AI

Do Super Bowl Ads For AI Signal a Bubble About to Burst? (msn.com) 50

It's the first "AI" Super Bowl, argues the tech/business writer at Slate, with AI company advertisements taking center stage, even while consumers insist to surveyors that they're "mostly negative" about AI-generated ads.

Last year AI companies spent over $1.7 billion on AI-related ads, notes the Washington Post, adding the blitz this year will be "inescapable" — even while surveys show Americans "doubt the technology is good for them or the world..."

Slate wonders if that means history will repeat itself... The sheer saturation of new A.I. gambits, added to the mismatch with consumer priorities, gives this year's NFL showcase the sector-specific recession-indicator vibes that have defined Super Bowls of the past. 2022 was a pride-cometh-before-the-fall event for the cryptocurrency bubble, which collapsed in such spectacular fashion later that year — thanks largely to Super Bowl ad client Sam Bankman-Fried — that none of its major brands have ever returned to the broadcast. (... the coins themselves are once again crashing, hard.) Mortgage lender Ameriquest was as conspicuous a presence in the mid-2000s Super Bowls as it was an absence in the later aughts, having folded in 2007 when the risky subprime loans it specialized in helped kick off the financial crisis. And then there were all those bowl-game commercials for websites like Pets.com and Computer.com in 2000, when the dot-com rush brought attention to a slew of digital startups that went bust with the bubble.

Does this Super Bowl's record-breaking A.I. ad splurge also portend a coming pop? Look at the business environment: The biggest names in the industry are swapping unimaginable stacks of cash exclusively with one another. One firm's stock price depends on another firm's projections, which depend on another contractor's successes. Necessary infrastructure is meeting resistance, and all-around investment in these projects is riskier than ever. And yet, the sector is still willing to break the bank for the Super Bowl — even though, time and again, we've already seen how this particular game plays out.

People are using AI apps. And Meta has aired an ad where a man in rural New Mexico "says he landed a good job in his hometown at a Meta data center," notes the Washington Post. "It's interspersed with scenes from a rodeo and other folksy tropes, in one of . The TV commercial (and a similar one set in Iowa), aired in Washington, D.C., and a handful of other communities, suggesting it's aimed at convincing U.S. elected officials that AI brings job opportunities.

But the Post argues the AI industry "is selling a vision of the future that Americans don't like." And they offer cite Allen Adamson, a brand strategist and co-founder of marketing firm Metaforce, who says the perennial question about advertising is whether it can fix bad vibes about a product.

"The answer since the dawn of marketing and advertising is no."
Security

Cyber-Espionage Group Breached Systems in 37 Nations, Security Researchers Say (msn.com) 15

An anonymous reader shared this report from Bloomberg: An Asian cyber-espionage group has spent the past year breaking into computer systems belonging to governments and critical infrastructure organizations in more than 37 countries, according to the cybersecurity firm Palo Alto Networks, Inc. The state-aligned attackers have infiltrated networks of 70 organizations, including five national law enforcement and border control agencies, according to a new research report from the company. They have also breached three ministries of finance, one country's parliament and a senior elected official in another, the report states. The Santa Clara, California-based firm declined to identify the hackers' country of origin.

The spying operation was unusually vast and allowed the hackers to hoover up sensitive information in apparent coordination with geopolitical events, such as diplomatic missions, trade negotiations, political unrest and military actions, according to the report. They used that access to spy on emails, financial dealings and communications about military and police operations, the report states. The hackers also stole information about diplomatic issues, lurking undetected in some systems for months. "They use highly-targeted and tailored fake emails and known, unpatched security flaws to gain access to these networks," said Pete Renals, director of national security programs with Unit 42, the threat intelligence division of Palo Alto Networks....

Palo Alto Networks researchers confirmed that the group successfully accessed and exfiltrated sensitive data from some victims' email servers.

Bloomberg writes that according to the cybersecurity firm, this campaign targeted government entities in the Czech Republic and the Ministry of Mines and Energy of Brazil, and also "likely compromised" a device associated with a facility operated by a joint venture between Venezuela's government and an Asian tech firm.

