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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)
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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)
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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)
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Meta reports Q1 revenue up 27% YoY to $36.46B, net income up 117% YoY to $12.37B, and family daily active people up 7% YoY to 3.24B for March 2024 (Meta Investor Relations)
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Cisco details a hacking campaign that penetrated multiple governments' networks using two zero-day flaws in its VPN and firewall Adaptive Security Appliances (Andy Greenberg/Wired)
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TikTok is suspending the rewards program in TikTok Lite while it tries to resolve EU concerns about the potentially addictive nature of the program for children (Foo Yun Chee/Reuters)
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US prosecutors charge two founders of the Samourai Wallet crypto mixing service, saying it facilitated more than $100M in money laundering transactions (Bob Van Voris/Bloomberg)
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Stripe says some of its products will be available to companies that are using other payments providers, and unveils new embedded finance features and AI tools (Ingrid Lunden/TechCrunch)
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Worldcoin subsidiary World Assets plans to sell WLD tokens to meet the demand for orb-verified World IDs and support Worldcoin network growth; WLD drops 7%+ (Brian McGleenon/The Block)
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WhatsApp rolls out passkey support on iOS, removing the need for users to deal with SMS one-time passcodes, six months after introducing the feature on Android (Aisha Malik/TechCrunch)
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Apple researchers share OpenELM, a family of LLMs with 270M to 3B parameters, designed to run on-device, and pre-trained and fine-tuned on public datasets (Shubham Sharma/VentureBeat)
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Source: Cognition, which offers an AI coding assistant, raised $175M led by Founders Fund at a $2B valuation, a month after a Series A at a $350M valuation (Kate Clark/The Information)
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President Biden signs the ByteDance-TikTok divest-or-ban bill into law, after the Senate passed it by 79-18; the House passed the legislation 360-58 on April 20 (Lauren Feiner/The Verge)
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Biden's re-election campaign plans to continue using TikTok for at least the next year, with "enhanced security measures", to help "meet voters where they are" (Monica Alba/NBC News)
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Whether TikTok is banned or not, this is the end as we know it for the money-losing app, which may lose focus due to advertiser, creator, and staff uncertainty (M.G. Siegler/Spyglass)
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Klarna partners with Uber to power Uber and Uber Eats payments, adding its Pay Now option in the US, Germany, and Sweden, but not installment-based payments (Ryan Browne/CNBC)
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Meta, Google, Snap, and Amazon all benefit from the US' TikTok ban; Mark Zuckerberg criticized TikTok's Chinese roots in 2019, part of Meta's broader campaign (Will Oremus/Washington Post)
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Nvidia acquires AI infrastructure orchestration and management service Run:ai, a source says for ~$700M; Run:ai, founded in 2018, had raised $118M to date (Meir Orbach/CTech)
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Sources: Qualcomm is cheating on Snapdragon X Plus and Elite benchmarks given to OEMs and the press; the numbers are not achievable with the claimed settings (Charlie Demerjian/SemiAccurate)
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How a tiny group of US lawmakers and aides wrote the TikTok divestment bill, hiding their efforts to avoid TikTok's lobbying, alongside the DOJ and White House (New York Times)
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US companies racing to build data centers to serve AI demand is causing a shortage of parts, property, and power; cooling system lead times are now 5x longer (Wall Street Journal)
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Qualcomm details its Snapdragon X Plus and X Elite chips; benchmarks from a demo suggest the chips match Apple's M3, Intel's Core Ultra 9, and AMD's Ryzen 9 (Joanna Nelius/The Verge)
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Dublin-based Tines, which offers no-code automation tools for security teams, raised a $50M Series B extension, sources say at a near $600M post-money valuation (Ingrid Lunden/TechCrunch)
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Hands-on with the Meta AI chatbot: fails at basic search queries, stinks at counting, excels at editing existing paragraphs, quickly creates images, and more (Brian X. Chen/New York Times)
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Berlin-based Parloa, which uses conversational AI to automate call center operations, raised a $66M Series B led by Altimeter, after a $21M Series A in 2023 (Paul Sawers/TechCrunch)
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Microsoft begins rolling out Windows 11 Start menu ads that show app "recommendations" from "a small set of curated developers"; users can disable the ads (Tom Warren/The Verge)
