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Daily Tech Reader - Technology Edition
Sandisk Revenue Surges as Company Announces 8-for-1 Stock Split
Sandisk reported fiscal first-quarter revenue of $11 billion, up 378% from a year earlier and above estimates, while forecasting second-quarter revenue above expectations and announcing an 8-for-1 stock split.
Pinterest Shares Fall After Revenue Miss and Weak Outlook
Pinterest reported third-quarter revenue of $1.17 billion, up 12% year over year but below estimates, as monthly active users reached 661 million and the company forecast fourth-quarter revenue below expectations.
Polymarket Restores Trading Following Third-Party Security Incident
Polymarket resumed trading after temporarily halting activity because of a security incident involving a third-party provider and said affected traders would be reimbursed.
Nvidia Considers Credit Support for Data Center Planned for Anthropic
Nvidia is reportedly in talks to provide Nscale with billions of dollars in credit guarantees for debt financing a 460-megawatt data center that Anthropic plans to use.
Binance Investigates Potential Security Breach Amid Billions in Suspicious Outflows
Binance said it was investigating a potential security issue as suspicious outflows reached as much as $5.8 billion, while Tether and Circle froze more than 1.5 billion USDT and 800 million USDC, respectively.
Coinbase Returns to Profit Despite Sharp Revenue Decline
Coinbase reported third-quarter revenue of $1.22 billion, down 35% year over year, while net income rose 66% to $719 million as unrealized cryptocurrency gains helped produce its first profit in a year.
Roblox Shares Tumble as User Activity Falls Short of Expectations
Roblox reported third-quarter bookings of $1.7 billion, down 12% year over year, while daily active users declined 9% to 138 million and came in below estimates.
Instagram Offers Creators Up to $500,000 for Long-Form Videos
Instagram is reportedly offering select creators between $50,000 and $500,000 to cross-post their long-form YouTube content to its new Features product.
AWS Growth Accelerates as Revenue Reaches Nearly $46 Billion
Amazon reported third-quarter AWS revenue of $45.98 billion, up 39% year over year and ahead of estimates, while AWS operating income rose 55% to $17.77 billion.
Tech Companies Push Back on Broad ICE Requests for User Data
Google, Meta, and other technology companies are reportedly resisting broad ICE demands for user data as they face the prospect of future Democratic-led congressional investigations.
Walmart Commits Another $6 Billion to Symbotic Automation
Symbotic said Walmart committed an additional $6 billion over several years to deploy its supply-chain automation technology across the retailer's distribution network.
Reddit Revenue Jumps but Fourth-Quarter Forecast Disappoints
Reddit reported third-quarter revenue of $895 million, up 53% year over year and above estimates, while daily active unique users came in below expectations and the company forecast fourth-quarter revenue below estimates.
Amazon's Heavy Investment Pushes Quarterly Free Cash Flow Negative
Amazon spent more than $77 billion on property and equipment during the third quarter, contributing to a $42.4 billion free cash outflow as the company continued a capital spending program expected to reach about $220 billion in 2026.
Intel Shares Plunge After Weak Fourth-Quarter Forecast
Intel reported third-quarter revenue of $16.5 billion, up 21% year over year and in line with estimates, but forecast fourth-quarter revenue and adjusted earnings per share below expectations.
Reddit Moves Toward Login-Only Access in Response to AI Scraping
Reddit plans to require users to log in to fully access the site in response to AI scraping, with tests scheduled to begin in select markets outside the United States this quarter.
Sources: MarketWatch, Barron's, Reuters, The Information, The Block, Bloomberg, Business Insider, CNBC, Wall Street Journal, Axios