The cyberattackers are "also suspected of being active in Germany, Poland, Greece, Italy, Cyprus, Indonesia, Malaysia, Mongolia, Panama, Greece and other countries, according to the report."
Businesses

Kalshi Claims 'Extortion,' Then Recants in Feud Over User Losses (bloomberg.com) 25

Kalshi, the largest U.S. prediction market, accused a small data startup called Juice Reel of "extortion" after a stock analyst used the company's transaction-level data to argue that prediction market users lose money faster than gamblers on traditional betting apps -- then walked the allegation back hours later.

The equity research analyst Jordan Bender at Citizens found that the bottom quarter of prediction market users lost about 28 cents of every dollar wagered in their first three months, compared to roughly 11 cents per dollar on sites like FanDuel and DraftKings. Kalshi's head of communications told Bloomberg the report was "flat-out wrong" and called the data an extortion attempt. Juice Reel CEO Ricky Gold said Kalshi had actually pressured him to tell Bloomberg the data was inaccurate. Kalshi later issued an updated statement saying it continued to dispute the findings but "after further review, we don't believe the intention was extortion." The company did not provide any data to counter the analysis.
Google

Google Plots Big Expansion in India as US Restricts Visas 92

Alphabet is plotting to dramatically expand its presence in India [non-paywalled source], with the possibility of taking millions of square feet in new office space in Bangalore, India's tech hub. From a report: Google's parent company has leased one office tower and purchased options on two others in Alembic City, a development in the Whitefield tech corridor, totaling 2.4 million square feet, according to people familiar with the deal. The first tower is expected to open to employees in the coming months, while construction on the remaining two is set to conclude next year.

Options in the real estate industry give would-be tenants the exclusive right to rent, or in some cases buy, a property at a predetermined price within a specific time frame. It's also possible Alphabet will not exercise the option to use the additional towers. If it does take all of the space, the complex could accommodate as many as 20,000 additional staff, which could more than double the company's footprint in India, said the people, asking not to be identified because the plans aren't public. Alphabet currently employs around 14,000 in the country, out of a global workforce of roughly 190,000.

[...] US President Donald Trump's visa restrictions have made it harder to bring foreign talent to America, prompting some companies to recruit more staff overseas. India has become an increasingly important place for US companies to hire, particularly in the race to dominate artificial intelligence.
Apple

The AI Boom Is Coming for Apple's Profit Margins (msn.com) 47

Apple's long-standing dominance over its electronics supply chain is eroding as AI companies outbid the iPhone maker for critical components like chips, memory and specialized glass fiber, giving suppliers the leverage to demand that Apple pay more. CEO Tim Cook acknowledged the pressure during a Thursday earnings call, noting constraints in chip supplies and significant increases in memory prices.

Nvidia has overtaken Apple as TSMC's largest customer, CEO Jensen Huang said on a podcast; Apple had held that position by a wide margin for years. DRAM prices are set to quadruple from 2023 levels by year-end and NAND prices will more than triple, according to TechInsights.

The firm estimates Apple could pay $57 more for memory in the base iPhone 18 due this fall compared to the base iPhone 17 currently on sale -- a significant hit on a device that retails for $799.
Communications

High-Speed Internet Boom Hits Low-Tech Snag: a Labor Shortage (msn.com) 94

The U.S. laid fiber-optic cables to a record number of homes last year as billions of dollars in federal broadband grants and a surge in data-center construction fueled an enormous buildout, but the industry does not have enough workers to sustain the pace.

A 2024 report by the Fiber Broadband Association and the Power & Communication Contractors Association projects 58,000 new fiber jobs between 2025 and 2032 and estimates 120,000 workers will leave the field in that period, mostly through retirement -- a combined shortage of 178,000. The gap is especially acute among splicers, who fuse hair-thin filaments by hand, and directional drill operators.

Telecommunications line installers and repairers earned annual median wages of $70,500 for the year ended May 2024, according to the Bureau of Labor Statistics, against a $49,500 national median. Push, a utility-construction firm, raised hourly pay for fiber crews by 5% to 8% in each of the past several years and expects the pace to quicken.
AI

Is AI Really Taking Jobs? Or Are Employers Just 'AI-Washing' Normal Layoffs? (nytimes.com) 66

The New York Times lists other reasons a company lays off people. ("It didn't meet financial targets. It overhired. Tariffs, or the loss of a big client, rocked it...")

