President Biden signs the ByteDance-TikTok divest-or-ban bill into law, after the Senate passed it by 79-18; the House passed the legislation 360-58 on April 20
The divest-or-ban bill is now law, starting the clock for ByteDance to make its move. The company has an initial nine months …
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.
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
should investors consider buying? Kathleen Gallagher / Business Post : Shares in Meta plummet as it forecasts spending spree TJ Denzer / Shacknews : Facebook (META) issues Q2 2024 revenue guidance bel...
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.
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
It's burned $45 billion on the metaverse since the end of 2020. — https://www.cnbc.com/... #tech #meta #metaverse #vr X: Jason Kint / @jason_kint : So generous. This is very likely just more aggres...
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
Karissa Bell / Engadget :
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
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 …
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 …
Snowflake announces Arctic, an LLM optimized for enterprise tasks such as SQL generation, coding, and instruction following, with 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 …
Sources: ByteDance executives have previously considered TikTok's global operations to be worth ~50% of the Chinese company's overall value, or above $100B
The answer depends partly on whether TikTok bundles the U.S. and international businesses, and if it includes its algorithm @raffaelehuang @soonweilun https://www.wsj.com/... https://www.wsj.com/... @...
US prosecutors charge two founders of Samourai Wallet, saying the crypto mixing service facilitated more than $100M in money laundering transactions
- US prosecutors say Samourai Wallet was ‘haven for criminals’ — Europol has said crypto mixing services are a ‘top threat’
IBM agrees to buy HashiCorp, which helps companies manage cloud infrastructure, in a deal valuing HashiCorp at $6.4B and expected 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
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
There were times I wasn't sure the Rabbit R1 was even a real thing. The AI-powered, Teenage Engineering-designed device came …
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 …
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 …
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 …
Interviews with 24+ current and ex-ByteDance staff: the Beijing-based company has tightened its grip on TikTok over the past two years, causing a culture clash
Financial Times :
Biden's re-election campaign plans to continue using TikTok for at least the next year, with “enhanced security measures”, to help “meet voters where they are”
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.
IBM reports Q1 revenue up 1% YoY to $14.46B, vs. $14.55B est., software revenue up 5.5% YoY to $5.9B, and net income of $1.6B, up from $927M YoY; IBM drops 5%+
Jordan Novet / CNBC :
Sources: Microsoft has scrambled to respond to new attacks from the Russia-linked SolarWinds hackers, as its engineers prioritize security over new features
The world's largest tech company has a security problem. A series of high-profile security incidents have rocked Microsoft …
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.
Apple researchers share OpenELM, a family of LLMs with 270M to 3B parameters, designed to run on-device, and pre-trained and fine-tuned on public datasets
Shubham Sharma / VentureBeat :
Sources: a Huawei-led consortium, backed by Chinese government funding, aims to compete with Nvidia by making high-bandwidth memory chips, used in GPUs, by 2026
Huawei Technologies is leading a group of Chinese semiconductor companies seeking memory chip breakthroughs …
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
Foo Yun Chee / Reuters :
WhatsApp rolls out passkey support on iOS, removing the need for users to deal with SMS one-time passcodes, six months after introducing the feature on Android
Aisha Malik / TechCrunch :
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%+
Brian McGleenon / The Block :
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
Movement Labs, which is building Movement L2, a layer-2 Ethereum blockchain based on the Move programming language, raised a $38M Series A led by Polychain
Leo Schwartz / Fortune :
SK Hynix reports Q1 revenue of ~$9B, more than doubling YoY, and ~$2B in operating income, above estimates of ~$1.3B and the biggest quarterly profit since 2022
Yoolim Lee / Bloomberg :
Filing: Swiggy, which has a ~45.8% share of the Indian food delivery market, secures shareholder approval for a potential $1.25B IPO, slated for later in 2024
Manish Singh / 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
Kyle Wiggers / TechCrunch :
Franco-Italian chip company STMicro reports Q1 revenue down 18% YoY to $3.47B, below $3.63B est., and expects Q2 sales down 26% YoY to $3.2B, below $3.79B est.
Jillian Deutsch / Bloomberg :
K Krithivasan, the CEO of Indian IT giant TCS, says there will be “minimal” need for call centers in as soon as one year, due to AI chatbots taking on the work
Financial Times :
Sublime, which monitors emails of companies and political campaigns to spot AI-generated phishing attacks, raised a $20M Series A, taking total funding to $30M
Thomas Brewster / Forbes :
Lenovo survey of 750 CIOs: 96% expect increased AI investment in the next 12 months and 42% don't expect to show return on AI investments for the next two years
Vlad Savov / Bloomberg :
Stripe says some of its products will be available to companies that are using other payments providers, and unveils new embedded finance features and AI tools
A look at Saudi Arabia's spending blitz to become an AI superpower, which has put the kingdom in the middle of an escalating global competition over AI
New York Times : LinkedIn: Monis Rahman LinkedIn: Monis Rahman : AI chips are the new enriched uranium as the US flexes its muscle to prevent other countries from catching up. …
Nooks, whose AI tools can analyze sales calls and summarize customer interactions, raised a $22M Series A led by Lachy Groom, bringing its total funding to $27M
Ken Yeung / VentureBeat :
Memo: Thrasio CEO Greg Greeley plans to resign and five other senior executives will “step down when Thrasio emerges from Chapter 11 in the coming weeks”
Annie Palmer / CNBC : X: @rogoswami and @levynews X: Rohan Goswami / @rogoswami : Holy cow... what's going on in the aggregator world? @annierpalmer keeping the scoop streak going https://www.cnbc.co...
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