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The US DOJ argues Binance founder Changpeng Zhao should spend three years in prison and pay $50M for helping Binance violate sanctions and money laundering laws (Nikhilesh De/CoinDesk)
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Filings: in 2024, ByteDance and TikTok spent $7M+ combined on lobbying against the US' TikTok bill; AdImpact: TikTok spent $4.5M+ on TV and digital ads in 2023 (Brian Schwartz/CNBC)
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SK Hynix plans to spend ~$3.86B to build a new DRAM chip facility in South Korea, starting construction this month and aiming for completion by November 2025 (Joyce Lee/Reuters)
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Biden signing the TikTok divestment bill starts a 270-day countdown for a sale or a US prohibition; sources say ByteDance sees a divestiture as a last resort (Alex Barinka/Bloomberg)
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An interview with Apple Arcade Senior Director Alex Rofman: the service hit record highs on all "critical metrics" in 2023 and will feature Vision Pro games (Keith Stuart/The Guardian)
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The US OFAC sanctions four Iranian nationals over cyberattacks on the US government, defense contractors, and private companies, and the DOJ unseals indictments (Sergiu Gatlan/BleepingComputer)
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An interview with Embracer Group CEO Lars Wingefors on criticism over mass layoffs and studio closures, splitting the company into three, rising debt, and more (James Batchelor/GamesIndustry.biz)
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How Palantir, which doesn't have a traditional salesforce, is using software boot camps to attract customers, hosting an average of about five per day in 2024 (Lizette Chapman/Bloomberg)
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A look at the restaurant reservation ecosystem in New York City, where new apps have sprung up to help diners book a table at buzzy restaurants for a price (Adam Iscoe/New Yorker)
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A deep dive into how Bluesky is built, including its growth from three engineers to 12 in just over two years and its infrastructure move from AWS to on-prem (The Pragmatic Engineer)
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Microsoft must take security seriously again by being transparent about breaches and no longer charging its subscribers extra for must-have security features (Mary Jo Foley/Directions on Microsoft)
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Paris-based FlexAI, which is developing an on-demand cloud service for AI training, emerges from stealth with $30M in seed funding (Paul Sawers/TechCrunch)
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Mobvoi, a Google-backed Chinese smartwatch and AI company, fell as much as 22% in its first day of trading, after raising $41M in its Hong Kong IPO (Filipe Pacheco/Bloomberg)
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Emails released as part of US vs. Google show how Google's finance and ad teams led by Prabhakar Raghavan made Search worse to make the company more money (Edward Zitron/Ed Zitron's Where's ...)
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China approves the US listing of self-driving startup Pony.ai, which plans to sell up to 98M shares and list on Nasdaq or NYSE, signaling an easing crackdown (Bloomberg)
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Huawei unveils Qiankun, a new business unit focused on providing self-driving systems, marking the company's latest push to become a major EV industry player (Reuters)
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SenseTime's stock rises 30%+ after the company unveiled the latest version of its SenseNova AI model; its stock is down 80%+ since its 2021 Hong Kong IPO (Bloomberg)
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Samsung starts mass production of its 9th-generation 286-layer 3D NAND memory chips, which increases data I/O speeds by 33% compared to 8th-gen 236-layer chips (Nami Matsuura/Nikkei Asia)
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Paris-based Payflows, whose automated financial management SaaS could be deployed on top of existing ERP systems, raised a €25M Series A led by Balderton (Tom Matsuda/Sifted)
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NYC-based Campus, which is building an online alternative to traditional community colleges, raised a $23M Series A extension, following a $29M Series A in 2023 (Marina Temkin/TechCrunch)
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Legal scholars discuss how the TikTok divestment bill could survive a First Amendment challenge and why the US will likely rely on a national security argument (Casey Newton/Platformer)
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The US Senate passes the TikTok divestment bill by a margin of 79-18; the legislation now heads to President Biden, who has committed to sign the bill into law (Lauren Feiner/The Verge)
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Xaira Therapeutics, which aims to use AI models to find new drugs to treat diseases, emerged from stealth with $1B in commitments from Sequoia and others (Sarah McBride/Bloomberg)
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As software gets better at labeling photos, CAPTCHA designers are adopting more difficult logic-based prompts to thwart nefarious bots (Katie Deighton/Wall Street Journal)
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More →