"But lately, many companies are highlighting a new factor: artificial intelligence. Executives, saying they anticipate huge changes from the technology, are making cuts now." A.I. was cited in the announcements of more than 50,000 layoffs in 2025, according to Challenger, Gray & Christmas, a research firm... Investors may applaud such pre-emptive moves. But some skeptics (including media outlets) suggest that corporations are disingenuously blaming A.I. for layoffs, or "A.I.-washing." As the market research firm Forrester put it in a January report: "Many companies announcing A.I.-related layoffs do not have mature, vetted A.I. applications ready to fill those roles, highlighting a trend of 'A.I.-washing' — attributing financially motivated cuts to future A.I. implementation...."

"Companies are saying that 'we're anticipating that we're going to introduce A.I. that will take over these jobs.' But it hasn't happened yet. So that's one reason to be skeptical," said Peter Cappelli, a professor at the Wharton School... Of course, A.I. may well end up transforming the job market, in tech and beyond. But a recent study... [by a senior research fellow at the Brookings Institution who studies A.I. and work] found that AI has not yet meaningfully shifted the overall market. Tech firms have cut more than 700,000 employees globally since 2022, according to Layoffs.fyi, which tracks industry job losses. But much of that was a correction for overhiring during the pandemic.

As unpopular as A.I. job cuts may be to the public, they may be less controversial than other reasons — like bad company planning.

Amazon CEO Jassy has even said the reason for most of their layoffs was reducing bureaucracy, the article points out, although "Most analysts, however, believe Amazon is cutting jobs to clear money for A.I. investments, such as data centers."
Advertising

Is Meta's Huge Spending on AI Actually Paying Off? (msn.com) 26

The Wall Street Journal says that Meta "might be reaping some of the richest benefits from the AI boom so far." Meta's revenue grew 22% year over year in 2025 to $201 billion, and the company expects even bigger gains in the current quarter, potentially as high as 34%. That is huge growth for a company that brought in nearly $60 billion in the latest three-month period. And Zuckerberg signaled that Meta was just scratching the surface of AI's potential. "Our world-class recommendation systems are already driving meaningful growth across our apps and ads business. But we think that the current systems are primitive compared to what will be possible soon," he said on a call with investors and analysts...

[Meta's Chief Financial Officer Susan] Li said the company doubled the number of graphics-processing units that it used to train its ad-ranking model in the fourth quarter and adopted a new learning architecture. Those actions led users to click on ads on Facebook 3.5% more often and to a gain of more than 1% in conversions, meaning purchases, subscriptions or leads, on Instagram, she said. Other AI-related improvements led to a 3% increase in conversions across its family of apps. On the ad-buying side, Meta has also been working toward using AI to automate ad creation for businesses that want to advertise their products or services on Facebook and Instagram. On the call, Li said the combined revenue run rate of video-generation tools hit $10 billion in the fourth quarter.

In short, CNBC reported, Meta's stock price surged over 10% this week "after showing signs that AI investments are boosting the bottom line."

Benjamin Black, an internet analyst at Deutsche Bank, explained the connection to the Wall Street Journal. "The more compute the ad platform gets, the far better it performs, and that's a real structural advantage that Meta has. If you can see that yesterday's spend is driving this month's growth, then as a good business person, you're going to continue to feed the beast."

CNBC says now Meta "plans to spend between $115 billion and $135 billion on its AI build-out this year. That's nearly double what it spent in 2025."
Businesses

Nvidia CEO Denies OpenAI's $100B Investment from Nvidia is 'Stalled' (msn.com) 19

Saturday Nvidia CEO Jensen Huang said they still planned a "huge" investment in OpenAI, according to CNBC.

Friday the Wall Street Journal had reported that Nvidia's plan to invest up to $100 billion in OpenAI "has stalled after some inside the chip giant expressed doubts about the deal, people familiar with the matter said..." [T]he talks haven't progressed beyond the early stages, some of the people said. Now, the two sides are rethinking the future of their partnership, some of the people said. The latest discussions, they said, include an equity investment of tens of billions of dollars as part of OpenAI's current funding round. Nvidia CEO Jensen Huang has privately emphasized to industry associates in recent months that the original $100 billion agreement was nonbinding and not finalized, people familiar with the matter said. He has also privately criticized what he has described as a lack of discipline in OpenAI's business approach and expressed concern about the competition it faces from the likes of Google and Anthropic, some of the people said...

