Robo DJ: YouTube invests in AI-generated music
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 4 July 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
SoftBank is looking to invest in AI despite pressure to offer a share buyback, Shell is pausing construction on one of its biggest energy transition projects, and the Labour party is expected to win the UK election by a landslide. Plus, the FT’s Anna Nicolaou explains how YouTube is trying to negotiate a deal with record labels over music created by AI.
Mentioned in this podcast:
SoftBank to prioritise AI deals over share buybacks despite pressure from Elliott
Shell pauses construction at one of Europe’s biggest biofuels plants
YouTube in talks with record labels over AI music deal
Labour set for landslide win in UK general election
Joe Biden set for talks with senior Democrats as crisis deepens
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | Good morning from the Financial Times. Today is Thursday, July 4th, and this is your |
| 0:17.6 | FT news briefing. Softbank is ditching share buybacks for now and Shell pulls the plug on one of its largest clean energy projects. |
| 0:29.0 | Plus YouTube wants to cash in on music created by artificial intelligence. |
| 0:35.0 | We're not sure if record companies are going to allow it, though. |
| 0:38.0 | I'm Mark Filipino, and here's the news you need to start your day. Soft Bank is shaking off pressure from activist investor Elliot management. |
| 1:01.0 | Elliot has a position in Soft Bank worth more than 2 billion dollars and is pushing |
| 1:06.0 | Soft Bank to green light a share buyback. |
| 1:08.6 | Elliot thinks that it would shrink the gap between the value of Soft Bank's portfolio and its market value. the artificial intelligence instead. The tech group's balance sheet has improved recently and |
| 1:24.5 | Yoshimitsu Goto said hunting for AI deals was a better use of it. Goto did not rule out |
| 1:30.5 | buybacks down the line though. |
| 1:34.0 | Shell said this week it's pausing work on a huge biofuels plant in the Netherlands indefinitely. |
| 1:45.3 | It was supposed to be one of the biggest energy transition projects in the world, and so the |
| 1:50.3 | stalled project is a setback for the biofuels market. |
| 1:54.0 | Malcolm Moore is the F.T's energy editor and he joins me now. |
| 1:57.0 | Hi Malcolm. |
| 1:58.0 | Hi, Malcolm. |
| 1:59.0 | All right, Malcolm. |
| 2:00.0 | So just tell me a little bit more about this project. |
| 2:01.8 | What was it supposed to be? |
| 2:03.6 | Okay, so the project was unveiled in 2021. |
... |
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