With an image of himself on a screen in the background, Facebook co-founder and CEO Mark Zuckerberg testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill October 23, 2019 in Washington, DC.
Chip Somodevilla | Getty Images
Facebook on Friday was hit with multiple reports stemming from documents provided to news outlets by Frances Haugen, a former employee turned whistleblower.
The reports cite internal company research and documents that show the company is aware of many of the harms its apps and services cause but either doesn’t rectify the issues or struggles to address them.
According to a report from NBC, Facebook ran an experiment that showed how a new profile for a conservative mother from North Carolina began, within two days, to receive recommendations to join groups related to the far-right conspiracy group QAnon.
By the summer of 2020, , the documents show, Facebook was hosting thousands of private QAnon groups and pages with millions of followers, NBC reported. Facebook has since banned QAnon groups.
Bloomberg reported on documents that showed employees at Facebook expressed shock and outrage after the Jan. 6 insurrection at the U.S. Capitol.
“I’m struggling to match my value to my employment here,” one employee wrote, according to the Bloomberg story. “I came here hoping to affect change and improve society, but all I’ve seen is atrophy and abdication of responsibility.”
Internal Facebook analysis of the Jan. 6 insurrection found that the policies and procedures put in place by the company were not enough to prevent the growth of groups related to “Stop the Steal,” according to a CNN report. The company treated each piece of “Stop the Steal” content individually, rather than as part of a greater whole, the report notes.
The New York Times reported on Friday, based on documents from Haugen, that a Facebook data scientist wrote to his colleagues to say that 10% of all U.S. views of political content on the site were of posts alleging that the 2020 U.S. presidential was fraudulent.
The reports follow a series of stories from the Wall Street Journal titled “The Facebook Files,” from documents provided by Haugen. Most notably, the series found internal documents that showed Facebook was aware of the harm caused by its Instagram service to teenagers’ mental health.
Earlier this month, Haugen testified before a Senate panel about the reports. Facebook attempted to discredit Haugen at the time and continues to push back against the stories stemming from the documents she’s released.
“At the heart of these stories is a premise which is false,” Facebook wrote in a statement to CNBC. “Yes, we’re a business and we make profit, but the idea that we do so at the expense of people’s safety or wellbeing misunderstands where our own commercial interests lie. The truth is we’ve invested $13 billion and have over 40,000 people to do one job: keep people safe on Facebook.”
Digital illustration of a glowing world map with “AI” text across multiple continents, representing the global presence and integration of artificial intelligence.
Fotograzia | Moment | Getty Images
As artificial intelligence becomes more democratized, it is important for emerging economies to build their own “sovereign AI,” panelists told CNBC’s East Tech West conference in Bangkok, Thailand, on Friday.
In general, sovereign AI refers to a nation’s ability to control its own AI technologies, data and related infrastructure, ensuring strategic autonomy while meeting its unique priorities and security needs.
However, this sovereignty has been lacking, according to panelist Kasima Tharnpipitchai, head of AI strategy at SCB 10X, the technology investment arm of Thailand-based SCBX Group. He noted that many of the world’s most prominent large language models, operated by companies such as Anthropic and OpenAI, are based on the English language.
“The way you think, the way you interact with the world, the way you are when you speak another language can be very different,” Tharnpipitchai said.
It is, therefore, important for countries to take ownership of their AI systems, developing technology for specific languages, cultures, and countries, rather than just translating over English-based models.
Panelists agreed that the digitally savvy ASEAN region, with a total population of nearly 700 million people, is particularly well positioned to build its sovereign AI. People under the age of 35 make up around 61% of the population, and about 125,000 new users gain access to the internet daily.
Given this context, Jeff Johnson, managing director of ASEAN at Amazon Web Services, said, “I think it’s really important, and we’re really focused on how we can really democratize access to cloud and AI.”
Open-source models
According to panelists, one key way that countries can build up their sovereign AI environments is through the use of open-source AI models.
“There is plenty of amazing talent here in Southeast Asia and in Thailand, especially. To have that captured in a way that isn’t publicly accessible or ecosystem developing would feel like a shame,” said SCB 10X’s Tharnpipitchai.
Doing open-source is a way to create a “collective energy” to help Thailand better compete in AI and push sovereignty in a way that is beneficial for the entire country, he added.
Open-source generally refers to software in which the source code is made freely available, allowing anyone to view, modify and redistribute it. LLM players, such as China’s DeepSeek and Meta’s Llama, advertise their models as open-source, albeit with some restrictions.
The emergence of more open-source models offers companies and governments more options compared to relying on a few closed models, according to Cecily Ng, vice president and general manager of ASEAN & Greater China at software vendor Databricks.
