Tag: Internet Media and Services

Wall Street has turned bullish on Meta Platforms, betting that its new AI agent Muse could open a new revenue stream for the social media giant and reshape the company’s ​AI monetization prospects.

A German court has ruled that Meta is liable for fake advertisements posted by third parties on its Instagram and Facebook platforms, and ordered the U.S. tech giant to remove such content and pay damages, the court said on Thursday.

Snap on Wednesday launched its upcoming $2,195 Specs augmented reality glasses, providing insights into the eyewear’s capabilities and its new Specs Intelligence AI platform.

Nvidia’s chief executive Jensen Huang has said no new US laws or regulations are needed to control AI development, as he rejected a united push by leading labs to co-ordinate a slowdown in research in the name of safety.

Microsoft has posted a provisional code of conduct that would impose restrictions on its artificial intelligence models, days after Anthropic and OpenAI leaders agreed to slow development speed.

Meta rolled out on Tuesday a long-touted AI assistant that can autonomously send emails, sell a car and book travel on a person’s ‌behalf, despite internal concerns that the technology mismanages its access to sensitive personal data.

Google on Wednesday said it would invest at least 13 billion euros ($15.1 billion) into AI infrastructure in Finland, marking the tech giant’s largest single investment in Europe.

Alphabet’s Google on Tuesday rolled out changes to its online search results in Europe to satisfy EU antitrust regulators, a move which it said will degrade users’ experience and ​ratchet up costs for European businesses.

Trade Desk  announced Friday it’s significantly reducing its workforce. Wall Street approved the move.

ByteDance Ltd., the developer of TikTok, has secured a $29.6 billion loan, according to people familiar with the matter, in Asia’s second-largest dollar-denominated borrowing this year.

Uber Technologies said on Wednesday it will cut about 3,300 jobs, or roughly 10% of its workforce, in a restructuring aimed at removing management layers, consolidating teams and reducing costs.

Berkshire took a $10 billion stake in Google 15 months ago at a 6.5% discount, CEO Greg Abel said to CNBC’s Becky Quick.

Nvidia on Wednesday forecast a 70% ​jump in revenue next fiscal year, underscoring unabated demand for AI computing, while warning that shortages of memory components would continue to curb how ‌quickly it can expand.

Meta Platforms will pay up to $18 billion over the next decade and strictly limit how teenagers use Facebook and Instagram under an agreement with nearly all U.S. states to resolve claims it designed those social media platforms to addict children.

Meta Platforms and state attorneys general have discussed a potential mid-trial settlement of a lawsuit accusing the company of deliberately ​designing Facebook and Instagram to be addictive to young users, Bloomberg ‌News reported on Tuesday, citing people familiar with the matter.

Meta Platforms rejected accusations by U.S. states that it intentionally sought to addict children to its Facebook and Instagram platforms in pursuit of profit, at the start of a trial that could reshape ​some of the most popular apps on the planet.

Alphabet has raised A$5.5 billion ($3.89 billion) via its inaugural Australian dollar debt issuance, according to a term sheet seen by Reuters, adding to the hectic pace of fundraising by global tech companies.

Meta will face off against attorneys general from several states in an Oakland, Calif., courtroom Tuesday as part of a major lawsuit alleging that the company violated child safety and consumer protection laws and harmed children’s mental health.

Reddit shares rose 11% in extended trading on Thursday on the social media company’s inclusion in the S&P 500.

Trade Desk stock slumped 28% in premarket trading after the advertising technology company reported second-quarter revenue that fell short of expectations.