Amazon Stock (AMZN) Makes Headlines on AI Training Deal With NY Times
Amazon (AMZN) stock made some headlines today when it sealed a first-ever AI training deal with the New York Time s (NYT).
Confident Investing Starts Here:
Recipes and Sport
Only two years after the New York Times sued OpenAI and Microsoft (MSFT) for copyright infringement, the iconic newspaper revealed that it had agreed to license its editorial content to Amazon to train the tech giant's AI platforms. Amazon stock was up 1% in early trading as was NYT.
Besides news articles, material will also include NYT Cooking, a site dedicated to food and recipes, and The Athletic, its sports-focused site.
The company also noted that Amazon's use of The Times's editorial content could extend to Alexa software on its smart speakers.
The Times said it was the first time it had agreed to a licensing agreement with a focus on generative AI. technology. 'The deal is consistent with our long-held principle that high-quality journalism is worth paying for,' said The Times chief executive Meredith Kopit Levien.
GenAI Growth
The terms of the deal were not disclosed, but it's also the first such agreement for Amazon. This contrasts with OpenAI which has signed a number of deals with publishers including The Washington Post, The Atlantic, The Guardian, NewsCorp, Axel Springer, and more.
Back in 2023, The Times sued OpenAI and Microsoft after accusing them of using millions of articles it published to train their AI models without consent or compensation. Both OpenAI and Microsoft have rejected accusations of wrongdoing.
This new stance shows the desire of publishers to control how their editorial content is used by tech firms, but also an understanding of the relentless rise in demand for generative AI.
What are the Best AI Stocks to Buy Now?
We have rounded up the best AI stocks to buy using our TipRanks comparison tool.
Disclaimer & Disclosure Report an Issue
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
2 hours ago
- Globe and Mail
Asian shares slide as Russia-Ukraine conflict, OPEC+ output plan push oil prices higher
HONG KONG (AP) — Asian shares sank on Monday and oil prices jumped as trade tensions and the Russian-Ukraine conflict ratcheted up geopolitical uncertainty. Hong Kong's Hang Seng plunged more than 2% as Beijing and Washington traded harsh words over trade. U.S. President Donald Trump's announcement that he will double tariffs on steel and aluminum to 50% layered on still more worries for investors. A report over the weekend that China's factory activity contracted in May, although the decline slowed from April as the country reached a deal with the U.S. to slash President Donald Trump's sky-high tariffs, further undermined market sentiment. Markets in mainland China were closed for a holiday. Oil prices rallied after OPEC+ decided on a modest increase in output beginning in July. It was the third monthly increase in a row. U.S. benchmark crude oil gained $1.60 to $62.39 per barrel, while Brent crude, the international standard, was up $1.41 at $64.19 per barrel. Moscow pounded Ukraine with missiles and drones just hours before a new round of direct peace talks in Istanbul and a Ukrainian drone attack destroyed more than 40 Russian planes deep in Russia's territory, Ukraine's Security Service said on Sunday. Hong Kong's Hang Seng dropped 2.2% to 22,778.45 as China and the U.S. accused each other of breaching their tariff agreement reached in Geneva last month. Tokyo's Nikkei 225 lost 1.6% to 37,356.97, while the Kospi in Seoul fell 0.4% to 2,686.17. Australia's S&P/ASX 200 retreated 0.2% to 8,416.00. On Friday, Wall Street closed its best month since 2023. The S&P 500 retreated less than 0.1% to end at 5,911.69 and the Dow industrials Jones Industrial Average edged 0.1% higher to 42,270.07. The Nasdaq composite fell 0.3% to 19,113.77. Gap weighed on the market even though the retailer reported stronger profit and revenue for the latest quarter than analysts expected. The company behind Banana Republic and Old Navy fell 20.2% after saying tariffs on imports from China and other countries could add up to $300 million to its costs this fiscal year. It has strategies set to mitigate up to half of that before it hits its profits. Hopes had largely been rising that the worst of such worries had passed, which in turn sent stocks rallying, after Trump paused his tariffs on both China and the European Union. A U.S. court then on Wednesday blocked many of Trump's sweeping tariffs. That all sent the S&P 500 in May to its first winning month in four and its best since November. But the tariffs remain in place while the White House appeals the ruling by the U.S. Court of International Trade, and the ultimate outcome is still uncertain. Friday's most influential losses came from several Big Tech stocks. Nvidia fell 2.9% to give back some of its gain from earlier in the week after it topped analysts' expectations for profit in the latest quarter. It was the single heaviest weight by far on the S&P 500. On the winning side of Wall Street was Ulta Beauty, which rose 11.8% after the retailer reported stronger sales and profit than analysts forecast. It also raised the top end of its forecasted range for revenue this fiscal year even though CEO Kecia Steelman called the operating environment 'fluid.' Costco climbed 3.1% after the retailer's results and revenue for the latest quarter edged past analysts' expectations. In the bond market, Treasury yields eased after a report showed that the measure of inflation that the Federal Reserve likes to use was slightly lower in April than economists expected. A separate report from the University of Michigan said that sentiment among U.S. consumers was better in May than economists expected. Sentiment improved in the back half of the month after Trump paused many of his tariffs on China. In currency trading early Monday, the U.S. dollar fell to 143.55 Japanese yen from 143.87 yen. The euro inched up to $1.1364 from $1.1351.
CTV News
3 hours ago
- CTV News
Economy, trade barriers at the top of the agenda ahead of first ministers meeting
Economy, trade barriers at the top of the agenda ahead of first ministers meeting CTV's Jeremie Charron provides a lookahead to the first ministers meeting with the economy and eliminating trade barriers at the top of the agenda.
CTV News
3 hours ago
- CTV News
Canadians react to the closure of Hudson's Bay
Watch CTV's Kamil Karamali gets the reaction from Canadians about the final day of Hudson's Bay being open for business.
