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☆ Amazon is ‘investing heavily’ in the technology behind ChatGPT
▼ + stars: | 2023-04-13 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +4 min

CNN —Amazon wants investors to know it won’t be left behind in the latest Big Tech arms race over artificial intelligence. In a letter to shareholders Thursday, Amazon (AMZN) CEO Andy Jassy said the company is “investing heavily” in large language models (LLMs) and generative AI, the same technology that underpins ChatGPT and other similar AI chatbots. Since ChatGPT was released to the public in late November, Google (GOOG), Facebook (FB) and Microsoft (MSFT) have all talked up their growing focus on generative AI technology, which can create compelling essays, stories and visuals in response to user prompts. With that in mind, Amazon on Thursday unveiled a new service called Bedrock. It essentially makes foundation models (large models that are pre-trained on vast amounts of data) from AI21 Labs, Anthropic, Stability AI and Amazon accessible to clients via an API, Amazon said in a blog post.

☆ Premarket stocks: These are the only stocks that matter right now
▼ + stars: | 2023-04-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Leading the way in growth are tech stocks like Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Tesla (TSLA) and Meta (FB). That’s been a boon to large cap tech stocks that are more sensitive to interest rates because they tend to borrow more than established companies and rely more on the prospect of future earnings. But it also means that the current market rally is thin, as the major indexes outperform the average stock. Strong outperformance from the largest stocks often power indexes to rise, said Liz Ann Sonders, chief investment strategist at Schwab, in a note Tuesday. But healthy markets should be characterized by greater participation of the “soldiers” — the rest of the stocks, she said.

☆ Intel co-founder Gordon Moore, author of ‘Moore’s Law’ that helped drive computer revolution, dies at 94
▼ + stars: | 2023-03-24 | by ( ) edition.cnn.com time to read: +5 min

Intel co-founder Gordon Moore, a pioneer in the semiconductor industry whose “Moore’s Law” predicted a steady rise in computing power for decades, died Friday at the age of 94, the company announced. Intel (INTC) and Moore’s family philanthropic foundation said he died surrounded by family at his home in Hawaii. It’s been a phenomenal ride.”In recent years, Intel rivals such as Nvidia (NVDA) have contended that Moore’s Law no longer holds as improvements in chip manufacturing have slowed down. He went to work at the Shockley Semiconductor Laboratory where he met future Intel cofounder Robert Noyce. In 1968, Moore and Noyce left Fairchild to start the memory chip company soon to be named Intel, an abbreviation of Integrated Electronics.

☆ Amazon is the latest threat to Facebook as ad targeting suffers
▼ + stars: | 2023-02-10 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +11 min

"So many people start their shopping on Amazon," Hassett said in an interview. People take selfies in front of the logo of Facebook parent company Meta on November 9, 2022 in Menlo Park, California. Liu Guanguan | China News Service | Getty ImagesFor Loftie, Amazon and Google provide better value because a shopper is showing intent by searching for a particular item. "In the near term, we expect Meta ad share to decline further in '23 given macro headwinds and the pivot to Reels," they wrote. Rachel Tipograph, CEO of marketing technology firm MikMak, said there are other unforeseen costs tied to Amazon advertising.

Figuring out how to contact Facebook can be difficult, as it does not accept phone calls for customer support. Here are a few things you can do instead to actually contact Facebook support for help with your account or other issues. How to contact Facebook supportIf you want to contact Facebook, you'll first need to log into your account. Find Facebook Help & Support in the dropdown menu in the top right. You can also approach Facebook via Instagram direct message or by including the Facebook handle in a post, but unless you get a lot of likes, chances are you're better using the Facebook Help Center.

☆ Fact Check-No evidence that four AI robots killed 29 scientists in Japan or South Korea
▼ + stars: | 2023-01-23 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

There is no evidence to support claims online that four artificial intelligence robots killed 29 scientists in a lab in Japan or South Korea. “Japanese A.I Robots Murders 29 Scientists,” reads one tweet (here). Some posts say that the supposed incident happened in Japan, while others (fb.watch/i9iz5cDId7/) place it to South Korea. Reuters found no evidence that such an incident took place in Japan or South Korea. There is no evidence to support claims circulating online that 29 scientists were killed in a lab in Japan or South Korea by four artificial intelligence robots.

