Alphabet's stock rose 2.8% after reports that the company plans to deploy a new AI chip, "Frozen v2," which is expected to be up to 10 times more energy-efficient. This development added $15 billion to the net worth of cofounders Larry Page and Sergey Brin. The chip aims to address internal AI computing power shortages and is planned for deployment by 2028. Alphabet will report Q2 earnings soon, with expectations of strong revenue and earnings growth driven by AI infrastructure investments and Google Cloud's increasing demand.
A federal appeals court ruled that social media companies like Meta, Snap, TikTok, YouTube, and Roblox cannot use Section 230 of the Communications Act to dismiss thousands of lawsuits alleging addiction among young users. The court said Section 230 ...
JPMorgan has increased its S&P 500 target for 2026 from 7,800 to 8,000, citing stronger-than-expected corporate earnings and significant AI-related investments driving business growth. The bank expects earnings per share to grow 35% in 2026, supporte...
Google Play has added Venmo as a payment option for purchases including games, apps, add-ons, and digital content. Users can link their Venmo wallet or other linked payment methods like bank accounts and cards to pay for subscriptions or tip creators...
Ed Zitron, CEO of EZ Primary Research, warns that hyperscaler cloud growth driven by AI is heavily reliant on two unprofitable companies, OpenAI and Anthropic, which together account for a large share of revenue at Google Cloud, Microsoft, and AWS. D...
Berkshire Hathaway reduced its cash reserves by investing billions in stocks like Alphabet and repurchasing $7.8 billion of its own shares in Q2 and July. The conglomerate reported a 16% rise in operating profit to $12.98 billion, driven by gains at ...
