Paris prosecutor contacts police as probe into social media platform X advances
The investigations will focus on suspicion of "tampering with the operation of an automated data processing system as part of an organized gang and the fraudulent extraction of data from an organized automated data processing system," it said.
This comes after the cybercrime unit of the Paris public prosecutor's office had received in January 2025 two reports from a member of parliament and a senior official of a French public institution that concerned the alleged use of X's algorithm for foreign interference.
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CNA
3 hours ago
- CNA
Analysis:Powerful new AI models knock the wind out of European adopter stocks
LONDON :A rout in shares of European companies embracing artificial intelligence deepened this week, as powerful new AI models raise questions about whether sectors from software to data analytics could find themselves overtaken by the technology. European software stocks, including Germany's SAP and France's Dassault Systemes, tumbled on Tuesday as worries that AI will disrupt the software sector spread through the market. That followed a downgrade to U.S. rival Adobe on Monday by broker Melius Research. Since mid-July, shares in markets and data group LSEG, UK software firm Sage, and French IT consulting group Capgemini have dropped 14.4 per cent, 10.8 per cent and 12.3 per cent respectively. Such companies - dubbed AI adopters by analysts - are investing heavily in the technology to beef up their products and services. Amid a dearth of European AI companies and suppliers, their shares had benefitted as investors in the region sought a way to tap the AI boom powering U.S. markets. But the release of ever more powerful AI tools appears to have prompted a rethink among some market players. Last week, OpenAI launched its GPT-5 model, the latest iteration of the AI technology that has helped transform global business and culture since ChatGPT arrived in late 2022. Kunal Kothari, a fund manager at Aviva Investors, also pointed to the July 15 release of Anthropic's Claude for Financial Services. "The app that came out has now challenged an investment case around London Stock Exchange (LSEG), around the provision of financial data," he said. "We're at the stage now with every iteration of GPT or Claude that comes out ... it's multiples more capable than the previous generation. The market's thinking: 'oh, wait, that challenges this business model'." The drop in European adopter stocks contrasts with broader market gains. Since mid-July, London's FTSE 100 is up 2.5 per cent and Europe's STOXX 600 up 0.6 per cent, while U.S. indexes have scaled record highs, largely powered by tech stocks. Exacerbating matters is the fact that many European adopter stocks trade on high multiples, making them vulnerable to any potential negative news, according to Bernie Ahkong, Chief Investment Officer at hedge fund UBS O'Connor. The STOXX 600 trades at an average price-to-earnings multiple of 17 times, while SAP - whose shares are down 7.2 per cent since mid-July after posting their biggest daily drop since late 2020 on Tuesday - trades at around 45 times. WILL AI 'EAT SOFTWARE'? Although many AI adopter stocks are struggling, some investors say markets will eventually take a more systematic approach, picking out potential winners and losers. "At the moment, it feels like the market's just shooting first and putting them all in a 'challenged basket'," said Aviva's Kothari, referring to the decline in UK AI adopters. The hype around new AI models has led to the resurfacing of 2017 comments from Jensen Huang, the CEO of AI chipmaking behemoth Nvidia, that "AI is going to eat software". "We don't disagree, but we believe some delineation is warranted here, as not all software companies are equally exposed," said Steve Wreford, portfolio manager on the global thematic equity team at Lazard Asset Management. He said those with software deeply embedded into client company workflows, or with hard-to-replicate proprietary data, still had strong competitive advantages. Paddy Flood, portfolio manager and global sector specialist, technology, at Schroders, said it was important to distinguish between different types of software. "Enterprise-grade applications are less exposed, given their mission-critical nature, the complexity involved in replacing them, and the value of a trusted vendor ensuring ongoing service," he said. Aviva's Kothari also flagged the benefits of having software deeply embedded with customers, citing UK credit data firm Experian as an example. "It has lots of data unique to it, but it's also hugely embedded in the workflows of financial institutions. They want to make a loan, they need Experian," he said, also highlighting Britain's Sage. He holds both stocks, along with LSEG, but cautioned that proprietary data alone may no longer be enough to protect businesses. "I just don't think data is a big enough moat anymore," he said. The selloff in AI adopter stocks could be an opportunity for investors to pick the winners, said UBS O'Connor's Ahkong. "Some of the affected names will actually be able to use AI as an opportunity and tailwind for earnings, but need to prove that from here and that will take time," Ahkong said. But how much time the companies have is unclear. Some investors were already warning earlier this year that the clock was ticking for big spenders on AI to show returns.
