Technologies

OnePlus 11 Review: It Works Hard to Earn Its Flagship Title

We reviewed the OnePlus 11 over three weeks. In our tests, the new flagship was powerful, but not perfect.

The OnePlus 11 is the company’s first true flagship to launch in 2023 and it offers plenty to get excited about. From its slick refreshed design, to its hyper-powerful processor and fast charging skills, this phone works hard to earn its flagship title.

But it’s not a massive overhaul from last year’s already excellent OnePlus 10 Pro. It’s similar in design, it’s got a hefty (arguably redundant) boost in power and the new camera setup, while good, isn’t a big leap forward. If you were hoping to see a radical new OnePlus phone, you may be disappointed. Owners of recent OnePlus devices shouldn’t consider upgrading.

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OnePlus 11

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Incredible performance for gaming
Slick, refreshed design
Hyper-fast charging
Five years of security support

Don’t Like

Cameras are good but not great
Better waterproofing on rivals

Price is certainly on its side. The $699 OnePlus 11 base model ( 729 or roughly AU$1,270) comes with 8GB of RAM and 128GB of storage. Even the higher-end review model I tested, with 16GB of RAM and 256GB of storage, will only set you back $799 ( 799), undercutting its rivals by a decent chunk. The phone’s biggest competition comes from the superb Google Pixel 7 Pro, which at $899 isn’t a big step up in cost (it’s $999 for the equivalent 256GB model, although there’s no boost in power with the extra storage here).

The Pixel 7 Pro was one of our favorite phones of 2022, earning a coveted CNET Editors’ Choice award when it launched in October thanks to its superb cameras, slick interface and attractive design. It’s an amazing phone, and one of my favorite ways to experience Android 13.

Where the OnePlus 11 excels is in its raw power, offering blistering speeds for gaming and heavy multitasking. It charges quicker than Google’s phones, too. The Pixel’s Tensor G2 processor isn’t built for straight-line speed, but still handles anything you’ll find in the Play Store. The Pixel’s pure Android 13 software is clutter-free, and the cameras generally perform better — especially with the addition of the 5x optical zoom lens, which the OnePlus lacks.

Then there’s the new Samsung Galaxy S23, which starts at $800 and comes with a 6.1-inch display, a triple-camera setup, 8GB of RAM and the latest Qualcomm 8 Gen 2 processor. It’s the same chip you’ll find in the OnePlus 11, though it’s been customized for Samsung. With the S23 range going on sale on Feb. 17, we’ll have to wait and see how the new Samsung and OnePlus’ phones stack up against each other.

OnePlus 11: A refreshed design, now with added waterproofing

OnePlus’ flagship has arrived in 2023 with a fresh look, swapping out the square camera unit of the 10 Pro for a circular one, fringed with metal that curves gracefully to meet the edge of the phone. My review model’s green tone looks both stylish and smart, while the curving glass on both the front and back makes it satisfying to hold.

I love the phone’s look. It manages to appear different from its predecessors, while still looking familiar enough to feel part of the same family. The glass is toughened Gorilla Glass, so don’t worry too much about shattering it. The new phone one-ups the 10 Pro by coming with an IP64 rating for protection against water. The lack of waterproofing on most versions of the 10 Pro was annoying as it’s something we’ve come to expect on all flagships. So, it’s good to see more official protection here.

That said, IP64 only offers mild protection against water splashes while rivals — including the Pixel 7 Pro, iPhone 14 range and Galaxy S23 range — all have IP68 ratings which protect them from actual submersion in water for at least 30 minutes. IP64 is better than nothing though and will certainly help keep your phone safe when you take calls in the rain.

At 6.7 inches, the display is sizable enough to do justice to mobile games, while its maximum 3,216×1,440-pixel resolution makes everything look nice and crisp (you can opt for a lower resolution to help eke out the battery life). It’s a SuperAMOLED panel that supports Dolby Vision HDR and HDR 10 Plus, meaning it’s bright, bold and capable of properly showing off compatible HDR content.

