Reddit said on Friday that the Federal Trade Commission sent a letter to the company about its data-licensing business related to the training of artificial intelligence systems. “On March 14, 2024, we received a letter from the FTC advising us that the FTC’s staff is conducting a non-public inquiry focused on our sale, licensing, or … Read more
Palantir CEO Alex Karp skewered short sellers — investors who bet on the decline in a company’s stock price — in an interview with CNBC on Wednesday. “I love burning the short sellers,” Karp told CNBC’s Sara Eisen on “Money Movers.” “Almost nothing makes a human happier than taking the lines of cocaine away from … Read more
Scanning QR codes with a mobile pay app has become the most common way to pay in mainland China. Bloomberg | Bloomberg | Getty Images BEIJING — Foreign visitors to China can now spend up to $2,000 a year using the mobile app Alipay without having to register their ID, the app operator said Friday. … Read more
TikTok Music has launched on Wednesday in Australia, Singapore and Mexico to a small group of users. Jaap Arriens | Nurphoto | Getty Images When Joe Biden joined TikTok on the eve of the Super Bowl last month, political scientist Maggie Macdonald was struck by what she called the “meta” nature of the president’s first … Read more
Tim Sweeney, chief executive officer of Epic Games Inc., speaks during an interview in Seoul, South Korea, on Tuesday, Nov. 16, 2021. SeongJoon Cho | Bloomberg | Getty Images Apple has approved Epic Games’ developer account in Sweden, which will allow the company to offer an competing app store on iPhones in Europe under a … Read more
Omar Marques | Sopa Images | Lightrocket | Getty Images Meta’s hefty investment in artificial intelligence includes development of an AI system designed to power Facebook’s entire video recommendation engine across all its platforms, a company executive said Wednesday. Tom Alison, the head of Facebook, said part of Meta’s “technology roadmap that goes to 2026” … Read more
Meta’s Mark Zuckerberg plans to visit South Korea, scheduling key meetings during the trip, according to a statement by Meta on Wednesday, which did not provide further details. Reportedly, Zuckerberg is anticipated to meet with Samsung Electronics chairman Jay Y. Lee later this month to discuss AI chip supply and other generative AI issues, as … Read more
In this photo illustration, the Reddit logo is displayed on a cell phone and computer monitor on February 13, 2024 in Los Angeles, California. Mario Tama | Getty Images Reddit is seeking a valuation of up to $6.5 billion in its upcoming IPO, according to a person familiar with the matter. The company plans to … Read more
Frank Slootman, CEO of Snowflake, on the day of the company’s initial public offering on Sept. 16, 2020. CNBC Snowflake said on Wednesday that billionaire CEO Frank Slootman, who joined the cloud software company in 2019 and took it public the following year, is retiring and will be replaced by former Google ad chief Sridhar … Read more
Apple CEO Tim Cook waves a checkered flag to the race winner at the Formula One United States Grand Prix Circuit of the Americas in Austin, Texas, on Oct. 23, 2022. Mike Segar | Reuters Apple will wind down its team working on electric cars, called Special Projects Group, according to Bloomberg. The news signals … Read more