microsoft

$MSFTB $NYT.US $OPENAI
Alleging in federal court that the tech companies ​copied the newspapers' journalism without permission to train their AI systems.
• The suit ‌in the U.S. District Court for the Southern District of New York alleges that OpenAI and Microsoft scraped the newspapers' websites, including content behind paywalls, and incorporated articles into datasets used ​to train and operate products including ChatGPT, Microsoft Copilot and Bing's AI features.
• The ​newspapers, based in Seattle and Long Island, New York, said the ⁠companies' AI products can reproduce passages from their reporting, closely paraphrase articles and ​provide users with answers that reduce the need to visit their websites or buy ​subscriptions.
• "We feel strongly that we must defend our content - which we spend millions of dollars a year to produce - from being used without our consent or compensation," Seattle Times President and CEO ​Alan Fisco wrote to employees, according to the newspaper.
• A spokesperson for San Francisco-based ​OpenAI said its models are trained on publicly available data and grounded in fair use, without ‌commenting ⁠specifically on the lawsuit.
• A spokesperson for Microsoft, based near Seattle in Washington state, said in an email: "While we’re surprised by the lawsuit, we appreciate the importance of local journalism and we’re always happy to sit down and explore solutions to this type ​of dispute."
• The Seattle Times ​and Newsday are ⁠seeking an order requiring the destruction of copies of their works as well as training datasets or AI models incorporating them.
• The ​lawsuit echoes a case filed by the New York Times (NYT.N), opens new tab in ​2023, which ⁠accused OpenAI and Microsoft (MSFT.O), opens new tab of using millions of newspaper articles without permission to train OpenAI's popular chatbot. The case is ongoing, and is one of dozens brought by copyright ⁠holders ​against tech companies such as OpenAI, Anthropic and ​Meta for what they say is misuse of their material to train AI systems.
#Microsoft #NYT #OpenAI

The bond issuance linked to Microsoft Corp., known as Project Odyssey, is attracting significant investor interest, with demand now exceeding twice the initial offering target. Bloomberg reports that the corporate bond sale, which is focused on financing data-center projects, may be increased to as much as $3.9 billion due to the overwhelming demand.
This bond offering is notable for offering yields that resemble those typically associated with junk bonds, which are higher than investment-grade debt. The higher yields reflect the perceived risk in the financing, aligned with the nature of the project and the sector it serves.
The strong investor appetite indicates confidence in Microsoft’s strategic investments in data-center infrastructure, despite the somewhat higher risk profile implied by the junk-like yields. The demand suggests that investors see value in the long-term growth prospects tied to cloud computing and data center expansion, especially as digital transformation accelerates.
As the potential increase in bond issuance approaches, market participants will be watching how Microsoft manages its financing strategies and whether this trend signifies broader investor interest in tech-related debt with higher yields. The success of Project Odyssey underscores the ongoing appetite for risk in the corporate bond market, driven by the expansion of digital services and infrastructure. #Microsoft #BondMarket #DataCenters