February 1, 2023, 4:55 AM

Top News

Jason Schreier / Bloomberg:
A look at Microsoft's prized 343 Industries, the studio behind Halo, after a leadership overhaul, layoffs, and more; sources detail a pivot to Unreal Engine  —  Microsoft Corp. says it's going to keep making new games in the popular Halo franchise at its prized 343 Industries studio — despite rumors to the contrary.
Casey Newton / Platformer:
Instagram co-founders Kevin Systrom and Mike Krieger form a venture to explore next-gen social apps; the first is Artifact, a TikTok-like app for news articles  —  EXCLUSIVE: Meet Artifact, a kind of TikTok for text  —  Kevin Systrom and Mike Krieger are back.
Ian King / Bloomberg:
Intel cuts employee pay to preserve cash for investment, ranging from 25% for CEO Pat Gelsinger, 15% for executive leadership, to 5% for mid-level managers  —  Intel Corp., struggling with a rapid drop in revenue and earnings, is cutting management pay across the company to cope with a shaky economy …
Ina Fried / Axios:
Bill Toulas / BleepingComputer:
Microsoft disabled multiple fraudulent, verified Microsoft Cloud Partner Program accounts for creating malicious OAuth apps used to steal customers' emails  —  Microsoft has disabled multiple fraudulent, verified Microsoft Partner Network accounts for creating malicious OAuth applications …
Ashley Capoot / CNBC:
Jennifer Elias / CNBC:
Sources and documents: Google asks employees to test potential ChatGPT competitors, including Apprentice Bard, a chatbot that uses its LaMDA conversational tech  —  - Google is testing ChatGPT-like products that use its LaMDA technology, according to sources and internal documents acquired by CNBC.
Kif Leswing / CNBC:
AMD reports Q4 revenue up 16% YoY to $5.6B, vs. $5.5B est., net income down 98% YoY to $21M, and Client segment revenue down 51% YoY due to weak PC chip sales  —  - AMD reported fourth quarter earnings on Tuesday, beating Wall Street expectations for sales and profit, but guided analysts …
Sylvia Varnham O'Regan / The Information:
Sources: seeking to boost Reels' quality, Meta executives are leaning toward relaxing the company's long-standing opposition to sharing ad revenue with creators  —  When Wall Street analysts dial into an earnings call tomorrow with Mark Zuckerberg, they're likely to pepper the Meta Platforms CEO …
Jonathan Vanian / CNBC:
Snap reports Q4 revenue flat YoY at $1.3B, vs. $1.31B est., DAUs up 17% YoY to 375M, and a $288M net loss, vs. $23M in net income YoY; stock drops 14%+  —  - Snap missed on revenue for the fourth quarter but beat on earnings.  — Snap had a rough 2022, as a slowing economy led numerous companies to slash their digital ad budgets.
TJ Denzer / Shacknews:
EA Q3: revenue up 5% YoY to $1.88B, vs. $2.5B est., net income up 209% YoY to $204M, net bookings down 9% YoY to $2.34B, and lowers FY guidance; stock drops 10%  —  The game publishing giant reduced its full year revenue expectations by about half a billion dollars in its latest quarter guidance.
Ryan Browne / CNBC:
The UK lays out plans to regulate crypto, including measures to strengthen rules for lending, disclosures, financial intermediaries, and crypto custodians  —  - The U.K. laid out plan to regulate the cryptocurrency industry.  — The proposals include strengthening rules on crypto lending …
Financial Times:
The US and India launch an initiative to cooperate on critical and emerging technologies, including quantum computing, AI, and semiconductors, to counter China  —  Effort designed to counter China in the Indo-Pacific and wean New Delhi off its reliance on Russia for weapons
Sohee Kim / Bloomberg:
As memory prices plunge, SK Hynix reports a ~$1.4B Q4 operating loss, its biggest quarterly operating loss yet, vs. ~$900M est., and a 38% YoY drop in revenue  —  South Korean chipmaker SK Hynix Inc. reported its biggest quarterly loss on record, due to plunging prices in memory chips as tech demand fell worldwide.

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