Meta Platforms raised its 2026 capital spending forecast again, underscoring rising infrastructure costs as it continues to scale its artificial intelligence and data center investments. The parent company of Facebook, Instagram and WhatsApp announced the increase Wednesday as it reported first-quarter revenue of $56.3 billion, up 33% from a year earlier and just shy of the upper end of its

Alphabet reported a 22% jump in revenue and strong profit growth in the first quarter, beating analyst expectations as AI drove sales increases across its cloud and search businesses. The Google parent company also increased its estimated capital spending—which overwhelmingly goes to data centers and other AI equipment—to between $180 billion and $190 billion as a result of its acquisition of

The European Commission said Meta Platforms failed to prevent children under 13 from accessing its Instagram and Facebook services as it is required to do, potentially breaching the region’s law. In preliminary findings from its nearly two-year investigation, the EU said on Wednesday that both platforms may be in breach of the Digital Services Act for not effectively enforcing safeguards to

PayPal is reorganizing its corporate structure to make Venmo a standalone business unit, CNBC reported Wednesday, making it easier to sell off. Venmo is considered to be the most valuable part of PayPal’s business because of its consumer base of around 100 million and its growth potential. PayPal shares have declined nearly 80% over the past five years, and competitors like rival fintech

The CEO of T-Mobile, which is the only mobile network in the U.S. to offer SpaceX’s Starlink Mobile for backup service in areas not served by cell towers, says the service is seeing “a lot less usage” than it originally expected. Gopalan made the remark on T-Mobile’s earnings call with analysts on Tuesday, crediting T-Mobile’s chief technology officer John Saw with creating a strong network

OpenAI is banking on subscribers to a cheaper, ad-supported ChatGPT subscription will drive revenue from advertising over the next several years, The Information reported late Tuesday. Earlier this year, OpenAI forecast that consumer subscribers to ChatGPT Go, which costs $8 a month in the U.S. and around $5 monthly in other countries such as India, would surge about 36 times to 112 million

Meta is launching stablecoin payouts for creators, using Stripe as its payment provider, according to its webpage. Meta is offering Circle’s stablecoin on the Solana and Polygon blockchain to pay out creators, starting with those in Colombia and Philippines, the webpage shows. Once creators receive the stablecoins, they are advised to convert them into local currency by using a local crypto

SpaceX’s Starlink satellite internet service quadrupled its individual subscribers between 2023 and 2025—but the average revenue each subscriber brought in fell 18% to $81 a month in that period, a draft version of SpaceX’s initial public offering prospectus shows. The decline in Starlink’s ARPU ...

Bankers and investors, especially when they are sitting in front of an audience, are not shy about offering their opinions. Yet when I asked a panel of money types at our Financing the AI Revolution conference on Monday about risks in the current market, I got near silence.We had been discussing ...

Blackstone is folding its growth equity business into a new unit called BXN1 that will focus on AI-related investment, according to an internal memo reviewed by The Information. Jas Khaira, Blackstone’s head of Americas for tactical opportunities, will relocate from New York to San Francisco to oversee the new fund, and continue to lead its tactical opportunities business. Jon Korngold, the

AI developers have been desperately scrambling to get ahold of Nvidia server chips lately, as we wrote last week. When developers do get the graphics processing units, they’re under a lot of pressure to wring as much performance as possible from that expensive hardware.That’s easier said than ...

If there was ever a time to be buying cybersecurity stocks such as CrowdStrike and Palo Alto Networks, this would be it. A spate of hacks has hit high-flying startups this month, including data-labeling firm Mercor and software development company Vercel. Also this month, Anthropic announced it ...

Benchmark’s investment in the startup behind the AI agent Manus drew flack last year from some venture capitalists who viewed the investment in the company, which was founded in Beijing, as a national security risk. But when Meta said in December that it was buying the startup, called Butterfly ...

Talk about out of touch with reality. Investors slammed the tech sector on Tuesday, spurred in part by a Wall Street Journal report that OpenAI had missed some internal revenue projections. Among the biggest to take a hit were two cloud firms that depend heavily on OpenAI for business: Oracle ...

After two years, myriad legal filings and countless Tweets, Elon Musk had the chance Tuesday to air his anger at OpenAI in court. The world’s richest man, who is claiming OpenAI breached a charitable trust, used his testimony to drive home his argument that the case will set precedent for whether and how nonprofits can be turned into businesses. Under friendly questioning from his lawyer,

For three years, OpenAI has generated most of its revenue from people paying $20 a month for subscriptions to ChatGPT. This year, it is forecasting a massive shift, expecting a cheaper, ad-supported tier will both draw new users and cause tens of millions of its paying subscribers to downgrade, ...

Robinhood shares fell more than 6% in after-market trading after reporting a 47% plunge in crypto trading revenue from a year ago. Despite the slump, record volumes in prediction markets lifted Robinhood’s total revenue 15% to $1.07 billion. The result shows individual traders that use Robinhood are shifting from crypto to investing in other asset classes. Robinhood said event contracts

Spotify stock dropped 13% after the music streaming service reported 8% revenue growth for the first quarter but forecast a slowdown in its premium subscriber growth rate for the second quarter. Excluding the impact of foreign exchange movements, Spotify’s revenue grew 14%. Spotify recently raised prices, and there are signs that could be affecting subscriber growth. The expansion in the

OpenAI models will finally be available on Amazon Web Services, the companies said Tuesday, a day after OpenAI and Microsoft announced new terms in their long-standing partnership that freed other cloud providers to sell OpenAI’s models with fewer restrictions. OpenAI’s 5.4 model is now available in limited preview on AWS and 5.5, the latest model, will be available in the coming weeks , AWS

Amazon Web Services has been in the spotlight this week because it can now sell OpenAI models to its cloud-server customers for the first time, thanks to a sudden change in OpenAI’s long-running partnership with Microsoft.But AWS is still chasing its white whale: creating a hit enterprise ...