Techmeme: Foxconn reports Q3 revenue up 20% YoY to a record ~$57.01B, a ~$1.5B net income, vs. ~$1.41B est., and expects half of its server orders in 2025 to be for AI (Bloomberg)

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November 14, 2024, 7:40 AM

Top News

Bloomberg:

Polymarket says the FBI seized CEO Shayne Coplan's phone and electronics; source: the DOJ is investigating Polymarket for allegedly accepting bets from US users — - Polymarket says FBI agents seized CEO's phone, electronics — Platform has taken recent measures to weed out US traders

More: The Guardian, Axios, The Independent, DL News, New York Times, Wall Street Journal, The Block, Reuters, CCN.com, Techreport, Protos, CryptoSlate, Barron's Online, Bitcoinist.com, Cryptopolitan, New York Post, Coinspeaker, Watcher Guru, Al Jazeera, The Crypto Times, CoinGape, Nairametrics, Blockhead, Reclaim The Net, Business Insider, SiliconANGLE, ZeroHedge News, Bitcoin News, The Information, Fox Business, Decrypt, Cointelegraph, CoinJournal, CryptoSlate, Cryptopolitan, CoinGape, CoinDesk, Crypto Briefing, crypto.news, Daily Mail, and UPI

Forums: Hacker News, r/behindthebastards, r/inthenews, r/news, r/somethingiswrong2024, r/law, r/neoliberal, r/Buttcoin, and r/Conservative

Ramish Zafar / Wccftech:

AMD says it will lay off ~4% of its global staff to align “resources with our largest growth opportunities”; SEC filing: AMD had 26,000 staff at the end of 2023 — According to a spokesperson, chip designer Advanced Micro Devices, Inc., is laying off a portion of its global workforce.

More: Network World, Financial Express, International Business Times, Tom's Hardware, Techreport, CRN, 80 Level, Bloomberg, Guru3D, News18, SiliconANGLE, The Information, Benzinga, CNBC, UPI, VentureBeat, Wall Street Journal, PCMag, Barron's Online, The Verge, Proactive, Engadget, Invezz, The Register, PC Gamer, TechCrunch, and Reuters

X: @dylanonchips. Forums: r/Amd, r/TechHardware, and r/AMD_Stock

Bloomberg:

Sources: OpenAI plans to launch a new AI agent codenamed Operator, which can use a computer to take actions on a person's behalf, in January 2025 — The new software, codenamed “Operator,” is set to be released in January. — OpenAI is preparing to launch a new artificial intelligence agent codenamed …

More: Business Standard, Financial Express, Android Authority, The Rundown AI, The Indian Express, WinBuzzer, TechCrunch, Gizchina.com, Coinmonks, The Decoder, SiliconANGLE, Nairametrics, MarkTechPost, CoinGape, The Verge, Tom's Guide, The Information, Quartz, eWeek, Tech in Asia, and Benzinga

Mastodon: @carnage4life@mas.to. X: @shiringhaffary and @haydenfield

Forums: r/singularity and Slashdot

John Voorhees / MacStories:

Apple releases updates to Final Cut Pro, adding AI-generated closed captions and Vision Pro spatial video editing, and Logic Pro for macOS and iPadOS — Today, Apple revealed the latest updates to Final Cut Pro for the Mac and iPad, with both offering a variety of new features and simplified workflows.

Abner Li / 9to5Google:

Google says real-time protections against scam calls and malicious apps are rolling out on Pixel 6 or newer devices and coming soon to more Android phones — After demoing at I/O 2024 in May, Google is rolling out real-time Scam Detection for phone calls on Pixel devices.

