Top stories today:
- Thomson Reuters wins early AI copyright ruling in 2020 case
- SoftBank reports $2.4B loss amid growing AI investments
- Shopify shuts down Kanye Westās store selling swastika shirts
- Powell says Fed doesnāt need to rush on rate cuts
- U.S. core CPI seen rising 0.3% MoM in Jan.
- Anduril takes over Microsoftās $22B U.S. Army headset program
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Thomson Reuters wins early AI copyright ruling in 2020 case
The copyright infringement case was filed against Ross Intelligence, a legal AI startup.
āNone of Rossās possible defenses holds waterā against accusations of copyright infringement, judge Stephanos Bibas said.
āNon-generativeā AI involved, not a GenAI tool, the judge noted.
Unclear whether the same logic will apply to cases involving LLMs, such as NYT v. OpenAI.
3. SoftBank reports $2.4B loss for Q3 FY2024 amid growing AI investments
From $6.46B net profit in Q3 FY23.Ā
$2.05B loss came from the Vision Fund alone.
+3% in Q3 revenue to $12.11B.
The loss reported weeks after SoftBank joined the AI-focused Stargate project.
SoftBank Groupās stock has outperformed U.S. and Japanese indices since Jan. 2024 on AI-related announcements
In Jan., SoftBank made a follow-on investment of $1.5B in OpenAI, up from the $500M in Sep. 2024
The investment increased SoftBank Vision Fund 2 (SVF2)ās total investment share.
4. Shopify shuts down Kanye Westās store selling swastika shirts over ārisk of fraudā
