Bitcoin "vaulted to a fresh all-time high Friday, breaking above $118,000," reports Yahoo Finance: Year to date, the token is up roughly 21%, buoyed in part by crypto-friendly policies from the Trump administration, including the establishment of a strategic bitcoin reserve and a broader digital asset stockpile... "At the heart of this rally lies sustained structural inflows from institutional players," wrote Dilin Wu, research strategist at Pepperstone. "Corporates are also ramping up participation," he added. The analyst noted companies like Strategy and GameStop have continued to add bitcoin to their balance sheets. Trump Media & Technology Group this week also filed for approval to launch a "Crypto Blue Chip ETF", which would include about 70% of its holdings in bitcoin.

The timing of bitcoin's breakout also comes days before Congress kicks off its highly anticipated "Crypto Week" on July 14. Lawmakers will debate a series of bills that could define the industry's regulatory framework... The GENIUS Act is among the regulations the House will consider. The bill, which recently passed through the Senate, proposes a federal framework for stablecoins.
"After jumping above $118,000 on Thursday, technical analyst Katie Stockton, founder and managing partner of research firm Fairlead Strategies, believes bitcoin is on track to reach $134,500, about 14% higher than current levels," writes Business Insider . It's not just bitcoin that's jumped this week. Other cryptos are surging as well. Ethereum has rallied over 16% in the past five days, and as DOGE rose 8% in the last day alone... Additionally, over $1 billion in short positions were liquidated in the last 24 hours as the price of bitcoin surged and traders were forced to close their positions, [said Thomas Perfumo, global economist at crypto Kraken].

Microsoft is keen to show employees how much AI is transforming its own workplace, even as the company terminates thousands of personnel. From a report: During a presentation this week, Chief Commercial Officer Judson Althoff said artificial intelligence tools are boosting productivity in everything from sales and customer service to software engineering, according to a person familiar with his remarks.

Althoff said AI saved Microsoft more than $500 million last year in its call centers alone and increased both employee and customer satisfaction, according to the person, who requested anonymity to discuss an internal matter. The company is also starting to use AI to handle interactions with smaller customers, Althoff said. This effort is nascent, but already generating tens of millions of dollars, he said.

Meta has acquired a $3.5 billion stake in Ray-Ban maker EssilorLuxottica, "a deal that increases the U.S. tech giant's financial commitment to the fast-growing smart glasses industry," reports Bloomberg. From the report: Meta's investment in the eyewear giant deepens the relationship between the two companies, which have partnered over the past several years to develop AI-powered smart glasses. Meta currently sells a pair of Ray-Ban glasses, first debuted in 2021, with built-in cameras and an AI assistant. Last month, it launched separate Oakley-branded glasses with EssilorLuxottica. EssilorLuxottica Chief Executive Officer Francesco Milleri said last year that Meta was interested in taking a stake the company, but that plan hadn't materialized until now.

The deal aligns with Meta CEO Mark Zuckerberg's commitment to AI, which has become a top priority and major expense for the company. Smart glasses are a key part of that plan. While Meta has historically had to deliver its apps and services via smartphones created by competitors, glasses offer Meta a chance to build its own hardware and control its own distribution, Zuckerberg has said. The arrangement gives Meta the advantage of having more detailed manufacturing knowledge and global distribution networks, fundamental to turning its smart glasses into mass-market products. For EssilorLuxottica, the deal provides a deeper presence in the tech world, which would be helpful if Meta's futuristic bets pay off. Meta is also betting on the idea that people will one day work and play while wearing headsets or glasses.

Intel is laying off over 500 employees in Oregon as part of a broader restructuring plan expected to impact about 20% of its workforce. Bloomberg reports: The Oregon job reduction will hit facilities in Aloha and Hillsboro starting on July 15, Intel said in a regulatory filing. The layoffs are expected to eliminate about 529 employees on a permanent basis. The latest disclosure follows an announcement in California, where 107 employees were let go at Intel's Santa Clara headquarters.