More: Google Online Security Blog, The Verge, TechRadar, Android Headlines, Android Police, How-To Geek, PhoneArena, Droid Life, Android Faithful, Android Faithful, Droid Life, Android Authority, and BleepingComputer

X: @mishaalrahman and @mishaalrahman

Forums: r/GooglePixel and r/Android

Ian King / Bloomberg:

Cisco reports Q1 revenue down 6% YoY to $13.8B, vs. $13.77B est., net income down 25% to $2.7B, and forecasts Q2 revenue above estimates — - Company has been working to recover from yearlong slump — Federal government spending is seen as a weak spot for Cisco

More: Cisco, RTÉ, SiliconANGLE, Investor's Business Daily, Proactive, MarketWatch, Constellation Research, Benzinga, CNBC, Reuters, and Barron's Online. X: @thetranscript_

The Information:

Sources: Instagram's ad unit plans to launch ads on Threads in early 2025; Meta's public statements imply that any Threads ad rollout in 2025 will be slow — Meta Platforms plans to introduce advertisements to its text app, Threads, early next year, hoping to cash in on the app's rapid growth …

More: 9to5Mac, Neowin, PhoneArena, Benzinga, Reuters, Nairametrics, PYMNTS.com, Android Authority, The Wrap, Tech in Asia, Social Media Today, Engadget, iPhone in Canada Blog, The Verge, and Sherwood News

Threads: @mattnavarra, @lucasknorr, @davidcelis, @jonloomer, @guillecummings, and @theofficialkatya. Forums: Slashdot

See also Mediagazer

Bloomberg:

Foxconn reports Q3 revenue up 20% YoY to a record ~$57.01B, a ~$1.5B net income, vs. ~$1.41B est., and expects half of its server orders in 2025 to be for AI — - Both beat quarterly profit estimates thanks to AI servers — Hon Hai cloud products to match mobile phone sales in 2025

More: Barron's Online, Wall Street Journal, BusinessLIVE, Hon Hai, Reuters, Nikkei Asia, Proactive, RTÉ, Reuters, and The Indian Express

Natasha Lomas / TechCrunch:

UK consumer rights group Which? launches a legal claim against Apple, seeking £3B in compensation, alleging that Apple locked ~40M UK users into iCloud services — U.K. consumer rights group ‘Which?’ is filing a legal claim against Apple under competition law on behalf of some 40 million users …

More: Which?, Forbes, AppleInsider, 9to5Mac, Wall Street Journal, MacRumors, London Evening Standard, TechRadar, Macworld, ITV News, ComputerWeekly.com, TweakTown, BBC, Proactive, Digital Trends, Reuters, LBC, Telegraph, City A.M., Sky News, The Register, The Independent, Yahoo Finance, and The Mirror. Forums: r/apple

Lauren Forristal / TechCrunch:

Google announces new features for the Fitbit Ace LTE, its smartwatch for kids, including family group chats, messaging for siblings, and a new mini-game — Fitbit's Ace LTE, the smartwatch designed for ages 7+, is introducing new features to help families stay connected and get active together.

More: The Keyword, MakeUseOf, Phone Scoop, Techopedia, Android Central, Android Police, PhoneArena, Neowin, How-To Geek, CNET, Android Authority, and 9to5Google

Wall Street Journal:

X names Mahmoud Reza Banki as CFO; Banki, who Trump pardoned for making false statements in January 2021, was Tubi CFO and, a source says, joined X in November — Mahmoud Reza Banki, former Tubi finance chief, joins platform amid financial challenges — Elon Musk's X Corp. named Mahmoud …

More: Business Insider, VCCircle, Reuters, and Reuters. X: @silvermanjacob

Sergiu Gatlan / BleepingComputer:

FBI and CISA: Chinese hackers breached multiple US telecom companies, compromising the “private communications” of US officials and stealing customer call data — CISA and the FBI confirmed that Chinese hackers compromised the “private communications” of a “limited number” …

More: Cybersecurity …, TechCrunch, Reuters, Help Net Security, Bloomberg, Al Jazeera, Notebookcheck, Politico, The Register, PCMag, and Fox News

Ingrid Lunden / TechCrunch:

DeepL debuts DeepL Voice to give users real-time text translations of others speaking in one of 13 different languages; DeepL had a $2B valuation in May 2024 — DeepL has made a name for itself with online text translation it claims is more nuanced and precise than services from the likes of Google …

More: Unite.AI and DeepL Translate

X: @deeplcom and @ingridlunden

New York Times:

A look at “blind box livestreaming”, an e-commerce trend in China that has become an entertaining and, some users and experts said, addictive pastime — How many plastic trinkets would you end up with? The game keeps many addicted, buyers and spectators alike.