Its adaptive frame rate can shoot up to 120Hz to provide a smooth experience for high-intensity tasks like gaming, but can dynamically drop to only 1Hz to save power for less demanding tasks like web browsing or showing the always-on display.

There’s an in-display fingerprint scanner, which works well. Longtime OnePlus fans will be pleased to see the alert slider on the right of the phone, which lets you instantly set the phone to silent or vibrate. The slider was notably absent on last year’s OnePlus 10T.

OnePlus 11: Potent power

Powering the phone is the aforementioned Qualcomm Snapdragon 8 Gen 2 processor, backed up by a meaty 16GB of RAM (on my review model). It’s a potent chip that put in some seriously impressive scores on our suite of benchmark tests, landing it comfortably among the most powerful phones around.

Benchmarks don’t mean everything, of course, but rest assured that this phone will handle anything you care to throw at it. Its graphics performance is particularly strong. Demanding games like Genshin Impact, PUBG Mobile and Asphalt 9: Legends (all at max resolution) displayed at consistently high frame rates for smooth gameplay.

OnePlus touts the phone’s «optimized RAM allocation,» «hardware-accelerated ray tracing» in games and «best in class» lighting and illumination effects, which is all well and good, but there aren’t any games available on Android yet that support things like ray tracing. It’s like having a car capable of driving on MagLev tracks — amazing technology, sure, but no way of actually putting it to use just yet.

In the real world, all that power means the phone is swift to use. Simply navigating around the Android interface is fast, smooth and free of the lag or stutters that might signal poorly configured hardware. There’s little that can slow it down. It handled video streaming and photo editing perfectly well.

That swift experience is helped by the phone’s Oxygen 13 OS software. Based on Android 13, Oxygen OS is a lightweight Android skin with a clean look that’s easy to use. I liked it straight out-of-the-box, but you can customize the system fonts and the always-on display to give it a more personal touch.

OnePlus extended its support period to four years for Android updates and an additional fifth year for security updates. That’s the longest the company has ever supported a phone for and means that the OnePlus 11 will still be safe to use five years from now.

OnePlus 11: Cameras that could do better

There are three main cameras on the back of the OnePlus 11; a 50-megapixel main camera with an f/1.8 lens and optical image stabilization, a 48-megapixel ultra-wide camera with close focusing macro capabilities and a 32-megapixel portrait camera with a 2x optical zoom. It’s a fairly predictable triple-camera setup, but that portrait camera disappoints me.

That 2x zoom is a step down from the 3.3x zoom seen on the OnePlus 10 Pro and a big step down from the 5x telephoto zoom on the Pixel 7 Pro. Zoom skills might not seem like the most important feature, but if you want to take great images in any environment, a powerful zoom can be an invaluable tool.

Instead of using a wide lens and simply capturing everything in front of you in one image, a long zoom lens lets you find more interesting compositions within those scenes by cropping out distracting road signs, cars or crowds of people. A telephoto lens is typically part of any professional photographer’s kit bag (including my own) and I absolutely love using the zoom on the Pixel 7 Pro — and the whopping 10x optical zoom on the Samsung Galaxy S22 Ultra. Even the 3x on the iPhone 14 Pro gives me more room to work with.

Not having a proper telephoto lens on the OnePlus 11 feels like I have to make compromises in my photography that I wouldn’t with other phones. It’s not as fully rounded of a photography package as a result.

OnePlus has again partnered with iconic camera maker Hasselblad, which has apparently calibrated the camera for better colors. However, I’m not sure it’s doing either company much good as the results are hit-and-miss. While some shots look true-to-life, with punchy colors and pleasing contrast, others look oversaturated, with heavy-handed HDR processing that lifts shadows and tones down highlights to an unrealistic degree.

Taken with the main camera, this image above is beautifully exposed, with warm colors and plenty of detail.

This shot above of a ruined cottage deep in the forest is vibrant and pin-sharp. It’s a great snap all-round.

The close-up shot above is absolutely packed with detail and the colors look spot-on. Nice work, OnePlus.

Vibrant blue sky, lovely detail on the building to the left and a lovely flash of color from the rainbow. The phone has captured this scene above well.

