Articles from www.reuters.com

Articles from www.reuters.com

A look at Vietnam's expansion in the $95B chip packaging industry; report: the country is expected to have 8%-9% of the global share by 2032, up from 1% in 2022 (www.reuters.com)
2024-11-14 Vietnam

CoreWeave closed a $650M secondary share sale led by Jane Street, Magnetar, Fidelity Management, and Macquarie Capital, a source says at a $23B valuation (www.reuters.com)
2024-11-14

South Korea arrests 215 people on suspicion of stealing $228M in crypto, the country's biggest crypto investment scam with 28 types of tokens sold to 15K people (www.reuters.com)
2024-11-14 Korea

A US judge rules that Meta must face trial in a US FTC lawsuit seeking its break up over claims that it bought Instagram and WhatsApp to crush competitors (www.reuters.com)
2024-11-14 Instagram WhatsApp

Donald Trump says Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency, to provide “advice and guidance from outside of Government” (www.reuters.com)
2024-11-13 Trump Elon Musk

Spotify reports Q3 revenue up 19% YoY to €3.99B, vs. €4.02B est., MAUs up 11% to 640M, and forecasts Q4 profit and MAUs above est.; SPOT jumps 8%+ after hours (www.reuters.com)
2024-11-13 4Q Spotify

Grab reports Q3 revenue up 17% YoY to $716M, vs $700.8M est., a $15M profit, and raises its forecast for fiscal 2024 revenue; GRAB jumps 10%+ after hours (www.reuters.com)
2024-11-12

Ilya Sutskever says “we're back in the age of wonder and discovery” as AI companies focus on pre-training, inference improvements, and finding the “next thing” (www.reuters.com)
2024-11-12 AI

Sources: Amazon is developing smart glasses for its delivery drivers to guide them to, around, and within buildings, but the tech may take years to perfect (www.reuters.com)
2024-11-12 Amazon

Source: the US ordered TSMC to halt shipments of AI chips, of 7nm or more advanced designs, to Chinese customers starting on November 11 (www.reuters.com)
2024-11-10 China AI

Swiggy closes an oversubscribed ~$1.4B IPO, as investors bet on a quick commerce boom; analysts expect the company to make a muted stock market debut next week (www.reuters.com)
2024-11-9 IPO

Sources: Trump's transition team is considering Dan Gallagher, an ex-SEC commissioner and Robinhood's current legal chief, as SEC chair replacing Gary Gensler (www.reuters.com)
2024-11-8 Trump

A US judge dismisses a copyright lawsuit by Raw Story and AlterNet against OpenAI over AI training, saying they couldn't show enough harm to support the lawsuit (www.reuters.com)
2024-11-8 AI

Cloudflare reports Q3 revenue up 28% YoY to $430.1M, vs. $424.1M estimated, and forecasts Q4 revenue below estimates; NET drops 7%+ after hours (www.reuters.com)
2024-11-8 4Q

SMIC reports Q3 revenue up 34% YoY to ~$2.17B, vs $2.2B est., and net income up 58.3% YoY to ~$148.8M, below $199.71M est., as the chip sector recovers (www.reuters.com)
2024-11-7

CRM software maker Freshworks plans to cut 13% of its workforce, or 660 employees, after reporting Q3 revenue up 22% YoY to $186.6M, vs. $181.6M average est. (www.reuters.com)
2024-11-7 CRM

Take-Two reports Q2 net bookings up 2% YoY to $1.47B, vs. $1.43B est., net revenue up 4% to $1.35B, and sells its Private Division label to an unnamed buyer (www.reuters.com)
2024-11-7

Bumble reports Q3 revenue down 0.7% YoY to $273.6M, vs. $271.9M est., its first quarterly sales drop since going public in 2021, and 4.3M total paying users (www.reuters.com)
2024-11-7

Canada orders the windup of TikTok's Canadian business citing national security risks, and says it's not blocking Canadians' access to the app (www.reuters.com)
2024-11-7 Canada

Match Group reports Q3 revenue up 2% YoY to $895M, vs. $900.9M est., paying users down 3% to 15.2M, forecasts Q4 revenue below est.; MTCH drops 12%+ after hours (www.reuters.com)
2024-11-7 4Q

Lyft reports Q3 revenue up 32% YoY to $1.52B, vs. $1.44B est, gross bookings up 16% to $4.1B, forecasts Q4 gross bookings above est.; LYFT jumps 20% after hours (www.reuters.com)
2024-11-7 4Q

Polymarket and Kalshi expect to pay out ~$450M total to US election bettors; Kalshi says 28K bet on Harris, 40K on Trump; one Polymarket user bet $40M on Trump (www.reuters.com)
2024-11-7 Trump

Sources: the US has recently renewed calls for Italy to repeal its domestic web tax, which applies to Meta, Google, and Amazon and raises under €500M per year (www.reuters.com)
2024-11-6 Italy Google Amazon Tax

GlobalFoundries reports Q3 revenue down 6% YoY to $1.7B and expects Q4 revenue of $1.8B-$1.85B, vs. $1.8B est., driven by smartphone chip demand; GFS jumps 11%+ (www.reuters.com)
2024-11-6 4Q

French judicial source: investigators searched Netflix's offices in France and the Netherlands as part of a preliminary investigation into tax fraud laundering (www.reuters.com)
2024-11-5 France Tax Netflix Netherlands

Robinhood, Kraken, and others unveil the Global Dollar Network to accelerate stablecoin usage and launch USDG, a Paxos-issued stablecoin pegged to the US dollar (www.reuters.com)
2024-11-5

Palantir reports Q3 revenue up 30% YoY to $725.5M, vs. $701.1M est., and raises 2024 revenue forecast again on robust AI adoption; PLTR jumps 11%+ after hours (www.reuters.com)
2024-11-5 AI

Shenzhen-based autonomous driving startup DeepRoute.ai raised $100M from an unnamed Chinese automaker, and plans to launch 10+ models with clients in 2025 (www.reuters.com)
2024-11-4 China Startup AI Shenzhen

The US fines GlobalFoundries $500K and says it sent 74 shipments worth $17.1M to SJ Semiconductor, an affiliate of SMIC, without seeking a license (www.reuters.com)
2024-11-4

Filing: US regulators rejected a proposal to let Amazon buy nuclear power for AWS data centers in Pennsylvania over energy grid reliability and other concerns (www.reuters.com)
2024-11-3 Amazon Energy

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