CANNES: The Cannes Film Festival has signed a multi-year sponsorship deal with social network giant and major AI investor Meta, the company announced Monday, despite fears about the impact of its new video tools on the cinema industry.&nbsp;Meta said in a statement that it was &quot;proud to be an official partner of the Festival de Cannes in a new multi-year strategic partnership&quot;, replacing social video platform TikTok.&nbsp;The group is set to organize a series of promotional events for its video-enabled Ray-Ban Meta glasses, which are becoming increasingly popular among influencers but have sparked privacy fears.&nbsp;It will also showcase its new artificial intelligence-powered video generative technology, which has been embraced by Oscar-winning &quot;Traffic&quot; director Steven Soderbergh for his latest film.&nbsp;Soderbergh partnered with Meta for a documentary about the last interview given by Beatles songwriter John Lennon before his death, which will premiere at the Cannes Festival.&nbsp;The film features AI-generated footage of Lennon and his wife Yoko Ono -- a major talking point in an industry which mostly views the technology as a threat to jobs, as well as a danger for copyright and original storytelling.&nbsp;Soderbergh told Deadline magazine last week that AI-generated video comprises about 10 percent of the film and was used for &quot;sequences that have images that are impossible to shoot&quot;.&nbsp;The use of AI was central to the 2023 strikes that shut down Hollywood, as actors and writers warned that unchecked technology threatened their livelihoods.&nbsp;Thousands of French actors and filmmakers warned in an open letter in February that AI tools were &quot;plundering&quot; talent across the industry, comparing them to a &quot;devouring hydra&quot;.&nbsp;The Cannes Festival kicks off on Tuesday and runs until May 23.

Artificial Intelligence

Cannes Film Festival signs a multi-year sponsorship deal with Meta, replacing TikTok. The partnership showcases AI video tools and Ray-Ban Meta glasses amid concerns over AI’s impact on jobs, copyright and original storytelling in the film industry.

Cannes Festival signs up Meta as sponsor amid AI fears

NEW YORK: <a href="https://www.pakistantv.com/article/wall-street-intends-to-stay-open-around-the-clock" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Wall Street</a> stocks were mostly lower early Tuesday on worries about the artificial intelligence (AI) profitability outlook and as oil prices ticked higher. Analysts cited a Wall Street Journal report that pointed to doubts within OpenAI about the company&#39;s revenue outlook and its capacity to build costly new data centers after it missed its own targets. OpenAI is not publicly traded, but&nbsp;<a href="https://www.pakistantv.com/article/nvidia-chief-expects-revenue-of-1-trillion-through-2027" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Nvidia</a>&nbsp;and Oracle were among the AI-related stocks to fall sharply. About 10 minutes into trading, the tech-rich Nasdaq Composite Index was down 0.9% at 24,670.37. The broad-based S&amp;P 500 fell 0.4% to 7,143.08, while the Dow Jones Industrial Average added 0.3% at 49,323.38. &quot;This isn&#39;t the first time we&#39;ve had significant questions about the viability of some of the large language model developers,&quot; said B Riley Wealth Management&#39;s Art Hogan, who also pointed to the drag from higher crude prices. Futures of US benchmark West Texas Intermediate and international contract Brent were both up more than 3%, with no visible progress on reopening the <a href="https://www.pakistantv.com/article/us-israel-war-on-iran-day-60" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Strait of Hormuz</a>.

A folder of AI applications containing DeepSeek, ChatGPT, Gemini, Claude, Meta AI, and Copilot is displayed on a smartphone screen in Creteil, France, on April 24, 2026 (AFP)

US stocks mostly fell early Tuesday as AI profitability concerns hit tech shares, with Nvidia and Oracle dropping, while higher oil prices weighed on sentiment; Nasdaq and S&P declined, Dow edged up.

Articles tagged with "AI fears"

Cannes Festival signs up Meta as sponsor amid AI fears

US stocks mostly fall as AI worries weigh on tech shares