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April 25, 2024, 2:40 AM
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Meta Investor Relations:
Meta reports Q1 revenue up 27% YoY to $36.46B, net income up 117% YoY to $12.37B, and family daily active people up 7% YoY to 3.24B for March 2024  —  Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended March 31, 2024.
Ashley Capoot / CNBC:
Meta's stock drops 15%+ after hours on weak Q2 revenue guidance and higher FY 2024 capital expenditures due to increased AI infrastructure investments  —  Meta shares plunged in extended trading on Wednesday after the company issued a light forecast, overshadowing better-than-expected first-quarter results.
Alex Heath / The Verge:
Mark Zuckerberg says Meta AI assistant has been “tried” by “tens of millions of people” and it will take Meta several years to make money from generative AI
Karissa Bell / Engadget:
On Meta's Q1 earnings call, Mark Zuckerberg said Threads now has more than 150M MAUs, up from 130M in February 2024
Alex Koller / CNBC:
Meta's Reality Labs Q1: revenue up 30% YoY to $440M, vs. $512.5M est., a $3.85B operating loss, vs. $4.31B est.; Reality Labs lost $45B+ since the end of 2020
Lauren Feiner / The Verge:
President Biden signs the ByteDance-TikTok divest-or-ban bill into law, after the Senate passed it by 79-18; the House passed the legislation 360-58 on April 20  —  The divest-or-ban bill is now law, starting the clock for ByteDance to make its move.  The company has an initial nine months …
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See also Mediagazer
Alex Barinka / Bloomberg:
Biden signing the TikTok divestment bill starts a 270-day countdown for a sale or a US prohibition; sources say ByteDance sees a divestiture as a last resort
New York Times:
How a tiny group of US lawmakers and aides wrote the TikTok divestment bill, hiding their efforts to avoid TikTok's lobbying, alongside the DOJ and White House
Monica Alba / NBC News:
Biden's re-election campaign plans to continue using TikTok for at least the next year, with “enhanced security measures”, to help “meet voters where they are”
Andy Greenberg / Wired:
Cisco details a hacking campaign that penetrated multiple governments' networks using two zero-day flaws in its VPN and firewall Adaptive Security Appliances  —  Sources suspect China is behind the targeted exploitation of two zero-day vulnerabilities in Cisco's security appliances.
David Pierce / The Verge:
Hands-on with the Rabbit R1: a fun and funky AI device that feels pretty nice and does a solid job with basic AI questions, but the Rabbithole app is unfinished  —  There were times I wasn't sure the Rabbit R1 was even a real thing.  The AI-powered, Teenage Engineering-designed device came …
Bob Van Voris / Bloomberg:
US prosecutors charge two founders of the Samourai Wallet crypto mixing service, saying it facilitated more than $100M in money laundering transactions  —  - US prosecutors say Samourai Wallet was ‘haven for criminals’  — Europol has said crypto mixing services are a ‘top threat’
Ben Glickman / Wall Street Journal:
IBM agrees to buy HashiCorp, which helps companies manage cloud infrastructure, in a deal valuing HashiCorp at $6.4B and expected to close by the end of 2024  —  IBM will pay $35 a share for the cloud-software company in cash, giving it access to HashiCorp's roster of some 4,400 clients
Shubham Sharma / VentureBeat:
Snowflake announces Arctic, an LLM optimized for enterprise tasks such as SQL generation, coding, and instruction following, with an Apache 2.0 license  —  Today, Snowflake announced the launch of Arctic, a large language model (LLM) optimized for complex enterprise workloads such as SQL generation …
Kyle Wiggers / TechCrunch:
AI coding assistant startup Augment emerges from stealth with a $227M Series B at a $977M post-money valuation, following a $25M Series A led by Sutter Hill  —  AI is supercharging coding — and developers are embracing it.  —  In a recent StackOverflow poll, 44% of software engineers …
Shubham Sharma / VentureBeat:
Apple researchers share OpenELM, a family of LLMs with 270M to 3B parameters, designed to run on-device, and pre-trained and fine-tuned on public datasets  —  Just as Google, Samsung and Microsoft continue to push their efforts with generative AI on PCs and mobile devices …
Zoho:
Instant invoice insights with Zoho Cliq and Zoho Invoice  —  Timely communication is the cornerstone of successful invoicing management.  Picture this: your business diligently sends out invoices to customers, but navigating payments and managing invoices quickly becomes overwhelming without real-time updates.
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Brian McGleenon / The Block:
Worldcoin subsidiary World Assets plans to sell WLD tokens to meet the demand for orb-verified World IDs and support Worldcoin network growth; WLD drops 7%+  —  - Worldcoin says its subsidiary World Assets may routinely sell WLD tokens to meet increasing demand for orb-verified World IDs and support network growth.
Joanna Nelius / The Verge:
Qualcomm details its Snapdragon X Plus and X Elite chips; benchmarks from a demo suggest the chips match Apple's M3, Intel's Core Ultra 9, and AMD's Ryzen 9  —  On Wednesday, Qualcomm announced the impending arrival of its Snapdragon X Plus laptop processor alongside more information …