Under new Chief Executive Officer Lip-Bu Tan, Intel embarked on a plan in April to slash jobs and reduce operating expenses. The company hasn't given a total figure for the cuts, but a person familiar with the matter has put the amount at more than a fifth of staff. In a statement, Intel said it was making the Oregon cuts to become "a leaner, faster and more efficient company."

"Removing organizational complexity and empowering our engineers will enable us to better serve the needs of our customers and strengthen our execution," the company said. "We are making these decisions based on careful consideration of what's needed to position our business for the future, and we will treat people with care and respect as we complete this important work."

Wimbledon's use of AI-powered electronic line-calling has sparked backlash from players who say the system made several incorrect calls, affecting match outcomes and creating accessibility issues. "This is the first year the prestigious tennis tournament, which is still ongoing, replaced human line judges, who determine if a ball is in or out, with an electronic line calling system (ELC)," notes TechCrunch. From the report: British tennis star Emma Raducanu called out the technology for missing a ball that her opponent hit out, but instead had to be played as if it were in. On a television replay, the ball indeed looked out, the Telegraph reported. Jack Draper, the British No. 1, also said he felt some line calls were wrong, saying he did not think the AI technology was "100 percent accurate."

Player Ben Shelton had to speed up his match after being told that the new AI line system was about to stop working because of the dimming sunlight. Elsewhere, players said they couldn't hear the new automated speaker system, with one deaf player saying that without the human hand signals from the line judges, she was unable to tell when she won a point or not.

The technology also met a blip at a key point during a match this weekend between British player Sonay Kartal and the Russian Anastasia Pavlyuchenkova, where a ball went out, but the technology failed to make the call. The umpire had to step in to stop the rally and told the players to replay the point because the ELC failed to track the point. Wimbledon later apologized, saying it was a "human error," and that the technology was accidentally shut off during the match. It also adjusted the technology so that, ideally, the mistake could not be repeated.

Debbie Jevans, chair of the All England Club, the organization that hosts Wimbledon, hit back at Raducanu and Draper, saying, "When we did have linesmen, we were constantly asked why we didn't have electronic line calling because it's more accurate than the rest of the tour."

An anonymous reader shares a report: Delhi's government has been forced to reverse a controversial plan to effectively ban older vehicles from city roads after public backlash and concerns over how the policy would be implemented.

The plan would have seen "end of life vehicles" -- petrol cars over 15 years old and diesel vehicles over 10 -- denied fuel at petrol stations using automatic number plate recognition cameras, or ANPR, and, potentially, impounded on the spot.

The policy was set to come into effect this week but state environment minister Manjinder Singh Sirsa said last week the government would halt the plan following widespread complaints. Mr Sirsa said the administration would not allow vehicles to be seized and cited "technological integration challenges" and a lack of coordination with neighbouring states sharing traffic with the capital.

President Donald Trump's administration plans to restrict shipments of AI chips from the likes of Nvidia to Malaysia and Thailand, part of an effort to crack down on suspected semiconductor smuggling into China. Bloomberg: A draft rule from the Commerce Department seeks to prevent China -- to which the US has effectively banned sales of Nvidia's advanced AI processors -- from obtaining those components through intermediaries in the two Southeast Asian nations, according to people familiar with the matter. The rule is not yet finalized and could still change, said the people, who requested anonymity to discuss private conversations.

Officials plan to pair the Malaysia and Thailand controls with a formal rescission of global curbs from the so-called AI diffusion rule, the people said.

Citigroup spent over $9 billion on technology and communications last year, almost a fifth of total operating expenses and a larger proportion than competitors, as the bank works to fix legacy software systems that have produced costly errors including accidentally wiring more than $900 million to Revlon creditors.

