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Alphabet debuts beefed-up AI search and chatbot as competition heats up
The flurry of announcements underscores Google’s efforts to refresh its products since Microsoft-backed OpenAI’s 2022 launch of ChatGPT dazzled the public.
adjusted EBITDA
Warner Bros. Discovery Reveals $966M Loss, Impaired By Decreased Ad Sales And Hollywood Strikes
Warner Bros. Discovery posted a steep quarterly loss that was higher than anticipated.
ad revenue
Disney’s surprise streaming entertainment profit offset by weaker TV business
Disney’s surprise profit in its streaming entertainment division was eclipsed by a drop in its traditional TV business and weaker box office.
Amazon
Peloton CEO Is Stepping Down, Fitness Company To Cut Workforce By 15%
Peloton’s Chief Executive Officer has officially stepped down from the role as the popular fitness company is planning to cut 15% of its global workforce.
Agreements
Comcast pulls Bally Sports channels, imperiling US broadcaster’s restructuring
Comcast stopped broadcasting Bally Sports channels taking some MLB games off the air.
AI services
Exclusive: OpenAI’s Altman pitches ChatGPT Enterprise to large firms, including some Microsoft customers
Altman has hosted hundreds of Fortune 500 company executives in hopes he and other OpenAI executives pitched AI services for corporate use
52-week highs
Dow leads Wall St higher in lean trading week
Wall Street’s main stock indexes ticked higher, with the blue-chip Dow leading gains in thin trading ahead of crucial economic data.
ECONOMY
Trump’s Truth Social Stock Shoots Up On First Day After Hitting Stock Market
Former U.S. President Donald Trump’s social media company Truth Social shot off to a blistering start in its stock market debut on Tuesday, surging more than 50% at the beginning of trading.
AI
Reddit shares soar 38% in market debut
Reddit’s shares jumped in their debut, signaling that investor appetite for IPOs of promising yet loss-making companies could be returning.
AI features
In rare disclosure, LinkedIn says premium subscriptions bring in $1.7 billion
LinkedIn for the first time disclosed sales for its premium subscription business as the company sees an uptick in adoption of new AI tools.