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☆ Elon Musk's X to roll out audio, video calling feature
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

A screen capture of Twitter's official page with an "X" on the profile image is seen on July 23, 2023 in this screengrab obtained from a social media website. via REUTERS/File Photo/File Photo/File Photo Acquire Licensing RightsAug 31 (Reuters) - Social media platform X, formerly Twitter, plans to launch video and audio calls as owner Elon Musk races to build an "everything app" to stay ahead of competition from Meta Platforms-owned (META.O) Threads. After rebranding Twitter as X, Musk signaled he would turn the platform into a super app offering a range of services from messaging and social networking to peer-to-peer payments. The vision brings to mind Tencent's (0700.HK) WeChat app - a ubiquitous part of daily life in China. Reporting by Jaspreet Singh in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon, Musk, Tencent's, Jaspreet Singh, Devika Organizations: REUTERS, Meta, Twitter, HK, Thomson Locations: China, Bengaluru

☆ CrowdStrike lifts forecast for annual revenue, profit on resilient cybersecurity demand
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

CrowdStrike raised its annual revenue outlook to a range of $3.03 billion to $3.04 billion, up from its earlier forecast of between $3 billion and $3.04 billion. It expects adjusted profit per share for the Aug-October period at 74 cents, above estimates of 61 cents per share. Rival Palo Alto Networks forecast annual billings above market estimates earlier in August, as demand for its integrated cybersecurity offerings surged. CrowdStrike posted revenue of $731.6 million for the second quarter ended July 31, beating estimates of $724.1 million. Its adjusted profit per share came in at 74 cents, also ahead of estimates of 56 cents per share.

Persons: CrowdStrike, Jaspreet Singh, Shailesh Organizations: CrowdStrike Holdings, Global, Thomson Locations: Austin , Texas, billings, Bengaluru

☆ Nvidia-backed CoreWeave seeks stake sale at up to $8 bln valuation - Bloomberg News
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

Aug 30 (Reuters) - Specialized cloud provider CoreWeave is exploring a minority stake sale that values the company at as much as over $8 billion, Bloomberg News reported on Wednesday, citing people with knowledge of the matter. CoreWeave did not immediately respond to a Reuters request for comment. CoreWeave is expected to achieve about $1.5 billion in revenue in 2024, the report added, citing a source. Nvidia-backed CoreWeave has seen a boost from the generative AI boom thanks to its purpose-built cloud infrastructure at scale. It has partnerships with AI startups and cloud providers, which it also competes with, to build clusters to power AI workload.

Persons: CoreWeave, Jaspreet Singh, Shailesh Organizations: Bloomberg, Nvidia, Microsoft, Google, Thomson Locations: Roseland , New Jersey, Bengaluru

☆ Google unveils AI tools for enterprise customers at $30 a month
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

A Google LLC logo is seen at the Google offices in the Chelsea section of New York City, U.S., January 20, 2023. The price is the same as rival Microsoft's (MSFT.O) "Copilot" AI-powered office software suite that includes Teams and Outlook. Google has intensified investments in generative AI this year as it plays catch-up after Microsoft-backed OpenAI's launch of ChatGPT last year took the tech world by storm. Google's new tools include "Duet AI in Workspace", which will assist customers across its apps with writing in Docs, drafting emails in Gmail and generating custom visuals in Slides, among others. The company plans to release more offerings over the coming months for other customer segments, including small and medium-sized businesses and consumers.

