Highlights for this morning: Apple to launch AI search, Figma stock plummeted, Trump expects Musk's kaboom

Apple plans to launch its own AI search, which will be part of a major Siri update and could appear in Safari and Spotlight, intensifying competition with Google and OpenAI. Donald Trump has asked the U.S. Supreme Court to expedite an appeal in a case over duties that have been ruled illegal. Figma shares are down 14% after its first report since its IPO, despite revenue growth. On these and other topics - in our review of key events for the morning of September 4.

Apple plans to launch its own artificial intelligence-based search service called World Knowledge Answers in 2025, sources told Bloomberg. The new system will be part of a major upgrade of Siri and may appear in the Safari browser and Spotlight search in the future. The service will work as an "answer engine" - analogous to OpenAI's ChatGPT and Google's AI Overviews - using large language models.

The company has entered into an agreement with Google to test its AI model to improve its voice assistant. The new interface will make it possible to search for information on the Internet using text, photos and videos, as well as receive brief and accurate AI summaries of results.

Donald Trump has asked the US Supreme Court to expedite the appeal in the case of duties, which were previously recognized illegal by the federal courts, writes CNBC. The appeals court ruled that by using the IEEPA law to impose global trade restrictions and declaring the trade deficit a "national threat", Trump exceeded his authority, as the right to set import duties is reserved to Congress.

The plaintiffs, who have won previous proceedings, argue that the new fees harm small businesses and have "no legitimate basis." The Supreme Court must decide whether it will speed up the process and stay the appeals court ruling, which expires Oct. 14.

Figma shares fell 14% in extended trading after the company released its first report since its IPO in July, CNBC reports. Revenue in the second quarter rose 41% to $249.6 million, beating analysts' forecasts, and profit was $846,000 versus a loss of $827.9 million a year earlier. The company forecast $263-265 million in third-quarter revenue, above consensus, and expects more than $1.02 billion in profit.

Figma is actively developing new products: AI tools Figma Make and Figma Sites, and has also bought startups Modyfi and Payload. The company has more than $1.6 billion in cash and $90.8 million in bitcoin ETFs. CEO Dylan Field said that the presence of cryptocurrency on the balance sheet is just an element of a diversified strategy, not the core business.

Donald Trump said in an interview that Elon Musk has "no choice" but to return to the Republican Party, describing the alternative for the businessman as being part of the "radical left," Bloomberg reports. Despite publicly severing their relationship earlier this year, Trump has said he respects the entrepreneur, calling him "80 percent genius and 20 percent a man with problems."

The disagreement arose over a law that eliminated tax credits for Tesla electric cars. Musk then accused Trump of increasing the deficit and promised to create a "third party". In response, Trump threatened to deprive him of state support and contracts.

Shares of Japanese electronic components manufacturer Nidec fell by 22.44% - a record one-day collapse in the history of the company, writes CNBC. The reason was the announcement of an investigation into possible accounting irregularities at subsidiaries, including China's Nidec Techno Motor. An internal audit revealed documents indicating the involvement of management in manipulations.

The company has already set up an independent committee to investigate. Previously, Nidec delayed reporting due to errors in specifying the country of origin of products, which could lead to non-payment of import duties.

Nidec is one of the world's largest manufacturers of mini and brushless motors for hard disk drives, electric vehicles, home appliances and industrial robots. Since the beginning of the year, the company's shares have fallen by 10.6%, while the Nikkei 225 index rose by 5.1%.

- Japan's broad Topix index jumped 1 percent and the Nikkei 225 jumped 1.5 percent immediately.

- South Korea's Kospi index added 0.1%, while the Kosdaq index of small companies rose 1%.

- Australia's S&P/ASX 200 was up 0.9 percent.

- Futures on the S&P 500 and Nasdaq 100 were adding within 0.1%, with contracts on the Dow Jones Industrial Average in slight negative territory by about the same amount.

This article was AI-translated and verified by a human editor