Esports Heavyweight FaZe Clan Goes Public in $725 Million SPAC Deal
The gaming company was previously valued at $1 billion
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The Information AM
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Google Says It Will Pause Hiring
The internal announcement strikes a cautionary note ahead of Google's earning call, scheduled for next week.
U.S. Chip Funding Bill Wins Initial Support in First Senate Vote
The support for the $52 billion bill for domestic chip production could pave the way for discussions about additional funding for scientific research.
Netflix Loses 970,000 Subscribers in Second Quarter
The streaming giant hung on to more subscribers than it forecast, but the strong dollar cut into profits.
Google and Oracle’s London Data Centers Hit by Cooling Outages
The scorching heat plaguing much of Europe has also affected some customers of Oracle and Google's cloud services.
Shopify Brings Commerce to YouTube
The effort is the latest in a series of initiatives from Shopify that helps its merchants tap into the growing creator economy.
Instacart Investor Slashes Valuation to $14.7 Billion
The new valuation by Capital Group, a financial services company, is well below Instacart’s own internal calculation of $24 billion.
Twitter-Musk Trial Set for October as Judge Boosts Twitter Legal Case
The judge said the percentage of Twitter spam accounts is not relevant because “nothing in the merger agreement turns on that question.”
Facebook’s ‘Cunningham Memo’ Released by House Antitrust Committee
The memo first appeared in The Information, and Facebook subsequently turned it over to House investigators.
Microsoft Launches Social App for Corporate Settings
Microsoft's latest effort to foster social networking-type interactions uses software from its Yammer acquisition a decade ago.
Facebook Moves Resources Away from News, Substack Competitor Bulletin
Meta Platforms is scaling back some resources from Facebook News and newsletter publisher Bulletin, although those products will continue to exist.
China’s Regulator to Fine Didi More Than $1 Billion to End Yearlong Probe
The end of Beijing's investigation into Didi will be a turning point in China's sweeping regulatory crackdown on the internet sector.
U.S. Tech Funding Bill May Exclude Firms Making Advanced Chips in China
The proposed draft bill prevents companies that are building or expanding advanced chip manufacturing plants in China from taking advantage of the funding.
SoftBank Suspends Work on London IPO for Chip Design Firm Arm
U.K. Prime Minister Boris Johnson had lobbied for a dual New York and London listing of the Cambridge-based tech firm.
DataRobot’s Chief AI Strategist Resigns Over Exec Stock Sales
The move is evidence of internal fallout The Information's report in June
Meta’s Forced Sale of Giphy Stalls After Regulatory Fumble
The U.K. Competition & Markets Authority unlawfully redacted material in its merger inquiry, an appeals tribunal ruled.
Gemini Makes Another Round of Job Cuts
Gemini had previously laid off 10% of staff at the beginning of June, citing the start of a crypto winter.
ByteDance’s Chinese Video App Tests Food Delivery Feature
It is still unclear whether ByteDance will make a major foray into China's food delivery market dominated by Meituan and Alibaba unit Ele.me.
Food Delivery App Deliveroo Cuts 2022 Sales Forecast
The London-based company's weaker forecast comes as the food delivery sector as a whole grapples with slower growth.
Amazon Pulls Back on Private-Label Products
Following weak sales and increased regulatory scrutiny, Amazon is slashing the number of private-label products it sells under its house brands
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