Persons: Shannon Stapleton, Microsoft's, Jaspreet Singh, Devika Organizations: REUTERS, Google, Microsoft, Thomson Locations: Chelsea, New York City, U.S, San Francisco, Bengaluru

☆ EV startup Canoo names board member Greg Ethridge as CFO
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

Companies Canoo Inc FollowWalmart Inc FollowAug 28 (Reuters) - Electric-vehicle startup Canoo (GOEV.O) on Monday named board member Greg Ethridge as its chief financial officer, succeeding Ken Manget. The company, whose shares have fallen 57% so far this year, said this move was effective immediately. Ethridge has agreed to resign from Canoo's board of directors, a position he has held since 2020, by the end of the year. Canoo has contracts with the U.S. Defense Department for supply of advanced battery packs, Walmart (WMT.N) and National Aeronautics and Space Administration (NASA) for supplying electric vehicles. Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Greg Ethridge, Ken Manget, Ethridge, Manget, Canoo, Jaspreet Singh, Shilpi Majumdar Organizations: Walmart, U.S . Defense Department, National Aeronautics and Space Administration, NASA, Thomson Locations: Bengaluru

☆ Cybersecurity startup Wiz considers potential bid for SentinelOne
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 25 (Reuters) - Cybersecurity startup Wiz said on Friday it is considering a potential bid for SentinelOne (S.N) after the $4.9 billion company started exploring strategic options. SentinelOne has struggled to become profitable, with clients slashing their information technology spending amid an uncertain economy and sticky inflation. Earlier in the week, people familiar with the matter told Reuters the SentinelOne was exploring options that could include a sale. SentinelOne has hired investment bank Qatalyst Partners to advise on discussions with potential acquirers, including private equity firms, the sources had said. Wiz and SentinelOne in March had announced an exclusive partnership to deliver end-to-end cloud security.

Persons: Brendan McDermid, SentinelOne, Jaspreet Singh, Krishna Chandra Organizations: SentinelOne Inc, New York Stock Exchange, REUTERS, Reuters, Qatalyst Partners, Thomson Locations: New York City, U.S, Bengaluru

☆ Databricks in talks to raise funds at $43 billion valuation, Bloomberg reports
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

Aug 25 (Reuters) - Databricks, a data analytics platform using artificial intelligence, is in discussions with T. Rowe Price about a new funding round that would value the company at $43 billion, Bloomberg News reported on Friday. These private discussions are at a preliminary stage and could fall apart, the report said, citing two people familiar with the matter. If the round is successful, the San Francisco-based startup's valuation would be considerably higher than the $38 billion it reached two years ago in funding led by Counterpoint Global, according to the Bloomberg. Databricks offers a software platform in the cloud that companies can use to analyze data. Databricks declined to comment, while T. Rowe Price did not immediately respond to a Reuters request for a comment.

Persons: Rowe Price, Jaspreet Singh, Maju Samuel Organizations: Bloomberg, Counterpoint, Databricks, Thomson Locations: San Francisco, Bengaluru

☆ Intuit forecasts robust annual profit; shares dip on weak consumer group outlook
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

The company forecast Consumer Group growth of 7% to 8% for the financial year ending July 2024. "The Consumer Group guidance for FY24 is lighter than expected," Morningstar analyst Julie Sharma said. Intuit's main products include QuickBooks, TurboTax, Credit Karma, and Mailchimp among others, that serve more than 100 million customers by managing a wide range of accounting services. "We were expecting slightly better Credit Karma results," said Sharma, adding it appears that challenges regarding loans were worse than she expected. The company expects annual revenue between $15.89 billion and $16.11 billion, compared with market estimate of $15.99 billion.

Persons: Morningstar, Julie Sharma, Sharma, Jaspreet Singh, Shailesh Organizations: Intuit, Wall, Consumer, Consumer Group, Thomson Locations: TurboTax, View , California, Bengaluru

☆ Netflix signups remain high, fueled by password-sharing crackdown - data
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, U.S., July 12, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsAug 23 (Reuters) - Signups for Netflix (NFLX.O) in the United States remain elevated despite a fall from June's record high after the video-streaming pioneer's crackdown on shared passwords came into effect in May, according to data from research firm Antenna. Netflix had said last year it was going to limit account-sharing and was testing various approaches in some markets. This has led analysts to expect that about 50 million users will ultimately create their own accounts. The research firm sources its streaming data from transaction records such as online purchase receipts and banking information.

