Tesla is a car company, no matter what Elon and his army of Long $TSLA hodlers will tell you. Artificial intelligence, or the fancy machine learning models and response generators often referred to as AI, is proving (at least in the short term) to be an expensive boondoggle aimed at replacing workers with computers. If … Read more
Asian equities fell as fresh signs of slowing US inflation bolstered rate cut bets and spurred a rotation out of big tech stocks on Wall Street. The yen was volatile. Japanese shares fell more than 1% after Thursday’s rally in the yen prompted speculation that authorities had stepped in with official support. The currency fluctuated … Read more
The Digital Services Tax is now in effect. Foreign tech giants must now pay a three per cent levy on revenue from Canadian users, retroactive to 2022, after the federal government enacted the measure with an order-in-council on June 28. Many of those large companies are based in the United States and the American government … Read more
The unceasing growth of Big Tech has been an article of faith for investors since the latest stock market rally began in October 2022. But with an uninspiring earnings outlook for the rest of 2024, other corners of the market will likely be needed if share prices are to keep soaring. “To have a similar … Read more
More than 200 civil advocacy groups urged leading technology companies to increase efforts to combat misinformation fueled by artificial intelligence (AI) ahead of elections across the globe, in a letter published Tuesday. The groups wrote top executives for popular technology companies including Google, Meta, Reddit, TikTok, YouTube and X, requesting “swift action” to reinforce their … Read more
Former Secretary of State Hillary Clinton argued Thursday that major tech companies should no longer receive widespread legal immunity for content posted on their websites under Section 230. Section 230 of the Communications Decency Act broadly protects social media platforms from being sued over the material people post to their sites. However, Clinton said these … Read more
A host of similarities between tech stocks now and previous bubbles suggest the Magnificent Seven is nearing — but not yet at — levels that may lead it to pop, according to Bank of America Corp. strategists. They cite a handful of indicators, such as bond yields, valuations and price action, that suggest there are … Read more
Representatives from Big Tech companies say a Liberal government bill that would begin regulating some artificial intelligence systems is too vague. Amazon and Microsoft executives told MPs at the House of Commons industry committee today that Bill C-27 doesn’t differentiate enough between high- and low-risk AI systems. The companies said abiding by the law as … Read more
Sen. Josh Hawley (R-Mo.) sent a letter urging Meta CEO Mark Zuckerberg to bankroll a compensation fund for victims harmed by the company’s social media platforms. “I urge you to immediately create a fund endowed by your own personal wealth for the purpose of compensating those who have been victimized by your platforms,” Hawley wrote. … Read more
