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Techmeme
July 31, 2024, 10:20 PM
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Meta:
Meta Q2: revenue up 22% YoY to $39.07B, net income up 73% to $13.47B, family daily active people up 7% to 3.27B on average for June; META jumps 5%+ after hours  —  Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended June 30, 2024.
Jonathan Vanian / CNBC:
Meta's Reality Labs posts Q2 revenue up 28% YoY of $353M, vs. $371M est., and operating loss of $4.48B, vs. $4.55B est.; Reality Labs has lost ~$50B since 2020
Alex Heath / The Verge:
On Meta's earnings call, Mark Zuckerberg said Llama 4 will likely need ~10x more compute than Llama 3.1 to train, Quest 3 sales exceeded expectations, and more
Wesley Yin-Poole / IGN:
Bungie says it will lay off 220 employees, or 17% of its workforce, and integrate an additional 155 roles into its parent company Sony Interactive Entertainment  —  “Today is a difficult and painful day.”  —  Destiny developer Bungie has today announced significant cuts at the studio …
CNBC:
Delta Air Lines CEO Ed Bastian says the CrowdStrike-caused outage will cost the company $500M, after canceling 6,000+ flights, and Delta will seek damages  —  WATCH NOW  —  Delta Air Lines CEO Ed Bastian said Wednesday that the massive IT outage earlier this month that stranded thousands of customers will cost it $500 million.
New York Times:
Reid Hoffman, Vinod Khosla, Mark Cuban, Ron Conway, Chris Sacca, and 100+ other VCs pledge to vote for Kamala Harris and solicit donations for her campaign  —  The group, including Democratic donors such as Reid Hoffman and Vinod Khosla, has been organized under an effort called VCsForKamala.
Sergiu Gatlan / BleepingComputer:
Microsoft says that a nine-hour outage on July 30, which disrupted multiple Microsoft 365 and Azure services worldwide, was triggered by a DDoS attack  —  Microsoft confirmed today that a nine-hour outage on Tuesday that took down and disrupted multiple Microsoft 365 and Azure services worldwide …
Alex Heath / The Verge:
Reddit CEO says Microsoft, Anthropic, and Perplexity need to pay to scrape the site's data, and it has been “a real pain in the ass to block these companies”  —  After striking deals with Google and OpenAI, Reddit CEO Steve Huffman is calling on Microsoft and others to pay if they want to continue scraping the site's data.
Jonathan Kemper / The Decoder:
Google unveils updates to its Gemma family of open models, including Gemma 2 2B, which it claims surpasses GPT-3.5 and Mixtral 8x7B on the LMSYS Chatbot Arena  —  Google has unveiled updates to its Gemma 2 family of open-source language models, focusing on improved performance, safety, and transparency.
Sean Lyngaas / CNN:
A ransomware attack hits blood donation nonprofit OneBlood, which has asked over 250 hospitals in the US to activate their critical blood shortage protocols  —  A cyberattack has hit a blood-donation nonprofit that serves hundreds of hospitals in the southeastern US.
Jess Weatherbed / The Verge:
Google rolls out online safety features to make removing explicit deepfakes from Search at scale easier and to prevent them from appearing high up in results  —  Google is rolling out new online safety features that make it easier to remove explicit deepfakes from Search at scale and prevent …
Aaron Holmes / The Information:
Source: TikTok was paying Microsoft ~$20M/mo. to use OpenAI's models in Azure OpenAI Service as of March, ~25% of the total revenue that service was generating  —  Microsoft has had success reselling OpenAI's artificial intelligence to its cloud customers, a core part of its plan to build a new multibillion-dollar profit machine.
Krisztian Sandor / CoinDesk:
Tether reports “record” net profit of $5.2B in H1 2024, net operating profit of $1.3B in Q2, and US debt holdings of $97.6B, more than countries like Germany  —  The company said its $97 billion exposure to U.S. Treasuries would put it 18th in the ranking among countries.
Anna Washenko / Engadget:
US senators unveil the bipartisan NO FAKES Act, which would make individuals and companies liable for producing, hosting, or sharing unauthorized AI deepfakes  —  OpenAI joined several entertainment industry groups in backing the NO FAKES Act.  —  Today, a group of senators introduced the NO FAKES Act …
Akash Sriram / Reuters:
eBay reports Q2 revenue up 1% YoY to $2.57B, vs. $2.53B est., GMV up 1% to $18.4B, net income up 31% to $226M, and forecasts Q3 revenue below estimates  —  EBay (EBAY.O) forecast third-quarter revenue below Wall Street estimates on Wednesday, a sign that demand is slowing down for collectible items, luxury handbags and watches.
More: eBay Inc. and Bloomberg
CNBC:
Nvidia shares closed up 12.81% after Microsoft and AMD signaled no slowdown in the buildout of AI servers built around GPUs; Microsoft spent $19B on capex in Q4  —  Nvidia shares popped 13% Wednesday after remarks from top customer Microsoft and rival chipmaker AMD signaled there wouldn't be a slowdown …
Mackenzie Hawkins / Bloomberg:
Sources: Commerce Department officials inform Applied Materials that the company's planned $4B Silicon Valley R&D facility doesn't qualify for CHIPS Act grants  —  - Company had hoped to use the money for research center  — US officials have disagreed over how to approach chip R&D

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This is a Techmeme archive page. It shows how the site appeared at 10:20 PM ET, July 31, 2024.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Jessica Toonkel / Wall Street Journal:
A look at Comcast co-CEO Brian Roberts' earlier bundling strategy for connectivity and content, and his plan now to unbundle in order to keep growing

Charlotte Tobitt / Press Gazette:
A photographer sues The Daily Mail in New York over “systematic” lifting of thousands of images from social media without permission from copyright holders

Janko Roettgers / The Verge:
A look back at BitTorrent, launched by Bram Cohen 25 years ago, and how media piracy fueled its growth while its architecture shielded it from legal liability

More News

Billy Steele / Engadget:
Spotify plans to expand the availability of lyrics for Spotify Free users in the “coming weeks”; paid subscribers could access unlimited lyrics since May 2024

Earlier Picks

Emma Roth / The Verge:
District of Columbia AG Brian Schwalb sues StubHub, alleging the company uses a “bait-and-switch” technique where it advertises “deceptively low” ticket prices
Salvador Rodriguez / Wall Street Journal:
An investigation found 450+ illicit drug ads on Facebook and Instagram from March to June 2024, including some still running as recently as July 26
Chris Miller / Financial Times:
How US safeguards on the Microsoft-G42 deal, aiming to protect critical data center and AI infrastructure, could shape future international data center projects
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