Amazon beats earnings expectations as AWS cloud sales surge
Amazon beat Q1 earnings expectations as AWS sales grew 28%, though heavy infrastructure spending to support AI demand is currently pressuring the company's free cash flow.
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458 storiesMeta stock dips as AI infrastructure spending projections rise
Meta reported $26.8 billion in Q1 net income, but shares fell more than 5% as the company projected higher infrastructure spending and continued losses in Reality Labs.
Microsoft reports over 20 million paid enterprise Copilot seats
Microsoft reported over 20 million paid enterprise Copilot seats, with CEO Satya Nadella claiming user engagement has reached levels comparable to its core Outlook email product.
Alphabet adds 25 million paid subscriptions in Q1
Alphabet added 25 million paid subscriptions this quarter, reaching 350 million total, as the company navigates a strategic shift from ad-supported to subscription-based revenue.
Truecaller pivots monetization amid slowing user growth
Truecaller is facing slowing growth in its largest market, India, and increased competition, forcing the company to pivot its monetization strategy beyond advertising.
Amazon pivots podcast strategy to focus on commerce
Amazon has transformed its podcast business, reportedly cutting more than 100 Wondery jobs to pivot toward integrating audio content with commerce and celebrity-driven services.
Apple CEO Tim Cook to step down in September
Tim Cook will step down as Apple CEO in September after 15 years, with John Ternus set to take over as the company navigates global economic volatility.
Storm Duncan offers Mill Valley home for Anthropic equity
Investment banker Storm Duncan is attempting to trade his 13-acre Mill Valley property for Anthropic equity, citing a desire to diversify his portfolio away from real estate.
X-energy IPO signals warming public market for climate tech
X-energy’s $1 billion Initial Public Offering (IPO) and Fervo’s filing suggest public markets appear to be warming to climate tech, driven by AI-related electricity demand.
X-energy shares jump 27% in Nasdaq debut
X-energy shares rose 27% in their Nasdaq debut, reaching an $11.5 billion valuation as investors appear optimistic about the startup's nuclear reactor technology.
X-energy raises $1 billion in IPO for modular nuclear reactors
X-energy raised $1 billion in its IPO, selling shares at $23 each, as the nuclear startup is expected to begin trading on the Nasdaq Exchange.
Bob Iger rejoins Thrive Capital as an advisor
Bob Iger is returning to Thrive Capital as an advisor, marking his second stint at the firm shortly after stepping down as Disney's CEO.
Redwood Materials cuts 10% of staff and loses COO
Redwood Materials is laying off around 10% of its workforce and restructuring its operations as COO Chris Lister retires and other key executives depart.
Meta freezes 6,000 open roles and plans 8,000 layoffs
Meta is planning to cut 10% of its workforce, or 8,000 employees, and freeze 6,000 open roles starting May 20, according to reports.
Microsoft offers voluntary retirement buyouts to U.S. staff
Microsoft is offering voluntary retirement buyouts to up to 7% of its U.S. workforce, marking the first such program in the company's 51-year history.
Tesla revokes Musk's $29 billion interim pay package
Tesla has revoked Elon Musk’s $29 billion interim pay package, citing a "no double dip" policy following the restoration of his original $56 billion 2018 compensation award.
Tesla to boost 2026 capital spending to $25 billion
Tesla plans to increase 2026 capital expenditures to $25 billion as it pivots toward AI and robotics, despite expecting negative free cash flow for the year.
Tesla revenue rises as company pivots to AI and robotics
Tesla reported $22.38 billion in Q1 revenue and positive free cash flow, even as it faces lagging EV sales and prepares for an awkward and potentially financially painful transition.
Rituals confirms data breach of customer membership records
Cosmetics giant Rituals has confirmed a data breach involving an unauthorized download of membership data, affecting customers across Europe, the U.K., and the U.S.
Redwood Materials cuts 10% of staff in restructuring
Redwood Materials has laid off around 135 employees, or roughly 10% of its workforce, to restructure its operations and prioritize its growing energy storage business.