Meta Platforms’s operating profit fell 8% in the second quarter, despite 28% revenue growth, reflecting a sharp increase in costs relating to Meta’s AI investments and some one-time costs. Meanwhile Meta CEO Mark Zuckerberg signalled that Meta was weighing whether to rent out excess computing capacity, noting on a conference call “we are getting a lot of offers for compute at a premium over

Microsoft revenue rose 18% to $90 billion in the June quarter, the same growth rate it reported in the first quarter, according to its quarterly earnings report. AI-related sales growth was tempered by revenue declines in its Xbox and Windows device businesses. Still, Microsoft touted more than 30 million paid subscriptions to its Copilot AI features for Office 365 applications, up from 20

Lilian Weng, a researcher who cofounded AI startup Thinking Machines Lab alongside former OpenAI Chief Technology Officer Mira Murati, is rejoining OpenAI after announcing her departure from Thinking Machines earlier this week, an OpenAI spokesperson confirmed to The Information. She will be working on using AI models to develop new models, otherwise known as recursive self-improvement research,

Shopify stock jumped 18% on Wednesday morning after the ecommerce software service reported better than projected 34% revenue growth for the second quarter. While the growth rate was in line with Shopify’s first quarter, the company had projected revenue growth would slow to the “high twenties” in percentage terms. At the same time, Shopify’s operating income rose 68% to $488 million.

Advanced Micro Devices’ revenue in the second quarter rose 50% from a year ago to $11.5 billion and net profit grew even faster, the company said Tuesday. The figures beat analysts’ expectations, as did AMD’s projection of about $13 billion in revenue for the current quarter. That compared to consensus estimates of $12.5 billion, according S&P Capital IQ. Still, AMD’s stock—which has

Last August, a co-founderof Reflection AI flew to California to meet Nvidia CEO Jensen Huang. The tech magnate persuaded him to drop the fledgling startup’s efforts to make an AI coding tool, said someone familiar with the meeting, and shift to something that at the time seemed more novel: ...

In the financial model that governs the AI data center build-out, one of the most important questions is who the tenant will be. The goal is to ensure that demand from big cloud firms and AI labs for computing capacity—and their ability to pay—will line up with supply as trillions of dollars ...

In June, data labeling startup micro1 approached Robby Hogle, CEO of a heating, ventilation and air conditioning company in Troy, Mich., with a proposition: why not learn how to use AI in his business and get paid for it?Hogle had already been doing some work for micro1 as a side hustle. Hogle, ...

If Stripe ends up buying three-year-old startup OpenRouter for close to $10 billion, the payments firm would be paying a substantial premium of about 70 times the startup’s recent annualized revenue, according to a person with knowledge of OpenRouter’s financials. OpenRouter, which helps app ...

Taiwan Semiconductor Manufacturing Co., the world’s largest chip manufacturer, said it is gradually resuming operations at its plant in southern Japan after a magnitude 7 earthquake struck the region on Tuesday. TSMC said in a statement that the structures of the buildings are safe, but it is still conducting detailed inspections and impact assessments. It is unclear whether there have been

The U.S. government announced a ban on the imports of new foreign-made humanoid robots, which are mostly from China, citing national security risks. The move reflects Washington’s growing concerns about China’s critical role in the global robotics industry and its supply chain. China currently accounts for the vast majority of the world’s humanoid production. The Federal Communications

OpenAI’s chatbot is on the precipice of having 1 billion weekly active users, a milestone the company was hoping to hit by the end of last year, according to information the company has shared internally. Though the milestone comes seven months after the company originally expected to hit it, ...

PayPal has a message for Wall Street and would-be buyers: “We got this.” That’s the upshot of CEO Enrique Lores’ response to what he called “recent M&A speculation”—also known as Stripe’s reported $53 billion takeover bid for the struggling payments firm. Lores wouldn’t comment about anything ...

More than 1,100 senior executives and other employees at leading AI companies signed a letter asking the U.S. government to “support an international effort to develop the technical and governance tools needed to deliberately pace the frontier of automated AI development.” Signatories of the letter, published on Tuesday and endorsed by Anthropic and OpenAI, included Anthropic CEO Dario Amodei,

OpenAI said it is cutting prices on two of its newest models weeks after their release, as AI companies respond to customer concerns about surging bills for their services. The changes, effective Thursday, affect two of the three GPT-5.6 models that OpenAI released broadly on July 9, the company said. OpenAI cut the application programming interface prices for Luna, the lowest-tier version, by

Jump Capital, the venture capital firm backed by the founders of quant-trading firm Jump Trading, has raised a new fund of $350 million, Jump Capital co-founder and partner Sach Chitnis told me. The Chicago-based firm will use the new money to expand its investments in AI startups.The fund is ...

Cursor, the pioneering AI coding app, is growing pretty well ahead of SpaceX’s planned $60 billion purchase. But the company, which provides access to different AI models for coding work, last yearshifted to charging more customers based on usage rather than flat rate subscriptions, and the move ...

Data backup and recovery software firm Commvault’s stock slid 16% in the hours following its announcement that its revenue growth slowed to 11% year-over-year, representing $314 million in sales, in the July quarter compared to a year-over-year rate of 13% in the previous quarter. Still, Commvault’s stock is up 2% for the year so far, outperforming the iShares software ETF, IGV, which is down 10%

Spotify reported 14% higher revenue, driven by 9% growth in the number of paying subscribers, while the music streaming service’s ad business continued to lag. Spotify said ad revenue rose just 1% in the quarter, which is an improvement on the past three quarters where ad revenue fell as much as 6%. Spotify co-CEO Alex Norstrom told analysts on a conference call that the results of Spotify’s

Italian conglomerate Bending Spoons agreed to buy once high-flying productivity startup Airtable for $1.285 billion, a steep haircut to its last valuation of $11 billion in 2021. Founded in 2012, Airtable raised more than $1.3 billion from venture investors including Benchmark and Thrive Capital. The sale price likely means its investors barely got back their money. Airtable is one of The