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August 5, 2024, 5:45 PM
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Leah Nylen / Bloomberg:
US v. Google: a federal judge rules that Google's payments to make its search engine the default on smartphone web browsers violates antitrust law  —  Google's payments to make its search engine the default on smartphone web browsers violates US antitrust law, a federal judge ruled Monday …
Tanaya Macheel / CNBC:
Bitcoin dropped below $50,000, its lowest level since February 2024 and down 17% since August 3, and ether dropped 15% to ~$2,300, as global markets plummet  —  Cryptocurrencies tumbled amid a global market sell-off spurred by recession fears.  —  The price of bitcoin was last lower by 7% …
Aditya Soni / Reuters:
Apple, Alphabet, and Amazon shares fell 4%+, Nvidia fell 6%, and Microsoft and Meta fell ~3% amid worries about a potential US recession and massive AI spending  —  Apple (AAPL.O) and Nvidia (NVDA.O) led a sell-off in technology stocks on Monday as U.S. recession fears and Berkshire Hathaway's …
Financial Times:
Investor letter: Elliott Management says megacap tech stocks, particularly Nvidia, were in “bubble land”, and AI is “overhyped” and “not ready for prime time”  —  Hedge fund tells clients many supposed applications of the technology are ‘never going to actually work’
Samantha Cole / 404 Media:
Sources: Nvidia scraped sources like Netflix and YouTube to train an unreleased foundational model; concerned staff were told they had full clearance to do so  —  Nvidia scraped videos from Youtube and several other sources to compile training data for its AI products, internal Slack chats …
Cade Metz / New York Times:
Elon Musk revives his OpenAI lawsuit, filing a complaint in California to allege that OpenAI, Sam Altman, and Greg Brockman breached OpenAI's founding contract  —  The Tesla chief executive has renewed claims that the A.I. start-up put profits and commercial interests ahead of the public good.
Washington Post:
In a letter, the secretaries of state from PA, WA, MI, NM, and MN ask Elon Musk to change X's AI assistant Grok to stop it from spreading false election info  —  Grok, the AI search assistant on Musk's X platform, suggested that Kamala Harris had missed the ballot deadline in nine states.  She hasn't.
New York Times:
In an email to staff, Linda Yaccarino says X will close its San Francisco office and move workers to San Jose offices and a new Palo Alto office shared with xAI  —  Elon Musk, X's owner, has clashed with California's leaders and has said the social media platform would move its headquarters to Texas.
Sergiu Gatlan / BleepingComputer:
Researchers discover a bug, exploited since 2018, in Windows Smart App Control and SmartScreen that lets attackers avoid security warnings for unsigned binaries  —  A design flaw in Windows Smart App Control and SmartScreen that enables attackers to launch programs without triggering security warnings …
Cherlynn Low / Engadget:
In a fifth dev beta for iOS 18, iPadOS 18, and macOS 15, Safari gets Distraction Control, which lets users block distracting elements on the page like pop-ups  —  You'll get to choose which page element to block on a site, as long as it doesn't change.  —  Ahead of the full release of iOS 18 …
Bloomberg:
CrowdStrike says Delta CEO Ed Bastian failed to respond to an assistance offer from CEO George Kurtz; CrowdStrike hopes Delta will “agree to work cooperatively”  —  The allegation, in a letter Sunday from attorneys for the technology firm, builds upon CrowdStrike's claim last week …
Kyle Wiggers / TechCrunch:
OpenAI says it's changing the format of its DevDay conference this fall to a series of on-the-road developer sessions and GPT-5 will not be announced during it  —  Last year, OpenAI held a splashy press event in San Francisco during which the company announced a bevy of new products and tools …
Anne VanderMey / Bloomberg:
AI chip startup Groq raised a $640M Series D led by BlackRock at a $2.8B valuation, up from $1B after raising $300M in 2021, and adds an Intel executive as COO  —  Cisco and Samsung invested in the $640 million deal  —  Artificial intelligence startup Groq Inc. has raised $640 million in new funding …
Harshita Mary Varghese / Reuters:
Lumen, which sells data center networking and security products, says it secured new deals worth $5B from tech companies amid AI surge; LUMN up 35%+ after hours  —  Telecommunications firm Lumen Technologies (LUMN.N) has secured new deals worth $5 billion from cloud and tech companies …
Berber Jin / Wall Street Journal:
Investor letter: Josh Kushner says Thrive Capital raised a $1B early-stage fund and a $4B late-stage fund, its largest-ever pair, after backing OpenAI in 2023  —  The fundraising reflects optimism over artificial intelligence despite the startup sector's broader struggles
Bart Meijer / Reuters:
The European Commission says TikTok agreed to permanently withdraw and not replace TikTok Lite's “Task and Reward Programme” in the EU to comply with the DSA  —  ByteDance's TikTok has agreed to permanently withdraw its TikTok Lite rewards programme from the EU to comply …

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This is a Techmeme archive page. It shows how the site appeared at 5:45 PM ET, August 5, 2024.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Ellise Shafer / Variety:
Memo: the BBC says it will cut 550 jobs including in its news and content divisions by the start of FY 2027-2028 in the first phase of a plan to save $670M

Thomas Escritt / Bloomberg:
Viktor Orban's media empire collapses two months after his election defeat; about 400 journalists at Mediaworks outlets have been given notices of termination

The Colorado Sun:
The owner of The Denver Post agreed to pay the city of Denver $13.5M under a settlement to cover overdue rent for the news outlet's former building

More News

Alex Wickham / Bloomberg:
The UK says “there's no justification” for Elon Musk saying that “civil war is inevitable”, and calls on social media companies to moderate misinformation more
Michael Moritz / Financial Times:
Silicon Valley's Trump supporters are making the same mistake as all powerful people who back authoritarians: they can't control him, and he won't keep promises

Earlier Picks

Rachael Levy / Reuters:
Elon Musk says Neuralink has implanted its device in a second trial patient, who had a spinal cord injury, and 400 of the implant's 1,024 electrodes are working
Zach Dorfman / Politico:
A look at Operation Intering, an FBI-led sabotage campaign in the 1980s to secretly ship millions worth of faulty chips to the Soviet Bloc
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