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☆ AI poster child Altman back at OpenAI, may have fewer checks on power
▼ + stars: | 2023-11-22 | by ( Aditya Soni | ) www.reuters.com time to read: +4 min

[1/3] Sam Altman, CEO of ChatGPT maker OpenAI, arrives for a bipartisan Artificial Intelligence (AI) Insight Forum for all U.S. senators hosted by Senate Majority Leader Chuck Schumer (D-NY) at the U.S. Capitol in Washington, U.S., September 13, 2023. "Altman seems awfully powerful and it is unclear that any board would be able to oversee him. The board fired Altman last week with little explanation and attempted to move on by naming an interim CEO twice. "The fact that Summers and Taylor will join OpenAI is quite extraordinary and marks a dramatic reversal of fortunes in the company," Valle said. Sutskever, Altman and Taylor could not be immediately reached for comment.

Persons: Sam Altman, OpenAI, Chuck Schumer, Craig Hudson, Sam Altman's, Altman, Mak Yuen Teen, " Altman, Beatriz Valle, Bret Taylor, Salesforce, Larry Summers, Summers, Taylor, Valle, Jack Dorsey's, Tasha McCauley, Helen Toner, Ilya Sutskever, Adam D'Angelo, Sutskever, Sam, Gartner, Jason Wong, Aditya Soni, Mark Porter Organizations: Intelligence, Senate, U.S, Capitol, REUTERS, Microsoft, National University of Singapore Business School, Wall, Elon Musk's, Twitter, ., Harvard, Democratic, OpenAI, Georgetown's Center for Security, Emerging Technology, Thomson Locations: Washington , U.S, Bengaluru

"i'm looking forward to returning to openai," Altman said in a post on the X social media platform late on Tuesday. Sam Altman attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. OpenAI's previous board consisted of Tasha McCauley, Helen Toner and OpenAI chief scientist Ilya Sutskever and Quora CEO D'Angelo, who is part of the revamped board. In a post on X on Tuesday, Shear said he worked "~72 very intense hours" to bring stability - and ultimately Altman - back to OpenAI. When he was out of a job, CEO Nadella said Altman could head a new research team alongside Brockman and other colleagues departing from OpenAI.

Persons: Bret Taylor, Brockman, FRANCISCO, Sam Altman, OpenAI, Larry Summers, Adam D'Angelo, D'Angelo, Altman, Danni Hewson, AJ Bell's, Satya Nadella, Kyle Rodda, Carlos Barria, Tasha McCauley, Helen Toner, Ilya Sutskever, Steve Jobs, Greg Brockman, Sunday Altman, Emmett Shear, Shear, Nadella, Jeffrey Dastin, Aditya Soni, Shivani Tanna, Bansari, Dhanya Ann Thoppil, Nivedita Bhattacharjee, Sam Holmes, Jane Merriman Organizations: U.S . Treasury, Microsoft, Economic Cooperation, REUTERS, Reuters, U.S, Thomson Locations: openai, U.S, OpenAI, Asia, San Francisco , California, Valley, San Francisco, Bengaluru

☆ Reaction to Sam Altman's return as OpenAI CEO
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +4 min

Sam Altman, CEO of Microsoft-backed OpenAI and ChatGPT creator speaks during a talk at Tel Aviv University in Tel Aviv, Israel June 5, 2023. REUTERS/Amir Cohen Acquire Licensing RightsCompanies Openai LLC FollowNov 22 (Reuters) - OpenAI said on Tuesday it had reached an agreement for Sam Altman to return as CEO days after his ouster, capping frenzied discussions about the future of the startup at the center of the artificial intelligence boom. THRIVE CAPITAL, OPENAI SHAREHOLDER"OpenAI has the potential to be one of the most consequential companies in the history of computing. "Sam Altman seems awfully powerful and it is unclear that any board would be able to oversee him. Altman and (Microsoft CEO) Nadella may have pushed to allow Altman a much freer hand."

Persons: Sam Altman, Amir Cohen, OpenAI, DANNI HEWSON, BELL, Altman, DANIELA HATHORN, Altman's, Greg, Brockman, ChatGPT's, would've, SUSANNAH STREETER, HARGREAVES LANSDOWN, Sam Altman's, KELVIN WONG, MAK, Nadella, hasn't, Supantha Mukherjee, Ankika Biswas, Bansari Mayur, Aditya Soni, Miyoung Kim, Nivedita Organizations: Microsoft, Tel Aviv University, REUTERS, BANK, OpenAI, MNC, OF, UNIVERSITY OF, UNIVERSITY OF SINGAPORE BUSINSS, Thomson Locations: Tel Aviv, Israel, UNIVERSITY OF SINGAPORE, OpenAI, Stockholm, Bengaluru

The startup's newly appointed interim head moved quickly to dismiss speculation that OpenAI's board ousted Altman due to a spat over the safety of powerful AI models. It was not clear why Murati had stepped down as interim CEO. [1/4]Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. Some of those joining Altman at Microsoft include senior researchers Szymon Sidor and Jakub Pachocki, according to Brockman. Microsoft had supported a return by Altman to the startup, according to sources, a move that seemed likely only hours prior to Monday's announcements.