☆ Spotify to cut 6% of its workforce
▼ + stars: | 2023-01-23 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Spotify (SPOT) said Monday that it will cut 6% of its workforce to reduce costs, joining tech companies including Amazon (AMZN) and Microsoft (MSFT) in slashing headcount as the global economy slows. The Stockholm-headquartered music streaming business had about 9,800 employees globally as of September 30, according to an earnings report. The company’s stock, which has nearly halved in value over the past 12 months, gained more than 4% in premarket trading in New York. Over the past three months, Amazon (AMZN), Google (GOOGL), Microsoft (MSFT) and Facebook (FB)-parent Meta have announced plans to cut more than 50,000 employees from their collective ranks. Spotify’s decision to shed about 590 jobs is part of a wider reorganization to improve efficiency and “speed up decision-making,” according to Ek.

☆ Google parent Alphabet is cutting 12,000 jobs
▼ + stars: | 2023-01-20 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

New York CNN —Google parent Alphabet is eliminating about 12,000 jobs, or 6% of its workforce, the company said Friday, in the latest cuts to shake the technology sector. “Over the past two years we’ve seen periods of dramatic growth,” Pichai said in the email. Google’s job cuts are just the latest in a bruising wave of tech layoffs, as inflation weighs on consumer spending and rising interest rates squeeze funding. “While layoffs from high-profile firms make the headlines, plenty of firms are desperate for more workers, especially tech workers. “The labor market is still so tight that many tech workers, and workers with other skills, are snapped up well before they need to collect an unemployment check.

☆ Premarket stocks: How investors are preparing for a debt ceiling standoff
▼ + stars: | 2023-01-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Now, aggressive tightening by the Federal Reserve and large spending packages have helped bring that ceiling into play once again. But Washington is at an impasse over whether or not to raise the debt limit: The White House expects Congress to pass a debt ceiling increase without conditions while Republicans say that any increase should be accompanied by spending cuts. Esther George says goodbye to the FedMost Americans dream of retiring by 65, but at the Federal Reserve it’s required. The Federal Reserve Bank of Kansas City president Esther George turned 65 this weekend, triggering her mandated retirement. “Today, the U.S. is again experiencing high inflation and the Federal Reserve is aggressively tightening monetary policy.

New York/London CNN —Microsoft (MSFT) could announce thousands of job cuts on Wednesday, according to multiple news reports, potentially becoming the latest tech company to cull its workforce as the global economy slows. Sky News, without naming sources, reported the layoffs would affect roughly 5% of the company’s workforce. Facebook (FB) parent Meta also recently announced 11,000 job cuts, the largest in the company’s history. A recent report from outplacement firm Challenger, Gray & Christmas found tech layoffs were up 649% in 2022 compared to the previous year, versus just a 13% uptick in job cuts in the overall economy during the same period. The software company’s Azure cloud computing business drove revenue growth over the three months through September, as sales in its personal computing division decreased slightly.

☆ Premarket stocks: Bruised tech investors are hedging their bets
▼ + stars: | 2023-01-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —There are two certainties in today’s market: The tech sector has been beaten down and interest rates are higher. What’s happening: Investors are purchasing put options, a bearish bet that a stock will fall during a set period of time, on certain tech stocks at historic rates. The losses also created a booming market for investors who hold put option contracts that allow investors to sell shares of these stocks at a price higher than their current levels. Rising interest rates also dried up the easy money tech companies relied on to fuel big bets on future innovations, and cut into their sky-high valuations. Beyond that, the growing number of layoffs may also give certain tech companies some cover to take more severe steps to trim costs now than they may have otherwise done.

☆ Zuckerberg weighed naming Cambridge Analytica as a concern in 2017, months before data leak was revealed
▼ + stars: | 2022-12-20 | by ( Brian Fung | ) edition.cnn.com time to read: +7 min

The data leak prompted a global outcry that led to hearings, an apology tour from Zuckerberg and Facebook’s $5 billion privacy settlement with the US government. Zuckerberg’s remarks in the deposition offer the clearest picture yet of what Zuckerberg knew about Cambridge Analytica, and when. But according to the court documents, Zuckerberg had originally proposed naming Russian foreign intelligence and Cambridge Analytica in the same breath. Zuckerberg testified that the reference to Cambridge Analytica was removed after a staffer recommended against naming specific organizations. But the improper sharing of Facebook data triggered a cascade of events that has culminated in numerous investigations and lawsuits.

