Shein Boosts First Quarter Revenue to Nearly $10 Billion
The fast-fashion giant also lifted its profit margins to around 5%.
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Recent Editions
Tesla Launches Ride-Hailing Service in San Francisco With Safety Drivers
Tesla is lagging behind Alphabet’s Waymo, which already operates without safety drivers in several U.S. metropolitan areas including San Francisco.
Microsoft Surpasses $4 Trillion Market Cap as AI Business Booms
Microsoft is the second company in history to achieve the milestone, following Nvidia, which crossed $4 trillion in market capitalization earlier this month.
Peacock Subscribers Remain Flat as NBCUniversal’s TV Ad Revenue Declines
Subscription and ad revenue growth for Comcast's Peacock streaming service was unable to offset ongoing declines in NBCUniversal's traditional TV ad business.
Klarna To Revive IPO as Soon as September
Klarna filed for its IPO in March and was seeking to raise at least $1 billion, but paused its efforts following an April market selloff.
UK Antitrust Regulator Says Microsoft, AWS Harm Competition in Cloud
The regulator said it would determine whether to impose remedies on AWS and Microsoft next year.
China Summons Nvidia Over Security Risks of H20 Chips
Nvidia’s business in China has come under scrutiny from both Washington and Beijing.
OpenAI Revenue Hits $12 Billion Annualized Pace
As use grows, the startup has also increased its projections for cash burn.
Figma Notches $19 Billion IPO Valuation
Figma priced its IPO at $33 a share on Wednesday, giving it a $19.3 billion valuation on a fully-diluted basis, and making it one of the most valuable company backed heavily by venture capitalists to go public in years.
Meta’s Revenue Rises 22% in the Second Quarter
The social media giant reported second-quarter profits of $18.3 billion, up 36% from a year earlier.
Microsoft Reports 18% Revenue Growth Driven by Better-Than-Expected Azure Sales
Microsoft's total capex for the past year was $87.9 billion, exceeding the $80 billion it forecast for that period.
Apple Responds to U.S. Antitrust Case
Apple said the case seeks to degrade the iPhone’s privacy and security benefits
JPMorgan and Coinbase Inked Deal to Connect Bank Accounts and Crypto Wallets
This comes as fintech and crypto companies are clashing with banks over fees accessing customers’ account information.
Amazon to Pay New York Times $20 Million a Year in AI Deal
The deal, first announced in May, is the Times’s first AI licensing deal.
Palo Alto Networks to Acquire CyberArk for $25 Billion
CyberArk sells login software, competing with the likes of Okta and Microsoft.
AI Chipmaker Cerebras Seeks $1 Billion in Funding As IPO Stalls
The potential delay would represent a shift for Cerebras CEO Andrew Feldman, who said in May that the company would aim to go public this year.
Groq Cuts Revenue Projections in Span of a Few Months
A Groq spokesperson said the company shifted some revenue projections to 2026 because of a lack of data center capacity
Palo Alto Networks in Talks to Acquire CyberArk for $20 Billion
The deal would be the latest in a string of acquisitions by Palo Alto Networks.
CFPB To Launch New Open Banking Rule
The move comes after JPMorgan unveiled new data-access fees that threw the fintech industry into turmoil.
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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