Amazon Plans to Shift Spending to AWS to Power AI
Revenue growth slumped for Amazon Web Services, the company's biggest profit driver.
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Snap Revenue Falls 7% as Its Results Diverge From Meta’s
The company's stock price dropped 19% after normal trading hours.
Clubhouse Cuts More Than Half Its Staff
The social audio app that saw a boom during the pandemic is hitting the reset button.
Apple Engineers Aim to Launch AI Improvements to Siri Next Year
If Apple joins the AI race, it will do so at its own, cautious pace.
Time.com to Remove Online Paywall
Marc Benioff's Time is eliminating its online paywall, which currently counts 250,000 subscribers, in a bid to reach a wider global audience.
Vice Media Cancels ‘Vice News Tonight,’ Makes Other Cuts to Vice News
Vice Media is making cuts to its Vice News division, which includes canceling its flagship TV show "Vice News Tonight," as the company restructures its business.
NBCU’s Peacock Adds 2 Million Subscribers
Comcast president Mike Cavanagh now leads NBCU, which saw its domestic ad business dip during the first quarter as Peacock added 2 million subscribers.
Roku Reports Flat Q1 Revenue, Expects Weak Ad Market to Persist
Roku, which sells streaming devices and sells ads on its TV platform, said it expects the weak ad market to continue through 2023.
YouTube Contract Workers Vote to Unionize, Setting Up Showdown With Alphabet
The move could force Google to bargain collectively with employees for the first time.
Amazon Shuts Down Halo Health and Fitness Team, Discontinues Devices
The Halo team sat within Amazon’s devices and services division, which has come under pressure as Amazon looks to cut costs.
Meta’s Q1 Revenue Increases 3% as Ad Business Slowly Recovers
The company’s stock surged in after-hours trading following the earnings announcement.
Layoffs Begin at Amazon Web Services
Though AWS is Amazon's most profitable business unit, the company is trimming its size amid slowed sales growth.
Founder of Fox Corp.-Owned Free Streaming Service Tubi to Step Down
Farhad Massoudi will depart Tubi, which he sold to Fox Corp. in 2020 for about $440 million. Fox is creating a new digital business unit led by longtime CTO Paul Cheesbrough.
Disney Sues Florida Gov. Ron DeSantis in Disney World Spat
Disney, which employs 75,000 people in Florida, alleges the state governor of retaliating against the company for its opposition to the "Don't Say Gay" education bill.
UK Regulator Blocks Microsoft’s $69 Billion Bid to Acquire Activision
Microsoft says it will appeal the decision.
Meta’s Clegg: TikTok in U.S. Creates ‘Lack of a Level Playing Field’
Clegg’s comments come as social media executives whose companies compete with TikTok have become more vocal in their opposition to the company.
OpenAI Teases Business Version of ChatGPT With Privacy Controls
In the latest sign that OpenAI's business side is maturing, the startup unveiled new features that give ChatGPT users more control over the data they generate.
Google Ad Revenue Declined For the Second Straight Quarter
Operating income fell 13% in the first quarter, reflecting $2.6 billion in costs related to layoffs and downsizing office space.
Binance.US Cancels Deal To Buy Bankrupt Crypto Firm Voyager
Voyager will now move to directly distribute cash and crypto back to customers.
Microsoft Revenue Rose 7% in Q1, Spurred by Office 365
Revenue in the unit that includes its Office 365 software grew 11%, compared to 7% growth in the quarter prior.
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.
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