Persons: Mike Blake, Walt Disney's, Max, Jaspreet Singh, Akash Sriram, Pooja Desai Organizations: Netflix, REUTERS, Amazon, Warner Bros, Reuters, Thomson Locations: Los Angeles , California, U.S, United States, Bengaluru

☆ Apple endorses California bill on 'Right to Repair'
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo Acquire Licensing RightsAug 23 (Reuters) - Apple (AAPL.O) urged members of the California legislature to pass the "right to repair bill" or "Senate Bill 244" as currently drafted, in a letter on Tuesday, which requires manufacturers to allow customers to fix damaged devices. The iPhone maker's move is a reversal from its years-long opposition towards access to repairs as the act would require electronic device makers to provide tools for repairing damaged appliances. "We support "SB 244" because it includes requirements that protect individual users' safety and security as well as product manufacturers' intellectual property," Apple said in the letter. Reporting by Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Segar, Apple, Jaspreet Singh, Krishna Chandra Organizations: Apple Inc, Apple, REUTERS, Thomson Locations: Manhattan , New York, U.S, California, Bengaluru

☆ Snowflake beats quarterly estimates on strong demand for data management services
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

Shares of the company rose more than 3% in trading after the bell. The Bozeman, Montana-based company's revenue rose about 36% to $674 million for the quarter ended July 31, above analysts' average estimate of $662.2 million, according to Refinitiv data. Excluding items, the second-quarter adjusted profit per share was 22 cents, compared with analysts' average estimate of 10 cents. Snowflake's second-quarter product revenue rose 37% to $640.2 million, above market estimates of $623 million. The company forecast third-quarter product revenue in the range of $670 million to $675 million, compared with analysts' average estimate of $670.8 million, according to Refinitiv data.

Persons: Brendan McDermid, Frank Slootman, Snowflake, Jaspreet Singh, Krishna Chandra Organizations: Snowflake Inc, New York Stock Exchange, REUTERS, Nvidia, Thomson Locations: New York, U.S, Bozeman , Montana, Bengaluru

☆ NYSE suspends trading of WeWork warrants, to start delisting them
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

WeWork logos are seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. WeWork, which earlier this month warned about its ability to stay afloat, added that the company's common shares will continue to trade on the NYSE. WeWork had received a non-compliance notice from the NYSE in April, as its stock closed below $1 on average over a consecutive 30 trading-day period. In its efforts to regain listing compliance, WeWork last week had said it would proceed with a one-for-forty reverse stock split. WeWork's shares have lost almost all its value since it went public with an equity value just shy of $9 billion in 2021.

Persons: Kate Munsch, WeWork, recoiled, Adam Neumann, Jaspreet Singh, Shailesh Organizations: REUTERS, New York Stock Exchange, NYSE, Thomson Locations: San Francisco , California, U.S, WeWork's, Bengaluru

☆ Zoom forecasts current-quarter profit above estimates on strong enterprise demand
▼ + stars: | 2023-08-21 | by ( Jaspreet Singh | ) www.reuters.com time to read: +2 min

The Zoom Video Communications logo is pictured at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. Zoom expects third-quarter revenue between $1.115 billion and $1.120 billion for the quarter, compared with analysts' average estimate of $1.13 billion, according to Refinitiv data. Excluding items, the company posted second-quarter profit of $1.34 per share, compared with target estimate of $1.05. Second-quarter enterprise revenue of the company rose 10.2% to $659.5 million. Zoom raised its annual revenue forecast to between $4.49 billion and $4.50 billion, compared with its earlier forecast of between $4.47 billion and $4.49 billion.

