TNB Tech Minute: Microsoft-OpenAI Partnership Gets U.K. Antitrust Clearance
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Get 24-7 professional answers and live help and access support by phone, email, and in-platform chat. That's how Schwab is here for you to help you trade brilliantly. Learn more at schwab.com slash trading. Here's your TNB Tech Minute for Wednesday, March 5th. I'm Charlotte Gartenberg for The Wall Street Journal.

In a victory for Microsoft, UK antitrust officials say they will not launch a formal investigation into the tech giant's ties with chat GPT maker OpenAI. The Competition and Markets Authority launched a review in December 2023 to determine whether Microsoft's investment in the artificial intelligence startup should be considered a de facto merger that might stifle competition. Officials have now concluded this isn't the case. This gives the Microsoft-OpenAI partnership

antitrust clearance in the UK as OpenAI prepares to become a for-profit corporation. Microsoft has invested more than $13 billion in OpenAI since 2019.

South Korea's steel, cars, and electronics industries are among those that will be impacted by higher U.S. tariffs. That's according to a Moody's Analytics associate economist, Danny Kim. The U.S. is set to impose separate 25 percent tariffs on steel and aluminum imports later this month. South Korea is the fourth largest steel exporter to the U.S. Kim also noted that tit-for-tat tariff increases between the U.S. and its trading partners will weaken global demand.

And Beijing is ramping up its efforts for tech independence as AI has become the latest technology battleground between the U.S. and China. In a speech to the country's lawmakers today, the Chinese premier said AI would be key to boosting China's digital economy. He pledged that China would boost support for applications of large-scale AI models and AI hardware such as smartphones, robots, and smart cars.

China's top economic planning body also said that the country aimed to develop a system of open source models while continuing to invest in computing power and data for AI. For a deeper dive into what's happening in tech, check out tomorrow's Tech News Briefing podcast. Think about a bicycle.

It takes balance to get where you want to go. Now think about business. Whatever your business or organization, you ride the line between numbers and people. Just like the bike, it takes balance. CLA, CPAs, consultants, and wealth advisors. We'll get you there. CLA, Clifton, Larson, Allen, LLP is an independent network member of CLA Global. Investing involves risk, including risk of loss. Investment advisory services are offered through Clifton, Larson, Allen, Wealth Advisors, LLC, and SEC Registered Investment Advisor.