Zaid Admani

It's about the precedent that's being set.

There are thousands of similar lawsuits filed against social media companies by teenagers, school districts, and state attorney generals across the country.

So even though the fines in this case are relatively small, this could open the floodgates for more cases.

And it could also open the gate for regulation against social media companies.

Now, as Meta is dealing with the legal stuff, they're also continuing to cut back on their staff.

According to a report from the information, the company cut a few hundred jobs on Wednesday, mostly targeting the Reality Labs division.

This is the division that includes all the Metaverse stuff, and the company seems to be cutting back heavily on that to pay for all their AI stuff.

So yeah, a lot going on with Meta right now.

Their stock is down around 3% today following the court rulings and down about 10% for the year.

I think we're going to have to cover Meta in our deep dive this week.

So stay tuned for that.

Let's shift gears and talk about memory stocks because they are getting hit hard right now thanks to some research coming out of Google.

Google published some research this week on a new compression technique called TurboQuant, which could reduce the amount of memory required for AI.

In simple terms, when AI models run, they store past calculations in what's called a key value cache.

That way, these models don't have to redo the same work.

And it's a big reason why memory has been in huge demand over the past year or so.

But this turbo quant algorithm compresses that cache and Google says that it can reduce the amount of memory needed to run large language models by up to six times.

So that caught the attention of the market.

People are already calling this the deep seek moment for memory.

Stocks of SK Hynix and Samsung fell five to 6% in South Korea.