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
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
Tesla’s next earnings report will be released after the closing bell, and many of the usual topics are on investors’ collective radar, with one big addition: SpaceX. The second-quarter report, which will be released after the closing bell on Wednesday, is Tesla’s first since Elon Musk’s other big company went public last month. Expect analysts
