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August 1, 2024, 4:00 AM
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Meta Q2: revenue up 22% YoY to $39.07B, net income up 73% to $13.47B, family daily active people up 7% to 3.27B on average for June; META jumps 5%+ after hours — Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended June 30, 2024.
More: Al Jazeera, UploadVR, Constellation Research, Proactive, The Hollywood Reporter, Quartz, SiliconANGLE, Shacknews, The Wrap, The Information, Wall Street Journal, Yahoo Finance, CNBC, and Cointelegraph
Threads: @karissabe, @supremebagholder, @jonathan_vanian_1, and @kurtwag8
X: @chrisfralic, @supbagholder, @stockmktnewz, @firstadopter, @tidefallcapital, @ldignan, @munster_gene, @munster_gene, @firstadopter, @munster_gene, @edludlow, @munster_gene, @munster_gene, @joecarlsonshow, @mikeisaac, @rihardjarc, @altcap, @munster_gene, and @munster_gene. LinkedIn: Emil Protalinski. Facebook: Mark Zuckerberg
| Alex Heath / The Verge: |
More: CNBC, Benzinga, The Register, TechCrunch, Associated Press, Android Central, and PYMNTS.com
Threads: @mostly.borrowed.ideas, @karissabe, @alexheath, and @karelbaloun
X: @jimcramer, @alexeheath, @bluechipdaily, @the_ai_investor, @benitoz, @andrewcurran_, @andrewcurran_, and @ericjhonsa. Facebook: Mark Zuckerberg. Forums: r/technology
| Jonathan Vanian / CNBC: |
More: Yahoo Finance, Shacknews, and Variety
Threads: @daveleebbg. X: @rjcaster, @yasminkhorram, @ballmatthew, @levynews, @munster_gene, @benz145, and @rebrand_as_y
LinkedIn: Matt Mickelson and Rafael Brown
Forums: r/technology and r/technews
| Sergiu Gatlan / BleepingComputer: |
Microsoft says that a nine-hour outage on July 30, which disrupted multiple Microsoft 365 and Azure services worldwide, was triggered by a DDoS attack — Microsoft confirmed today that a nine-hour outage on Tuesday that took down and disrupted multiple Microsoft 365 and Azure services worldwide …
More: Azure, BBC, ZDNET, The Record, GovTech, The Information, Dark Reading, Security Boulevard, SC Media, Associated Press, Daily Mail, The Sun, The Independent, The Stack, Infosecurity, Cybersecurity Dive, PCMag, Channel Futures, Forbes, Windows Central, PCWorld, The Register, Silicon Republic, TechRadar, and SecurityWeek
| CNBC: |
Delta Air Lines CEO Ed Bastian says the CrowdStrike-caused outage will cost the company $500M, after canceling 6,000+ flights, and Delta will seek damages — WATCH NOW — Delta Air Lines CEO Ed Bastian said Wednesday that the massive IT outage earlier this month that stranded thousands of customers will cost it $500 million.
More: CNBC, Bloomberg, Associated Press, Cyber Daily, CIO Dive, CRN, The Hill, The Information, Quartz, NPR, New York Post, CRN, San Francisco Business Times, NBC News, PYMNTS.com, Windows Central, MSPoweruser, and Financial Times
X: @david_slotnick, @morningbrew, @kpottermn, @kpottermn, @kpottermn, @malwarejake, @0xtib3rius, @carnage4life, and @carnage4life. LinkedIn: Jacob Williams. Forums: r/wallstreetbets
| Alex Heath / The Verge: |
Reddit CEO says Microsoft, Anthropic, and Perplexity need to pay to scrape the site's data, and it has been “a real pain in the ass to block these companies” — After striking deals with Google and OpenAI, Reddit CEO Steve Huffman is calling on Microsoft and others to pay if they want to continue scraping the site's data.
