The Federal Trade Commission on Wednesday said it would appeal a decision by a U.S. court to allow Microsoft to acquire gaming giant Activision Blizzard for nearly $70 billion.
Why it matters: It's likely the FTC's last chance to block a merger before an injunction barring the deal expires this weekend.
Elon Musk officially launched his AI startup, xAI, on Wednesday afternoon.
Why it matters: The announcement, made on Twitter, comes amid a heated race across tech giants to develop generative AI products for businesses and consumers, and as workers grow more anxious about the implications that artificial intelligence will have on their jobs.
Microsoft disclosed in a blog post Tuesday night that a China-based hacking group gained access to an unspecified number of email accounts across approximately 25 organizations.
Why it matters: Many of the accounts affected are tied to government agencies and individuals likely associated with those agencies, Microsoft said.
U.S. antitrust regulators are zeroing in on private equity, after mostly ignoring the industry for decades.
Driving the news: The Justice Department "is nearing a decision" on whether to challenge Thoma Bravo's proposed $2.3 billion take-private buyout of identity management firm ForgeRock, per Politico.
Microsoft’s $69 billion bid for Activision hasn't closed yet, but it has already changed the tech giant — and stands to significantly alter the overall video game industry.
Driving the news: The deal is nearer to closing than ever thanks to a federal judge’s ruling Tuesday denying the Federal Trade Commission’s request for a preliminary injunction.
Privacy advocates have a stacked agenda this summer as they fight legislative proposals in three key markets that threaten the security of encrypted messaging services.
What's happening: Policymakers in the U.S., the U.K. and the European Union are considering children's online safety bills that aim to provide law enforcement with a backdoor into encrypted services like WhatsApp and Signal.
Another alleged cybercriminal on the Solana blockchain has gotten busted by Federal authorities, despite cutting a deal with his victims not to press charges.
Why it matters: If thieves think that all it takes to avoid the cops is extorting a deal out of their victims, there will be a lot more theft.
KPMGwill invest at least $2 billion over the next five years with Microsoft to co-develop cloud and generative AI tools, the companies announced Tuesday.
Why it matters: Rival consulting giants like PwC and Accenture also have made large-scale commitments toward AI-powered changes.
Microsoft has cut an unspecified number of workers in a fresh round of layoffs, Axios has confirmed. The cuts follow a larger round of layoffs in January that saw the company eliminate 10,000 jobs, or less than 5 percent of its staff.
A cybersecurity startup that helps companies think like the hackers they're trying to fight has secured an investment from some of the industry's most well-known investors.
Driving the news: Ballistic Ventures — a cyber-focused venture capital firm founded by Kleiner Perkins general partner Ted Schlein, Mandiant CEO Kevin Mandia and former AT&T executive Barmak Meftah — is investing $8.5 million in SpecterOps as a part of the startup's Series A round.
A deal allowing tech companies to send user data between the European Union and the United States was completed Monday, resolving a disagreement over the ability of American intelligence agencies to access EU resident data.
Why it matters: The US and EU have been hammering out different versions of a transatlantic data sharing agreement for years, and officials hope this latest one will stick after previous attempts were struck down.
Two previous agreements failed after being challenged and struck down by a European court.
The big picture: The EU's tighter data privacy protections put American companies at risk while sending European user data back to the U.S. The agreement aims to provide these firms with standards they can pledge to meet to comply with EU rules.
What they're saying: "This flow of data underpins the $7 trillion-dollar U.S.-EU economic relationship and provides vital benefits to citizens and businesses on both sides of the Atlantic, enabling businesses of all sizes to compete in each other’s markets," reads a statement from the Justice Department.
"The importance of today’s decision to implement the EU-U.S. Data Privacy Framework cannot be overestimated,” said John Miller, senior vice president for policy for the Information Technology Industry Council.
"The [framework] establishes a clear and reliable system that protects fundamental rights of citizens, provides legal certainty for businesses, and safeguards the continuity of commercial activities involving the movement of data across borders."
Details: Compared to past agreements, the EU-US Data Privacy Framework has clearer policies around when U.S. intelligence agencies can obtain personal EU resident information and how that process can be appealed.
Flashback: Without a workable data agreement in place, Ireland's Data Protection Commission fined Meta $1.3 billion for transferring the personal data of European users to the U.S. in May.
The other side: Activist Max Schrems, who sued over the last two agreements for what he saw as inadequate privacy protections, said his pro-privacy group would challenge the decision.
Meta's Threads, with 100 million users in less than a week, is a hit by any standard — but what Threads might be beyond that is anyone's guess.
Be smart: Threads today is largely a clone of Twitter, but the format won't define the product — its success will be determined by who uses it, and for what.
A new prototype car from Sony and Honda under the brand name "Afeela" might be the best example of what people mean when they say cars are becoming "computers on wheels."
Yes, it's a handsome electric car — but more crucially, it's an enticing new platform for Sony's tech and entertainment products, including AI, augmented reality and virtual reality.
Instagram is planning to bring its branded content tools to Threads, a source told Axios, giving marketers a way to get involved with paid promotion on the app while advertising is still off limits.
Why it matters: Companies see a clear advantage in being a first-mover on Threads, but with the rules around paid promotion in flux, it's unclear the best way to get involved beyond creating organic posts.
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