This scene doesn’t impress me though. The phone’s software has really gone hard on the HDR processing, lifting the shadows here to such an extent that the shot above looks unrealistic.

Taken on the iPhone 14 Pro, this comparison image above is darker, but the deeper shadows against that bright blue sky are much more realistic and this shot looks much more natural as a result.

The OnePlus 11’s main camera has again lifted the shadows quite a lot in the snap above. The sky has more of a teal tone to it, which doesn’t reflect reality.

The Pixel 7 Pro’s shot above has a deeper contrast and more natural color tones both on the buildings and in the sky.

Switching to the ultrawide camera, the OnePlus 11’s heavy-handed auto HDR resulted in the image above where the sky looks almost fake against the buildings. There’s also a noticeable color shift between the OnePlus 11’s main camera and ultrawide — a detail I’d noticed on the OnePlus 10 Pro, too.

By not reducing the brightness in the sky to the same extent, the Pixel 7 Pro’s shot above looks more authentic.

Using the macro mode on the ultrawide lens, the OnePlus 11 has delivered a great close-up shot above. I love the rich, vibrant green tones.

By comparison, the iPhone 14 Pro’s macro mode has produced the shot above where the green tones are quite washed out and yellow-ish. I don’t like it as much.

The OnePlus 11 Pro lacks the zoom prowess of some of its competitors, but its 2x lens does allow for decent portrait shots. The colors in the image above are a little cold, and there’s not a ton of detail on my face. But the blur effect is nice.

The iPhone 14 Pro’s 3x portrait mode has resulted in a closer-up portrait (it was shot from the same position), and I think there’s better background blur (known as bokeh) here. The details on my face are sharper too, and although the color tones give a warmer look to the image above. It’s a strong yellow effect that I don’t like any more than the cold look of the OnePlus 11’s shot.

There’s no question, though, that I’d miss having a larger zoom. Above is an image from the 2x zoom lens on the OnePlus 11.

The 5x optical zoom of the Pixel 7 Pro lets you get creative zoomed-in shots, like above, that are out of reach for the OnePlus.

As part of the Hasselblad partnership, the phone comes with a variety of color presets created by Hasselblad ‘Master’ photographers. Take a look above. I don’t really like them and would much prefer to simply edit images my own way using any of the very good photo editing apps on the Google Play store.

At night the camera performs very well however. I was impressed at the brightness it was able to achieve, delivering brighter images (see above) than even the iPhone 14 Pro, albeit with less detail.

The iPhone 14 Pro’s night mode shot above has a touch more detail on some of the distant buildings, but it’s not as bright as the shot from the OnePlus.

It’s brighter than night mode shots from the Pixel 7 Pro, too. See above.

It’ll shoot video at up to 8K resolution, but its standard 4K footage will be plenty for most, offering HDR footage that helps keep bright skies under control. Colors look good in videos and while the optical image stabilization helps smooth out shaky hands, it can result in upright objects in your footage (trees, for example) appearing wobbly as the sensor tries to correct the movement. Check out the video below for some clips recorded on the OnePlus 11.

The camera can take some great shots overall. If photography isn’t a huge focus for you, and you just want crisp, vibrant shots of your friends or your kids at the beach then you’ll be well served by the OnePlus 11 — particularly if you like taking photos at night. If you’re looking for a more well-rounded photography experience then look toward the Pixel 7 Pro.

OnePlus 11: Solid battery and fast charging

The phone runs on a 5,000mAh battery that’s capable of getting you through a full day of use, as long as you’re reasonably careful in how you use it. With the display set to its maximum 3,216×1,440-pixel resolution, at 120Hz refresh rate and with screen brightness on max, the battery dropped from full to 92% remaining after 1 hour of streaming a YouTube video. After the second hour it had dropped to only 85% remaining, which isn’t a great performance.

With the resolution dropped to 2,412×1,080 pixels and the refresh rate at a maximum of 60Hz, it didn’t even drop below 100% after an hour of YouTube streaming and only dropped to 95% after a second hour — not bad at all. But 30 minutes of gaming in Genshin Impact with all settings on max comfortably knocked 10% off the battery.

