TNB Tech Minute: Top OpenAI and Microsoft Staff Knew Scraping News Websites was an ‘Existential Threat’

0:00Your financial life rarely fits between nine and five, and the questions shaping your future don't follow a schedule. That's why Citi created Citi Sky, a secure AI member of your Citi wealth team built with the Gemini platform on Google Cloud. Whether expanding your portfolio or planning your future, you'll be able to access tailored wealth guidance on your time. Start building with Gemini at cloud.google.com slash AI. Citi wealth investment products and services are provided by Citigroup Global Markets, Inc., member FINRA and SIPC. Here's your morning TNB Tech Minute for Friday, September 18th.

0:35I'm Danny Lewis for The Wall Street Journal. A newly unsealed legal filing says top staff at OpenAI and Microsoft knew that scraping news websites to train their AI models could eventually damage or destroy those publications, and then did it anyway. The filing is part of a copyright lawsuit against the tech companies brought by The New York Times and several other large newspapers. It cites internal company documents as well as testimony from Microsoft CEO Satya Nadella and comments by OpenAI executives calling the move an existential threat to media outlets. The tech companies have argued that their actions constituted fair use.

1:12News Corp, owner of the Wall Street Journal, has content deals with OpenAI and Meta. Two News Corp subsidiaries have sued another AI company, Perplexity. Elsewhere in AI, the journal exclusively reports that independent security researchers used Anthropics' clawed software to hack into OpenAI's systems. The team quickly reported their findings to the chat GPT maker, which paid them a$6 ,500 bounty as part of a bug hunting program. OpenAI says the vulnerabilities the researchers used to gain access to an employee's chat GPT account have since been patched. An Anthropics spokesman declined to comment.

1:47And Coinbase Global says it has sought approval to list perpetual futures tied to individual large-cap U.S. stocks. Those are speculative derivative contracts that never expire, which allows traders to pile on leverage that amplifies potential gains and losses. Coinbase plans to list perpetual futures tied to dozens of popular stocks, including Apple, Microsoft, Tesla, and NVIDIA. It plans to launch trading later this year, pending regulatory approval. That's your TNB Tech Minute. Join us again this afternoon for more.

2:46FINRA and SIPC.