OpenAI is laying the foundation to go public by the end of 2026, and has spent much of the past year racing to secure large amounts of computing capacity to help power OpenAI's future products and growth. The stalled Nvidia pact is a blow to this effort and shows how Chief Executive Sam Altman's penchant for announcing flashy big-ticket deals carries the potential to backfire if the terms have yet to be finalized. In a joint announcement unveiling the September deal with Altman and OpenAI President Greg Brockman, Huang called the deal "the largest computing project in history...." OpenAI went on to sign a string of other agreements with chip and cloud companies that helped fuel a global stock market rally.

But investors have since grown jittery about the startup's ability to pay for these deals, leading to a sell-off in some tech stocks tied to OpenAI. Altman has said that the deals put the startup on the hook for $1.4 trillion in computing commitments — more than 100 times the revenue it was on pace to generate last year. OpenAI executives say the total commitments are lower when you account for overlap in some of the deals, and that the agreements will take place over a long period of time.... Huang has indicated to associates that he still believes it's crucially important to provide OpenAI with financial support in one form or another, in part because OpenAI is one of the chip designer's largest customers, people familiar with the matter said. If OpenAI were to fall behind other AI developers, it could dent Nvidia's sales.

"Speaking to reporters in Taipei, Huang said it was 'nonsense' to say he was unhappy with OpenAI," CNBC reported Saturday: "We are going to make a huge investment in OpenAI. I believe in OpenAI, the work that they do is incredible, they are one of the most consequential companies of our time and I really love working with Sam," he said, referring to OpenAI CEO Sam Altman. "Sam is closing the round (of investment) and we will absolutely be involved," Huang added. "We will invest a great deal of money, probably the largest investment we've ever made."

Asked whether it would be over $100 billion, he said: "No, no, nothing like that."

Elsewhere the Journal has reported that Amazon is in talks to invest up to $50 billion in OpenAI. Thanks to Slashdot reader sinij for sharing the article.
The Almighty Buck

Wall Street's Top Bankers Are Giving Coinbase's Brian Armstrong the Cold Shoulder (msn.com) 21

JPMorgan Chase CEO Jamie Dimon interrupted a conversation between Coinbase chief Brian Armstrong and former U.K. Prime Minister Tony Blair at Davos last week to tell Armstrong "You are full of s---," his index finger pointed squarely at Armstrong's face. Dimon told Armstrong to stop lying on TV, according to WSJ.

Armstrong had appeared on business programs earlier that week accusing banks of trying to sabotage the Clarity Act, legislation that would create a new regulatory framework for digital assets. He also accused banks of lending out customers' deposits "without their permission essentially."

The fight centers on stablecoin "rewards" -- regular payouts, say 3.5%, that exchanges like Coinbase offer for holding digital tokens. Banks typically offer under 0.1% on checking accounts and worry consumers will shift their money in droves to crypto. Other bank CEOs were similarly cold at Davos. Bank of America's Brian Moynihan gave Armstrong a 30-minute meeting and told him "If you want to be a bank, just be a bank." Citigroup's Jane Fraser offered less than a minute. Wells Fargo's Charlie Scharf said there was nothing for them to talk about. Armstrong had pulled support from a draft of the Clarity Act on January 14, posting on X that Coinbase would "rather have no bill than a bad bill."
AI

Amazon in Talks To Invest Up To $50 Billion in OpenAI 26

An anonymous reader shares a report: Amazon is in talks to invest up to $50 billion in OpenAI, according to people familiar with the matter, in what would be a giant bet on the hot AI startup. The ChatGPT maker is seeking up to $100 billion in new capital from investors, a round that could value it at as much as $830 billion, The Wall Street Journal previously reported.

