United States

Three New California Laws Target Tech Companies' Interactions with Children 47

California Governor Gavin Newsom signed three bills on Monday that establish the nation's most comprehensive framework for regulating how technology companies interact with minors. AB 56 requires social media platforms to display health warnings to users under 18. A child must view a skippable ten-second warning upon logging on each day. An unskippable thirty-second warning must appear if a child spends more than three hours on a platform. That warning repeats after each additional hour. The warnings must state that social media "can have a profound risk of harm to the mental health and well-being of children and adolescents." Minnesota passed a similar law in July.

SB 243 makes California the first state to regulate AI companion chatbots. The law takes effect January 1, 2026. Companies must implement age verification and disclose that interactions are artificially generated. Chatbots cannot represent themselves as healthcare professionals. Companies must offer break reminders to minors and prevent them from viewing sexually explicit images. The legislation gained momentum after teenager Adam Raine died by suicide following conversations with OpenAI's ChatGPT. A Colorado family filed suit against Character AI after their daughter's suicide following problematic conversations with the company's chatbots.

AB 1043 requires device-makers like Apple and Google to collect birth dates when parents set up devices for children. Device-makers must group users into four age brackets and share this information with apps. Google, Meta, OpenAI, and Snap supported the bill. The Motion Picture Association opposed it.
Earth

Earth's Climate Has Passed Its First Irreversible Tipping Point and Entered a 'New Reality' (404media.co) 167

Climate change has pushed warm-water coral reefs past a point of no return, marking the first time a major climate tipping point has been crossed, according to a report released on Sunday by an international team in advance of the United Nations Climate Change Conference COP30 in Brazil this November. From a report: Tipping points include global ice loss, Amazon rainforest loss, and the possible collapse of vital ocean currents. Once crossed, they will trigger self-perpetuating and irreversible changes that will lead to new and unpredictable climate conditions. But the new report also emphasizes progress on positive tipping points, such as the rapid rollout of green technologies.

"We can now say that we have passed the first major climate tipping point," said Steve Smith, the Tipping Points Research Impact Fellow at the Global Systems Institute and Green Futures Solutions at the University of Exeter, during a media briefing on Tuesday. "But on the plus side," he added, "we've also passed at least one major positive tipping point in the energy system," referring to the maturation of solar and wind power technologies.

The world is entering a "new reality" as global temperatures will inevitably overshoot the goal of staying within 1.5C of pre-industrial averages set by the Paris Climate Agreement in 2015, warns the Global Tipping Points Report 2025, the second iteration of a collaboration focused on key thresholds in Earth's climate system.

Ubuntu

Flatpak Doesn't Work in Ubuntu 25.10, But a Fix is Coming (phoronix.com) 74

"It's not just you: Flatpak flat-out doesn't work in the new Ubuntu 25.10 release," writes the blog OMG Ubuntu: While Flatpak itself can be installed using apt, trying to install Flatpaks with Flatpak from the command-line throws a "could not unmount revokefs-fuse filesystem" error, followed by "Child process exited with code 1". For those who've installed the Ubuntu 'Questing Quokka' and wanted to kit it out with their favourite software from Flathub, it's a frustrating road bump.

AppArmor, the tool that enforces Ubuntu's security policies for apps, is causing the issue. According to the bug report on Launchpad, the AppArmor profile for fusermount3 lacks the privileges it needs to work properly in Ubuntu 25.10. Fusermount3 is a tool Flatpak relies on to mount and unmount filesystems... This is a bug and it is being worked on. Although there's no timeframe for a fix, it is marked as critical, so will be prioritised.