☆ Fact Check-Facebook tally of total registered voters in the U.S. once again misinterpreted as number of voters in Arizona alone
▼ + stars: | 2022-12-08 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

Facebook shared a tally of the total registered voters in the United States as part of a voting information campaign in 2020. An Instagram user shared a post that reads, “9,871,525 IS THE NUMBER OF REGISTERED VOTERS IN AZ ACCORDING TO FB. According to the Arizona Secretary of State’s website, there was a total of 4,143,929 registered voters as of November 2022 for the midterm election (here). The post does not specify when or where on Facebook the number of registered voters in Arizona was said to be 9,871,525. As this state-specific information is right above the (higher) number showing registered voters in the entire United States, a user might incorrectly assume this number may be for registered voters only in his or her state.

☆ Ifeoma Ozoma is a passionate advocate for tech whistleblowers. It all started with tweets
▼ + stars: | 2022-12-06 | by ( Faith Karimi | ) edition.cnn.com time to read: +10 min

CNN —Ifeoma Ozoma’s path as an advocate for tech workers started with a series of tweets one morning in June 2020. She emerged as a passionate advocate for tech workers by seeking legal protections for whistleblowers. “So many people reached out when I told my story, and most of them were tech workers or workers within the tech industry,” she said. The 30-year-old mentors activists and other people fighting all over the world against workplace discrimination. After leaving Pinterest, Ozoma moved to a farm near Santa Fe, New Mexico, where she grows her own vegetables and raises a flock of chickens nicknamed the Golden Girls.

☆ This former tech worker is helping change laws for people who get laid off
▼ + stars: | 2022-12-06 | by ( Faith Karimi | ) edition.cnn.com time to read: +10 min

☆ Fact Check-Video falsely reports the arrests and executions of multiple notable figures
▼ + stars: | 2022-12-05 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

Reuters Fact Check previously debunked similar narratives of “mass arrests” targeting political officials ( nKBN29R1ZA ). Some users seemed to believe the video’s claims that there have been mass arrests and executions. A Reuters review of Obama’s social media accounts show she maintains an active social media presence on Twitter ( twitter.com/MichelleObama ), and an official Instagram ( here ). An official and active social media account on Twitter for McConnell is also observable ( twitter.com/LeaderMcConnell ). Reuters found no credible reporting to support the claims made in this video of supposed executions or arrests.

☆ CNN begins layoffs in what CEO says will be a ‘gut punch’ to the network
▼ + stars: | 2022-11-30 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

New York CNN Business —CNN on Wednesday informed employees that layoffs had commenced, a move that is expected to impact hundreds of staffers at the global news network and mark the deepest cuts to the organization in years. CNN declined to say on Wednesday how many employees precisely would be impacted by the layoffs. The layoffs come as media companies are being battered by brutal economic headwinds that have taken a bat to the advertising sector. Social media companies such as Facebook (FB)-parent Meta, which also rely on advertising revenue, have also executed layoffs in recent months. After Licht took over as head of CNN, he conducted a months-long review of the business.

☆ Irish regulator fines Meta $275 million for violations of Europe’s data privacy law
▼ + stars: | 2022-11-28 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN Business —Meta has been fined roughly $275 million by Ireland’s data privacy regulator for failing to prevent hackers from siphoning off personal information from more than 500 million Facebook users in a 2019 data leak. Since the fall of 2021, Ireland’s DPC has slapped Meta with 912 million euros in fines, going after the social media titan and its other subsidiaries, Instagram and WhatsApp, for alleged violations of Europe’s signature data privacy law, known as the General Data Protection Regulation (GDPR). Earlier this fall, Meta was hit with a 405 million euro fine over Instagram’s handling of children’s data, the second-largest GDPR fine in history. Other enforcement actions, in March 2022 and September 2021, led to fines of 17 million euros and 225 million euros, respectively. “Protecting the privacy and security of people’s data is fundamental to how our business works,” Meta said in Monday’s statement.

☆ Bolsonaro challenges Brazil election he lost to Lula
▼ + stars: | 2022-11-23 | by ( ) www.cnbc.com time to read: +2 min

Brazilian President Jair Bolsonaro challenged the election he lost in October to leftist rival Luiz Inacio Lula da Silva, and is arguing that votes from some machines should be "invalidated" in a complaint that election authorities met with initial skepticism. Brazilian President Jair Bolsonaro has challenged the election he lost last month to leftist rival Luiz Inacio Lula da Silva, arguing votes from some machines should be "invalidated" in a complaint that election authorities met with initial skepticism. Brazil's currency deepened losses after news of the electoral complaint, closing 1.3% weaker against the U.S. dollar. Gleisi Hoffmann, the president of Lula's Workers Party (PT), described Bolsonaro's election complaint as "chicanery." "The election was decided in the vote and Brazil needs peace to build a better future."