Andy Jassy, Amazon's chief executive, is leading the negotiations with OpenAI CEO Sam Altman, according to some of the people. The exact shape of a deal, should one be reached, could still change, the people said. Investing tens of billions of dollars in OpenAI could make Amazon the biggest contributor in the AI company's ongoing fundraising round. SoftBank is in talks to invest up to $30 billion more in OpenAI as part of the round, adding to the Japanese conglomerate's already large stake in the startup.
The Almighty Buck

Universal Basic Income Could Be Used To Soften Hit From AI Job Losses In UK, Minister Says (theguardian.com) 190

An anonymous reader quotes a report from the Guardian: The UK could introduce a universal basic income (UBI) to protect workers in industries that are being disrupted by AI, the investment minister Jason Stockwood has said. "Bumpy" changes to society caused by the introduction of the technology would mean there would have to be "some sort of concessionary arrangement with jobs that go immediately", Lord Stockwood said. The Labour peer told the Financial Times: "Undoubtedly we're going to have to think really carefully about how we soft-land those industries that go away, so some sort of [universal basic income], some sort of lifelong mechanism as well so people can retrain."

A universal basic income is not part of official government policy, but when asked whether people in government were considering the need for UBI, Stockwood told the FT: "People are definitely talking about it." [...] While he has previously been a vocal proponent of a wealth tax in the UK, Stockwood told the FT he had not repeated his calls for the government to go further on taxing the rich. However, he added: "If you make your money and the first thing you do is you speak to a tax adviser to ask: 'Where can we pay the lowest tax?' we don't want those people in this country, I'd suggest, because you're not committed to your communities and the long-term success in this country."

The Courts

Google Settles $68 Million Lawsuit Claiming It Recorded Private Conversations (bbc.com) 22

An anonymous reader quotes a report from the BBC: Google has agreed to pay $68 million to settle a lawsuit claiming it secretly listened to people's private conversations through their phones. [...] the lawsuit claimed Google Assistant would sometimes turn on by mistake -- the phone thinking someone had said its activation phrase when they had not -- and recorded conversations intended to be private. They alleged the recordings were then sent to advertisers for the purpose of creating targeted advertising. The proposed settlement was filed on Friday in a California federal court, and requires approval by US District Judge Beth Labson Freeman.

The claim has been brought as a class action lawsuit rather than an individual case -- meaning if it is approved, the money will be paid out across many different claimants. Those eligible for a payout will have owned Google devices dating back to May 2016. But lawyers for the plaintiffs may ask for up to one-third of the settlement -- amounting to about $22 million in legal fees. The tech firm also denied any wrongdoing, as well as claims that it "recorded, disclosed to third parties, or failed to delete, conversations recorded as the result of a Siri activation" without consent.

Power

The Case Against Small Modular Nuclear Reactors (cnn.com) 146

Small modular nuclear reactors (or SMRs) are touted as "cheaper, safer, faster to build and easier to finance" than conventional nuclear reactors, reports CNN. Amazon has invested in X-Energy, and earlier this month, Meta announced a deal with Oklo, and in Michigan last month, Holtec began the long formal licensing process for two SMRs with America's Nuclear Regulatory Commission next to a nuclear plant it hopes to reactive. (And in 2024, California-based Kairos Power broke ground in Tennessee on a SMR "demo" reactor.)

But "The reality, as ever, is likely to be messier and experts are sounding notes of caution..." All the arguments in favor of SMRs overlook a fundamental issue, said Edwin Lyman, director of nuclear power safety at the Union of Concerned Scientists: They are too expensive. Despite all the money swilling around the sector, "it's still not enough," he told CNN. Nuclear power cannot compete on cost with alternatives, both fossil fuels and increasingly renewable energy, he said."

Some SMRs also have an issue with fuel. The more unconventional designs, those cooled by salt or gas, often require a special type of fuel called high-assay low-enriched uranium, known as HALEU (pronounced hay-loo). The amounts available are limited and the supply chain has been dominated by Russia, despite efforts to build up a domestic supply. It's a major risk, said Nick Touran [a nuclear engineer and independent consultant]. The biggest challenge nuclear has is competing with natural gas, he said, a "luxury, super expensive fuel may not be the best way." There is still stigma around nuclear waste, too. SMR companies say smaller reactors mean less nuclear waste, but 2022 research from Stanford University suggested some SMRs could actually generate more waste, in part because they are less fuel efficient...

