When Facebook became a public company in the summer of 2012, its initial public offering (IPO) didn't go quite as well as the company expected. It went poorly enough that the US Securities and Exchange Commission took action against the exchange which handled Facebook's IPO: Nasdaq. A civil suit filed against the exchange, alleging computer software errors that resulted in a lackluster IPO, was settled today -- the exchange will pay $10 million to settle the suit. The settlement, of course, doesn't mean that Nasdaq is confirming or denying the alleged issues its computer system incurred last year; said issues allegedly cost investors in the ballpark of $500 million. Probably best to un-friend Nasdaq now before things get awkward.

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Filed under: Internet, Facebook

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Source: Reuters

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Facebook's two-year-old Open Compute Project is fast becoming a potential cure-all for servers, with efforts underway that tackle efficiency, storage and monolithic design. Its next target: the frequently closed-source, small-scale world of network switches. The OCP team wants networking devices as open and scalable as the servers underneath them, and it's teaming up with heavy hitters such as Broadcom, Intel and VMware to make that happen. Unlike past initatives, though, there isn't an obvious template to work from. When development starts at the OCP Engineering Summit on May 16th, the alliance will be starting from scratch -- which suggests that we'll be waiting a long time to see what truly flexible switches can do.

Filed under: Networking, Intel, Facebook

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Via: ZDNet

Source: Open Compute Project

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