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Forget the metaverse, AI is the money-spinner at Meta: Reality Labs lost $4.4 billion this quarter, but Mark Zuckerberg’s sharpened AI focus is delivering results – and there’s more to come with Llama 4 on the horizon
Meta posted strong financial results for the third quarter, indicating AI continues to be the company’s north star and driving significant revenue growth. The social media giant reported it generated $40.6 billion in sales, marking 19% year-on-year growth and outpaced analyst expectations that projected the company would only muster $40.19 billion in the quarter. Meta saw growth in user engagement,…
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The National Public Data breach exposed nearly three billion users – now the company has filed for bankruptcy
Data broker National Public Data has filed for bankruptcy, claiming it cannot sustain the mounting financial and reputational damage associated with a major data breach it suffered in December 2023. The background-checking service filed for bankruptcy in Florida under its parent company Jerico Pictures Inc, and explicitly cited the 2023 data breach as a direct contributor to its downfall. NPD…
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£6.3 billion data center investment marks major ‘vote of confidence’ for UK tech industry
Four US firms have announced plans to invest a total of £6.3 billion in data center infrastructure across the UK in a move described by technology secretary Peter Kyle as a ‘vote of confidence’ in Britain. The deals with CyrusOne, ServiceNow, CloudHQ, and CoreWeave, announced as part of this week’s International Investment Summit, bring the total investment in UK data…
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Blackstone confirms £10 billion data center in UK
Investment company Blackstone has confirmed a $13.3bn (£10bn) deal to build a data center in the north of England on the site of a failed venture to build electric batteries. The move comes weeks after the UK classed data centers as critical national infrastructure, and follows a stark warning from Google that the UK risks falling behind in the AI…
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Data center carbon emissions are set to skyrocket by 2030, with hyperscalers producing 2.5 billion tons of carbon – and power hungry generative AI is the culprit
Data center carbon emissions are set to skyrocket over the next decade, according to research from Morgan Stanley, with generative AI prompting a massive spike in power consumption. A study by the investment bank predicted that the data center industry at large will produce 2.5 billion tons of carbon through 2030. Notably, the research found this rapid increase is three-times…
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Google Overturns €1.5 Billion E.U. Antitrust Fine
Google has successfully overturned a €1.5 billion antitrust fine it was handed by the European Commission five years ago. Judges at the European General Court annulled the decision because the Commission had made errors in its assessment of the company’s advertising contracts. Specifically, the Commission had not demonstrated that Google’s contracts with publishers had potentially deterred innovation, helped the company…
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Microsoft signs off on $100 billion investment plan for data center development
Microsoft will partner with several investment companies to raise around $100 billion of capital for data center projects under a new ‘Global AI Infrastructure Investment Partnership’ (GAIIP). Supported by investment firms BlackRock, Global Infrastructure Partners (GIP), and MGX, Microsoft will work towards building and expanding on data center projects, including the energy infrastructure required to power them. Nvidia will also…
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OpenAI seeks $6.5 billion investment as costs continue to mount
OpenAI is seeking to raise $6.5 billion from investors with a further $5bn in credit from banks — valuing the AI startup at $150 billion. The Microsoft-backed AI startup hasn’t yet confirmed the investment. However the funding round is reportedly led by Thrive Capital and may include further investment from Microsoft, which has already invested $13bn in the company. The…
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Apple Must Pay Back €13 Billion in Unpaid Taxes to Ireland, E.U. Court Rules
Apple has been ordered to pay back €13 billion ($14.4 billion) worth of tax to Ireland by the European Court of Justice. Two of its subsidiaries illegally received tax benefits between 1991 and 2014, as these benefits were not available to other companies. Ireland issued tax rulings favouring Apple Sales International and Apple Operations Europe in 1991 and 2007, respectively.…
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AWS announces £8 billion UK investment in major expansion scheme
Amazon Web Services (AWS) has unveiled plans to invest £8 billion in the UK over the next five years as part of a major push to expand data center infrastructure across the country. The investment, which forms part of the company’s long-term commitment to the UK, is expected to create more than 14,000 jobs, with the majority supporting AWS’ data…
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