Fortune Tech: Amazon alleged overcharging, Nissan-Honda software collab, EU ChatGPT designation

Amazon (AMZN) blocked Meta's (META) Muse AI agent, citing security concerns and competition in the $19.81B ad business. Amazon reported $200.61B revenue, up 19.6% YoY, with AWS growing 36.7%. Meta's revenue hit $60.80B, up 27.96%, but missed EPS estimates and saw free cash flow drop to $784M. The conflict centers on control over shopper data and ad revenue.

Big Tech companies are facing challenges in securing reliable electricity for their expanding AI infrastructure, with demand projected to surge over 1,100% by 2033. Companies like Amazon, Meta, and Oracle are investing heavily in data centers and power infrastructure, while also committing to cover grid-upgrade costs. Oracle's Project Jupiter highlights financial risks due to power-delivery delays. Amazon and Meta are spending on backup generation and new power plants, respectively.

Indivior Pharmaceuticals ended its collaboration with Addex Therapeutics on positive allosteric modulators (PAMs) ahead of its merger with Supernus. Indivior returned all PAM assets to Addex, which plans to explore strategic options for advancing its GABAB receptor portfolio. Indivior had previously discontinued another collaboration in April. The merger with Supernus is expected to create a new CNS-focused biopharma.

Shopify (SHOP) has partnered with Meta to allow Muse to facilitate purchases from eligible Shopify stores, while Amazon (AMZN) is blocking Muse and other AI shopping tools. Shopify's shares rose over 5% on the news. Amazon's move may be to protect its advertising business and shopping experience. Hedge fund ownership trends and short interest data for both companies were also reported.

Amazon plans to invest $3 billion in India's quick commerce sector by 2030, aiming to expand its Amazon Now service. The company targets 1,300 stores by April 2024, focusing on daily essentials and improving inventory management. Amazon's quick commerce business has reached $1 billion in annualised gross sales. The sector is expected to grow to $41 billion by 2030, according to Datum Intelligence.

Amazon and Generac agreed on a long-term supply deal for backup generators, with Generac expecting $2.4B in deliveries by 2028 and up to $8B in total. Amazon gained a warrant for 1.69M Generac shares. Generac's shares surged 18% post-announcement. The deal highlights Amazon's strategy to secure critical infrastructure for AI data centers.