SoftBank Group Reports Loss as WeWork’s Collapse Weighs
The Japanese tech investment giant wrote down its stake in WeWork, which filed for bankruptcy protection this week.
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Hollywood Actors’ Union Reaches Tentative Deal With Studios to End Strike
If approved by the actors' union's board and members, the deal would end a months-long work stoppage that ground Hollywood to a halt.
Google Lays Off Some User Support Staff
The layoffs affected “a small number of roles on a team of hundreds,” a Google spokesperson said.
Disney Reduces Streaming Losses, Projects Profits Next Year
Disney said it still projects profits from its streaming business by this time next year. It also plans to cut another $2 billion in costs.
Instacart Grocery Order Volume Up 6% in First Earnings Release
The company said it would "opportunistically" buy back up to $500 million shares, signaling that it thinks its stock price is low.
Warby Parker Shares Slide As Margins Shrink, Customer Growth Stalls
The DTC eyewear company boosted its revenue guidance ahead of the holiday season.
Amazon Discounts One Medical for Prime Members by 50%
One Medical now costs 99 per year for people who already pay $139 for Prime.
Nvidia Hires Meta Infrastructure Exec to Run New Cloud Business
Alexis Black Bjorlin will report to Nvidia CEO Jensen Huang and oversee the company's new DGX Cloud business.
Warner Bros. Discovery CEO Hints at Consolidation Moves
Warner Bros. Discovery has emphasized profits in streaming, over subscriber growth, but CEO David Zaslav said this approach positioned the company well for future growth.
Goldman Looks to Get Out of GM Card Partnership
Wall Street bank continues its retreat from consumer products.
Collaboration Startup Miro to Buy Smaller Rival InvisionApp’s Whiteboard App
More startups are selling themselves or shutting down as venture capital funding has dried up in the past year.
Robinhood Returns to Losing Money After First Profitable Quarter
The investing firm lost $85 million in the third quarter.
Amazon Developing ‘Olympus’ AI to Narrow Gap with Microsoft, OpenAI
In the race to develop large language models for businesses, Amazon is considered a laggard behind OpenAI, Google and others.
Tesla Faces New Pressure in Sweden Over Union Contract
Tesla has avoided unions despite their popularity in auto manufacturing.
Coatue’s 2021 Growth Fund Has Lost Money on Paper
Coatue also marked down its stake in OpenSea 90%, implying that the former crypto darling is now valued at $1.4 billion.
Microsoft Offers Nvidia AI Chips to Y Combinator-Backed Startups
The GPU servers, made by Nvidia, have been hard to come by in the past year.
TikTok Hires Disney Exec to Run Media Relations Team in Comms Reorg
TikTok’s communications chief Zenia Mucha is shaking up its communications team, less than five months after joining in June.
Shein Targets Up to $90 Billion Valuation in U.S. IPO
The potential valuation is a steep increase from the fast-fashion giant’s last funding round.
Uber’s Free Cash Flow More Than Doubles as Bookings Growth Picks Up
Uber's bookings growth has picked up after slowing in recent quarters.
Weekday mornings
The Information AM by The Information Staff
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