Plus: China implements new restrictions on leaving the country amid intensifying tech race. And OpenAI quietly bought a smartphone camera startup. Danny Lewis hosts.
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[00:00:01] [SPEAKER_00] Here's your morning TNB Tech Minute for Tuesday, September 15. I'm Danny Lewis for The Wall Street Journal. We exclusively report that a Federal Reserve database used to monitor banks experienced a temporary outage last month. People familiar with the matter say the outage impacted the system's public-facing website, as well as internal systems that use public and confidential information to monitor banks, including the Fed's discount window, the central bank's primary channel for lending directly to banks, which can be crucial in a crisis.
[00:00:30] [SPEAKER_00] A Fed spokesperson said critical functions remained operational. China is imposing new travel restrictions as its tech race with the U.S. intensifies. Chinese citizens now face sweeping restrictions on exiting the country, preventing people from leaving China for months or years if they engage in, quote, criminal activities abroad that threaten national security or violate export controls related to industry or technology. The tech industry has already been affected by recent exit limitations.
[00:00:59] [SPEAKER_00] This spring, Beijing told two co-founders of AI firm Manus not to leave China after meta-platforms said it would buy the startup in December. Beijing forced Manus to unwind the deal on national security grounds. Foreigners visiting China are also subject to new rules to enter the country, including calls for punishment for providing false information on visa applications. And OpenAI has quietly bought a startup developing higher-quality cameras for smartphones.
[00:01:27] [SPEAKER_00] People familiar with the matter say the AI firm bought Glass Imaging in recent months. The people say the deal valued the camera startup at $300 million, three times what it was valued in a funding round last year. OpenAI's exact plans for glass imaging are unclear. The ChatGPT maker has been developing a secretive device with former Apple executive Jonathan Ive, who helped design the iPhone. News Corp, owner of The Wall Street Journal, has a content licensing partnership with OpenAI.
[00:01:55] [SPEAKER_00] That's your TNB Tech Minute. Join us again this afternoon for more. So if that's how the system looks...
[00:01:59] That's how the system looked and the system looks more... Like selling Jay, guys, you know...