On Wednesday, IBM officially reported its earnings and the news was as bad as everyone knew it would be. While the 115-year-old company still generates large amounts of cash ($17.2 billion in revenue, $9.9 billion in gross profit, nearly 58% margins and $2.2 billion in net profit for the quarter), its results fell well short
Alphabet investors have publicly worried that the company’s huge AI spending isn’t worth it. With the company’s latest earnings report, those investors should be able to relax a bit. The bottom line: Google’s cloud business, driven largely by the adoption of enterprise AI, is booming. The search giant saw Google Cloud revenue increase 82% from
US Treasury Secretary Scott Bessent doubled down on his warnings to Chinese AI companies on Wednesday, saying sanctions remain on the table after a White House official accused Moonshot of improperly distilling Anthropic’s Fable model. Model distillation is a common AI training technique in which a smaller model learns from the results of a larger
Tesla no longer plans to reach “volume production” of three of its newest products (the Cybercab, the Tesla Semi and its Megapack 3 commercial energy storage solution) in 2026, according to a second-quarter shareholder letter released Wednesday. The company also removed language from its first-quarter letter about its Optimus robot reaching “volume production.” The company
SoundCloud announced on Wednesday that it acquired Nina Protocol, a decentralized music platform that allowed independent artists to sell music directly to their fans while keeping 100% of their revenue. Financial terms of the deal were not disclosed. It’s also unclear if any members of Nina’s team will join SoundCloud. The company has not yet
Science Corporation, a startup developing new brain-computer interfaces (BCIs), has won approval from Europe’s medical device regulator to begin selling a device that restores vision lost due to age-related macular degeneration. The company said the device, called PRIMA, also received a designation from the U.S. Food and Drug Administration, which is the first step toward
