Kraken Announces Co-CEO Hire, Lays Off Staff
The crypto exchange said its net revenue has reached more than $1 billion.
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Recent Editions
Meta’s Revenue Rises 19% in the Third Quarter
Growth slowed from the second quarter, when Meta posted annual revenue growth of 22%.
Reddit Stock Soars 42% In Wake of Strong Earnings
Most of the revenue growth flowed from sharply higher advertising revenues, largely due to a big expansion in the number of daily visitors to the service.
Dropbox, Miro Lay Off Staff As Enterprise Slowdown Continues
Dropbox and Miro said Wednesday that each would lay off around a fifth of their employees.
EU Set to Launch Temu Probe Over Illegal Products
The probe would mark another regulatory inquiry into Temu’s safety practices.
ByteDance Founder Is China’s Richest Person
Zhang Yiming, who stepped down as ByteDance's CEO and chair in 2021, continues to own a stake in the company.
Snap Revenue Gains on Direct Ads, Subscriptions
The app reports progress with a new ad format and subscription sales.
Reddit’s AI Licensing Deals Help it Notch First-Ever Profitable Quarter
Reddit reported better-than-projected third-quarter revenue and profit on Tuesday, sending its shares soaring.
AMD Shares Dip 7% Despite Data Center Chip Sales Growth
AMD's data center chip sales more than doubled during its September quarter as customers increased their usage of its Instinct MI300A AI chip, but investors wanted more.
Google’s Booming Cloud Unit Helps Alphabet Overcome Ad Growth Slowdown
AI costs continue to sap free cash flow.
PayPal Leans Into Touting Venmo
PayPal’s revenue growth slowed to 6% in the third quarter, the payments firm reported on Tuesday, as growth in payment volume also slowed.
Musk’s xAI to Raise Capital at $40 Billion Valuation
Elon Musk's xAI is expected to raise more money at a $40 billion valuation amid plans to double xAI's GPU cluster.
U.S. Finalizes New Restrictions on Sensitive Tech Investments in China
The new rules, which will take effect on Jan. 2, will prohibit and screen certain investments into China’s semiconductors, AI and quantum computing industries.
Instagram Lowers Video Quality for Underperforming Videos
Head of Instagram Adam Mosseri explained the practice in an Instagram video of his own.
Perplexity Taps Meta, LinkedIn Exec for Publisher Program
As Perplexity prepares to launch ads on its search engine, it brings on a publishing partnership veteran to help build trust with media outlets.
Nvidia Doubles Down on Musk’s xAI Cluster Claims
XAI plans to double the size of its GPU cluster to 200,000 chips, according to the chip giant.
OpenAI Say 75% of Revenue Comes From Consumers
Currently, ChatGPT has 250 million weekly active users, up 25% from August.
Michael Bloomberg Donates $50 Million to Harris
Democrats had been long hoping for support from the former mayor and presidential candidate.
Meta Works on AI Search Engine to Lessen Reliance on Google, Microsoft
The work aims to lessen Meta’s reliance on Google Search and Microsoft’s Bing, which currently provide information about sports, stocks and other current events to people using its Meta AI chatbot.
Microsoft Accuses Google of Running ‘Shadow’ Antitrust Campaigns Against It
Microsoft accused Google of spreading “misleading” accusations about Microsoft’s cloud business and ties to China to politicians and news outlets.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy