Connect with us

Published

on

In this article

Spider-Man Turn Off the Dark
Source: spidermanonbroadway.marvel.com/

AMC is the latest legacy company to get into the NFT game.

The theater giant and Sony Pictures will offer 86,000 non-fungible tokens to members of its AMC Stubs Premiere, AMC Stubs A-List and AMC Investor Connect who order tickets for the Dec. 16 opening of “Spider-Man: No Way Home” in advance.

Brands big and small are looking for new ways to connect with consumers and, potentially, boost some sales. With crypto-collectibles soaring in popularity, marketers have latched on to the next digital wave.

Ownership of these assets is recorded on a blockchain — a digital ledger similar to the networks that underpin bitcoin and other cryptocurrencies. Unlike most traditional currencies, however, a person can’t exchange one NFT for another as they would with dollars or other assets. Each NFT is unique and acts as a collector’s item that can’t be duplicated, making them rare by design.

AMC said Sunday that more than 100 NFT designs will be available, in partnership with Cub Studios.

Tickets for the film go on sale Nov. 29. Customers who qualify for the NFT will receive an email with redemption instructions on Dec. 22, and the token must be redeemed by March 1.

Subscribe to CNBC on YouTube.

Continue Reading

Technology

Microsoft, Amazon AI partnerships face scrutiny from British regulators

Published

on

By

Microsoft, Amazon AI partnerships face scrutiny from British regulators

A Microsoft logo seen displayed on a smartphone screen and Amazon logo in the background in Athens, Greece on October 5, 2023. 

Nurphoto | Nurphoto | Getty Images

British antitrust regulators are seeking views on partnerships between Microsoft and Amazon with smaller generative AI model makers.

The U.K.’s Competition and Markets Authority on Wednesday said that it was opening invitations to comment for interested third parties to give their views on major AI partnerships between Microsoft and French AI firm Mistral, and Amazon and U.S. startup Anthropic, as well as Microsoft’s hiring of former employees from Inflection AI.

The CMA, which is seeking views from interested parties by May 9, is attempting to investigate whether the arrangements between these companies qualify as mergers.

The invitation to comment is the first part of an information gathering process that comes ahead of the launch of a formal Phase 1 review by British regulators. An invitation to comment does not start the formal Phase 1 review, the CMA noted.

Microsoft disputed the notion that its deal with Mistral and its hirings from Inflection constituted mergers.

In a statement, a Microsoft spokesperson said: “We remain confident that common business practices such as the hiring of talent or making a fractional investment in an AI start-up promote competition and are not the same as a merger.”

“We will provide the UK Competition and Markets Authority with the information it needs to complete its inquiries expeditiously,” the spokesperson added.

An Amazon spokesperson said it was “unprecedented” for the CMA to review a collaboration of the kind that the company had agreed with Anthropic.

“Unlike partnerships between other AI startups and large technology companies, our collaboration with Anthropic includes a limited investment, doesn’t give Amazon a board director or observer role, and continues to have Anthropic running its models on multiple cloud providers,” Amazon’s spokesperson said.

“By investing in Anthropic, which has just released its industry-best, new Claude 3 models, we’re helping make the generative AI segment more competitive than it’s been the last couple years. And, customers are very excited about the opportunities this collaboration is providing them. We’re confident that the facts speak for themselves, and hope the CMA agrees to resolve this quickly.”

This breaking news story is being updated.

Correction: The article has been updated to reflect the CMA is seeking views on a partnership between Microsoft and Mistral, and a separate arrangement between Amazon and Anthropic.

Continue Reading

Technology

U.S. prosecutors seek 36-month sentence for ex-Binance CEO Changpeng Zhao

Published

on

By

U.S. prosecutors seek 36-month sentence for ex-Binance CEO Changpeng Zhao

Changpeng Zhao, founder and CEO of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 16, 2022.

Benoit Tessier | Reuters

U.S. prosecutors are seeking an above-guidance sentence of 36 months for the former CEO of cryptocurrency exchange Binance on charges of enabling money laundering, according to a sentencing memorandum out late Tuesday.

The memorandum, which was filed with the court for the western district of Washington, states that Zhao should serve a higher sentence that suggested under advisory guidelines to “reflect the gravity of his crimes.”

