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Apple, Meta and Google's parent company are being investigated by the European Union under new laws designed to clamp down on the market power of the world's tech giants.
What's the collective noun for investigations on Big Tech? Because the European Union has just announced a pile of probes on gatekeepers designated under the Digital Markets Act (DMA).
The EU on Monday hit Apple, Google parent Alphabet and Meta with the first ever probes under a mammoth digital law, which could lead to big fines against the US giants.
It's the latest salvo against Big Tech as global regulatory pressures build.
Google will continue to defend the way it complies with the Digital Markets Act in the coming months, the Alphabet unit said on Monday, after EU antitrust regulators started an investigation into potential breaches of the EU tech rules.
EU launches probe into Meta, Apple and Alphabet under sweeping new tech law
EU antitrust regulators on Monday opened their first investigations under the Digital Markets Act into Apple , Alphabet's Google and Meta Platforms for potential breaches of the landmark EU tech rules.
Gartner expects that generative AI will cause search engine traffic to plunge over the next two years. This could be horrible news for Google parent Alphabet, which derives much of its revenue from search.
Big Tech is facing its biggest challenge in decades as antitrust regulators on both sides of the Atlantic crack down on alleged anti-competitive practices that could result in break-up orders to Apple and Alphabet's Google, a first for the industry.
UiPath's stock has plunged below its IPO price. Its revenue growth is stabilizing again in a challenging market.