TikTok Secretly Stores Creators’ Information in China; Streaming Services see Dip Amongst UK Households

by Hannah Dillon on 31st May 2023 in News

In today's ExchangeWire news digest: TikTok has been revealed to secretly store users' financial information in China; streaming giants see a drop in UK users; and Nvidia surpasses a USD$1tn (~£809.5bn) valuation.

TikTok creators’ financial information stored in China

The financial information of thousands of creators and businesses on TikTok has been stored on servers in China, Forbes has revealed. The revelation contradicts Shou Zi’s testimony to the US Congress in March, in which the TikTok CEO claimed “American data has always been stored in Virginia and Singapore in the past, and access of this is on an as-required basis by our engineers globally”.

Streaming giants see UK viewership drop

Streaming heavy hitters Netflix, Disney+, and Amazon Prime Video have all suffered small dips in the number of UK homes accessing their services. New data from Barb Audiences has revealed that 67.4% of UK households had access to at least one SVOD service in Q1 2023, a 1.7% decrease from the previous quarter. According to the Establishment Survey, Netflix’s UK viewership decreased by 1.1%, while Amazon Prime Video and Disney+ suffered losses of 1.7% and 1.9% respectively.

Nvidia surpasses USD$1tn (~£809.5bn) valuation

American tech giant Nvidia has become the world’s first USD$1tn (~£809.5bn) chipmaker, thanks to booming demand from companies hoping to integrate artificial intelligence tools into their products. The company’s new valuation follows recent announcements concerning Nvidia’s AI offerings, which included a new supercomputer built around its latest GH200 Grace Hopper Superchip.