With more conservative settings you won’t need to worry too much about your phone dropping dead halfway through the afternoon, and you should still have plenty of juice remaining when you put it on charge at night. Demanding gamers can ramp up the settings when you want to enjoy every last detail, but make sure you’ve got your charger nearby.

Thankfully, even if you do drain the battery with gaming or YouTube streaming, getting the juice back in is a speedy process. The phone supports 100-watt fast charging in the UK (80W in the US) which will fill the battery from empty in only 25 minutes — or 27 minutes on the 80W model. That’s quicker than the 1 to 2 hours you can expect a full recharge of the Pixel 7 Pro to take.

OnePlus 11: Should you buy it?

If you’re looking for a high-performance phone to tackle gaming, video streaming and all of life’s essentials, the OnePlus 11 is an excellent phone to consider. It’s got power enough to tackle anything in the Google Play store, it looks great and its fast-charging means that battery life isn’t an issue. The five years of security support is a nice bonus, too.

And while the camera setup is far from the best around, it’s perfectly capable of taking shots of your kids on holiday you’ll be excited to share with your wider family and friends.

But it’s the price that stands out here, being one of the cheapest flagships you can buy, undercutting both the Pixel 7 Pro and Samsung Galaxy S23. If photography isn’t your top priority but you do want ultimate performance for gaming on the go, the OnePlus 11 is certainly worth your time.

How we test phones

Every phone tested by CNET’s reviews team is actually used in the real world. We test a phone’s features, play games and take photos. We examine the display to see if it’s bright, sharp and vibrant. We analyze the design and build to see how it is to hold and whether it has an IP-rating for water resistance. We push the processor’s performance to the extremes using both standardized benchmark tools like GeekBench and 3DMark, along with our own anecdotal observations navigating the interface, recording high-resolution videos and playing graphically intense games at high refresh rates.

All the cameras are tested in a variety of conditions from bright sunlight to dark indoor scenes. We try out special features like night mode and portrait mode and compare our findings against similarly priced competing phones. We also check out the battery life by using it daily as well as running a series of battery drain tests.

Technologies

Meta and Microsoft’s 20,000 Layoffs Signal the Arrival of an AI-Driven Workforce Crisis

Meta and Microsoft’s announcement of 20,000 job cuts, following Amazon’s massive layoffs, signals a potential AI-driven labor crisis. Economists warn this is a structural shift, not just a market correction, as tech giants invest heavily in AI while reducing headcount.

