Articles from www.reuters.com

Articles from www.reuters.com

Donald Trump says Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency, to provide “advice and guidance from outside of Government” (www.reuters.com)
2024-11-13 Trump Elon Musk

Spotify reports Q3 revenue up 19% YoY to €3.99B, vs. €4.02B est., MAUs up 11% to 640M, and forecasts Q4 profit and MAUs above est.; SPOT jumps 8%+ after hours (www.reuters.com)
2024-11-13 4Q Spotify

Grab reports Q3 revenue up 17% YoY to $716M, vs $700.8M est., a $15M profit, and raises its forecast for fiscal 2024 revenue; GRAB jumps 10%+ after hours (www.reuters.com)
2024-11-12

Ilya Sutskever says “we're back in the age of wonder and discovery” as AI companies focus on pre-training, inference improvements, and finding the “next thing” (www.reuters.com)
2024-11-12 AI

Sources: Amazon is developing smart glasses for its delivery drivers to guide them to, around, and within buildings, but the tech may take years to perfect (www.reuters.com)
2024-11-12 Amazon

Source: the US ordered TSMC to halt shipments of AI chips, of 7nm or more advanced designs, to Chinese customers starting on November 11 (www.reuters.com)
2024-11-10 China AI

Swiggy closes an oversubscribed ~$1.4B IPO, as investors bet on a quick commerce boom; analysts expect the company to make a muted stock market debut next week (www.reuters.com)
2024-11-9 IPO

Sources: Trump's transition team is considering Dan Gallagher, an ex-SEC commissioner and Robinhood's current legal chief, as SEC chair replacing Gary Gensler (www.reuters.com)
2024-11-8 Trump

A US judge dismisses a copyright lawsuit by Raw Story and AlterNet against OpenAI over AI training, saying they couldn't show enough harm to support the lawsuit (www.reuters.com)
2024-11-8 AI

Cloudflare reports Q3 revenue up 28% YoY to $430.1M, vs. $424.1M estimated, and forecasts Q4 revenue below estimates; NET drops 7%+ after hours (www.reuters.com)
2024-11-8 4Q

SMIC reports Q3 revenue up 34% YoY to ~$2.17B, vs $2.2B est., and net income up 58.3% YoY to ~$148.8M, below $199.71M est., as the chip sector recovers (www.reuters.com)
2024-11-7

CRM software maker Freshworks plans to cut 13% of its workforce, or 660 employees, after reporting Q3 revenue up 22% YoY to $186.6M, vs. $181.6M average est. (www.reuters.com)
2024-11-7 CRM

Take-Two reports Q2 net bookings up 2% YoY to $1.47B, vs. $1.43B est., net revenue up 4% to $1.35B, and sells its Private Division label to an unnamed buyer (www.reuters.com)
2024-11-7

Bumble reports Q3 revenue down 0.7% YoY to $273.6M, vs. $271.9M est., its first quarterly sales drop since going public in 2021, and 4.3M total paying users (www.reuters.com)
2024-11-7

Canada orders the windup of TikTok's Canadian business citing national security risks, and says it's not blocking Canadians' access to the app (www.reuters.com)
2024-11-7 Canada

Match Group reports Q3 revenue up 2% YoY to $895M, vs. $900.9M est., paying users down 3% to 15.2M, forecasts Q4 revenue below est.; MTCH drops 12%+ after hours (www.reuters.com)
2024-11-7 4Q

Lyft reports Q3 revenue up 32% YoY to $1.52B, vs. $1.44B est, gross bookings up 16% to $4.1B, forecasts Q4 gross bookings above est.; LYFT jumps 20% after hours (www.reuters.com)
2024-11-7 4Q

Polymarket and Kalshi expect to pay out ~$450M total to US election bettors; Kalshi says 28K bet on Harris, 40K on Trump; one Polymarket user bet $40M on Trump (www.reuters.com)
2024-11-7 Trump

Sources: the US has recently renewed calls for Italy to repeal its domestic web tax, which applies to Meta, Google, and Amazon and raises under €500M per year (www.reuters.com)
2024-11-6 Italy Google Amazon Tax

GlobalFoundries reports Q3 revenue down 6% YoY to $1.7B and expects Q4 revenue of $1.8B-$1.85B, vs. $1.8B est., driven by smartphone chip demand; GFS jumps 11%+ (www.reuters.com)
2024-11-6 4Q

French judicial source: investigators searched Netflix's offices in France and the Netherlands as part of a preliminary investigation into tax fraud laundering (www.reuters.com)
2024-11-5 France Tax Netflix Netherlands

Robinhood, Kraken, and others unveil the Global Dollar Network to accelerate stablecoin usage and launch USDG, a Paxos-issued stablecoin pegged to the US dollar (www.reuters.com)
2024-11-5

Palantir reports Q3 revenue up 30% YoY to $725.5M, vs. $701.1M est., and raises 2024 revenue forecast again on robust AI adoption; PLTR jumps 11%+ after hours (www.reuters.com)
2024-11-5 AI

Shenzhen-based autonomous driving startup DeepRoute.ai raised $100M from an unnamed Chinese automaker, and plans to launch 10+ models with clients in 2025 (www.reuters.com)
2024-11-4 China Startup AI Shenzhen

The US fines GlobalFoundries $500K and says it sent 74 shipments worth $17.1M to SJ Semiconductor, an affiliate of SMIC, without seeking a license (www.reuters.com)
2024-11-4

Filing: US regulators rejected a proposal to let Amazon buy nuclear power for AWS data centers in Pennsylvania over energy grid reliability and other concerns (www.reuters.com)
2024-11-3 Amazon Energy

Intel scraps forecast of selling $500M+ worth of Gaudi AI accelerator chips in 2024, with CEO Pat Gelsinger citing chip transition and slower uptake to software (www.reuters.com)
2024-11-2 Intel AI

Disney forms the Office of Technology Enablement to coordinate its use of emerging technologies such as AI and mixed reality, to be led by CTO Jamie Voris (www.reuters.com)
2024-11-2 AI

Chinese researchers linked to the People's Liberation Army developed an AI model using Llama 2 for potential military use; Meta says such use is “unauthorized” (www.reuters.com)
2024-11-1 China AI

The Biden admin unveils an $825M investment in an Albany-based chip research and development facility; the NTSC says the facility aims to drive EUV innovation (www.reuters.com)
2024-11-1

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