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💬 Meta Overhauls WhatsApp for EU's New 'Gatekeeper' Regulations
Today: Meta Revamps WhatsApp for EU Rules | Character.ai Closes Gap with ChatGPT | Google's 25th-Year Antitrust Woes
Kristoffer Lindström
September 12, 2023
Hello!
It's Tuesday, September 12, and if you want to stay ahead in the fast-paced world of tech, you're in the right place. Today, we're covering Embracer's potential Gearbox sale, Google's antitrust woes, Meta's WhatsApp revamp, and more. Top headlines for today:
Embracer Mulls Gearbox Sale
Google's 25th-Year Antitrust Woes
Meta Revamps WhatsApp for EU Rules
AI Chatbots Code in 7 Minutes for $1
Character.ai Closes Gap with ChatGPT
Oracle Cloud Revenue Falters, Stock Drops 9%
And more…
READ TIME: 4.1 MINUTES
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Tech Companies
Sweden's Embracer is allegedly exploring options for its U.S.-based game developer Gearbox Entertainment, known for the Borderlands series. The company is working with Goldman Sachs and Aream & Co. to potentially sell the unit after receiving third-party interest. Embracer's shares rose up to 5% following the news.
Just a week after celebrating its 25th birthday, Google is heading to court for a landmark antitrust trial. The U.S. Department of Justice and several states have filed a lawsuit focusing on Google's contracts with device makers, including a lucrative deal with Apple. The trial could set precedents for the tech industry's relationship with antitrust law.
💡 Why does this matter?
This trial could reshape the competitive landscape of the tech industry. A ruling against Google may open doors for smaller competitors and set a precedent for how the U.S. government handles tech giants in antitrust matters.
Nvidia announced its upcoming open-source software, TensorRT-LLM, will double the inference speed on its H100 GPUs. The software will be integrated into Nvidia's NeMo LLM framework and is available in early access.
💡 Why does this matter?
The software enhancement could solidify Nvidia's dominance in the AI computing market, offering improved performance and efficiency. This is crucial for companies relying on large language models for real-time applications.
Meta is updating WhatsApp to align with the EU's Digital Markets Act, allowing third-party platforms like Signal and Telegram to send messages via WhatsApp without requiring an account.
AI Corner
Researchers have found that AI chatbots can develop software in less than seven minutes at a cost of under $1. The study involved a hypothetical tech company named ChatDev, where AI bots were assigned roles to design, code, test, and document software, completing tasks with minimal human intervention.
Google's philanthropic arm is allocating $20 million to a new Digital Futures Project aimed at fostering responsible AI development. The fund will support global academic and nonprofit institutions.
Character.ai, an AI app maker, is closing the gap on ChatGPT in U.S. mobile app usage, boasting 4.2 million monthly active users compared to ChatGPT's nearly 6 million. The app, backed by a16z, has seen significant growth since its May 2023 launch and attracts a younger demographic.
Markets & Money
Oracle's projected current-quarter revenue fell below Wall Street expectations, causing its shares to drop 9%. The company struggles to keep up with cloud giants like Amazon and Microsoft.
Germany is predicted to be the only major European economy to contract in 2023, with a 0.4% fall in economic activity. The European Commission also lowered its 2024 growth expectations for Germany.
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