AI experts have previously told CNBC that open-source AI has helped China boost AI adoption, better develop its AI ecosystem and compete with the U.S.
Access to computing
Prem Pavan, vice president and general manager of Southeast Asia and Korea at Red Hat, said that the localization of AI had been focused on language until recently. Having sovereign access to AI models powered by local hardware and computing is more important today, he added.
Panelists said that for emerging countries like Thailand, AI localization can be offered by cloud computing companies with domestic operations. These include global hyperscalers such as AWS, Microsoft Azure and Tencent Cloud, and sovereign players like AIS Cloud and True IDC.
“We’re here in Thailand and across Southeast Asia to support all industries, all businesses of all shapes and sizes, from the smallest startup to the largest enterprise,” said AWS’s Johnson.
He added that the economic model of the company’s cloud services makes it easy to “pay for what you use,” thus lowering the barriers to entry and making it very easy to build models and applications.
In April, the U.N. Trade and Development Agency said in a report that AI was projected to reach $4.8 trillion in market value by 2033. However, it warned that the technology’s benefits remain highly concentrated, with nations at risk of lagging behind.
Among UNCTAD’s recommendations to the international community for driving inclusive growth was shared AI infrastructure, the use of open-source AI models and initiatives to share AI knowledge and resources.
Amazon CEO Andy Jassy said the rapid rollout of generative artificial intelligence means the company will one day require fewer employees to do some of the work that computers can handle.
“Like with every technical transformation, there will be fewer people doing some of the jobs that the technology actually starts to automate,” Jassy told CNBC’s Jim Cramer in an interview on Monday. “But there’s going to be other jobs.”
Even as AI eliminates the need for some roles, Amazon will continue to hire more employees in AI, robotics and elsewhere, Jassy said.
Earlier this month, Jassy admitted that he expects the company’s workforce to decline in the next few years as Amazon embraces generative AI and AI-powered software agents. He told staffers in a memo that it will be “hard to know exactly where this nets out over time” but that the corporate workforce will shrink as Amazon wrings more efficiencies out of the technology.
It’s a message that’s making its way across the tech sector. Salesforce CEO Marc Benioff last week claimed AI is doing 30% to 50% of the work at his software vendor. Other companies such as Shopify and Microsoft have urged employees to adopt the technology in their daily work. The CEO of Klarna said in May that the online lender has managed to shrink its headcount by about 40%, in part due to investments in AI and natural attrition in its workforce.
Jassy said on Monday that AI will free employees from “rote work” and “make all our jobs more interesting,” while enabling staffers to invent better services more quickly than before.
Amazon and other tech companies have also been shrinking their workforces through rolling layoffs over the past several years. Amazon has cut more than 27,000 jobs since the start of 2022, and it’s announced smaller, more targeted layoffs in its retail and devices units in recent months.
Amazon shares are flat so far this year, underperforming the Nasdaq, which has gained 5.5%. The stock is about 10% below its record reached in February, while fellow megacaps Meta, Microsoft and Nvidia are all trading at or very near record highs.
Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group’s IPO, in New York City, U.S., June 5, 2025.
Brendan McDermid | Reuters
Stablecoin issuer Circle Internet Group has applied for a national trust bank charter, moving forward on its mission to bring stablecoins into the traditional financial world after the firm’s big market debut this month, CNBC confirmed.
Shares rose 1% after hours.
If the Office of the Comptroller of the Currency grants the bank charter, Circle will establish the First National Digital Currency Bank, N.A. Under the charter, Circle, which issues the USDC stablecoin, will also be able to offer custody services in the future to institutional clients for assets, which could include representations of stocks and bonds on a blockchain network.
Reuters first reported on Circle’s bank charter application.
There are no plans to change the management of Circle’s USDC reserves, which are currently held with other major banks.
Circle’s move comes after a wildly successful IPO and debut trading month on the public markets. Shares of the company are up 484% in June. The company is also benefiting from a wave of optimism after the Senate’s passage of the GENIUS Act, which would give the U.S. a regulatory framework for stablecoins.
Having a federally regulated trust charter would also help Circle meet requirements under the GENIUS Act.
“Establishing a national digital currency trust bank of this kind marks a significant milestone in our goal to build an internet financial system that is transparent, efficient and accessible,” Circle CEO Jeremy Allaire said in a statement shared with CNBC. “By applying for a national trust charter, Circle is taking proactive steps to further strengthen our USDC infrastructure.”
“Further, we will align with emerging U.S. regulation for the issuance and operation of dollar-denominated payment stablecoins, which we believe can enhance the reach and resilience of the U.S. dollar, and support the development of crucial, market neutral infrastructure for the world’s leading institutions to build on,” he said.
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