Microsoft's hiring of employees from artificial intelligence firm Inflection was cleared by the U.K.'s competition regulator on Wednesday.
The U.K. Competition and Markets Authority said Wednesday that Microsoft's deal to acquire "certain assets" from AI company Inflection "does not give rise to a realistic prospect of a substantial lessening of competition as a result of horizontal unilateral effects."The CMA has a separate ongoing probe into Microsoft's multibillion-dollar investment into AI giant OpenAI.
The Competition and Markets Authority said in a statement Wednesday that the U.S. tech giant's deal to acquire "certain assets" from Inflection does count as a "relevant merger situation" in Britain, but that it ultimately "does not give rise to a realistic prospect of a substantial lessening of competition as a result of horizontal unilateral effects.". Suleyman was appointed Microsoft's executive vice president and CEO of Microsoft AI.
However, on Wednesday, the CMA said that, after taking some time to evaluate Microsoft's arrangement with Inflection, it did not find any risk of a substantial lessening of competition. It did, however, maintain its view that the agreement constituted an effective merger.The CMA had not previously spelled out exactly how the hiring of Inflection AI employees could undermine competition.
Microsoft has not publicly revealed any details of a licensing arrangement with Inflection — only that it took on "several members" of the company's 70-person team.reported that the firm paid Inflection $650 million in licensing fees to resell its AI models via its Azure cloud computing platform.
Alphabet Inc Technology Microsoft Corp Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft is rebranding Copilot in the most Microsoft way possibleMicrosoft is getting ready to rebrand its Copilot for its business AI efforts. It’s part of an effort to push Microsoft 365 AI tools.
Read more »
'An inflection point in history': Maddow on Kamala Harris' historic DNC speechThis is additional taxonomy that helps us with analytics
Read more »
White House Climate Adviser Sees 'Fragile Inflection Point' on Energy in USAs the Inflation Reduction Act turns 2 years old, White House Climate Adviser Ali Zaidi said data shows people feel its impact on job growth and energy savings.
Read more »
Inflection Point For Bangladesh: New Credit Paradigm Or Old Playbook?My mission is to shed light on credit meaning in financial news. Credit is a mystery to many. It has been dwarfed by financial products with built-in winners and losers. Credit makes everyone a winner or everyone a loser, depending on motive and structure.
Read more »
Deliveroo shares jump 8% after posting first-ever profit on 'inflection' in consumer demandDeliveroo made a net profit of £1.3 million ($1.7 million) in the six months through June, bouncing from a loss last year.
Read more »
Deliveroo shares jump 8% after posting first-ever profit on ‘inflection' in consumer demandDeliveroo made a net profit of £1.3 million ($1.7 million) in the six months through June, bouncing from a loss last year.
Read more »