More: Ars Technica, Windows Central, Bloomberg, Neowin, and Engadget
Forums: r/OpenAI, r/technology, and Ars OpenForum
| Ian King / Bloomberg: |
Qualcomm reports Q3 revenue up 11% YoY to $9.39B, vs. $9.21B est., handset chip sales up 12% YoY to $5.9B, and forecasts Q4 revenue above estimates — - Company says phone units will be ‘flattish’ this year — Upbeat revenue forecast had buoyed stock after earnings report
More: Reuters, Constellation Research, Nikkei Asia, Investor's Business Daily, CNBC, and Benzinga
X: @benbajarin, @anshelsag, @beth_kindig, and @patrickmoorhead
| Wesley Yin-Poole / IGN: |
Bungie says it will lay off 220 employees, or 17% of its workforce, and integrate an additional 155 roles into its parent company Sony Interactive Entertainment — “Today is a difficult and painful day.” — Destiny developer Bungie has today announced significant cuts at the studio …
More: Bungie.net, The Verge, Kotaku, Seattle Business Journal, Windows Central, Game World Observer, Press Start, Stevivor, Dexerto, Kotaku, Android Headlines, Push Square, Engadget, Eurogamer.net, VG Charts, VG247, Game Informer, Hardcore Gamer, Metro.co.uk, Los Angeles Times, GamesRadar, GamesRadar, The Wrap, TechCrunch, Neowin, Game Rant, Gameranx, Pocket-lint, GamingBolt, VentureBeat, Aftermath, Rock, Paper, Shotgun, Polygon, GeekWire, KitGuru, PC Gamer, Wccftech, TechRaptor, XboxEra, Variety, Game Developer, Destructoid, The Hollywood Reporter, Digital Trends, Pure Xbox, GamesIndustry.biz, Dot Esports, GameSpot, Video Games Chronicle, and Kotaku
X: @jasonschreier, @d2cbro, @a_dmg04, @transientgamers, @the_ragespy, @bungie, @griffinwb, @nadiaudio, @fishprison, @mynameisbyf, @dirtyeffinhippy, @hazelmonforton, @amberillig, @niftybiiscuit, @dirtyeffinhippy, @mangalawyer, @vahn16, @alex_frostwolf, @genepark, @ne0mega, @kperng, and @thereallexuzi. Forums: r/pcgaming
| Tom Warren / The Verge: |
Discord on Xbox adds the ability to watch friends' Discord streams whether they're sharing from a PC, mobile phone, or Xbox, rolling out over the coming weeks — Microsoft and Discord are greatly improving the integration of the communication platform into Xbox consoles.
More: Discord Blog, Xbox Wire, Windows Central, Video Games Chronicle, Press Start, Insider Gaming, XboxEra, Shacknews, Eurogamer.net, Game Rant, Neowin, Pure Xbox, Thurrott, PC Gamer, Gizmodo, PCMag, IGN, and Dexerto
| Jonathan Kemper / The Decoder: |
Google unveils updates to its Gemma family of open models, including Gemma 2 2B, which it claims surpasses GPT-3.5 and Mixtral 8x7B on the LMSYS Chatbot Arena — Google has unveiled updates to its Gemma 2 family of open-source language models, focusing on improved performance, safety, and transparency.
More: Google Developers Blog, TechCrunch, VentureBeat, SiliconANGLE, Maginative, AIM, Hugging Face, TNW, and NewsBytes
X: @lmsysorg, @reach_vb, @googledeepmind, @chris_j_paxton, @gblazex, @googledeepmind, and @googledeepmind
LinkedIn: Wenjun Zeng and Ludovic Peran
| Ian King / Bloomberg: |
Arm reports Q1 revenue up 39% YoY to $939M vs. $905.4M est., license and other revenue up 72%, and maintains its outlook for FY 2025; ARM drops 10%+ — - Company doesn't boost outlook despite topping earnings views — CEO says weakness in certain markets is offsetting sales gains| Sean Lyngaas / CNN: |
A ransomware attack hits blood donation nonprofit OneBlood, which has asked over 250 hospitals in the US to activate their critical blood shortage protocols — A cyberattack has hit a blood-donation nonprofit that serves hundreds of hospitals in the southeastern US.| Anna Washenko / Engadget: |
US senators unveil the bipartisan NO FAKES Act, which would make individuals and companies liable for producing, hosting, or sharing unauthorized AI deepfakes — OpenAI joined several entertainment industry groups in backing the NO FAKES Act. — Today, a group of senators introduced the NO FAKES Act … | Krisztian Sandor / CoinDesk: |
Tether reports “record” net profit of $5.2B in H1 2024, net operating profit of $1.3B in Q2, and US debt holdings of $97.6B, more than countries like Germany — The company said its $97 billion exposure to U.S. Treasuries would put it 18th in the ranking among countries.| Aaron Holmes / The Information: |
Source: TikTok was paying Microsoft ~$20M/mo. to use OpenAI's models in Azure OpenAI Service as of March, ~25% of the total revenue that service was generating — Microsoft has had success reselling OpenAI's artificial intelligence to its cloud customers, a core part of its plan to build a new multibillion-dollar profit machine.
