EU Defends Digital Markets Act, Insists It’s Not Targeting U.S. Tech Giants

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European Union officials have rejected accusations that their new Digital Markets Act (DMA) is aimed at U.S. tech giants. In a joint letter to U.S. congressmen Jim Jordan and Scott Fitzgerald, EU antitrust chief Teresa Ribera and EU tech chief Henna Virkkunnen emphasized that the DMA is designed to keep digital markets open and applies to all companies meeting the criteria for being considered “gatekeepers,” regardless of their headquarters.

Ribera and Virkkunnen responded to concerns raised by U.S. lawmakers about the potential impact of the DMA on U.S. firms. The letter, dated March 6, clarified that the law does not specifically target U.S. companies, but instead applies to any firm that fits the established gatekeeper definition in the EU.

The EU officials also defended the DMA against criticism that it could stifle innovation. They argued that the act aims to prevent unfair practices by dominant players, thus fostering a more open and competitive digital market that will allow new players to emerge and innovate. Ribera and Virkkunnen highlighted that similar concerns over monopolistic behavior had prompted antitrust investigations and legal actions against companies like Google, Amazon, Apple, and Meta in the U.S. under the Trump administration and beyond.

In response to claims that EU fines on American tech firms resemble a European tax, the EU officials emphasized that the primary goal of enforcement is to ensure compliance with the law, not to impose punitive measures. They pointed out that sanctions, which are a standard feature of both EU and U.S. regulations, are essential for ensuring effective enforcement.

US Government Likely to Ban Chinese AI App DeepSeek Over Security Concerns

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The Trump administration is reportedly moving towards a ban on the Chinese AI chatbot DeepSeek from U.S. government devices due to national security concerns, according to a Wall Street Journal report on Friday. Sources familiar with the matter have said that U.S. officials are worried about how DeepSeek handles user data, especially since the company stores this data on servers based in China.

The discussions about restricting DeepSeek are still in the early stages, but the administration is considering banning the app from U.S. app stores and placing limits on how American cloud service providers can offer DeepSeek’s AI models to their customers. These concerns have emerged as the app’s entry into the market has raised alarms about its potential to disrupt the current AI landscape.

DeepSeek’s low-cost AI models have already caused significant volatility in global equity markets, with investors worried that the company’s technology could threaten the dominance of existing AI leaders. The growing scrutiny of the app adds to the broader U.S. government’s ongoing efforts to monitor and regulate foreign technology companies, especially those with ties to China.

Intuitive Machines’ Stock Drops After Second Sideways Moon Landing

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Intuitive Machines’ stock took a sharp 23% dive on Friday after confirming that its second moon lander, Athena, had landed on its side, much like the company’s first lunar attempt last year. The six-legged Athena lander had touched down approximately 100 miles (160 km) from the moon’s south pole, but the mission was declared a failure due to the spacecraft’s tilted position. The company cited the challenges of the lander’s orientation, the impact of the sun’s direction on the solar panels, and the extremely cold temperatures in the crater, which prevented the craft from recharging.

As a result, Intuitive Machines’ stock experienced its most significant drop in over a year. Shares had already fallen 20% the previous day, but the company had seen a considerable rise in value over the past 12 months prior to this setback.

Athena was carrying 11 scientific payloads, including tools for water ice exploration, lunar soil analysis, and the first data center and cellular network on the moon. Despite the failure, the company remains involved in NASA’s plans to reduce the cost of lunar exploration, with Intuitive Machines among the private companies leading the U.S. return to the moon.

Meanwhile, SpaceX’s Starship rocket also faced a setback, exploding minutes after its launch on Thursday. Despite these challenges, industry analysts believe that Intuitive Machines, though impacted by the recent failure, is still well-positioned to capitalize on the growing space exploration industry.

Andres Sheppard, senior analyst at Cantor Fitzgerald, remarked that while the sideways landing might affect the company’s credibility, it doesn’t signal a dire situation for Intuitive Machines. “We still think they are one of the better-positioned companies in the space exploration industry.”