Shares slumped 15% after Mark Zuckerberg said AI spending would have to grow before Meta could make much revenue from productsBusiness live – latest updatesShares in Meta slumped 15% when Wall Street opened on Thursday, wiping about $190bn off the value of the Facebook and Instagram parent company, as investors reacted to a pledge to ramp up spending on artificial intelligence.Mark Zuckerberg, Meta’s founder and chief executive, said on a conference call on Wednesday that spending on the...
If there’s one overarching takeaway from last night’s Rabbit R1 launch event, it’s this: Hardware can be fun again. After a decade of unquestioned smartphone dominance, there is, once again, excitement to be found in consumer electronics. The wisdom and longevity of any individual product or form factor — while important — can be set […] © 2024 TechCrunch. All rights reserved. For personal use only.
The R&D World Index (RDWI) for the week ending April 19, 2024, closed at 3,486.41 for the 25 companies in the RDWI. The Index was down -3.24% (or -116.89 basis points). Seven RDWI members gained value last week from 0.03% (Merck & Co.) to 2.54% (AbbVie). Eighteen RDWI members lost value last week from -0.35%…
Samsung is the latest company to profit from AI demand, as its profits have increased more than fourfold compared to a year earlier.
Young professionals are now gearing away from AI by pursuing jobs that the booming technology cannot replace.
Satisfaction with the AI overviews is increasing and Google will continue to evolve the experience this year, according to Sundar Pichai.
Meta said that it would be spending billions of dollars more on its AI efforts, raising expenditure forecasts in this area from $30 - 37 billion to $34 - 40 billion for the year. It cited heavy investment in AI infrastructure such as data centers, chip designs, and research andRead Entire Article
Social media giant Meta reported a surge in profit with the Facebook and Instagram parent seeing its first-quarter profit more than double, boosted by higher advertising revenue and a 6% increase in the average price of ads on its platforms, to touch $12.37 billion from $5.71 billion during the same period last year.Revenue, too, rose 27% to $36.46 billion from $28.65 billion. However, despite beating analyst estimates the stock slumped over 15% in extended trade after the company forecasted...
Meta Shares Are Crashing After Zuck Spooks Investors Over "Significant" AI Spend Update (1715ET): During the earnings call, CEO Mark Zuckerberg said that his commitment to Meta building the best AI models out there leads him to believe that “we should invest significantly more in the coming years." And the return may take a while “It’s worth calling that out that we’ve historically seen a lot of volatility in our stock during this phase of our product playbook, where we’re...
Drivers in Texas saw a 5-cent increase in gas prices with an average of $3.30/gallon for regular unleaded fuel which is a 15-cent increase compared to last year, according to the AAA Texas Weekend Gas Watch.
A think tank has called for the creation of a 'British Library' of the public's data to help improve Britain's position in the global AI race.
Despite the threat posed to Google’s search dominance by new generative AI competitors, revenue from the channel soared in the first quarter of 2024. Google brought in more than $46 billion in search revenue, a 14% year-over-year increase and the most the company’s search revenue has grown in two years. Google once again branded itself as an AI-first company, with AI developments complementing, and not undermining, its ad offerings. “We have a clear path to AI monetization that includes...