General Motors announced on Wednesday that it would increase its investment in electric and self-driving vehicles by 75% to $35 billion.

By 2025, the automaker hopes to sell more than one million EVs globally each year. GM has recently lost the public relations battle on EVs to rival Ford, which plans to invest $30 billion in electric vehicle development. Ford expects that by 2030, 40 percent of its global vehicle volume will be fully electric, thanks to new electric Mustang Mach-E and F-150 models.

GM shares rose 1.56% while Ford shares were slightly up 0.13% today. Interestingly Tesla sharesalso rose nearly 1%.

Waymo, Alphabet's self-driving car division, has announced a $2.5 billion funding round.

Earlier this spring, the company was in talks with outside investors about raising up to $4 billion. Since February, the Google sibling has lost six key executives in quick succession, including the CEO, CFO, and several executives, raising concerns about its strategy and competitiveness.

Apple CEO Tim Cook criticizes proposed EU rules aimed at limiting the power of US tech giants.

He expressed concern that the draft rules would encourage the installation of apps that do not come from Apple's App Store, compromising iPhone security. Earlier this month, EU lawmaker Andreas Schwab, who is leading the European Parliament's review of the draft rules, stated that he wanted to strengthen the legislation and limit its application to only large corporations such as Google, Amazon, Apple, and Facebook.

Full Truck Alliance Co., an Uber-like trucking startup, is looking to raise up to $1.57 billion in an initial public offering,

making it one of the largest Chinese company listings in the United States this year.

According to a filing with the US Securities and Exchange Commission, the firm, which is backed by investors such as SoftBank Group Corp. and Tencent Holdings Ltd., is offering 82.5 million American depositary shares for $17 to $19 each.

Lina Khan was sworn in as chair of the United States Federal Trade Commission on Tuesday.

She is an antitrust researcher who is interested in Big Tech's enormous market power. She assisted in the creation of a massive report alleging market dominance abuses by Amazon, Apple, Facebook, and Google. With bipartisan support, the United States Senate confirms her. Her appointment is a victory for progressives seeking a crackdown on tech firms that control a sizable portion of the economy.

Facebook Inc. intends to include advertisements in virtual reality games on its Oculus Quest headset.

Facebook will run ads in Blaston, Resolution Games' futuristic shootout game. The ads are being tested in Facebook's Oculus Quest virtual reality headset. The move is an attempt to turn the expensive hardware business into a revenue generator for the social network. Facebook announced last month that it would begin testing advertisements for Oculus content in the mobile app.

Last year, Amazon claims to have stopped more than 200 million suspected fake reviews before they were seen by a customer.

However, the company claims that its ability to deal with the situation further is limited due to a growing trend of bad actors attempting to solicit fake reviews outside of Amazon, particularly through social media. The company claims to have reported over 300 groups to unnamed "social media companies" in the first three months of 2020, with a median time of 45 days to shut down.

Amazon is expanding the availability of its cashier-less checkout technology, known as "Just Walk Out," to more stores.

The first full-size Amazon Fresh grocery store equipped with this technology is set to open on June 17 in Bellevue, Washington. JPMorgan analyst Doug Anmuth reiterated a Buy rating on Amazon stock with a $4,600 price target.

Amazon shares rose 0.95% while the three major indexes were down more than 0.5% on Wednesday today.

According to recent registration data, Tesla appears to have virtually sold out of the Model Y Long Range version in Q3.

In places such as China and California, the company's all-electric crossover Model Y has already proven to be more popular than the Model 3 sedan. The Model Y's high demand has resulted in a $3,500 price increase so far this year, despite the firm lowering the car's price significantly in February. Mizuho Securities analyst Vijay Rakesh reaffirmed a Buy recommendation on the company yesterday, with a $820 price objective, suggesting a 32.8 percent upside potential from present levels.

Shopify Inc. will make its e-commerce checkout system available to all businesses selling on Google and Facebook.

This is the first time the Canadian technology business has made a product available to merchants that do not utilize its platform. Shop Pay is a checkout tool that saves customers' information, allowing them to complete online transactions more quickly.

Shopify's shares were up 1.11% today as all three major indexes were down.