—— Google Launches AI Image Detection Tools; Tmall Builds Short Video Shopping Features; Tiger Global Sells Hundreds of Millions in VC Stakes; Two Global Gold Giants Merge; Remote Work Worsens Drug Use Among U.S. Workers; Microsoft-Activision Deal Gets EU Approval; Rakuten Shares Plunge on Equity Sale Plans
1. Google Launches AI Image Detection Tools
With the rapid development of artificial intelligence, AI-generated images are becoming increasingly realistic, and so are the opportunities for scams.
Google plans to launch two new image search-related features to help users identify AI-generated content and trace original image sources to reduce fraud.
Currently, Midjourney and Shutterstock have agreed to adopt Google’s new tools, and Google hopes the features will be applied across all online images.
As AI-generated visuals become more lifelike, Google’s tools aim to help users spot fake images.
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2. Tmall Builds Short Video Shopping Features
China’s largest e-commerce platform Tmall said Alibaba will focus on content-driven traffic and AI tools for merchants to help Tmall sellers attract more users.
Alibaba’s push into content is meant to compete with ByteDance’s Douyin and other livestreaming platforms. An increasing number of young consumers enjoy shopping while watching live videos, prompting Alibaba to develop similar features.
This Thursday, Alibaba will report its quarterly earnings. Analysts expect growth to be below 3%, due to restrictions on the tech sector and uneven recovery across China.
Tmall’s CEO said the company will spare no expense in developing content and livestreaming commerce.
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3. Tiger Global Sells Hundreds of Millions in VC Stakes
Sources say Tiger Global Management plans to sell hundreds of millions of dollars in private company shares through the secondary market.
As of early this year, the $51 billion private equity firm had most of its capital tied up in startups. According to the Financial Times, the firm hired advisors to explore partial stake sales.
In recent years, Tiger Global and peers have faced one of the toughest VC environments—last year, the firm wrote down its VC portfolio by 33%, losing $23 billion.
With few IPOs, investors are increasingly turning to the secondary market for exits.
Tiger Global’s portfolio includes well-known names such as ByteDance, Snyk, Discord, and Chime.
The firm hopes to use secondary sales to return capital to investors and reduce high-risk positions.
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4. Two Global Gold Giants Merge
Newmont Corp., the world’s largest gold mining company, will acquire Australian rival Newcrest Mining for $19.2 billion, consolidating its global dominance.
The deal was unanimously approved by Newcrest’s board and marks the largest gold mining acquisition in history.
With gold prices nearing all-time highs, the deal will boost Newmont’s production of gold and copper.
Global gold miners face output constraints due to harder-to-mine reserves and rising input costs, making consolidation a path to greater efficiency.
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5. Remote Work Worsens Drug Use Among U.S. Workers
A May 2022 survey by the Atlanta Fed found that among Americans aged 25 to 54, the number of people addicted to substances like marijuana rose 23% compared to pre-pandemic levels, totaling 27 million. Labor force participation in this group also fell 9% to 26%.
A study by rehab center Sierra Tucson found that 20% of U.S. workers admitted to using substances during remote work hours—even while attending virtual meetings. One in five said drug use negatively affects their productivity.
Daniel Angres, medical director at Chicago’s Positive Sobriety Institution, noted that industries such as finance, tech, and law tend to be lax on drug screening, making substance use more prevalent in these sectors.
As remote work becomes the norm, many employees are using drugs during work hours.
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6. Microsoft-Activision Deal Gets EU Approval
Microsoft’s $69 billion acquisition of Activision Blizzard has won approval from EU regulators, reversing a rejection just weeks earlier.
The European Commission said the deal would not harm market competition if Microsoft provides rivals access to Call of Duty and other game franchises.
Following EU approval, Microsoft still needs to win approval in the U.S. and U.K., where resistance remains high.
The U.S. FTC is unlikely to change its stance because of the EU’s decision.
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7. Rakuten Shares Plunge on Equity Sale Plans
Reuters reports that Rakuten Group plans to raise $2.2 billion by issuing new shares, triggering a 9.1% stock drop—the biggest in three years.
Rakuten said it is evaluating various options to improve financial health but has not made a final decision.
In recent years, Rakuten has attempted to break into Japan’s mobile carrier market, where incumbents NTT Docomo, KDDI, and SoftBank hold 95% of the market. Meanwhile, Rakuten has been burning through cash.
Rakuten’s mobile carrier division continues to drain company finances, prompting the need to raise capital.
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This content is sourced from Financial Times, Bloomberg, and The Real Deal, among other financial news outlets.