The bank has consolidated 12 international sanctions screening systems into one platform, retired 20 cash equities platforms and launched a replacement, and automated high-risk processes where "fat-finger" errors previously occurred. Recent mistakes included crediting one account with $81 trillion after an employee failed to remove zeros from an electronic form and a copy-paste error that almost missent $6 billion.

Oracle has signed a landmark $30 billion annual cloud deal -- nearly triple the size of its current cloud infrastructure business -- with revenue expected to begin in fiscal year 2028. The deal was disclosed in a regulatory filing Monday without the customer being named. Bloomberg reports: "Oracle is off to a strong start" in its fiscal year 2026, Chief Executive Officer Safra Catz said in the filing. The company has signed "multiple large cloud services agreements," she said, adding that revenue from Oracle's namesake database that runs on other clouds continues to grow more than 100%.

The $30-billion deal ranks among the largest cloud contracts on record. That revenue alone would represent nearly three times the size of Oracle's current infrastructure business, which totaled $10.3 billion over the past four quarters. A major cloud contract awarded in 2022 from the US Defense Department, that runs through 2028 and could be worth as much as $9 billion, is split among four companies, including Oracle. That award was a shift after an earlier contract worth $10 billion was awarded to Microsoft and was contested in court.

Salesforce chief executive Marc Benioff said Thursday his company has automated a significant chunk of work with AI, another example of a firm touting labor-replacing potential of the emerging technology. From a report: "AI is doing 30% to 50% of the work at Salesforce now," Benioff said in an interview, pointing at job functions including software engineering and customer service.

[...] Salesforce has said that use of AI internally has allowed it to hire fewer people. The San Francisco-based software company is focused on selling an AI product that promises to handle tasks such as customer service without human supervision. Benioff said that tool has reached about 93% accuracy, including for large customers such as Walt Disney.

China's advantages in developing AI are about to unleash a wave of innovation that will generate more than 100 DeepSeek-like breakthroughs in the coming 18 months, according to a former top official. From a report: The new software products "will fundamentally change the nature and the tech nature of the whole Chinese economy," Zhu Min, who was previously a deputy governor of the People's Bank of China, said during the World Economic Forum in Tianjin on Tuesday.

Zhu, who also served as the deputy managing director at the International Monetary Fund, sees a transformation made possible by harnessing China's pool of engineers, massive consumer base and supportive government policies. The bullish take on China's AI future promises no letup in the competition for dominance in cutting-edge technologies with the US, just as the world's two biggest economies are also locked in a trade war.

Perched in Chile's Andes mountains, "A revolutionary new space telescope has just taken its first pictures of the cosmos," reports National Geographic — "and they're spectacular." Formerly known as the Large Synoptic Survey Telescope, it's expected to bring "unprecedented detail" to space photography: The observatory has a few key components: A giant telescope, called the Simonyi Survey Telescope, is connected to the world's largest and highest resolution digital camera. Rubin's 27-foot primary mirror, paired with a mind-boggling 3,200-megapixel camera, will repeatedly take 30-second exposure images of vast swaths of the sky with unrivaled speed and detail. Each image will cover an area of sky as big as 40 full moons. Every three nights for the next 10 years, Rubin will produce a new, ultra-high-definition map of the entire visible southern sky. With this much coverage, scientists hope to create an updated and detailed "movie" they can use to view how the cosmos changes over time....

For the next decade, Rubin will capture millions of astronomical objects each day — or more than 100 every second. Ultimately, it's expected to discover about 17 billion stars and 20 billion galaxies that we've never seen before... When the observatory begins science operations in earnest later in 2025, its instruments will yield a deluge of astronomical data that will be too overwhelming to process manually. (Each night, the observatory will generate around 20 terabytes of data.) Astronomers expect high-quality observations taken with the telescope will help map out the structure of the universe, find comets and potentially hazardous asteroids in our solar system, and detect exploding stars and black holes in distant galaxies.

