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Archive
Meta revenue +3% YoY to $28.6B, operating margin falls from 31% to 25%
Top stories today: 1. Meta revenue +3% YoY to $28.6B, VR revenue -51% 2. UK regulator rejects Microsoft, Activision deal 3. Elon meets with Schumer on AI regulation 4. House passes GOP debt ceiling bill by 217-215 5. Trump 53% x DeSantis 21% in latest Fox poll

First Republic Bank drops 49%, could be shut down on Friday
Top stories today: 1. First Republic Bank drops 49%, could be shut down on Friday 2. Alphabet sales +3% to $69.8B, operating margin falls from 30% to 25% 3. Microsoft sales +7% to $52.9B, operating margin rises from 41% to 42% 4. Hugging Face launches HuggingChat 5. ChatGPT lets users disallow their data to be used for training 6. GOP bill to cut debt-to-GDP from 118% to 106% in 2033

Apple wins Epic Games antitrust appeal, but will likely allow 3rd party app stores anyway
Top stories today: 1. Apple wins Epic Games antitrust appeal 2. Microsoft may stop force-bundling Teams into Office 3. Tucker Carlson fired from Fox for election fraud coverage, lawsuit, messages 4. First Republic loses 41% of deposits in Q1, even as banks inject $30B

Apple to launch a wide range of apps for its headset
Top stories today: 1. Apple aims to launch a wide range of apps for its headset 2. Google moves AI chips team to Google Cloud 3. Twitter blue checkmarks reappear for some celebrities and media companies 4. NBC poll: Trump 46% x DeSantis 31%

Google merging Brain with Deepmind into Google Deepmind
Top stories today: 1) Google merging Brain with Deepmind into Google Deepmind 2) Elon claims success from Starship launch that ended in an explosion 3) Humane demos AI-powered wearable at TED talk 4) Tiger's $12B 2021 venture capital is down "only" 20% since inception 5) VC funding in crypto falls 82% YoY to $1.7B
Stability AI launches new open source LLMs, but disappoints
Top stories today: 1. Stability AI launches new open source LLMs, but disappoints 2. Google to launch generative AI for ads in the coming months 3. Tesla's operating margin falls from 19% to 11% 4. Coinbase to launch offshore exchange "in coming weeks"
Microsoft is developing its own AI chip, Athena
Top stories today: 1) Microsoft is developing its own AI chip, Athena 2) Dominion settles with Fox News for $787.5M 3) Apple's headset to feature gaming, fitness, sports, and most core iPad apps 4) Meta expected to cut another 4K; 29% of cuts since peak