YouTube Says Revenue Rose to $40 Billion, Boosted by Subscriptions
YouTube’s new CEO says the company has seen continued gains in its paid subscription products.
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Apple’s Headset Budget Exceeds $1 Billion a Year
The risky and expensive new mixed reality headset even has some senior Apple executives keeping their distance from it.
Walmart Raises Revenue Guidance As Downturn Draws Bargain Hunters
The retail giant’s online sales jumped 27% as its members placed more pickup and delivery orders.
Alibaba Aims to Spin Off Cloud Business Within 12 Months
The move comes after Alibaba in March announced plans to split into six business units, with each unit exploring its own initial public offering.
Theranos Founder Elizabeth Holmes Ordered to Prison
The court also ordered Holmes and ex-COO Balwani to pay $452 million to victims.
Montana Governor Signs TikTok Ban Into Law
The ban is the first of its kind, but it's likely to be challenged in the courts.
TPG, Francisco Partners In Talks to Buy Software Firm New Relic
Buyout firms are once again eyeing New Relic, which has been the subject of acquisition rumors for nearly a year.
Netflix Says It Has 5 Million Ad-Supported Viewers, but Doesn’t Reveal Subscriber Figures
In a presentation to advertisers, Netflix said more than a quarter of new subscribers are signing up for its ad-supported tier.
Shein’s Valuation Drops 34% in $2 Billion Funding Round
The e-commerce giant reportedly plans to grow its revenue 40% this year.
Ripple Buys Swiss Crypto Custodian Metaco for $250 Million
Metaco will continue to operate as its own brand and business unit after the acquisition and will be led by its founder and CEO, Adrien Treccani.
China’s Tencent Reports Solid First-Quarter Revenue After Tough 2022
The recovery comes after Tencent last year struggled to cope with China's Covid-19 lockdowns and the impact from Beijing's earlier regulatory crackdown.
Twitter Lost $40 Million in Advertising Due to Community Notes, Musk Says
The $40 million loss is a relatively small portion of the overall decline in Twitter’s advertising revenue.
WeWork CEO Mathrani Steps Down
Mathrani's departure poses a fresh challenge for the co-working provider, which continues to bleed cash.
Meta Spins Off Kustomer
Under the deal, early backers of Kustomer will put in a combined $60 million to fund the company’s operations.
OpenAI’s Altman Acknowledges AI Dangers, Asks for Regulation
Sam Altman isn't sugarcoating the dangers of the unfettered development of generative AI, telling Congress that safety measures are needed.
Luminar Technologies CEO’s Deal to Buy Forbes Backed by U.S. Investors
Forbes' owner denied a report in Axios that most of the investors in the deal were foreign.
Comcast CEO Roberts Expects to Sell Hulu Stake Next Year
Roberts says Hulu stake is valuable but asset prices have fallen since the 2019 agreement was struck.
Venture Capital Returns Reach Decade Low
VC returns were negative for three consecutive quarters last year.
SEC Fires Back at Coinbase’s Request For New Crypto Rules
Since Chair Gary Gensler joined the agency in 2021, the SEC has been ramping up its enforcement actions against crypto firms.
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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