All posts tagged: Breaking News: Technology

Trump sued over Truth Social advance access sale

Trump sued over Truth Social advance access sale

Published by Sam Flores

President Donald Trump was sued on Wednesday by a media outlet and a non-profit group seeking to block a controversial new service that sells advance notifications of his posts on Truth Social. The lawsuit, filed in U.S. District Court in Manhattan, notes that Trump’s posts on his own social media site often move financial markets with announcements about government policy, military actions and other decisions. “President Donald Trump is charging $100,000 per month for advance access to his official government announcements on Truth Social, the social media platform he owns,” the civil suit says. “This scheme is extraordinary, corrupt, and unconstitutional, and Plaintiffs bring this case to stop it,” the suit says. “There is no legitimate interest, let alone a significant one, in permitting President Trump to profit from selling government information.” The suit was filed by The Intercept Media, a news organization, and by the Freedom of the Press Foundation, a non-profit group. Read more CNBC politics and policy coverage The complaint alleges that the new service, known as Truth API, violates the First …

Trump Media posts 8 million second-quarter loss as crypto declines

Trump Media posts $238 million second-quarter loss as crypto declines

Published by Sam Flores

Trump Media & Technology Group on Monday reported a net loss of more than $238 million for its fiscal second quarter on revenue of less than $2 million. That loss, which dwarfed the almost $20 million it lost in the same period last year, was primarily due to declines in non-cash assets, including more than $190 million in losses from “digital assets, digital assets pledged, and equity securities,” the company said in a press release. The company’s $1.7 million in quarterly revenue mostly came through ad services on Truth Social, TMTG’s flagship social media product, which is used by President Donald Trump. That revenue marked an 89% increase from the year-ago quarter. The New York Times reported earlier Monday that Truth Social’s traffic — which already paled in comparison to similar platforms, such as Elon Musk’s X — fell sharply this summer. Read more CNBC politics and policy coverage TMTG’s quarterly operating expenses of more than $165 million were roughly 275% higher year over year. “Our operating expenses are largely impacted by the price volatility …

Dems call for AI companies to testify on hacks: ‘Clear risk to safety’

Dems call for AI companies to testify on hacks: ‘Clear risk to safety’

Published by Sam Flores

A group of House Democrats is calling for the leaders of OpenAI, Anthropic and other major AI companies to testify before Congress following a spate of hacking incidents that the lawmakers say “have serious implications for Americans’ safety and security.” “Unfortunately, Congress has so far completely failed to respond to the threats posed by AI development,” the lawmakers wrote to House Speaker Mike Johnson, R-La., in a letter, a copy of which was shared exclusively with CNBC. “That must change,” they wrote in the letter sent Monday. “The CEOs of the largest AI companies should answer questions under oath, and Americans should have a chance to hear from independent experts on the dangers posed by this technology.” Read more CNBC politics and policy coverage The letter comes after a series of cyber breaches in recent weeks have been carried out by models developed by OpenAI and Anthropic, prompting a fresh wave of concern around advanced AI systems and their potential to cause harm. The lawmakers called those incidents “serious” and cautioned they “may be the canary in …

Senate advances landmark crypto bill before heading on August recess

Senate advances landmark crypto bill before heading on August recess

Published by Sam Flores

Senate Majority Leader John Thune (R-SD) talks with reporters at the U.S. Capitol in Washington, DC on July 23, 2026. Nathan Posner | Anadolu | Getty Images U.S. Senate Majority Leader John Thune moved on Saturday to advance a major bill that would create a regulatory framework for cryptocurrencies, which, if passed, would mark a huge victory for U.S. President Donald Trump and the crypto industry. Thune, a South Dakota Republican, early Saturday morning filed to set up a key procedural vote on the Clarity Act when the Senate returns from its August recess in mid-September, potentially paving the way for a full floor vote on the bill, according to the U.S. Senate Press Gallery website. The move suggests Senate Republican leaders believe they may yet be able to wrangle the 60 votes needed for the bill to pass, despite continued opposition by many Democrats. Currently, the bill needs the support of at least eight Democrats and all of the Senate’s voting Republicans for it to pass. The legislation would give the crypto industry its …

Rep. Jim Jordan raises alarms over new South Korean fake news law

Rep. Jim Jordan raises alarms over new South Korean fake news law

Published by Sam Flores

Rep. Jim Jordan (R-OH) speaks to reporters as he arrives for a House Republican conference meeting on Capitol Hill on March, 6 2024 in Washington, DC. Kent Nishimura | Getty Images House Judiciary Committee Republicans sent a letter to the South Korea’s Media and Communications Commission on Thursday expressing their concern over recently adopted online regulations they say could allow the government to censor free speech and attack opposing viewpoints. The letter, reported first by CNBC, calls for a briefing from South Korean officials on their plans to enforce an amendment to the country’s existing data privacy law, which took effect in July and has been dubbed the “fake news” law. It allows the government to issue fines to media outlets and content publishers with more than 100,000 subscribers if they intentionally spread false information. “This amendment serves as a major threat to online speech and expression and would allow the KMCC to punish American companies and their users for exercising their constitutionally protected rights,” the lawmakers, including House Judiciary Committee Chair Jim Jordan, R-Ohio, …

