Technology

Meta, TikTok win challenge against EU tech fees, forcing regulators to recalculate

BRUSSELS (Reuters) - Meta Platforms and TikTok on Wednesday won a legal challenge to the way EU regulators calculated a supervisory fee imposed on them under landmark tech rules, but will receive no money back while officials reformulate the levy.

AI

Top Japan start-up Sakana AI touts nature-inspired tech

The word sakana means fish in Japanese, and the start-up says it is inspired by nature, where species from ants to humans collaborate to solve problems.

Technology

Oracle soars on AI cloud gains, Ellison closes in on Musk as world's richest

(Reuters) - Oracle shares surged about 43% to a record high on Wednesday, putting the company on track to join the elite trillion-dollar club and propelling co-founder Larry Ellison closer to the top of the world's richest list.

Gig economy

Alibaba, Meituan take China commerce war into local services

Alibaba Group Holding Ltd is committing another 1bil yuan (RM591.57mil or US$140mil) of incentives to drive more traffic to one of its most popular online services, cranking up the heat on JD.com Inc and Meituan in their ongoing battle for Chinese consumers.

Technology

Google scraps some cloud data transfer fees in EU and UK

LONDON (Reuters) -Google said on Wednesday it had scrapped data transfer fees for organisations processing workloads "in parallel" across two or more cloud platforms in the European Union and Britain ahead of the EU Data Act coming into effect on Friday.

AI

Popular AI model performance benchmark may be flawed, Meta researchers warn

'We've identified multiple loopholes with SWE-bench Verified,' the manager at Meta Platforms' AI research lab Fair says.

Gig economy

Alibaba unveils new F1-style delivery uniform amid rising e-commerce battle

Alibaba rolls out a new outfit for its delivery workers that resembles the racing suit for Formula One racers.

Smartphones

Apple's move to eSIM-only strengthens global trend

Apple's Tuesday announcement that the new iPhone 17 Air will only be available around the world without physical SIM cards marks a new advance for the virtual eSIM technology the firm has relied on in the US for years.

Social media

Former Meta researchers testify company buried child safety studies

Meta systematically suppressed internal research highlighting serious child safety risks on its virtual reality platforms, according to allegations from current and former employees who testified to Congress on Sept 9.

Technology

Block defeats shareholder lawsuit over 2021 Cash App data breach

NEW YORK (Reuters) - Block, the technology and financial services company led by Twitter co-founder Jack Dorsey, won the dismissal on Tuesday of litigation claiming it misled shareholders in connection with a large data breach at its Cash App mobile payment service.

Technology

Klarna prices US IPO at $40 per share, valuing it at $15.1 billion, source says

(Reuters) -Swedish fintech Klarna and some of its shareholders priced its U.S. IPO at $40 per share, valuing the company at $15.1 billion, a source told Reuters on Tuesday.

Technology

Musk's Neuralink says 12 people have received its implants

(Reuters) -Elon Musk's brain implant company Neuralink said on Tuesday that 12 people worldwide have received its chips.

Technology

Meta put virtual-reality profit over kids' safety, whistleblowers tell US Congress

(Reuters) -Facebook parent Meta Platforms put profit from its virtual-reality platform over safety, two former researchers told a Senate panel on Tuesday.    

Technology

Gemini lifts IPO price range, targets $3 billion valuation amid crypto boom

(Reuters) - Winklevoss twins-backed Gemini raised the proposed price range for its U.S. initial public offering on Tuesday and is now targeting a valuation of up to $3.08 billion in its listing, reflecting investor interest in crypto ventures.

Technology

Oracle expects half a trillion dollars in booked cloud orders, stock rises 27%

(Reuters) - Oracle said on Tuesday it expects booked revenue at its Oracle Cloud Infrastructure business to exceed half a trillion dollars, boosted by growing demand for its relatively low-cost cloud infrastructure services and sending its shares up 27% after the bell.

Technology

GameStop reports rise in second-quarter revenue

(Reuters) - GameStop reported a nearly 22% rise in second-quarter revenue on Tuesday, as the videogame retailer's efforts to revive its struggling business began to pay off, sending its shares up about 3% in extended trading.

Technology

Meta's TBD Lab research unit has 'a few dozen' researchers and engineers, CFO says

(Reuters) -Meta's TBD Lab unit comprises "a few dozen" researchers and engineers developing its next-generation of foundation models, the company's finance chief Susan Li said on Tuesday.

Technology

California limits on 'addictive' social media feeds for children largely upheld

(Reuters) -A federal appeals court largely upheld a California law on Tuesday making it illegal, absent parental permission, for social media companies to provide children with "addictive feeds" that the state fears could damage their mental health.

Technology

Nvidia-backed Reflection AI eyes $5.5 billion valuation as AI runs hot, FT reports

(Reuters) -Nvidia-backed Reflection AI is raising around $1 billion in a financing that will value the startup at up to $5.5 billion, the Financial Times reported on Tuesday, citing people familiar with the matter.

Technology

Factbox-Apple launches slim iPhone 17 Air, new AirPods and Watch in holiday refresh

(Reuters) -Apple unveiled a new generation of the iPhone, including a sleek model dubbed iPhone 17 Air, and several other devices on Tuesday, as it looks to drive upgrades and spur sales ahead of the holiday shopping season.