Sony is raising the price of its PlayStation 5 consoles by $50 each in the U.S. beginning Thursday, the company announced on Wednesday.
Why it matters: The move reflects companies starting to buckle under pressure from President Trump's tariffs, raising prices or signaling that increases are coming.
What they're saying: "Similar to many global businesses, we continue to navigate a challenging economic environment," Sony said in a blog post.
"As a result, we've made the difficult decision to increase the recommended retail price for PlayStation 5 consoles in the U.S. starting on August 21."
The recommended retail prices for PlayStation 5 accessories "remain unchanged," however.
State of play: The new prices in the U.S. range from $500 to $750.
PlayStation 5 – $549.99
PlayStation 5 Digital Edition – $499.99
PlayStation 5 Pro – $749.99
Catch up quick: The price hike wasn't totally unexpected.
Sony said in May that it was considering price hikes to cover the Trump administration's tariffs.
In April, Sony raised the price of PS5s in the UK, Europe, Australia, and New Zealand by 10 to 15%.
Sony rival Microsoft raised its U.S. Xbox prices in May by $80 to $100.
The U.S. and Chinarecently extended their tariff truce for another 90 days.
The original deal lowered U.S. tariffs on Chinese goods to 30% from 145% and restarted the flow of crucial rare earth minerals out of China.
While tech companies tout chatbots and humanoids, General Motors is using artificial intelligence in less glamorous but more practical ways to make better cars and smoother-running factories.
Why it matters: GM's AI strategy is less about sci-fi and more about wringing efficiency, safety and quality from its massive industrial footprint.
The SPAC King is back, crown dented but confidence unbowed.
Driving the news: Venture capitalist and podcaster Chamath Palihapitiya has filed to raise $250 million for a new blank-check company called American Exceptionalism Acquisition A.
The National Football League's ubiquitous — and oft-maligned — Surface tablets are getting an AI-infused upgrade, officials from the league and Microsoft tell Axios.
Why it matters: The league is trying to give coaches faster access to the data they want, while stopping short of letting the AI make decisions.
The U.S. Army tapped MSM Group North America to design, build and commission a modernized munitions factory in Iowa, a likely four-year process that promises to bolster stockpiles at home and abroad.
Why it matters: The Future Artillery Complex at the Iowa Army Ammunition Plant could pump out more than 36,000 shells per month.
Demand for ordnance, including 155mm, has skyrocketed since Russia's invasion of Ukraine in 2022.
Speed matters. Just ask Grant Demaree, the chief executive at Onebrief.
"We succeed by making military staffs superhuman — faster, smart and more efficient," he told Axios in an interview.
"Staffs with Onebrief can get their work done a bit over three times as fast as those without," he said. "I think we can enable over 100 times in the coming years."
Why he matters: Demaree is a former U.S. Army officer. Plus, his company's military workflow-and-planning software is used around the world.