The observatory will also examine the optical counterparts of gravitational wave events — ripples in the fabric of space caused by some of the most energetic processes in the cosmos. By studying these events, astronomers hope to uncover the secrets of the invisible forces that shape the universe like dark matter and dark energy.
"Already, in just over 10 hours of test observations, the observatory has discovered 2,104 never-before-seen-asteroids," reports NPR, "including seven near-Earth asteroids, none of which pose any danger..." The basic idea is that the data "should let astronomers catch transient phenomena that they otherwise wouldn't know to look for, such as exploding stars, asteroids, interstellar objects whizzing in from other solar systems, and maybe even the movement of a giant planet that some believe is lurking out in our own solar system, beyond Pluto."

The telescope is a joint project between the U.S. Energy Department and its National Science Foundation — and it will stream a special live broadcast of its first images today at 11 a.m. EDT (1500 GMT) on their official YouTube channel (also simulacast at Space.com).

With no one behind the steering wheel, a Tesla robotaxi passes Guero's Taco Bar in Austin Texas, making a right turn onto Congress Avenue.

Today is the day Austin became the first city in the world to see Tesla's self-driving robotaxi service, reports The Guardian: Some analysts believe that the robotaxis will only be available to employees and invitees initially. For the CEO, Tesla's rollout is slow. "We could start with 1,000 or 10,000 [robotaxis] on day one, but I don't think that would be prudent," he told CNBC in May. "So, we will start with probably 10 for a week, then increase it to 20, 30, 40."

The billionaire has said the driverless cars will be monitored remotely... [Posting on X.com] Musk said the date was "tentatively" 22 June but that this launch date would be "not real self-driving", which would have to wait nearly another week... Musk said he planned to have one thousand Tesla robotaxis on Austin roads "within a few months" and then he would expand to other cities in Texas and California.
Musk posted on X that riders on launch day would be charged a flat fee of $4.20, according to Reuters. And "In recent days, Tesla has sent invites to a select group of Tesla online influencers for a small and carefully monitored robotaxi trial..." As the date of the planned robotaxi launch approached, Texas lawmakers moved to enact rules on autonomous vehicles in the state. Texas Governor Greg Abbott, a Republican, on Friday signed legislation requiring a state permit to operate self-driving vehicles. The law does not take effect until September 1, but the governor's approval of it on Friday signals state officials from both parties want the driverless-vehicle industry to proceed cautiously... The law softens the state's previous anti-regulation stance on autonomous vehicles. A 2017 Texas law specifically prohibited cities from regulating self-driving cars...

The law requires autonomous-vehicle operators to get approval from the Texas Department of Motor Vehicles before operating on public streets without a human driver. It also gives state authorities the power to revoke permits if they deem a driverless vehicle "endangers the public," and requires firms to provide information on how police and first responders can deal with their driverless vehicles in emergency situations. The law's requirements for getting a state permit to operate an "automated motor vehicle" are not particularly onerous but require a firm to attest it can safely operate within the law... Compliance remains far easier than in some states, most notably California, which requires extensive submission of vehicle-testing data under state oversight.
Tesla "planned to operate only in areas it considered the safest," according to the article, and "plans to avoid bad weather, difficult intersections, and will not carry anyone below the age of 18."

More details from UPI: To get started using the robotaxis, users must download the Robotaxi app and use their Tesla account to log in, where it then functions like most ridesharing apps...

