LVIV, UKRAINE - October 25, 2020: Tik Tok application on modern smartphone. Social networks. Black background.
In today's ExchangeWire news digest: TikTok has been revealed to secretly store users' financial information in China; streaming giants see a drop in UK users; and Nvidia surpasses a USD$1tn (~£809.5bn) valuation.
The financial information of thousands of creators and businesses on TikTok has been stored on servers in China, Forbes has revealed. The revelation contradicts Shou Zi’s testimony to the US Congress in March, in which the TikTok CEO claimed “American data has always been stored in Virginia and Singapore in the past, and access of this is on an as-required basis by our engineers globally”.
Streaming heavy hitters Netflix, Disney+, and Amazon Prime Video have all suffered small dips in the number of UK homes accessing their services. New data from Barb Audiences has revealed that 67.4% of UK households had access to at least one SVOD service in Q1 2023, a 1.7% decrease from the previous quarter. According to the Establishment Survey, Netflix’s UK viewership decreased by 1.1%, while Amazon Prime Video and Disney+ suffered losses of 1.7% and 1.9% respectively.
American tech giant Nvidia has become the world’s first USD$1tn (~£809.5bn) chipmaker, thanks to booming demand from companies hoping to integrate artificial intelligence tools into their products. The company’s new valuation follows recent announcements concerning Nvidia’s AI offerings, which included a new supercomputer built around its latest GH200 Grace Hopper Superchip.
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150 million - the number of TikTok users based in the US.
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