Articles from www.bloomberg.com

Articles from www.bloomberg.com

Sources: Apple is finalizing a deal with OpenAI to use ChatGPT features in iOS 18; talks with Google to license Gemini are ongoing, but no deal has been reached (www.bloomberg.com)
2024-5-11 IOS Google Apple

Epic v. Apple: Apple says it received just 38 applications to use its outside payments option for the App Store, out of ~65K app devs that offer in-app payments (www.bloomberg.com)
2024-5-11 Apple

Memo: Spotify's head of podcast studios Julie McNamara is leaving the company after nearly three years, emphasizing Spotify's reduced ambitions in podcasts (www.bloomberg.com)
2024-5-10 Spotify

Filings: SoftBank's Vision Fund has seen its US portfolio shrink by ~$29B since the end of 2021 as, sources say, Masayoshi Son plans forays into AI and chips (www.bloomberg.com)
2024-5-10 AI

Employees say Oracle Health, formerly Cerner, has lost at least 12 of its major clients and product innovation has taken a backseat to upgrading legacy systems (www.bloomberg.com)
2024-5-10 Oracle

The Pentagon says it worked with Ukraine and SpaceX to successfully block Russian military use of Starlink; some Russian users complain of connectivity issues (www.bloomberg.com)
2024-5-10 Russia Ukraine Pentagon SpaceX

Microsoft plans to launch its mobile game store in July on the web, first with its own games including Candy Crush Saga, and later open it to other publishers (www.bloomberg.com)
2024-5-10 Microsoft Mobile

Sources: Apple's first server chips for its upcoming AI features will be the M2 Ultra; simpler AI tasks will be processed directly on iPhones, iPads, and Macs (www.bloomberg.com)
2024-5-10 AI Apple

Reddit releases a new content policy, including a ban on AI data licensees from using deleted posts or comments; Reddit expects $60M+ in 2024 licensing revenue (www.bloomberg.com)
2024-5-10 AI Ban Reddit

Sources: after closing several video game studios, Microsoft plans more cuts, as the massive Activision acquisition has ramped up scrutiny on the Xbox division (www.bloomberg.com)
2024-5-10 Microsoft Xbox

SMIC reports Q1 revenue up 4.3% YoY to $1.75B, vs. $1.69B est., and a $71.8M net income, vs. $76.8M est., as consumer sentiment remains weak in China (www.bloomberg.com)
2024-5-9 China

An interview with Sundar Pichai on playing the long game on AI, how Gemini image generation “got it wrong”, AI search, the US DOJ lawsuits, layoffs, and more (www.bloomberg.com)
2024-5-9 Interview AI Layoffs

Sources: Alphabet has been progressing in talks to acquire marketing software provider HubSpot and has discussed terms; HubSpot has a $30B market cap (www.bloomberg.com)
2024-5-9 Alphabet

Duolingo drops 10%+ after reporting DAUs up 55% YoY to 31.4M, above 31.1M est., gaining users at the slowest rate since Q3 2022, and revenue up 45% YoY to $168M (www.bloomberg.com)
2024-5-9

Sources: Microsoft plans more cuts after closing several game studios, as the massive Activision acquisition has ramped up scrutiny on the Xbox division (www.bloomberg.com)
2024-5-9 Microsoft Xbox

A look at potential successors to Tim Cook; sources say Apple's hardware engineering chief John Ternus is the most likely long-term successor (www.bloomberg.com)
2024-5-9 Apple Tim Cook

Instacart Q1: revenue up 8% YoY to $820M, vs. $794.5M est., gross transaction value up 11% to $8.32B; CFO Nick Giovanni is retiring, replaced by Emily Reuter (www.bloomberg.com)
2024-5-9

Nigeria's Information Ministry says Binance CEO Richard Teng “made false allegations of bribery” against unnamed Nigerian officials, after a $150M bribe claim (www.bloomberg.com)
2024-5-9 Nigeria

Google DeepMind CEO Demis Hassabis says AI breakthroughs in biology research could be a $100B+ business, commercialized via DeepMind spinout Isomorphic Labs (www.bloomberg.com)
2024-5-9 Google AI

Intel expects Q2 revenue to be “below the midpoint” of the previously guided $12.5B to $13.5B range after a new US ban on Huawei chip exports (www.bloomberg.com)
2024-5-8 Intel Ban

Chinese government data: foreign-branded smartphones shipments, most of which are iPhones, grew 12% YoY to 3.75M in March, reversing a 37% drop in early 2024 (www.bloomberg.com)
2024-5-8 China

Shopify reports Q1 revenue up 23% YoY to $1.9B, GMV up 23% YoY to $60.9B, and expects gross margins to drop by ~50 basis points YoY in Q2; SHOP plummets 18%+ (www.bloomberg.com)
2024-5-8 Shopify

Uber reports Q1 revenue up 15% YoY to $10.1B, Gross Bookings up 20% YoY to $37.7B, below $38B est., and adjusted EBITDA up 82% YoY to $1.4B; UBER falls 10%+ (www.bloomberg.com)
2024-5-8 Uber

Microsoft closes the engineering section of its Africa Development Center in Nigeria, two years after its opening, reportedly impacting 100+ engineers (www.bloomberg.com)
2024-5-8 Microsoft Africa Nigeria

Sources: SoftBank is in advanced talks to acquire Graphcore, a struggling UK-based chip startup once valued at $2.8B that reported just $2.7M in 2022 revenue (www.bloomberg.com)
2024-5-8 Startup

TikTok vs. US filing: ByteDance founder Zhang Yiming owns a 21% stake in TikTok's parent company, and is living in Singapore while keeping Chinese citizenship (www.bloomberg.com)
2024-5-8 China Singapore

Sources: Getir faced pressure from investors to cut costs and refocus on Turkey; a source says Mubadala and G Squared have agreed to invest as much as $200M (www.bloomberg.com)
2024-5-8

Coupang reports Q1 revenue up 23% YoY to $7.1B, adjusted EBITDA up 17% YoY to $281M, vs. $283.3M est., and net income down 95% YoY including Farfetch losses (www.bloomberg.com)
2024-5-8

FTX says it will have as much as $16.3B to distribute once it finishes selling all of its assets; it owes customers and other non-governmental creditors ~$11B (www.bloomberg.com)
2024-5-8 Asset

Source: OpenAI is developing a feature for ChatGPT that can search the web and show results with citations to sources and images (www.bloomberg.com)
2024-5-8

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