Persons: Carlo Allegri, Needham, Ryan Koontz, Webex, Koontz, Kelly Steckelberg, Zoom, Jaspreet Singh, Krishna Chandra Organizations: NASDAQ, REUTERS, Communications, Wall, Revenue, Thomson Locations: New York , New York, U.S, San Jose , California, Bengaluru

☆ Zoom forecasts current-quarter profit above estimates
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

The Zoom Video Communications logo is pictured at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. REUTERS/Carlo Allegri/file photo Acquire Licensing RightsAug 21 (Reuters) - Zoom Video Communications (ZM.O) forecast third-quarter profit above Wall Street estimates on Monday, a positive sign for the company that has tried to overcome a post-pandemic slowdown by offering a wider range of collaboration tools. The San Jose, California-based company expects profit per share between $1.07 and $1.09 for the quarter, above analysts' average estimate of $1.03 per share, according to Refinitiv data. Reporting by Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Jaspreet Singh, Krishna Chandra Organizations: NASDAQ, REUTERS, Communications, Wall, Thomson Locations: New York , New York, U.S, San Jose , California, Bengaluru

☆ Tesla shares gain as Baird Equity adds stock to 'best ideas' list
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsAug 21 (Reuters) - Electric-vehicle maker Tesla's (TSLA.O) shares rose 4.5% on Monday, snapping a six-session losing streak, after brokerage Baird Equity Research added the stock to its "best ideas" list. Bearish investors will point to lower production, said Baird, but added Tesla was still on pace to achieve its production forecast of 1.8 million vehicles this year. Tesla sparked a price war earlier this year and last week slashed prices of three models in China. Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Baird, Tesla, Rivian, Akash Sriram, Jaspreet Singh, Krishna Chandra Organizations: REUTERS, Equity Research, stoke, Apple, Ford Motor, Thomson Locations: Bern, Switzerland, China, Bengaluru

A Reserve Bank of India (RBI) logo is seen inside its headquarters in Mumbai, India, April 6, 2023. India's trade deficit with the UAE was $21.62 billion in 2022/23, or 8.2% of its total deficit, government data shows. An RBI official communicated this message verbally to foreign exchange dealers at a seminar this month, four sources said. The central bank is "keen that volumes of such trades go up" and "has assured the market that they will be ready to support banks with INR-AED trades," this banker said. "The RBI is telling banks to first encourage large clients and corporates to start INR-AED trades because their balance sheets are relatively stronger," another banker said.

Persons: Francis Mascarenhas, corporates, Siddhi Nayak, Jaspreet, Savio D'Souza Organizations: Bank of India, REUTERS, Rights, United Arab, Reuters, Reserve Bank, Indian Oil Corp, Abu Dhabi National Oil Co, Siddhi, Thomson Locations: Mumbai, India, Rights MUMBAI, DELHI, United Arab Emirates, UAE, dirhams, Abu Dhabi

☆ Cybersecurity firm Palo Alto projects strong annual billings, shares rally
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

Aug 18 (Reuters) - Palo Alto Networks (PANW.O) forecast annual billings above market estimates on Friday, in a sign that more businesses were turning to its integrated cybersecurity offerings to combat rising digital threats. Palo Alto projected full-year billings to be between $10.9 billion and $11.0 billion, compared with the Visible Alpha consensus estimate of $10.80 billion. Shares of Santa Clara, California-based Palo Alto have declined around 17% since it set Friday as its earnings date earlier this month — a move some analysts termed as "head scratching". Its fourth-quarter revenue grew about 26% to $1.95 billion, roughly in line with analysts' expectations, according to Refinitiv data. Palo Alto expects annual adjusted profit per share to be between $5.27 and $5.40, compared with analysts' expectations of $4.98.

