Meta Platforms

Meta oversight board reviews handling of AI-created celebrity porn

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Meta oversight board reviews handling of AI-created celebrity porn

Meta Platforms’ Oversight Board is reviewing the company’s handling of sexually explicit AI-generated images of female celebrities on Facebook and Instagram. The board aims to evaluate Meta’s policies and enforcement practices around pornographic fakes created using artificial intelligence. The images were not named to prevent further harm, as advances in AI technology have made fake content indistinguishable from real content, leading to an increase in sexual fakes online. Elon Musk’s social media platform also faced challenges with controlling the spread of fake explicit images of Taylor Swift. Industry executives are calling for legislation to criminalize harmful “deep fakes.” One case involved an AI-generated image of a nude woman resembling a public figure from India on Instagram, while the other featured an AI-generated depiction of a nude woman resembling an American public figure on Facebook. Meta initially left up the image of the Indian woman but reversed course after the board selected it for review. Meta has pledged to implement the board’s decisions.

Telegram platform to hit 1 bln users within year, founder says

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Telegram platform to hit 1 bln users within year, founder says

The Telegram messaging app is expected to reach 1 billion active monthly users within a year, according to its founder Pavel Durov. The app, which aims to remain neutral and not involved in geopolitics, has become a crucial tool for both governments and individuals during the Russia-Ukraine conflict, despite criticism for spreading misinformation.

Nvidia stock value up $1 trln in Q1

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Nvidia stock value up $1 trln in Q1

Nvidia ended 2023 as the best S&P 500 performer with a 236% gain. In the first three months of 2024, Nvidia added over one trillion dollars to its stock value, surpassing its gains in the entire previous year. Nvidia’s stock value growth in Q1 2024 was larger than that of Microsoft, Alphabet, and Meta combined. Nvidia is now the third-largest tech company in the world by market cap and could potentially dethrone Apple as the second-largest tech company if its stock value continues to grow at the same pace.

US lawmakers strike deal on data privacy legislation

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US lawmakers strike deal on data privacy legislation

Two key U.S. lawmakers reached a deal on draft bipartisan data privacy legislation that would restrict the data collected by technology companies and give Americans control over their personal information. The legislation would also allow individuals to prevent the selling of their personal data and compel its deletion. The bill would give the Federal Trade Commission and state attorneys general authority to oversee consumer privacy issues and establish enforcement mechanisms. The legislation does not ban targeted advertising but gives consumers the ability to opt out of it. The bill also includes provisions for fines for privacy violations and annual reviews of algorithms to ensure they do not harm individuals.

Nvidia stock climbs as CFO says new chip to ship in 2024

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Nvidia stock climbs as CFO says new chip to ship in 2024

Nvidia’s stock increased by nearly 2% to 1 after announcements at their annual developer conference in San Jose, California. The company revealed its new flagship AI processor, Blackwell, expected to ship later this year, with CEO Jensen Huang highlighting a potential data center market worth over 0 billion. Nvidia is transitioning from selling individual chips to complete systems to capture a larger share of data center spending. The Blackwell processor, developed in collaboration with TSMC to avoid previous bottlenecks, is claimed to be 30 times faster at certain tasks than its predecessor and is priced between ,000 and ,000. Nvidia is also working with Samsung Electronics and SK Hynix on high bandwidth memory chips, with SK Hynix beginning mass production of HBM3E chips for Nvidia. Over the past 12 months, Nvidia’s stock has more than tripled, making it the third-most valuable company in the US stock market. Despite a high valuation, analysts have raised their future earnings estimates for Nvidia, with major customers like Amazon, Google, Meta Platforms, Microsoft, OpenAI, and Tesla expected to use the new chip. Morningstar analysts predict Nvidia will maintain its “best-of-breed” status in the AI industry and have increased their revenue forecasts for the company’s data center business.

US takes on Apple in major antitrust lawsuit

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US takes on Apple in major antitrust lawsuit

The U.S. Department of Justice and 15 states, along with the District of Columbia, filed a lawsuit against Apple, accusing it of using its market power to drive up prices and harm smaller competitors. This marks a significant antitrust action by the Biden administration against Apple, which joins other major tech companies like Google, Meta Platforms, and Amazon that have faced similar lawsuits. The lawsuit alleges that Apple’s practices result in higher prices for consumers, developers, content creators, artists, publishers, small businesses, and merchants. Filed in U.S. federal court in Newark, New Jersey, the 88-page lawsuit aims to address Apple’s alleged anticompetitive behavior, particularly concerning its App Store’s commission fees and restrictions on third-party access to iPhone’s hardware and services. Apple has faced antitrust scrutiny and legal challenges in other regions, including Europe, Japan, and Korea, as well as from corporate rivals like Epic Games. Despite a legal challenge from Epic, Apple’s App Store commission structure has largely remained intact in the U.S., though a federal judge ordered Apple to allow alternative payment methods within apps. In response to new legislation in Europe, Apple plans to allow developers to offer their own app stores without commissions, though this move has faced criticism. The lawsuit also highlights complaints from consumer hardware firms about restricted access to iPhone’s sensors and chips, exemplified by Apple’s AirTags product and its exclusive control over contactless payment additions through Apple Pay. Apple defends its practices by citing privacy and security reasons.

