Adobe Shares Tank On Lower Year-End Guidance
The software firm accelerated revenue growth to 11% in the third quarter, but saw its shares drop after announcing worse-than-expected fourth-quarter guidance.
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Warner CEO Says It Will Add 6 Million Streaming Subscribers in Q3
Warner Bros. Discovery CEO David Zaslav said its streaming business will add 6 million subscribers, driven by international growth and bundling Max with Disney.
Amazon Says It Will Increase Average U.S. Driver Pay to Nearly $22 Per Hour
The move comes as Amazon’s system of subcontractors, whom the company calls Delivery Service Partners, faces pressure from federal labor officials and union organizers.
OpenAI Releases Strawberry Reasoning Model to Paying Customers
The preview version beat PhD students at a science test.
Microsoft Hires GE’s Former CFO as New COO to Oversee ‘AI Transformation'
Happe will take over some engineering and operations teams that have reported to Azure chief Scott Guthrie and to enterprise applications chief Rajesh Jha.
Insight Sells Cyber Firm to Mastercard for $2.65 billion
The deal represents a big gain for Insight, which paid $780 million to buy the cyber firm five years ago.
Trading App eToro to Limit Crypto Offerings in SEC Settlement
SEC claims eToro operated an unregistered broker and clearing agency.
WBD and Cable Giant Charter Strike New Deal
The deals broaden distribution for WBD's streaming services and also extend carriage for its cable channels.
Microsoft Lays Off 650 XBox Staffers
Microsoft has been integrating staff from its $69 billion acquisition last October of Activision Blizzard, which employed 17,000 people.
Mistral Releases Text and Image Model Pixtral 12B
With the release, the startup catches up to Anthropic, Google and OpenAI.
Nvidia CEO Says Customers Are ‘Emotional’ About AI Chip Shipments
Huang said demand for Nvidia’s GPUs continues to outpace supply.
OpenAI In Talks To Raise $6.5 Billion at $150 Billion Valuation
The fundraising effort comes at OpenAI looks to make up for its growing losses, which could balloon to up to $5 billion this year.
Amazon Web Services to Spend $10.5 Billion in U.K.
Amazon has announced plans to spend more than $100 billion on data centers globally in the coming years.
Bitcoin, Coinbase Shares Fall After Trump-Harris Debate
Prediction markets show odds shifting in favor of Harris after the presidential debate.
Harris Attacks Trump on Chip Exports, Says U.S. Must ‘Win the Race on A.I.’
In a televised debate, Trump rebuffs criticism by decrying loss of manufacturing jobs
Amazon Continues to Drive Streaming Ad Prices Down, Says Fox CEO
Fox Corp. CEO Lachlan Murdoch said Amazon's decision to bring ads to Prime Video has flooded the streaming ad market with new inventory.
European Court of Justice Rules Against Apple and Google on Penalties
Apple will have to pay 13 billion euros in back taxes to Europe, while Google will have to pay a fine of 2.4 billion euros related to an antitrust ruling.
Alibaba Stock Added to Mainland China Trading Links
The inclusion in the program enables mainland Chinese investors to trade the company’s stocks.
Huawei Unveils Tri-Fold Phones to Challenge iPhone in China
Huawei's newest smartphone uniquely folds twice and could eat up more of Apple’s market share in China despite U.S. sanctions and a hefty price tag.
OpenAI, Google Employees Support California AI Bill
OpenAI officially opposes the regulationbut said employees should “feel free to” sign support letter.
Weekday mornings
The Information AM by The Information Staff
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