Tech

James Bond meets Amazon in $8.5B merger to rival streaming giants

Published

3 years ago

March 18, 2022

Brittany Coles

James Bond is merging with online retail, Amazon has closed its $8.5 billion dollar deal to buy MGM

The online retailing giant is looking to draw consumers through its streaming service.

Its decision to close comes after a deadline passed for the U.S. Federal Trade Commission to challenge the deal

Amazon announced the transaction back in May last year, and Nearly a year later, Amazon is clear of regulatory hurdles

Amazon says it closed the $8.5 billion acquisition of film studio MGM after regulators declined to challenge the deal, cementing the company’s biggest takeover in five years https://t.co/RAitYH2jtB pic.twitter.com/w2iY4t1XhR
— Bloomberg (@business) March 17, 2022

“MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience,”
“We welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and we look forward to working together to create even more opportunities to deliver quality storytelling to our customers.”
Mike Hopkins, senior VP of Prime Video and Amazon Studios

MGM will boost Amazon Prime Video’s offering with more than 4,000 film titles

Amazon hopes its impressive movie titles and long list of television shows may help Prime compete with streaming rivals Netflix and Disney plus.

There is no word on layoffs Amazon stating it would welcome all MGM employees to the company and work with the studio’s leadership

According to an Amazon rep, with the deal closed, MGM’s management team is joining the group headed by Mike Hopkins, senior VP of Prime Video and Amazon Studios. That includes film chief Michael De Luca and television group head Mark Burnett.

“MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century. We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come.”
Chris Brearton, chief operating officer of MGM.

Tech

Nvidia to build AI supercomputers in the U.S. for first time

Nvidia invests $500 billion in U.S. AI supercomputers, shifting production to Texas to strengthen supply chains and boost domestic growth amid rising tariffs and national tech pressures.

Published

3 days ago

April 18, 2025

Veronica Dudo

Nvidia invests $500 billion in U.S. AI supercomputers, shifting production to Texas to strengthen supply chains and boost domestic growth amid rising tariffs and national tech pressures.

Nvidia to build AI supercomputers in the U.S. for the first time — a $500 billion move that could redefine the global tech industry.

With new tariffs on imports from China and Taiwan, the chip giant is shifting production to Texas, partnering with Foxconn and Wistron.

Nvidia says the decision will strengthen its supply chain and boost domestic economic growth.

The announcement comes amid growing pressure to secure national tech infrastructure and reduce reliance on Asia. How will this impact jobs, prices, and America’s AI ambitions?

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Tech

‘Stuck in the past’: Has Apple lost its edge?

Apple, once an innovator, faces criticism for stale updates and designs, prompting comparisons to 1980s IBM and calls for Tim Cook’s departure.

Published

5 days ago

April 16, 2025

Ahron Young

Apple, once an innovator, faces criticism for stale updates and designs, prompting comparisons to 1980s IBM and calls for Tim Cook’s departure.

Apple, once a symbol of innovation, is now under fire for uninspiring product updates.

The headline “Has Apple lost its edge? Critics say it’s stuck in the past” captures growing frustration over recycled designs and underwhelming features.

From the original iPhone to the lacklustre Apple Intelligence, critics now compare the company to IBM in the 1980s. Is it time for Tim Cook to step aside?

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#Apple #TimCook #TechNews #iPhone #AppleIntelligence #Innovation #BradGastwirth #TechDebate

Tech

OpenAI explores social network to rival Elon Musk

OpenAI is considering a social network to rival Musk’s X, spurred by the success of its new image-generation feature.

Published

5 days ago

April 16, 2025

Ahron Young

OpenAI is considering a social network to rival Musk’s X, spurred by the success of its new image-generation feature.

In Short

OpenAI is considering creating a social network to compete with Elon Musk’s X and Meta’s Instagram, following high demand for its new image-generation tool.

The company has raised $40 billion in funding and is facing increased server demands, prompting efforts to temporarily limit the tool’s usage.

OpenAI is contemplating the development of a social network to rival Elon Musk’s X and Meta’s Instagram, according to an informed source.

This initiative is reportedly in the early stages and has emerged following the success of OpenAI’s latest image-generation tool, which has stressed the company’s servers.

The announcement was first reported by The Verge, while OpenAI has chosen not to comment on the matter.

Image-generation

In March, OpenAI launched its new image-generation feature designed to create various visual content, including diagrams, infographics, and logos. This tool also enables users to produce artistic renditions from their uploaded images.

Recently, images generated by this feature have gained significant traction on social media, with OpenAI’s CEO Sam Altman recently using one for his profile photo on X. Altman noted the overwhelming popularity has led to increased server demands.

He mentioned that the company is currently looking to limit the feature’s usage temporarily while they enhance its efficiency.

The generative AI sector is highly competitive, particularly with the involvement of Musk’s xAI, which recently acquired X. The relationship between Altman and Musk has become contentious, particularly surrounding OpenAI’s move to become a for-profit entity.