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Anthropic is at the heart of the latest billion-dollar circular AI investment bonanza

1 day 23 hours ago
What do you get when you combine Anthropic, Microsoft, and Nvidia? A bubble that blows itself

It wouldn't be a week of tech news without more circular exchanges of billions of dollars between AI firms. This time around, it's a $45 billion back-scratching session involving Microsoft, Anthropic, and Nvidia, announced during Redmond's Ignite conference.…

Brandon Vigliarolo

ACLU and EFF Sue a City Blanketed With Flock Surveillance Cameras

2 days ago
An anonymous reader shares a report: Lawyers from the American Civil Liberties Union (ACLU) and Electronic Frontier Foundation (EFF) sued the city of San Jose, California over its deployment of Flock's license plate-reading surveillance cameras, claiming that the city's nearly 500 cameras create a pervasive database of residents movements in a surveillance network that is essentially impossible to avoid. The lawsuit was filed on behalf of the Services, Immigrant Rights & Education Network and Council on American-Islamic Relations, California, and claims that the surveillance is a violation of California's constitution and its privacy laws. The lawsuit seeks to require police to get a warrant in order to search Flock's license plate system. The lawsuit is one of the highest profile cases challenging Flock; a similar lawsuit in Norfolk, Virginia seeks to get Flock's network shut down in that city altogether. "San Jose's ALPR [automatic license plate reader] program stands apart in its invasiveness," ACLU of Northern California and EFF lawyers wrote in the lawsuit. "While many California agencies run ALPR systems, few retain the locations of drivers for an entire year like San Jose. Further, it is difficult for most residents of San Jose to get to work, pick up their kids, or obtain medical care without driving, and the City has blanketed its roads with nearly 500 ALPRs."

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Klarna Says AI Drive Has Helped Halve Staff Numbers and Boost Pay

2 days ago
Klarna has claimed that AI-related savings have allowed the buy now, pay later company to increase staff salaries by nearly 60%, but hinted it could slash more jobs after nearly halving its workforce over the past three years. From a report: Chief executive Sebastian Siemiatkowski said headcount had dropped from 5,527 to 2,907 since 2022, mostly as a result of natural attrition, with departing staff replaced by technology rather than by new staff members. The figures add to the impact of an internal artificial intelligence programme, which had steadily reduced its use of outsourced workers including those in customer service, with technology now carrying out the work of 853 full-time staff, up from 700 earlier this year. It meant the company, which was founded in Sweden in 2005, had managed to increase revenues by 108% while keeping operating costs flat. Siemiatkowski told analysts on an earnings call on Tuesday that it was "pretty remarkable, and unheard of as a number, among businesses."

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Oracle is Already Underwater On Its 'Astonishing' $300B OpenAI Deal

2 days 1 hour ago
An anonymous reader shares a report: It's too soon to be talking about the Curse of OpenAI, but we're going to anyway. Since September 10, when Oracle announced a $300 billion deal with the chatbot maker, its stock has shed $315 billion in market value. OK, yes, it's a gross simplification to just look at market cap. But equivalents to Oracle shares are little changed over the same period (Nasdaq Composite, Microsoft, Dow Jones US Software Index), so the $15 billion loss figure [figure updated with stock price] is not entirely wrong. Oracle's "astonishing quarter" really has cost it nearly as much as one General Motors, or two Kraft Heinz.

Read more of this story at Slashdot.

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