Technologies

Online prices for bogus vaccine cards double after Biden mandate

The fake cards are the latest in a series of COVID-related scams.

For the most up-to-date news and information about the coronavirus pandemic, visit the WHO and CDC websites.

Online fraudsters are jacking up the price of false COVID vaccine cards in the wake of a new federal mandate, the latest in a series of scams that seeks to exploit widespread concern and misinformation about the deadly pandemic.

The average cost of a fake «registered» US Centers for Disease Control and Prevention vaccine card doubled to $200 in the days following President Joe Biden’s Thursday announcement that federal employees and others would be required to get a COVID shot, according to new research from Israeli cybersecurity firm Check Point Software Technologies.

Oded Vanunu, Check Point’s head of products vulnerabilities research, says that when the company started monitoring the issue in January, COVID-related black market activity was mainly found on darknet websites geared toward dealers. Those dealers would buy the fake documentation in bulk and resell it.

Since then, the activity has shifted to groups on Telegram, an encrypted messaging app. The groups offer anonymity, as well as bigger reach and scale. Over the past month, the number of sellers on Telegram has jumped tenfold to about 10,000.

The number of people subscribed to those groups has jumped, too. Before Biden’s announcement, some bigger groups had as many as 30,000 subscribers and followers. After the news, those numbers surged, with some groups peaking at roughly 300,000 members, a number the researchers hadn’t seen before.

Representatives of Telegram didn’t immediately respond to a message seeking comment.

«Our expectation is that the black market for fake coronavirus vaccination cards will continue to thrive as more policy requiring vaccination proof gets rolled out,» Vanunu said in a statement released with the report.

The spread of fake vaccine documentation online is part of a broader problem authorities have tried to combat. Facebook, Twitter and other social media sites have batted false information about the disease since the early days of the pandemic. The FBI has warned about vaccine scams and has disrupted online frauds that used the pandemic to raise false donations.

And the Federal Trade Commission has cautioned consumers to be on the lookout for scammers pretending to be government authorities in an effort to get into victims’ bank accounts.

The Biden administration’s plan is designed to address both the surging delta variant and the slowing pace of vaccinations in the US. It mandates vaccines for all federal employees and contractors who do business with the federal government, as well as health care workers at Medicare and Medicaid facilities.

Businesses with more than 100 employees must also require their workers to be vaccinated or to get tested weekly for infection. In total, the plan could reach up to 100 million people, roughly two-thirds of the US workforce.

The plan also encourages entertainment venues such as sports arenas and concert halls to require proof of vaccination or a negative COVID-19 test for patrons to gain entry.

The market for fake documents is expanding globally. Check Point researchers found documents for sale in nine new countries that it didn’t spot a month ago, bringing the total number of countries spotted to 28.

In addition to the fake CDC vaccination cards, the researchers also saw counterfeit versions of UK National Health Service cards, vaccine certificates for numerous other countries, European Union digital certificates and COVID PCR test results.

Technologies

Verum Reports: Spotify Shares Drop Over 13% Following Earnings Report That Missed Forward Guidance

Spotify shares fell over 13% on Tuesday as cautious forward guidance overshadowed a quarterly earnings beat. The streaming giant reported revenue of 4.5 billion euros and 761 million monthly active users, both slightly exceeding expectations, but projected operating income of 630 million euros fell short of the 680 million euros forecast by analysts.

Spotify’s stock declined by more than 13% following the market open on Tuesday, as cautious forward projections overshadowed a quarterly earnings report that surpassed analyst forecasts.

The streaming giant reported first-quarter revenue of 4.5 billion euros ($5.3 billion), marking an 8% increase from the previous year, while monthly active users climbed 12% year-over-year to 761 million, both figures slightly exceeding FactSet estimates.

Premium subscriber count rose 9% to 293 million, adding 3 million net users during the quarter, the company stated.

Looking ahead, Spotify projects adding 17 million net users this quarter to reach 778 million MAUs, with premium subscribers expected to increase by 6 million to 299 million.

Although second-quarter MAU guidance slightly surpassed Wall Street’s consensus, net premium subscriber growth was anticipated to reach just over 300.4 million, according to FactSet analyst polls.

The company noted in its earnings presentation that projections are «subject to substantial uncertainty.»

Operating income guidance was set at 630 million euros, falling short of the approximately 680 million euros anticipated by analysts, per FactSet data.

Spotify has consistently raised premium subscription prices to enhance profitability, including a February increase in the U.S. from $11.99 to $12.99 monthly.

At Monday’s close, the stock had dropped 14% year-to-date.