☆ Ticketmaster meltdown for Taylor Swift tickets sparks outrage
▼ + stars: | 2022-11-16 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

The Justice Department and many state attorneys general have made similar complaints over the years. The Justice Department and states allowed the Live Nation Ticketmaster merger to go through despite a 2010 court filing in the case raising objections to the merger. In the filing, the Justice Department said that Ticketmaster’s share among major concert venues exceeded 80%. Past efforts to rein in Ticketmaster control over the ticket market have failed. The Justice Department and the states gave approval of to the Live Nation-Ticketmaster combination, but did call for some oversight.

☆ Elon Musk's SpaceX buys ad campaign on Twitter for Starlink
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

Nov 14 (Reuters) - SpaceX has bought an advertising package on Twitter for its satellite internet service Starlink, said Elon Musk, who owns both the rocket company and the social media platform, in a tweet on Monday. loading"SpaceX Starlink bought a tiny – not large – ad package to test effectiveness of Twitter advertising in Australia & Spain. The chief executive of Tesla Inc (TSLA.O) and SpaceX had last week told advertisers that he aimed to turn the social media platform to pursue truth and put an end to fake accounts. He also raised the possibility of Twitter going bankrupt days after he said the platform saw a "massive" drop in revenue and blamed activist groups pressuring advertisers. Reporting by Akriti Sharma and Akash Sriram in Bengaluru; Editing by Vinay Dwivedi and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ A guide to parental controls on social media
▼ + stars: | 2022-11-13 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +10 min

CNN Business —A little over a year ago, social media companies were put on notice for how they protect, or fail to protect, their youngest users. The four social networks have since introduced more tools and parental control options aimed at better protecting younger users. But some lawmakers, social media experts and psychologists say the new solutions are still limited, and more needs to be done. For now, guardians must learn how to use the parental controls while also being mindful that teens can often circumvent those tools. In addition to parental controls, the app restricts access to some features to younger users, such as Live and direct messaging.

☆ 'We will resist the temptation to bottom fish': A 42-year market vet says the tech stocks that dominate the market are still overvalued — and their impending demise will further bring down the rest of
▼ + stars: | 2022-11-12 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

But according to Bill Smead, a 42-year market vet and the founder and CIO of Smead Capital Management, the group is still overvalued. Smead Capital Management"As you can see, it took years for the tech bubble stocks of 1999 to get interesting. Smead also included a chart on the average valuation of the top 100 tech stocks, which still shows historically elevated levels. Smead Capital Management"Hannibal Lecter said to Clarisse in the movie The Silence of the Lambs, 'Have the lambs stopped screaming?' Smead's views in contextSmead's view that tech stocks are overvalued is shared by some.

☆ Premarket stocks: The 5 biggest takeaways from earnings season
▼ + stars: | 2022-11-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Earnings have been strong: So far, S&P 500 earnings growth has been better than expected. We also saw solid earnings from Apple (AAPL) and record profits from oil giants Chevron (CVX) and Exxon Mobil (XOM). Companies are beating earnings estimates for the third quarter by 1.8% in aggregate, according to FactSet data. More than 50 S&P 500 companies have lowered earnings per share expectations for the fourth quarter, according to FactSet data. Fourth quarter earnings per share predictions have been revised down by 4.3% since October 1, according to Bank of America analysts.

☆ Wall Street Journal: Mark Zuckerberg tells employees layoffs coming Wednesday
▼ + stars: | 2022-11-08 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN Business —Meta CEO Mark Zuckerberg told company executives that major layoffs at the tech giant will begin on Wednesday morning, the Wall Street Journal reported Tuesday afternoon. Citing unnamed sources familiar with the matter, the Journal reported that the upcoming job cuts will likely impact many thousands of employees and mark the first broad headcount reductions in the company’s history. The reports of significant layoffs at Meta come as other tech companies have announced major job cuts. Last week, rideshare company Lyft said it was axing 13% of employees, and payment-processing firm Stripe said it was cutting 14% of its staff. Also last week, Twitter announced sweeping job cuts across the company after Elon Musk took the helm following his acquisition of the company for $44 billion, which required taking on significant debt.

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