Plus, Amazon to boost pay for its delivery drivers following unionization threats. And Microsoft plans to layoff 650 workers from its gaming unit. Zoe Thomas hosts.
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[00:00:31] [SPEAKER_00]: Here's your TNB Tech Minute for Thursday, September 12.
[00:00:35] [SPEAKER_00]: I'm Zoe Thomas for the Wall Street Journal.
[00:00:38] [SPEAKER_00]: OpenAI is in talks to get investment from a company backed by the United Arab Emirates.
[00:00:43] [SPEAKER_00]: It's part of a multi-billion dollar fundraising round that would value the chat GPT maker at $150 billion,
[00:00:50] [SPEAKER_00]: according to people familiar with the matter.
[00:00:52] [SPEAKER_00]: The UAE created MGX earlier this year to invest in artificial intelligence projects.
[00:00:58] [SPEAKER_00]: It hasn't determined the size of a potential investment.
[00:01:01] [SPEAKER_00]: That's according to people with knowledge of the discussions.
[00:01:04] [SPEAKER_00]: Separately, OpenAI CEO Sam Altman has told investors the company is considering changing its corporate structure to be more attractive to them.
[00:01:13] [SPEAKER_00]: Currently, OpenAI has an unusual setup where investors can receive a capped share of profits from its for-profit subsidiary.
[00:01:21] [SPEAKER_00]: News Corp, owner of the Wall Street Journal, has a content licensing partnership with OpenAI.
[00:01:26] [SPEAKER_00]: We're exclusively reporting that Amazon is raising the wages of its delivery drivers following union organizing activity and changes to how labor officials view its drivers.
[00:01:38] [SPEAKER_00]: The e-commerce giant said it is investing about $2 billion into its delivery services program this year.
[00:01:45] [SPEAKER_00]: That will boost the average national pay for drivers by 7% from last year.
[00:01:50] [SPEAKER_00]: Drivers are hired by small businesses that Amazon calls Delivery Service Partners.
[00:01:55] [SPEAKER_00]: Those businesses decide drivers' salaries, and Amazon says it can only dictate the minimum pay.
[00:02:01] [SPEAKER_00]: Amazon says the minimum pay for drivers who deliver its packages will be between $19.50 and $25.25 an hour this year.
[00:02:09] [SPEAKER_00]: And Microsoft is laying off more workers from its video game business, as it looks to cut costs following its $75 billion acquisition of Activision Blizzard last year.
[00:02:19] [SPEAKER_00]: Around 650 employees will be cut, mostly workers in corporate and support roles.
[00:02:25] [SPEAKER_00]: The company is not canceling any games, devices or experiences, and will not close any studios.
[00:02:32] [SPEAKER_00]: That's according to a company email from the Microsoft Gaming CEO that has been viewed by the Wall Street Journal.
[00:02:38] [SPEAKER_00]: Microsoft's layoffs are part of a significant downsizing across the global games industry.
[00:02:44] [SPEAKER_00]: For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing Podcast.