Amazon clashes again with the FTC

The regulators’ latest lawsuit alleges Amazon hid overcharges to advertisers ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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 Amazon.com Inc $258.90 +1.5% Adobe Inc $285.75 +2.1% Snowflake Inc $356.47 +17% Market data as of 07:47 PM ET. Data is subject to provider delays. Your watchlist Top Stories OpenAI’s latest technology: GPT-6 Astra is being released by the AI company to some of its paid business users. OpenAI says it’s a step toward artificial general intelligence. Adobe’s new CEO: The software firm chose executive Anil Chakravarthy as its next chief executive officer. His top internal rival for the post is leaving. Bezos’ recruitment effort: Jeff Bezos’ space company Blue Origin is hiring Amazon engineers to develop a rival satellite network. The companies are competing for talent in their hometown of Seattle. Must Reads Nvidia to Buy Hugging Face for $13 Billion in Open-Source Push Nvidia Corp. agreed to acquire artificial intelligence startup Hugging Face in a transaction valued at about $13 billion, adding a popular software platform to the chip giant’s AI empire. A Data Center Revolt By Historic Battlefield Is Now a Blueprint for Backlash Organized opposition toppled a $100 billion project from developers backed by two of the world’s biggest private equity companies.  Smart Ring Maker Oura Files for US IPO as Revenue Surges Health and fitness ring-maker Oura Inc. filed for an initial public offering, showing soaring revenue as well as increasing losses. Beyond The Brief A group of Amazon advertising employees were trying to figure out how to avoid using the term “surcharge” to explain an extra fee they planned to pin on advertisers, Spencer Soper reports in today’s Tech In Depth. They turned to ChatGPT, which came up with “performance premiums.” That’s just one of the facts laid out by the US Federal Trade Commission in its lawsuit accusing Amazon of overcharging advertisers as much as $20 billion, 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 Q&AI OpenAI recently cut prices for multiple artificial intelligence models in a bid to become more affordable compared with low-cost Chinese models. Anthropic has no interest in following suit, Shirin Ghaffary reports in this week’s Q&AI. “I’ve got no appetite to try and buy market share by lowering prices,” Paul Smith, Anthropic’s chief commercial officer, told Ghaffary. You’ve got questions about AI. We’ve got answers. Sign up for Bloomberg Technology’s weekly Q&AI newsletter. Before You Go... Sam Altman Says OpenAI Has Fumbled at Communicating AI Benefits OpenAI Chief Executive Officer Sam Altman says top artificial intelligence developers have fumbled at communicating the benefits of the technology, leaving the industry vulnerable to growing backlash from communities around the world. 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 |