German Activists Sue X Over Lack of Election Influence Data

/in /tarafından

Two activist groups have filed a lawsuit against Elon Musk’s social media platform X, accusing it of violating European law by refusing to provide necessary data to track disinformation ahead of Germany’s national election on February 23. The Society for Civil Rights (GFF) and Democracy Reporting International (DRI) claim that X is not offering systematic access to important information, such as the reach of posts, likes, and shares, which other platforms have made available for monitoring.

According to Michael Meyer-Resende of DRI, the groups have the right to access this data under the European Union’s Digital Services Act. Despite requests, X has not granted access to the data needed for tracking public debates on the platform.

The lawsuit comes amid heightened concerns over online disinformation ahead of elections in Europe, especially after the controversial presidential election in Romania in 2024, which was allegedly influenced by a Russian-driven social media campaign, though Moscow denied any involvement.

The situation is further complicated by Musk’s endorsement of Germany’s far-right political party, Alternative for Germany (AfD), and his continued influence over the platform. Since taking control of Twitter (now X), Musk has limited access to data for researchers, charging for what was previously free, raising concerns about transparency and potential misuse of the platform in democratic processes.

 

AMD’s $4.9 Billion Acquisition of ZT Systems Faces EU Antitrust Review

/in /tarafından

The European Union’s antitrust regulators are set to make a decision by March 12 on U.S. chipmaker AMD’s $4.9 billion acquisition of server manufacturer ZT Systems. AMD announced the acquisition in August 2024, which aims to strengthen its portfolio of artificial intelligence (AI) chips and hardware to better compete with rivals such as Nvidia.

ZT Systems specializes in AI infrastructure, serving some of the world’s largest hyperscale computing companies, including Microsoft and Meta Platforms. The EU’s preliminary review could result in the deal being approved, either with or without conditions. However, if the European Commission has significant concerns, it could initiate a four-month investigation into the deal.

This acquisition is part of AMD’s strategy to expand its presence in the AI sector, where it faces intense competition from Nvidia, which currently dominates the AI chip market.

 

Strategy Reports Fourth Consecutive Quarterly Loss, Rebrands to Focus on Bitcoin

/in /tarafından

Strategy (formerly known as MicroStrategy) reported its fourth straight quarterly loss on Wednesday, driven by a significant impairment charge on its bitcoin holdings. The Tysons Corner, Virginia-based company posted impairment losses of $1.01 billion for the quarter, a sharp rise from $39.2 million the previous year.

Founded by Michael Saylor, Strategy has become one of the largest corporate holders of bitcoin, benefiting from the cryptocurrency’s rising popularity. In 2020, the company shifted focus toward bitcoin as its software business revenue declined. Last year, it announced plans to raise $42 billion over three years to expand its bitcoin holdings, having already invested $20 billion toward that goal. As of February 2, Strategy holds about 471,107 bitcoins, with a market value of $46 billion.

In the fourth quarter, Strategy bought 218,887 bitcoins for $20.5 billion, marking its largest-ever increase in quarterly bitcoin holdings. The company’s net loss for the quarter was $670.8 million, or $3.03 per share, a stark contrast to the previous year’s profit of $89.1 million, or 50 cents per share.

Strategy also revealed a major rebranding, officially changing its name and logo to better reflect its focus on cryptocurrency. The company’s new identity emphasizes bitcoin as its core business, marking a shift away from its software operations, which have become less relevant. Strategy now refers to itself as the world’s “first and largest Bitcoin Treasury Company.” The rebranding includes a stylized “B” in its logo, symbolizing its commitment to bitcoin.

The company’s transition will also involve a change in accounting rules for its bitcoin holdings in the first quarter, with Strategy expecting the impairment charge to be a thing of the past going forward.