Intel Reports $16.6 Billion Loss Amid Restructuring
Results come amid Intel's cost-cutting efforts, which include cutting some 15,000 jobs and slashing marketing and R&D spending.
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Amazon Web Services Reports Steady Growth
Amazon shares rose 5% in after-hours trading on Thursday.
Waymo Fetches $45 Billion Valuation and Grows Market Share
Waymo, a unit of Alphabet that makes self-driving cars, was valued at $45 billion by investors in its latest financing.
OpenAI’s ChatGPT Adds Search Features in Challenge to Google
OpenAI teased the search capabilities in July with its SearchGPT product.
Microsoft CEO Nadella Hires Ex-Lacework CEO and Facebook Engineering Exec
Parikh most recently led Lacework, which sold to Fortinet for around $200 million in August.
Comcast Considers Spinning Off Cable Networks
Comcast's disclosure highlights how all the major TV companies are rethinking the position of cable channels in their portfolios.
DoorDash Strikes Marketing Partnership with Lyft
Customers of DoorDash and Lyft can get discounts on each other's services, an effort by the companies to better compete with Uber.
Uber Lifts Revenue 20% Despite Slowing Growth in Ride Hailing
Uber's delivery business got the benefit of higher advertising revenues, while its growth was stable.
Peloton Names Former Apple Executive Peter Stern as CEO
Stern is joining Peloton as its business has stabilized after a severe decline in the past few years.
Google Confirms $2.7 Billion Deal to Hire Character Co-Founders
The payout is extraordinary, considering it essentially aimed to get Character cofounder Noam Shazeer, a pioneer of conversational AI, back into Google in a leadership role.
Coinbase Plans Share Buyback After Fourth Straight Quarterly Profit
The exchange has been working to deliver steadier profits during crypto market swings.
Microsoft Revenue Rises 16% But Cloud Server Rental Growth Slows
Azure revenue rose 33% year over year, which CEO Satya Nadella attributed to “AI-driven transformation” among customers.
Volvo Takes Ownership of Swedish Battery Plant From Troubled Northvolt
Volvo said Northvolt had not made promised payments toward a joint venture
Super Micro Shares Plunge After Auditor Resigns
EY’s resignation is the latest sign of accounting trouble at the computer hardware company.
Kraken Announces Co-CEO Hire, Lays Off Staff
The crypto exchange said its net revenue has reached more than $1 billion.
Meta’s Revenue Rises 19% in the Third Quarter
Growth slowed from the second quarter, when Meta posted annual revenue growth of 22%.
Reddit Stock Soars 42% In Wake of Strong Earnings
Most of the revenue growth flowed from sharply higher advertising revenues, largely due to a big expansion in the number of daily visitors to the service.
Dropbox, Miro Lay Off Staff As Enterprise Slowdown Continues
Dropbox and Miro said Wednesday that each would lay off around a fifth of their employees.
EU Set to Launch Temu Probe Over Illegal Products
The probe would mark another regulatory inquiry into Temu’s safety practices.
ByteDance Founder Is China’s Richest Person
Zhang Yiming, who stepped down as ByteDance's CEO and chair in 2021, continues to own a stake in the company.
Weekday mornings
The Information AM by The Information Staff
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