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The original was posted on /r/wallstreetbets by /u/s1n0d3utscht3k on 2024-09-29 20:49:57+00:00.

relevant market moving cuz:

Tech leaders and VCs said regulation could stifle innovation

other excerpts:

California Governor Gavin Newsom has vetoeda contentious artificial intelligence safety bill that would have required companies to make sure their AI models don’t cause major harm.

The bill, called SB 1047, was poised to be one of the most consequential pieces of AI regulation in the US, given California’s central position in the tech ecosystem and the lack of federal legislation for artificial intelligence.

In recent weeks, the bill had divided the AI industry and drawn significant criticism from some tech leaders and prominent Democrats.