagine

While Grok Imagine initially launched solely within the Grok iOS app, the DogeDesigner X account, which Musk often retweets, reported that it's now available on Android as of Monday for SuperGrok Heavy users.

Mashable tested Grok Imagine using the iOS app, and found it easy to start creating images and videos there.

After opening the Grok app, users should see two tabs at the top of the screen: "Ask" and "Imagine."

Tap on either the "Imagine" tab or the "Create Image" button and you will enter Grok Imagine.

Grok imagine on ios app

Left:
The Grok iOS app.
Credit: xAI
Right:
Features AI-generated images.
Credit: xAI

How to create images with Grok Imagine:

  1. Type in a text-to-image prompt, upload an image, or use the voice mode by tapping "Speak"

  2. Grok will generate the image and some variations.

  3. Keep scrolling to automatically generate additional images

  4. Share or download the images

How to create videos with Grok Imagine:

  1. Tap on an image and select "Make video"

  2. Choose from the options: Custom, Spicy, Fun, Normal

  3. Your video will automatically generate and appear on the app

How to turn images into video with Grok Imagine

  1. At the bottom of the app, tap the photo icon with a plus sign

  2. Upload an image from your phone

  3. Your video will automatically generate and appear on the app

Mashable is still in the process of testing Grok Imagine for ourselves, but the initial results seem to be… fine. As with other Grok tools, Grok Imagine seems to be lacking in safeguards that are commonplace in the AI industry. We've reached out to xAI for comment.


Disclosure: Ziff Davis, Mashable’s parent company, in April filed a lawsuit against OpenAI, alleging it infringed Ziff Davis copyrights in training and operating its AI systems.

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