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April 25, 2024, 5:15 AM
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Meta Investor Relations:
Meta reports Q1 revenue up 27% YoY to $36.46B, net income up 117% YoY to $12.37B, and family daily active people up 7% YoY to 3.24B for March 2024  —  Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended March 31, 2024.
Alex Heath / The Verge:
Mark Zuckerberg says Meta AI assistant has been “tried” by “tens of millions of people” and making money from generative AI will take Meta several years  —  The generative AI gold rush is underway — just don't expect it to create profits anytime soon.
Ashley Capoot / CNBC:
Meta's stock dropped 15%+ after hours on weak Q2 revenue guidance and higher FY 2024 capital expenditures due to increased AI infrastructure investments
Alex Koller / CNBC:
Meta's Reality Labs Q1: revenue up 30% YoY to $440M, vs. $512.5M est., a $3.85B operating loss, vs. $4.31B est.; Reality Labs lost $45B+ since the end of 2020
Lauren Feiner / The Verge:
President Biden signs the ByteDance-TikTok divest-or-ban bill into law, after the Senate passed it by 79-18; the House passed the legislation 360-58 on April 20  —  The divest-or-ban bill is now law, starting the clock for ByteDance to make its move.  The company has an initial nine months …
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See also Mediagazer
New York Times:
How a tiny group of US lawmakers and aides wrote the TikTok divestment bill, hiding their efforts to avoid TikTok's lobbying, alongside the DOJ and White House
Alex Barinka / Bloomberg:
Biden signing the TikTok divestment bill starts a 270-day countdown for a sale or a US prohibition; sources say ByteDance sees a divestiture as a last resort
Monica Alba / NBC News:
Biden's re-election campaign plans to continue using TikTok for at least the next year, with “enhanced security measures”, to help “meet voters where they are”
Andy Greenberg / Wired:
Cisco details a hacking campaign that penetrated multiple governments' networks using two zero-day flaws in its VPN and firewall Adaptive Security Appliances  —  Sources suspect China is behind the targeted exploitation of two zero-day vulnerabilities in Cisco's security appliances.
Ben Glickman / Wall Street Journal:
IBM agrees to buy HashiCorp, which helps companies manage cloud infrastructure, in a deal valuing HashiCorp at $6.4B and expected to close by the end of 2024  —  IBM will pay $35 a share for the cloud-software company in cash, giving it access to HashiCorp's roster of some 4,400 clients
Bob Van Voris / Bloomberg:
US prosecutors charge two founders of Samourai Wallet, saying the crypto mixing service facilitated more than $100M in money laundering transactions  —  - US prosecutors say Samourai Wallet was ‘haven for criminals’  — Europol has said crypto mixing services are a ‘top threat’
David Pierce / The Verge:
Hands-on with the Rabbit R1: a fun and funky AI device that feels pretty nice and does a solid job with basic AI questions, but the Rabbithole app is unfinished  —  There were times I wasn't sure the Rabbit R1 was even a real thing.  The AI-powered, Teenage Engineering-designed device came …
Shubham Sharma / VentureBeat:
Snowflake announces Arctic, an LLM optimized for enterprise tasks such as SQL generation, coding, and instruction following, with an Apache 2.0 license  —  Today, Snowflake announced the launch of Arctic, a large language model (LLM) optimized for complex enterprise workloads such as SQL generation …
Shubham Sharma / VentureBeat:
Apple researchers share OpenELM, a family of LLMs with 270M to 3B parameters, designed to run on-device, and pre-trained and fine-tuned on public datasets  —  Just as Google, Samsung and Microsoft continue to push their efforts with generative AI on PCs and mobile devices …
Joanna Nelius / The Verge:
Qualcomm details its Snapdragon X Plus and X Elite chips; benchmarks from a demo suggest the chips match Apple's M3, Intel's Core Ultra 9, and AMD's Ryzen 9  —  On Wednesday, Qualcomm announced the impending arrival of its Snapdragon X Plus laptop processor alongside more information …

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From Mediagazer

Axios:
Sources: Paramount seeks a business-side counterpart to Bari Weiss, implying she would oversee editorial across CBS News and CNN if Paramount's WBD deal closes

Peter Chapman / Bloomberg:
The UK CMA launches a probe into Paramount's $110B acquisition of WBD, and sets an initial ruling deadline on August 7; the EU has already set a July 7 deadline

Scott Nover / Washington Post:
Email: the WH press corps won't be allowed on White House grounds Sunday due to the UFC fight; only press poolers will be allowed unless UFC gives credentials

More News

Earlier Picks

Foo Yun Chee / Reuters:
TikTok suspends the rewards program in TikTok Lite while the company tries to resolve EU concerns over the potentially addictive nature of Lite for children
Ingrid Lunden / TechCrunch:
Stripe says some of its products will be available to companies that are using other payments providers, and unveils new embedded finance features and AI tools
Brian McGleenon / The Block:
Worldcoin subsidiary World Assets plans to sell WLD tokens to meet the demand for orb-verified World IDs and support Worldcoin network growth; WLD drops 7%+
Aisha Malik / TechCrunch:
WhatsApp rolls out passkey support on iOS, removing the need for users to deal with SMS one-time passcodes, six months after introducing the feature on Android
Meir Orbach / CTech:
Nvidia acquires AI infrastructure orchestration and management service Run:ai, a source says for ~$700M; Run:ai, founded in 2018, had raised $118M to date
Wall Street Journal:
The US FTC bans noncompete clauses that restrict job switching, the first time in 50+ years that the FTC has issued a regulation mandating an economywide change
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