Persons: OpenAI, Emmett Shear, Sam Altman, Greg Brockman, OpenAI's, Altman, Shear, Ilya Sutskever, we've, Sutskever, Mira Murati, reinstates Altman, Brockman, Bret Taylor, Will Hurd, Murati, Carlos Barria, Richard Windsor, Satya Nadella, Szymon Sidor, Jakub Pachocki, Russ Mould, AJ Bell, Nadella, Jeffry Dastin, Anna Tong, Krystal Hu, Akash Sriram, Aditya Soni, Urvi, Shubham, Stephanie Kelly, Nivedita Bhattacharjee, Miyoung Kim, Sam Holmes, Susan Fenton, Chizu Nomiyama, Anil D'Silva Organizations: Microsoft, FRANCISCO, Google, OpenAI, Reuters, Economic Cooperation, REUTERS, Radio Free Mobile, Thomson Locations: OpenAI, Texas, Asia, San Francisco , California, U.S, San Franciso, New York, Bengaluru

☆ Microsoft emerges as big winner from OpenAI turmoil
▼ + stars: | 2023-11-20 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

[1/2] Microsoft Chief Executive Officer (CEO) Satya Narayana Nadella speaks at a live Microsoft event in the Manhattan borough of New York City, October 26, 2016. The turmoil at OpenAI since Friday had raised fears about the fallout for Microsoft, which has pumped in billions of dollars and uses the pioneer's technology for most of its AI offerings. That was nearly equal to the valuation OpenAI commanded in its last fundraise. We view Microsoft now even in a stronger position with Altman and Brockman at Microsoft running AI. "The OpenAI for-profit subsidiary was about to conduct a secondary at a $80 billion+ valuation.

Persons: Satya Narayana Nadella, Lucas Jackson, Sam Altman, Altman, Dan Ives, Brockman, OpenAI, Greg Brockman, Szymon Sidor, SemiAnalysis, Mira Murati, Aditya Soni, Akash Sriram, Sriraj Organizations: Microsoft, REUTERS, Google, Wedbush Securities, Thomson Locations: Manhattan, New York City, OpenAI, Bengaluru

☆ Microsoft emerges as big winner from OpenAI turmoil with Altman on board
▼ + stars: | 2023-11-20 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

That was nearly equal to the valuation OpenAI commanded in its last fundraise. "If Microsoft lost Altman, he could have gone to Amazon, Google, Apple, or a host of other tech companies," said Wedbush Securities analyst Dan Ives. We view Microsoft now even in a stronger position with Altman and Brockman at Microsoft running AI. Altman will lead a new research team at the software giant following his surprise ouster by OpenAI that shocked the tech industry. "The OpenAI for-profit subsidiary was about to conduct a secondary at a $80 billion+ valuation.

The world's biggest shopping event happens in China each year - and it's called Singles Day. WHEN DID THE IDEA OF SINGLES DAY ORIGINATE? The idea for Singles Day had originated at China's Nanjing University back in 1993 and was originally called "Bachelor's Day." Cyber Monday immediately follows Black Friday, which falls on the day after the U.S. Thanksgiving Day holiday, the busiest shopping day of the year in the United States. "The presale period of Tmall and particularly on -- in general, the Singles Day, confirms a softer trend versus a year ago," said Estee Lauder CEO Fabrizio Freda last week, adding that the company was more optimistic about the next part of the Singles Day events in November.

Persons: it's, Bain, Jacob Cooke, Pinduoduo, Cooke, Estee Lauder, Nike, JD.com, Fabrizio Freda, Nicolas Hieronimus, Hieronimus, Granth, Aditya Soni, Diane Craft Organizations: China's Nanjing University, Adobe Analytics, U.S, Reuters, Technologies, Cyber, HK, PDD Holdings, Adobe, Bain, HOPE, Nike, Procter & Gamble, Apple, L'Oreal, Thomson Locations: China, United States, Beijing, Greater China, Bengaluru

☆ Take-Two surges on report widely awaited 'GTA VI' may be unveiled this week
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

Grand Theft Auto The Trilogy by Take-Two Interactive Software Inc is seen for sale in a store in Manhattan, New York City, U.S., February 7, 2022. Take-Two, slated to report earnings later in the day, did not immediately respond to a Reuters request for comment. The game's predecessor, "GTA V", has garnered around $7.68 billion in sales since its launch in 2013 and ranks among one of the most profitable titles ever. Take-Two was on track to add nearly $2 billion to its market value, based on the premarket share price of $148.6. The stock has risen by nearly a third this year, partly due to growing expectations of a reveal for the "GTA VI".