The bug was reported in early September, but not fixed in time for this week's Ubuntu 25.10 release, reports Phoronix: Only [Friday] an updated AppArmor was pushed to the "questing-proposed" archive for testing. Since then... a number of users have reported that the updated AppArmor from the proposed archive will fix the Flatpak issues being observed. From all the reports so far it looks like that proposed update is in good shape for restoring Flatpak support on Ubuntu 25.10. The Ubuntu team is considering pushing out this update sooner than the typical seven day testing period given the severity of the issue.
More details from WebProNews: Industry insiders point out that AppArmor, Ubuntu's mandatory access control system, was tightened in this release to enhance security... This isn't the first time AppArmor has caused friction; similar issues plagued Telegram Flatpak apps in Ubuntu 24.04 LTS earlier this year, as noted in coverage from OMG Ubuntu.
EU

New Large Coral Reef Discovered Off Naples Containing Rare Ancient Corals (independent.co.uk) 13

Off the southwest cost of Italy, a remotely operated submarine made "a significant and rare discovery," reports the Independent — a vast white coral reef that was 80 metres tall (262 feet) and 2 metres wide (6.56 feet) "containing important species and fossil traces." Often dubbed the "rainforests of the sea", coral reefs are of immense scientific interest due to their status as some of the planet's richest marine ecosystems, harbouring millions of species. They play a crucial role in sustaining marine life but are currently under considerable threat...

hese impressive formations are composed of deep-water hard corals, commonly referred to as "white corals" because of their lack of colour, specifically identified as Lophelia pertusa and Madrepora oculata species. The reef also contains black corals, solitary corals, sponges, and other ecologically important species, as well as fossil traces of oysters and ancient corals, the Italian Research Council said. It called them "true geological testimonies of a distant past."

Mission leader Giorgio Castellan said the finding was "exceptional for Italian seas: bioconstructions of this kind, and of such magnitude, had never been observed in the Dohrn Canyon, and are rarely seen elsewhere in our Mediterranean". The discovery will help scientists understand the ecological role of deep coral habitats and their distribution, especially in the context of conservation and restoration efforts, he added.

The undersea research was funded by the EU.

Thanks to davidone (Slashdot reader #12,252) for sharing the article.
Earth

'I Tracked Amazon's Prime Day Prices. We've Been Played' (msn.com) 83

"Next time Amazon hypes its Prime Days savings, remember this: The prices during the sale aren't always better," writes a Washington Post technology columnist. "I've got the receipts to prove it." I would have saved, on average, almost nothing during Amazon's recent fall "Prime Big Deal Days" — and for some big-ticket purchases, I would have actually paid amore. For the sale that took place Oct. 7 and 8, my family went in prepared. We had a shopping list with prices we'd been tracking... A TV stand he'd been watching jumped 38 percent to $379, from $275 on Oct. 2. Same story for a few other big-ticket items on his list — another console went up from $219.99 to $299. Those products weren't listed as "big deals" on the site, but we certainly didn't expect their prices to spike during Prime Days.

And in other cases, Amazon marketed discounts that turned out to be the exact price it had charged in recent weeks. One example: an Oral-B electric toothbrush was listed as 39 percent off, but actually the same price as in August... Other consumer advocates have warned one common trick is for Amazon to feature artificially inflated "before" prices to make discounts appear larger than they are. Ahead of Amazon's 2017 Prime Day, the nonprofit Consumer Watchdog reported that 61 percent of reference prices on Amazon were higher than any price the company had charged for those items in the prior 90 days... I found products listed as Prime Day discounts that cost the same as I'd paid less than a month earlier. For example, a pack of coronavirus tests I bought on Sept. 12 was the same price on Oct. 8, but listed as "39 percent off." Amazon said I'd gotten a particularly good deal in September, and the Prime Big Deal Days price offers "meaningful savings compared to the typical price customers have paid on Amazon over the last 90 days...."

To actually get a good deal on Amazon, go in with a plan. I use a free website called CamelCamelCamel, which tracks Amazon's historical prices. You can see what's really a discount — and set alerts when prices drop to your target.

