Here's your TMB Tech minute for Friday, May 3rd.

I'm Alex Osala for the Wall Street Journal.

The Biden administration has softened its proposed limits on tax credits for electric vehicles.

Consumers can get up to $7,500 for cars containing Chinese graphite through 2026.

That's a two-year extension before some of the most stringent supply chain requirements kick in.

The Treasury Department made the change as it published final rules governing the

tax credits which are designed to encourage EV production and push supply chains

for minerals and batteries into the US.

Shares of Apple ended the day up nearly 6% after its quarterly earnings reported yesterday

narrowly beat estimates and the company touted a new $110 billion buyback program.

Apple also signaled sales are likely to grow this quarter.

One thing that could help is artificial intelligence.

Analysts are increasingly optimistic that Apple's nascent AI offerings would finally bring

the tech giant into competition with major rivals and provide a much needed boost to

iPhone sales.

And shares of coin base fell nearly 2.5 percent despite posting better than expected

first quarter earnings yesterday.

The biggest cryptocurrency exchange in the U.S. earned $1.2 billion in the first quarter versus a year earlier loss of $79 million.

Quarterly revenue rose 53% to $1.64 billion from $773 billion a year ago.

Coinbase's earnings benefited from an uptick in crypto prices and trading activities during

the quarter.

They were also boosted by its adoption of a new accounting standard that allows companies holding crypto to recognize losses and gains immediately.

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