📈 Intel's new subsidiary plan, Meta bans Russian media, Instagram boosts child safety
Good morning. It’s Tuesday, September 17. Today we are covering:
Intel stock jumps on plan to turn foundry business into subsidiary and allow for outside funding
Meta Bans Russian State-Funded Media Outlets for 'Foreign Interference Activity
Instagram, Facing Pressure Over Child Safety Online, Unveils Sweeping Changes
Elon Musk may have to sell billions in Tesla stock to rescue X
LG finally gets serious about the smart home
Let’s dive in
Intel stock jumps on plan to turn foundry business into subsidiary and allow for outside funding
By Rohan Goswami via CNBC
Intel plans to turn its foundry business into a separate subsidiary, allowing it to raise outside capital and potentially spin it off as a publicly traded company.
The chipmaker has spent about $25 billion on the foundry business in each of the last two years, and its stock has lost almost 60% of its value in 2024.
Intel entered a deal with Amazon Web Services to produce custom AI chips, expanding their partnership and giving Intel a foothold in the AI server chip market.
𝕏: Two weeks ago, I mentioned that “this is the closest moment Intel has come to a spin-off. Intel stock jumps on plan to turn foundry business into subsidiary and allow for outside funding - Ming-Chi Kuo (@mingchikuo)
Meta Bans Russian State-Funded Media Outlets for 'Foreign Interference Activity
By Jibin Joseph via PCMag
Meta has banned Russian state-owned media outlets, including RT, for engaging in foreign interference activities and trying to manipulate online discourse.
The ban follows accusations from the Biden administration and indictments by the DOJ against RT employees for involvement in covert influence campaigns.
The ban will apply across Meta's platforms, including Instagram, WhatsApp, and Threads, and is part of broader social media crackdowns on Russian disinformation since the 2022 invasion of Ukraine.
𝕏: This is a global ban, RT was already banned from most Meta platforms in the EU. - Evan DeSimone (@MediaEvan)
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Instagram, Facing Pressure Over Child Safety Online, Unveils Sweeping Changes
By Mike Isaac via The New York Times
Instagram is introducing new privacy measures for users under 18, including making accounts private by default and restricting notifications from 10 p.m. to 7 a.m.
The changes come amid increased scrutiny over social media's impact on children's safety, with concerns about exposure to harmful content, bullying, and online predators.
Parents will gain more oversight with tools to monitor their children's interactions, though the changes could face backlash from teens who prefer public profiles for influence and growth.
𝕏: NEW: @instagram is overhauling teen accounts with sweeping privacy, age-verification changes — Worldwide, over 100 million accounts will likely be impacted - Sara Fischer (@sarafischer)
Elon Musk may have to sell billions in Tesla stock to rescue X
By Christiaan Hetzner via Fortune
Elon Musk may need to sell $1-2 billion in Tesla stock to cover financial losses at X, the company formerly known as Twitter, as advertising revenue continues to plummet.
Revenue at X has dropped 84% since Musk's takeover, and the company faces increasing financial pressure, including the risk of defaulting on its $13 billion in debt.
Musk's previous pledge not to sell more Tesla shares until 2025 is in question, as experts believe he might offload stock sooner to plug financial gaps at X.
𝕏: What if the point was less about making $ but rather about exercising a level of influence designed to produce political outcomes that are "priceless" to the Fascists of the world? - Ruth Ben-Ghiat (@ruthbenghiat)
LG finally gets serious about the smart home
By Jennifer Pattison Tuohy via The Verge
LG is expanding its ThinQ platform to integrate with more smart home devices, aiming to compete with platforms like Samsung SmartThings and Apple Home.
The new ThinQ ON hub will support multiple smart home protocols, powered by AI and voice control, allowing it to autonomously manage appliances based on user preferences.
LG is taking a more open approach by allowing other platforms to integrate its appliances, positioning itself as a potential competitor to Apple, Amazon, and Google in the smart home market.
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