Tech giants in the US lost approximately $1 trillion in market value this week due to recession fears and disappointing economic data, with sharp declines in Nvidia, Apple, and Amazon.
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The European Union's new AI Act, effective August 1, 2024, introduces strict regulations for AI technologies, impacting major U.S. tech companies with its comprehensive framework and penalties for non-compliance.
Microsoft, Amazon, OpenAI, and other tech giants have committed to a landmark international AI safety agreement at the Seoul AI Safety Summit, including a "kill switch" to halt AI development if risks cannot be mitigated.
