Tag: Internet Media and Services

Meta Platforms Inc. is developing plans for a cloud infrastructure business that will sell access to AI computing power and models,

Qualcomm is in talks to provide chip-design services to China’s ByteDance, four people familiar with the matter said, as the U.S. company seeks to reduce dependence ​on the smartphone market, its biggest revenue source.

Alphabet will replace Verizon Communications in the Dow Jones Industrial Average, index provider S&P Dow Jones Indices said late Tuesday, tilting the historic U.S. equity benchmark deeper toward the technology sector. It will no longer have a component representing telecoms.

Billionaire Mukesh Ambani’s Jio Platforms, India’s largest wireless operator and digital service provider, filed draft papers for an initial public offering on Friday.

Fox Corp. has reached an agreement to acquire Roku for roughly $22 billion, marking another chapter in media consolidation as the industry grapples with changing dynamics and mounting challenges.

Meta Platforms Inc. has completed an operational split from Manus and halted data sharing between the two companies, taking a pivotal step toward unwinding a $2 billion acquisition opposed by Beijing.

Meta Platforms plans to lease 168 MW AI-enabled data center in India from Reliance Industries.

Alphabet said it would issue $80 billion of equity, including $10 billion of stock to Berkshire Hathaway , as it funds its huge AI computing infrastructure buildout.

Barry Diller’s media conglomerate People Inc. is readying an offer to acquire MGM Resorts International  in a deal that values the casino operator at $18 billion, The New York Times reported Monday.

Shares of Dollar Tree rose sharply Thursday after the discount retailer reported better-than-expected quarterly earnings, lifted its fiscal-year guidance, and unveiled a partnership with DoorDash.

Uber’s board met on Saturday to discuss raising its offer for Delivery Hero, after a major shareholder rebuffed an approach that would have valued the German food delivery group at more than €11.5bn.

Alphabet stock is nearing a $5 trillion market cap—and the Google parent hasn’t gotten there just by standing still.

SoftBank booked a yearly gain of $46 billion at its Vision Fund driven mainly by the huge rise in value of its investment in OpenAI.

Airbnb reported mixed first-quarter results after the bell on Thursday and warned of regional weakness spurred by the war in Iran.

Online travel agency Expedia’s (EXPE.O), shares dropped 8% before the bell on Friday, after the ongoing conflict in the Middle East and a travel ​advisory in Mexico shaved about 200 basis points off its quarterly ‌bookings and room-night growth.

Uber reported first-quarter revenue on Wednesday that missed estimates, but the ride-hailing giant issued bookings guidance for the current quarter that exceeded analysts’ expectations.

 Pinterest Inc on Monday reported first-quarter results that exceeded Wall Street expectations, with adjusted earnings per share of $0.27 beating the analyst estimate of $0.23 by $0.04.

Alphabet reported first-quarter earnings after the bell Wednesday, showing revenue that topped expectations boosted by its surging cloud business. Shares climbed following the report.

Meta Platforms (META) beat expectations for its first-quarter earnings results on Wednesday afternoon. Its shares were still down 8% in pre-market trading Thursday.

The European Commission has found that Meta breached EU law by failing to prevent under-13s from accessing its platforms, as scrutiny of the tech giant’s handling of child safety intensifies.