Chris Welch / The Verge:

Sonos reports Q4 revenue down 8% YoY to $1.5B, spent $4M on “app recovery investments”, and has released 16 app updates and “restored 90% of missing features” — Sonos is still trying to climb out from the hole it dug itself earlier this year by recklessly shipping …

More: The Ambient, Wall Street Journal, and Sonos. Forums: r/sonos

Ava Benny-Morrison / Bloomberg:

US filing: FTX co-founder Gary Wang, due for sentencing on November 20, built “tools” to help the US detect potential fraud in the stock and crypto markets — - Prosecutors said the Wang offered ‘outstanding’ cooperation — Much like his former FTX colleagues that became government witnesses …

More: Blockhead, Reuters, and Cointelegraph

X: @molly0xfff and @historian_ftx

Bloomberg:

Sources: the UK Treasury is planning to introduce legislation on stablecoins and staking; the FCA says it plans to publish a crypto regulatory roadmap “shortly” — - Government to introduce legislation on stablecoins, staking — UK faces industry pressure for clarity as US, EU set pace

More: Bitcoin Insider, CoinGape, Blockonomi, crypto.news, and The Crypto Times

Krystal Hu / Reuters:

CoreWeave closed a $650M secondary share sale led by Jane Street, Magnetar, Fidelity Management, and Macquarie Capital, a source says at a $23B valuation — AI cloud startup CoreWeave said on Wednesday it has closed a $650 million minority investment led by Jane Street, Magnetar …

More: DatacenterDynamics, Tech Monitor, Maginative, SiliconANGLE, CRN, NBC10 Philadelphia, CoreWeave, and PitchBook. X: @jordannovet

Jess Weatherbed / The Verge:

Google updates Maps to help users search for products like home goods, clothing, and electronics and find stores nearby, improve traffic reporting, and more — Google has added some new travel and shopping features to Maps that aim to make it easier to find local products and stay on time during busy periods.

More: The Keyword, Android Authority, Android Police, Engadget, Android Central, Tom's Guide, and BGR

Anne Steele / Wall Street Journal:

Spotify plans to pay incentives to video creators who hit certain viewing thresholds and, in January 2025, to let Premium users view podcast videos without ads — Audio-streaming giant plans to pay hosts to make podcast videos and allow premium subscribers to watch them without ads

More: The Verge, T3, Spotify, Engadget, Music Ally, The Independent, Los Angeles Times, Business Insider, TechCrunch, and Spotify

X: @spotifycreator, @spotifynews, @kantrowitz, @alexeheath, and @paulroetzer

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From Mediagazer

Dominick Mastrangelo / The Hill:

President Trump told reporters “it's imperative” for CNN to be sold: “Any deal it should be guaranteed and certain that CNN is part of it or sold separately”

Charlotte Tobitt / Press Gazette:

Mirror Editor-in-Chief Caroline Waterston steps down after less than two years, to be succeeded by Chloe Hubbard, currently UK editor at The Independent

Sara Fischer / Axios:

Pinterest agrees to acquire tvScientific, a CTV ad platform that automates and optimizes ad buying; tvScientific was founded in 2020 and has raised ~$60M

Upcoming Tech Events

Game Developers Conference

More News

Alessandro Parodi / Reuters:

Estonian ride-hailing and food delivery startup Bolt says it hit €2B in annual revenue and plans a 2025 IPO; Bolt had an $8B+ valuation in January 2022

