WSJ Tech News Briefing: Detailed Summary

Episode: TNB Tech Minute: AMD Invests in Drug-Discovery Company Absci
Release Date: January 8, 2025
Host: James Rundle, The Wall Street Journal

1. AMD's Strategic Investment in ABSCI

In the latest tech developments, Advanced Micro Devices (AMD) has made a significant move by investing $20 million in the drug discovery company ABSCI. This strategic investment is poised to enhance ABSCI's capabilities in leveraging artificial intelligence (AI) for drug discovery by providing the necessary computing power at a reduced cost.

"The investment allows ABSCI to access the computing power it needs for its use of artificial intelligence at a lower cost."
— James Rundle [00:30]

This partnership not only benefits ABSCI by making advanced AI technologies more accessible but also positions AMD to gain a substantial foothold in the burgeoning life sciences market. AMD is setting its sights on competing with rival Nvidia, which has already made its mark in the AI chip sector. In fact, Nvidia invested $50 million in Recursion Pharmaceuticals in 2023, leveraging its technology to enhance AI modeling in drug discovery.

Additionally, the deal grants AMD a stake in ABSCI, although AMD has not disclosed the exact amount of this equity. This move underscores AMD's commitment to expanding its influence beyond traditional semiconductor markets into the vital intersection of technology and healthcare.

2. Legal Turmoil Surrounding OpenAI CEO Sam Altman

In a more contentious development, Sam Altman, CEO of OpenAI, is currently embroiled in a lawsuit filed by his sister, Ann Altman. The lawsuit alleges that Sam Altman sexually abused Ann over several years during their childhood.

"The lawsuit alleges that the abuse occurred at their family home in Missouri from approximately 1997 through 2006."
— James Rundle [01:15]

The allegations specify that the abuse took place in Missouri between 1997 and 2006. In response to these serious claims, Sam Altman has publicly denied all accusations. He addressed the allegations in a post on X (formerly Twitter), stating:

"I deny the accusations made against me. My sister has suffered from mental health challenges."
— Sam Altman [01:45]

The lawsuit seeks a jury trial and demands damages exceeding $75,000. This legal battle not only puts Altman's personal reputation under scrutiny but may also have implications for OpenAI's public image and stakeholder confidence.

3. Media Partnerships: News Corp and OpenAI

In the realm of media and technology collaborations, News Corp, the owner of The Wall Street Journal, has entered into a content licensing partnership with OpenAI. This partnership aims to enrich OpenAI's offerings with high-quality, reliable news content from News Corp's extensive library.

This collaboration signifies a mutually beneficial relationship where News Corp leverages OpenAI's artificial intelligence capabilities to enhance content distribution, while OpenAI benefits from access to premier journalistic resources to improve its AI models and services.

4. Meta's Marketplace Expansion and EU Regulatory Challenges

Meta Platforms Inc., formerly known as Facebook, is testing a new feature that allows users in the U.S., France, and Germany to browse listings from rival eBay directly on its Facebook Marketplace platform. This move comes as part of Meta's efforts to expand the functionality and competitiveness of its marketplace offering.

"Meta says it will run a test allowing some users in the U.S. France and Germany to browse listings from rival eBay on its Facebook Marketplace platform."
— James Rundle [02:10]

However, this initiative faces significant regulatory hurdles, particularly in the European Union. The EU has previously ruled that the integration of eBay listings into Facebook Marketplace violates competition laws, leading to an $825 million fine for Meta. In response, Meta is actively appealing the decision while simultaneously working to address the concerns raised by EU regulators.

"Meta is still appealing that decision, which also levied an $825 million dollar fine on the social media giant, but said it was working to address the points raised by regulators."
— James Rundle [02:30]

This situation highlights the ongoing tension between large tech companies and regulatory bodies aimed at maintaining competitive markets and protecting consumer interests.

Conclusion

Today's edition of the WSJ Tech News Briefing covered significant developments in the tech industry, from AMD's strategic investment in AI-driven drug discovery to high-profile legal battles involving leading figures in AI. Additionally, the episode explored important collaborations and regulatory challenges facing major tech corporations like News Corp and Meta. For those seeking a comprehensive understanding of these topics, tuning into the Wall Street Journal's Tech News Briefing offers valuable insights and detailed analysis.

For a more in-depth exploration of these stories and other tech news, listeners are encouraged to check out Thursday's Tech News Briefing podcast.

Notable Quotes:

• "The investment allows ABSCI to access the computing power it needs for its use of artificial intelligence at a lower cost." — James Rundle [00:30]

• "The lawsuit alleges that the abuse occurred at their family home in Missouri from approximately 1997 through 2006." — James Rundle [01:15]

• "I deny the accusations made against me. My sister has suffered from mental health challenges." — Sam Altman [01:45]

• "Meta says it will run a test allowing some users in the U.S. France and Germany to browse listings from rival eBay on its Facebook Marketplace platform." — James Rundle [02:10]

• "Meta is still appealing that decision, which also levied an $825 million dollar fine on the social media giant, but said it was working to address the points raised by regulators." — James Rundle [02:30]

This summary encapsulates the key discussions and insights from the January 8, 2025 episode of WSJ Tech News Briefing, providing a comprehensive overview for those who did not listen to the podcast.