Shares in Google parent Alphabet fell nearly 5% in after-hours trading Thursday, after the tech giant said it missed revenue and earnings estimates for the fourth quarter.
Why it matters: Alphabet and its stock thrived during the pandemic. Now, an ad slowdown and its big investment in headcount are challenging its earnings growth just as it's entering a new phase of competition with Microsoft and others in AI.
After an intense year for his family, his business, and for his home country, Ukraine-born tech CEO Vlad Panchenko remains hopeful about the future.
Driving the news: He was doing the media rounds last week to announce the sale of his Web3 online store DMarket to blockchain gaming company Mythical Games.
When news recentlyleaked that Stripe is in talks to raise new funding, most of the chatter was about a $60 billion valuation that's well below what the payments giant previously fetched.
And that made sense, given how much weight we typically attach to nosebleed prices.
Between the lines: What also deserves attention, however, is that Stripe appears to be handling the tech deflation with humility, empathy and prudence, unlike some of its tech industry peers.
Twitter announced late Monday night it would shut off free access to its API Feb. 9 and start charging outside developers and other companies whose apps and software need access to its services.
Why it matters: Twitter got big in part by offering its code and data as infrastructure to others for user authentication, news aggregation and other kinds of third-party uses — but in the Elon Musk era the company's top priority is revenue.
Meta investors got a double dose of good news on Wednesday. The Facebook parent company reported better-than-expected quarterly results and won a favorable ruling from the judge overseeing the FTC's move to block a virtual reality acquisition.
Why it matters: Meta's positive earnings come amid dour reports from many other flagship tech firms that are struggling in a softening economy.
Sen. Michael Bennet (D-Colo.) wrote to Google and Apple on Thursday, urging both companies to remove TikTok from their app stores.
Driving the news: In a letter addressed to Apple CEO Tim Cook and Google CEO Sundar Pichai, Bennet urges both leaders to boot TikTok immediately, calling the popular video-sharing app "an unacceptable threat to the national security of the United States."
Shares for Facebook parent Meta jumped more than 17% in after-hours trading Wednesday, after the tech giant beat Wall Street expectations on revenue and user growth.
Of note: Meta also provided positive first quarter guidance and said it expects expenses for the full year to be lower than originally forecasted.
David Cahn has agreed to join Sequoia Capital as a partner on its growth team, Axios has learned. He previously was a general partner and COO of venture capital with Coatue Management.
Why it matters: This reflects how top VC firms are seeking to bolster their AI and data expertise, which Cahn focused on at Coatue.
Meta has a green light to buy virtual reality fitness startup Within, beating a Federal Trade Commission bid to block the acquisition.
Driving the news: Per Bloomberg, U.S. District Judge Edward Davila made the ruling in sealed court documents filed in California district court Wednesday.
School districts in Tucson, Arizona, and Nantucket, Massachusetts, are responding to ransomware attacks on their networks this week — with at least one district canceling classes as it mitigates the impact.
Driving the news: Schools in Nantucket are closed Wednesday as the district works to understand the scope of a ransomware attack that hit their computers.
OpenAI announced Wednesday it's starting to sell $20 a month subscriptions to ChatGPT, its trendy AI-driven chatbot that answers questions, write poems and has taken the tech world by storm.
Why it matters: ChatGPT seized a powerful spotlight. Now, the monetization begins.
Samsung officially unveiled its Galaxy S23 family of smartphones Wednesday, boasting faster processors and an array of camera improvements. The company also introduced a range of new Galaxy Book laptops, including its first high-end Ultra model.
The big picture: Samsung, like other tech companies, faces a challenging market as it tries to launch new devices into a tough economy.
The rise of generative AI tools is creating parallel demand for a new class of systems that can help distinguish AI-generated text and images from those created by humans.
Why it matters: Educators, in particular, are concerned about students turning in work created by an AI system. But experts are also worried about how generative AI can create a flood of misinformation and impersonation. Detection tools, if they can be made sufficiently accurate, could help.
A new Biden administration report describes Apple and Google as "gatekeepers" of mobile app stores and suggests legislation is needed to spur competition and give app makers and consumers more choices.
Driving the news: The White House is pushing for tech antitrust action in the new Congress, with a new Department of Commerce report laying out what it sees as a harmful app store environment for both consumers and app makers.