"Riders may not always be delivered to their intended destinations or may experience inconveniences, interruptions, or discomfort related to the Robotaxi," the company wrote in a disclaimer in its terms of service. "Tesla may modify or cancel rides in its discretion, including for example due to weather conditions." The terms of service include a clause that Tesla will not be liable for "any indirect, consequential, incidental, special, exemplary, or punitive damages, including lost profits or revenues, lost data, lost time, the costs of procuring substitute transportation services, or other intangible losses" from the use of the robotaxis.
Their article includes a link to the robotaxi's complete Terms of Service: To the fullest extent permitted by law, the Robotaxi, Robotaxi app, and any ride are provided "as is" and "as available" without warranties of any kind, either express or implied... The Robotaxi is not intended to provide transportation services in connection with emergencies, for example emergency transportation to a hospital... Tesla's total liability for any claim arising from or relating to Robotaxi or the Robotaxi app is limited to the greater of the amount paid by you to Tesla for the Robotaxi ride giving rise to the claim, and $100... Tesla may modify these Terms in our discretion, effective upon posting an updated version on Tesla's website. By using a Robotaxi or the Robotaxi app after Tesla posts such modifications, you agree to be bound by the revised Terms.

As recently as 2021, GM "all but eliminated" hybrids from its future product plans, reports the New York Times. "But then a funny thing happened." Car shoppers balked at the high prices of fully electric models and the challenges of charging them. In the last few years, sales of electric vehicles have grown at a much slower rate than automakers once expected. And hybrids have stepped in to fill the gap, accounting for a large and growing share of new car sales... In the first three months of this year, hybrids — including cars that can and cannot be plugged in — made up about 14 percent of all light vehicles sold in the United States, according to the Department of Energy. That was around twice the market share of fully electric vehicles in that period...

Several automakers are slowing the introduction of new electric vehicles, and have accelerated development of new hybrids.
Robb Report looks at the current status of hybrids — and a possible future: "The charging infrastructure in most countries is not yet mature enough to support convenient mass adoption of battery-electric vehicles, and in some territories never will be," says Jonathan Hall, head of research and advanced engineering at U.K.-based consulting group Mahle Powertrain....

Porsche, active in this space since 2010, just hybridized its iconic 911 for this model year. Lamborghini also joined the trend with the debut of its 1,000 hp Revuelto hybrid in 2023. "The company doesn't plan to give up the internal-combustion engine anytime soon," says CTO Rouven Mohr. "We are also considering synthetic fuels to keep ICE vehicles running after 2030."

Hall concurs: "With the emergence of bio-based and even fully synthetic fuels, the link between the ICE and climate change can be broken." Combined with the development of better batteries, this progressive hybrid model could offer the best of both worlds for years to come.

It's not just Amazon's CEO predicting AI will lower their headcount. "Top executives at some of the largest American companies have a warning for their workers: Artificial intelligence is a threat to your job," reports the Washington Post — including IBM, Salesforce, and JPMorgan Chase.

But are they really just trying to impress their shareholders? Economists say there aren't yet strong signs that AI is driving widespread layoffs across industries.... CEOs are under pressure to show they are embracing new technology and getting results — incentivizing attention-grabbing predictions that can create additional uncertainty for workers. "It's a message to shareholders and board members as much as it is to employees," Molly Kinder, a Brookings Institution fellow who studies the impact of AI, said of the CEO announcements, noting that when one company makes a bold AI statement, others typically follow. "You're projecting that you're out in the future, that you're embracing and adopting this so much that the footprint [of your company] will look different."

Some CEOs fear they could be ousted from their job within two years if they don't deliver measurable AI-driven business gains, a Harris Poll survey conducted for software company Dataiku showed. Tech leaders have sounded some of the loudest warnings — in line with their interest in promoting AI's power...

IBM, which recently announced job cuts, said it replaced a couple hundred human resource workers with AI "agents" for repetitive tasks such as onboarding and scheduling interviews. In January, Meta CEO Mark Zuckerberg suggested on Joe Rogan's podcast that the company is building AI that might be able to do what some human workers do by the end of the year.... Marianne Lake, JPMorgan's CEO of consumer and community banking, told an investor meeting last month that AI could help the bank cut headcount in operations and account services by 10 percent. The CEO of BT Group Allison Kirkby suggested that advances in AI would mean deeper cuts at the British telecom company...

