META SHARES
India among most active countries for Meta's Threads
Meta's Threads boasts 175 million users, with India leading. Mark Zuckerberg highlights its impact. Cricket, like IPL, T20 World Cup, is popular, with 200 creators and players such as Rishabh Pant, Ravindra Jadeja, and Suresh Raina. Launched in July 2023, it gained 100 million sign-ups in a week. Other topics include film, TV, and OTT.
Reliance's app, stores may soon sport Shein
Reliance Retail Ventures is gearing up to launch Chinese fast-fashion label Shein in India, a year after forming a strategic partnership with the brand. The retailer plans to sell Shein products on its app and offline stores. Former Meta director Manish Chopra may lead Shein's operations in India. Shein aims to reduce dependence on China and leverage India's supply chain. The platform and data will be hosted and controlled by Reliance Retail.
AI is learning from what you said on Reddit, Stack Overflow or Facebook. Are you ok with that?
Some longtime users have attempted to erase their previous contributions or transform them into nonsense, but their efforts have not yielded significant results. A few governments, such as Brazil's privacy regulator on Tuesday, have also attempted to intervene. Meta has also encountered resistance in Europe, where it recently put on hold its plans to start feeding people's public posts into training AI systems
EU accuses Meta of breaking digital rules with paid ad-free option
Meta introduced a no-ads subscription service for Facebook and Instagram in Europe last November. The company stated that users who agree to tracking receive a free service supported by advertising revenue, while those who opt out can choose to pay to keep their data private.
Meta says it may block news from Facebook in Australia
Meta is considering blocking news content in Australia over licensing fees. The company awaits government decisions on fee regulations for tech giants, following similar actions in Canada. Agreements with Australian media may not be renewed, potentially impacting job cuts. Concerns arise over fraudulent ads and content moderation challenges within Meta.
Meta AI rolls out in India on WhatsApp, Facebook, Instagram
With this, people can use Meta AI in feeds and chats across its apps to get things done, create content, and deep dive into topics, without having to leave the app they are using, according to a statement by the social media giant.
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Meta AI assistant rolls out with text, and image features
Meta has launched Meta AI across WhatsApp, Facebook, and Instagram, offering text and image generation capabilities. Ryan Cairns, VP of Engineering at Meta, highlighted the advantages of Meta AI over competitors like Gemini, ChatGPT, and Copilot.
Amazon pledges $230 million to boost generative AI startups
The initiative will offer early stage companies AWS cloud computing credits, mentorship, and education to enhance their use of AI and machine learning technologies, according to the company. Participating startups will gain access to AWS computing, storage, database, and custom AI chip services through these credits.
Remove video recording of excise case court proceedings from social media: HC to Sunita Kejriwal
The Delhi High Court has ordered Sunita Kejriwal, wife of Chief Minister Arvind Kejriwal, to remove a video of court proceedings related to the excise policy case from social media. The video features Arvind Kejriwal addressing a trial court. A bench of justices Neena Bansal Krishna and Amit Sharma issued notices to Sunita Kejriwal, five others, and social media platforms X, Meta, and YouTube for alleged violation of video conferencing rules.
Meta will not launch Meta AI in Europe for now
Meta Platforms postpones Meta AI launch in Europe due to Irish privacy regulator's request on user data from Facebook and Instagram.
Govt, digital news publishers discuss revenue sharing with big tech companies
The DNPA had petitioned the government to evolve a revenue sharing mechanism with big technology companies such as Google and Meta that aggregate and distribute content created by others and monetise the internet traffic generated in the process.
Meta’s 450% surge offers potential for next tech stock split
An uptick in stock splits this year has analysts eyeing Meta Platforms Inc, the only stock in the Magnificent Seven that hasn't split shares. Trading at over $500, Meta is seen as ripe for a split, benefiting from AI exposure, buybacks, and a dividend introduction.
Meta Platforms to use social media posts from Europe to train AI
Meta Platforms plans to incorporate social media content from Europe to train its generative AI models using Llama large language models. NYOB challenges the move in Europe due to insufficient notifications about data usage.
Meta hit with privacy complaints over AI plans
A Vienna-based privacy group filed complaints against Meta in 11 European countries over unlawful AI data use. Microsoft announced a $3.2 billion AI investment in Sweden over two years, AMD unveiled new AI chips to challenge Nvidia, and Cisco plans a $1 billion investment in AI startups for secure AI services.
