Nothing particularly frightening emerged from the two big tech goliaths that reported September quarterly results tonight, Apple and Amazon. But they offered nothing particularly cheery, either.For both companies, the updates had a mix of good and bad news. Apple, for instance, reported 6% top-line growth for the September quarter, its best quarterly growth number in two years. That was thanks to 5.5% growth in iPhones, twice the improvement of the... Read more ›
14
After competing on “MasterChef” in 2019, Nick DiGiovanni started posting videos on YouTube, including an elaborate dessert he planned if he’d made it to the finale, and on TikTok where he started going viral for making mini gourmet meals for his pet hamster, Pesto.  Now 28, he turned that TV appearance and initial momentum on social media into a full-time career as a creator. While he makes most of his... Read more ›
21
Amazon expects to boost capital expenditures in 2025, exceeding this year’s spending of roughly $75 billion, driven primarily by new infrastructure to support the company’s artificial intelligence and cloud business, executives said Thursday. The company reported a record $22.6 billion in ... Read more ›
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The Securities and Exchange Commission hit JPMorgan with a $151 million civil penalty for five separate actions related to failures in the bank’s securities and investment management subsidiaries. The SEC on Thursday said investors in some of JPMorgan’s private funds products were exposed to ... Read more ›
0
Tether, the world’s largest stablecoin issuer, reported third-quarter net profit of $2.5 billion, up 92% from the prior quarter. Tether, which currently has market circulation of $120 billion, primarily makes revenues from interest generated by reserve assets backing the stablecoin. Its ... Read more ›
0
Apple lifted revenue 6% to $94.9 billion in the September quarter, its strongest growth in two years. Operating profit rose 10% to $29.6 billion, while after-tax profit dipped sharply reflecting a big tax penalty levied against Apple in Europe. Apple stock fell slightly in after-hours ... Read more ›
0
Intel posted a third-quarter loss of $16.6 billion stemming largely from its ongoing restructuring efforts. The results included roughly $10 billion in charges related to a deferred tax asset and markdowns of manufacturing assets and its 2017 acquisition of autonomous vehicle technology ... Read more ›
0
Amazon Web Services revenue grew 19% to $27.5 billion in the third quarter, the same rate as the previous quarter, Amazon said Thursday. Meanwhile, the cloud computing unit’s operating margins ticked up to 38.1% from 35.5% over the same period of time. Amazon shares rose 5% in after-hours ... Read more ›
0
Few are as skilled, and quick, as Elon Musk at raising capital—billions of dollars, no less. But if there’s one constant in Musk’s fundraising strategy, it’s that he often changes the details of a round at the last minute. Take the latest process to raise money for his 18-month-old artificial intelligence startup, xAI. Representatives of the startup, including Musk’s right-hand man, Jared Birchall, have been talking to investors about another... Read more ›
1
Investors in autonomous vehicle-maker Waymo’s latest funding round, which was announced last week, valued its business at $45 billion, according to a Thursday report by Bloomberg. That’s a surprisingly low number, given that Alphabet and other investors have committed at least $13 billion to ... Read more ›
0
OpenAI said Thursday it added more web search capabilities to ChatGPT, putting it in greater competition with Google as consumers increasingly use chatbots as a partial replacement for traditional searches. ChatGPT’s conversational answers will now include more links to relevant websites that ... Read more ›
0
Microsoft said Thursday it hired Jay Parikh, a former Facebook engineering leader who was recently CEO of the cybersecurity startup Lacework, to report to CEO Satya Nadella in an unspecified role. Microsoft “will share more on his role and focus in the next few months,” Nadella said in a blog ... Read more ›
0
For about 18 months, between mid-2021 and early 2023, I may have been one of Silicon Valley’s youngest—and poorest—angel investors. How? By passing the test to become a licensed investment adviser, then registering my own advisory firm. This allowed me to bypass the longstanding rule that only the wealthy—people with a net worth of at least $1 million or an annual income of more than $200,000—could invest in startups. Through... Read more ›
0
Comcast is considering spinning off its cable channels into a new company owned by its existing shareholders, Comcast president Michael Cavanagh said on Thursday, in a sign of how the decline of the cable universe is prompting big entertainment companies to rethink their business ... Read more ›
0
Sequoia partner Shaun Maguire has risen to prominence over the past year for his friendship with Elon Musk, which has helped the firm get in on highly-coveted rounds in SpaceX and X. Through X, Sequoia also stands to get a stake in xAI, Musk’s artificial intelligence lab. Maguire’s latest bet is on Decart, a startup that one day hopes to compete with xAI, as well as other firms developing large... Read more ›
0
DoorDash struck a marketing partnership with Lyft, under which customers of both services can get discounts, a sign that both companies are trying to improve their ability to compete with Uber which owns both a ride-hailing and a restaurant food delivery service. The announcement coincided with ... Read more ›
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Uber lifted revenue 20% to $11.2 billion in the third quarter, as higher advertising revenues in its Uber Eats delivery service offset weakening gross bookings on its ride-hailing operation. Uber forecast a slightly higher rate of growth in its gross bookings in the fourth quarter. The ... Read more ›
0
Will Microsoft, Google and Meta's outsize investments in artificial intelligence produce outsize profits? Perhaps, but shareholders realized this week they'll have to wait longer to find out. September quarter reports from several big tech companies showed that while their business and consumer customers spent more on conversational AI services such as ChatGPT in the third quarter, it's far from going gangbusters. And what growth is being achieved may be offset... Read more ›
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Peloton Interactive has appointed a former Apple and Time Warner Cable executive, Peter Stern, as its new CEO, effective Jan. 1. Stern succeeds Barry McCarthy, who stepped down in May after two year stint at the fitness firm. Stern has long experience in subscription businesses, which is now ... Read more ›
0
Danger, danger! That’s the message Wall Street sent Meta Platforms tonight, as investors sold off shares in the company in the wake of its predictably healthy third-quarter earnings result. They perhaps weren’t thrilled that Meta plans to lift capital expenditures significantly again next year, on top of a projected increase this year of as much as 43%.Meta’s habit of spending tens of billions on unproven new technologies has been a... Read more ›
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Most popular sources
Business Insider
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46% 2 |
Financial Times
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11% 11 |
The Verge
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10% 4 |
Tom's Hardware
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7% 2 |
Gizmodo
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6% 3 |
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24.11.2024 03:32
Last update: 03:10 EDT.
News rating updated: 10:20.
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