AMD reports Q1 revenue down 9% YoY to $5.35B, vs. $5.3B est., a $139M net loss, Client revenue down 65% YoY to $739M, and Q2 guidance below est.; AMD drops 5%+
- AMD's report comes as the PC industry is in a deep slump, with shipments dropping 30% in the first quarter, according to IDC.
CoinDesk retains Lazard investment bankers to help the outlet explore its options, including a partial or full sale, after “numerous” indications of interest
Company has ‘received numerous inbound indications of interest,’ CEO Kevin Worth says
A look at China's growing, Beijing-endorsed “virtual people” industry, including scandal-free influencers, performers, and customer service representatives
and perhaps shouldn't be. Instead, pseudonymous names and virtual faces... Evelyn Cheng / @chengevelyn : Lots of money is going toward the development of virtual people in China ht...
As the Nasdaq closes its worst year since 2008, IBM was a bright spot for tech companies with a $50B+ market cap, rising 6% in 2022, as investors sought safety
but one server maker soared almost 90%, beating all its peers Tweets: Tuvia Elbaum / @tuviae : Lol. “No one ever got fired for buying IBM”. Too literal 😂 https://twitter.com/... Ba...
Internal documents detail Google's new performance review process, estimating 6% of full-time employees will get low ratings starting in 2023, versus 2% before
Jennifer Elias / CNBC :
Filing: shareholders voted against Intel's compensation for its top executives; the vote is advisory and won't immediately affect the compensation of the execs
Kif Leswing / CNBC : Tweets: @tedkempcnbc and @wolfhunter1450 Tweets: Ted Kemp / @tedkempcnbc : The vote at Intel is the latest example of shareholders advising against executive ...
In an email to staff, Uber CEO Dara Khosrowshahi says the company will cut spending on marketing and incentives, treat hiring as a “privilege”, and more
- Uber will slash spending on marketing and incentives and treat hiring as a “privilege,” CEO Dara Khosrowshahi said in an email to staff on Sunday.
Meta plans to slow hiring amid record low revenue growth; source: Meta paused entry-level hiring and plans to stop or slow hiring for mid-level and senior roles
- Facebook's parent company sees challenges ahead because of Apple's privacy changes, the war in Ukraine and broad macroeconomic shifts.
France becomes the first major European nation to grant regulatory approval for Binance, after a backlash from UK, Italy, and Singapore regulators in 2021
Ryan Browne / CNBC :
Intuit agrees to pay $141M in restitution to nearly 4.4M US customers charged for using the TurboTax Free Edition, in a settlement with all 50 states and DC
Greg Iacurci / CNBC :
Sources: PayPal Mafia members, Jack Dorsey, and others who disliked Twitter's direction pushed Musk to launch a bid; Musk is dismayed that Trump is still banned
Behind the scenes, fellow billionaires and internet provocateurs bent Tesla CEO's ear; Jack Dorsey's role — Elon Musk unveils the Tesla Model Y in 2019.
Filings: Elon Musk sold ~$8.4B worth of Tesla stock in the days after his bid to take Twitter private; on Thursday, Musk tweeted “No further TSLA sales planned”
it's going to be hilarious watching Elon ruin Twitter and lose billions in the process https://twitter.com/... Johan Moreno / @dudejohan : I never believed Elon when he said “he do...
Amazon unveils Buy with Prime, which lets third-party merchants use Amazon's shipping and logistics network to fulfill orders on their own sites
- Buy with Prime enables third party retailers to take advantage of Amazon's vast shipping and fulfillment network for orders placed on their own site.
Intel apologizes, following a backlash in China, for telling Chinese suppliers to avoid Xinjiang labor, saying it only did so to “ensure compliance” with US law
Tech companies withdraw from in-person CES Simon Sharwood / The Register : Intel ‘regrets’ offending China with letter telling suppliers to avoid Xinjiang Liza Lin / Wall Street Jo...
Intel apologizes, following a backlash in China, for telling Chinese suppliers to avoid Xinjiang labor, saying it only did so to “ensure compliance” with US law
Tech companies withdraw from in-person CES Simon Sharwood / The Register : Intel ‘regrets’ offending China with letter telling suppliers to avoid Xinjiang Agence France-Presse : In...
Intel apologizes following backlash after telling Chinese suppliers to avoid Xinjiang labor, saying it only did so to “ensure compliance” with US law
- Brand ambassador Wang Junkai cuts ties with the U.S. chipmaker — Intel asked suppliers not to use labor, products from Xinjiang