Welcome, Weekenders! In this newsletter:âą The Big Read: The tech elite are using AI to supercharge their cancer battles ⹠Artificial Intelligence: Should AI and Christianity mix? ⹠Tech Culture: Amid AI backlash, billionaires demand new breed of bodyguardâplus, inside the star-studded Breakthrough Prize gala ⹠Plus, Recommendationsâour weekly pop culture picks: âFamily Lore,â âThe Long Runâ and âScream 7âLetâs get straight to one of the biggest happenings at Google... Read more âș
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Intuit shares fell nearly 7% in after-hours trading Thursday despite the software companyâs quarterly report showing revenue grew two percentage points faster than its prior projection for the quarter. The maker of TurboTax and Quickbooks said revenue grew 17% to $4.7 billion in the quarter ... Read more âș
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Block co-founder Jack Dorsey said his payments company plans to lay off 40% of its staff as it believes artificial intelligence tools can help a smaller workforce âdo more and do it better.â In a letter to investors published Wednesday, Dorsey said Block plans to cut its 10,000-strong workforce ... Read more âș
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As Meta Platforms strikes new chip supply deals with AMD and Nvidia, it has been running into problems with AI chips it is designing internally, according to six people with direct knowledge of the matter. Meta last week scrapped the most advanced chip it was developing for training AI models, after struggling with the chipâs design, and shifted its focus to a less complicated version, the people said. The company... Read more âș
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Leaders from Salesforce, Workday and Snowflake tried different tactics this week to show theyâre benefiting from AI and will emerge as winnersâeven though their fast-growing AI products arenât boosting overall revenue growth, fueling concerns known as the SaaSpocalpyse. (See details of their financial results here, here and here.)Â Some leaders signaled that AI was prompting layoffs at their firms or among customers, previously a taboo subject. Some also used unusually... Read more âș
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The Office of the Comptroller of the Currency, which is set to regulate stablecoin issuers such as Circle, Paxos and Stripeâs Bridge, proposed rules that would ban crypto platforms from passing along interest from stablecoin issuers to users who hold stablecoins. If the proposal holds up, it ... Read more âș
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Thrive Capital, which last week announced that it had raised $10 billion in new funds, has returned cash at an above average rate to investors in later funds, while its earlier funds underperformed. As of June, Thriveâs $40 million fund raised in 2011 returned investors 1.3 times their money, ... Read more âș
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Warner Bros. Discovery, the subject of a bidding war between Netflix and Paramount Discovery, reported Thursday that its revenue fell 7% in the fourth quarter, while its earnings before interest, taxes, depreciation and amortization dropped 20%. The quarterly result showed that revenue from WBDâ ... Read more âș
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Companies developing AI models to power humanoid and other robots have been hard at work collecting videos and other data for training their models, even paying people to record themselves completing tasks in homes and workplaces. As these data-collection efforts start to pay off, and robots take on some of those tasks, the robot developers could start prioritizing quality of data over quantity. Thatâs a scenario that Encord, a five-year-old... Read more âș
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Amazon, Alphabet and Meta Platforms in recent months have each turned to the bond markets to raise tens of billions of dollars for their massive investments in AI data centers. And all three are likely to borrow much more in the next couple of years, with their projected capital expenditures now likely to come close to or surpass the cash they generate. How much more can they borrow, without suffering... Read more âș
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DeepSeek didnât give Nvidia or Advanced Micro Devices early access to its upcoming flagship AI model for performance optimization, Reuters reported, citing two people familiar with the matter. DeepSeek, meanwhile, granted domestic chip companies, including Huawei Technologies, a head start of ... Read more âș
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As Amazon weighs a major equity investment in OpenAI, the ultimate size of its commitment could hinge on whether OpenAI goes public or achieves a loosely defined milestone known as artificial general intelligence, The Information reported Wednesday. The proposed Amazon investment is part of ... Read more âș
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OpenAI has hired a high-profile AI researcher at Meta Platforms who had joined the company from Apple about seven months ago, a spokesperson from OpenAI confirmed. Ruoming Pang, who led AI infrastructure for Meta Superintelligence Labs, which is developing new AI models, left the company last ... Read more âș
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Amazonâs decision to invest up to $50 billion in OpenAI could hang on whether OpenAI goes public or reaches a loosely defined milestone known as artificial general intelligence, which generally refers to AI that is on par with human abilities, according to three people involved who have communicated with OpenAI executives. Under the terms of the investment, which are still being negotiated, Amazon would initially invest $15 billion into OpenAI,... Read more âș
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It was a tale of two AI cities when Nvidia and Salesforce on Wednesday reported the January-quarter earnings that ended their 2026 fiscal years. Nvidia kept its place at the top of the class, reporting better than projected 73% revenue growth. Net income rose 94% to $42.9 billion. For the full fiscal year, Nvidia had revenue of $216 billion and net profit of $120 billion, translating to a margin of... Read more âș
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Kalshi, the prediction market site, said Wednesday it had reported Artem Kaptur, a video editor who works for the YouTube star known as MrBeast, to the Commodity Futures Trading Commission for alleged insider trading in violation of company policies. Kalshi said that it has suspended Kaptur from ... Read more âș
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Banking fintech company Chime said it expects to be profitable this year after revealing its revenue growth picked up pace over 2025. The fintech banking company, which publicly listed last June, on Wednesday reported a full year loss of $1 billion due mainly to stock expenses linked to the ... Read more âș
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Nvidia said it has provided $3.5 billion in guarantees to companies leasing land, power and data center facilities, four times the amount it disclosed the previous quarter. The guarantees could help companies without credit ratings, such as AI cloud startups, secure coveted power resources and ... Read more âș
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Shares of Snowflake dropped more than 2% after its fourth-quarter earnings report after the cloud database provider forecast slower revenue growth for its current quarter and fiscal year compared to last year. Still, investors seem to be less concerned about the potential threat AI poses to ... Read more âș
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Salesforce shares fell more than 5% in after-hours trading as the enterprise software firm said Wednesday that revenue in the January fiscal quarter rose 12% to $11.2 billion, including sales from Informatica, a data management firm it acquired late last year. Excluding revenue from Informatica, ... Read more âș
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Nvidiaâs revenue rose 73% to $68.1 billion in the three months ended in January, 11 percentage points higher than the remarkable growth it reported in the November quarter. It also projected even faster revenue growthânearly 77%âin the current fiscal quarter. The results shows Nvidia, the worldâ ... Read more âș
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03.05.2026 07:43
Last update: 07:35 EDT.
News rating updated: 14:32.
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