| 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: |
| Alex Heath / The Verge: |
| 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 … | Ian King / Bloomberg: |
Qualcomm reports Q3 revenue up 11% YoY to $9.39B, vs. $9.21B est., handset chip sales up 12% YoY to $5.9B, and forecasts Q4 revenue above estimates — - Company says phone units will be ‘flattish’ this year — Upbeat revenue forecast had buoyed stock after earnings report| 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.| Ian King / Bloomberg: |
Arm reports Q1 revenue up 39% YoY to $939M vs. $905.4M est., license and other revenue up 72%, and maintains its outlook for FY 2025; ARM drops 10%+ after hours — - Company doesn't boost outlook despite topping earnings views — CEO says weakness in certain markets is offsetting sales gains| 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.| Bill Toulas / BleepingComputer: |
Zimperium: a massive SMS-stealing malware campaign targeted Android devices worldwide using Telegram bots to infect devices in 113 countries since February 2022 — A malicious campaign targeting Android devices worldwide utilizes thousands of Telegram bots to infect devices with SMS-stealing malware … | 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.| 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 … | Karen Freifeld / Reuters: |
Sources: the US plans to unveil a new rule next month to stop chipmaking equipment exports from some countries to China, exempting allies like the Netherlands — The Biden administration plans to unveil a new rule next month that will expand U.S. powers to stop exports of semiconductor … | Jason Del Rey / Fortune: |
Interviews with 24 current and former Amazon staff say Jeff Bezos' Amazon Way principles remain core under Andy Jassy but are now less universally agreed upon — When Amazon ordered most workers back to the office three days a week in February 2023, Pamela Hayter was not happy about the end of a popular pandemic-era arrangement.| Shubham Sharma / VentureBeat: |
Ema, which helps companies set up and deploy no-code AI agents it calls “universal AI employees”, raised $36M as part of a Series A led by Accel and Section 32 — San Francisco-based Ema, the AI agent startup founded by former Google and Okta employees, today announced it is raising … | 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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| Randall Williams / Bloomberg: |
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| Lorenzo Franceschi-Bicchierai / TechCrunch: |
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| Chris Miller / Financial Times: |