Alibaba Sells Down Stake in Chinese Video Firm Bilibili
While selling some of its assets, the Chinese e-commerce and cloud computing giant is ramping up investments in artificial intelligence.
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IPO Mania for Reddit, Astera
Reddit's IPO “pop” was bigger than Snap’s in 2017 and Pinterest’s in 2019.
Justice Department Sues Apple
The long-expected lawsuit means that four major tech firms are now being sued by the federal government on antitrust grounds
Former Alibaba CEO Joins Chinese Investment Firm
Daniel Zhang, who stepped down as CEO and chair last year, has joined Firstred Capital, whose fund will be backed by Alibaba.
Justice Department Could Sue Apple Thursday Over Antitrust Issues
The move comes amid criticism from competitors that Apple's tweaks to the App Store in the U.S. and Europe to satisfy regulators don't go far enough.
Reddit Prices IPO at $34 a Share, Reflecting Strong Demand
Reddit priced its shares at $34 a piece, implying a valuation of $6.4 billion, as it prepares to list publicly Thursday, a person familiar with the matter said.
Meta, Microsoft and Musk’s X Team Up to Fight Apple in Court
The tech companies complain that Apple's recent changes to App Store rules, which respond to a 2021 court ruling, breach the ruling and will drive up prices.
Equinix Stock Falls After Hindenburg Research Report
The report raised questions about the company’s accounting practices, as well as ability to generate revenue from the artificial intelligence boom.
Apollo Reportedly Makes $11 Billion Bid for Paramount’s Studio
Apollo's bid is just for Paramount's film and TV studio and joins a competing bid from David Ellison's Skydance Media for the whole company.
Temu Owner PDD Holdings’ Quarterly Revenue More Than Doubled
The e-commerce giant spent 50% more on marketing than a year earlier, likely due to Temu’s ad blitz.
China’s Tencent Plans to Double Share Buybacks This Year
The Chinese tech giant is trying to shore up investor confidence amid uncertainties over China's economy and the outlook for its videogame business.
U.S. Mulls Blacklisting Chinese Chip Firms Tied to Huawei
Such a move would be part of Washington's ongoing effort to undermine Beijing's attempt to develop more advanced chips.
Apple CEO Tim Cook Visits China Amid Shrinking Sales
Cook’s visit comes amid shrinking sales in China, brought on by a slowing economy and tough competition from Huawei and other Chinese brands.
Saudi Arabia’s Public Investment Fund, Andreessen Horowitz Discuss Partnership
Andreessen Horowitz has discussed teaming with Saudi sovereign wealth fund on AI fund
Microsoft Hires Suleyman, Co-founder of DeepMind, to Lead Bing and AI Efforts
The move brings one of Microsoft’s would-be rivals into the fold.
Marc Lore’s Food Delivery Startup, Wonder, Raises $700 Million
In early 2023, Wonder ditched its original model of preparing food inside trucks that park in customers’ driveways.
Meta Offers to Cut EU Subscription Fees to Address Regulator Concern
It’s unclear if the price drop will go ahead.
Ant Group Reorganizes Business Units, Appoints New President
Three units will set up their own board of directors and operate independently
George Lucas Backs Disney in Proxy Fight with Nelson Peltz
The Star Wars creator, in a statement provided by Disney, said he has "full faith and confidence" in Disney and CEO Bob Iger's track record.
Google’s Reid Becomes New Search Chief
It's the second major executive shuffle for Google’s core search business in the last four months.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
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