Amazon Operating Income Jumps
Amazon managed to keep costs under control in its retail and subscriptions businesses in North America.
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Cloud Startup CoreWeave Raises $2.3 Billion in Debt
The company aims to compete with larger cloud providers, such as Amazon Web Services.
Meta’s Ray-Ban Glasses Fall Flat With Customers
Internal data reportedly shows that less than 10% of purchased devices are actively used.
Warner Bros. Discovery Loses Streaming Subscribers, TV Ad Revenue
Warner Bros. Discovery lost 1.8 million direct-to-consumer subscribers in the second quarter as TV ad revenue plummeted 13%.
Robinhood Posts First Quarterly Profit
Robinhood earned a GAAP profit of $25 million during the second quarter.
SoftBank-Backed Storage Startup Sells After Runway Dwindles
The company was last valued at a reported $600 million in 2019.
Brookfield and Sequoia Heritage Launch Fund to Scoop Up Cheap Startups
Pinegrove Capital Partners will be led by Brian Laibow, a former credit investor at Oaktree Capital Management
Stripe Hires Former Google Cloud CFO as Finance Chief
The move should relieve Stripe co-founder John Collison of his temporary CFO dutie.
DoorDash Shares Jump on More Bullish Outlook
The food delivery app reported a 33% increase in revenue and raised its full marketplace volume forecast.
Shopify Says Profitability to Improve After Ditching Logistics Unit
The e-commerce software maker said revenue growth may slow slightly due to logistics sale.
Hopin Sells Virtual Events Business, CEO Steps Down
Hopin, which emerged as one of the highest-flying venture-backed collaboration startups during the pandemic, is making major changes.
Arm Aims for $60 Billion Valuation in September IPO
Arm's listing will be the most important test for the stagant market for public offerings.
AWS Says 40,000 Customers Use Homegrown Graviton Chips
The cloud provider has not previously disclosed how many customers use its in-house server chips.
Amazon Looks to Revamp Lagging Grocery Business
Amazon is deemphasizing its Just Walk Out system, which still requires a large number of humans behind the scenes who manually review camera footage.
AMD CEO: Forthcoming MI300 Chip Could Boost Data Center Revenue
Nvidia doesn't have much competition these days, but AMD's new MI300 chip could change that when it hits the market next year.
Amazon Taps Alexa Exec to Run Artificial General Intelligence Team
Rohit Prasad’s new role reveals Amazon’s lofty ambition to compete with Microsoft-based OpenAI in creating a system capable of AGI.
Pinterest Says AI Recommendations Keep Users on Site
User growth was flat from last quarter, but Pinterest said existing users are spending more time on its site.
Elon Musk’s X Sues Nonprofit that Researched Hate Speech on Platform
The lawsuit claims that the nonprofit’s research on hate speech has cost Twitter tens of millions of dollars in advertising revenue.
Vice Media Loses Top Editors Following Post-Bankruptcy Sale
Senior Vice editorial leaders are leaving the company a day after it closed its post-bankruptcy sale to former lenders.
Blue Owl Capital Leads Loan for $6.5 Billion New Relic Buyout
Financing was mostly done by non-bank direct lenders
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The Information AM by The Information Staff
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