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Meta, CoreWeave deepen AI cloud partnership with fresh $21 billion deal

April 9 (Reuters) – Meta Platforms (META.O) is deepening its CoreWeave (CRWV.O) partnership ‌with a fresh $21 billion deal for additional cloud computing capacity, as it rushes to catch up with rivals in the high-stakes artificial intelligence race after an underwhelming AI model release last year. The latest deal, which extends through December 2032, is in addition to a […]

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Amazon CEO reveals AI revenue, dismisses spending doubts in annual letter

April 9 (Reuters) – Amazon’s AI services at its cloud-computing unit are generating annualized revenue of more than $15 billion, CEO Andy Jassy said, the first time the company has reported numbers on a business it has backed with billions of ‌dollars in investment. The figure, based on first-quarter performance, represents roughly 10% of Amazon

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Coinbase gets conditional US approval for trust charter, Bloomberg News reports

April 2 (Reuters) – Coinbase Global (COIN.O), opens new tab has received conditional approval from banking regulators for a national trust company charter, Bloomberg News reported on Thursday, in ‌a move that could boost the biggest U.S. cryptocurrency exchange’s appeal among large institutional investors.   Full approval from the Office of the Comptroller of the Currency would

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China expands digital yuan programme with 12 new bank operators

BEIJING, April 2 (Reuters) – China’s central bank has expanded its digital yuan programme by adding a dozen additional banks as operators, confirming a Reuters report ‌last month. The 12 new banks allowed to handle the digital yuan include China CITIC Bank (601998.SS), opens new tab, China Everbright Bank (601818.SS), opens new tab, China Guangfa Bank, Shanghai Pudong Development Bank (600000.SS),

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UK joins global push to rein in children’s screen use with national guidance

LONDON, March 27 (Reuters) – Britain has told parents to curb young children’s screen time, advising no screens for under-2s and up to an hour a day for 2- to 5-year-olds because prolonged solo use can disrupt sleep and ‌displace play and exercise. Governments worldwide have been moving to tighten rules around children’s online use, with countries

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WTO members bypass opposition to introduce world’s first baseline digital trade rules

YAOUNDE, March 28 (Reuters) – A group of World Trade Organization members agreed on Saturday to sidestep adoption hurdles for the world’s first baseline on digital trade rules, opting to ‌bring the agreement into force among consenting participants, the WTO said.In recent years, efforts by a group of countries to fold the E-Commerce Agreement into

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Russia to give itself sweeping powers to ban or restrict foreign AI tools

March 20 (Reuters) – Foreign AI tools like Claude, ChatGPT and Gemini could be banned or restricted inside Russia ‌if they fail to adhere to new rules that would give Moscow sweeping powers to regulate the sector, according to government proposals published online.The proposals, published by Russia’s Ministry for Digital Development, would extend to the

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Pinterest CEO calls for ban on social media for youth under 16

WASHINGTON, March 20 (Reuters) – Pinterest CEO Bill Ready called on world leaders to ban social media ‌for youth under 16 in a LinkedIn post on Friday. Ready posted his statement while a trial is under way in Los Angeles about youth social media use. Google and Meta face allegations that their apps are fueling a youth mental

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Adobe shares drop as CEO exit fans uncertainty over AI strategy

March 13 (Reuters) – Adobe’s battered shares fell another 6% on Friday as news that the Photoshop maker’s long-time CEO would step down cast fresh doubts over its strategy to battle mounting AI competition. Shantanu Narayen is credited ‌with crafting the modern Adobe (ADBE.O), opens new tab by turning its creative tools into a subscription service with more

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Adobe pays $75 million to settle US lawsuit over termination fees, subscription cancellations

March 13 (Reuters) – Adobe (ADBE.O), opens new tab said on Friday it ‌will pay $75 million to resolve a U.S. government lawsuit accusing the Photoshop and Acrobat maker of harming consumers by concealing hefty termination fees and making it difficult to cancel subscriptions. The San Jose, California-based company said it will also provide $75 million of free

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