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Bloomberg8d agoneutral
Big Tech Stocks Storm Back as AI Fears Fade and Euphoria Resumes

(Bloomberg) -- After spending much of the year in the stock market doghouse over fears about their profligate spending on artificial intelligence, the world’s biggest technology companies are suddenly leading the way once again. Most Read from BloombergOpenAI’s New Device Will Be Hockey Puck-Sized and Cost Over $300Iran Wants to Bar US, Israeli Ships From Hormuz in Peace AccordIran Says Agreement on Hormuz Shipping Reached With OmanTrump Administration Considers Order on Autism and VaccinesIshbi

Meta Ordered to Pay $567 Million in Landmark Child Safety Ruling
InvestorsHub8d agoneutral
Meta Ordered to Pay $567 Million in Landmark Child Safety Ruling

Meta Platforms Inc (NASDAQ:META) has been ordered by a New Mexico court to pay $567 million into a dedicated fund supporting initiatives to address harm experienced by young users, in one of the most significant legal decisions to date involving child safety and social media platforms. The decision was issued by Judge Bryan Biedscheid of the First Judicial District Court in Santa Fe following a jury verdict delivered in March that concluded Meta had breached New Mexico’s consumer protection laws

Bloomberg8d agoneutral
AI Debt Indigestion Forces Wall Street to Rethink Bond Sales

(Bloomberg) -- When BlackRock Inc. sought to raise billions in debt financing for a Meta Platforms Inc. data center, there was one type of investor the asset management giant wanted to avoid: those looking for a quick profit.Most Read from BloombergOpenAI’s New Device Will Be Hockey Puck-Sized and Cost Over $300Iran Wants to Bar US, Israeli Ships From Hormuz in Peace AccordIran Says Agreement on Hormuz Shipping Reached With OmanTrump Administration Considers Order on Autism and VaccinesIshbia’s

Snap’s 2 Big Problems That Scream ‘Stay Away From the Stock’
Barrons.com8d agoneutral
Snap’s 2 Big Problems That Scream ‘Stay Away From the Stock’

Snap stock popped after it reported earnings, but soon crackled as the gains disappeared. Shares of Snap initially jumped 15% on Tuesday following its earnings release, as investors cheered stronger-than-expected revenue and earnings. All the growth is coming from the rest of the world, but those users aren’t very valuable, with average revenue per user (ARPU) of just $1, versus $10.26 in North America.

Meta ordered to pay almost $1bn over child safety failings
Sky News9d agoneutral
Meta ordered to pay almost $1bn over child safety failings

Meta, the owner of Facebook, Instagram and WhatsApp, has been ordered to pay $567m (£421m) to address the harm caused to children on its platforms. The ruling, handed down by a US judge in New Mexico, stipulates that the bulk of the money – $420m (£312m) – will be used for treatment services for young people, while the rest will go towards awareness and prevention, screening services and other costs over the next five years. The new penalty is in addition to the $375m (£280m) Meta was ordered to pay in damages after a jury ruled in March that the company had knowingly harmed children's mental health, taking the total to almost $1bn.

Meta ordered to pay $567 million in New Mexico for teen mental health fund
Reuters9d agoneutral
Meta ordered to pay $567 million in New Mexico for teen mental health fund

Aug 6 (Reuters) - A New Mexico state court ordered Meta on Thursday to pay $567 million into a teen mental health fund and change how its platforms function for young users after finding the company is to blame for harming children's wellbeing. Judge Bryan Biedscheid in Santa Fe ruled the company had created a public nuisance in ‌New Mexico, siding with Attorney General Raúl Torrez, a Democrat.

Meta ordered to pay $567 million in New Mexico for teen mental health fund
Reuters9d agoneutral
Meta ordered to pay $567 million in New Mexico for teen mental health fund

A New Mexico state court ordered Meta on Thursday to pay $567 million ‌and change how its platforms function for young users in the state ‌after finding the company is to blame for harming children's mental health. Judge Bryan Biedscheid in Santa Fe ​ruled the company had created a public nuisance in New Mexico, siding with the state's Attorney General Raúl Torrez, a Democrat. Torrez had accused the social media company of designing its products to addict young users and failing to protect children from ‌sexual exploitation on its platforms.

Bloomberg9d agoneutral
Nscale Touts $51 Billion in Contracts, Targets September US IPO

(Bloomberg) -- Nscale is telling prospective investors it has about $51 billion of total contracted revenue ahead of a US initial public offering that could take place as soon as in September, according to people familiar with the matter.Most Read from BloombergIran Says Agreement on Hormuz Shipping Reached With OmanGoogle AI Veterans Depart During Seismic Leadership ShiftWhy Do Data Centers Use So Much Fresh Water?Microsoft’s AI Sales Mostly Come From OpenAI, Disclosures ShowOpenAI Models Joine