08:22:04 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,650,000
Close 2023-12-28 C$ 20.21
Market Cap C$ 114,186,500
Recent Sedar Documents

Globe says Meta, others see rise of AI oligarchs

2023-12-29 08:44 ET - In the News

Also In the News (C-MSFT) Microsoft CDR (CAD Hedged)

The Globe and Mail reports in its Friday edition that when most Microsoft-backed OpenAI board members were ousted and Sam Altman resumed his role as chief executive officer, Big Tech tightened its grip on the artificial intelligence industry. Guest columnist Connor Spelliscy writes that we will have to wait for the dust to settle before we can know what role Mr. Altman will play at OpenAI, but he could be well positioned to find a place among the tech oligarchs of Silicon Valley, some of whom wield complete control over their Big Tech companies. For examples, look no further than the digital town squares. X, the former Twitter, is privately owned and controlled by Elon Musk, while Meta, despite being a public company, is controlled by Mark Zuckerberg through his special class of supervoting shares. The trend of centralized power among Big Tech companies extends beyond control of the company to the control of the market. Meta, X and Microsoft, among other Big Tech giants, hold dominant positions in crucial markets where competition is scarce. Many of these dominant companies are also expanding their influence in the AI market. They are doing this by investing in new start-ups and developing their own AI tools internally.

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