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Nov 19, 2025
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Supported by
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Happy Wednesday! Meta Platforms wins an antitrust case brought by the Federal Trade Commission. Google releases Gemini 3.0. Microsoft and Nvidia will investment in Anthropic, and Anthropic will spend $30 billion to rent servers with Nvidia chips from Microsoft.
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A judge has ruled in favor of Meta Platforms in a landmark antitrust case brought by the Federal Trade Commission, which had argued that Meta’s acquisitions of Instagram and Whatsapp violated antitrust law. In an opinion filed on Tuesday, U.S. District Judge James Boasberg said the FTC had not proved that Meta holds a monopoly in the social networking market. Boasberg said the landscape had changed a lot since the case was originally brought by the agency five years ago. “Whether or not Meta enjoyed monopoly power in the past, though, the agency must show that it continues to hold such power now,” Boasberg said in the ruling. The case went to trial earlier this year and several high-profile Meta executives, including CEO Mark Zuckerberg and Instagram head Adam Mosseri appeared in court to give testimony.
“The Court’s decision today recognizes that Meta faces fierce competition,” Meta spokesperson Andy Stone said in a statement, adding that: “We look forward to continuing to partner with the Administration and to invest in America.” FTC spokesperson Joseph Simonson said in a statement: “We are deeply disappointed in this decision. The deck was always stacked against us with Judge Boasberg, who is currently facing articles of impeachment. We are reviewing all our options.”
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Google on Tuesday released Gemini 3.0, the long-awaited update to its flagship AI model. The new model has improved on its predecessor, Gemini 2.5, on all major AI benchmarks, including reasoning and solving problems involving mediums other than text. It is a significant improvement to its predecessor on coding, although it is still slightly behind Anthropic’s and OpenAI’s latest models on the popular benchmark swe-bench. In particular, early users have praised the new model’s ability to generate design styles. Gemini 3.0 is available to users now on the Gemini app and Google Search’s AI Mode chatbot, and to developers on a range of different enterprise products, including the newly released agentic software development tool “Gemini Antigravity.”
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Microsoft will invest $5 billion in Anthropic, and Nvidia will invest $10 billion in the startup, the three companies announced on Tuesday. Meanwhile, Anthropic will spend at least $30 billion to rent servers from Microsoft’s Azure cloud equipped with Nvidia chips over an unspecified period, and its models will become available for purchase on Azure for the first time, the companies said. Anthropic’s existing shareholders include Microsoft rivals Amazon and Google. Anthropic has primarily relied on cloud servers from those two firms to run its models. Anthropic said in a statement that “Amazon remains Anthropic’s primary cloud provider and training partner.” The deals show how Microsoft is deepening its ties with OpenAI’s archrival after amending its deal with OpenAI earlier this year. Microsoft, which has
invested $13 billion in OpenAI, has the rights to reuse OpenAI’s models in its own products and OpenAI has committed to spend more than $250 billion to rent Azure servers in the coming years. Microsoft earlier this year started paying Anthropic to use its models in its products, in addition to those from OpenAI. Unlike its deal with OpenAI, Microsoft’s investment with Anthropic doesn’t grant Microsoft intellectual property rights over Anthropic’s models, according to a company spokesperson. “As an industry we need to move beyond any zero sum narrative or
winner-take-all hype,” Microsoft CEO Satya Nadella said in a video announcing the Anthropic deal. “The opportunity is simply too big to approach any other way.” Anthropic’s initial $30 billion commitment will pay for roughly one gigawatt of Azure servers equipped with Nvidia’s NVIDIA Grace Blackwell and Vera Rubin chips, according to an Nvidia spokesperson. In addition, Microsoft said that Anthropic will contract up to an additional gigawatt of server capacity from Azure over an unspecified time period. A Microsoft spokesperson declined to comment on whether Microsoft plans to build additional data centers to provide Anthropic with that capacity. One gigawatt of capacity typically costs cloud providers around $50 billion to build.
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Kraken, the crypto exchange that’s aiming to go public next year, said Tuesday it raised a $200 million strategic investment from Ken Griffin’s Citadel Securities at a $20 billion valuation. The exchange has already raised $600 million at a $15 billion valuation tranche from investors including Jane Street, DRW, HSG, formerly Sequoia Capital China, Oppenheimer Alternative Investment Management and Tribe Capital, along with a significant commitment from Kraken co-CEO Arjun Sethi’s family office. Citadel Securities will support Kraken with liquidity for trading, risk management expertise, and market structure insights, the announcement said. Kraken made $1.5 billion in revenue in 2024. In the third quarter, it made $648 million in revenue, up 114% from a year ago.
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John Hegeman is stepping down as Meta’s chief revenue officer and will be replaced by Andrew Bocking, the vice president of monetization product, who currently reports to Hegeman, a spokesperson told the Information. Bloomberg first reported the news. Clara Shih, who joined Meta last November from Salesforce and reported to Hegeman, is also leaving. Shih led a new division of Meta to sell their AI to businesses, though the remit was always a bit unclear. Naomi Gleit will lead the business AI group and also oversee Meta’s subscription service Meta Verified and Business AI messaging. Gleit was previously head of product reporting directly to chief operating officer Javier Olivan, as Hegeman did. Meta first promoted Hegeman to lead the ads and business product organizations in 2022, having previously worked on Meta’s response to Apple’s privacy restrictions, as reported. Meta expanded his remit in 2023, the Information reported.
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