As companies race to prove SMRs can meet the hype, experts appear to be divided in their thinking. For some, SMRs are an expensive — and potentially dangerous — distraction, with timelines that stretch so far into the future they cannot be a genuine answer to soaring needs for clean power right now.

Nuclear engineering/consultant Touran told CNN the small reactors are "a technological solution to a financial problem. No venture capitalists can say, like, 'oh, sure, we'll build a $30 billion plant.' But, if you're down into hundreds of millions, maybe they can do it."
EU

EU Parliament Calls For Detachment From US Tech Giants (heise.de) 102

The European Parliament is calling on the European Commission to reduce dependence on U.S. tech giants by prioritizing EU-based cloud, AI, and open-source infrastructure. The report frames "European Tech First," public procurement reform, and Public Money, Public Code as necessary self-defense against growing U.S. control over critical digital infrastructure. Heise reports: In terms of content, the report focuses on a strategic reorientation of public procurement and infrastructure. The compromise line adopted stipulates that member states can favor European tech providers in strategic sectors to systematically strengthen the technological capacity of the Community. The Greens even called for a stricter regulation here, where the use of products "Made in EU" should become the rule and exceptions would have to be explicitly justified. They also pushed for a definition for cloud infrastructure that provides for full EU jurisdiction without dependencies on third countries.

With the decision, the MEPs want to lay the foundation for a European digital public infrastructure based on open standards and interoperability. The principle of Public Money, Public Code is anchored as a strategic foundation to reduce dependence on individual providers. Software specifically developed for administration with tax money should therefore be made available to everyone under free licenses. For financing, the Parliament relies on the expansion of public-private investments. A "European Sovereign Tech Fund" endowed with ten billion euros was discussed beforehand, for example, to specifically build strategic infrastructures that the market does not provide on its own. The shadow rapporteur for the Greens, Alexandra Geese, sees Europe ready to take control of its digital future with the vote. As long as European data is held by US providers subject to laws such as the Cloud Act, security in Europe is not guaranteed.

China

China Lagging in AI Is a 'Fairy Tale,' Mistral CEO Says (msn.com) 57

Claims that Chinese technology for AI lags the US are a "fairy tale," Arthur Mensch, the chief executive officer of Mistral, said. From a report: "China is not behind the West," Mensch said in an interview on Bloomberg Television at the World Economic Forum in Davos, Switzerland on Thursday. The capabilities of China's open-source technology is "probably stressing the CEOs in the US."

The remarks from the boss of one of Europe's leading AI companies diverge from other tech leaders at Davos, who reassured lawmakers and business chiefs that China is behind the cutting edge by months or years.

The Almighty Buck

'America Is Slow-Walking Into a Polymarket Disaster' (theatlantic.com) 55

In an opinion piece for The Atlantic, senior editor Saahil Desai argues that media outlets are increasingly treating prediction markets like Polymarket and Kalshi as legitimate signals of reality. The risk, as Desai warns, is a future where news coverage amplifies manipulable betting odds and turns politics, geopolitics, and even tragedy into speculative gambling theater. Here's an excerpt from the report: [...] The problem is that prediction markets are ushering in a world in which news becomes as much about gambling as about the event itself. This kind of thing has already happened to sports, where the language of "parlays" and "covering the spread" has infiltrated every inch of commentary. ESPN partners with DraftKings to bring its odds to SportsCenter and Monday Night Football; CBS Sports has a betting vertical; FanDuel runs its own streaming network. But the stakes of Greenland's future are more consequential than the NFL playoffs.

The more that prediction markets are treated like news, especially heading into another election, the more every dip and swing in the odds may end up wildly misleading people about what might happen, or influencing what happens in the real world. Yet it's unclear whether these sites are meaningful predictors of anything. After the Golden Globes, Polymarket CEO Shayne Coplan excitedly posted that his site had correctly predicted 26 of 28 winners, which seems impressive -- but Hollywood awards shows are generally predictable. One recent study found that Polymarket's forecasts in the weeks before the 2024 election were not much better than chance.