Apple accused of monopolising smartphone markets in US antitrust lawsuit

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Apple accused of monopolising smartphone markets in US antitrust lawsuit

The U.S. Department of Justice and 15 states filed a lawsuit against Apple, accusing the company of using its market dominance to inflate prices for its services and suppress smaller competitors. This legal action is part of a broader U.S. effort to regulate major technology companies. The lawsuit aims to challenge Apple’s business practices, which have historically involved charging premium prices for technology products and controlling the user experience. The Justice Department’s complaint focuses on restoring competition in the smartphone market, reducing prices for consumers, lowering fees for developers, and encouraging innovation. The lawsuit cites instances where Apple allegedly hindered competition, including issues related to messaging apps, smartwatches, and digital wallets. The Justice Department also referenced an email from Apple co-founder Steve Jobs indicating an intent to lock in developers and consumers to Apple’s payment systems. Apple responded by defending its business model, emphasizing the integration of hardware, software, and services in its products. The complaint seeks to prevent Apple from using its control over app distribution and other means to disadvantage rivals. Apple has faced similar antitrust challenges in Europe, Japan, Korea, and from companies like Epic Games. The U.S. Justice Department expressed confidence in its case, while Apple has argued that its restrictions on third-party developers are for privacy and security reasons. However, the Justice Department contends that Apple’s actions have sometimes reduced privacy and security. In Europe, new legislation has forced Apple to allow developers to offer their own app stores without paying commissions, although challenges remain in implementing alternative app stores. The lawsuit also examines Apple’s practices concerning hardware access and services like Apple Pay and iMessage.

Reddit, ’s IPO as much as five times oversubscribed, according to sources

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Reddit, ’s IPO as much as five times oversubscribed, according to sources

Reddit’s initial public offering (IPO) is between four and five times oversubscribed, indicating a high demand for its shares. The company aims for a .5 billion valuation and expects to price its shares between to during the IPO in New York. Reddit has adjusted its valuation expectations from a billion private fundraising round in 2021 to seeking to raise up to 8 million through the IPO. Despite never having been profitable since its 2005 launch and facing challenges with advertiser appeal due to its content moderation practices, Reddit has a loyal user base. The platform is known for its role in the 2021 “meme-stock” saga and has reserved 8% of its IPO shares for its users and moderators, among others. As of December 31, 2023, Reddit reported an average of 73.1 million daily active users.

Turkey moves against Meta over Threads-Instagram data sharing

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Turkey moves against Meta over Threads-Instagram data sharing

Turkey’s competition authority imposed an interim measure on Meta Platforms Inc to prevent data sharing between Instagram and Threads during an investigation into potential abuse of market dominance. The investigation, launched in December, examines Meta’s linking of Instagram and Threads for possible competition law violations. The interim measure aims to prevent irreparable market damage until a final decision is reached. Additionally, Meta was fined 4.8 million lira (8,000) daily in a separate case for insufficiently transparent user notifications about data sharing between Facebook, Instagram, and WhatsApp. The notifications were criticized for not adequately addressing anti-competition concerns.

TikTok, ’s US revenue hits $16 bln as Washington threatens ban

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TikTok, ’s US revenue hits $16 bln as Washington threatens ban

ByteDance, the owner of TikTok, reported a revenue of about billion from TikTok in the United States last year. ByteDance’s total revenue in 2023 was 0 billion, marking a 40% increase from the previous year. TikTok, which is used by about 170 million Americans, saw record sales in the United States in 2023. ByteDance is anticipated to surpass Meta Platforms as the world’s largest social media company by sales. Meta’s revenue in 2023 increased by 16% to 4.90 billion. The US House of Representatives passed a bill that could lead to a ban on TikTok if ByteDance does not divest its US assets within six months. TikTok was the most downloaded social media app in the United States in 2023, with 47 million downloads, followed by Facebook and Instagram with 35 million and 34 million downloads, respectively.