Can you opt out of Meta's AI scraping? Sort of
Meta announced the expansion of its AI services globally, using public information to train its AI starting June 26, sparking privacy concerns in Europe. Users in the U.S. were already subject to this practice. The program's future expansion remains uncertain.
Meta's WhatsApp launches new AI tools for businesses
Meta launches first AI-driven ad targeting program on WhatsApp to boost revenue. CEO Mark Zuckerberg unveils tools for businesses at a Brazil conference, shifting WhatsApp's stance on targeted advertising and enhancing customer engagement.
Nvidia's stunning gains increasingly power Wall Street's record run
Nvidia - which on Wednesday became the world's second-most valuable company following a 147% run this year - has alone accounted for about a third of the index's gain.
Meta hit with privacy complaints in Europe over AI plans
A Vienna-based privacy campaign group filed complaints in 11 European countries against Meta on Thursday, saying the global tech giant's planned privacy policy change would allow "unlawful" use of personal data for artificial intelligence technology. Through the complaints, the group asks data protection authorities in the 11 European countries to stop Meta's new privacy policy before it enters into force in late June and fully investigate it.
Nvidia's market cap hits $3 trillion briefly, overtaking Apple as second most valuable company
The latest rally in Nvidia comes as it prepares to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors.
Nvidia overtakes Apple as world's No. 2 most valuable company
Nvidia's stock hits record high, surpassing Apple to become second most valuable company at $3 trillion. Silicon Valley chipmaker to split stock ten-for-one on June 7. Microsoft remains the world's most valued company with market value at $3.15 trillion.
Dow slips nearly 1% as markets juggle data, technical glitches
Shares of megacaps including Apple and Meta gained between 0.8% and 2.1%, as yields on the benchmark U.S. 10-year and five-year notes fell around 10 basis points each. GameStop soared 24.1% after a weekend Reddit post from stocks influencer Keith Gill, also known as "Roaring Kitty", showed a $116 million bet on the gaming retailer.
Meta's Facebook says it is attracting most young adults in 3 years
Meta's Facebook app is attracting a high number of young adults, aiming to appeal to a younger audience compared to its older user base. The growth is attributed to efforts to compete with TikTok and engage users through features like Marketplace and Groups.
Nvidia and five tech giants now command 30% of the S&P 500 Index
The S&P 500 Index is now dominated by the six major US companies, Microsoft Corp., Apple Inc., Nvidia Corp., Alphabet Inc., Inc., and Meta Platforms Inc., marking a notable shift in market dynamics.
How AI made Mark Zuckerberg popular again in Silicon Valley
Meta's CEO, Mark Zuckerberg, introduced an open-source AI system, challenging closed models like OpenAI. Jeffrey Emanuel, a hacker and AI enthusiast, initially skeptical, was impressed by Meta's move to make the code freely accessible.
EU industry chief urges US to pass new tech rules, foster shared digital market
EU's industry chief calls for new tech regulations for global digital market. Leading in tech regulation with DMA and AI Act. U.S. facing antitrust lawsuit against Apple by Department of Justice.
US stocks bounce back ahead of long weekend
The Nasdaq index surged over 1% and was heading for its fifth consecutive week of gains, while the Dow Jones Industrial Average faced a potential first weekly loss in five after hitting a two-week low on Thursday. Trading activity is expected to be muted as the U.S. equity market is closed on Monday for Memorial Day.
Conversational commerce powered by Gen AI to spur next wave of growth for businesses: Bain & Company - Meta Report
Sandhya Devanathan, Head and VP, Meta in India, said the company sees business messaging as a key growth driver of its business in India. “We see it in terms of consumer behavior on our platforms, in terms of people using messaging to communicate with businesses, and we see that given the size of the WhatsApp platform and what users are asking for. 60% of the users of WhatsApp in India message a business every week,” she said.
Meta sinks 13%, sparks tech selloff as AI splurge spooks Wall Street
Shares of Meta Platforms sank 13% on Thursday, sparking a selloff in big technology stocks after the social media firm signaled its costly bet on AI could take years to pay off.
Meta shares sink on higher AI spending, light revenue forecast
Shares of the Facebook and Instagram parent dropped about 15% in extended trade following the report, its market capitalization plunging to about $1 trillion.
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