Persons: billings, Nikesh Arora, Jaspreet Singh, Shilpi Majumdar Organizations: Palo Alto Networks, Palo Alto, platformization, Global, Palo, Software Technologies, Thomson Locations: billings, Santa Clara , California, Alto, Bengaluru

REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsAug 17 (Reuters) - Semiconductor equipment maker Applied Materials (AMAT.O) on Thursday forecast its fourth-quarter profit would be substantially higher than analyst estimates, as chip demand picks up and governments spend billions on subsidies. Applied reported third-quarter revenue of $6.43 billion, beating analysts' average estimate of $6.16 billion, according to Refinitiv data. Applied finance chief Brice Hill said that despite overall lower chip equipment spending this year, the company's services business would continue to grow. For its company's semiconductor systems unit, which supplies gear to chip makers, third-quarter revenue slipped roughly 1% to $4.68 billion. Samsung Electronics (005930.KS), Taiwan Semiconductor Manufacturing Co (2330.TW), and Intel Corp (INTC.O) use the company's advanced chip production tools.

Persons: Dado Ruvic, Gary Dickerson, Brice Hill, Jaspreet Singh, Max A, Shinjini Ganguli, David Gregorio, Jamie Freed Organizations: REUTERS, Semiconductor, Applied, Lam Research, KLA, Samsung Electronics, Taiwan Semiconductor Manufacturing, Intel Corp, Thomson Locations: Santa Clara , California, China, Bengaluru, Max, San Francisco

☆ Applied Materials forecasts upbeat fourth quarter
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed Applied Materials logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsAug 17 (Reuters) - Semiconductor equipment maker Applied Materials (AMAT.O) forecast fourth-quarter results above market estimates on Thursday on strong demand from chipmakers setting up new manufacturing plants, sending its shares up 3% after the bell. Governments across the globe have in the past year doled out billions of dollars in subsidies to boost domestic chip manufacturing, which benefited companies such as Applied Materials and KLA (KLAC.O) whose tools are essential in chip making. Santa Clara, California-based Applied Materials expects revenue of $6.51 billion in the fourth quarter, plus or minus $400 million, compared with analysts' average estimate of $5.86 billion, according to Refinitiv data. It expects adjusted profit per share between $1.82 and $2.18, above market estimate of $1.61.

Persons: Dado Ruvic, Jaspreet Singh, Shinjini Organizations: REUTERS, Semiconductor, Applied, Materials, Thomson Locations: Santa Clara , California, Bengaluru

☆ Elon Musk's SpaceX turns profit in first quarter as revenue soars - WSJ
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Joe Skipper/File Photo Acquire Licensing RightsAug 17 (Reuters) - Elon Musk-owned SpaceX's surging revenue helped it turn a small profit in the first quarter of 2023 after two annual losses, the Wall Street Journal reported on Thursday, citing documents. The company generated $55 million in profit on $1.5 billion in revenue during the January-to-March period, according to the report. In 2022, revenue doubled to $4.6 billion, helping the company reduce its loss last year to $559 million from $968 million, the WSJ reported. The company reported about $5.2 billion in total expenses for 2022, up from $3.3 billion the year earlier, according to the report. SpaceX's first-quarter results are preliminary, while annual results are final, the WSJ reported, citing the documents.

Persons: Joe Skipper, Elon Musk, Walt Disney, SpaceX's, Jaspreet Singh, Anil D'Silva Organizations: SpaceX, Cape Canaveral Space Force, REUTERS, Wall Street, Intel, WSJ, Thomson Locations: Cape Canaveral , Florida, U.S, Bengaluru

☆ Synopsys names insider Ghazi as CEO
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: 1 min

A man walks through the Synopsys booth during the Black Hat information security conference in Las Vegas, Nevada, U.S. on July 26, 2017. REUTERS/Steve Marcus/File photo Acquire Licensing RightsAug 16 (Reuters) - Synopsys (SNPS.O) said on Wednesday Sassine Ghazi will join as president and chief executive from Jan. 1 next year, taking over from CEO Aart de Geus who will move to the role of executive chair of board of directors. Reporting by Jaspreet Singh in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Steve Marcus, Sassine Ghazi, Aart de Geus, Jaspreet Singh Organizations: REUTERS, Thomson Locations: Las Vegas , Nevada, U.S, Bengaluru