Despite corporate leaders' warnings, economists don't yet see broad signs that AI is driving humans out of work. "We have little evidence of layoffs so far," said Columbia Business School professor Laura Veldkamp, whose research explores how companies' use of AI affects the economy. "What I'd look for are new entrants with an AI-intensive business model, entering and putting the existing firms out of business." Some researchers suggest there is evidence AI is playing a role in the drop in openings for some specific jobs, like computer programming, where AI tools that generate code have become standard... It is still unclear what benefits companies are reaping from employees' use of AI, said Arvind Karunakaran, a faculty member of Stanford University's Center for Work, Technology, and Organization. "Usage does not necessarily translate into value," he said. "Is it just increasing productivity in terms of people doing the same task quicker or are people now doing more high value tasks as a result?"

Lynda Gratton, a professor at London Business School, said predictions of huge productivity gains from AI remain unproven. "Right now, the technology companies are predicting there will be a 30% productivity gain. We haven't yet experienced that, and it's not clear if that gain would come from cost reduction ... or because humans are more productive."
On an earnings call, Salesforce's chief operating and financial officer said AI agents helped them reduce hiring needs — and saved $50 million, according to the article. (And Ethan Mollick, co-director of Wharton School of Business' generative AI Labs, adds that if advanced tools like AI agents can prove their reliability and automate work — that could become a larger disruptor to jobs.) "A wave of disruption is going to happen," he's quoted as saying.

But while the debate continues about whether AI will eliminate or create jobs, Mollick still hedges that "the truth is probably somewhere in between."

Austria's coalition government has agreed on a plan to enable police to monitor suspects' secure messaging in order to thwart militant attacks, ending what security officials have said is a rare and dangerous blind spot for a European Union country. From a report: Because Austria lacks a legal framework for monitoring messaging services like WhatsApp, its main domestic intelligence service and police rely on allies with far more sweeping powers like Britain and the United States alerting them to chatter about planned attacks and spying.

That kind of tip-off led to police unravelling what they say was a planned attack on a Taylor Swift concert in Vienna, which prompted the cancellation of all three of her planned shows there in August of last year. "The aim is to make people planning terrorist attacks in Austria feel less secure - and increase everyone else's sense of security," Joerg Leichtfried of the Social Democrats, the junior minister in charge of overseeing the Directorate for State Security and Intelligence (DSN), told a news conference.

Microsoft is planning to ax thousands of jobs, particularly in sales, as part of the company's latest move to trim its workforce amid heavy spending on AI. From a report: The cuts are expected to be announced early next month [non-paywalled source], following the end of Microsoft's fiscal year, according to people familiar with the matter. The reductions won't exclusively affect sales teams, and the timing could still change, said the people, who requested anonymity to discuss a private matter. The terminations would follow a previous round of layoffs in May that hit 6,000 people and fell hardest on product and engineering positions, largely sparing customer-facing roles like sales and marketing.

A Dutch court on Monday confirmed a 2021 consumer watchdog's ruling saying that Apple had abused its dominant position by imposing unfair conditions on providers of dating apps in the App Store. From a report: The Rotterdam District Court ruled that the Dutch Authority for Consumers and Markets (ACM) was therefore right to impose an order subject to a penalty for non-compliance. The court ruled that ACM was right in finding that dating app providers had to use Apple's own payment system, were not allowed to refer to payment options outside the App Store, and had to pay a 30% commission (15% for small providers) to Apple.

An anonymous reader shared this report from Bloomberg: Amazon's hard-line stance on getting disabled employees to return to the office has sparked a backlash, with workers alleging the company is violating the Americans with Disabilities Act as well as their rights to collectively bargain. At least two Amazon employees have filed complaints with the Equal Employment Opportunity Commission (EEOC) and the National Labor Relations Board, federal agencies that regulate working conditions. One of the workers said they provided the EEOC with a list of 18 "similarly situated" employees to emphasize that their experience isn't isolated and to help federal regulators with a possible investigation.

