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G7 antitrust watchdogs signal possible action on AI sector competition

The G7 nations want to ensure AI isn’t used to facilitate "collusion” between AI firms that could lead to the sharing of sensitive information or forming a monopoly.

G7 nations’ antitrust authorities have signaled they may take “vigorous” enforcement action to protect competition in the artificial intelligence sector to tackle risks before they become “entrenched or irreversible.”

The watchdogs said in an Oct. 4 communiqué after a two-day summit in Rome that they want to reduce the “competitive bottlenecks” that hinder new AI entrants compared to established firms, which often get first access to generative AI tools, data and specialized chips.

They added they want to ensure AI isn’t used to facilitate “collusion” between AI firms as it could lead to price controls, sharing competitively sensitive information — or creating a monopoly.

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Nvidia denies receiving DOJ antitrust subpoena

Nvidia shares saw a slight after-hours bump as the chipmaker denied a report that it received a Justice Department antitrust probe.

Nvidia has denied a report that it received an antitrust subpoena from the United States Justice Department, with its share price seeing a slight rise in after-hours trading.

“We have inquired with the US Department of Justice and have not been subpoenaed,” an Nvidia spokesperson told Cointelegraph, first reported by CNBC. “Nonetheless, we are happy to answer any questions regulators may have about our business.”

“Nvidia wins on merit, as reflected in our benchmark results and value to customers, and customers can choose whatever solution is best for them,” the spokesperson added.

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DOGE Unleashed: Elon Musk Takes on Trump’s Quest to Slash Regulations

Microsoft declares OpenAI both ‘strategic partner’ and ‘competition’ in SEC filing

The two companies face antitrust probes in the US and EU over their partnership.

Microsoft wants the feds to view its relationship with OpenAI as more of a frenemies (friends and enemies) situation than a real partnership, judging by a report filed with the SEC in July. 

In the filing, a form 10-K periodic financial performance and conditions report, Microsoft declared OpenAI as its rival in several passages while also stating numerous times throughout the document that OpenAI was its “strategic partner.”

Interestingly, Microsoft cites dozens of rivals and “intense competition across all markets” in its statements on competition. These include companies ranging from Apple to Nintendo as well as several software and coding organizations.

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DOGE Unleashed: Elon Musk Takes on Trump’s Quest to Slash Regulations

FTC Files Lawsuit Against Social Media Giant Meta for Allegedly Violating Antitrust Laws

FTC Files Lawsuit Against Social Media Giant Meta for Allegedly Violating Antitrust Laws

The Federal Trade Commission (FTC) is filing a lawsuit against social media titan Meta for allegedly monopolizing the metaverse. In a new press release, the regulatory agency says it’s suing the company, along with CEO Mark Zuckerberg, for attempting an illegal acquisition that would greatly expand Meta’s grasp of the virtual reality industry. “The company’s […]

The post FTC Files Lawsuit Against Social Media Giant Meta for Allegedly Violating Antitrust Laws appeared first on The Daily Hodl.

DOGE Unleashed: Elon Musk Takes on Trump’s Quest to Slash Regulations