Alex Heath / The Verge:
Mark Zuckerberg says Meta AI assistant has been “tried” by “tens of millions of people” and it will take Meta several years to make money from generative AI — The generative AI gold rush is underway — just don’t expect it to create profits anytime soon.
On Meta’s Q1 earnings call, Mark Zuckerberg said Threads now has more than 150M MAUs, up from 130M in February 2024 (Karissa Bell/Engadget)
Karissa Bell / Engadget:
On Meta’s Q1 earnings call, Mark Zuckerberg said Threads now has more than 150M MAUs, up from 130M in February 2024 — Mark Zuckerberg has speculated it could be Meta’s next billion-user app. — Meta’s Threads app now has more than 150 million monthly users, an increase of about 20 million new users since February.
TSMC unveils a new chip manufacturing technology called A16 and says it plans to start producing its ultra-advanced 1.6nm chips by 2026 (Cheng Ting-Fang/Nikkei Asia)
Cheng Ting-Fang / Nikkei Asia:
TSMC unveils a new chip manufacturing technology called A16 and says it plans to start producing its ultra-advanced 1.6nm chips by 2026 — Taiwan chip titan aims to secure leading position and capture AI demand — TAIPEI — Taiwan Semiconductor Manufacturing Co. says it will start production …
Reddit announces that its Dynamic Product Ads, which use “shopping signals” to automatically show relevant ads to users, are entering public beta globally (Scharon Harding/Ars Technica)
Scharon Harding / Ars Technica:
Reddit announces that its Dynamic Product Ads, which use “shopping signals” to automatically show relevant ads to users, are entering public beta globally — Reddit says its “communities are naturally commercial.” — Reddit has made it clear that it’s an ad-first business.
IBM agrees to buy HashiCorp, which helps companies manage cloud infrastructure, in a deal valuing HashiCorp at $6.4B and expected to close by the end of 2024 (Ben Glickman/Wall Street Journal)
Ben Glickman / Wall Street Journal:
IBM agrees to buy HashiCorp, which helps companies manage cloud infrastructure, in a deal valuing HashiCorp at $6.4B and expected to close by the end of 2024 — IBM will pay $35 a share for the cloud-software company in cash, giving it access to HashiCorp’s roster of some 4,400 clients
IBM reports Q1 revenue up 1% YoY to $14.46B, vs. $14.55B est., software revenue up 5.5% YoY to $5.9B, and net income of $1.6B, up from $927M YoY; IBM drops 5%+ (Jordan Novet/CNBC)
Jordan Novet / CNBC:
IBM reports Q1 revenue up 1% YoY to $14.46B, vs. $14.55B est., software revenue up 5.5% YoY to $5.9B, and net income of $1.6B, up from $927M YoY; IBM drops 5%+ — IBM CEO Arvind Krishna appears at the World Economic Forum in Davos, Switzerland, on Jan. 16, 2024.
AI coding assistant startup Augment emerges from stealth with a $227M Series B at a $977M post-money valuation, following a $25M Series A led by Sutter Hill (Kyle Wiggers/TechCrunch)
Kyle Wiggers / TechCrunch:
AI coding assistant startup Augment emerges from stealth with a $227M Series B at a $977M post-money valuation, following a $25M Series A led by Sutter Hill — AI is supercharging coding — and developers are embracing it. — In a recent StackOverflow poll, 44% of software engineers …
Source: cloud data management startup Rubrik priced its IPO at $32 a share, above its expected $28-$31 range, raising $752M and valuing the company at $5.6B (CNBC)
CNBC:
Source: cloud data management startup Rubrik priced its IPO at $32 a share, above its expected $28-$31 range, raising $752M and valuing the company at $5.6B — Bipul Sinha, co-founder and CEO of data security software company Rubrik. Sinha previously backed cloud management company Nutanix.
Meta’s stock drops 15%+ after hours on weak Q2 revenue guidance and higher FY 2024 capital expenditures due to increased AI infrastructure investments (Ashley Capoot/CNBC)
Ashley Capoot / CNBC:
Meta’s stock drops 15%+ after hours on weak Q2 revenue guidance and higher FY 2024 capital expenditures due to increased AI infrastructure investments — Meta shares plunged in extended trading on Wednesday after the company issued a light forecast, overshadowing better-than-expected first-quarter results.
Meta’s Reality Labs Q1: revenue up 30% YoY to $440M, vs. $512.5M est., a $3.85B operating loss, vs. $4.31B est.; Reality Labs lost $45B+ since the end of 2020 (Alex Koller/CNBC)
Alex Koller / CNBC:
Meta’s Reality Labs Q1: revenue up 30% YoY to $440M, vs. $512.5M est., a $3.85B operating loss, vs. $4.31B est.; Reality Labs lost $45B+ since the end of 2020 — Facebook co-founder and chief executive, Mark Zuckerberg, speaks at an Oculus developers conference while wearing a virtual reality headset in San Jose, California.