More: Nairametrics

Bloomberg:

JD.com reports Q3 revenue up 5.1% YoY to ~$36B, above $35.9B est., and net income up 48% YoY to ~$1.6B, suggesting a recovery in segments of China's economy

More: Reuters, BusinessLIVE, Tech in Asia, and Wall Street Journal

Ingrid Lunden / TechCrunch:

London-based Tessl, which is building an AI to write and maintain code, raised $125M across seed and Series A, sources say at a $500M+ post-money valuation

More: Tech.eu, UKTN, Fortune, City A.M., Index Ventures, and Tessl.io

X: @indexventures. LinkedIn: Guy Podjarny

Rest of World:

Indian mom-and-pop “kirana” stores are struggling to compete with quick commerce on discounts and delivery; ~200K kirana stores have closed in the past year

Francesco Guarascio / Reuters:

A look at Vietnam's expansion in the $95B chip packaging industry; SIA and BCG expect Vietnam to have 8%-9% of the global share by 2032, up from 1% in 2022

Charles Q. Choi / IEEE Spectrum:

Researchers detail RoboPAIR, an algorithm that is designed to induce robots, relying on LLMs for their inputs, to ignore models' safeguards without exception

More: RoboPAIR and arXiv

X: @ieeespectrum and @alexrobey23

Yang Jie / Wall Street Journal:

Nvidia says Jetson Thor, a computer first unveiled in March 2024 and designed for testing humanoid robot software, will be available in the first half of 2025

More: TipRanks Financial

Samuel K. Moore / IEEE Spectrum:

Nvidia B200 GPU and Google Trillium TPU debut on the MLPerf Training v4.1 benchmark charts; the B200 posted a doubling of performance on some tests vs. the H100

More: WinBuzzer, The Register, ML Commons, Guru3D, Forbes, The Decoder, Wccftech, and NVIDIA

X: @mlcommons and @mlcommons

Earlier Picks

June Yoon / Financial Times:

TrendForce: the ASP of high-end AI chips from Nvidia and others is ~5x more than conventional memory chips, creating a winner-takes-all trend in the chip sector

More: The Motley Fool and The Daily Upside

Bloomberg:

Sources: Thrive Capital is in talks to invest ~$1B in analytics software maker Databricks at a ~$55B valuation; PitchBook says DataBricks has raised $4B+ so far

More: Reuters

Nicole Hegarty / ABC:

Australia plans to enact laws imposing a “digital duty of care” on big tech, which would make companies liable for citizens' safety online

Jamie Crawley / CoinDesk:

Toronto-based Zero Gravity Labs, which is building a decentralized AI operating system, raised a $40M seed and secured a $250M “token purchase commitment”

More: SiliconANGLE, The Block, Decrypt, and Cointelegraph

X: @mheinrich, @emostaque, @0g_labs, @tiffanylai_, @jayputera, @moca_network, @web3arcadia, @carv_official, and @austinbarack

Annie Palmer / CNBC:

Docs and sources: Amazon has discontinued a secretive effort to develop an at-home fertility tracker, which was part of its moonshot incubator Grand Challenge

More: Benzinga and TechCrunch

Mastodon: @ampersine@mastodon.online. LinkedIn: Annie Palmer. Forums: r/technology and Slashdot

Anissa Gardizy / The Information:

Sources: execs at xAI's rivals were alarmed by how fast the startup set up the 100K GPU cluster Colossus; a source says Sam Altman argued with Microsoft over it

More: Spyglass and Tom's Hardware

Bluesky: @niedermeyer.io. X: @sundeep and @anissagardizy8

Emma Roth / The Verge:

Google says it will test removing news articles from EU-based publishers from Search for 1% of users in France, Poland, Italy, Spain, and other EU countries

More: The Keyword, PhoneArena, Digiday, 9to5Google, Android Headlines, Android Central, Engadget, and NewsBytes

Bluesky: @martinsfp.bsky.social. Forums: r/europe