Tech Brew Ride Home Thu. 10/31 – Spooky… I Mean, Earnings Season
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Oct 31, 2024 Tech earnings are booming, with Meta leading the charge thanks to impressive AI-driven engagement. Uber's financial performance surprises as shares slide despite recent profits. China's tech sanctions are making headlines, creating tensions in the supply chain for a drone manufacturer. Meanwhile, Nintendo launches a music app that will delight gamers. The Starlink Mini review unveils its ultra-portable internet capabilities, making it an exciting option for specific users looking for connectivity in remote areas.
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Meta's Q3 Earnings and AI Growth
- Meta's Q3 revenue is up 19% year-over-year, and net income is up 35% year-over-year.
- Meta AI has surpassed 500 million monthly active users in less than a year.
Meta's AI Infrastructure Investment
- Meta is significantly investing in AI infrastructure, increasing its 2024 CapEx guidance.
- They are training Llama 4 models on a massive cluster of over 100,000 H100 chips.
Microsoft's Q1 Earnings and AI Business Growth
- Microsoft's Q1 revenue is up 16% year-over-year, with Intelligent Cloud revenue up 20%.
- Their AI business is on track to exceed a $10 billion annual revenue run rate in Q2.