The reporter checked every non-grocery purchase they'd made on Amazon for six months. Purchasing the same products on Amazon's "Big Deal Days" would have brought savings of just 0.6%. "And that doesn't include the $139 annual fee to be a member of Amazon Prime."
Education

Microsoft To Provide Free AI Tools For Washington State Schools (geekwire.com) 25

theodp writes: GeekWire reports that Microsoft is bringing artificial intelligence to every public classroom in its home state -- and sparking new questions about its role in education. The Redmond tech giant on Thursday unveiled Microsoft Elevate Washington, a sweeping new initiative that will provide free access to AI-powered software and training for all 295 public school districts and 34 community and technical colleges across Washington state. The program is part of Microsoft Elevate, the company's broader $4 billion, five-year commitment to support schools and nonprofits with AI tools and training that was announced in July.

"This is our home," Microsoft President Brad Smith said at a launch event on the company's headquarters campus. "A big part of what we're doing today is investing in our home." Smith said Microsoft understands the unease around AI in classrooms but argued that waiting isn't an option. "I don't know that it will be possible to slow down the use of AI, even if someone wanted to," he said. In an interview with KING-TV Seattle, Smith added, "We're making a bigger commitment to this state than we are to any state in the country. [...] Above all else, we want to ensure that people can learn how to use the technology of tomorrow. That's the only way for our kids to succeed in the future."

The event on Thursday also included comedian Trevor Noah, the company's "chief questions officer," as well as Code.org CEO Hadi Partovi. Noah and Partovi both also appeared with Smith at the Microsoft Elevate launch event in July, where Smith told Partovi it was time to "switch hats" from coding to AI, adding that "the last 12 years have been about the Hour of Code [Code.org's flagship event, credited with pushing CS into K-12 classrooms], but the future involves the Hour of AI." Code.org last month committed to "engage 25M learners in an Hour of AI in school year '25/'26" at a meeting of the White House Task Force on AI Education that preceded a White House dinner for top execs from the nation's leading AI companies.

Australia

Australia's Queensland Reverses Policy, Pledges To Keep Using Coal Power At Least Into the 2040s (yahoo.com) 46

Australia's Queensland state government said on Friday it would run coal power plants at least into the 2040s, reversing a previous plan to pivot rapidly to renewables and in turn making national emissions reduction targets harder to achieve. From a report: The centre-right Liberal National Party won last year's election in Queensland, a huge chunk of land in Australia's northeast where more than 60% of electricity comes from coal-fired plants that are mostly owned by the state.
Earth

How Plastic Goods Took Over the World, Creating a Throwaway Culture (bloomberg.com) 49

A new book, by Wall Street Journal reporter Saabira Chaudhuri, traces how disposability became a deliberate business strategy rather than an accidental consequence of modern commerce. The book, titled "Consumed: How Big Brands Got Us Hooked on Plastic," emerged from her reporting on how plastic bottles transformed bottled water from an occasional restaurant treat into an everyday staple.

Excerpts from a Bloomberg story: After World War II, the plastics industry made a conscious pivot. Lloyd Stouffer, an industry figure, openly said plastics should move from durable goods to disposables because companies make more money selling something a thousand times than once. The industry sold consumers on hygiene, convenience, modernity and easier household management. McDonald's dropped polystyrene clamshells in the late 1980s under activist pressure but simply swapped one single-use product for another.

Paper containers still cannot be recycled well once food soaks in. The old diaper-service model disappeared. Companies collected, washed and returned cloth diapers like the milkman, but plastics helped kill that business model. Chaudhuri argues companies built their businesses on disposability and will not change unless regulation forces everyone to move together. Executives admit that if they launch a reusable product but competitors do not, they lose market share and face shareholder backlash. Packaging standardization would improve recycling economics. Colored plastics like red shampoo bottles cannot be recycled in a closed loop and are down-cycled into gray products like pipes.
Earth

Climate Goals Go Up in Smoke as US Datacenters Turn To Coal (theregister.com) 62

US datacenters are experiencing a significant shift toward coal-powered energy due to elevated natural gas prices and rapidly growing electricity demand. From a report: According to a research note from financial services firm Jefferies, datacenter operators are racing to connect new capacity to the electrical grid, with accelerated load growth expected during the 2026-2028 period. This spike in demand is driving an unexpected resurgence in coal generation, which has increased nearly 20 percent year-to-date.

