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July 23, 2024, 8:05 PM
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Top News

Bloomberg:
Meta debuts Llama 3.1 405B, the “first frontier-level open source AI model”, as well as new Llama 3.1 70B and 8B models, and says it's working on Llama 4  —  The Meta CEO defends both his open source strategy and a massive investment in artificial intelligence.
Mark Zuckerberg / Meta:
Mark Zuckerberg argues that “open source AI” is the path forward, closed models are vulnerable to vendor lock-in and state-backed espionage, and more  —  In the early days of high-performance computing, the major tech companies of the day each invested heavily in developing their own closed source versions of Unix.
The Information:
Sources: Apple is working on a foldable, clamshell-design iPhone that could debut as soon as 2026, and reached out to Asian component suppliers in recent months  —  Apple is working on a foldable iPhone that could be released as early as 2026 and in recent months reached out to suppliers …
Alphabet:
Alphabet Q2: revenue of $84.7B, up 14% YoY, net income of $23.6B, up 29% YoY, Search revenue of $48.5B, up from $42.6B YoY, and headcount down 1% to 179,582  —  MOUNTAIN VIEW, Calif. - July 23, 2024 - Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2024.
Jennifer Elias / CNBC:
Google Cloud Q2 revenue grew 29% YoY to $10.35B, vs. $10.2B est.; Cloud exceeded $10B in quarterly revenues and $1B in operating profit for the first time  —  Google parent company Alphabet reported earnings after the bell Tuesday.  —  Here's how the company did, compared with estimates from analysts polled by LSEG:
Jennifer Elias / CNBC:
Alphabet reports Other Bets Q2 revenue of $365M, up from $285M in Q2 2023, a $1.13B loss, up from $813M, and announces a “multiyear” investment of $5B in Waymo
Danny Nelson / CoinDesk:
dYdX says v3, an older version of its DeFi crypto exchange that is reportedly for sale and averages ~$1.5B/week in derivatives trading, “has been compromised”  —  News of the problem emerged just as Bloomberg reported dYdX v3 is for sale.  —  Decentralized crypto-exchange giant dYdX …
Abner Li / 9to5Google:
Leaked images show the upcoming “Google TV Streamer”, a set-top box with a pill-shaped design, to replace the dongle form factor, and an updated, longer remote  —  Back in April, we revealed that Google is working on a sequel to the Chromecast with Google TV (4K) …
CNBC:
Israeli cybersecurity startup Wiz walks away from Google's $23B acquisition offer; Wiz CEO Assaf Rappaport tells staff that Wiz will pursue an IPO as planned
Suzanne Smalley / The Record:
The US FTC seeks info from Mastercard, Accenture, and six other companies related to their “surveillance pricing products” that use personal data, AI, and more  —  The Federal Trade Commission (FTC) announced Tuesday that it has launched an inquiry into how companies surveil consumers …
Andy Greenberg / Wired:
Dragos details a sample of Russia-linked malware used in a hack in January 2024 to target a heating utility in Lviv, Ukraine, cutting service to 600 buildings  —  The code, the first of its kind, was used to sabotage a heating utility in Lviv at the coldest point in the year …
Jess Weatherbed / The Verge:
Adobe rolls out new Illustrator features like Generative Shape Fill, powered by its latest Firefly Vector model now in beta, and new and updated Photoshop tools  —  Adobe is introducing some new tools and generative AI features to its Illustrator and Photoshop design software that aim to help speed up creative workflows.
Todd Spangler / Variety:
Amazon begins rolling out a new UI for Prime Video to help distinguish content included with Prime, update its navigation bar, manage subscriptions, and more  —  And the new UI specifically addresses something that's annoyed Prime Video users for years: Now, according to Amazon …
Mariella Moon / Engadget:
Meta plans to roll out its AI assistant to the Quest in August, limited to US and Canada users in experimental mode, after debuting on the Ray-Ban smart glasses  —  The experimental version of the AI assistant will make its way to Quest headsets in August.  —  Meta's AI-powered assistant …
Ashley Carman / Bloomberg:
Spotify reports Q2 revenue up 20% YoY to €3.8B, MAUs up 14% YoY to 626M, subscribers up 12% YoY to 246M, above est., and €266M operating income; SPOT jumps 12%+  —  Spotify Technology SA shares surged to their highest in more than three years on Tuesday after the Swedish audio …
Chris Morris / Fortune:
Netflix last week reported it is developing 80 games, most “interactive narrative games” based on its IP, and will debut one a month; Netflix offers 100+ games  —  Netflix could be on its way to becoming one of the most prolific video game publishers in the industry.
Bloomberg:
US spot ether ETFs hit over $1B in trading volume across nine funds, a strong debut, but far from the $4.6B traded during the spot bitcoin ETFs debut in January  —  - Trading volume still trailed amount posted by Bitcoin ETFs  — Debuts for two of the funds rank among some of the best ever
Reuters:
Sources: Samsung's HBM3 chips have been cleared by Nvidia for use in its H20 GPU, developed for the Chinese market; HBM3E chips are still being tested  —  Samsung Electronics' (005930.KS) fourth-generation high bandwidth memory or HBM3 chips have been cleared by Nvidia (NVDA.O) …
More: Asia Times

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This is a Techmeme archive page. It shows how the site appeared at 8:05 PM ET, July 23, 2024.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Benjamin Mullin / New York Times:
Memo: WaPo CEO Will Lewis tells staff they'll be expected to work from the office five days a week, instead of three, by June 2, and by February 3 for managers

Dade Hayes / Deadline:
In an earnings call, David Zaslav says the Trump Administration may be more merger friendly, enabling a “real positive and accelerated impact on this industry”

Taylor Lorenz / User Mag:
How conservatives nurtured and funded a vast network of online influencers and creators, and how structural disadvantages prevent the left from replicating it

More News

Benjamin S. Weiss / Courthouse News Service:
US Senate Majority Leader Chuck Schumer says the Senate will take up the Kids Online Safety Act this week, signaling there's enough support among his colleagues

Earlier Picks

Michael Peel / Financial Times:
Google Research and others detail NeuralGCM, a model combining ML and weather forecasting tools that produced a breakthrough in accurate long-range predictions
Reuters:
India plans to cut import duty on mobile phones and some key parts from 20% to 15%, a move that will directly benefit Apple, as part of its 2024/2025 budget
Bloomberg:
An investigation shows how pedophiles groom children using Roblox, a problem exacerbated by Roblox not collecting any personal information beyond a user's age
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