All posts tagged: MultibillionDollar

From floppy discs to Claude Mythos, how ransomware grew into a multibillion-dollar industry

From floppy discs to Claude Mythos, how ransomware grew into a multibillion-dollar industry

When evolutionary biologist Joseph Popp coded the first documented piece of ransomware in 1989, he had little idea it would become a major criminal business model capable of bringing economies to their knees. Popp, who worked for the World Health Organization at the time, wanted to warn people about the dangers of ignoring health warnings, poor sexual hygiene and (human) virus transmission. He sent out 20,0000 floppy discs that, when loaded, flashed up a demand for money to regain files that had supposedly been encrypted (in fact, it was just their file names). He was later arrested and charged with 11 counts of blackmail, but declared mentally unfit to stand trial. In 1996, two Columbia University computer scientists published a paper explaining how criminals could use more sophisticated versions of Popp’s scheme to mount large-scale extortion operations. At the heart of this was malicious software that could be used to encrypt, block access to or steal a person or organisation’s files and data. However, two preconditions still had to be met for ransomware to become …

Meta and AMD’s Multibillion-Dollar Deal Is All About the AI Chips

Meta and AMD’s Multibillion-Dollar Deal Is All About the AI Chips

Meta is joining OpenAI as one of the major tech companies to take a stake in chipmaker AMD, as part of an AI hardware buying frenzy. Meta and AMD on Tuesday announced a partnership that will involve CEO Mark Zuckerberg’s tech giant buying billions of dollars’ worth of AMD Instinct GPUs in order to fuel its ambitions to build out AI offerings across Meta platforms, including Instagram, Facebook and WhatsApp. In a release, Meta described the deal as “multi-year,” and said the AI purchase will provide Meta with up to 6 gigawatts of AMD GPUs, “the silicon computing technology used to support modern AI models.”  According to the US Department of Energy, a single gigawatt (1 billion watts) is equivalent to nearly 2,000 large solar panels or 100 million LED bulbs. In AMD’s version of the announcement, CEO Lisa Su said, “We are proud to expand our strategic partnership with Meta as they push the boundaries of AI at unprecedented scale.” As part of the deal, Meta will take a 10% stake in AMD. AMD, …