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Here's the latest tech news from the last 24 hours:

🌍 Meta's new AI model speaks and translates 100 languages
💹 Arm's upcoming blockbuster IPO
🎮 Microsoft offers up streaming rights in Activision Blizzard deal
🐦 Twitter's 'X' rebranding leads to App Store download drop
🔥 Trudeau condemns Meta over news ban amid crisis

🌍 Meta's new AI model speaks and translates 100 languagesLINK

Meta has developed an AI model called SeamlessM4T that can translate and transcribe nearly 100 languages in text and speech, aiming to facilitate effective communication across language barriers.

SeamlessM4T is an advancement in AI-driven speech-to-speech and speech-to-text technology, and it stands out by recognizing source languages without requiring a separate language identification model.

Although SeamlessM4T shows promising results in translation and transcription, it may contain biases, particularly in gender-related translations, and Meta acknowledges challenges related to toxic content and loss of lexical richness in AI translation systems.

💹 Arm's upcoming blockbuster IPOLINK

Chip designer Arm has filed for a major initial public offering (IPO) on the Nasdaq stock exchange in the US, aiming for a valuation between $60 billion to $70 billion.

Arm's semiconductor architectures, widely used in mobile devices, have led to its expansion into AI, automotive, and cloud computing markets, with over 30 billion Arm-based chips shipped in the last fiscal year.

This IPO attempt follows the collapse of a previous $40 billion takeover deal by Nvidia in 2020 and could provide a boost to the currently sluggish IPO market and Softbank, Arm's owner.

🎮 Microsoft offers up streaming rights in Activision Blizzard dealLINK

Microsoft has adjusted its proposed $69 billion takeover of Activision Blizzard, offering to sell its rights to cloud gaming for Activision PC and console games outside the European Economic Area (EEA) to rival developer Ubisoft.

The UK's Competition and Markets Authority (CMA) had previously stated that Microsoft's original takeover plan could not proceed, and the new proposal will be subject to a Phase 1 investigation.

The restructured deal aims to address competition concerns, and while not a green light, the CMA will assess its details and impact on competition, marking a significant regulatory hurdle in the ongoing acquisition.

🐦 Twitter's 'X' rebranding leads to App Store download dropLINK

Elon Musk rebranded Twitter to "X," but the change negatively impacted app downloads, with the app's average ranking falling from 35 to 54 on the Apple App Store's "Top Downloaded" chart after the rebranding.

Media strategist Eric Seufert's analysis suggests that consumers might not be aware of the rebranding, leading to confusion in search results and little recognition of the new X branding in the App Store listing.

Comparative analysis of Twitter/X's performance against other social media platforms highlights Twitter's struggle to attract new users, raising concerns for revenue growth.

🔥 Trudeau condemns Meta over news ban amid crisisLINK

Meta has blocked news content on Facebook and Instagram in Canada since August 1 due to the country's online news bill requiring platforms to negotiate with news publishers.

The move has drawn criticism from Canadian officials, including heritage minister Pascale St-Onge, who called the decision "reckless" and noted that the law is not yet in effect.

Users and evacuees have expressed concerns about the ban hindering access to essential information, especially during emergencies such as wildfires, impacting Facebook's role in connecting people and sharing news in Canada.

Other news you might like

Elon Musk intends to remove news article headlines from Twitter's platform to make posts smaller and display more content, aiming for aesthetic improvement and potentially encouraging direct journalist contributions.LINK

Swedish battery producer Northvolt secures $1.2 billion from BlackRock and Canadian pension plans to construct new battery factories in North America and Europe, potentially capitalizing on US incentives for EV battery production; its funding totals $9 billion, showing strong investor confidence.LINK

Nvidia collaborates with top Half-Life 2 modding teams for Half-Life 2 RTX: An RTX Remix Project, remastering the game with ray tracing, DLSS, PBR, Reflex, and RTX IO, while also seeking contributions from experienced modders and artists.LINK

Zoom's Q2 results surpassed expectations, with earnings of $1.34 per share and revenue of $1.14 billion, but growth is slower due to normalized demand post-pandemic; management raised full-year guidance for fiscal 2024.LINK

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