Tech Giants Invest in AI, While Apple Sees iPhone Sales Surge
Apple reported record iPhone sales, while other tech companies are making significant investments in artificial intelligence (AI), according to various reports. Meanwhile, in other news, millions of low-income households in the UK will continue to receive £150 off their energy bills for another five years.
Apple announced Thursday that iPhone sales hit an all-time high in the final three months of last year, boosted by the new range of iPhone 17s. Revenue rose by 16% compared to the same period last year, reaching £144 billion, the strongest growth since 2021. According to Apple, sales jumped in China, Europe, the Americas, and Japan. Apple chief executive Tim Cook said the iPhone's boost in sales meant the firm was in "supply chase mode." However, sales of wearables and accessories, including the Apple Watch and AirPods, fell by roughly 3%, while sales of Mac computers were down by just over 7%.
Meta, the owner of Facebook, plans to nearly double its spending on AI projects this year, even as some executives warn of a potential bubble in the industry. During a call with financial analysts on Wednesday, the company said it expects to spend up to £135 billion this year, mostly on infrastructure related to AI. This is nearly twice the £72 billion Meta spent last year on AI projects and infrastructure. In the last three years, the technology giant has spent roughly £140 billion in an attempt to get ahead of the AI boom. Meta boss Mark Zuckerberg said on Wednesday that he is expecting "2026 to be the year that AI dramatically changes the way we work."
Tesla reported a 3% decline in total revenues in 2025, while profits fell 61% in the last three months of the year. The electric vehicle (EV) maker is shifting its focus to artificial intelligence (AI) and robotics. Tesla also announced plans to end production of its Model S and Model X vehicles and will use the manufacturing plant in California that made those cars to produce its line of humanoid robots - known as Optimus. In January, China's BYD overtook Tesla as the world's biggest EV maker.
Waymo, the US driverless car firm, said it hopes to be operating a robotaxi service in London as soon as September this year. The UK government has said it plans to change regulations in the second half of 2026 to enable driverless taxis to operate in the city but has not given a specific date. Waymo said a pilot service will launch in April and Local Transport Minister Lilian Greenwood said: "We're supporting Waymo and other operators through our passenger pilots, and pro-innovation regulations to make self-driving cars a reality on British roads."
In other news, around six million low-income households will continue to receive £150 off their winter energy bills after the government confirmed its Warm Home Discount will remain for five more years. The scheme, which has been in place since 2011, was widened last year to include a further 2.7 million families. Ministers said extending the scheme until the winter of 2030-31 would help with the ongoing high cost of living, which has largely been fuelled by a big increase in energy costs.
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