How Microsoft Swallowed Its Pride to Make a Massive Bet on OpenAIRead more

Briefing

Paramount Global Slashes Dividend as Streaming Costs Mount

By
Martin Peers
· · Source: The Information

Paramount Global’s streaming expansion ate into its first quarter profits, the TV company reported on Thursday, prompting the company to slash its dividend 79% and sending its stock down 27%. The results  demonstrated the financial balancing act that traditional TV firms are walking right now between streaming’s costly growth and cable’s decline. The company reported a 0.9% drop in revenues to...

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Deals startups google
Google Invests in AI Startup Runway to Wrest Cloud Business From AWS
By Kate Clark, Jon Victor, Amir Efrati and Erin Woo · May 31, 2023 2:47 PM PDT
Google CEO Sundar Pichai. Photo: Bloomberg.
Google is investing in Runway, a New York–based startup that lets customers generate video from text descriptions using artificial intelligence it pioneered, at a valuation of around $1.5 billion including the new capital, according to two people familiar with the matter. The investment, part of a roughly $100 million funding round, underscores the fierce competition among cloud providers...
Latest Briefs
 
Software Cost Management Startup Vendr Lays Off 25%
By Kevin McLaughlin · May 31, 2023
Amazon Employees Walk Out Over Office Mandate, Climate Policies
By Theo Wayt · May 31, 2023
Amazon’s Data Center Chief Departs
By Anissa Gardizy · May 31, 2023
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Microsoft's Satya Nadella, left, and Peter Lee. Photo by Bloomberg, Microsoft
Exclusive
How Microsoft Swallowed Its Pride to Make a Massive Bet on OpenAI
By Aaron Holmes
Satya Nadella didn’t want to hear it. Last December, Peter Lee, who oversees Microsoft’s sprawling research efforts, was briefing Nadella, Microsoft’s CEO, and his deputies about a series of tests Microsoft had conducted of GPT-4, the then-unreleased new artificial intelligence large-language model built by OpenAI.
Art by Clark Miller
The AI Age e-commerce ai
How to Grease a Chatbot: E-Commerce Companies Seek a Backdoor Into AI Responses
By Chris Stokel-Walker
When Andy Wilson’s company received its first successful client referral through ChatGPT, he was shaken to his core.
Chris Britt, co-founder and CEO of Chime.
Exclusive startups Finance
Chime’s Slowdown Highlights Limits of Bank Disruptors
By Mark Matousek and Erin Woo
Chime found a way to offer zero-fee banking services without being a bank itself. But that approach is starting to show its limits.
Art by Clark Miller.
Exclusive startups crypto
MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
By Aidan Ryan
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.
Art by Clark Miller
The Big Read markets Finance
The Master of Destruction Rides Again
By Michelle Celarier
In the spring of 2022, the irascible Wall Street short seller Marc Cohodes was in a particularly foul mood.
Art by Clark Miller.
Social Studies culture
The Day TikTok Went Dark in India
By Amanda Florian
On June 29, 2020, as thunderstorms swept Mumbai and daily Covid-19 cases in India surged by almost 20,000, millions of people began experiencing a flood of network errors on their mobile devices.