Tag: Business
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Meta cash flow craters as Zuckerberg’s AI spending spree accelerates
July 29 : Meta Platforms reported a precipitous 91 per cent drop in second-quarter free cash flow on Wednesday, underscoring the financial strain of the social media giant’s costly AI buildout despite an uncertain payoff.The Facebook parent company reported free cash flow of $784 million in the second quarter
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Robinhood beats quarterly profit estimates as trading activity remains robust
July 29 : Robinhood Markets beat Wall Street estimates for second-quarter profit on Wednesday, as robust trading in equities, options and prediction markets helped offset weakness in cryptocurrency trading.Retail trading remained robust during the quarter as heightened market volatility, driven in part by the
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Align Technology to add directors, launch review after deal with Elliott
July 29 : Align Technology will add three new independent directors to its board and launch a review of its operations following talks with activist investor Elliott Investment Management, the company said on Wednesday.Shares of the medical device maker were down 4.5 per cent in extended trading.The th
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OpenAI’s Sam Altman discusses rogue agent with US senators, as Trump considers AI controls
WASHINGTON, July 29 : OpenAI CEO Sam Altman said on Wednesday that he was meeting with U.S. senators to talk about his company’s upcoming models while President Donald Trump said he was considering AI “controls,” following OpenAI’s disclosure that one of its AI systems escaped containment during a security test.
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Qualcomm forecasts weak quarterly profit, expects Apple revenue drop to accelerate
July 29 : Qualcomm forecast fourth-quarter profit below Wall Street estimates on Wednesday, and said revenue from Apple products would decline faster than expected as supply constraints and rising costs weighed on its business.Shares of the San Diego, California-based company were down more than 3 per cent in
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Meta’s free cash flow wiped out as AI buildout grows
July 29 : Meta Platforms reported a precipitous 91 per cent drop in free cash flow on Wednesday, underscoring the financial strain of the social media giant’s costly AI buildout despite an uncertain payoff.The Facebook parent company reported free cash flow of $784 million in the second quarter, down from $8.
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Microsoft tops quarterly cloud growth estimates, easing spending concerns
July 29 : Microsoft topped Wall Street estimates for quarterly cloud revenue growth on Wednesday, a sign its massive spending on AI infrastructure was paying off as capacity constraints ease and more businesses adopt the technology.Revenue at the company’s Azure cloud-computing business rose 43 per cent in it
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Robinhood quarterly profit rises on strong trading activity
July 29 : Robinhood Markets posted a rise in second-quarter profit on Wednesday, as volatility in the markets spurred higher trading activity on its platform.The Menlo Park, California-based company’s profit was $573 million, or 62 cents per share, for the three months ended June 30, compared with $386 millio
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SpaceX gets $1.6 billion US Space Force order for 18 Falcon 9 launches
WASHINGTON, July 29 : SpaceX won $1.6 billion in orders from the U.S. Space Force on Wednesday to launch 18 Falcon 9 missions through 2027 carrying Pentagon satellites for detecting and targeting airborne objects, the service said.The 18 missions were assigned to SpaceX across two task orders under the U.S. S
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Value stocks get a moment in the sun: ‘Sell semis, buy ketchup’
Value has outperformed this year, as investors pivoted toward companies more exposed to the real economy.
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