Meta’s AI rivalry

The social giant will charge for its chatbot while AI companies target Meta’s lucrative ads business ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Market Snapshot Salesforce Inc $177.51 -0.9% Universal Music Group NV €19.67 -2.6% Netflix Inc $87.35 -0.4% Market data as of 08:22 PM ET. Data is subject to provider delays. Your watchlist Top Stories Salesforce fails to impress: Investors gave a lukewarm reaction to the software maker’s quarterly results. Take a look at the numbers. Opposition to music deal: Bill Ackman’s offer for Universal Music Group undervalues the company, said Cyrille Bolloré, chief executive officer of the record label’s largest stockholder. Here’s why he said UMG should reject the bid. Prediction market manipulation: US prosecutors accused a Google software engineer with insider trading on Polymarket. He is accused of using his access to search data to make more than $1.2 million. Must Reads Samsung Staff Accept Wage Deal That Averts Chip Plant Strike Samsung Electronics Co. union members voted in favor of a compensation deal that will hand chip workers an average bonus of about $340,000, staving off a strike that threatened to disrupt global chip supply. Spotify, Netflix Woo Podcaster Jay Shetty From YouTube in New Deal The agreement is worth as much as $100 million over multiple years.  Snowflake Jumps 30% on Sales Outlook, $6 Billion Amazon Deal Snowflake Inc. shares jumped almost 30% in late trading after the software maker gave a stronger-than-expected annual outlook and signed a $6 billion multiyear agreement to use Amazon.com Inc.’s cloud services and chips. New From Bloomberg Get the AI Today newsletter — chronicling the disruptions and threats of AI on businesses, workers, governments and economies with analysis from Bloomberg’s global newsroom. Beyond The Brief Meta Platforms unveiled a subscription plan for its consumer artificial intelligence chatbot, part of an effort by Chief Executive Officer Mark Zuckerberg to help pay for his massive investment in the technology, Kurt Wagner writes in today’s Tech In Depth. But as Meta jumps into the competition for revenue from AI chatbots, the AI companies are targeting Meta’s core advertising business, he writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. This Week In Cyber Bulletin Dutch police have seized computer equipment used by Russian hackers, dealing a blow to a group that has launched disruptive cyberattacks across Europe, Ryan Gallagher writes in this week’s Cyber Bulletin. Sign up for the Cyber Bulletin newsletter for exclusive coverage inside the shadow world of hackers and cyber-espionage ‒ and how businesses are playing defense. Bloomberg Event Bloomberg.com subscribers are invited to nominate candidates for the inaugural VivaTech x Bloomberg Rising Star Award, to be presented in Paris on June 18. Chosen by the Bloomberg subscriber community, the Rising Star Award honors an emerging founder, technologist, academic or creator whose work is already demonstrating meaningful early impact. It celebrates individuals whose ideas, innovation and leadership are helping shape the future of technology. Submit a nomination here. Before You Go... How SpaceX’s Dream of a Record-Breaking IPO Stacks Up The rocket, satellite and AI company’s plan for a blockbuster Nasdaq listing is unprecedented in modern history. Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |