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August 1, 2024, 11:50 AM
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Top News

Meta:
Meta reports Q2 revenue up 22% YoY to $39B, net income up 73% to $13.5B, and family daily active people up 7% to 3.27B on average for June 2024; META jumps 5%+  —  Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended June 30, 2024.
Alex Heath / The Verge:
On Meta's earnings call, Mark Zuckerberg said Llama 4 will need almost 10x more compute to train than Llama 3.1, Quest 3 sales exceeded expectations, and more
Jonathan Vanian / CNBC:
Meta's Reality Labs posts Q2 revenue up 28% YoY of $353M, vs. $371M est., and a $4.48B operating loss, vs. $4.55B est.; Reality Labs has lost ~$50B since 2020
Allison Johnson / The Verge:
Apple Intelligence in iOS 18.1 beta hands-on: meaningful Siri language understanding improvements and Siri text input is nice, but few other notable features  —  In iOS 18's latest developer preview, Siri gets a glow-up.  Like, the whole phone actually glows around the edges when you invoke Siri.
Brian Steinberg / Variety:
WBD, Disney, and Fox plan to launch their joint sports streaming venture Venu for $42.99 per month initially, with a seven-day free trial, expected in fall 2024  —  Streaming sports on a stand-alone basis won't be cheap. … The service is expected to debut in the fall in conjunction with the start of the next NFL season.
Shirin Ghaffary / Bloomberg:
OpenAI tells US lawmakers that it is “dedicated” to “rigorous safety protocols at every stage of our process” and is working with the US AI Safety Institute  —  OpenAI, responding to questions from US lawmakers, said it's dedicated to making sure its powerful AI tools …
Alex Heath / The Verge:
Reddit CEO Steve Huffman says Microsoft, Anthropic, and Perplexity need to pay to scrape Reddit's data, and blocking them has been “a real pain in the ass”  —  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.
Andrew Romero / 9to5Google:
Telegram rolls out a Mini App Store to help users find apps, a new in-app browser that supports multiple tabs, and says mini apps have 500M+ out of 950M MAUs  —  Telegram is refining the in-app expereince, adding a new way to interact with the browser and a Mini App Store for native applications.
Tom Warren / The Verge:
Discord on Xbox gets the ability to watch friends' Discord streams whether they're sharing from a PC, a phone, or an Xbox, rolling out over the coming weeks  —  Microsoft and Discord are greatly improving the integration of the communication platform into Xbox consoles.
Bloomberg:
Investigation: 2020 to 2023 data shows how thousands of middlemen game the H-1B program and companies that farm out IT workers exploit the US lottery system  —  Each year in April, the US government conducts a lottery that shapes the lives of hundreds of thousands of people — and America's future as an economic power.
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.
Natasha Lomas / TechCrunch:
The EU's AI Act takes effect, triggering compliance deadlines for a range of AI developers and apps; most provisions will be fully applicable by mid-2026  —  It's official: The European Union's risk-based regulation for applications of artificial intelligence has come into force from Thursday, August 1, 2024.
Katie Roof / Bloomberg:
Protect AI, which develops software to help enterprises secure AI models and applications, raised $60M led by Evolution Equity Partners at a $400M valuation  —  The funding round, led by Evolution Equity Partners, values the startup at $400 million.  New investors in the deal include 01 Advisors …
Tales Azzoni / Associated Press:
The Premier League, Bundesliga, DAZN, Sky, UEFA, CONMEBOL, and others write to X CEO Linda Yaccarino demanding more action against illegal soccer content on X  —  Some of Europe's main broadcasters and top soccer leagues have sent a letter to the CEO of social media platform X, Linda Yaccarino …
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.
Jeff Wilser / Wired:
A look at Hamster Kombat, a Telegram “mini-game” with 53M channel subscribers, the most on Telegram; in June 2024, Iran said the crypto game distracted voters  —  In June, Iranian authorities claimed the crypto game was distracting voters during the presidential election.
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 …
Yoolim Lee / Bloomberg:
Staff memo: Samsung's chip business head Jun Young-hyun warns Samsung risks getting into a “vicious cycle” if the company does not revamp its workplace culture  —  - Jun Young-hyun replaced his predecessor just a few months ago  — It's trying to catch SK Hynix in the hot AI memory chip market
More: KED Global
Bart Meijer / Reuters:
The European Commission unconditionally approves HPE's $14B takeover of networking gear maker Juniper Networks after finding no competition concerns  —  The EU Commission on Thursday said it had unconditionally approved the $14 billion takeover of networking gear maker Juniper Networks (JNPR.N) by Hewlett Packard Enterprise (HPE.N).

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This is a Techmeme archive page. It shows how the site appeared at 11:50 AM ET, August 1, 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

New Jersey Digest:
The Star-Ledger, New Jersey's largest newspaper, plans to end its print edition on January 30, 2025, citing growing costs and a shrinking demand for print

Sarah Scire / Nieman Lab:
A broad group of news outlets attracted new subscribers after WaPo's lack of an endorsement for president; The Philadelphia Inquirer gained 4,200+ subscribers

Upmanyu Trivedi / Bloomberg:
Google faces increasing legal challenges from Russia and fines in non-US courts, after YouTube blocked three Russian channels following the invasion of Ukraine

More News

Earlier Picks

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%+
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
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
Krisztian Sandor / CoinDesk:
Tether reports a “record” $5.2B net profit in H1 2024, net operating profit of $1.3B in Q2, and $97.6B US debt holdings, more than Germany and other countries
Aaron Holmes / The Information:
Source: TikTok was paying Microsoft ~$20M/month to use OpenAI's models in Azure OpenAI Service as of March, ~25% of the total revenue the service was generating
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
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