Tech News Edition – March 22, 2024

SpaceX Constructs Secretive Spy Satellite Network Starshield

SpaceX , founded by Elon Musk, is constructing a network of hundreds of spy satellites under a secret agreement with a U.S. intelligence agency, according to five unidentified sources. The project, named "Starshield," is valued at $1.8 billion and involves SpaceX's Starshield division collaborating with the National Reconnaissance Office (NRO). Once completed, the network will significantly enhance the U.S. government's capacity to monitor potential targets worldwide, enabling real-time imagery of activities on the ground almost anywhere on the planet.

Reddit's IPO Oversubscription Points to Strong Demand

Reddit, Inc. 's Initial Public Offering (IPO) has been significantly oversubscribed, attracting demand between four and five times higher than the available shares. This strong interest suggests that the social media platform will likely meet or even exceed its target price range of?31 to?34 per share during the IPO pricing scheduled for New York on Wednesday. As part of its growth strategy, Reddit recently announced plans to increase its sales by over 20% in 2024, further enhancing its appeal to investors ahead of the IPO.

Meta Platforms Facing Probe Over Alleged Role in Illegal Drug Sales

According to recent reports, U.S. prosecutors in Virginia are currently investigating Meta Platforms, formerly known as Facebook, regarding their potential involvement in facilitating and profiting from the illegal sale of drugs through their social media platforms. This investigation began after prosecutors issued subpoenas last year and initiated a criminal grand jury probe, seeking information related to drug content and transactions conducted via Meta's platforms.

Meta Slashes Subscription Fees Amid Privacy Regulator Scrutiny

Meta Platforms, formerly known as Facebook, has proposed to decrease its monthly subscription fee for Facebook and Instagram to €5.99 from €9.99. The decision follows discussions with privacy regulators regarding the company's no-ads subscription service, which has faced criticism since its introduction in Europe in November.

Central Banks Embrace AI for Climate Risk Analysis

Central banks are pioneering the use of artificial intelligence (AI) to gather data for evaluating climate-related financial risks. This approach marks a significant advancement in assessing the impacts of climate change on the financial sector. The initiative underscores the growing recognition among central bankers of the importance of integrating climate risk into financial decision-making processes.

Deputy PM Pushes Global Action Against AI Misinformation

On March 19, 2024, British Deputy Prime Minister Oliver Dowden launched a global push to protect elections from misinformation generated by artificial intelligence. This announcement came during the Summit for Democracy in Seoul, aiming to bring democratic nations together against the growing threat of AI-driven misinformation campaigns by malicious actors.?

Intel's $100 Billion Investment Spree Across Four US States: A New Era of AI Chip Manufacturing Begins

英特尔 is preparing for a?100 billion spending spree across four U.S. states to build and expand factories following the recent announcement of?19.5 billion in federal grants and loans secured under the CHIPS Act. This investment aims to transform an area near Columbus, Ohio, into the largest artificial intelligence (AI) chip manufacturing site globally by 2027. Additionally, Intel intends to revamp facilities in New Mexico and Oregon and expand operations in Arizona.

Tim Cook in Shanghai: Apple Boss Visits China Amidst Sales Pressure

Apple's Chief Executive Officer, Tim Cook, announced via his Weibo account that he was visiting Shanghai. This visit comes amidst reports of increasing competition from local Chinese brands putting pressure on Apple's market share within the country. The announcement also follows recent rumors about an upcoming flagship store launch in Shanghai, which could be part of Cook's agenda during this trip. As one of the most important global markets for tech companies like 苹果 , maintaining strong relationships and visibility in China remains crucial for their continued growth and success.

Apple Faces Antitrust Lawsuit Over App Store Regulations and Pricing Policies

The US Department of Justice (DOJ) filed a significant antitrust lawsuit against technology giant Apple. The lawsuit, reportedly submitted on March 22, 2024, accuses Apple of stifling competition in various aspects of the smartphone market, particularly through its restrictions on app developers and pricing policies. The DOJ argues that Apple holds an unfair monopoly position in the smartphone market due to its app store regulations, forcing developers and consumers to comply with its terms and conditions.

Building a Safer Future with the UN's First Global Agreement on Artificial Intelligence

The United Nations General Assembly unanimously adopted the first global resolution on artificial intelligence. Proposed by the United States and co-sponsored by China and over 120 other nations, the nonbinding resolution encourages countries to safeguard human rights, protect personal data, and monitor AI for risks. The resolution highlights the importance of strengthening privacy policies and fostering regulatory and governance approaches for safe, secure, and trustworthy AI systems. This initiative follows several government attempts worldwide to shape AI's development due to concerns about disrupted democratic processes, increased fraud, and dramatic job losses, among other potential harms.?

TikTok Ban Sparks Concern Among Content Creators

As Congress contemplates a potential ban on the popular video-sharing app TikTok, content creators express worry about the consequences for their livelihoods and civic engagement opportunities. The proposed ban has sparked debate among lawmakers, with critics arguing that it represents a violation of free speech principles and supporters emphasizing national security concerns related to the app's ownership by a Chinese company. Content creators argue that the platform plays a crucial role in informing and engaging young people, with 32% of American youth obtaining their news directly from the app. However, opponents of the ban claim that the legislation targets TikTok unfairly and that alternative social media platforms cannot fully replace the unique community provided by the app.

Microsoft Hires DeepMind Co-Founder to Lead Consumer AI Charge

微软 has recently hired Mustafa Suleyman, co-founder of DeepMind AI lab, to lead its consumer artificial intelligence (AI) business. Suleyman, a prominent figure in the AI industry, will report directly to Microsoft CEO Satya Nadella and will oversee a range of projects, including the integration of an AI Copilot into Windows and the addition of conversational elements to the Bing search engine. This move comes as Microsoft's market capitalization surpasses Apple's, with the company's incorporation of AI features, such as ChatGPT into products like Office software, starting to boost revenue growth.

Meta Platforms Faces Advertiser Class Action Lawsuit; Share Price Remains Strong

In recent legal developments, Meta Platforms must face an advertiser class action lawsuit, as ruled by a U.S. appeals court on Wednesday, March 21, 2024. This decision comes after Meta attempted to dismiss claims made against them regarding their ad delivery system, alleging that the platform favored larger advertisers over smaller ones. Despite facing potential legal challenges, Meta Platforms shares continue to perform strongly. In fact, the company's stock price recently crossed a moving average, indicating optimism among investors. As of Thursday, March 22, 2024, Meta's share price opened at 488.43, with a day's range between 481.28 and $495.66.

Tennessee's New Law Makes AI-Generated Artist Voices Illegal

Tennessee became the first US state to sign a law protecting musicians from the unauthorized use of artificial intelligence (AI). The law, named the Ensuring Likeness, Voice, and Image Security Act or "ELVIS Act," aims to prevent AI tools from replicating an artist's voice without their consent. The bill was signed by Tennessee Governor Bill Lee at the historic RCA Studio A, surrounded by musicians, songwriters, and music industry leaders. The ELVIS Act updates Tennessee's Protection of Personal Rights law to include artists' voices, making it a property right rather than a right of publicity.?

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