Big Tech Earnings Snapshot

Three big tech earnings reports give a mixed message. Wall Street wants you to spend on the AI buildout, but not too much, and maybe not you, Meta. Sora already has some new features. More details on OpenAI’s IPO timeline. And maybe the AI agents are not yet ready for prime time.

• Big Tech tests investors’ patience with $80bn AI investment spree (FT)
• OpenAI adds reusable ‘characters’ and video stitching to Sora (The Verge)
• AI Coding Leader Cursor Says New Agent Fields Tougher Tasks (Bloomberg)
• Exclusive: OpenAI lays groundwork for juggernaut IPO at up to $1 trillion valuation (Reuters)
• AI Agents Are Terrible Freelance Workers (Wired)

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