In recent years, OpenAI gained attention with ChatGPT, but now Nvidia and Microsoft are competing to be the world’s most valuable company. Both companies are investing in startups to strengthen their positions, but they are also under scrutiny from antitrust agencies due to their dominance in the tech industry. Despite past overreaches by trustbusters, big tech firms have also shown a tendency to dominate their markets. The speed at which antitrust authorities are now operating is notable, as historically investigations have been slow and complex. For example, it took 40 years for the Supreme Court to address anticompetitive practices by E.I. Du Pont de Nemours. The Federal Trade Commission is still working to unwind Facebook’s acquisitions of Instagram and WhatsApp, which were made over a decade ago. The tech industry’s power dynamics are shifting rapidly, with both established and emerging companies vying for dominance while facing increased regulatory scrutiny.
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Source link: https://www.economist.com/business/2024/06/23/is-artificial-intelligence-making-big-tech-too-big
Is AI causing tech giants to become too powerful? #BigTech
