Axios

Despite public comments from executives downplaying Facebook's role in the planning for the Jan. 6 insurrection, an internal report leaked to BuzzFeed News concluded that the company failed to adequately deal with extremists who gathered online and planned the assault on the Capitol.

Why it matters: Social networks continue to be both a significant source of misinformation as well as a gathering place for advocates of violence.

Snapchat beat Wall Street expectations on subscriber growth, earnings per share and revenue last quarter, sending its stock up in after-hours trading.

Details: CEO Evan Spiegel said in prepared remarks that the camera company officially has more Android users than iOS users — "a critical milestone that reflects the long-term value of the investment we made to rebuild our Android application."

Regulators in Europe and Washington are racing to figure out how to govern business' use of artificial intelligence while companies push to deploy the technology.

Driving the news: On Wednesday, the EU revealed a detailed proposal on how AI should be regulated, banning some uses outright and defining which uses of AI are deemed "high-risk."

The upcoming decision from Facebook’s independent Oversight Board on whether to uphold or reverse Facebook’s indefinite suspension of former President Trump’s profiles has policymakers on edge.

Why it matters: The decision will set a historic precedent for how the tech giant treats accounts of world leaders, and could be a litmus test for the board’s power.

The Chinese Communist Party is believed to be responsible for newly found hack attacks on the U.S. government, businesses and American infrastructure, cybersecurity company Mandiant said Wednesday.

Why it matters: This is the third major cybersecurity breach to hit the U.S. in recent months — including two in March blamed on hackers linked to China's government: one targeting 30,000 U.S. victims, including small businesses and local governments, the other hitting Microsoft.

President Joe Biden nominated Stacey Dixon on Wednesday to become the principal deputy director of National Intelligence, the nation's second highest intelligence post, per a White House press release.

Why it matters: If confirmed by the Senate, Dixon would be the first Black woman to hold the position, according to the New York Times.