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Welcome to Vinson & Elkins’ Securities and ESG Updates.
Technology has long played a part in professional sports, but these days it permeates the industry.
With the advancements in artificial intelligence (AI), data centre demand is growing exponentially, increasing the pressure on technology giants and the construction industry to design, procure and construct new data centres more innovatively, quickly and sustainably around the globe.
Identifying existing IP early in the innovation process helps companies evaluate project viability and provides greater leverage to negotiate possible licenses, agreements and business collaborations.
On July 30, 2024, Meta Platforms, Inc. (formerly known as Facebook, Inc.) agreed to pay $1.4 billion to the State of Texas to settle a lawsuit alleging that Meta unlawfully captured and used biometric identifiers of millions of Texans without their consent.
Many companies are considering or currently engaging in acquisitions or investments in startups and established providers of artificial intelligence (“AI”) technology.
On June 11, 2024, the United States Securities and Exchange Commission (the “SEC”) charged Illit Raz, the former CEO and founder of the since-shut-down artificial intelligence recruiting startup Joonko Diversity Inc. (“Joonko”), with defrauding investors by making false and misleading statements about a number of items — including the sophistication of the company’s technology.
Since generative AI burst into the mainstream, companies have raced to capitalize on its extraordinary promise. But as with any technological frontier, this promise does not come without risks, and companies can expect to encounter them with greater frequency as AI’s role in the economy continues to grow.
Energy Regulation Partner Jeffrey Jakubiak provides his thoughts on the growing need for electric infrastructure to support the growing need for the supply of power to the growing server farms serving AI and related resources.