This week was a rollercoaster ride for the tech industry, with major companies like Meta Platforms, Inc., Alphabet Inc., Snap Inc. and SK hynix Inc. making headlines. From dodging a significant lawsuit to facing regulatory scrutiny, here’s a quick recap of the top stories.
Teen Drops Lawsuit Against Meta, Google and Snap
In a significant legal development, a 15-year-old New Jersey girl dropped her lawsuit against Meta, Google, and Snap. The teenager had accused these social media giants of contributing to addiction, depression, and self-harm. The companies confirmed that the dismissal was voluntary and no payment was made to the plaintiff.
Google’s Firebase Linked to Bank Scams in India
Google’s Firebase platform is under the scanner in India, with officials linking it to a series of bank-impersonation scams. The Indian Cyber Crime Coordination Centre has reportedly ordered Google to shut down hundreds of Firebase accounts, citing malware distribution and theft of sensitive financial data.
SK hynix Considers Massive Expansion in Japan
SK hynix is reportedly considering a large manufacturing expansion in Japan to meet the rising global demand for memory chips. The company is weighing plans for a new facility in Japan’s Miyagi prefecture, with a potential investment running into tens of trillions of won.
Former Google Engineer Gets Legal Reprieve
Former Google software engineer Linwei Ding received a major legal break after a federal judge overturned his economic espionage convictions. The judge ruled that prosecutors failed to provide sufficient evidence that Ding intended his actions to benefit the Chinese government.
Alibaba’s Old Nvidia GPUs Still Going Strong
In an interesting revelation, Alibaba Group Holding Ltd. stated that Nvidia Corp.’s older AI chips, purchased as far back as 2018, are still operating at full capacity across its AI infrastructure. The company expects its AI assets to generate robust cash flow after a three-year payback period.
Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.
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