A day after Snap reached a tentative settlement with the plaintiff in a social media addiction lawsuit, leaving Meta as the only remaining defendant, the case was dropped. In a statement, Meta said the plaintiff decided to drop his case against Meta without receiving any payment. TikTok and Google’s YouTube had previously reached settlement agreements
Imagine earning almost an extra $100 billion and dedicating exactly one vague sentence to it. That’s exactly what Google’s parent company, Alphabet, did in its second quarter earnings report. The tech giant reported that its “other income” amounted to $98 billion in the second quarter, saying it came from unrealized gains on its investments. Analysts
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
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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