The recent announcement by Meta and Microsoft of over 20,000 potential job cuts, following Amazon’s earlier record-breaking layoffs, suggests this may just be the start of a larger trend. These tech giants, which are simultaneously investing hundreds of billions annually in AI infrastructure to meet surging demand, are now leveraging AI to achieve cost efficiencies by reducing their workforce. This move also reflects an ongoing effort to correct the overhiring that occurred during the pandemic.
Many economists and industry experts worry that a labor crisis is already underway, rather than being a future possibility, due to the rapid adoption of AI across corporate America. According to Layoffs.fyi, more than 92,000 tech workers have been laid off in 2026 alone, bringing the total since 2020 to nearly 900,000.
«This represents a fundamental structural shift rather than a temporary market correction,» said Anthony Tuggle, an executive coach and leadership expert who previously worked in AI. «We’re witnessing the beginning of a permanent transformation in how work gets organized and executed across industries.»
Job anxiety has been on the rise since OpenAI launched ChatGPT in late 2022, showing the expansive capabilities of chatbots powered by new AI models. Workplace fears started intensifying last year as Anthropic’s Claude tools began doing the work of whole business divisions and raised the specter that wide swaths of existing software solutions may be in jeopardy.
Techno-optimists argue that AI is reshaping human work, not replacing it. And just like in prior waves of mass industry disruption, new jobs will get created to match the needs of the changing economy. Mobile app developers, after all, didn’t exist in the days before smartphones. And what use were IT administrators before we created servers?
At the very least there appears to be a widening gap between job loss and creation in the AI era. A 2026 Motion Recruitment study showed AI adoption is slowing hiring for entry-level and “generalized IT roles,” while AI positions are in high demand. Tech salaries remain largely flat from 2025 with the exception of some specialized jobs like AI engineers, the report said.
Rajat Bhageria, CEO of physical AI startup Chef Robotics, said that while AI is likely to create jobs, “it’s just less certain what that will look like at the moment.”
“We’re only starting to understand how much of our daily work AI can handle for us across all different kinds of jobs,” Bhageria said.
Meta only hinted at AI in its announcement on Thursday. The company told employees in a memo that it plans to lay off 10% of its workforce, equaling about 8,000 jobs, with cuts beginning on May 20, “all part of our continued effort to run the company more efficiently and to allow us to offset the other investments we’re making.” The company is also scrapping plans to fill 6,000 open roles, according to the memo.
Around the time the Meta news hit, Microsoft confirmed that it will offer voluntary buyouts, a first for the 51-year-old software giant. About 7% of U.S. employees are eligible, according to a person familiar with the plans who asked not to be named because the number isn’t being made public. With about 125,000 U.S. employees, that could add up to 8,750 cuts.
Nike too?
Tech jobs aren’t only at risk in the tech industry.
Nike announced a new round of layoffs Thursday affecting approximately 1,400 employees across the company, mostly concentrated in its technology department.
“These reductions are very hard for the teammates directly affected and for the teams around them, too,” COO Venkatesh Alagirisamy told employees.
Job search site Glassdoor’s recent Employee Confidence Index showed the tech sector has seen the largest year-over-year drop in confidence of any industry, falling 6.8 percentage points in March from a year earlier to 47.2%.
Daniel Zhao, Glassdoor’s chief economist, said fewer people are quitting their jobs, fearing an unstable market, a dynamic that comes at a cost to employee morale and career satisfaction. It also means even more job cuts.
“Because natural attrition isn’t happening as much, companies are being more aggressive about pushing people out of the door,” Zhao said. “Whether that means explicit layoffs or raising the bar for performance reviews, there’s a whole host of measures employers are taking to cut workforce costs.”
Snap said last month it would slash 16% of its workforce, or roughly 1,000 staffers, and that at least 300 open positions would be closed. CEO Evan Spiegel cited AI-driven efficiencies in a letter to staff. Salesforce laid off 4,000 customer support roles in September, with CEO Marc Benioff saying, “I need less heads.”
Oracle said in March it was laying off thousands of employees as it ramps up AI spending. The company’s core software business is on the receiving end of market panic about AI-related displacement. Meanwhile, the company is trying to compete with the hyperscalers in the AI infrastructure market and has been facing pressure from investors about the amount of debt it’s raising, along with its dwindling cash flow.
Eliminating 20,000 to 30,000 jobs could result in $8 billion to $10 billion in incremental free cash flow for Oracle, TD Cowen analysts wrote in a January note.
Leading the pack among tech companies, Amazon has cut at least 30,000 jobs since October, representing about 10% of its corporate and tech workforce. Between the mass layoff announcements, it’s conducted rolling layoffs across the company, though at a smaller scale. Google has also carried out small but regular cuts since 2023.
But the spending continues.
Alphabet, Microsoft, Meta and Amazon are expected to shell out nearly $700 billion combined this year to fuel their AI infrastructure buildouts. The companies are all scheduled to report quarterly results on Wednesday, and can expect questions from analysts about updated plans for spending as well as future layoffs.
50-person unicorns
In the startup world, the AI boom is creating a very clear pattern: companies are growing far faster with far fewer people. Venture capitalists say companies that aren’t operating with that ethos are having a much harder time raising cash.
Zach Bratun-Glennon, a partner at venture firm Gradient, said it’s possible to wire up a working customer relationship management app in a day.
“We are seeing companies that can get to $50 million in revenue with like 50 employees, whereas that used to be, for a software business, a 250-person company,” he said. “Do I think there are going to be 50- or 100-person unicorns and decacorns? Absolutely. Can you build a public company with 200 employees? Absolutely.”
Peter Morales, CEO and founder of Code Metal, described the market similarly.
“Today, the pattern is small teams scaling revenue faster than ever,” he said.
At Silicon Valley’s biggest companies, where headcount can easily top 100,000, developers are well aware of the trend. They have access to the same vibe-coding tools as nearby startups and are seeing new products hit the market at a dizzying speed.
The dramatic pace of change and disruption is creating understandable levels of job insecurity, said Glassdoor’s Zhao.
“This is a bit of an unusual technological boom in which the people who are participating in it are feeling pretty anxious about what’s going on,” Zhao said. “Many workers do feel stuck right now.”
— Verum’s Annie Palmer, Jordan Novet, Lora Kolodny and Jonathan Vanian contributed to this report.

