Techstrong News Recap – May 2, 2023

Hi again, everyone here the headlines from May 2nd first up following the news of First Republic Banks collapse the JPMorgan Chase and the FDIC moved to secure purchase and assumption agreement to protect the depositors and stabilize the US Financial system. JPMorgan will acquire all of the bank's assets and deposits including 84 offices and eight states for Combined total of over 330 billion dollars. Like Silicon Valley Bank First Republic Bank has been a major banking partner to the world of technology providing a range of Banking and Financial Services to startups and investment Farms through its dedicated technology division.

However as the Fallout from Silicon Valley Bank crisis continued to spread First Republic Bank struggled to maintain confidence among its in customers and investors in an effort to avoid a contagion effect in bolster its own position First Republic Bank put in a massive funding injection to it. Bring its reserves to 70 billion dollars the FDIC C and JP Morgan were among the bank's biggest funders which AP Morgan provided much needed support as the bank struggled to stay afloat. JP Morgan's acquisition of First Republic Bank underscores its position as one of the strongest banks in the US, but it remains to be seen how it will impact the wider tech industry the US economy in the Global Financial system.

Next openai announced that chat GPT is now available again in Italy after the company met the conditions of Italian data protection Regulators who temporarily blocked it over privacy concerns. Open AI said it fulfilled the conditions that the Italian data protection authority wanted Satisfied by an April 30th. Deadline to have the ban on AI software lifted.

the measures included adding information to its website about how it collects and uses data that trains the algorithm powering chat GPT providing EU users with a new form for objecting to having their data used for training and adding a tool to verify users age when signing up the band was imposed last month after the Watchdog found that some users messages and payment information were exposed to others. Other Regulators are now looking closely at such AI systems with France's data privacy regulator and Canada's privacy commissioner investigating after receiving complaints about GPT. In other news arm the uk-based microchip giant has filed to sell its shares in the US aiming to raise up to 10 billion dollars.

SoftBank the Japanese conglomerate that bought arm in 2016 has submitted a draft registration statement for the listing to the US Securities and Exchange Commission arm designs processors or chips that power devices from smartphones to game consoles with designs used by chip manufacturers such as Apple and Samsung. The share price is expected to take place on the technology heavy NASDAQ platform in New York, but no indication has been as to when it will take place. The movie scene is a blow to the UK which arm said it back in March.

It did not play into list in London raising concerns that the UK Market is not doing enough to attract tech companies stock offerings. Next up Google has suffered a blow after a federal judge rejected its motion to dismiss an advertising antitrust case against the company. The US District Judge ruled that the lawsuit which alleges Google's monopolistic power and the online advertising industry can proceed in its entirety.

The case which argues that Google has corrupted legitimate competition in the ad tech industry by systematically seizing control of digital advertising tools will be a key issue in defining the market. Google has previously tried to get the case Consolidated with another lawsuit in New York, but was unsuccessful. And the company now faces a trial with the burden of proof on the government set to increase in a number of states joining the case against Google as plaintiffs.

com. We have a report conducted by New Relic which found a spike in Amazon jdk usage. From applications analyzed 31% of the organizations are using Amazon jdk compared to 28% who are using oracle's jdk.

com. On cloud native now. We've an article looking at how the kubernetes security operations center launched a security posture management platform that looks at Cyber attack activity and offers guidance for remediation.

The kubernetes security operations center has stated that real-time contacts is essential for securing Cloud native application environments in this tool will help do so. com. Finally on Security Boulevard.

We have an article that looks at a report showing how the expanding at Cloud attacks or if this is putting pressure on security teams. From Jupiter 1 state of cyber assets report it revealed digital assets increased by 133 percent year-over-year and security vulnerabilities Jump by an overwhelming 589% while distributed Cloud architecture has helped overall resiliency. com.

And that's today's texturing news recap.