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Tech giants that have often sailed above the economy's turmoil can't escape the current downturn's pain, as this week's earnings reports from the sector's key companies illustrated.Why it matters: Even as other industries struggled during the pandemic, tech prospered because so much of the economy shifted online. Now they are preparing to take a direct hit.Driving the news: Google, Snap, Twitter and Facebook parent Meta all warned in various ways about a sharper than anticipated slowdown in online advertising.PC chip giant Intel on Thursday posted disappointing numbers, though its troubles are exacerbated by its own execution problems above and beyond a slowdown in PC sales.Amazon, which also reported results on Thursday, saw sales growth flatten, with online ...
— (Axios) (July 29) (Pocket)
Queenie Wong is a senior writer for CNET News, who focuses on social media companies including Facebook's parent company Meta, Twitter and TikTok. She previously covered social networks for The Mercury News in San Jose. Before that, she wrote about politics and education for the Statesman Journal in Salem, Oregon. A native of Southern California, she took her first journalism class in middle school.
— (CNET) (August 10) (Pocket)
On Friday, Facebook's parent company Meta unveiled its latest artificial intelligence (AI)-powered chatbot, BlenderBot 3. Naturally, everybody wanted to know what the chatbot thought of the CEO Mark Zuckerberg, and the chatbot had some interesting things to say, Business Insider reported.
— (Interesting Engineering) (August 9) (Pocket)
When Meta Platforms reported its first-ever quarterly revenue decline last month, the Facebook parent company also made a key promotion with little fanfare: 36-year-old finance executive Susan Li would become chief financial officer in the fall, replacing longtime CFO Dave Wehner, who held the role for eight years and would transition to a strategy role.
— (The Information) (August 9) (Pocket)
Plus: Apple's iOS privacy changes 'weren't a factor' in Q2 Facebook's parent company Meta has spent $7.7 billion on capital expenditure in the last quarter, driven by investments in datacenter infrastructure and AI, as it recorded its first ever revenue decline thanks to falling advertising income.…
— (The Register) (July 29) (Pocket)
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