The chief executive of News Corporation says the media, property and publishing giant is on track for record profits this financial year after carving off Foxtel and signing artificial intelligence deals with OpenAI and Bloomberg.
Robert Thomson told the Morgan Stanley Conference in San Francisco on Monday (Tuesday morning AEDT) that the opportunities for News Corp were more significant than the risks posed by the inexorable rise of AI that has wiped billions off the market capitalisation of global tech companies. News Corp, which is controlled by the Murdoch family, has become a necessary “input” company for AI, Thomson said.
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