The research note, seen by The Register, states: "We raise our estimate for coal generation by ~11 percent (driven by higher capacity factors), and staying elevated through 2027 on favorable fuel pricing vs gas (particularly for existing fleet)." Warnings emerged last year that rising energy demand from the proliferation of data centers in the US risked outstripping available generation capacity, potentially extending the operational life of coal-fired power plants.
Further reading: India Needs Coal For the Next Decade and Nobody Wants To Say It.
Earth

Scientists Seek To Turbocharge a Natural Process That Cools the Earth 97

fjo3 shares a report from the Washington Post: Across vast stretches of farmland in southern Brazil, researchers at a carbon removal company are attempting to accelerate a natural process that normally unfolds over thousands or millions of years. The company, Terradot, is spreading tons of volcanic rock crushed into a fine dust over land where soybeans, sugar cane and other crops are grown. As rain percolates through the soil, chemical reactions pull carbon from the air and convert it into bicarbonate ions that eventually wash into the ocean, where the carbon remains stored. The technique, known as "enhanced rock weathering," is emerging as a promising approach to lock away carbon on a massive scale. Some researchers estimate the method has the potential to sequester billions of tons of carbon, helping slow global climate trends. Other major projects are underway across the globe and have collectively raised over a quarter-billion dollars. [...]

Terradot was founded in 2022 at Stanford, growing out of an independent study between James Kanoff, an undergraduate seeking large-scale carbon removal solutions, and Scott Fendorf, an Earth science professor. Terradot ran a pilot project across 250 hectares in Mexico and began operations in Brazil in late 2023. Since then, the company has spread about 100,000 tons of rock over 4,500 hectares. It has signed contracts to remove about 300,000 tons of carbon dioxide and is backed by a who's who of Silicon Valley. It expects to deliver its first carbon removal credit -- representing one metric ton of verified carbon dioxide removed -- by the end of this year and then scale up from there.
Firefox

Firefox Feature Gets Special Mention In TIME's Best Inventions of 2025 41

Mozilla Firefox's new "Shake to Summarize" feature earned a spot on TIME's Best Inventions of 2025, allowing users to shake their phone to instantly summarize long web pages. Anthony Enzor-DeMeo, general manager of Firefox, calls it a "testament to the incredible work of our UX, design, product, and engineering teams who brought this innovation to life." Neowin reports: Shake to summarize works exactly how you suspect: you physically shake your phone to generate a summary of a long article. This can be quite handy if you are trying to get the gist of a long read without scrolling through the whole thing. Other ways to activate the feature include tapping the thunderbolt icon in the address bar and selecting "Summarize Page" from the three-dot menu.

For now, the feature is limited to iOS users in the US with their system set to English, but Mozilla promises an Android version is in the works. If you have an iPhone 15 Pro or newer running iOS 26, Apple Intelligence generates the summaries on the device. For older iPhones or those on earlier iOS versions, the page text is sent to Mozilla's servers for processing.
You can view the full list of TIME's "Special Mentions" here.
Ubuntu

Ubuntu 25.10 'Questing Quokka' Released (9to5linux.com) 14

prisoninmate shares a report from 9to5Linux: Dubbed Questing Quokka, Ubuntu 25.10 is powered by the latest and greatest Linux 6.17 kernel series for top-notch hardware support and ships with the latest GNOME 49 desktop environment, defaulting to a Wayland-only session for the Ubuntu Desktop flavor, meaning there's no other session to choose from the login screen. Ubuntu Desktop also ships with two new apps, namely GNOME's Loupe instead of Eye of GNOME as the default image viewer, as well as Ptyxis instead of GNOME Terminal as the default terminal emulator. Also, there's a new update notification that will be shown with options to open Software Updater or install updates directly.'

