Apple reportedly looking to buy Cobalt directly from miners. The metal is used in lithium-ion batteries in Apple's devices, but it can also power electric vehicles. Shares of Apple up half a percent on Wednesday. Inverse Technology Reporter Mike Brown explains how this move might help Apple further its dominance in the tech space.
"There's a race at the moment for supplies over the coming few years," says Brown. Electric vehicles use about 1,000 times as much Cobalt as smartphone devices.
"It would be the first time Apple secured its own Cobalt supply so it could help to re position itself as a company, rather than going to factory manufacturers that deal directly with suppliers itself," says Brown.
The U.S rushed to seize the assets of Silicon Valley Bank after a run on the bank, the largest failure of a financial institution since Washington Mutual during the height of the financial crisis more than a decade ago.
Hackers have broken into a Washington, D.C. health insurance marketplace and stolen sensitive personal data including Social Security numbers and home addresses of members of Congress, their employees and family members.
