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News on Medial
Disney Just Threw a Punch in a Major AI Fight
Wired
·
1m ago
Medial
Disney and Universal are suing AI startup Midjourney for allegedly reproducing their copyrighted content in what they call a “bottomless pit of plagiarism.” The lawsuit highlights tensions between AI tech and intellectual property. Midjourney's new video generation tool is also under scrutiny for generating videos with copyrighted characters, showing ongoing conflicts in the use of copyrighted material in AI models. The case may influence future legal frameworks around AI and intellectual property.
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Apple defense bolstered by Google monopoly ruling in US case
Economic Times
·
11m ago
Medial
Apple could benefit after Google lost its antitrust fight with US enforcers this week, as the ruling supports Apple's defense in its own court battle. The ruling found Google's search business to be an illegal monopoly but threw out claims that one of Google's ad tools gave it an advantage over Microsoft's Bing. Experts say this ruling could aid Apple's defense. However, Apple could still lose billions if Google is banned from paying the iPhone maker to be the default search engine on their devices. The case and appeals could take years to conclude.
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Exclusive: Kunal Shah-backed Punch to raise fresh funds
Entrackr
·
5m ago
Medial
Stock broking platform Punch is raising Rs 26 crore (approximately $3 million) in its extended seed round from new and existing investors. This comes just after 7 months of its $7 million seed round. The board at Punch has passed a special resolution to issue 1,27,650 pre-Series A4 CCPS at an issue price of Rs 2,036 each to raise Rs 26 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Existing investors Stellaris Venture Partners and SIG Venture Partners will invest Rs 8.66 crore each, while new investor Four SB Ltd (Mauritius-based) will also participate with Rs 8.66 crore during the round. The company will use the proceeds for growth, expansion, and general corporate activities, as per filings. Entrackr estimates that Punch will be valued at around Rs 157 crore or $18.5 million (post-money). According to the startup data intelligence platform TheKredible, existing investors Stellaris Venture Partners and SIG Venture Partners will each hold a 15.9% stake in the company, while Four SB will own 5.5% (post-allotment). Punch is a mobile-first stock trading platform designed to make options trading seamless for both beginners and seasoned traders. It enables users to trade index options, stock options, and equities on the NSE and BSE exchanges. Punch has raised over $13 million to date across rounds including its $7 million seed round from Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners, and Innoven Capital. Its notable angel investors include Kunal Shah (Cred), Vatsal Singhal (Ultrahuman), and Nitish Mittersain (Nazara). For the fiscal year ending March 2024, Punch reported an operating revenue of Rs 7.2 crore, up from Rs 6.96 crore in FY23, while incurring a loss of Rs 1.68 crore during the last fiscal year.
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Punch, Burma Burma, EtherealX & others get VC money; Nazara arm buys DeltiasGaming
VCCircle
·
1y ago
Medial
Indian startups Punch, EtherealX, Hyperbots, Neuron Energy, matchmaking platform Juleo, and restaurant brand Burma Burma have announced successful fundraising rounds. Punch, a trading platform, raised $7m from investors including Stellaris Venture Partners and Susquehanna Asia VC. EtherealX, a spacecraft developer, secured $5m in a seed funding round led by YourNest. AI startup Hyperbots raised $2m, while electric vehicle battery manufacturing start-up Neuron Energy raised INR 20 crore ($2.7m). Dating platform Juleo secured $2.5m in angel funding, and Burmese restaurant brand Burma Burma raised a further $2m in equity investment.
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Some of Silicon Valley's biggest names are wading into the battle for AI expertise
Business Insider
·
1y ago
Medial
The fight for AI talent among Big Tech companies is becoming increasingly intense. Investors and the rapid growth of AI products have created a high demand for advanced researchers and engineers, resulting in candidates being offered pay packages of up to $1 million. CEOs and founders, including Mark Zuckerberg, Sergey Brin, and Satya Nadella, are personally getting involved in recruitment efforts. However, retaining top AI talent is proving to be just as challenging as recruiting new talent. Startups are also struggling to compete against the resources and salaries offered by Big Tech companies.
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Weekly Tech Recap: JioHotstar launched, Sam Altman vs Elon Musk feud intensifies, Perplexity takes on ChatGPT and more | Mint
Livemint
·
5m ago
Medial
This week's major tech developments included the launch of JioHotstar, combining JioCinema and Disney+ Hotstar, now India's largest streaming service. Rivalries flared as Elon Musk's attempt to buy OpenAI's non-profit arm was rejected by Sam Altman. Adobe released its AI feature for text-to-video generation, and Perplexity AI launched a Deep Research tool competing with OpenAI and Google. Apple faced delays with its Siri overhaul, impacting its AI strategy.
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With Disney's magic, Fortnite is poised to win the metaverse | TechCrunch
TechCrunch
·
1y ago
Medial
Epic Games and Disney are partnering to create an "entertainment universe" within the metaverse, utilizing Epic's technology and Fortnite's social gaming ecosystem. Disney has invested $1.5 billion for a stake in Epic, signaling a long-term collaboration. The partnership aims to bring Disney's vast intellectual property to life within Fortnite, expanding the game into more than just a battle royale. This move positions Epic Games as a dominant player in the emerging metaverse space.
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Hollywood studios target AI image generator in copyright lawsuit
Arstechnica
·
1m ago
Medial
Disney and NBCUniversal have filed a lawsuit against Midjourney, an AI image-synthesis company, accusing it of copyright infringement by allowing users to create images of characters like Darth Vader and Shrek. The complaint, filed in Los Angeles, marks the first major legal action by Hollywood studios against a generative AI firm. The studios argue Midjourney promotes copyright violations by displaying user-generated content of copyrighted characters and not implementing copyright protection measures.
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Elon Musk goes off on Disney CEO Bob Iger, says he should be 'fired immediately'
Business Insider
·
1y ago
Medial
Elon Musk continues his feud with Disney CEO Bob Iger, stating that Iger should be fired immediately and that Walt Disney would be appalled by what Iger has done to the company. Musk's comments came in response to news that New Mexico's attorney general had filed a lawsuit against Meta and its CEO Mark Zuckerberg, alleging that their social networks were not doing enough to protect children from exploitation. Musk also accused Disney of advertising on Meta, despite pulling their ads from his platform. This is just the latest in a string of attacks by Musk on advertisers who have left his platform.
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Netflix’s next live event is a fight between Jake Paul and Mike Tyson
The Verge
·
1y ago
Medial
Netflix has announced its next major sports event will be a live-streamed fight between YouTuber-turned-boxer Jake Paul and former heavyweight champion Mike Tyson. The bout will take place on July 20th at AT&T Stadium in Texas, marking Netflix's continued expansion into the sports world. While the streaming giant has previously focused on sports documentaries and a few live events, this fight in an NFL stadium seating 80,000 represents a significant move for the company. This announcement comes at a time when other broadcasters have moved away from boxing.
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Actors, Hollywood studios still at odds on AI and other issues, union says
Economic Times
·
1y ago
Medial
Actors and major Hollywood studios are still in disagreement over the use of artificial intelligence (AI) and other issues. The SAG-AFTRA union presented a revised proposal to the Alliance of Motion Picture and Television Producers (AMPTP), which represents companies like Netflix and Disney. The union is seeking limits on the use of AI in creating movies and TV shows. Negotiations are ongoing, and the strike has resulted in picketing and production shutdowns, costing the California economy billions of dollars.
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