Yann LeCun to leave Meta, launch AI startup focused on Advanced Machine Intelligence

Meta has achieved a significant victory against the Federal Trade Commission (FTC) in an antitrust case, which may influence investor perceptions of the social media landscape. The ruling suggests that Meta's acquisitions of Instagram and WhatsApp do not constitute monopoly power, allowing the company to maintain its current business structure without the threat of a breakup.

Cantor Fitzgerald has reduced its stock price target for Meta to $720, citing increased cloud costs as a significant factor. This adjustment reflects concerns about the company's financial outlook amidst rising operational expenses.

European markets stabilized on Wednesday morning after experiencing losses due to concerns that AI stocks may be overvalued. Investors are keenly awaiting the latest results from US chipmaker Nvidia, a key player in the AI sector. Additionally, Japanese media reported that China has suspended seafood imports from Japan amid diplomatic tensions. A US judge also ruled that Meta does not hold a monopoly.

A judge has ruled that Meta does not hold a monopoly following its acquisitions of Instagram and WhatsApp. This decision allows the parent company of Instagram to avoid the potential breakup of its business. The ruling comes after a lawsuit filed by the Federal Trade Commission (FTC) in 2020, which accused Meta of maintaining monopoly power in the market.

Meta has successfully defended itself against an antitrust lawsuit filed by the Federal Trade Commission (FTC), which posed a potential threat to its ownership of WhatsApp and Instagram. The lawsuit aimed to challenge Meta's market practices and its control over these popular social media platforms. The ruling is seen as a significant victory for Meta, allowing the company to maintain its current structure and operations without the risk of being forced to divest its key assets.

A judge ruled that Meta does not hold a monopoly, dismissing a lawsuit filed by the Federal Trade Commission (FTC) in 2020. The FTC accused Meta of maintaining monopoly power after its acquisitions of Instagram and WhatsApp. This ruling is a significant development in the ongoing scrutiny of large tech companies and their market practices.

John Hegeman, the Chief Revenue Officer at Meta, is leaving the company to start his own venture. Hegeman has been instrumental in monetization strategies and the development of the Facebook app over nearly two decades. His departure marks a significant change for Meta as it continues to navigate the evolving digital landscape and competition in the social media market.

A study by Which? has revealed that popular AI chatbots, including ChatGPT and Microsoft's Copilot, are providing British consumers with inaccurate financial advice. The research found that these chatbots offered misleading tips on investments, tax, and insurance. For instance, ChatGPT incorrectly stated that travel insurance is mandatory for most EU countries, while Copilot advised users to breach HMRC investment limits on ISAs. Additionally, Meta's AI provided false information regarding compensation claims for delayed flights.