Other highlights of Ubuntu 25.10 include sudo-rs as the default implementation of sudo, Dracut as the default initramfs-tools, Chrony as the default NTP (Network Time Protocol) client, Rust Coreutils as the default implementation of GNU Core Utilities, and TPM-backed FDE (Full Disk Encryption) recovery key management. Moreover, Ubuntu 25.10 adds NVIDIA Dynamic Boost support and enables suspend-resume support in the proprietary NVIDIA graphics driver to prevent corruption and freezes when waking an NVIDIA desktop. For Intel users, Ubuntu 25.10 introduces support for new Intel integrated and discrete GPUs.
Ubuntu 25.10 is available for download here.
Youtube

YouTube Opens 'Second Chance' Program To Creators Banned For Misinformation (theverge.com) 110

YouTube has launched a "second chance" program allowing some creators previously banned for COVID-19 or election misinformation to apply for new channels, as long as their violations were tied to policies that have since been deprecated. Bans for copyright or severe misconduct still remain permanent. The Verge reports: Under political pressure, the company had said last month that it was going to set up this pilot program for "a subset of creators" and "channels terminated for policies that have been deprecated." [...] The new pilot program kicks off today and will roll out to "eligible creators" over the "next several weeks," YouTube says. "We'll consider several factors when evaluating requests for new channels, like whether the creator committed particularly severe or persistent violations of our Community Guidelines or Terms of Service, or whether the creator's on- or off-platform activity harmed or may continue to harm the YouTube community."

The pilot won't be available if you were banned for copyright infringement or for violating YouTube's Creator Responsibility policies, the company says. If you deleted your YouTube channel or Google account, you won't be able to request a new channel "at this time." And YouTube notes that if your channel has been banned, you won't be eligible to apply for a new one until one year after it was terminated.
"We know many terminated creators deserve a second chance -- YouTube has evolved and changed over the past 20 years, and we've had our share of second chances to get things right with our community too," YouTube says. "Our goal is to roll this out to creators who are eligible to apply over the coming months, and we appreciate the patience as we ramp up, carefully review requests, and learn as we go."
Intel

Intel's Open Source Future in Question as Exec Says He's Done Carrying the Competition (theregister.com) 41

An anonymous reader shares a report: Over the years, Intel has established itself as a paragon of the open source community, but that could soon change under the x86 giant's new leadership. Speaking to press and analysts at Intel's Tech Tour in Arizona last week, Kevork Kechichian, who now leads Intel's datacenter biz, believes it's time to rethink what Chipzilla contributes to the open source community. "We have probably the largest footprint on open source out there from an infrastructure standpoint," he said during his opening keynote. "We need to find a balance where we use that as an advantage to Intel and not let everyone else take it and run with it."

In other words, the company needs to ensure that its competitors don't benefit more from Intel's open source contributions than it does. Speaking with El Reg during a press event in Arizona last week, Kechichian emphasized that the company has no intention of abandoning the open source community. "Our intention is never to leave open source," he said. "There are lots of people benefiting from the huge investment that Intel put in there." "We're just going to figure out how we can get more out of that [Intel's open source contributions] versus everyone else using our investments," he added.

United States

Judge Dismisses Retail Group's Challenge To New York Surveillance Pricing Law (reuters.com) 23

A federal judge has dismissed a lawsuit by the National Retail Federation challenging a New York state law that requires retailers to tell customers when their personal data are used to set prices, known as surveillance pricing. From a report: U.S. District Judge Jed Rakoff in Manhattan said the world's largest retail trade group did not plausibly allege that New York's Algorithmic Pricing Disclosure Act violated its members' free speech rights under the Constitution's First Amendment.

The first-in-the-nation law required retailers to disclose in capital letters when prices were set by algorithms using personal data, or face possible civil fines of $1,000 per violation. Governor Kathy Hochul said charging different prices depending on what people were willing to pay was "opaque," and prevented comparison-shopping.

