Apollo, Blackstone and Brex Among Firms That Bid for SVB Assets
Twenty firms lobbed bids for all or part of SVB after its collapse, the FDIC said.
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Programming Site Stack Overflow Facing Challenge From Generative AI
Stack Overflow, a popular Q&A site for software programmers, is being labeled a canary in the coal mine as generative AI marches on.
Robinhood Revenue Buoyed by Rising Rates
Interest income continues to drive much of the company’s top line growth.
Google CEO Discloses ‘Gemini’ AI to Rival OpenAI’s GPT
Gemini is likely to be one of the biggest AI machine-learning models ever created.
Disney to Combine Disney+ and Hulu Into One App
Disney CEO Bob Iger said he is more inclined for Disney to keep its majority stake in Hulu.
NY Times Co’s Digital Ad Revenue Drops in Q1
The publisher offset the decline in digital ad revenues with double-digit growth in subscription revenues, which was helped by last year's acquisition of The Athletic.
Microsoft Tells Full-Time Employees They Won’t Get Raises This Year
CEO Satya Nadella told employees that the decision was due to “macroeconomic uncertainties.”
Walmart Wants to Move Card Business to Fintech Venture: Capital One
One, the Walmart-backed venture, is also planning to offer buy now, pay later loans to shoppers.
iRobot’s Revenue Drops, Shares Fall Further Below Amazon Takeover Price
The Roomba maker's shares were trading more than 42% below the price Amazon has agreed to pay.
Judge Says Block’s Tidal Deal Was ‘Terrible Business Decision’
The judge ruled that boards of directors are “free to make a terrible business decision” as long as they are made “in good faith."
Shortage of AI Servers Prompts Microsoft-Oracle Negotiations
Large-scale AI computing has put a strain on all major cloud providers.
Affirm’s Revenue Growth Slows as Loss Widens
Affirm’s results in the third quarter of its fiscal year suggested customers are making smaller purchases through buy now, pay later services.
Tucker Carlson Says He’ll Launch Show on Twitter
The conservative news host Tucker Carlson announced that he would launch a new version of his show on Twitter, after being fired last month from Fox News.
Anthropic Shows How its AI Training Differs From OpenAI’s
Anthropic is sharing details on how it trained the language model behind its Claude chatbot, in an apparent bid to differentiate itself from other AI startups.
Airbnb Revenue Growth Slows to 20%
While the travel booking site is now immensely profitable, its growth rate has slowed sharply as the rebound from the post-Covid period dissipates.
BuzzFeed Revenue Falls 27%
BuzzFeed's revenues plummeted in the first quarter, driven by a 30% drop in ad sales. It forecasts a 29% decline in revenues next quarter.
LinkedIn to Lay Off 716 Employees, Downsize China Business
As part of the reorganization, LinkedIn will shut down InCareer, its local jobs app in China.
Allbirds Forecasts More Revenue Decline, Co-CEO to Change Roles
The direct-to-consumer footwear brand is looking to turn around its business in what executives have called a “year of transition.”
Andreessen Horowitz Pledges $500 Million to Startups Supporting U.S. Interests
Andreessen Horowitz partners also urged fellow VC firms to support companies working in the U.S. aerospace, defenseand public safety industries.
Paramount Cuts 25% of Domestic Staff in TV Division
Paramount is laying off roughly 25% of employees within the unit that oversees its domestic cable networks a week after the company reported declining ad sales.
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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