IBM to Buy Hashicorp for $6.4 Billion
HashiCorp went public in late 2021 at an IPO price of $80, but lately it has traded as low as $21, amid heavy losses.
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Meta’s Revenue Rises 27% in the First Quarter
The company forecast slower revenue growth in the second quarter and increased its expected capital expenditures for 2024.
ServiceNow Reports 24% Revenue Growth
CEO Bill McDermott said the company's new generative AI tool is “undeniably the most successful new product we have launched."
TikTok Halts Rewards Program Following EU Probe
TikTok suspended the rewards program of its new TikTok Lite app in Europe after regulator concerns.
TikTok Executives to Staff: Stay Focused Amid Ban Threat
Executives told staff that the way TikTok would fail would be by not continuing to grow its platform.
DOJ Seeks Three-Year Sentence for Binance Founder Zhao
Lawyers for Changpeng Zhao argue he should get probation instead
Nvidia Buys GPU Software Startup to Boost DGX Cloud Offering
The deal is another move by CEO Jensen Huang to diversify the company’s revenue streams from chips to software.
Google Delays Phase-Out of Browser Trackers to Next Year
Google said in a statement that it had received “divergent feedback from the industry, regulators and developers” on Privacy Sandbox.
Congress Passes TikTok Bill, Aid Package
The bill now passes to President Joe Biden, who has already said that he would sign it.
FTC Bans Noncompetes Nationwide
The ban blocks employment contracts which prevent workers from joining rival companies or starting similar businesses.
Tesla Revenue Declines 9% as Vehicle Sales Slow
Gross profits also fell 19%, the electric vehicle maker reported.
IBM in Talks to Buy Hashicorp
Shares of Hashicorp rose 23% on the potential acquisition news
Walmart-Backed Fintech Launches Buy Now, Pay Later Loans
The launch puts One in more direct competition with other installment lenders like Affirm.
Amazon Changes Grocery Fees Again With $10 Monthly Delivery Subscription
It’s the latest in a series of changes Amazon has made to its grocery fees over the past few years.
Microsoft Debuts New Open-Source Small AI Model
Phi-3 was trained with carefully-selected data scraped from the internet as well as text generated by other large-scale AI models such as OpenAI’s GPT-4.
Price Increases Lift Spotify’s Revenue and Bottom Line
Spotify reported 20% higher revenue in the first quarter, and a healthier operating profit than it has demonstrated in some time.
Google Terminates Another 20 Employees Who Protested Israel Contract
The move raised the number of terminated employees to around 50.
Creator Startup Featured on Takeover List Sells Flagship Product
The target is one of dozens of creator startups that hadn't raised money since 2021, setting themselves up for a cash crunch.
Amazon to Add Drone Delivery in Arizona, End Service in California
Amazon’s drone delivery program, which dates back to at least 2013, has been slow to expand due in part to restrictions from the Federal Aviation Administration.
Weekday mornings
The Information AM by The Information Staff
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