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Nintendo’s Switch 2 is selling at more than twice the pace of the original

Nintendo posted the results of its fiscal first quarter on Friday, and the Switch 2’s initial quarter on sale was a banger.

Nintendo sold more than 5.8 million Switch 2 consoles in the April to June quarter, despite the system launching at the tail end of the period (June 5).

That’s more than double the original Switch’s 2.7 million first-quarter sales, and the console’s success more than doubled Nintendo’s quarterly revenue to about $3.8 billion. The better-than-expected revenue figure fueled Nintendo shares, and its US ADRs are up about 2% in premarket trading.

Switch 2 game sales reached 8.67 million units, compared to 24.4 million units for original Switch games. Because of the new console’s backward compatibility, Nintendo says “the people purchasing Nintendo Switch software include not only owners of Nintendo Switch, but also people who have bought Nintendo Switch 2.”

Nintendo said it still expects to sell 15 million Switch 2s and 45 million games in the fiscal year ending in March.

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Report: OpenAI won’t pay a dime in cash for its 3-year licensing deal for Disney IP

More financial details behind the landmark deal that will grant OpenAI three years of access to Disney intellectual property are coming out, and they’re pretty surprising.

The deal will reportedly see OpenAI pay zero dollars in licensing fees, instead compensating Disney in stock warrants. It was previously reported that Disney would invest $1 billion into OpenAI as part of the agreement.

It’s very abnormal for Disney to grant anyone access to its massive IP library without a cash payment, and the entertainment juggernaut has been known to strike down even crocheted Etsy Yodas for infringing on its turf. In its fiscal year 2025, Disney booked more than $10 billion in revenue from licensing fees across merchandising, television, and theatrical distribution.

It’s very abnormal for Disney to grant anyone access to its massive IP library without a cash payment, and the entertainment juggernaut has been known to strike down even crocheted Etsy Yodas for infringing on its turf. In its fiscal year 2025, Disney booked more than $10 billion in revenue from licensing fees across merchandising, television, and theatrical distribution.

business

Ford says it will take $19.5 billion in charges in a massive EV write-down

The EV business has marked a long stretch of losing for Ford, and today the automaker announced it will take $19.5 billion in charges tied, for the most part, to its EV division.

Ford said it’s launching a battery energy storage business, leveraging battery plants in Kentucky and Michigan to “provide solutions for energy infrastructure and growing data center demand.”

According to Ford, the changes will drive Ford’s electrified division to profitability by 2029. The company will stop making its electric F-150, the Lightning, and instead shift to an “extended-range electric vehicle” that includes a gas-powered generator.

The Detroit automaker also raised its adjusted earnings before interest and taxes outlook to “about $7 billion” from a range of $6 billion to $6.5 billion.

Ford’s write-down is one of the largest taken by a company as legacy automakers scale back on EVs, giving EV-only automakers a market share boost.

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