CNA
4 hours ago
- CNA
California Coastal Commission opposes SpaceX launch expansion on West Coast, again
LOS ANGELES :The California Coastal Commission voted on Thursday against a plan by Elon Musk's SpaceX to nearly double the number of Falcon 9 rocket launches the company is permitted to conduct each year from Vandenberg Space Force Base, from 50 to 95. But as was the case when the commission voted last October to oppose a previous SpaceX launch expansion from 36 to 50 at the installation, the U.S. government can merely override the objections of California regulators and approve the latest plan. The U.S. Department of the Air Force, parent agency of the Space Force, has taken the position that the proposed launch expansion at Vandenberg, about 60 miles (97 km) northwest of Santa Barbara on the central California coast, is a federal activity exempt from further state oversight. A commission staff report countered that of 51 rockets launched last year from Vandenberg, SpaceX Falcon 9s accounted for 46 of them. While SpaceX flies some missions for the Defense Department and NASA, the enlarged launch operations SpaceX envisions are primarily for carrying payloads for the company's own Starlink satellite network, the report said. SpaceX also has sought to expand its launch facilities at NASA's Kennedy Space Center in Cape Canaveral, Florida. Air Force officials did not attend Thursday's commission meeting in Calabasas, north of Los Angeles, where the panel voted 11-0 against SpaceX. Neither representatives for SpaceX nor the Air Force could immediately be reached for comment. SpaceX has sued the California Coastal Commission over its previous objections, accusing the agency of singling out Musk's company for greater regulation in retaliation for his political views. In addition to allowing as many as 95 launches a year by the company's workhorse Falcon 9, the new plan would permit up to five Falcon Heavy rocket launches annually, and up to 24 landings by the company's reusable rocket boosters, twice as many as previously approved. Two new landing zones at the base would also be built. At-sea landings would also be increased. In recommending disapproval, commission staff cited what it called insufficient information about the plan and concerns over noise pollution and wildlife disturbance from more frequent, louder sonic booms as SpaceX launch activity escalates.
AsiaOne
6 hours ago
- AsiaOne
USaid failed to monitor uses of Musk's Starlink terminals sent to Ukraine, says watchdog, World News
WASHINGTON — The US Agency for International Development did not monitor the uses of 5,175 Starlink terminals sent to Ukraine, with nearly half of the operational units ending up in areas fully or partly held by Moscow, according to a report by the agency's internal watchdog. USaid's inspector general found that the agency failed to keep track of the terminals of Elon Musk's satellite internet service because it had accepted a higher risk of misuse due to "the complex wartime environment" and Ukraine's urgent need for them. "As a result, USaid did not know where the terminals were or how they were used," said the report dated Aug 11 that was reviewed by Reuters. In response, USaid said it was impractical to track the terminals once they were handed to Ukraine because of the dangerous wartime conditions and the "unprecedented emergency" created by Russian strikes on communications systems. "The primary objective was to restore life-saving connectivity for critical public services, such as healthcare, municipal emergency shelters, and local governance," said a USaid letter included in the report. The findings were first reported by Bloomberg. The report did not examine Ukraine's use of the terminals for military operations, including drone flights, artillery targeting and communications. After Russia's full-scale invasion in February 2022, USaid partnered with Musk's SpaceX company to provide 5,175 Starlink terminals to Ukraine to sustain critical civilian services and internet connectivity, the report said. USaid delivered to Kyiv 1,508 terminals that it purchased and 3,667 units donated by SpaceX, said the report. It found that USaid did not "fully mitigate" the risk of the terminals being misused, and that more than half of the "active" units were "present in territories that Russia fully or partially occupied." The report did not say how those terminals ended up in those areas, who had them or the purposes for which they were used. Kyiv last year charged that Russian occupation troops had been using thousands of Starlink terminals acquired from private Russian firms, allegations denied by the Kremlin and by Musk. [[nid:721367]]
