FTC launches probe into AI investments, deals by Microsoft, Amazon and more
NY Post
The Federal Trade Commission said Thursday it had issued orders to OpenAI, Microsoft, Alphabet, Amazon and Anthropic, requiring them to provide information on recent investments and partnerships involving generative AI companies and cloud service providers.
The orders are part of an inquiry that “will scrutinize corporate partnerships and investments with AI providers to build a better internal understanding of these relationships and their impact on the competitive landscape,” the FTC said in a statement.
The agency said the companies will have 45 days from the date they receive the order to respond.
Earlier this month, Politico reported the Justice Department and FTC were in discussions over which agency can probe ChatGPT maker OpenAI on antitrust grounds, including the AI firm’s partnership with Microsoft.
Microsoft’s tie-up with OpenAI has raised antitrust scrutiny after the software giant committed to invest over $10 billion into OpenAI last year.
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Saks Global — owner of luxury stores including Saks Fifth Avenue and Neiman Marcus — is cutting over 1,200 jobs as it shutters more than a dozen locations nationwide following its bankruptcy filing earlier this year.
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At the start of his term in January, Mayor Mamdani had the Big Apple’s lenders in his corner — despite his plans to remake the Big Apple economy under his socialist agenda.