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Apple just passed $10bn in India, a country where it charges more than it does at home

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Apple has crossed $10bn in annual sales in India for the first time. The milestone says as much about where the company is heading as where it has been. Revenue for the year to March topped $10bn, Bloomberg reported. That is up from about $9bn a year earlier, and $6bn two years before. iPhones made […]

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Snap is losing its $10 users and gaining $1 ones. It beat anyway, and the stock jumped.

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Snap had a good quarter, and the market treated it like a rescue. The shares jumped after hours, up as much as 13%, once the company beat estimates. The catch is where that rally begins: a stock near its all-time lows, down about 37% this year. The headline numbers were genuinely good. Revenue rose 19% […]

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Snap is losing its $10 users and gaining $1 ones. It beat anyway, and the stock jumped. Read More »

Spotify guides Q3 profit below estimates as user growth slows

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Spotify gave investors a number they did not love. The streaming company guided to third-quarter operating income of €670m, just short of the €678m Wall Street had pencilled in, and the stock has already had a rough year. Spotify is also fighting on newer fronts. A flood of AI-generated tracks has swamped streaming, and rivals […]

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BlackRock launches tokenised money market funds to back stablecoins

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BlackRock wants to run the money behind stablecoins. The world’s largest asset manager has launched two tokenised money market funds built to serve as reserves for stablecoin issuers, deepening its push into blockchain-based finance. The funds are its latest step in tokenisation, the business of putting traditional assets such as Treasury bills onto a blockchain. […]

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Apple’s stock slides on supply snags despite record iPhone sales

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Apple delivered its best-ever June quarter for iPhone sales and watched its shares fall anyway, as a warning about supply constraints and rising costs unnerved investors. The stock dropped more than 7% before Friday’s open, wiping out something in the region of $360bn in market value, days after Tim Cook had already warned that a memory-chip […]

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Lloyds Bank bets on AI to cut £2bn in costs by 2030 as profits jump

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Lloyds Banking Group is betting on artificial intelligence to strip £2bn from its costs by 2030, the clearest sign yet that Britain’s biggest high-street lender sees automation as central to its future. The target, unveiled alongside half-year results that showed pre-tax profit up 23%, lands just as Morgan Stanley warns European banks could shed a […]

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The man who wrote the AI-boom bible just got margin-called out of it

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The man who wrote the defining case for the AI boom just got wiped out betting on it. Situational Awareness, the hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, has been forced to sell off its portfolio of public stocks after steep losses. Ken Griffin’s Citadel has bought the lot. The collapse was first […]

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Meta lifts the floor on its AI spending as revenue jumps but cash flow collapses

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Meta told investors it will spend even more on artificial intelligence this year, narrowing its capital-expenditure forecast for 2026 by lifting the floor rather than the ceiling. The company now expects to spend between $130 billion and $145 billion, up from a prior range that started at $125 billion, roughly double what it laid out […]

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Microsoft’s AI spending became cloud revenue. Meta’s became a cash-flow hole.

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Two of the biggest AI spenders reported on the same day. Microsoft’s spending showed up as cloud revenue. Meta’s showed up as a hole in its cash flow. Meta’s revenue rose 28% to $60.8bn, beating forecasts, CNBC reported. But profit fell 14% to $15.8bn, earnings per share missed, and the shares dropped about 5% after […]

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Microsoft’s Azure just crossed $100bn a year, and the AI bet mostly paid off

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Microsoft went into its earnings facing one question: is the vast AI spending working? The numbers said yes, mostly. Revenue rose 18% to $90bn for the quarter to 30 June, and net income climbed 31% to $35.8bn, the company reported. Microsoft Cloud brought in $59.3bn, up 27%. The shares rose about 2% after hours. Azure […]

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