Crypto News: Apple’s chip shake-up

Hey everyone, it’s Mark. Apple’s new Mac chip road map represents the company’s latest move to rebuild its operations for the artificial intelligence world. Also: The company is readying new Apple Pencil styluses and preparing to make the iPhone’s tap-to-pay feature more prevalent in its retail stores.

Last time in Power On: Apple’s sweeping price increases bring home the cost of the AI era.

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The Starters

John Ternus, senior vice president of hardware engineering at Apple Inc., during an Apple event in New York, US, on Wednesday, March 4, 2026. Apple Inc. this week unveiled a slate of new products, including the $599 MacBook Neo - its first true low-end laptop - and the iPhone 17e. The company also announced updated versions of the MacBook Pro, MacBook Air, Studio Display and iPad Air. Photographer: Adam Gray/Bloomberg — Apple’s John Ternus showing the company’s Mac lineup.

When Apple Inc. canceled its self-driving car project in 2024, the move appeared to wipe out a decade of work. The effort had involved thousands of employees, the creation of hundreds of patents, specialized facilities and more than $10 billion in spending.

But even though an Apple vehicle never reached the market — and likely never will — the endeavor had an important legacy: helping lay the technological foundation for the company’s modern artificial intelligence hardware strategy. Without that push, Apple would probably be even further behind in AI than it is today.

Early on in the history of the car program, Apple decided...