Under advisory guidelines, Zhao’s sentencing would come in at a range of 12 to 18 months in prison.

“A custodial sentence of 36 months—twice the high end of the Guidelines range—would reflect the seriousness of the offense, promote respect for law, afford adequate deterrence, and be sufficient but not greater than necessary to achieve the goals of sentencing,” U.S. prosecutors said.

Zhao is accused of wilfully failing to implement an effective anti-money laundering program as required by the Bank Secrecy Act, and of effectively allowing Binance to process transactions involving proceeds of unlawful activity, including transactions between Americans and individuals in sanctions jurisdictions.

Binance has separately been sued by the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission over the alleged mishandling of customer assets and the operation of an illegal, unregistered exchange in the U.S.

This crypto cycle is different from past ones, Binance CEO says

The U.S., which separately accuses Binance and Zhao of violating the U.S. Bank Secrecy Act and sanctions on Iran, ordered Binance to pay $4.3 billion in fines and forfeiture. Zhao agreed to pay a $50 million fine.

Zhao stepped down as Binance’s CEO in November last year after reaching this plea and was replaced by the former Abu Dhabi markets regulator’s chief, Richard Teng.

Zhao was not immediately available for comment when contacted via social media platform X. Binance has yet to return a request for comment when contacted by CNBC.

‘Unprecedented scale’ of financial crime

Prosecutors say that Zhao violated U.S. law on an “unprecedented scale,” and that he had a “deliberate disregard” for Binance’s legal responsibilities.

In the memorandum of Tuesday, prosecutors said that, under Zhao’s control, Binance operated on a “Wild West” model.

“Zhao bet that he would not get caught, and that if he did, the consequences would not be as serious as the crime,” the memorandum stated.

“But Zhao was caught, and now the Court will decide what price Zhao should pay for his crimes.”

Zhao’s official sentencing is expected to take place on April 30.

New Binance CEO: Building a robust compliance program after an immature past

Continue Reading

Technology

Amazon is opening cloud regions in Southeast Asia to meet customer demand, CTO says

Published

on

By

Amazon is opening cloud regions in Southeast Asia to meet customer demand, CTO says

Generative AI has to incorporate cultural knowledge, Amazon CTO says

Amazon is opening cloud regions in Southeast Asia because customers want their data stored securely in their own countries, Amazon Chief Technology Officer Werner Vogels said in an exclusive interview.

“The reason for this is that many of our customers have been asking for that. They really wanted something local such that they can meet, for example, local data storage requirements, or protection of personal identifiable information,” Vogels told CNBC’s JP Ong.

Amazon’s cloud computing division, Amazon Web Services, was the world’s largest cloud service provider in the fourth quarter, accounting for 31% of total cloud spending, according to a Feb. 26 report from Canalys.

An AWS region is a physical location where data centers are clustered. Within each AWS region are a minimum of three separate availability zones. Each zone has its own power, cooling and physical security and is connected through redundant, ultra-low-latency networks.

“And it’s not just startups that are looking for that. Big enterprises and government agencies as well. You can imagine government agencies want to go through a digital transformation as well,” Vogels said.

“And for them, it’s important to have these kinds of technologies on the ground, in [the] country to make sure that they can serve their customers best or their citizens best,” said Vogels.

Google Cloud CEO: We're monetizing AI in a variety of ways

Amazon in November said it is launching a new AWS Region in Malaysia this year. It previously committed a 25.5 billion Malaysian ringgit ($6 billion) investment by 2037 to support the government’s ambitions to transform Malaysia into a “high-income” digital economy by 2030.

“This new AWS Region will also enable customers with data residency preferences to store data securely in Malaysia, help customers to achieve even lower latency, and serve demand for cloud services across Southeast Asia,” the statement said.

This comes after AWS opened a cloud region in Indonesia in December 2021 and in Singapore in 2010. AWS is also planning to launch an infrastructure region in Thailand.

AWS already operates multiple regions across North America, South America, Europe, China, Asia Pacific, South Africa and the Middle East.

“And especially, of course, the security capabilities that AWS has, that allows us to protect these customers. Security, will be, and is forever, our number one priority. [It] is our number one investment area,” said Vogels.

“And to be able to keep customers safe in our compute regions, [it] is of great attraction to companies here in the region and also governments.”

Continue Reading

Trending