☆ OpenAI says AI tools can be effective in content moderation
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 15 (Reuters) - ChatGPT creator OpenAI made a strong case for the use of AI in content moderation, saying it can unlock efficiencies at social media firms by speeding up the time it takes to handle some of the grueling tasks. OpenAI, which is backed by Microsoft, said its latest GPT-4 AI model can reduce the process of content moderation to a few hours from months and ensure more consistent labeling. "The process (of content moderation) is inherently slow and can lead to mental stress on human moderators," OpenAI said. "With this system, the process of developing and customizing content policies is trimmed down from months to hours." Separately, OpenAI CEO Sam Altman said on Tuesday that the startup does not train its AI models on user-generated data.

Persons: Dado Ruvic, OpenAI, Sam Altman, Jaspreet Singh, Anil D'Silva Organizations: REUTERS, Microsoft, Google, Facebook, Thomson Locations: Bengaluru

☆ Factbox: SoftBank-owned Arm courts Big Tech interest in its IPO
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: 1 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/IllustrationAug 11 (Reuters) - SoftBank Group-owned chip designer Arm is getting investment interest from several major tech firms for what is expected to be one of this year's biggest initial public offerings. Arm has been in talks with about 10 companies, including Amazon.com (AMZN.O), Intel (INTC.O), Alphabet (GOOGL.O) and Nvidia (NVDA.O), about investments ahead of its IPO. Here is a list of companies that could be anchor investors in the IPO -Compiled by Jaspreet Singh and Zaheer Kachwala in Bengaluru; Edited by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jaspreet Singh, Zaheer Kachwala, Shounak Dasgupta Organizations: REUTERS, SoftBank, Intel, Nvidia, Thomson Locations: Bengaluru

☆ Digital World extends deadline for merger with Donald Trump's media company
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Former U.S. President and Republican presidential candidate Donald Trump speaks during a campaign rally in Windham, New Hampshire, U.S., August 8, 2023. REUTERS/Reba SaldanhaAug 9 (Reuters) - Digital World Acquisition (DWAC.O) and former U.S. President Donald Trump's media company on Wednesday extended the deadline for their merger by over three months to Dec. 31, as they work to close the deal that has been delayed by regulatory scrutiny. The move comes weeks after blank-check firm DWAC settled fraud charges with the U.S. securities regulator, clearing some of the uncertainty over its merger with Trump Media & Technology Group (TMTG) - the parent company of the Truth Social app. The firm, which originally struck a deal to merge with TMTG in October 2021, had in June extended the deadline to Sept. 8. The company in July named Eric Swider as its new CEO after ousting Patrick Orlando in March.

Persons: Donald Trump, Reba Saldanha, Donald Trump's, DWAC, Eric Swider, Patrick Orlando, Jaspreet Singh, Anil D'Silva Organizations: U.S, Republican, REUTERS, Trump Media & Technology, TMTG, U.S . Securities, Exchange Commission, Thomson Locations: Windham , New Hampshire, U.S, Bengaluru

☆ Google, Universal Music in talks for deal on AI 'deepfakes' - FT
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

Universal Music Group logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/FILE PHOTOAug 8 (Reuters) - Alphabet's (GOOGL.O) Google and Universal Music (UMG.AS) are in talks to license artists' voices and melodies for artificial intelligence-generated songs, Financial Times reported on Tuesday, citing four people familiar with the matter. The music industry is grappling with "deepfake" songs, made using generative AI, that mimic artists' voices, often without their consent. Discussions between Google and Universal Music are at an early stage and no product launch is imminent, while Warner Music (WMG.O) is also in talks with Google about a product, the report added. Reporting by Jaspreet Singh in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jaspreet Singh, Shinjini Organizations: Universal, REUTERS, Google, Financial, Warner Music, Thomson Locations: Bengaluru

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