Oracle reports Q2 revenue up 14% YoY to $16.06B, below $16.21B est., and raises its FY capex forecast to ~$50B, up from $35B as of September; ORCL drops 15%+
Oracle shares sank 11% in extended trading on Wednesday after the database software maker reported lower quarterly revenue …
A profile of Epic Systems CEO Judy Faulkner, who has led the EHR software company for 46 years, building it into one of the largest private US tech companies
Ashley Capoot / CNBC :
Elon Musk says xAI acquired X in an all-stock deal valuing xAI at $80B and X at $33B; xAI was reportedly in talks to raise funds in February at a $75B valuation
Elon Musk said on Friday that his startup xAI has merged with X, his social network, in an all-stock transaction that values …
In a meeting with GOP lawmakers, Donald Trump proposed taxing carried interest as ordinary income, a policy that could sharply increase the tax bill for VCs
On Thursday, President Trump asked Republican lawmakers to end tax breaks on carried interest. — The tax break allows private equity …
Sources: a deep philosophical rift over how DOGE should operate spurred Vivek Ramaswamy's exit, with Donald Trump's January 20 EO embodying Elon Musk's vision
A deep philosophical rift between the two billionaire leaders of the “Department of Government Efficiency” left Musk to run the group.
Palantir stock jumps 11% after announcing a move from the NYSE to the Nasdaq; its stock is up 50%+ since reporting better-than-expected earnings on November 4
Palantir shares continued their torrid run on Friday, soaring 11% to a record, after the developer of software for the military announced plans …
Sources: xAI raised $5B at a $45B valuation, almost double its valuation a few months ago; SpaceX prepares a tender offer that would value the company at $250B+
Financial Times :
Oracle shares are up 50%+ YTD, well outpacing the Nasdaq's 14% rise, as the 47-year-old company becomes an attractive cloud-computing provider for AI developers
Long-stagnant stock is up 34% thanks to its neutral status in the booming market for AI computing power
Oracle reports Q1 revenue up 7% YoY to $13.31B, vs. $13.23B est., cloud infrastructure revenue up 45% YoY to $2.2B, and $2.93B in net income; ORCL jumps 10%+
the entry price for a real frontier model from someone who wants to compete in that area is about $100 billion. Let me repeat, around $100 billion. That's over the next 4, [image] ...
Sources: a16z shut its Miami office in May 2024 because staff weren't using it enough; VC funding to Miami-based startups has flagged since 2022's crypto rout
When Andreessen Horowitz opened an outpost in Miami Beach, the $43 billion venture capital giant bolstered the region's ambitions of becoming a tropical tech mecca.
A source at X says the Donald Trump interview crash was not the result of a DDoS attack; another X employee said there was a “99 percent” chance Musk was lying
Elon Musk's “conversation” with former President Donald Trump got off to a rocky start.
Elon Musk's Donald Trump interview on X Spaces was derailed by technical glitches at the scheduled start time on August 12; Musk blamed “a massive DDoS attack”
but Elon Musk Desperately Needs Him Back Simon Sharwood / The Register : Elon Musk claims live Trump interview on X derailed by DDoS Emily Dreibelbis / PCMag : Musk Blames DDoS Att...
Meta reports Q2 revenue up 22% YoY to $39B, net income up 73% to $13.5B, and family daily active people up 7% to 3.27B on average for June 2024; META jumps 5%+
Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended June 30, 2024.
Meta's Reality Labs posts Q2 revenue up 28% YoY of $353M, vs. $371M est., and a $4.48B operating loss, vs. $4.55B est.; Reality Labs has lost ~$50B since 2020
Jonathan Vanian / CNBC :
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...
Cloud data management startup Rubrik files for a NYSE IPO under the symbol RBRK, reporting a net loss of $354M on revenue of $628M for the year ended January 31
Cloud data management startup Rubrik files for a NYSE IPO under the symbol RBRK, reporting a net loss of $354M on revenue of $628M for the year ended January 31
We are on a mission to secure the world’s data. Cyberattacks are inevitable. Kyle Alspach / CRN : Rubrik Files IPO Plans, Reports $784 Million In ARR Lindsay Clark / The Registe...
Lyft reports Q4 revenue up 4% YoY to $1.2B, net loss of $26.3M, vs. $588.1M YoY, active riders up 10% to 22.4M, and Q1 forecast above est.; LYFT jumps 10%+
Antonia Mufarech / Bloomberg :
A typo in Lyft's Q4 release mistakenly forecast a 500 BPS of EBITDA margin improvement for 2024, causing a stock surge, before the error was corrected to 50 BPS
- Lyft mistakenly forecast 500 basis points of margin improvement for 2024, causing a stock surge.