Plus, Irish regulators fine LinkedIn more than $300 million over its processing of users' personal data. And Intel wins its long-running fight to scrap a $1.14 billion EU antitrust fine. Zoe Thomas hosts.
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[00:00:04] [SPEAKER_00]: The Goldman Sachs podcast featuring exchanges on rates, inflation, and U.S. recession risk.
[00:00:12] [SPEAKER_00]: Exchanges on the market impact of AI. For the sharpest analysis on forces driving the markets
[00:00:18] [SPEAKER_00]: and the economy, count on exchanges between the leading minds at Goldman Sachs. New episodes
[00:00:24] [SPEAKER_01]: every week. Listen now. Here's your TNB Tech Minute for Thursday, October 24th. I'm Zoe
[00:00:36] [SPEAKER_01]: Thomas for The Wall Street Journal. UK antitrust officials say they're probing whether Google's
[00:00:43] [SPEAKER_01]: investment in artificial intelligence startup Anthropic poses a threat to competition. The
[00:00:49] [SPEAKER_01]: Competition and Markets Authority launched an initial review of the investment in July. Now
[00:00:54] [SPEAKER_01]: officials have opened a merger inquiry. A decision on whether or not a more in-depth investigation
[00:00:59] [SPEAKER_01]: is warranted is due by December 19th. Google agreed to raise its investment in Anthropic
[00:01:05] [SPEAKER_01]: to up to $2 billion late last year. A Google spokesman said the company is committed to building
[00:01:11] [SPEAKER_01]: the quote, most open and innovative AI ecosystem in the world. An Anthropic representative said
[00:01:17] [SPEAKER_01]: the startup would cooperate with the CMA. Anthropic, which offers an AI assistant known
[00:01:22] [SPEAKER_01]: as Claude, also has a partnership with Amazon, which poured $4 billion into it. Nearly a month ago,
[00:01:29] [SPEAKER_01]: British regulators cleared that partnership, saying it didn't qualify for an in-depth investigation.
[00:01:36] [SPEAKER_01]: LinkedIn has been fined about $334 million by Ireland's data protection watchdog for breaching
[00:01:43] [SPEAKER_01]: European Union data privacy and security law. In their decision, Irish officials said LinkedIn
[00:01:49] [SPEAKER_01]: wasn't sufficiently informing users when seeking their consent to process third-party data for
[00:01:56] [SPEAKER_01]: behavioral analysis and targeted advertising. The regulator ordered the platform to bring its
[00:02:01] [SPEAKER_01]: processing into compliance. A LinkedIn spokesman said the group was working to ensure its ad
[00:02:06] [SPEAKER_01]: practices comply with the decision, though it believes the company hasn't been in breach of the EU law.
[00:02:12] [SPEAKER_01]: And Intel has scored a win in Europe. The EU's top court today ruled the bloc couldn't reimpose a penalty
[00:02:20] [SPEAKER_01]: of around $1.14 billion on the company in a long-running case over alleged anti-competitive
[00:02:27] [SPEAKER_01]: practices. The European Commission levied the record fine in 2009. It said Intel had abused its
[00:02:34] [SPEAKER_01]: dominance in the market for computer chips known as x86 central processing units by paying manufacturers to
[00:02:42] [SPEAKER_01]: halt or delay the launch of specific products with competing chips. Officials also alleged the chipmaker
[00:02:48] [SPEAKER_01]: was handing out rebates to manufacturers on the condition that they bought x86 CPUs from Intel.
[00:02:55] [SPEAKER_01]: Multiple appeals by each side have caused the legal tussle to stretch on for 15 years. The court's
[00:03:02] [SPEAKER_01]: decision, however, is the final ruling and can't be appealed. An EU spokeswoman said the commission would
[00:03:08] [SPEAKER_01]: carefully study the decision. An Intel spokesman said the chipmaker was pleased with the decision.
[00:03:13] [SPEAKER_01]: For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing podcast.