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AI Fines, IPOs, and Big-Tech Alliances: The Latest in Tech News from OWITH.ai

AI Fines, IPOs, and Big-Tech Alliances: The Latest in Tech News from OWITH.ai

Released Thursday, 21st March 2024
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AI Fines, IPOs, and Big-Tech Alliances: The Latest in Tech News from OWITH.ai

AI Fines, IPOs, and Big-Tech Alliances: The Latest in Tech News from OWITH.ai

AI Fines, IPOs, and Big-Tech Alliances: The Latest in Tech News from OWITH.ai

AI Fines, IPOs, and Big-Tech Alliances: The Latest in Tech News from OWITH.ai

Thursday, 21st March 2024
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Good morning from OWITH.ai: the podcast that gives you only what's important to hear in AI and tech world.Google has been fined by the French competition authority for failing to comply with commitments made regarding negotiations with French news outlets over ancillary copyright fees. The fine of EUR250 million is the result of Google using content from press agencies and publishers to train its AI model without notifying them or the FCA. This is the first fine levied on an AI company for incorporating training data without transparency. Google has made changes to allow publishers to opt out of having their data used for AI training, but the legality of this practice under EU copyright law remains uncertain. Meanwhile, Apple has introduced a new generative AI model called MM1, and Meta's Threads X rival is being integrated into the Fediverse. Additionally, the EU and U.S. have agreed on security aspects of a deal allowing the European Space Agency to use SpaceX's Falcon 9 rocket to launch Galileo navigation satellites. The European launch partner Russia is no longer an option due to strained relations.The text discusses the upcoming IPOs of Reddit and Astera Labs, the first major tech IPOs of the year. Astera Labs, a semiconductor-based connectivity solutions company, raised $712.8 million for its IPO, indicating high demand. Reddit plans to price its IPO on Wednesday and trade on Thursday, selling 22 million shares at a price range of $31 to $34. Despite many companies going public in 2021 performing poorly in the aftermarket, there is optimism for the market as U.S. IPO proceeds are up 169% compared to last year. Astera Labs and Reddit are seen as important indicators of investor appetite for new issues this year. Both companies posted losses in previous quarters but swung to a profit in Q4, with Reddit going public at six times trailing sales and Astera valued at more than 40 times sales. The text also includes information about recent venture deals, private equity acquisitions, exits, and other financial transactions in various industries.In the latest issue of Lore, it was revealed that Apple has given up on building its own AI and has instead partnered with Google to power their AI efforts. This move highlights emerging big-tech alliances shaping the future of AI, including Google + Apple, Microsoft/OpenAI + possibly Amazon, Tesla + X, and Meta + IBM. Additionally, Nvidia announced the launch of their Blackwell GPU architecture, which promises significant cost and energy savings for running real-time generative AI on trillion-parameter LLMS. Other news includes Nvidia launching generative AI microservices for developers, Microsoft and Nvidia announcing major integrations for generative AI, and the need for YouTube creators to start labeling AI-generated content in their videos.Fortune's latest CEO poll, conducted in collaboration with Deloitte, shows improved CEO optimism about the global economy, with a focus on geopolitical concerns. The survey also highlights the rapid adoption of generative AI in corporate agendas. In other news, Microsoft has hired Mustafa Suleyman to run its AI operations, while the French government is protecting assets of Atos after a failed acquisition deal. Insurers and leasing companies are in a dispute over claims on foreign-owned planes stuck in Russia. Additionally, Saudi Aramco's CEO challenges the idea of phasing out oil, Unilever is spinning off its ice cream unit, and wealthy Americans are seeking second residences overseas.Microsoft has created a new unit called Microsoft AI by poaching employees from Inflection AI, where the co-founders Mustafa Suleyman and Karen previously worked. Suleyman is now the CEO of Microsoft AI, leading teams working on advertising and web

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