Tag: Artificial intelligence

AICybersecuritySoftware

Reddit Takes Legal Action Against Perplexity AI and Data Firms for Alleged Content Scraping

Reddit has initiated legal proceedings against Perplexity AI and several data-scraping firms for alleged unauthorized content extraction. The lawsuit claims these companies violated copyright laws by harvesting and reselling Reddit’s user-generated content. This marks the second such action Reddit has taken against AI companies this year.

Legal Action Over Data Scraping Practices

Reddit has filed a federal lawsuit against artificial intelligence company Perplexity AI and three data-scraping firms, alleging unauthorized collection and use of its content, according to court documents reviewed by Bloomberg. The complaint, submitted Wednesday in Manhattan federal court, names data-scraping companies Oxylabs UAB, AWMProxy, and SerpApi as defendants alongside Perplexity AI.

by Natalie Brooks
AIBusinessStartups

Meta Cuts 600 Positions From AI Superintelligence Lab Amid Massive Tech Investment Push

Meta has reportedly eliminated 600 positions from its AI superintelligence research lab. The cuts come as the tech giant plans unprecedented capital expenditures exceeding $60 billion for artificial intelligence development in 2025.

Major Workforce Reduction at Meta’s AI Research Division

Meta has reportedly eliminated approximately 600 positions from its specialized artificial intelligence superintelligence laboratory, according to sources familiar with the matter. The lab, which focuses on developing AI systems that would potentially surpass human intelligence, was established in June following Meta’s announcement of a $14.3 billion investment in Scale AI, the company founded by entrepreneur Alexandr Wang.

by Natalie Brooks
BusinessTechnology

Wells Fargo Boosts Apple Price Target to $290 on Strong iPhone 17 and AI Prospects

Analysts at Wells Fargo have significantly increased Apple’s price target from $245 to $290 ahead of quarterly earnings. The bullish move reflects confidence in iPhone 17 performance and Apple’s emerging AI strategy, with the company positioned to potentially make artificial intelligence mainstream.

Major Price Target Increase

Wells Fargo has reportedly raised its price target for Apple stock from $245 to $290, according to an investor note released on October 21. The significant increase represents a bullish outlook on the technology giant’s near-term prospects, particularly driven by expectations for the iPhone 17 and Apple’s evolving artificial intelligence initiatives.

by Darren Holt