Tech
tech
Claire Yubin Oh

Somehow, Meta just keeps growing — the company’s added an extra 1.38 billion daily active users since 2019

With Meta’s blockbuster earnings out on Wednesday, many investor eyes were fixated on its AI progress and capex spending — especially after the tech behemoth went on a big shopping spree to establish a “superintelligence team” of AI experts.

But the bread and butter of Meta’s business, its Family of Apps (Facebook, Instagram, WhatsApp, Messenger) was still the (un)sung hero of the day, raking in $46.6 billion last quarter and up 21% year on year. That smashed analyst expectations and ended up contributing to some 98% of the tech giant’s revenue.

The ability to sell more expensive ads (average ad pricing was up 9% year on year), certainly helped — but the company is also finding more people to show those ads to, with Meta reporting 3.48 billion daily active users this quarter across its social media empire.

Meta's family of apps keeps growing
Sherwood News
Meta's family of apps keeps growing
Sherwood News

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US-TECHNOLOGY-AI-GOOGLE

Google announces new models, glasses, agents, but investors are not impressed

At Google’s I/O developer conference, the company announced a bevy of new products, but none of it helped the stock one bit.

Jon Keegan8h
tech
Rani Molla

Report: Tesla to build solar factory near Houston

Tesla is planning to build its solar panel manufacturing plant — an endeavor that could add up to $50 billion in value to its energy business — near Houston, Texas, Electrek reports. The plant would be located on the same site as its Megafactory, which builds Megapack battery systems.

The solar plant is part of Tesla and SpaceX’s goal of eventually putting solar-powered data centers in space.

On the company’s fourth-quarter earnings call, CEO Elon Musk said Tesla was “going to work towards getting 100 gigawatts a year of solar cell production, integrating across the entire supply chain from raw materials all the way to finished solar panels.”

At the time, the news had sent shares of First Solar down, but subsequent reports suggest Tesla is unlikely to compete directly with the country’s leading photovoltaic panel maker, instead using much of that production internally.

Exclusive: Tesla (TSLA) is building its giant solar panel factory in Houston

Exclusive: Tesla (TSLA) is building its giant solar panel factory in Houston

On the company’s fourth-quarter earnings call, CEO Elon Musk said Tesla was “going to work towards getting 100 gigawatts a year of solar cell production, integrating across the entire supply chain from raw materials all the way to finished solar panels.”

At the time, the news had sent shares of First Solar down, but subsequent reports suggest Tesla is unlikely to compete directly with the country’s leading photovoltaic panel maker, instead using much of that production internally.

tech
Rani Molla

Anthropic hires former OpenAI member and Tesla AI director Andrej Karpathy

Andrej Karpathy — a founding member of OpenAI, Tesla’s director of AI from 2017 to 2022, and the man responsible for the term “vibe coding” — is doing what many in tech are doing right now: heading to greener pastures at Anthropic.

Anthropic, which is slated to go public this year, recently raised money at a $950 billion valuation, making it more valuable than OpenAI and nearly as valuable as Tesla.

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TURN SIGNAL

Confessions of a (former) robotaxi hater

Rani Molla
Waymo at Bay Bridge
“governments around the world will not allow Apple junk fees to stand”
Rani Molla

Epic Games has returned “Fortnite” to the Apple App Store globally, after the video game maker signaled confidence in its ongoing lawsuit with the iPhone maker. In a press release Tuesday, the company wrote:

“Fortnite is returning to the App Store now because we are confident that once Apple is forced to show its costs, governments around the world will not allow Apple junk fees to stand.

We will continue to challenge Apple’s anticompetitive App Store practices of banning alternative app stores and competition in payments.”

Late last year, an appeals court partly reversed sanctions against Apple but upheld the contempt finding and an injunction forcing Apple to permit outside payment options. “Fortnite” returned to the US App Store a year ago.

The suit began in 2020 over Apple’s mandatory 30% commission on in-app purchases and its refusal to allow third-party payment processors or alternative app stores on its mobile devices.

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