Palantir Plunges 14% After Scaling Back its Annual Forecast
The company generated ample free cash flow despite a net loss, but said it expected fiscal year revenue to grow 23%, down from the 27% guidance it gave last quarter.
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Recent Editions
Salesforce Promotes 23-Year Veteran Millham to COO Role
Salesforce co-founder and co-CEO Marc Benioff is switching leaders for the company's global sales organization.
Allbirds Further Slashes Full Year Guidance Amid Slower Growth & Increased Losses
The popular wool sneaker seller saw its operational costs rise in the second quarter as it continued its aggressive physical store expansion.
Nvidia Issues Revenue Warning for July Quarter, Shares Drop 8%
Nvidia says weakening demand for gaming chips caused it to fall far short of its quarterly revenue targets, although its data center business was strong.
Axios Selling Itself to Cox Enterprises for $525 Million
The digital media outlet, which had raised $55 million since 2016, will continue its push into local news as part of the telecom conglomerate.
SoftBank Reports Record $23.4 Billion Loss on Stock Market Rout
During the quarter through June, the sharp decline of tech stocks dealt a severe blow to Vision Fund's vast portfolio.
Baidu Wins Approval for China’s First Fully Driverless Robotaxi Services
Over the past year, China's local governments have become more supportive of autonomous driving services by issuing permits and licenses.
Upper90 Closes $180 Million Fund for Asset-Based Startup Lending
The fund is the latest targeting debt-based financing for startups
Voyager Digital to Allow Customers to Withdraw Money Next Week
The now-bankrupt crypto lender has frozen customer assets since early July as token prices have tanked.
Amazon’s Shopping Spree Continues With $1.7 Billion Purchase of iRobot
Amazon’s shopping spree continued Friday with the acquisition of iRobot, the company behind the Roomba vacuum.
Block Shares Fall After Revenue Sinks and Cash Flow Turns Negative
The company’s payments volume increased, but did not meet analyst expectations.
DoorDash Revenue and Order Volume Climbs, Boosted by Wolt Deal
The delivery company’s stock climbed in after-hours trading.
Warner Bros. Discovery Considers Free, Ad-Supported Streaming Service
The newly merged entertainment conglomerate boasted a total of 92.1 million total streaming subscribers in the second quarter.
BigCommerce Plans to Break Even in Two Years
The e-commerce software company has incurred higher operating costs in recent quarters but is seeing upsides in a strategy pivot.
Lyft Stock Climbs on Ride Hailing Rebound
The San Francisco-based company said ride-hailing neared pre-pandemic levels.
Coinbase Stock Jumps After BlackRock, Instagram Announcements
Partnering with BlackRock could be a significant step for Coinbase in expanding its institutional customer base
Alibaba Reports Flat Revenue But Beats Market Estimates
In the quarter through June, Shanghai's lockdown and other Covid-19 restrictions in China dealt a serious blow to the e-commerce giant's business.
SoftBank Raises $22 Billion From Sales of Alibaba Derivatives
The derivatives allow the Japanese tech investment firm to raise cash while retaining the possibility of eventually holding on to its Alibaba shares.
Apple Job Posting Hints at Advertising Ambitions
The hardware and software giant is looking for someone to create a platform that will help advertisers buy ads across Apple’s web of services
Commerce Investor VMG Catalyst Raises $400 Million for Second Fund
Even smaller venture capital shops are proving they can lure fresh capital amid the tech downturn.
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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