Reddit Prices IPO at $34 a Share, Reflecting Strong Demand
Reddit priced its shares at $34 a piece, implying a valuation of $6.4 billion, as it prepares to list publicly Thursday, a person familiar with the matter said.
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Meta, Microsoft and Musk’s X Team Up to Fight Apple in Court
The tech companies complain that Apple's recent changes to App Store rules, which respond to a 2021 court ruling, breach the ruling and will drive up prices.
Equinix Stock Falls After Hindenburg Research Report
The report raised questions about the company’s accounting practices, as well as ability to generate revenue from the artificial intelligence boom.
Apollo Reportedly Makes $11 Billion Bid for Paramount’s Studio
Apollo's bid is just for Paramount's film and TV studio and joins a competing bid from David Ellison's Skydance Media for the whole company.
Temu Owner PDD Holdings’ Quarterly Revenue More Than Doubled
The e-commerce giant spent 50% more on marketing than a year earlier, likely due to Temu’s ad blitz.
China’s Tencent Plans to Double Share Buybacks This Year
The Chinese tech giant is trying to shore up investor confidence amid uncertainties over China's economy and the outlook for its videogame business.
U.S. Mulls Blacklisting Chinese Chip Firms Tied to Huawei
Such a move would be part of Washington's ongoing effort to undermine Beijing's attempt to develop more advanced chips.
Apple CEO Tim Cook Visits China Amid Shrinking Sales
Cook’s visit comes amid shrinking sales in China, brought on by a slowing economy and tough competition from Huawei and other Chinese brands.
Saudi Arabia’s Public Investment Fund, Andreessen Horowitz Discuss Partnership
Andreessen Horowitz has discussed teaming with Saudi sovereign wealth fund on AI fund
Microsoft Hires Suleyman, Co-founder of DeepMind, to Lead Bing and AI Efforts
The move brings one of Microsoft’s would-be rivals into the fold.
Marc Lore’s Food Delivery Startup, Wonder, Raises $700 Million
In early 2023, Wonder ditched its original model of preparing food inside trucks that park in customers’ driveways.
Meta Offers to Cut EU Subscription Fees to Address Regulator Concern
It’s unclear if the price drop will go ahead.
Ant Group Reorganizes Business Units, Appoints New President
Three units will set up their own board of directors and operate independently
George Lucas Backs Disney in Proxy Fight with Nelson Peltz
The Star Wars creator, in a statement provided by Disney, said he has "full faith and confidence" in Disney and CEO Bob Iger's track record.
Google’s Reid Becomes New Search Chief
It's the second major executive shuffle for Google’s core search business in the last four months.
Nvidia Unveils New AI Chip, Reportedly in Talks to Buy Israeli Startup
The startup could help Nvidia's cloud AI service.
Messaging App Telegram Raises $330 Million in Debt
The company has chosen to raise debt rather than equity to retain its founders' control.
Amazon to Open Beauty and Personal Care Store in Italy
The store would be the first of its kind for Amazon and the company’s first bricks-and-mortar location in Italy.
Disney Gets Backing of Glass Lewis in Proxy Fight with Nelson Peltz
Glass Lewis backed Disney's efforts to turn around its business, dealing yet another blow to Nelson Peltz's campaign to win two board seats.
Amazon and FedEx Discussed Returns Deal
Amazon already lets customers make returns through UPS but started adding fees for some UPS home pickups and store drop-offs over the past couple of years.
Weekday mornings
The Information AM by The Information Staff
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