Musk-Owned X’s Quarterly Revenue Fell 53%: Report
A new report shows that U.S. revenue at social-media platform X dropped by 53% in the second quarter of 2024 compared to one year ago.
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Twitch Generated $2 Billion in Revenue in 2023
Twitch remains unprofitable even after two rounds of layoffs since the beginning of 2023, according to the Wall Street Journal.
Apple’s AI Features Won’t be Ready for the Next iPhone Software Update
The delay underscores the short timeline Apple has had to work on its new AI features, which began in early 2023.
China’s Zhipu AI Launches Text-to-Video Model Similar to Sora
China's tech giants and startups are in a race to make their text-to-video AI models widely available to customers.
Justice Department Raises Fresh Concerns About TikTok
The DOJ is weighing in to support the new U.S. law that would force a ban or sale of TikTok, while the app is fighting a legal battle to block the law.
Trump Vows to Fire SEC Chair, Create National Bitcoin Stockpile
Trump continued his courtship of the crypto industry while Harris reportedly tries to ‘reset’ relations with it.
Warner Bros. Discovery Files Lawsuit Against the NBA
The media giant argues that the NBA violated its existing sports rights contract by rejecting its bid to match Amazon's new deal with the league.
Coinbase Adds Three Board Members, Including OpenAI Executive
Chris Lehane, Paul Clement, and Christa Davies are joining the board
Musk Considers $5 Billion Tesla Investment in xAI
Money could potentially help Tesla's self-driving ambitions
OpenAI Announces AI-Powered Search Engine, SearchGPT
The search engine product will only be available for a small group of early testers and publishers for now.
Influencer Beauty Brand Summer Fridays Lands PE Investment
The brand was part of a larger group of beauty startups working with bankers, but dealmaking has been slow this year.
Lawmakers Urge Meta CEO to Delay Closure of CrowdTangle
The tool, which Meta plans to shutter in August, has previously been used to track the spread of election-related misinformation.
Silicon Valley Law Firm Cooley Hires Its First Chief Innovation Officer
“Generative AI has changed the conversation for so many industries."
ServiceNow Raises Outlook; President Resigns
The company said contributions from its generative AI business exceeded expectations in the second quarter.
NBA Rejects Warner Bros. Discovery’s Proposal for Sports Rights Deal
The NBA said Warner Bros. Discovery was unable to match what Amazon is offering with Prime Video, setting the stage for a potential legal dispute.
NBA Announces $77 Billion TV and Streaming Deals with Amazon, Disney and NBCU
The deals make Amazon the first ever streaming video giant to exclusively stream live NBA games in the U.S.
Anthropic Projected to Burn More Than $2.7 Billion in Cash This Year
The figures suggest that Anthropic is less efficient than OpenAI, which is also on track to lose billions of dollars this year.
Nvidia to Start Using Samsung’s Advanced Memory for AI chips
Nvidia will have sufficient memory components to increase the production of its AI chips as Samsung has begun supplying the advanced memory to the U.S. company.
Tesla Reports 45% Drop in Second-Quarter Profit
EV deliveries fall for a second consecutive quarter
Spotify Reports Record Revenue in Second Quarter
The audio streaming company also added 7 million new subscribers.
Weekday mornings
The Information AM by The Information Staff
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