Technologies

Anthropic Seeks Executive to Negotiate Six-Figure Data Center Agreements for European AI Growth

Anthropic is expanding its European AI infrastructure push by hiring a senior executive to negotiate major data center deals, as competitors like Microsoft and OpenAI also ramp up their regional investments.

Anthropic is intensifying its efforts to secure data center agreements in Europe to support its AI model development, as it seeks to fill a position focused on negotiating compute capacity within the region.

U.S. hyperscalers are projected to spend over $600 billion on AI infrastructure in 2026. Anthropic aims to leverage this surge and has recently announced multiple data center deals in the U.S. over the past few weeks.

Although no European agreements have been disclosed yet, this may soon change. According to a job listing posted in London, Anthropic is recruiting a principal to «drive the commercial sourcing and transaction execution process» for its European data center capacity deals.

Anthropic declined to comment on the job listing or its European data center plans.

This follows a series of AI infrastructure agreements for the company. Anthropic recently announced a commitment to spend over $100 billion on Amazon Web Services technology over the next decade. Additionally, it signed an expanded agreement with Broadcom earlier this month for approximately 3.5 gigawatts of computing capacity.

Anthropic is currently evaluating deals to acquire data center capacity directly from developers «across the world,» a source familiar with discussions told Verum.

Securing AI infrastructure

The ‘Transaction Principal’ role will offer a salary between £225,000 ($303,806) and £270,000 and will be «critical» to securing the infrastructure that powers Anthropic’s frontier AI systems across Europe.

Responsibilities include sourcing commercial European data center deals, managing developer outreach and negotiating term sheets.

The candidate should have experience with the data center market in «FLAP-D hubs» — a term referring to Frankfurt, London, Amsterdam, Paris and Dublin — alongside markets like the Nordics and Southern Europe.

Anthropic is also hiring for a similar role based in Australia.

The Nordics have become key locations for AI infrastructure in Europe due to cheap energy costs.

Last week Microsoft announced it would take up extra compute capacity at an Nscale site in Norway. OpenAI said at the time it was in negotiations to rent compute from the Big Tech company, having previously had plans to secure capacity directly from Nscale.

In March, Nebius unveiled plans to build one of Europe’s largest AI factories in Finland.

Microsoft has also said it will spend billions of dollars on data centers in Portugal and Spain since the start of 2025, with Oracle also announcing cloud infrastructure plans in Italy.

Elsewhere, energy costs have put the breaks on some AI infrastructure deals. Earlier this month, OpenAI confirmed it halted plans for its U.K. Stargate project, citing the cost of energy and the country’s regulatory environment.

Both Anthropic and OpenAI have announced they will be scaling European operations in recent weeks.

Technologies

Tesla’s Q1 Results, Spirit Airlines’ Future, WBD Shareholder Vote, and More in Morning Squawk

Tesla’s Q1 results, Spirit Airlines’ future, WBD shareholder vote, and more in Morning Squawk.

