Google, Amazon & Microsoft probed over AI investments

Here is the top trending news from the world of technology. News that every tech enthusiast should keep a tab on.

1)

Google, Amazon & Microsoft probed over AI investments

Google Amazon, and Microsoft will be facing an inquiry from the US Federal Trade Commission or FTC regarding their significant investments in the artificial intelligence industry. FTC said that it is concerned about the potential anti-competitive practices, which can lead to monopoly in the AI industry. It is especially concerned about tech giants’ involvement with two prominent AI. First is OpenAI, which is backed by Microsoft, and the second one is Anthropic, backed by Google and Amazon. Both these startups have developed cutting-edge AI technologies with far-reaching implications across various industries. FTC mainly wants to know whether these investments will give big tech companies unfair advantage and stifle the competition in the AI industry.

2)

Microsoft lays off 1,900 employees from Xbox & Blizzard

There is a big breaking news coming from Microsoft. The tech giant has just announced that it is laying off 1,900 employees from Xbox and Activision Blizzard. This constitutes roughly 8% of the entire Microsoft Gaming workforce. The tech giant has argued that these layoffs are part of its cost-cutting measure and will help in building a sustainable cost structure. However, the latest layoffs raise concerns about potential job insecurity in the video game industry. Overall, layoffs have once again made a comeback in 2024 as all big tech companies, with the exception of Apple, have  announced job cuts. But the only good news is that layoffs in 2024 are unlikely to be as severe as last year.

3)

Tesla losses $80 Bn in Market Cap after Musk’s Sales warning

EV major Tesla lost whopping $80 billion in market capitalization on Thursday following CEO Elon Musk’s strict warning about slower sales growth in 2024. This bad news triggered concerns among investors about Telsa’s future revenue and profitability. Over all, Tesla’s stock price plummeted over 12% on Thursday. Musk has cited several reasons for slow sales growth including increased competition from Chinese EV manufacturers like BYD, which is backed by American Billionaire Warren Buffett. Musk also made a big announcement that his company is currently focused on developing a new, cheaper electric vehicle that will be launched next year in 2025. However, he refused disclose more information about this upcoming car.

4)

Taylor Swift’s Explicit, AI generated Photos are going Viral on ‘X’

In a highly disturbing news, trolls have been flooding ‘X’ with sexually explicit AI-generated images of popular American singer Taylor Swift. The term ‘Taylor Swift AI’ was trending in various parts of the world, with one post securing more than 45 million views before it was eventually removed. X has removed some of the offending images, but users have criticized the platform for not doing enough. Some reports claim that these explicit images may have originated in Telegram group. This latest incident serves as a reminder about the growing penetration of AI generated pornographic photos across social media.  Swift so far hasn’t commented on this issue.      

5)

Epic Games all set to make a comeback on IOS

There is good news for Epic Games fans. Epic Games plans to relaunch its Epic Games Stores on iPhone and iPad under Apple’s revised app store policy in the European Union. The Epic Games Stores will also include highly popular game Fortnite. However, mind you, Epic Games will still not be available to IOS users residing outside the European Union. Epic Games has been banned from IOS app store for the last several years due to legal dispute over app fees. Overall, the potential return of Fortnite and the Epic Games Store to iPhones is a development worth watching closely. Some experts argue that this could challenge Apple’s dominance in the mobile app market, potentially benefiting both developers and users.