Archive
Reddit shares dropped 8% amid a broader technology slide, compounded by weak advertising figures from Snap and mounting concern over referral traffic lost to Google's AI Search features.
Anthropic is heading toward a potential $2 trillion public debut, creating vast balance-sheet gains for Amazon and Google while highlighting their fraught dual roles as equity owners, cloud suppliers, and direct competitors.
Alphabet shares fell 2% as third-quarter capital expenditures surged to $51.4 billion, pushing quarterly free cash flow to negative $9.1 billion despite surging cloud demand.
Alphabet priced €6 billion in euro-denominated debt across seven tranches to finance expanding infrastructure commitments as Google Cloud rents external computing capacity to manage workload demand.
California's Proposition 40 appeared headed for defeat after falling behind by more than 11 percentage points with 60% of votes counted, giving tech executives who financed opposition a decisive victory.
Alphabet shares climbed roughly 5% on Wednesday as technology stocks rallied following the U.S. midterm elections, helping the company recover ground lost after its third-quarter earnings report.
AppLovin is leaning on newly deployed matching algorithms to maintain momentum after second-quarter revenue fell just short of internal guidance despite growing 53% to $1.924 billion.
Palantir Technologies reported third-quarter revenue of $2.31 billion, surpassing analyst expectations as domestic commercial revenue outpaced its U.S. government business for the first time.
A wave of corporate consolidation and capital raises linked to artificial intelligence infrastructure is driving significant fees to Wall Street, with Goldman Sachs and Wells Fargo securing lead roles across marquee bond and equity deals alongside Marvell's $115 billion bid for Lumentum.
Reddit beat third-quarter expectations with $895 million in revenue, but its shares tumbled after management issued light fourth-quarter guidance and reported that Google's AI Overviews are eroding web search referrals.
