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SpaceX reports first results since IPO

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SpaceX reports first results since IPO

SpaceX smashed revenue expectations in its first quarterly earnings report since its blockbuster IPO, though shares sank in after-market trading. Elon Musk's hybrid space-internet-AI company reported $7.81 billion in quarterly revenue on Tuesday — a 92% year-over-year jump — largely driven by the $4.29 billion amassed by its connectivity division. CFO Bret Johnsen noted that growth was spread "across all our business segments," with space and AI divisions also beating estimates. Connectivity remained the only profitable division, however, with AI capital expenditures ballooning to $15.8 billion in the quarter.

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Amazon market cap surpasses $3T after AI fuels cloud growth

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Amazon market cap surpasses $3T after AI fuels cloud growth

Amazon has become the fifth company in history to reach a valuation of $3 trillion. Shares in the e-commerce and cloud-computing giant hit a record high Monday, elevating its market capitalization to a level attained only by Nvidia, Apple, Google parent Alphabet and LinkedIn parent Microsoft. Amazon's rally follows a strong earnings report that showed surging cloud growth driven by AI demand. The results won over investors who were wary of hyperscalers' spending on artificial intelligence infrastructure. Amazon's valuation hit a 17-year low as recently as late March.

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Snap shares spike as company reports 'growing momentum'

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Snap shares spike as company reports 'growing momentum'

Snap is bucking last week's trend of post-earnings market downturns for social media companies like Meta and Reddit. An optimistic quarterly earnings report saw Snap's share price rise premarket Tuesday. The company beat on both earnings and revenue — with sales climbing 19% year over year — and CEO Evan Spiegel boasted of "growing momentum" in Snap's advertising business. The company's third-quarter revenue forecast of $1.7 billion to $1.74 billion came in ahead of estimates. Snap also upped its expected full-year infrastructure spending by $50 million.

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Visa is buying fraud detection platform BioCatch for $2.4B

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Visa is buying fraud detection platform BioCatch for $2.4B

Payments giant Visa is buying fraud-spotting platform BioCatch for $2.4 billion. It's the latest in a series of fraud tech and infrastructure acquisitions for Visa, which Adam Hanafi notes has spent $13 billion to shore up vulnerabilities over the past five years. BioCatch uses AI and "behavioral biometrics" to differentiate bots from real users, and the acquisition underscores the need for a higher bar for fraud detection, as AI makes threats "cheaper, faster and more convincing," per WebNovare.

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Alibaba debuts new AI model in challenge to US rivals

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Alibaba debuts new AI model in challenge to US rivals

Alibaba just released its biggest AI model yet. The Chinese e-commerce behemoth says its new Qwen3.8-Max can compete with — and sometimes even beat — Anthropic's Fable 5. Hong Kong-listed shares of the company jumped on the news. The Qwen3.8-Max drop comes just after homegrown rival Moonshot AI shook up markets with the release of its Kimi K3 model. Taken alongside recent offerings from DeepSeek and ByteDance, these new models show the gap between Chinese and American AI is "narrowing fast," says Vey-Sern Ling of Union Bancaire Privée.

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SpaceX's first earnings will put focus on AI spending

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SpaceX's first earnings will put focus on AI spending

SpaceX delivers its first earnings report as a publicly traded company on Tuesday, and all eyes will be on the rocket maker's runaway spending. While the Starlink telecommunications business remains profitable, artificial intelligence and Starship costs have helped send shares into a tailspin since June's record-breaking initial public offering. AI spending alone is expected to soar more than six times over this period last year to $10.2 billion. The stock could be further strained Thursday by the end of the IPO lock-up period, which will free up over 930 million shares to be sold.

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Apple’s leasing strategy could transform its business model

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Apple’s leasing strategy could transform its business model

Apple’s recently announced leasing program marks a new era that could reframe “the psychology of the purchase” and eventually become one of the primary ways Americans obtain iPhones, Macs, and other devices, Bloomberg reports. While developing the plan, executives envisioned a future where hardware and services could be bundled into a single subscription, potentially transforming the company’s business model. The launch of the program, dubbed Upgrade, comes at a time when Apple is raising its prices. Its first foldable iPhone, expected to debut in September, is projected to cost over $2,000.

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AI chip production is set to double every 9 months

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AI chip production is set to double every 9 months

AI chip production is ramping up quickly, and it's projected to double every nine months, driven by intensifying demand for advanced computing capabilities, Adam Hanafi reports. It notes that hundreds of data centers are under construction globally, and the current batch of 20 million AI chips powering the artificial intelligence boom will swell to 200 million by 2028, based on Epoch AI research. Technologists are comparing the moment to railroading's golden age in the late 1800s and President Franklin D. Roosevelt's New Deal in the 1930s.

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Anthropic says its AI models hacked 3 different organizations

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Anthropic says its AI models hacked 3 different organizations

Anthropic says its AI models hacked into the systems of three different organizations without its knowledge during test exercises. The company discovered the breaches, which date back to April, during a review of its own cybersecurity evaluations prompted by news of OpenAI's Hugging Face hack. Unlike the OpenAI incident, Anthropic's Claude models did not "escape" a testing sandbox; rather, the models were given live internet access due to a "misunderstanding" with a third-party testing partner. Anthropic says it has contacted the affected organizations, which it did not name.

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