China

China Confirms Solar Panel Projects Are Irreversibly Changing Desert Ecosystems (glassalmanac.com) 77

An anonymous reader shares a report: China's giant solar parks aren't just changing the power mix -- they may be changing the ground beneath them. Fresh field data point to cooler soils, extra moisture, and pockets of greening, though lasting ecological shifts will hinge on design and long-term care.

[...] A team studying one of the largest photovoltaic parks in China, the Gonghe project in the Talatan Desert, found a striking difference between what was happening under the panels and what lay just beyond. They used a detailed framework measuring dozens of indicators -- everything from soil chemistry to microbial life -- and discovered that the micro-environment beneath the panels was noticeably healthier. The reasons track with physics: shade cools the surface and slows evaporation, letting scarce soil moisture linger longer; field experiments in western China report measurable soil-moisture gains beneath shaded arrays.

Simple shade from panel rows can create a gentler microclimate at ground level, cutting wind stress and helping fragile seedlings establish. In other desert locations like Gansu and the Gobi, year-round field data tell a similar story. Soil temperatures beneath arrays tend to be cooler during the day and a bit warmer at night than surrounding ground, with humidity patterns shifting in tandem -- conditions that can make harsh surfaces more habitable when paired with basic land care. Even small shifts like these can help re-establish vegetation -- if combined with erosion control and water management. These aren't wildflowers blooming overnight, but they are signs that utility-scale solar can double as a modest micro-restorer.

United Kingdom

UK's Central Bank Warns of Growing Risk That AI Bubble Could Burst (theguardian.com) 82

The Bank of England has warned there is a growing risk of a "sudden correction" in global markets as it raised concerns about soaring valuations of leading AI tech companies. From a report: Policymakers said there were also threats of a "sharp repricing of US dollar assets" if the Federal Reserve lost credibility in the eyes of global investors. It comes as Donald Trump's continues to attack the US central bank and threaten its independence.

Continued hype and optimism about the potential for AI technology has led to a rise in valuations in recent months, with companies such as OpenAI now worth $500 billion, compared with $157 billion last October. Another firm, Anthropic, has almost trebled its valuation, going from $60 billion in March to $170 billion last month.

However, the Bank of England's financial policy committee (FPC) warned on Wednesday: "The risk of a sharp market correction has increased. "On a number of measures, equity market valuations appear stretched, particularly for technology companies focused on artificial intelligence. This ... leaves equity markets particularly exposed should expectations around the impact of AI become less optimistic." It said investors had not fully accounted for these potential risks, warning that "a sudden correction could occur" should any of them crystallise, resulting in finance drying up for households and businesses. The FPC added: "As an open economy with a global financial centre, the risk of spillovers to the UK financial system from such global shocks is material."

Books

Internet Archive Ordered to Block Books in Belgium (torrentfreak.com) 46

After failed negotiations with publishers, Belgium's copyright enforcement agency has ordered the Internet Archive to block access to specific books in its Open Library within Belgium or face a 500,000-euro fine. TorrentFreak reports: Back in July, the Brussels Business Court issued a sweeping ex parte site-blocking order targeting several "shadow libraries" including Anna's Archive, Libgen, and Z-Library. Unusually, the order also included the Internet Archive's Open Library, a project operated by the well-known U.S. non-profit organization Internet Archive. The order was granted based on a request from publishers and authors who claimed, among other things, that the operators of the targeted sites were difficult to identify. This also applied to the Internet Archive, which was not heard by the court before the order was issued.

[...] Over the past several weeks, Internet Archive attempted to reach an agreement with the publishers, but the effort was unsuccessful. It is clear, however, that the Internet Archive believes that its use of copyrighted books for the Open Library qualifies as fair use. The organization is known to purchase physical copies, which it then digitizes to lend out to patrons, one copy at a time. This self-digitizing project was previously contested in a U.S. federal court, where the publishers ultimately came out as the winner. They argued that the Internet Archive project competed with their own licensing business for book lending. The detailed arguments at the center of the Belgian case are not public, but after hearing both sides, the Department for Combating Infringements of Copyright concluded that Internet Archive must take action.

