Good morning! This is your daily ☕️ Techpresso.
On this day, 24 years ago, the RIAA filed a lawsuit against Napster for copyright infringement, leading to the service's shutdown and a settlement costing Napster's backers hundreds of millions of dollars.
Here's the latest tech news from the last 24 hours:
🖼️ Meta launches a standalone AI-powered image generator
🍪 AMD rolls out new rival to Nvidia's AI chip
🚗 Tesla strike continues to grow, now making its way to Norway
💸 Spotify CFO cashes in $9.4m in shares after value surges on news of job cuts
😬 Mozilla raked in almost $600 million in 2022, thanks to Google
🖼️ Meta launches a standalone AI-powered image generatorLINK
Meta has launched 'Imagine with Meta,' a standalone web-based AI-powered image generator, similar to Google's Gemini, OpenAI's DALL-E, and others, allowing users to create high-resolution images from text descriptions. The tool, powered by Meta's Emu image generation model, is free for U.S. users and generates four images per prompt, with plans to include invisible watermarks for increased transparency and traceability. Amidst concerns over AI-generated content's authenticity and ethical use, Meta's move adds to the growing industry trend towards clearer marking of AI-generated works, aligning with global regulatory pressures for transparency.
🍪 AMD rolls out new rival to Nvidia's AI chipLINK
AMD announced new Instinct MI300X accelerators and MI300A APUs, designed to significantly speed up AI training with improved memory capacity and energy efficiency. The MI300X, compared favorably against Nvidia's H100, will be used in Microsoft Azure virtual machines and Meta data centers, enhancing the speed of AI model training. AMD's Ryzen 8040 mobile processors, featuring integrated neural processing units, are set to enhance AI processing in laptops, further supporting faster AI model development.
🚗 Tesla strike continues to grow, now making its way to NorwayLINK
Norwegian unions join Denmark in blocking Tesla vehicle shipments to Sweden over labor disputes.
Tesla insists its workers have better rights than unionized employees, while Norway pushes for collective bargaining agreements.
The strike is escalating in Europe, with Norway being the third country to act against Tesla, signaling a growing solidarity movement.
💸 Spotify CFO cashes in $9.4m in shares after value surges on news of job cutsLINK
Spotify's CFO Paul Vogel sold shares worth $9.4m as the company's value increased following the announcement of job cuts.
The company's shares rose by up to 8% after the layoff news, with two other executives also selling over $1.6m in shares.
Spotify aims to cut costs amid profitability challenges, leading to a workforce reduction by nearly a fifth.
😬 Mozilla raked in almost $600 million in 2022, thanks to GoogleLINK
Mozilla reported a 2022 revenue of $593 million, mainly thanks to a lucrative search engine deal with Google.
The company's expenses rose to $425 million, focusing on software development and marketing efforts to remain competitive.
Despite losing Firefox users, Mozilla's net assets increased, signaling a stronger financial position amidst diversifying revenue strategies.
Other news you might like
ChatGPT beaten by 1960s computer program in Turing test study.LINK
California's tech billionaires face fierce local opposition in their quest to develop a new utopian city, amid mistrust and contentious town halls.LINK
SpaceX seeks a $175 billion valuation, offering shares at $95 each in a potential tender offer.LINK
Next Starship launch will see Moon mission tech tested, Nasa says.LINK
Meta finally implements default end-to-end encryption for Messenger, enhancing security for users but group chat encryption remains optional.LINK
Amazon's leaked memo details strategies to counter labor activism and reputation challenges in Southern California while influencing local politics and legislation.LINK
Sports Illustrated owner The Arena Group ousted COO Kraft and President Barrett amidst restructuring and an AI-generated content controversy.LINK
Steve Jobs' 1976 check to Radio Shack signed on an early Apple account surfaces for auction, exceeding $30,000 bids.LINK
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