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Techmeme
April 25, 2024, 1:05 PM
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Top News

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 on average 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 “tens of millions of people” have “tried” Meta AI but making money from generative AI in Meta's apps is likely going to take several years  —  The generative AI gold rush is underway — just don't expect it to create profits anytime soon.
Karissa Bell / Engadget:
On Meta's Q1 earnings call, Mark Zuckerberg said that Threads now has more than 150M MAUs, up from more than 130M in February 2024
Ashley Capoot / CNBC:
Meta's stock drops 10%+ on weak Q2 revenue guidance and increasing FY 2024 capital expenditures from $30B-$37B to $35B-$40B due to 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 has lost $45B+ since 2020's end
The Information:
Sources: ByteDance is exploring scenarios for selling a majority stake in TikTok US, preferably to a non-tech company, and without the recommendation algorithm  —  ByteDance is internally exploring scenarios for selling a majority stake in TikTok's U.S. business, preferably to companies outside …
Wall Street Journal:
Sources: ByteDance executives have previously considered TikTok's global operations to be worth ~50% of the Chinese company's overall value, or above $100B
Abner Li / 9to5Google:
Google Meet rolls out an update to let users seamlessly transfer calls between devices “without hanging up and rejoining” via its Android, iOS, and web apps  —  Let's say you start a call on your phone because you're not at your desk yet.  Once you get to a computer …
Cheng Ting-Fang / Nikkei Asia:
TSMC unveils A16, chip manufacturing tech featuring nanosheet transistors with “backside power rails” meant for producing its ultra-advanced 1.6nm chips by 2026  —  Taiwan chip titan aims to secure leading position and capture AI demand  —  TAIPEI — Taiwan Semiconductor Manufacturing Co …
Cecilia Kang / New York Times:
The FCC votes 3-2 to reinstate net neutrality rules, expanding government oversight of ISPs and aiming to protect consumer access to the internet  —  Commissioners voted along party lines to revive the rules that declare broadband as a utility-like service that could be regulated like phones and water.
Melissa Heikkilä / MIT Technology Review:
A look at AI video startup Synthesia, whose avatars are more human-like and expressive than predecessors, raising concerns over the consequences of realistic AI  —  I'm stressed and running late, because what do you wear for the rest of eternity?  —  This makes it sound like I'm dying, but it's the opposite.
Ben Glickman / Wall Street Journal:
The US awards Micron up to $6.1B under the CHIPS Act, to back an up to $125B investment to build a megafab in New York and a fab in Idaho over the next 20 years  —  Micron Technology MU -.60%decrease; red down pointing triangle is receiving up to $6.1 billion from the federal government …
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  —  Change Healthcare Finally Admits It Paid Ransomware Hackers—and Still Faces a Patient Data Leak
Shubham Sharma / VentureBeat:
Snowflake launches Arctic, an LLM optimized for enterprise tasks such as SQL generation, coding, and instruction following, under 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 …
Bob Van Voris / Bloomberg:
US prosecutors charge two founders of Samourai Wallet, saying the crypto mixing service facilitated more than $100M in “money laundering and sanctions evasion”  —  - US prosecutors say Samourai Wallet was ‘haven for criminals’  — Europol has said crypto mixing services are a ‘top threat’
Andy Chalk / PC Gamer:
Garry's Mod is removing “all Nintendo related stuff” from its Steam Workshop, covering “20 years of uploads”, after receiving a takedown request from Nintendo  —  Fans aren't happy, as you can imagine.  —  Following a takedown request issued by Nintendo …
Scharon Harding / Ars Technica:
Reddit says its Dynamic Product Ads, which use “shopping signals” to automatically show relevant ads to users, are entering public beta globally  —  Reddit says its “communities are naturally commercial.”  —  Reddit has made it clear that it's an ad-first business.
Ben Glickman / Wall Street Journal:
IBM agrees to acquire HashiCorp, which helps companies manage cloud infrastructure, in a deal valuing HashiCorp at $6.4B and set 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

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About This Page

This is a Techmeme archive page. It shows how the site appeared at 1:05 PM ET, April 25, 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

Alex Weprin / The Hollywood Reporter:
Condé Nast CEO Roger Lynch is stepping down after 7.5 years to become the CEO and chairman of Mattel; lead independent director Mike Perlis will be interim CEO

Andrea González-Ramírez / The Cut:
Q&A with two Cornell Daily Sun student journalists on breaking the news of a suit alleging seven students raped a woman, followed by a fiery editorial, and more

Andrew Deck / Nieman Lab:
OpenAI doubles support for Lenfest's AI and local news fellowships, committing an additional $10M, after placing AI fellows in 11 local newsrooms across the US

More News

Earlier Picks

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
Kyle Wiggers / TechCrunch:
AI coding assistant startup Augment emerges from stealth with a $227M Series B at a $977M post-money valuation, following a $25M Series A led by Sutter Hill
CNBC:
Cloud data management startup Rubrik priced its NYSE IPO at $32 per share, above its expected $28 to $31 range, raising $752M and valuing the company at $5.6B
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
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%+
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