Plus, cloud startup Vultr raises $333 million for AI chips. And the Netherlands privacy regulator fines Netflix $4.8 million. Danny Lewis hosts.
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[00:00:16] Here's your TMB Tech Minute for Wednesday, December 18th. I'm Danny Lewis for The Wall Street Journal.
[00:00:23] The U.S. Supreme Court says it will decide whether a law that would effectively ban social media app TikTok violates the First Amendment.
[00:00:31] The justices took up the case just two days after TikTok and a group of content creators sought their intervention.
[00:00:37] Oral arguments are now scheduled for January 10th, just nine days before the ban is set to go into effect.
[00:00:43] The U.S. government says a ban is necessary because TikTok's data security measures failed to adequately insulate the platform and its data from Chinese control.
[00:00:52] TikTok's Beijing-based parent company, ByteDance, has said it can't and won't sell its U.S. business.
[00:00:59] We exclusively report that cloud startup Vulture has raised $333 million in a growth financing round, highlighting the demand for computing infrastructure for artificial intelligence.
[00:01:10] Chip giant Advanced Micro Devices and hedge fund Luminarch's Capital Management led the funding round, Vulture's first injection of outside capital.
[00:01:19] The company says it will use the financing to buy more graphics processing units to power its AI cloud services.
[00:01:26] And Netflix has been fined about $4.8 million by the Netherlands' privacy regulator.
[00:01:32] The Dutch Data Protection Authority says the streaming platform didn't give customers enough information on how it processed their personal data between 2018 and 2020, violating European rules on how companies store and manage information including age and email addresses.
[00:01:49] The regulator said Netflix gave too little and unclear information on why it collects personal data, how long it holds onto it, and what it shares with third parties.
[00:01:58] A Netflix spokesperson said the company has cooperated with the Dutch regulator and has clarified its privacy information for users.
[00:02:06] For a deeper dive into what's happening in tech, check out Thursday's Tech News Briefing podcast.