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Wall Street Journal Erin Mulvaney · Updated

Meta Ordered to Pay $25 Billion to New Mexico in Data-Privacy Case

The case centered on claims that Meta misled Facebook users about data privacy in connection with the Cambridge Analytica scandal. Jurors found more than 43 million consumer protection violations. Cambridge Analytica harvested Facebook data to target political advertising for the 2016 election, according to The Economic Times.

  • Quartz reports the penalty was reduced from $219.5 billion.
Bloomberg · Updated

Meta Offers Zuckerberg New Shares to Shield Him From Wealth Tax

Zuckerberg considered leaving the state over a proposed billionaire wealth tax that could require substantial stock sales and threaten his voting control. Meta's agreement would let him sell shares without diluting that control, giving him a financial incentive to remain near the company's headquarters despite a potential multibillion-dollar tax bill.

  • Meta's board feared his departure could disrupt its AI plans, according to Wired.
Engadget · Updated

EA is shutting down BioWare and cutting around 400 jobs

The shutdown ends development of the next Mass Effect game at the studio behind that series and Dragon Age. Roughly 50 of the affected jobs are at the Edmonton-based developer.

Decrypt · Updated

PHP Panic: Two Critical Bugs Put 70% of the Internet at Risk, and Everyone Is Freaking Out

The security release is scheduled for October 21 at 14:00 UTC, and administrators are being urged to prepare to upgrade. The vulnerabilities could allow remote code execution.

The Information ·

Meta Creates New Share Class to Pave Way for AI-Related Fundraising

The new stock would allow Meta to raise capital while preserving Mark Zuckerberg’s voting control. The company reported third-quarter revenue of $64.6 billion, up 26% from a year earlier, and its cash flow turned negative amid increased AI spending, according to The New York Times.

Bloomberg ·

DeepSeek Raises $15 Billion in Challenge to Leading US Labs

The Chinese AI pioneer DeepSeek has raised about 100 billion yuan ($15 billion) in its latest fundraising round, one of the country’s largest ever and a sign of the startup’s ambitions to compete globally with the likes of Anthropic PBC and OpenAI.

More stories

Tesla targets shipping Optimus to customers by the end of 2027 3 sources covering Tesla targets shipping Optimus to customers by the end of 2027

Elon Musk expects customer deliveries to begin at the end of 2027, according to Business Insider.

Business Insider ·
Walmart rolls out AI agent shopping features while Amazon tries to curb the tech 6 sources covering Walmart rolls out AI agent shopping features while Amazon tries to curb the tech

Customers will be able to authorize agents to buy items on their behalf, with spending limits and controls for approving and reviewing purchases.

Business Insider ·
GM promises smarter cars, faster updates, and autonomous dry-cleaning runs 5 sources covering GM promises smarter cars, faster updates, and autonomous dry-cleaning runs

GM is turning to artificial intelligence and autonomous driving as it seeks to compete with Chinese automakers.

The Verge ·
SpaceX and Tesla boards form special committees to review merger 24 sources covering SpaceX and Tesla boards form special committees to review merger

Elon Musk says the companies are considering a combination, with independent directors handling the review and Musk excluded from the discussions.

TechCrunch ·
CATL-Backed Noetix Robotics Is Said to File for Hong Kong IPO

Noetix Robotics has filed confidentially for a Hong Kong initial public offering that could raise several hundred million dollars, according to people familiar with the matter.

Bloomberg ·
AI research startup Flapping Airplanes raised $1 billion at a $6 billion valuation 6 sources covering AI research startup Flapping Airplanes raised $1 billion at a $6 billion valuation

Index Ventures and Lux Capital led the financing for the year-old AI research company, whose valuation has quadrupled since January.

Quartz ·
Microsoft Warns of Chinese State-Linked Cyberattacks Powered by AI Agent

Microsoft said it has observed cyberattacks by a Chinese state-aligned actor known as Storm-0940 that used a Chinese AI agent called Artex to automate the attacks targeting hundreds of organizations globally across a wide range of industries.

The Information ·
Airbnb bans making guests do dishes and take out the trash 2 sources covering Airbnb bans making guests do dishes and take out the trash

The updated house rules apply to reservations booked on or after November 20, according to The Verge, and prohibit tasks requiring significant effort.

The Verge ·
Texas Instruments Gives Sales Forecast That Tops Estimates 2 sources covering Texas Instruments Gives Sales Forecast That Tops Estimates

Automotive and industrial customers supported the stronger outlook, according to Bloomberg.

Bloomberg ·
SAP Cloud Growth Beats Forecast in Sign of Software’s Resilience 2 sources covering SAP Cloud Growth Beats Forecast in Sign of Software’s Resilience

SAP’s cloud products grew faster than expected, according to Bloomberg, which reported continued demand despite the artificial intelligence boom.

Bloomberg ·
Swedish legal AI firm Legora raises $550M led by Atreides at $8.8B valuation 8 sources covering Swedish legal AI firm Legora raises $550M led by Atreides at $8.8B valuation

Atreides Management led the Swedish legal AI startup’s Series E round, with new investors including Baron Capital, Capital Group, Fidelity Management & Research Company and Glade Brook Capital Partners.

The Next Web ·
Xbox Cloud Gaming’s pay-as-you-go option starts at $3.99 for 10 hours 6 sources covering Xbox Cloud Gaming’s pay-as-you-go option starts at $3.99 for 10 hours

The pay-as-you-go option lets players stream games without an Xbox Game Pass subscription.

The Verge ·
Tesla says it will start selling Cybercabs by end of year 2 sources covering Tesla says it will start selling Cybercabs by end of year

The robotaxis lack manual controls, and US auto safety regulators are investigating whether they comply with federal vehicle standards.

TechCrunch ·