All articles tagged with #bigtech
California’s Based Act, aimed at curbing platform self-preferencing in app stores and similar markets, was defeated after a massive lobbying blitz by Google, Apple, Amazon and other tech groups backed by the California Chamber of Commerce, underscoring the tech industry’s political clout in the state; the bill stalled in a key committee despite support from startups and consumer groups, with proponents hinting at possible revival.
Google, Microsoft, Meta, Amazon and other AI-focused firms joined the White House's Ratepayer Protection Pledge, promising to fund new electricity generation or capacity upgrades for their datacenters and to secure favorable utility rate arrangements, in an effort to prevent data centers from driving up consumer electricity costs. Experts warn the pledge could be more symbolic than effective if new generation can't be brought online quickly, as policymakers weigh energy affordability ahead of the midterm elections.
Investors are growing wary that the AI boom may be overheating as major tech firms unveil massive AI infrastructure expenditures (Amazon aiming $200B this year; total AI spending around $660B) and valuations slump by about $1.35 trillion, triggering a broad stock selloff in Microsoft, Nvidia, Alphabet, and Meta, while Apple bucks the trend with gains; the market is questioning near-term returns on these investments and whether a larger downturn is ahead.
Amid ongoing ICE protests, NYU marketing professor Scott Galloway urges a targeted February boycott of major tech and AI services (e.g., OpenAI’s ChatGPT, Amazon Prime Video, Microsoft Office) as a quieter, longer-term pressure tactic to influence immigration policy, arguing that a month-long consumer slowdown can ripple up to policymakers more effectively than a daylong protest; the piece also notes small businesses faced revenue losses during the nationwide strike and ongoing federal actions related to ICE.
Big Tech is tightening oversight as AI investments raise expectations, with Amazon, Meta, and others deploying productivity dashboards and revamped performance reviews to reward top performers and quantify value. The move signals a broader shift toward measurable output, driving anxiety and prompting measures like more frequent feedback and return-to-office mandates, alongside occasional layoffs in tight AI-enabled markets.
Datacenters have become a rare cross‑partisan flashpoint in the US, provoking broad local opposition while federal and state lawmakers struggle to counter industry-backed subsidies; Michigan’s stalled repeal of tax credits contrasts with ongoing, low-job, high-cost projects and a web of influence from tech, fossil fuels, and unions, illustrating how money and inertia impede decisive policy.
The recent momentum in US antitrust actions against Big Tech, particularly Google, has faced setbacks, with a court ruling limiting the remedies the government can pursue, signaling a potential slowdown in the tech antitrust renaissance.
President-elect Donald Trump has nominated Andrew Ferguson to lead the Federal Trade Commission, replacing Lina Khan. Ferguson, a Republican FTC commissioner, is expected to reverse many of Khan's consumer protection measures and anti-monopoly actions, aligning with Trump's "America First" agenda. Critics argue Ferguson's focus will be on combating "woke" policies rather than genuinely addressing Big Tech abuses, potentially favoring large corporations over consumer interests.
The Nasdaq Composite surged to a record high above 20,000 points, driven by gains in major tech stocks like Alphabet and Tesla. The rally was supported by a Consumer Price Index report showing 2.7% inflation, reinforcing expectations of a Federal Reserve rate cut. Meanwhile, Match Group shares fell due to currency exchange impacts, and Netflix hit a record high after a JPMorgan price target increase. Macy's shares dropped following a delayed earnings report and an accounting error investigation.
President-elect Donald Trump has appointed Andrew Ferguson, a Republican FTC commissioner, to lead the Federal Trade Commission, succeeding Lina Khan. Ferguson, known for his pro-innovation stance and opposition to Big Tech censorship, will inherit ongoing antitrust cases against major tech companies. His leadership may shift the agency's focus, particularly concerning social media censorship and antitrust enforcement. The FTC's current cases include actions against Amazon and Meta, with Ferguson's approach potentially altering the agency's direction on these and other issues.
Meta Platforms Inc. is seeking proposals from nuclear energy developers to support its AI and sustainability goals, aiming for 1-4 gigawatts of nuclear capacity in the U.S. by the early 2030s. This move aligns with other tech giants like Amazon, Google, and Microsoft, who are also investing in nuclear power to meet the energy demands of their AI initiatives. Meta's stock has risen significantly this year, driven by its AI investments and projected growth despite increased capital expenditures.
The U.S. Department of Justice plans to ask a judge to force Google to sell its Chrome browser following a ruling that the company illegally monopolized the search market. This move is part of broader efforts by the Biden administration to address Big Tech monopolies. Google argues that the DOJ's actions exceed the legal issues at hand and could harm consumers. The company intends to appeal the decision, with a final ruling expected by August 2025. The DOJ is also considering other remedies, such as ending exclusive agreements with companies like Apple.
Ecosia and Qwant, two European search engines, are collaborating to create a European search index to reduce reliance on Big Tech, particularly Microsoft and Google. This joint venture aims to lower operational costs, foster innovation, and enhance their generative AI capabilities. The initiative, called European Search Perspective (EUP), will initially serve France and Germany, with plans to expand further. The partnership seeks to offer a privacy-first search experience and promote European tech sovereignty amid rising API costs and geopolitical uncertainties.
Following Donald Trump's election win, tech stocks saw varied performances, with Tesla leading gains due to Elon Musk's support for Trump. Apple and TSMC faced potential challenges from proposed tariffs on China, impacting their supply chains. Google gained unexpectedly, possibly benefiting from anticipated regulatory rollbacks. Meta and Amazon might experience political overhangs due to Trump's animosity towards Big Tech and proposed tariffs, respectively, while Microsoft appears less affected by political changes.
Big Tech leaders, including Jeff Bezos, Tim Cook, and Mark Zuckerberg, have publicly congratulated President-elect Trump on his election victory, signaling a strategic pivot to align with the new administration. This outreach reflects the tech industry's anticipation of policy changes and potential anti-Big Tech rhetoric under Trump's leadership. CEOs are emphasizing collaboration with the administration to foster innovation and address key issues, while also preparing for possible shifts in antitrust and export control policies.