California's local journalism faces challenges; thus, the agreement with Google aims to secure funding for newsrooms and promote AI innovation without imposing new taxes.
Governor Gavin Newsom stated, 'This agreement represents a major breakthrough in ensuring the survival of newsrooms and bolstering local journalism across California, leveraging substantial tech resources without new taxes.'
The creation of a 'News Transformation Fund' will see $250 million in public and private funding dedicated to journalism, with $30 million from the state in the first year.
Google's $62.5 million for an AI Innovation Accelerator aims to empower various sectors, including journalism, to explore AI's potential in enhancing their work.
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