Madeline Mekelberg

Now, that's according to sources.

The company behind the Kimmy chatbot has reportedly held talks with China International Capital and Goldman Sachs, though deliberations are still ongoing.

And in Europe, where regulators are stepping up scrutiny of online platforms.

Now, the EU has launched an investigation into Snapchat, focusing on how it verifies its users' ages and addresses risks like grooming, criminal activity.

At the same time, it's advancing a separate probe at the moment into pornography platforms and sober concerns it failed to adequately block minors from accessing its sites.

Ed.

Welcome back to Bloomberg Tech.

Let's check in on a specific set of movers right now because I want to draw attention to memory makers and the chip sector more broadly.

We are down by 7% if you looked at Asian trading of SK Hynix.

So Samsung, it was off by 6% as well.

If you're looking at Micron here in the United States, it's off by 4%.

We are going even lower.

This is all sparked by, well, a new algorithm.

Coming from Alphabet, Google really talking up on X, something actually they discovered a year ago, Ed.

But this is about the fact that you perhaps need less memory when running large language models to a factor of six-fold less.

But if I hear Jevons Paradox talked one more time by an analyst, I need to start getting some money for each time I read it, Ed, because there is this view that if you can do more with less, well, you keep doing more.

And now, though, we're still sort of having that knee-jerk reaction more broadly because these stocks have run up so far so fast.

Look, some of the names in Asia are up 700%.

Micron was up about, what, 300% in the previous fiscal year in terms of share prices.

Maybe it's a bit of profit just coming off the table as we do assess what our memory needs are and what the bottlenecks really are.