Tech News Now: FCC tackling AI robocalls, Sam Altman seeking trillions, and more
Good morning and welcome to Tech News Now, TheStreet's daily tech rundown.
In today's edition, we're covering Open AI’s Sam Altman's latest funding quest, the FCC taking a stand against AI robocalls, Ring raising the price to rewatch footage, and what Disney’s investment in Epic means for the valuation.
Open AI’s Sam Altman seeking trillions
Sam Altman, Open AI's CEO, is looking for trillions "to reshape the global semiconductor industry" according to a new report from The Wall Street Journal. The capital is needed to build out the large language models and he’ll need the physical chips to do just that, as well as the software.
Altman is chatting with investors like the UAE, TSMC, and Softbank. While it’s definitely in the trillions, it’s reported that he’s asked for up to 7 trillion, which is much larger than the global sales of chips in 2023, which sat at $527 million. Either route, it’s clear Altman wants to build a strong foundation for training and running large language models and solve the lack of chips by sourcing his own.
The FCC is banning AI robocalls
In a unanimous decision, AI-generated robocalls are now illegal. On Feb. 8, The Federal Communications Commission voted, and the ruling is already in effect. It specifically goes after robocalls using AI-generated voices, and will allow the agency to fine those using them or have the providers block the calls. Additionally, they can file a complaint or a lawsuit if someone receives them.
FCC Chairwoman Jessica Rosenworcel said in a statement, “Bad actors are using AI-generated voices in unsolicited robocalls to extort vulnerable family members, imitate celebrities, and misinform voters. We’re putting the fraudsters behind these robocalls on notice. State Attorneys General will now have new tools to crack down on these scams and ensure the public is protected from fraud and misinformation.”
Ring’s Basic Plan is getting more expensive
Amazon-owned Ring makes a slew of video doorbells and security cameras, but it’s about to get more expensive to view recorded videos from just one of them. Ring’s Protect Basic subscription that lets you view recorded video from one connected device—expanding beyond live view and basic motion alerts, which are free—will jump to $4.99 a month or $49.99 a year from $3.99 a month or $39.99 a year.
It’s just $1 a month or $10 more yearly, but that can quickly add up. The change goes into effect on March 11, 2024, but users can cancel or swap plans before then to avoid the new price.
Epic Games' lower value
Justin Sullivan&solGetty Images
Coming off the news of a massive partnership between The Walt Disney Company and Epic Games, we’re learning more about the reported value of the latter. Disney is investing 1.5 billion in Epic to create a “persistent universe” that lets fans play, shop, and watch. According to The Information, this values Epic Games at $22.5 billion, lower by 29% from where it was in 2022 — so Disney is getting a deal. Epic Games is owned by Tencent, the world's most valuable video game company.
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