The weekend was a whirlwind of tech and market news. From a massive data privacy settlement for Meta Platforms META to a unique revenue-sharing agreement between the U.S. government and chip giants, the stories were as diverse as they were impactful.
Here’s a quick recap of the top stories that made headlines.
Facebook Users To Receive $725M Settlement Checks
Millions of U.S. Facebook users are finally set to receive their compensation for a data privacy breach that happened over a decade ago. The distribution of the settlement payments, overseen by Angeion, will begin in August and continue for 10 weeks.
Nvidia-AMD China Revenue Deal Praised By Treasury Secretary
Treasury Secretary Scott Bessent has lauded the 15% revenue-sharing agreement between the U.S. government and chip giants Nvidia Corp. and Advanced Micro Devices Inc.. The deal, announced by President Donald Trump, will see Nvidia and AMD contribute 15% of their China chip sales to the U.S. government.
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Intel Stock Surges Amid Talks of Trump Administration Stake
Shares of Intel Corp soared following a Bloomberg report that the Trump administration is considering taking a financial stake in the company. The potential investment is aimed at supporting Intel’s efforts to expand domestic manufacturing, particularly its struggling factory hub project in Ohio.
Tragic Death Raises Questions About AI Interactions
A 76-year-old New Jersey man died after attempting to meet a Meta Platforms, Inc. AI chatbot he believed was a real person. The incident has sparked fresh concerns about the safety and oversight of AI interactions.
AMD CEO Rejects Silicon Valley’s AI Talent War
AMD CEO Lisa Su has pushed back against the escalating million-dollar AI talent war in Silicon Valley. Su emphasized mission alignment and workplace impact over high salaries, stating that AMD will not match Meta Platforms, Inc.’s CEO Mark Zuckerberg’s reported $100 million compensation offers aimed at poaching top AI talent.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
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