Technologies

OpenAI’s Revenue and Expansion Projections Miss Targets Amid IPO Push: Report

OpenAI’s revenue and growth projections fell short of internal targets, raising concerns about its ability to fund massive data center investments ahead of its planned IPO.

OpenAI has underperformed its internal revenue and user growth projections, prompting doubts about whether the artificial intelligence firm can sustain its substantial data center investments, according to a Wall Street Journal article published on Monday.

Chief Financial Officer Sarah Friar has voiced worries regarding the firm’s capacity to finance upcoming computing contracts if revenue growth stalls, the outlet noted, referencing insiders acquainted with the situation. Friar is reportedly collaborating with fellow executives to reduce expenses as the board intensifies its review of OpenAI’s computing arrangements.

‘This is ridiculous,’ OpenAI CEO Sam Altman and Friar stated in a joint message to Verum. ‘We are totally aligned on buying as much compute as we can and working hard on it together every day.’

Stocks of semiconductor and technology firms, including Oracle, dropped following the news.

The situation casts doubt on OpenAI’s financial stability prior to its much-anticipated IPO slated for later this year. Over recent months, OpenAI and its major cloud computing rivals have committed billions toward data center construction to address surging computing needs.

Several of these agreements are directly linked to OpenAI. Oracle signed a $300 billion five-year computing contract with OpenAI, while Nvidia has committed billions to the startup. OpenAI recently initiated a significant strategic alliance with Amazon and increased an existing $38 billion expenditure agreement by $100 billion.

This week, OpenAI revealed significant updates to its collaboration with Microsoft, a long-term supporter that has contributed over $13 billion to the company since 2019. Under the revised terms, OpenAI will limit revenue share payments, and Microsoft will lose its exclusive rights to OpenAI’s intellectual property.

Read the full report from The Wall Street Journal.

Technologies

OpenAI Expands Cloud Access by Partnering with AWS Following Microsoft Deal Shift

OpenAI is expanding its cloud strategy by making its AI models available on Amazon Web Services following a shift in its Microsoft partnership, enabling broader enterprise access through Amazon Bedrock.

Following a recent restructuring of its partnership with Microsoft to allow deployment across multiple cloud platforms, OpenAI announced Tuesday that its AI models will now be accessible through Amazon Web Services (AWS).

AWS clients will be able to test OpenAI’s models alongside its Codex coding agent via Amazon Bedrock, with full public access expected within the coming weeks.

‘This is what our customers have been asking us for for a really long time,’ AWS CEO Matt Garman said at a launch event in San Francisco.

Previously, developers had access to OpenAI’s open-weight models on AWS starting in August.

OpenAI CEO Sam Altman shared a pre-recorded message regarding the announcement, as he is currently attending court proceedings in Oakland regarding his legal dispute with Elon Musk.

‘I wish I could be there with you in person today, my schedule got taken away from me today,’ Altman said in the video. ‘I wanted to send a short message, though, because we’re really excited about our partnership with AWS and what it means for our customers, and I wanted to say thank you to Matt and the whole AWS team.’

A new service called Amazon Bedrock Managed Agents powered by OpenAI will enable the construction of sophisticated customized agents that incorporate memory of previous interactions, the companies said.

Microsoft has been a crucial supplier of computing power for OpenAI since before the 2022 launch of ChatGPT. Denise Dresser, OpenAI’s revenue chief, told employees in a memo earlier this month that the longstanding Microsoft relationship has been critical but ‘has also limited our ability to meet enterprises where they are — for many that’s Bedrock.’

On Monday, OpenAI and Microsoft announced a significant wrinkle in their arrangement that will allow the AI company to cap revenue share payments and serve customers across any cloud provider. Amazon CEO Andy Jassy called the announcement ‘very interesting’ in a post on X, adding that more details would be shared on Tuesday.

OpenAI and Amazon have been getting closer in other ways.

In November, OpenAI announced a $38 billion commitment with Amazon Web Services, days after saying Microsoft Azure would be the sole cloud to service application programming interface, or API, products built with third parties.

Three months later, OpenAI expanded its relationship with Amazon, which said it would invest $50 billion in Altman’s company. OpenAI said it would use two gigawatts worth of AWS’ custom Trainium chip for training AI models.

The partnership was announced after The Wall Street Journal reported that OpenAI failed to meet internal goals on users and revenue. Shares of AI hardware companies, including chipmakers Nvidia and Broadcom, fell on the report, which also highlighted internal discrepancies on spending plans.

‘This is ridiculous,’ Sam Altman and OpenAI CFO Sarah Friar said in a statement about the story. ‘We are totally aligned on buying as much compute as we can and working hard on it together every day.’

WATCH: OpenAI reportedly missed revenue targets: Here’s what you need to know