In a follow-up decision (PDF) published last week, the government department explicitly states that it can't rule on U.S. fair use or the Belgian equivalent, but concludes that self-blocking measures are warranted. The Internet Archive hosts the contested books and has the ability to render them inaccessible. If it refuses to do so, it may be considered a copyright infringer under local law. The final decision requires the rightsholders to supply the Internet Archive with a list of all books that should be blocked in Belgium. The non-profit then has 20 calendar days to implement the necessary measures. In addition to making the books unavailable, Internet Archive must also prevent these works from being made available for digital lending in the future.

Businesses

Polymarket Founder Is Youngest Self-Made Billionaire After Deal With NYSE Owner (yahoo.com) 56

Shayne Coplan, a 27-year-old NYU dropout who founded Polymarket from his bathroom in 2020, has become the youngest self-made billionaire after Intercontinental Exchange (owner of the NYSE) invested up to $2 billion in his once-controversial prediction market platform. Bloomberg reports: A couple of years after dropping out of New York University with dreams of making it big in crypto, Shayne Coplan was so broke that he took an inventory of his Lower East Side apartment so that he could sell belongings to make rent. Fed up with crypto grifts, in 2019 he started to explore economist Robin Hanson's ideas on prediction markets and their potential for improving society's ability to identify likely outcomes. "This is too good of an idea to just exist in whitepapers," he recalled thinking in a later post on X. Then Covid struck -- the perfect time to develop an app for stuck-at-home folks to bet on real-world outcomes, he reasoned. He began building Polymarket from his bathroom and launched the platform in June 2020.

It wasn't a smooth road. The company's move-fast, ask-permission-later approach repeatedly ran afoul of regulators, who forced it to ban US-based users for years because it wasn't a registered exchange. A week after the 2024 presidential election -- one that Polymarket users wagered more than $3 billion on -- Coplan's apartment was raided by FBI agents. But he and his company are now riding high after Intercontinental Exchange Inc., the owner of the New York Stock Exchange, said it would invest as much as $2 billion in Polymarket at an $8 billion pre-money valuation. That deal makes its 27-year-old founder the youngest self-made billionaire tracked by the Bloomberg Billionaires Index.

The Almighty Buck

Insurers Balk At Paying Out Huge Settlements For Claims Against AI Firms 25

An anonymous reader quotes a report from the Financial Times: OpenAI and Anthropic are considering using investor funds to settle potential claims from multibillion-dollar lawsuits, as insurers balk at providing comprehensive coverage for the risks associated with artificial intelligence. The two US-based AI start-ups have traditional business insurance coverage in place, but insurance professionals said AI model providers will struggle to secure protection for the full scale of damages they may need to pay out in the future. OpenAI, which has tapped the world's second-largest insurance broker Aon for help, has secured cover of up to $300 million for emerging AI risks, according to people familiar with the company's policy. Another person familiar with the policy disputed that figure, saying it was much lower. But all agreed the amount fell far short of the coverage to insure against potential losses from a series of multibillion-dollar legal claims.

[...] Two people with knowledge of the matter said OpenAI has considered "self insurance," or putting aside investor funding in order to expand its coverage. The company has raised nearly $60 billion to date, with a substantial amount of the funding contingent on a proposed corporate restructuring. One of those people said OpenAI had discussed setting up a "captive" -- a ringfenced insurance vehicle often used by large companies to manage emerging risks. Big tech companies such as Microsoft, Meta, and Google have used captives to cover Internet-era liabilities such as cyber or social media. Captives can also carry risks, since a substantial claim can deplete an underfunded captive, leaving the parent company vulnerable. OpenAI said it has insurance in place and is evaluating different insurance structures as the company grows, but does not currently have a captive and declined to comment on future plans.

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