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Rolling coverage of the latest economic and financial newsNvidia hits $3tn and surpasses Apple as world’s second most valuable companyIn a third AI development this morning, the Federal Trade Commission is investigating whether Microsoft deliberately structured a takeover deal to avoid a government antitrust review.The transaction in question involved AI startup Inflection. In March, Microsoft announced an unusual licening deal in which it paid $650m to use Inflections models and hired most of its staff, including its co-founders.The FTC is now drilling down on Microsoft’s deal with Inflection, seeking information about how and why they negotiated their partnership, according to a person familiar with the matter and records viewed by The Wall Street Journal.Civil subpoenas the commission sent recently to Microsoft and Inflection seek documents going back about two years. The agency is trying to determine whether Microsoft crafted a deal that would give it control of Inflection but also dodge FTC review of the transaction, the person said.Regulators are concerned that the nascent AI sector is “at the high-water mark of competition, not the floor” and must act “with urgency” to ensure that already dominant tech companies do not control the market, Kanter said.Sometimes the most meaningful intervention is when the intervention is in real time,” he added. “The beauty of that is you can be less invasive.” Continue reading…
Rolling coverage of the latest economic and financial news
Nvidia hits $3tn and surpasses Apple as world’s second most valuable company
In a third AI development this morning, the Federal Trade Commission is investigating whether Microsoft deliberately structured a takeover deal to avoid a government antitrust review.
The transaction in question involved AI startup Inflection. In March, Microsoft announced an unusual licening deal in which it paid $650m to use Inflections models and hired most of its staff, including its co-founders.
The FTC is now drilling down on Microsoft’s deal with Inflection, seeking information about how and why they negotiated their partnership, according to a person familiar with the matter and records viewed by The Wall Street Journal.
Civil subpoenas the commission sent recently to Microsoft and Inflection seek documents going back about two years. The agency is trying to determine whether Microsoft crafted a deal that would give it control of Inflection but also dodge FTC review of the transaction, the person said.
Regulators are concerned that the nascent AI sector is “at the high-water mark of competition, not the floor” and must act “with urgency” to ensure that already dominant tech companies do not control the market, Kanter said.
Sometimes the most meaningful intervention is when the intervention is in real time,” he added. “The beauty of that is you can be less invasive.”
