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Zillow Reaches $212.5 Million Settlement Over Failed Home-Flipping Business
Zillow agreed to pay $212.5 million to settle an investor class action tied to its failed Zillow Offers venture after the U.S. Supreme Court declined to hear the company’s appeal.
Cognition Reportedly Weighs Funding at a $70 Billion to $80 Billion Valuation
AI coding startup Cognition is considering another funding round before the end of the year after reportedly receiving investor offers valuing the company at $70 billion to $80 billion, up from $48 billion in September.
FuriosaAI Raises $620 Million to Expand Its AI Chip Business
South Korean AI chip startup FuriosaAI raised $620 million in a Series D round at a $2.9 billion valuation, with South Korea’s National Growth Fund contributing $280 million.
Justice Department Examines Nvidia’s Hugging Face Deal
The U.S. Justice Department has reportedly made inquiries about the competitive impact of Nvidia’s Hugging Face deal as antitrust officials continue examining the chipmaker’s conduct.
Alphabet Reports Negative Free Cash Flow as AI Spending Remains Elevated
Alphabet reported negative free cash flow of $9.07 billion for the third quarter while maintaining its full-year capital spending forecast of $195 billion to $205 billion.
Marvell Reportedly Nears Deal to Acquire Lumentum
Marvell is reportedly in advanced negotiations to acquire data center optics maker Lumentum, which has a market value of about $83 billion, with a deal potentially being announced as soon as next week.
eBay Revenue and Marketplace Sales Beat Expectations
eBay reported third-quarter revenue of $3.21 billion and gross merchandise volume of $23.17 billion, topping estimates as its shares rose more than 4% in after-hours trading.
Microsoft Discloses $10 Billion in Quarterly Revenue From OpenAI
A Microsoft filing showed the company recorded $10 billion in revenue from OpenAI-related commercial arrangements during its first quarter and had $7.2 billion in outstanding receivables from OpenAI.
ServiceNow Shares Tumble Following Quarterly Outlook
ServiceNow reported a 21% year-over-year increase in third-quarter subscription revenue to $3.99 billion, while its outlook for fourth-quarter current remaining performance obligations sent shares down more than 15% after hours.
Microsoft Capital Spending Climbs as Free Cash Flow Tops Estimates
Microsoft reported first-quarter capital expenditures of $45.2 billion, up from $34.9 billion a year earlier, while free cash flow reached $18.6 billion compared with analysts’ estimate of $8.54 billion.
YouTube and Google Advertising Revenue Fall Short of Estimates
Alphabet reported third-quarter YouTube advertising revenue of $11.2 billion and overall Google advertising revenue of $82.01 billion, with both figures coming in below estimates.
Google Cloud Revenue More Than Doubles as Alphabet Misses Overall Revenue Estimate
Alphabet reported third-quarter revenue of $127.58 billion, slightly below estimates, while Google Cloud revenue rose 103% year over year to $30.7 billion and Alphabet shares fell more than 9% after hours.
Microsoft Revenue Rises 19% as Azure Growth Tops Expectations
Microsoft reported first-quarter revenue of $92.28 billion as Azure revenue rose 48% to $33.17 billion and net income increased 32% to $36.63 billion.
Oracle Sets Financing Limit and Forecasts Positive Free Cash Flow
Oracle pledged to limit new financing to $20 billion through fiscal 2030 and said it expects free cash flow to turn positive in the second half of fiscal 2028 and exceed $30 billion in fiscal 2029.
New York Enacts New AI and Connected Baby Monitor Safeguards
New York Gov. Kathy Hochul signed legislation restricting AI chatbots from using designated “unsafe features” for minors and requiring security features in internet-connected baby monitors.
Sources: Reuters, Business Insider, Bloomberg, CNBC, Wall Street Journal, TechCrunch, Variety, Alphabet, Microsoft, Bloomberg Government