Shein’s revenue reached nearly $10 billion in the first quarter of this year, Bloomberg reported, with net income of more than $400 million. That helped boost the fast-fashion giant’s profit margins to roughly 5%, the report said. Shein said in a statement to Bloomberg “the data is inaccurate” ... Read more ›
0
Tesla launched a ride-hailing service in the San Francisco Bay Area on Thursday, featuring humans in the vehicles’ drivers seats operating a version of its driving software. While Tesla CEO Elon Musk has said Tesla will offer a self-driving “Robotaxi” service to half of the U.S. population this ... Read more ›
0
Microsoft’s market capitalization exceeded $4 trillion for the first time on Thursday after the company reported better-than-expected cloud growth in the three months ending in June. Microsoft stock was up more than 4% from the day prior, and is up by more than 28% over the past year. Microsoft ... Read more ›
8
Subscribers to Comcast’s Peacock streaming service remained flat at 41 million during the second quarter when compared to the prior quarter. And while revenues for Peacock continue to grow, it isn’t completely offsetting ongoing declines in NBCUniversal’s domestic TV advertising business. ... Read more ›
0
Lately, investors have been eager to back cloud startups that provide application developers with access to Nvidia graphics processing units and help them to develop and run AI models quickly. The investor interest comes despite questions about the profit margins of these startups, otherwise known as cloud GPU resellers or inference providers.In a previously unreported example, Modal, a New York City-based inference provider, is in talks to raise roughly $75... Read more ›
3
Klarna, the Swedish installment lender, is considering reviving its potential New York initial public offering as soon as September as shares in U.S. fintech companies surge, Sky News reported. Klarna filed for its IPO in March and was seeking to raise at least $1 billion at a valuation of more ... Read more ›
0
The UK’s top antitrust regulator ruled on Thursday that Microsoft and Amazon hold dominant positions in the cloud computing market and should be the subject of a formal investigation. The regulator’s findings came after a yearslong probe into competition in the cloud market, and found that both ... Read more ›
0
When Google’s billionaire co-founder, Sergey Brin, needs something done at the company’s artificial intelligence unit—AI chips allocated to a team, a researcher hired, an employee moved to a new department—there’s one person he messages: Koray Kavukcuoglu. Kavukcuoglu isn’t Google’s flashiest AI leader, though he’s the chief technology officer of its AI unit, Google DeepMind, and the chief AI architect for the entire company. He lacks the celebrity of Brin and... Read more ›
33
China’s internet regulator, the Cyberspace Administration of China, said it summoned Nvidia on Thursday to discuss alleged security risks with its H20 chips. The regulator’s move comes in response to a bill introduced by U.S. lawmakers in May, which requires location verification for artificial ... Read more ›
0
OpenAI has reached $12 billion in annualized revenue, nearly double its pace at the beginning the year, The Information reported Wednesday. The rise suggests the company will be able to hit is projections of generating $12.7 billion in revenue this year. The growth comes as the company ... Read more ›
0
OpenAI roughly doubled its revenue in the first seven months of the year, reaching $12 billion in annualized revenue, according to a person who spoke to OpenAI executives. That figure implies the ChatGPT maker is generating $1 billion a month, compared to about $500 million a month at the start of the year. The growth comes as the company logs roughly 700 million weekly active users for its ChatGPT products... Read more ›
49
For big tech, business is booming. That’s good, because their costs are also skyrocketing. Microsoft and Meta Platforms both reported better than projected June-quarter earnings on Wednesday, sending stocks of the two leaping 9% and 11.7%, respectively, in after-hours trading. But there may well be a reckoning, as both companies projected sizable increases in spending on artificial intelligence in the next year.Right now, though, investors and company executives are celebrating.... Read more ›
9
Artificial intelligence was the star of Meta Platforms’ second-quarter earnings call on Wednesday. Meta’s long-term path to making money from AI is fuzzy. But right now, some of the most material benefits from Meta’s investments in AI are improvements to “ranking,” or how the company shows users relevant content on its social media apps. That, in turn, is boosting how much time users spend on those apps. Read more ›
0
Figma priced its IPO at $33 a share on Wednesday, giving it a $19.3 billion valuation on a fully-diluted basis, and making it one of the most valuable company backed heavily by venture capitalists to go public in years. The company’s stock will start trading Thursday. The pricing means Figma ... Read more ›
0
Meta Platforms on Wednesday reported second-quarter revenue of $47.5 billion, up 22% from a year earlier. That exceeded its own forecast of $42.5 billion to $45.5 billion, showing the strength of its digital advertising business and sending its shares up as much as 11% in after-hours trading. ... Read more ›
0
Microsoft’s revenue growth accelerated to 18% in the three months ending in June, driven by stronger-than-expected sales in its Azure cloud computing unit, the company said on Wednesday. Revenue in Azure grew 39%—a significantly higher rate than the roughly 34-35% growth the company had ... Read more ›
0
Apple officially responded to the U.S. Department of Justice’s antitrust lawsuit, saying the agency’s case seeks to “degrade the privacy and security benefits of iPhone” and would “eliminate” the iPhone’s competitive differentiation. “This lawsuit threatens the very principles that set iPhone ... Read more ›
0
Artificial intelligence that handles complex tasks with minimal human oversight, also known as an agent, is creating a bevy of security holes that require plugging.The problem: Tools to protect companies against the risks posed by the newfangled AI don’t exist yet, according to cybersecurity sellers, investors and IT executives. Read more ›
3
JPMorgan Chase and Coinbase signed an agreement to directly link customers’ bank accounts to their cryptocurrency wallets, a move that could undercut data aggregators between banks and companies. Under the new deal, which is expected to go into effect next year, customers can also fund Coinbase ... Read more ›
0
Amazon will pay the New York Times between $20 million and $25 million in cash each year to license its content for AI, the Wall Street Journal reported. That sum is equal to roughly 1% of the Times’s 2024 revenue. Under the deal, which was first announced in May, Amazon can use the Times’s ... Read more ›
0
Most popular sources
Business Insider
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27% 13 |
Tom's Hardware
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12% 6 |
Slashdot
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10% 7 |
Mashable
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8% 6 |
Gizmodo
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7% 3 |
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03.11.2025 09:25
Last update: 09:20 EDT.
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