Snowflake Shares Fall 5% as Revenue Growth Slows Despite AI Push
The company said profit margins would drop by 3 percentage points this year due to its use of pricey Nvidia chips needed to train and run AI models.
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Recent Editions
Alphabet, Meta Look to Strike Licensing Deals With Hollywood Studios
Alphabet and Meta have reportedly offered Hollywood studios tens of millions of dollars to license content so they can train artificial intelligence that generates video.
U.S. Approves Nasdaq, NYSE Requests to List Ether ETFs
The move is a surprising win for the crypto industry.
BuzzFeed Shares Surge After Vivek Ramaswamy Acquires Stake
Ramaswamy plans to influence on the company’s management and operational strategy.
Meta Creates Group to Advise on AI Products
The group's members include Stripe CEO Patrick Collison and former GitHub CEO Nat Friedman.
News Corp and OpenAI Strike Multiyear Deal
The pact will allow OpenAI to use content from The Wall Street Journal, The Sunday Times and other news brands in its AI products.
Nvidia Forecasts Strong Growth After Reaping $14.9 Billion Quarterly Profit
The AI boom goes on for app developers' favorite sever chip maker.
Snowflake’s Talks to Buy Startup Reka for $1 Billion Fall Apart
The saga illustrates the tough environment faced by generative AI startups.
Microsoft Unveils New AI ‘Agents’ to Automate Workplace Tasks
The announcement reflects Microsoft’s efforts to make its AI-powered software more useful to businesses in order to drive spending.
TikTok Plans Significant Job Cuts
It's unclear how many roles will be affected by the layoffs.
Anthropic Hires Its First CFO to Shape its Financial Strategy
Anthropic is bolstering its ranks ahead of product and international expansion.
Scale AI Raises $1 billion in Round Backed by Accel, Amazon and Nvidia
Scale AI expects to be profitable by the end of 2024
Farcaster Raises $150 Million at $1 Billion Valuation
Paradigm, a16z crypto, Haun Ventures among investors
China Announces Sanctions on Former U.S. Congressman Mike Gallagher
Beijing's move comes after Gallagher earlier this year led the U.S. legislation to force a sale or ban of TikTok.
Zoom Revenue Rises 3%, Forecasts Slower Second Quarter
The company is hoping new AI features will entice customers and drive revenue growth.
Scarlett Johansson Says She Hired Lawyers Over OpenAI Voice Feature
Johansson said OpenAI CEO Sam Altman had twice asked her to voice the system, including two days before an OpenAI demo
Bumble to Buy VC-Backed Friends App Geneva
Bumble expects the deal to close in the third quarter of 2024
Ether Jumps on Optimism Over ETF Approval Odds
SEC set to make decision on key filing by May 23
FDIC Chairman Gruenberg Resigns
Martin Gruenberg has resigned from the banking regulator following a scathing review of the agency’s culture and work environment.
Weekday mornings
The Information AM by The Information Staff
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