AI creator of Eliza Labs files a lawsuit against Elon Musk's X corporation, alleging intellectual property infringement.
In the world of technology, there's never a dull moment. Here's a roundup of the latest news that's been making waves:
Antitrust Cases
Eliza Labs, an AI software company, has filed a lawsuit against Elon Musk's X Corp. in the U.S. District Court for the Northern District of California. The lawsuit accuses X Corp. of wielding its monopoly power to deplatform users with the intent to restrain competition for launching AI Agents on the X Corp platform. Eliza Labs claims X Corp. suspended its account after extracting valuable knowledge from the AI firm, and furthermore, demanded up to $50,000 per month for an enterprise license to continue operating on the platform, which Eliza declined to pay. This suspension, Eliza Labs alleges, caused significant harm to its relationship with customers and affected the company's growth.
Meanwhile, another AI company, xAI, has sued Apple and ChatGPT maker OpenAI over illegally conspiring to thwart competition for artificial intelligence. Musk's artificial intelligence startup, xAI, has accused Apple and OpenAI of illegally conspiring to maintain their monopolies and prevent innovators like X and xAI from competing. Antitrust legal analysts think Musk has a strong case, especially given Apple's dominant position in the smartphone market. However, they also suggest Apple could counter by declaring its partnership with OpenAI as a business decision in a competitive environment, and that it has no obligation to help its rivals gain market share.
Crypto Developments
Pi Network is upgrading its Testnet1 ahead of the mainnet transition. The network aims to provide a simple, accessible, and secure cryptocurrency for everyday use.
Next Technology is planning a $500M common stock offering to buy more Bitcoin. The move is part of their strategy to increase their digital asset holdings.
Solana creators have earned $19.3M from Pump.Fun streams. The platform, which allows creators to earn revenue from their fans, has been gaining popularity in the crypto space.
Santander's Openbank is rolling out Bitcoin, Ether, and more for European users. This move is expected to make cryptocurrency more accessible to a wider audience.
AI and Tech Controversies
Nvidia stock has dropped by 3% due to accusations of breaching China's anti-monopoly law. The company is under investigation for alleged anti-competitive practices.
Musk has threatened to sue California-based Apple, citing how Apple's behaviour makes it impossible for any AI company besides OpenAI to reach #1 in the App Store.
Hackers have seized the FBI's botnet takedown targets and built a stronger cyberweapon from it. The FBI is working to mitigate the threat and protect affected systems.
Other Noteworthy Mentions
Monero double-spending threat has grown after a block reorganization. The Monero community is working to address this issue to maintain the integrity of the network.
RIP, Dogecoin ETFs are set to launch this week. This could potentially increase the visibility and liquidity of Dogecoin in the financial markets.
The UAE M2 crypto exchange has changed its business model. The exchange will now focus on providing a platform for trading digital assets, rather than acting as a market maker.
Larry Ellison is involved with OpenAI, Paramount, Warner Bros., and TikTok. His diverse portfolio spans various industries, including technology, entertainment, and social media.
One user lost $1M USDC to an MEV bot after a mistaken transaction. The incident highlights the importance of understanding the risks involved in decentralized finance (DeFi) transactions.
Analysts are discussing how high Ethereum's price can go in 2025 and highlighting one ETH altcoin for potential 2500% gains. The cryptocurrency market continues to be a hot topic for investment discussions.
Stay tuned for more updates as the tech world continues to evolve at a rapid pace!
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