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Mastodon:
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Newest

New York Times:
A look at Saudi Arabia's spending blitz to become an AI superpower, which has put the kingdom in the middle of an escalating global competition over AIFind
5 minutes ago
Manish Singh / TechCrunch:
Filing: Swiggy, which has a ~45.8% share of the Indian food delivery market, secures shareholder approval for a potential $1.25B IPO, slated for later this yearFind
10 minutes ago
Wall Street Journal:
Sources: ByteDance execs have previously considered TikTok's global operations to be worth ~50% of the company's overall value, which would put it above $100BFind
15 minutes ago
Financial Times:
K Krithivasan, the CEO of Indian IT giant TCS, says there'll be “minimal” need for call centers in as soon as a year, as AI chatbots take over much of the workFind
60 minutes ago
Karissa Bell / Engadget:
On Meta's Q1 earnings call, Mark Zuckerberg said Threads now has more than 150M MAUs, up from 130M in February 2024Find
85 minutes ago
Shubham Sharma / VentureBeat:
Snowflake announces Arctic, an LLM optimized for enterprise tasks such as SQL generation, coding, and instruction following, with an Apache 2.0 licenseFind
2½ hours ago
Alex Heath / The Verge:
Mark Zuckerberg says Meta AI assistant has been “tried” by “tens of millions of people” and it will take Meta several years to make money from generative AIFind
2½ hours ago
Full Time-Sorted List

From Mediagazer

Manish Singh / TechCrunch:
Indian streaming service JioCinema launches an ad-free subscription plan with the lowest tier costing $0.35/month for a single device, undercutting rivals

Murray Stassen / Music Business Worldwide:
Warner Music Group sells Uproxx, HipHopDX, and other assets to a new company, Uproxx Studios, formed by Jarret Myer, Rich Antoniello, and will.i.am

New York Times:
Sources detail NPR's struggles with declining audiences, falling sponsorship revenue, internal conflicts over turning things around, and a diversity push

More News

Foo Yun Chee / Reuters:
TikTok is suspending the rewards program in TikTok Lite while it tries to resolve EU concerns about the potentially addictive nature of the program for children

Earlier Picks

Ingrid Lunden / TechCrunch:
Stripe says some of its products will be available to companies that are using other payments providers, and unveils new embedded finance features and AI tools
Aisha Malik / TechCrunch:
WhatsApp rolls out passkey support on iOS, removing the need for users to deal with SMS one-time passcodes, six months after introducing the feature on Android
Meir Orbach / CTech:
Nvidia acquires AI infrastructure orchestration and management service Run:ai, a source says for ~$700M; Run:ai, founded in 2018, had raised $118M to date
Tom Warren / The Verge:
Microsoft begins rolling out Windows 11 Start menu ads that show app “recommendations” from “a small set of curated developers”; users can disable the ads
Wall Street Journal:
The US FTC bans noncompete clauses that restrict job switching, the first time in 50+ years that the FTC has issued a regulation mandating an economywide change
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