Paramount Global Lays Off 800 People
Paramount Global is grappling with a shrinking cable TV sector and streaming losses.
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The Information AM
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Recent Editions
Founders Fund Realized $1.8 Billion Gain From Crypto Before Crash, Bought More Last Year
The VC fund has reportedly made a killing from cryptocurrencies
Temu Airs Super Bowl Ads For Second Year In a Row
The e-commerce upstart planned $10 million in giveaways for shoppers as part of its marketing blitz.
Jeff Bezos Sells $2 Billion in Amazon Stock
Earlier in February, Amazon said in a securities filing that Bezos could sell up to 50 million shares, or about 5% of his total Amazon stake, over the next 12 months.
Wish, Discount Site Once Valued at $14 Billion, Sold for $173 Million
Wish, which went public in 2020, presaged a newer wave of deeper-pocketed competitors like Temu and Shein.
Apple Settles with Chip Startup It Accused of Stealing Trade Secrets
The settlement is likely good for chip startup Rivos, which could have faced potential damages and been forced to pay Apple a royalty for its chip designs.
Neuralink Leaves Delaware for Nevada
The move follows Elon Musk’s vows to move Tesla to Texas.
Nvidia Talks to Microsoft, Meta, Amazon About Custom AI Chips
Major cloud providers including Amazon and Microsoft have developed their own custom AI server chips, which they hope will lower their dependence on Nvidia.
CVC Agrees to Buy RuneScape Developer From Carlyle
Deal to buy Jagex is reportedly worth around $1.1 billion
OpenAI CEO Altman Said to be in Talks to Raise Trillions for AI Chip, Power Initiative
Altman is trying to solve one of the key bottlenecks hindering OpenAI’s growth.
VC Firms Invested in AI Companies That Supply China’s Military
The report follows an investigation into the VC firms, some of which have separated from their Chinese entities in the past year.
Affirm Revenue Up 48% on Higher Interest Income
Affirm’s interest income rose 86% between October and December.
Pinterest Reports 12% Higher Revenue
Pinterest stock dropped 15% after hours, suggesting investors were hoping for an even better performance.
Microsoft Says Activision Layoffs Were Planned Before Acquisition, Rebutting FTC Claim
A federal appeals court is considering the FTC’s long-shot bit to overturn the Microsoft-Activision deal.
Shein Plans Seattle Hiring Push As Logistics Unit Ramps Up
The fast-fashion giant hired its new head of U.S. logistics, a ByteDance and Amazon alum, last year.
Arm Stock Soars 60% As Firm Highlights AI Business
Arm, which is best known for supply designs used in mobile phone chips, is painting itself as a participant in the AI revolution.
Microsoft Super Bowl Ad Pitches AI Copilot App
Microsoft appears willing to make generative AI tools widely available to consumers for free in order to gain traction.
Google Launches its GPT-4 Rival, Gemini Ultra, For $20 a Month
Google’s challenge will be to convince professionals to sign up for the new product.
SoftBank Swings to Profit on Vision Fund’s Investment Gains
SoftBank, which last year wrote down its earlier bet on WeWork, is now positioning U.K. chip designer Arm as the centerpiece of its investment portfolio.
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