Reddit’s stock (RDDT) saw a significant surge of 25% after the company announced its third-quarter results for 2024, revealing not only profitability for the first time in twenty years but also robust revenue growth that exceeded analyst expectations. The social media platform, which went public earlier this year, has demonstrated impressive financial strength and strategic […]
Shares of Snap Inc., the parent company of Snapchat, surged following better-than-anticipated third-quarter results. Analysts expected a quarterly loss of $0.26 per share, yet Snap defied forecasts by posting an adjusted profit of $0.03 per share, with revenue of $1.12 billion. The company attributed this turnaround to an 85% increase in advertising participation from small […]
Infosys, a global leader in digital consulting, has launched a new Center of Excellence (COE) in collaboration with Meta to advance enterprise AI solutions. This COE, located at Infosys’s Bengaluru campus, will leverage Meta’s open-source Llama models to fuel generative AI advancements, aiming to democratize access to powerful AI tools across industries. By harnessing Meta’s […]
Whether one is an aspiring filmmaker aiming for Hollywood or a content creator seeking to enhance video production quality, Meta’s latest artificial intelligence (AI) innovation has the potential to revolutionize media creation. Meta has introduced Meta Movie Gen, a generative AI research model engineered to fundamentally redefine creativity by seamlessly integrating video, image, and audio […]
In a landmark development, American tech giant Meta has agreed to pay $1.4 billion to settle a lawsuit filed by the state of Texas. The lawsuit, initiated under Texas’s 2009 biometric privacy law, accused Meta of illegally collecting biometric data from millions of Texans through its facial-recognition technology. The settlement, which is to be paid […]
Meta Platforms Inc., the tech giant behind the Facebook ecosystem, reported a 16% year-over-year (YoY) increase in net income, reaching $7.78 billion for the quarter ending June 30, 2023. This robust performance was delivered amid ongoing business realignment and strategic changes, and resulted from an 11% YoY rise in revenue, which totaled $31.99 billion. Mark […]
HCL Technologies (HCLTech), a key player in the global technology landscape, has allied with Meta and the MeitY Startup Hub to propel the XR Startup Program in India. This initiative is designed to identify, mentor, and accelerate extended reality (XR) technology startups across the country. The Indian IT company’s participation in the XR Startup Program […]
Meta’s Instagram has launched Threads, an innovative app designed for text-based sharing, broadening the scope of communication beyond photo and video sharing. The app, which is set to become a rival of Twitter, offers a separate platform for real-time updates and public dialogues. Threads, in line with Instagram’s vision, promises a positive, creative space for […]
Artificial intelligence (AI) studio Inflection AI announced a hefty $1.3 billion in funding raised in a recent round led by prominent investors including Microsoft, Reid Hoffman, Bill Gates, Eric Schmidt, and new investor NVIDIA. This substantial investment bolsters the total funds raised by the Palo Alto-based company to $1.5 billion. The funds will underpin the […]
BP has begun the construction of its 134MWdc Arche Solar project in Fulton County, Ohio to address greenhouse-gas emissions and support green energy growth in the US. The Arche Solar project is part of BP’s plans to develop 20GW of net renewable generating capacity by 2025 and 50GW by 2030. The solar power project in […]