Jonathan Vanian / CNBC: Meta’s Reality Labs division reports Q1 revenue of $339M, down from $695M YoY, and operating loss of $3.99B, up from a $2.96B loss YoY — – Meta’s Reality Labs unit had a $TK billion operating loss in the first quarter, after losing $13.72 billion last calendar year. Lees verder op Tech Meme
Victoria Song / The Verge: Amazon shuts down its health-focused Halo division, discontinues its Halo Band, Halo View, and Halo Rise devices, and plans to lay off portions of the team — Amazon has decided to shutter its health-focused Halo division, The Verge has learned. Amazon has stopped selling its three Halo products … Lees verder op Tech Meme
Christine Hall / TechCrunch: Mexico-based Clara, which sells corporate spend management tools in Latin America, raised a $60M Series B+ led by GGV, after a $70M Series B in December 2021 — Clara, a Mexico-based spend management company, closed on $60 million in equity in a round led by GGV Capital. Lees verder op Tech Meme
Brian Fung / CNN: US senators unveil a bipartisan bill that bans kids under 13 from joining social media and requires tech companies to get parental consent for teens’ accounts — A new federal bill unveiled Wednesday would establish a national minimum age for social media use and require tech companies … Lees verder op Tech Meme
Competition and Markets Authority: The UK CMA blocks Microsoft’s $68.7B Activision acquisition, citing competition and innovation concerns in the UK cloud gaming market; Microsoft plans to appeal — The CMA has prevented Microsoft’s proposed purchase of Activision over concerns the deal would alter the future … Lees verder op Tech Meme
New York Times: A look at the mounting US legal pressure on Binance: the DOJ’s money laundering division leading a criminal investigation, CZ hiring Latham & Watkins, and more — The scrutiny on Binance, the giant cryptocurrency exchange, has sent new tremors through a market that is still bruised by the implosion of FTX. Lees verder op Tech Meme
Aisyah Llewellyn / Rest of World: TikTok Shop is thriving in Indonesia, TikTok’s second-biggest market with an estimated 110M users; Data.ai: Shop Seller has had ~5.5M downloads in the country — TikTok Shop, the controversial app’s ambitious next phase, has caught fire in Indonesia. “This is truly the year of TikTok,” says one seller. Lees verder op Tech Meme
Financial Times: Sources: Tencent is boosting investment in gaming studios abroad, primarily in Europe, to diversify away from China, even as the country lifts tech restrictions — Chinese tech giant targets European assets as it seeks to diversify away from domestic market Lees verder op Tech Meme
Angus Loten / Wall Street Journal: PricewaterhouseCoopers plans to invest $1B in generative AI over the next three years, working with Microsoft and OpenAI to automate some of its US operations — Multiyear investment in U.S. business includes accessing ChatGPT maker OpenAI’s language model, training staff in AI capabilities Lees verder op Tech Meme
New York Times: The US Commerce Department outlines plans to fund next-generation chips via its new National Semiconductor Technology Center; the CHIPS Act devoted $11B to R&D — The Biden administration announced its strategy for the National Semiconductor Technology Center, a string of facilities aimed at propelling U.S. innovation. Lees verder op Tech Meme