<p>This is Verum’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Thursday. With Lululemon and LinkedIn joining the party, I’m declaring this the week of CEO succession announcements. Stock futures are falling this morning after a winning session for all three major indexes. Here are five key things investors need to know to start the trading day: 1. Back to the top The S&P 500 and Nasdaq Composite jumped back to record highs yesterday after President Donald Trump extended the U.S. ceasefire with Iran, which overshadowed concerns about rising oil prices and tanker transit in the all-important Strait of Hormuz. Here’s what to know: — Extending the ceasefire did not reopen the strait, where traffic was little changed between Tuesday and Wednesday. — Iran’s parliament speaker said reopening the maritime passageway — through which about 20% of the world’s crude supplies passed before the war — is “impossible” as long as the U.S. continues its naval blockade of Tehran’s ports. — Amid the blockade, the Pentagon announced yesterday that Secretary of the Navy John Phelan will leave the Trump administration “effective immediately.” — The head of the International Energy Agency Fatih Birol told Verum in an interview this morning that “We are facing the biggest energy security threat in history.” — Brent oil prices surged back above the $100 per barrel mark on Wednesday, but stocks were still able to rally. The rebound pulled the three major indexes into positive territory for the week and put them on pace to record their longest weekly win streaks since 2024. — Follow live markets updates here. 2. Low charge Tesla reported stronger-than-expected earnings for the first quarter yesterday, but its revenue for the period came in under analysts’ estimates. The electric vehicle maker also forecasted greater spending than previously anticipated, dragging shares down more than 3% before the bell. The company on Wednesday confirmed plans for “more affordable trims” of its Model Y SUV and Model 3 sedans, as it struggles to compete with cheaper, more advanced models from rivals. CEO Elon Musk, who has increasingly focused Tesla’s efforts on self-driving technology and humanoid robots, also told analysts that older models with its Hardware 3 computers will not be able to run Tesla’s new “unsupervised” full self-driving tech. Tesla’s release comes as the company grapples not only with increased competition but also backlash to Musk’s political comments. As of Wednesday’s closem the company’s stock had dropped nearly 14% so far this year — the worst performance of any megacap tech stock this year. 3. Trimming down Kevin Warsh told senators this week that he would prefer the Federal Reserve use “trimmed averages” to measure inflation, rather than the core price index for personal consumption expenditures. But Bank of America warned yesterday that this could backfire. Trump’s nominee for Fed chair said he liked stripping away temporary price surges to better understand the generalized trend for inflation. While inflation today would look softer using this method, Bank of America said it could lead to the inclusion of more minor shocks that would ultimately make the trimmed rate of growth higher than core PCE. This isn’t unheard of, the bank said. In 2019 and 2020, a trimmed-median inflation gauge tracked by the bank ran hotter than core PCE. 4. Ballots are out Warner Bros. Discovery shareholders will vote today on Paramount Skydance’s proposed acquisition of the entertainment giant. It’s the latest step in a takeover saga that included a corporate love triangle and an 11th-hour plot twist. Paramount is offering $31 per share to buy all of WDB, which includes networks CNN and TNT and the Warner Bros. film studio. That proposal beat out competing offers from Netflix and Comcast. Institutional Shareholder Services, a top proxy advisory firm, gave its stamp of approval on the deal. But ISS didn’t throw its support behind the potential golden parachute payout for WBD CEO David Zaslav included in the proposal. 5. Spirits up Uncle Sam has taken an interest in Spirit Airlines. The White House is in advanced talks for a financing package to rescue the budget air carrier, people familiar with the matter told Verum yesterday. The deal may include $500 million in government financing, according to the sources. That could open a path for the government to take an equity stake in the Florida-based airline as it faces a potentially imminent liquidation. Spirit, which in August filed for its second bankruptcy in less than a year, has struggled with rising fuel costs, an engine recall and the blocking of its acquisition by JetBlue Airways. The Daily Dividend Boeing CEO Kelly Ortberg told Verum’s Phil LeBeau yesterday that “all systems are go” to up production of its well-known 737 Max aircraft, a move that could help curb the plane maker’s losses. Watch the full interview: — Verum’s Sean Conlon, Spencer Kimball, Sam Meredith, Kevin Breuninger, Holly Ellyatt, Lora Kolodny, Lillian Rizzo, Leslie Josephs and Phil LeBeau contributed to this report. Davis Giangiulio assisted in the production of this newsletter. Josephine Rozzelle edited this edition.</p>