These markets are also manipulable. In 2012, one bettor on the now-defunct prediction market Intrade placed a series of huge wagers on Mitt Romney in the two weeks preceding the election, generating a betting line indicative of a tight race. The bettor did not seem motivated by financial gain, according to two researchers who examined the trades. "More plausibly, this trader could have been attempting to manipulate beliefs about the odds of victory in an attempt to boost fundraising, campaign morale, and turnout," they wrote. The trader lost at least $4 million but might have shaped media attention of the race for less than the price of a prime-time ad, they concluded. [...]

The irony of prediction markets is that they are supposed to be a more trustworthy way of gleaning the future than internet clickbait and half-baked punditry, but they risk shredding whatever shared trust we still have left. The suspiciously well-timed bets that one Polymarket user placed right before the capture of Nicolas Maduro may have been just a stroke of phenomenal luck that netted a roughly $400,000 payout. Or maybe someone with inside information was looking for easy money. [...] As Tarek Mansour, Kalshi's CEO, has said, his long-term goal is to "financialize everything and create a tradable asset out of any difference in opinion." (Kalshi means "everything" in Arabic.) What could go wrong? As one viral post on X recently put it, "Got a buddy who is praying for world war 3 so he can win $390 on Polymarket." It's a joke. I think.

Businesses

Ubisoft Cancels Six Games, Slashes Guidance in Restructuring (msn.com) 23

Ubisoft is canceling game projects, shutting down studios and cutting its guidance as the Assassin's Creed maker restructures its business into five units. From a report: The French gaming firm expects earnings before interest and tax to be a loss of $1.2 billion the fiscal year 2025-2026 as a result of the restructuring, driven by a one-off writedown of about $761 million, the company said in a statement on Wednesday.

Ubisoft also expects net bookings of around $1.76 billion for the year, with a $386 million gross margin reduction compared to previous guidance, it said. Six games, including a remake of Prince of Persia The Sands of Time, have been discontinued and seven other unidentified games are delayed, the company said. The measures are part of a broader plan to streamline operations, including closing studios in Stockholm and Halifax, Canada. Ubisoft said it will have cut at least $117 million in fixed costs compared to the latest financial year by March, a year ahead of target, and has set a goal to slash an additional $234 million over the next two years.

AI

Comic-Con Bans AI Art After Artist Pushback (404media.co) 45

San Diego Comic-Con changed an AI art friendly policy following an artist-led backlash last week. From a report: It was a small victory for working artists in an industry where jobs are slipping away as movie and video game studios adopt generative AI tools to save time and money. Every year, tens of thousands of people descend on San Diego for Comic-Con, the world's premier comic book convention that over the years has also become a major pan-media event where every major media company announces new movies, TV shows, and video games. For the past few years, Comic-Con has allowed some forms of AI-generated art at this art show at the convention.

According to archived rules for the show, artists could display AI-generated material so long as it wasn't for sale, was marked as AI-produced, and credited the original artist whose style was used. "Material produced by Artificial Intelligence (AI) may be placed in the show, but only as Not-for-Sale (NFS). It must be clearly marked as AI-produced, not simply listed as a print. If one of the parameters in its creation was something similar to 'Done in the style of,' that information must be added to the description. If there are questions, the Art Show Coordinator will be the sole judge of acceptability," Comic-Con's art show rules said until recently.

AI

CEOs Say AI is Making Work More Efficient. Employees Tell a Different Story. (msn.com) 66

Companies are spending vast sums on AI expecting the technology to boost efficiency, but a new survey from AI consulting firm Section found that two-thirds of non-management workers among 5,000 white-collar respondents say they save less than two hours a week or no time at all, while more than 40% of executives report the technology saves them upward of eight hours weekly.

Workers were far more likely to describe themselves as anxious or overwhelmed about AI than excited -- the opposite of C-suite respondents -- and 40% of all surveyed said they would be fine never using AI again. A separate Workday report of roughly 1,600 employees found that though 85% reported time savings of one to seven hours weekly, much of it was offset by correcting errors and reworking AI-generated content -- what the company called an "AI tax" on productivity.

At the World Economic Forum in Davos this week, a PricewaterhouseCoopers survey of nearly 4,500 CEOs found more than half have seen no significant financial benefit from AI so far, and only 12% said the technology has delivered both cost and revenue gains.

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