Articles from www.bloomberg.com

Articles from www.bloomberg.com

Reserve Bank of India says it is not planning harsher rules to curb the country's fintech sector, weeks after abruptly suspending Paytm Payments Bank operations (www.bloomberg.com)
2024-2-16 India Fintech

The FTC proposes new rules that would make companies liable if they “know or have reason to know” their AI tech is being used to harmfully impersonate consumers (www.bloomberg.com)
2024-2-16 AI

The US and its allies disrupt access by Russia-backed hacking group APT28, or Fancy Bear, to 1,000+ home and small business routers used for criminal purposes (www.bloomberg.com)
2024-2-16 Russia

Toast plans to lay off ~550 employees, or ~10% of its workforce, to promote “operating expense efficiency” and will incur about $50M in costs such as severance (www.bloomberg.com)
2024-2-16

Coinbase reports Q4 revenue up 51% YoY to $953.8M, vs. $826M est., net income of $273M, its first profit in two years, vs. a loss of $557M YoY; COIN jumps 10%+ (www.bloomberg.com)
2024-2-16 4Q Coinbase

Sources: Apple has expanded testing of a Copilot-like tool for Xcode and is exploring AI features for productivity apps and a Spotlight search that uses LLMs (www.bloomberg.com)
2024-2-16 AI Apple

Lambda, which offers cloud computing services and computers to train AI, raised $320M led by Thomas Tull's US Innovative Technology at a $1.5B valuation (www.bloomberg.com)
2024-2-16 AI

Microsoft President Brad Smith says the company plans to invest €3.2B in Germany in the next two years with a focus on AI, its biggest German investment ever (www.bloomberg.com)
2024-2-16 Germany Microsoft AI

TSMC rises ~8% in its first post-Lunar New Year trading session, reaching a record $575B market cap and passing Visa as the world's 12th most valuable company (www.bloomberg.com)
2024-2-15

Sources: Italian app developer Bending Spoons raised $155M from Baillie Gifford and more at a $2.6B valuation, after raising $100M in 2023, and seeks M&A deals (www.bloomberg.com)
2024-2-15 Italy

Japanese chipmaker Renesas agrees to acquire PCB design software company Altium for ~$5.9B in cash, a 33.6% premium on Altium's February 14 closing price (www.bloomberg.com)
2024-2-15 Japan

Nvidia passed Alphabet on February 14 as the third most valuable US company and the world's fourth with a market cap of ~$1.83T, one day after overtaking Amazon (www.bloomberg.com)
2024-2-15 Amazon Nvidia Alphabet

Meta appoints Hock E. Tan, president and CEO of Broadcom, and philanthropist John Arnold, co-founder of Arnold Ventures, to its board, effective immediately (www.bloomberg.com)
2024-2-15

YC releases a new list of 20 types of startups the accelerator wants to join its program, the biggest overhaul of its Request for Startups since 2018 (www.bloomberg.com)
2024-2-15 Startup

Google partners with the Environmental Defense Fund to help track and attribute methane emissions observed by the MethaneSAT satellite, set to launch in March (www.bloomberg.com)
2024-2-15 Google

Google's TAG says a pro-Palestinian hacking group targeted Israeli software engineers to download malware ahead of October 7, in an attack dubbed Blackatom (www.bloomberg.com)
2024-2-14 Israel Google

Uber plans to buy back $7B in shares, a first for the company, after achieving operating profit and consistent positive free cash flow in 2023; UBER rises 4%+ (www.bloomberg.com)
2024-2-14 Uber

ASML CFO Roger Dassen says the chip market “has now reached the lowest point of the dip” and “the recovery is nascent”; ASML's top client spent €8.78B in 2023 (www.bloomberg.com)
2024-2-14

Sources: Apple's longest-serving senior industrial designer, Bart Andre, told colleagues this month that he is retiring; Andre joined in 1992 alongside Jony Ive (www.bloomberg.com)
2024-2-14 Apple

Sony reports Q3 revenue up 22% YoY to ~$25.11B, operating income up 10% YoY to ~$3.1B, meeting est., and 8.2M PS5s sold, roughly 1M units lower than projected (www.bloomberg.com)
2024-2-14 Sony

SoftBank Vision Funds co-CEO Alex Clavel says the fund is “looking very carefully” at generative AI firms, as SoftBank embraces a cautious investment approach (www.bloomberg.com)
2024-2-14 AI

Lyft reports Q4 revenue up 4% YoY to $1.2B, net loss of $26.3M, vs. $588.1M YoY, active riders up 10% to 22.4M, and Q1 forecast above est.; LYFT jumps 60%+ (www.bloomberg.com)
2024-2-14 4Q

Airbnb reports Q4 revenue up 17% YoY to $2.22B, vs. $2.16B est., Nights and Experiences Booked up 12% YoY to 98.8M, and announces a $6B share buyback (www.bloomberg.com)
2024-2-14 Airbnb 4Q

A look at Adobe's very cautious gambit to add AI to Creative Cloud, pushed by Dall-E and Midjourney, and questions over whether creatives will embrace the tools (www.bloomberg.com)
2024-2-14 AI Adobe

Shopify reports Q4 revenue up 24% YoY to $2.1B, above $2.08B est., and Gross Merchandise Volume up 23% YoY to $75.1B, above $71.6B est.; SHOP drops 10%+ (www.bloomberg.com)
2024-2-13 4Q Shopify

The EU closes its DMA investigation into iMessage and Microsoft Bing, Edge, and Advertising, deciding against regulating the services due to a lack of dominance (www.bloomberg.com)
2024-2-13 Microsoft

ContextLogic agrees to sell the discount online retailer Wish for $173M to Singaporean company Qoo10; Wish had a $14B valuation when it when public in 2020 (www.bloomberg.com)
2024-2-13

Temu bought six Super Bowl ad slots, likely for tens of millions of dollars, to boost US growth; its US observed sales fell 12.5% MoM in Dec. and 4.8% in Jan. (www.bloomberg.com)
2024-2-13

Court documents: HP calculates its Autonomy losses at up to $4B, and says Autonomy's ex-CEO and CFO must pay; Autonomy founder Mike Lynch is awaiting a US trial (www.bloomberg.com)
2024-2-13

Sources: Sudan's paramilitary Rapid Support Forces, which is fighting Sudan's army, has been using Starlink since August 2023, during an internet blackout (www.bloomberg.com)
2024-2-13

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