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Figma Raises 2026 Revenue Outlook After Strong Third-Quarter Growth
Figma reported third-quarter revenue of $391.4 million, up 43% year over year and above estimates, while its 80% gross margin came in slightly below expectations and shares fell more than 6% after hours.
Snap Revenue Rises as Daily User Growth Misses Expectations
Snap reported third-quarter revenue of $1.72 billion, up 14% year over year, while daily active users increased 4% to 495 million, below the 499 million estimate, sending shares down more than 9% after hours.
Arm Beats Revenue Estimates as Licensing Business Surges
Arm reported second-quarter revenue of $1.44 billion, up 27% year over year, as licensing revenue jumped 50% to $773 million while royalty revenue of $670 million fell short of estimates.
Qualcomm Revenue Falls as Handset Business Weakens
Qualcomm reported fourth-quarter revenue of $10.3 billion, down 8% year over year but ahead of estimates, while handset revenue dropped 26% to $5.14 billion and shares fell more than 5% after hours.
Meta Draws Record Demand for Debut Euro Bond Sale
Meta raised €9 billion in its first euro-denominated bond offering after attracting a record €53 billion in orders while paying a higher risk premium than Alphabet offered on similar bonds.
Apple Reportedly Tightens Internal AI Spending Limits
Apple reportedly reduced the daily AI spending limit for some engineers from $300 to $200 and plans cuts as low as $100 as its cost-cutting efforts fuel employee concerns about possible layoffs.
AMD's Taalas Acquisition Valued at About $2.9 Billion
A filing shows AMD will pay approximately $2.9 billion in cash and stock for AI chip startup Taalas, including $1.4 billion dependent on unspecified conditions.
Apple Plans Checks on Publicly Shared iCloud Content
Apple says its 27.3 operating-system releases will check iCloud items shared using “Anyone with the link” for harmful content and may remove content or disable accounts.
Meta Acquires AI Coding Startup Conductor
Meta acquired Conductor, whose technology lets developers operate multiple AI coding agents in parallel, with CEO Charlie Holtz saying the team will join Meta Superintelligence Labs.
Tech Stocks Rally as Investors React to Democratic Midterm Sweep
Shares of major U.S. technology companies rose after the Democratic midterm victories as investors bet that a Democrat-controlled Congress could slow AI capital spending that has been consuming cash flow.
Sequoia Raises About $10 Billion and Restructures Investment Programs
Sequoia raised roughly $10 billion in new funds while announcing plans to shut down its Arc accelerator and Scouts program and combine its early-stage and growth teams.
Pangram Launches New AI Image and Video Detection Models
Pangram released Image 1.0, which it describes as state-of-the-art for detecting AI-generated images and video, alongside the smaller Image Flash 1.0 for AI video detection.
Titan OS Raises $46 Million as User Base Reaches 30 Million
Smart TV operating-system company Titan OS raised $46 million in equity and debt, bringing its total funding to $110 million, and says it now has 30 million users.
AI Policy Takes Center Stage After Democratic Election Gains
Transformer examines what the Democratic midterm sweep could mean for U.S. AI policy, citing the scale of the party's gains in Congress.
CoreWeave Shares and Bonds Fall Amid Data Center Policy Concerns
CoreWeave's stock and unsecured bonds declined following Democratic midterm victories as Texas Governor-elect Gina Hinojosa called for a moratorium on data centers.
Sources: Reuters, Bloomberg, Globe and Mail, 9to5Mac, Axios, TechCrunch, Pangram, Transformer