Plus, General Motors lays off 1,000 workers. And Samsung plans a massive share buyback program. James Rundle hosts.
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[00:00:16] Here's your TNB Tech Minute for Friday, November the 15th. I'm James Rundle for The Wall Street Journal.
[00:00:22] Elon Musk has ramped up his ongoing legal disputes with OpenAI and Microsoft. He filed an amended lawsuit that claims the two companies colluded to drive out competition in developing artificial intelligence.
[00:00:35] Musk alleges that Microsoft and OpenAI discouraged investors in OpenAI's recent $6.6 billion funding round from investing in other AI companies.
[00:00:44] Musk was a co-founder of OpenAI until he stepped down from its board of directors in 2018.
[00:00:50] The lawsuit is the third major filing he has made against Microsoft and OpenAI. Musk founded a competitor, XAI, last year.
[00:00:58] A spokesman for OpenAI described Musk's claims as baseless. Microsoft didn't respond to a request for comment.
[00:01:05] News Corp, owner of The Wall Street Journal and Dow Jones Newswires, has a content licensing partnership with OpenAI.
[00:01:12] General Motors has cut around 1,000 jobs as it attempts to trim costs while it builds up sales for its electric vehicle division.
[00:01:19] That's according to a person familiar with the reductions. The cuts come just months after GM laid off a similar number of people in its software and services division.
[00:01:28] Like other automakers, GM is facing the need to invest billions of dollars in building out its EV offering while also fending off competition from China and dealing with economic uncertainty.
[00:01:39] The company confirmed that it had made staff reductions in a statement.
[00:01:44] And Samsung is preparing one of its largest ever share buyback schemes.
[00:01:48] The South Korean tech giant plans to repurchase shares worth more than $7 billion over the next year.
[00:01:54] The plan comes as investors remain concerned that Samsung's memory chip business is missing out on the AI boom that has supercharged stock prices at rivals.
[00:02:03] Samsung shares are down 32% in the year to date.
[00:02:06] For a deeper dive into what's happening in tech, check out Monday's Tech News Briefing podcast.
[00:02:11] So how are we doing, see how much of it is coming out there?
[00:02:11] For a deeper dive into your Play24-74 expansion come out here today.
[00:02:11] I want to go with them and get lost.
[00:02:11] So how's the quality of the product is coming out?
[00:02:11] I want to make it to work.