Disabled workers frustrated with how Amazon is handling their requests for accommodations — including exemptions to a mandate that they report to the office five days a week — are also venting their displeasure on internal chat rooms and have encouraged colleagues to answer surveys about the policies. Amazon has been deleting such posts and warning that they violate rules governing internal communications. One employee said they were terminated and another said they were told to find a different position after advocating for disabled workers on employee message boards. Both filed complaints with the EEOC and NLRB.
Amazon has told employees with disabilities they must now submit to a "multilevel leader review," Bloomberg reported in October, "and could be required to return to the office for monthlong trials to determine if accommodations meet their needs." (They received calls from "accommodation consultants" who also reviewed medical documentation, after which "another Amazon manager must sign off. If they don't, the request goes to a third manager...")

Bloomberg's new article remembers how several employees told them in November. "that they believed the system was designed to deny work-from-home accommodations and prompt employees with disabilities to quit, which some have done. Amazon denied the system was designed to encourage people to resign." Since then, workers have mobilized against the policy. One employee repeatedly posted an online survey seeking colleagues' reactions, defying the company's demands to stop. The survey ultimately generated feedback from more than 200 workers even though Amazon kept deleting it, and the results reflected strong opposition to Amazon's treatment of disabled workers. More than 71% of disabled Amazon employees surveyed said the company had denied or failed to meet most of their accommodation requests, while half indicated they faced "hostile" work environments after disclosing their disabilities and requesting accommodations.

One respondent said they sought permission to work from home after suffering multiple strokes that prevented them from driving. Amazon suggested moving closer to the office and taking mass transit, the person said in the survey. Another respondent said they couldn't drive for longer than 15-minute intervals due to chronic pain. Amazon's recommendation was to pull over and stretch during their commute, which the employee said was unsafe since they drive on a busy freeway... Amazon didn't dispute the accounts and said it considered a range of solutions to disability accommodations, including changes to an employee's commute.
Amazon is also "using AI to parse accommodation requests, read doctors' notes and make recommendations based on keywords," according to the article — another policy that's also generated internal opposition (and formed a "key element" of the complaint to the Equal Employment Opportunity Commission).

"The dispute could affect thousands of Amazon workers. An internal Slack channel for employees with disabilities has 13,000 members, one of the people said..."

"Cooper Taylor is only 17 years old, but he's already trying to revolutionize the drone industry," writes Business Insider: His design makes the drone more efficient, customizable, and less expensive to construct, he says. He's built six prototypes, 3D printing every piece of hardware, programming the software, and even soldering the control circuit board. He says building his drone cost one-fifth of the price of buying a comparable machine, which sells for several thousand dollars. Taylor told Business Insider he hopes that "if you're a first responder or a researcher or an everyday problem solver, you can have access to this type of drone."

His innovation won him an $8,000 scholarship in April at the Junior Science and Humanities Symposium, funded by the Defense Department. Then, on May 16, he received an even bigger scholarship of $15,000 from the US Navy, which he won after presenting his research at the Regeneron International Science and Engineering Fair...

It all started when Taylor's little sister got a drone, and he was disappointed to see that it could fly for only about 30 minutes before running out of power. He did some research and found that a vertical take-off and landing, or VTOL, drone would last longer. This type of drone combines the multi-rotor helicopter style with the fixed wings of an airplane, making it extremely versatile. It lifts off as a helicopter, then transitions into plane mode. That way, it can fly farther than rotors alone could take it, which was the drawback to Taylor's sister's drone. Unlike a plane-style drone, though, it doesn't need a runway, and it can hover with its helicopter rotors.
Taylor designed a motor "that could start out helicopter-style for liftoff, then tilt back to become an airplane-style motor," according to the article.

And now this summer he'll be "working on a different drone project through a program with the Reliable Autonomous Systems Lab at the Massachusetts Institute of Technology."

Thanks to Slashdot reader Agnapot for sharing the news.