More: Sherwood News, Quartz, The Verge, Invezz, and DatacenterDynamics
| Joe Miller / Financial Times: |
The US SEC sues former IRL CEO Abraham Shafi, accusing him of a $170M fraud by misleading investors about the company's growth and concealing personal expenses — Abraham Shafi allegedly hoodwinked backers and spent millions of dollars on personal expenses — NEW| Akash Sriram / Reuters: |
eBay reports Q2 revenue up 1% YoY to $2.57B, vs. $2.53B est., GMV up 1% to $18.4B, net income up 31% to $226M, and forecasts Q3 revenue below estimates — EBay (EBAY.O) forecast third-quarter revenue below Wall Street estimates on Wednesday, a sign that demand is slowing down for collectible items, luxury handbags and watches.| New York Times: |
Reid Hoffman, Vinod Khosla, Mark Cuban, Ron Conway, Chris Sacca, and 100+ other VCs pledge to vote for Kamala Harris and solicit donations for her campaign — The group, including Democratic donors such as Reid Hoffman and Vinod Khosla, has been organized under an effort called VCsForKamala.
More: VCs for Kamala, Forbes, CNBC, AfroTech, Politico, San Francisco Business Times, Quartz, Daily Press, TechCrunch, The Verge, GeekWire, The Hill, and The Information
Threads: @moskov, @amclaughlin, @moskov, @moskov, @anildash, @timisenman, @motorcityadam, @hunterwalk, and @theromit
X: @lesliefeinzaig, @vcsforkamala, @levie, @reidhoffman, @almostmedia, @jtlonsdale, @lesliefeinzaig, @ronconway, @joshconstine, @nihalmehta, @levie, @brianbrackeen, @lesliefeinzaig, @suzmargo, @rednieves, @jeremysliew, @robertwolf32, @dfirgs, @candicecincy, @lesliefeinzaig, and @teddyschleifer. LinkedIn: Mariano Amartino. Forums: r/politics
| Kyle Wiggers / TechCrunch: |
OpenSecrets: the number of groups lobbying the US government on AI grew from 459 in 2023 to 556 in H1 2024; OpenAI spent $800K in H1 2024, vs. $260K in 2023 — AI lobbying at the U.S. federal level is intensifying in the midst of a continued generative AI boom and an election year that could influence future AI regulation.| Bloomberg: |
While owning less than 1% of TSMC, the number of retail shareholders hit a new high in 2024, as locals believe TSMC's success helps Taiwan fend off China — - Chipmaker is dubbed ‘holy mountain that safeguards the nation’ — Number of retail shareholders has reached a record this year
LinkedIn: John Cheng
| Bloomberg: |
A look at Baidu's experiment with driverless taxis in Wuhan, which became China's biggest proving ground for Baidu's taxis due to a relaxed regulatory approach — Wuhan's experiment with driverless taxis could help China lead the world on the emerging technology. It also risks putting thousands of people out of work.| Michael Hennessey / Bloomberg: |
Delivery Hero plans to merge two of its European businesses, Foodora and Yemeksepeti, with its Asian business, Foodpanda, and cut fewer than 200 employees — - Fewer than 200 employees will be affected by the merger — A previous deal to sell some of the Asian business fell apartSponsor Posts
Meta:
Open Source AI: Available to all, not just the few — Meta's open source AI enables small businesses, start-ups, students, researchers and more to download and build with our models at no cost.
Open Source AI: Available to all, not just the few — Meta's open source AI enables small businesses, start-ups, students, researchers and more to download and build with our models at no cost.
Tribe AI:
Build AI products that matter — Tribe AI helps organizations rapidly deploy AI solutions that have real business impact. We bring together world class AI talent and tooling to drive differentiated results.
Build AI products that matter — Tribe AI helps organizations rapidly deploy AI solutions that have real business impact. We bring together world class AI talent and tooling to drive differentiated results.
Zoho:
5 common accounting mistakes — This is a guest post by Yaali Bizappln Solutions. A lot of businesses manage their customers and finances on separate platforms. This disconnect often leads to missed invoices …
5 common accounting mistakes — This is a guest post by Yaali Bizappln Solutions. A lot of businesses manage their customers and finances on separate platforms. This disconnect often leads to missed invoices …
Hamming:
Make AI Voice Agents trustworthy — Hamming AI automatically tests AI voice agents and continuously monitors them in production.
Make AI Voice Agents trustworthy — Hamming AI automatically tests AI voice agents and continuously monitors them in production.Who's Hiring In Tech?
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