Khanna to introduce ‘Data Center Bill of Rights’ in AI power plants fight

Khanna to introduce ‘Data Center Bill of Rights’ in AI power plants fight

Published by Sam Flores

U.S. Rep. Ro Khanna, D-Calif., speaks during a National Press Club Headliners Newsmaker event in Washington, April 14, 2026. Alex Wong | Getty Images Rep. Ro Khanna is introducing what he calls a “data center bill of rights” as voters nationwide recoil from potential utility rate hikes by the facilities that power artificial intelligence. Khanna, D-Calif., who is widely expected to run for president in 2028, said the resolution would give local communities “the right to say no” to data centers. Khanna recently traveled to Pennsylvania, where he said he heard feedback on data centers. “The biggest feedback I heard was in opposition to these data centers across the state,” he told CNBC. “We need a data center bill of rights where communities don’t have these data centers shoved down their throat, where they can stand up and say no and where they can make sure these aren’t going in farmland or residential communities.” The resolution, shared exclusively with CNBC, would establish a set of rights for local communities to reject data center construction. It …

Kids Online Safety Act social media safety bill advances in Senate

Kids Online Safety Act social media safety bill advances in Senate

Published by Sam Flores

Sen. Marsha Blackburn, R-Tenn., backed up by Sen. Richard Blumenthal, D-Conn., speaks during a rally organized by Accountable Tech and Design It For Us to hold tech and social media companies accountable for taking steps to protect kids and teens online in Washington, Jan. 31, 2024. Jemal Countess | Getty Images Entertainment | Getty Images The Kids Online Safety Act, known as KOSA, cleared a key hurdle Wednesday by advancing through the Senate Commerce, Science and Transportation Committee. The measure, which has strong bipartisan support, is aimed at establishing protections for children’s online safety by creating parental controls and studying the impact of social media on the well-being of kids. The legislation was introduced by Sen. Marsha Blackburn, R-Tenn., with support from Sen. Richard Blumenthal, D-Conn. The proposal has 76 cosponsors in the Senate. A different version of the bill advanced out of the House in June as part of a broader package of proposals to protect children and teens online, though its path to becoming law remains murky. “Children and teens face real risk …

Elizabeth Warren probes UAE tech access after Trump crypto investments

Elizabeth Warren probes UAE tech access after Trump crypto investments

Published by Sam Flores

Ranking member Sen. Elizabeth Warren, D-Mass., questions Federal Reserve Chairman Kevin Warsh as he testifies before the Senate Banking Committee on Capitol Hill in Washington, July 15, 2026. Tasos Katopodis | Getty Images Sen. Elizabeth Warren, D-Mass., on Wednesday demanded that Commerce Secretary Howard Lutnick explain the Trump administration’s July decision to ease export controls on the United Arab Emirates after UAE-linked entities invested hundreds of millions of dollars in President Donald Trump’s family cryptocurrency venture. In a letter shared exclusively with CNBC, Warren asked the Commerce Department to turn over its national-security analysis and disclose whether the Defense, State or Energy departments raised concerns about sensitive U.S. technology being diverted to China or Iran. “The Department’s actions raise significant questions about the potential influence the President’s cryptocurrency business interests may be having on the agency’s operations and our national security,” Warren wrote. The Commerce Department did not immediately respond to a request for comment. The White House also did not immediately respond to a request for comment. Warren’s inquiry focuses on Sheikh Tahnoon bin Zayed …

White House to host AI companies to review new model-testing framework

White House to host AI companies to review new model-testing framework

Published by Sam Flores

US President Donald Trump (R) and Open AI CEO Sam Altman (L) react during a working lunch meeting of G7 members, partner countries, and artificial intelligence business leaders as part of the G7 summit, in Evian, eastern France, on June 17, 2026. Julia Demaree Nikhinson | Afp | Getty Images The White House will host artificial intelligence companies Tuesday to discuss a newly completed framework for reviewing the cybersecurity capabilities of the industry’s most advanced models, a White House official confirmed to CNBC. The meeting will focus on the voluntary framework President Donald Trump ordered in June, the official said, speaking on condition of anonymity to talk about the unannounced meeting. The Information first reported the planned meeting. Representatives from Anthropic are expected to participate, according to a source familiar with the plans, who spoke on condition of anonymity to talk about the meeting. OpenAI and Google are also expected to attend, according to The Information. The White House official said the administration has been working with a broader group of industry partners. Choose CNBC …

ChatGPT accounts for 80% of identifiable House AI spending

ChatGPT accounts for 80% of identifiable House AI spending

Published by Sam Flores

OpenAI CEO Sam Altman speaks with reporters following meetings on Capitol Hill, in Washington, June 3, 2026. Evelyn Hockstein | Reuters OpenAI is dominating the first visible wave of artificial intelligence spending inside Congress. The maker of ChatGPT accounted for roughly $9 out of every $10 spent on identifiable AI tools by House offices, committees and institutional accounts during the year ending March 31, according to a CNBC analysis of House disbursement records. The records offer only a partial view of Congress’ AI adoption because they exclude free accounts, AI bundled into broader software contracts and most Senate use. Even so, they show at least a sixth of House member offices — and likely many more — are already using AI tools as lawmakers shape the industry’s future. CNBC identified at least $113,740 in spending on named AI vendors between April 1, 2025, and March 31, 2026, the most recent data available. ChatGPT accounted for $100,580 of that total across 798 transactions — about 88% of the dollars and 96% of the transactions reviewed. Anthropic’s …