Explore Business Standard
Associate Sponsors
Co-sponsor
Facebook owner Meta Platforms will buy artificial intelligence chips from Advanced Micro Devices in a deal that will also give it the opportunity to buy up to a 10 per cent stake of the chip company. Meta will buy AMD's latest chips, the MI450, to help power data centres. The 6-gigawatt agreement will see shipments supporting the first gigawatt deployment set to start during the second half of this year. The agreement could potentially be worth more than USD 100 billion. Shares of AMD jumped more than 9 per cent before the market opened on Tuesday. The companies said that AMD issued Meta a performance-based warrant for up to 160 million shares of its common stock at USD 0.01 a piece, structured to vest as long as certain milestones are achieved. The first tranche vests with the initial 1-gigawatt of shipments, with additional tranches vesting as Meta's purchases scale to 6 gigawatts. News of the AMD deal comes just days after Meta announced a long-term partnership where it will us
Adam Mosseri, the head of Meta's Instagram, testified during a landmark social media trial in Los Angeles that he disagrees with the idea that people can be clinically addicted to social media platforms. The question of addiction is a key pillar of the case, where plaintiffs seek to hold social media companies responsible for harms to children who use their platforms. Meta Platforms and Google's YouTube are the two remaining defendants in the case, which TikTok and Snap have settled. At the core of the Los Angeles case is a 20-year-old identified only by the initials "KGM", whose lawsuit could determine how thousands of similar lawsuits against social media companies would play out. She and two other plaintiffs have been selected for bellwether trials - essentially test cases for both sides to see how their arguments play out before a jury. Mosseri said on Wednesday that it's important to differentiate between clinical addiction and what he called problematic use. The plaintiff's ..
Facebook India has posted around 28 per cent increase in standalone profit at Rs 647.45 crore for financial year ended March 2025, according to the company's regulatory filing shared by Tofler. The company had logged a profit of Rs 504.93 crore a year ago. Revenue from operations grew 25 per cent to Rs 3,792.91 crore in FY2025 from Rs 3,034.82 a year ago. "The company's total expenses for the fiscal were reported as Rs 2,881 crore," Tofler said. Employee expenses of Meta-owned Facebook India Online Services Private Limited grew 36 per cent to Rs 648.57 crore during the fiscal as against Rs 476 crore a year ago. The company's tax expense was higher by 46 per cent to Rs 305.18 crore in FY2025 from Rs 209.2 crore in FY2024. According to an analysis by the market intelligence firm Tofler, the operating margin of Facebook declined marginally and net margin inched up to 16.9 per cent in FY2025.
Login credentials, including usernames, passwords, of over 149 million accounts of internet firms, including Gmail, Instagram, Facebook, and Netflix, have allegedly been leaked, a report published by ExpressVPN said. The report published by cybersecurity researcher Jeremiah Fowler claims that the publicly exposed data includes 48 million accounts on Gmail, 4 million on Yahoo, 17 million on Facebook, 6.5 million on Instagram, 3.4 million on Netflix, 1.5 million on Outlook, etc. "The publicly exposed database was not password-protected or encrypted. It contained 149,404,754 unique logins and passwords, totaling a massive 96 GB of raw credential data. In a limited sampling of the exposed documents, I saw thousands of files that included emails, usernames, passwords, and the URL links to the login or authorization for the accounts," Fowler said in the report. Email queries to major firms named in the report did not elicit any immediate reply. Fowler said the database was publicly ...
Authorities say a person was in custody Saturday after six people were killed in a series of related shootings in eastern Mississippi. Clay County Sheriff Eddie Scott said in a Facebook post that multiple innocent lives" were lost "due to violence in the town of West Point, near the Alabama border. The sheriff told WTVA that six people were killed in three locations. A suspect was in custody and there was no threat to the community, the sheriff wrote on Facebook. I ask that you lift our victims and their families in your prayers Law Enforcement is busy investigating and will release an update as soon as possible, he wrote. The sheriff's office did not provide further details early Saturday, but planned a morning news conference.
A 17-year-old girl went live on Facebook, apparently attempting suicide. The video, showing her consuming pills while a melancholic song played on, triggered an automatic alert from Meta AI to the Gorakhpur police, who rushed in only to find it was a prank. She captioned the video, addressing it to her friends, "If I die, don't ask why I died. Just think for yourself what could have been the reason." Responding promptly upon receiving the alert, a police team traced her location and reached a rented room in the Gulriha area. During questioning, she revealed that the video was merely a prank for her friends, a police officer said. The girl, a native of Gopalganj district in Bihar, works as a chef at a local hotel and is active on social media, Gulriha Station House Officer (SHO) Vijay Pratap Singh said. She also told the police that the "pills" in the video was chewing gum, and she had no intention of harming herself. Confirming the incident, the officer said, the police responded