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Teen plaintiff suing Meta over mental health harms drops his claims against company days before trial
Reuters66d agobearish
Teen plaintiff suing Meta over mental health harms drops his claims against company days before trial

A Florida teen dropped his lawsuit on Wednesday against Meta Platforms, canceling a Los Angeles trial over claims the social media company's apps caused his depression and anxiety. The trial, which had been ‌slated to begin on Monday, was expected to be the second trial in thousands of lawsuits that have been ‌consolidated in California state court over claims social media companies designed their platforms to be addictive to children, spurring a youth mental health crisis. The lawsuit, brought ​by a 15-year-old boy known as R.K.C. who started using social media when he was 8, originally named four defendants: Google's YouTube, Meta's Instagram, Snap Inc's Snapchat and ByteDance's TikTok, but YouTube and TikTok settled in June.

Morgan Stanley: AI Spending Could Hit $1.4 Trillion by 2028, But 60% Leaves the US
24/7 Wall St.66d agoneutral
Morgan Stanley: AI Spending Could Hit $1.4 Trillion by 2028, But 60% Leaves the US

Morgan Stanley‘s (NYSE: MS) economics team just took its projection for artificial intelligence capital spending significantly higher, and the leakage math behind the headline number has become the more important story for US investors. On a recent episode of the firm’s Thoughts on the Market podcast titled “AI Spending: A New Engine for the Global ... Morgan Stanley: AI Spending Could Hit $1.4 Trillion by 2028, But 60% Leaves the US

Reddit Sinks 9% on Reports It May Cut Off Google’s AI Data Access
24/7 Wall St.66d agoneutral
Reddit Sinks 9% on Reports It May Cut Off Google’s AI Data Access

Reddit is threatening to pull the plug on Google's access to its massive trove of human conversation data, and the market reaction has been swift and brutal. Whether this standoff becomes a goldmine or a catastrophe for Reddit depends on a negotiation that could reshape how AI companies pay for the content fueling their models.

Zuckerberg's stock rebound made him world's 5th richest at $222B
TheStreet66d agoneutral
Zuckerberg's stock rebound made him world's 5th richest at $222B

Six weeks ago, investors were openly questioning whether Meta Platforms' enormous spending on artificial intelligence would deliver a clear return to shareholders. Meta shares climbed 21% through mid-July, adding roughly $270 billion in market capitalization, Motley Fool reported. That rally pushed ...

OpenAI Wants to Spend $750 Billion on AI. Is This Visionary — or Financially Reckless?
24/7 Wall St.66d agoneutral
OpenAI Wants to Spend $750 Billion on AI. Is This Visionary — or Financially Reckless?

Artificial intelligence has become an arms race where spending is beginning to matter as much as innovation. The companies building the largest AI models now compete not only for engineering talent, but also for electricity, data centers, advanced chips, and financing. Every new generation of AI demands more computing power than the last, pushing infrastructure ... OpenAI Wants to Spend $750 Billion on AI. Is This Visionary — or Financially Reckless?

Bloomberg66d agoneutral
OpenAI Plans to Spend Over $30 Billion on Georgia Data Center

(Bloomberg) -- OpenAI plans to spend tens of billions of dollars on a massive new data center near Savannah, Georgia as part of the ChatGPT maker’s push to keep up with surging demand for artificial intelligence software. Most Read from BloombergTrump’s 100% Generic Drug Duty Threatens US Low-Cost SupplyApple to Launch ‘Upgrade’ Device Leasing Program With Klarna to Spur SalesTrump Extends Pardons to Companies, Echoing a 17th Century KingSpaceX Set to Unlock $116 Billion in Shares After IPO Rest