Persons: Andrew Kelly, Aditya Soni, Sriraj Organizations: Inc, REUTERS, Bloomberg, Rockstar Games, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ Apple ticks lower after warning of dull holiday quarter
▼ + stars: | 2023-11-03 | by ( Aditya Soni | ) www.reuters.com time to read: +2 min

Nov 3 (Reuters) - Apple shares on Friday pared losses that were driven by its forecast for a subdued holiday quarter after a U.S. jobs report bolstered hopes of a pause in interest rate hikes by the Federal Reserve. The iPhone maker on Thursday forecast sales for the holiday quarter, usually its biggest, below Wall Street estimates, blaming weak demand for iPads and wearables. An Apple iPhone 12 is pictured in a mobile phone store in Nantes, France, Sept. 13, 2023. "We view management's flat sales guidance as proof the company cannot rely on iPhone sales to drive shares higher, as it has in the past," D.A. "In mainland China, we set a quarterly record for the September quarter for iPhone," Cook told Reuters.

Persons: Bernstein, Stephane Mahe, D.A, Davidson, Tom Forte, Tim Cook, Apple, Cook, Dan Ives, Aditya Soni, Shounak Dasgupta Organizations: Apple, Federal Reserve, U.S . National Retail Federation, Deloitte, REUTERS, Huawei, Reuters, Wedbush Securities, Thomson Locations: Nantes, France, China

☆ Apple tumbles after warning of dull holiday quarter
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Nov 3 (Reuters) - Apple fell 3% on Friday after it disappointed Wall Street with a forecast that indicated growth will stay subdued in the quarter where the holiday season usually drives its strongest sales. The iPhone maker on Thursday predicted quarterly sales that were below market estimates, blaming weak demand for iPads and wearables, especially in key market China. "We view management's flat sales guidance as proof the company cannot rely on iPhone sales to drive shares higher, as it has in the past," D.A. "In mainland China, we set a quarterly record for the September quarter for iPhone," Cook told Reuters. He was also positive on the outlook for the services business, whose strong growth in the September quarter had helped the company top quarterly revenue expectations.

Persons: Bernstein, D.A, Davidson, Tom Forte, Tim Cook, Apple, Cook, Dan Ives, Aditya Soni, Shounak Dasgupta Organizations: Apple, U.S . National Retail Federation, Deloitte, Huawei, Reuters, Wedbush Securities, Thomson Locations: China

☆ Apple's holiday-quarter forecast faces threat from Huawei, weak China market
▼ + stars: | 2023-11-01 | by ( Yuvraj Malik | ) www.reuters.com time to read: +4 min

People stand outside an Apple Store as Apple's new iPhone 15 officially goes on sale across China, in Shanghai, China September 22, 2023. Apple's (AAPL.O) own iPhone 15 line-up has gotten off to a slow start in the crucial international market. Counterpoint estimates China sales of the latest series were nearly 5% lower compared with the iPhone 14 in the first 17 days after launch. Reuters GraphicsWall Street analysts expect iPhone sales to rise about 6% in the October-December period, according to LSEG data. The segment has often outpaced growth in Apple's hardware business in recent years and now accounts for nearly a quarter of its total revenue.

Persons: Aly, Bernstein, Jefferies, Yuvraj Malik, Aditya Soni, Saumyadeb Organizations: Apple, REUTERS, Huawei, Data, Wall, IDC, Thomson Locations: China, Shanghai, Bengaluru

☆ Amazon rallies on cloud optimism as it chases Microsoft for AI business
▼ + stars: | 2023-10-27 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

Smaller cloud rival Microsoft (MSFT.O) rose 1.5%, while Alphabet (GOOGL.O) was down about 1.3%. Amazon shares have rallied about 40% this year, but they have lost nearly 8% in the past two days after Alphabet (GOOGL.O) warned that cloud customers were curbing spending. In the July-September period, Amazon posted its first quarter-on-quarter increase in cloud growth in nearly two years. The 12.3% growth in AWS was slower than the 29% rise seen at Microsoft's (MSFT.O) Azure cloud business, which had topped market estimates. To be sure, Amazon's cloud business is larger than that of Microsoft and Google.

Persons: Pascal, Andy Jassy, Bernstein, brokerages, Morningstar, Dan Romanoff, Aditya Soni, Arun Koyyur Organizations: REUTERS, Microsoft, Amazon, Amazon Web Services, Reuters Graphics, Tech, Google, Tejas Dessai, Thomson Locations: Bengaluru

☆ Western Digital and Japan's Kioxia call off merger talks - Nikkei
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Ann/File photo Acquire Licensing RightsTOKYO, Oct 26 (Reuters) - Western Digital Corp (WDC.O) and Japan's Kioxia Holdings have broken off talks to create one of the world's biggest chipmakers, the Nikkei newspaper reported on Thursday. The companies were also unable to agree on conditions with top Kioxia shareholder Bain Capital, the report added. Western Digital, Kioxia and Bain Capital did not immediately respond to Reuters' requests for comment. Shares of Western Digital sank 12% on the news. Kioxia and Western Digital have held merger talks since 2021 but the negotiations have often stalled over a series of issues, including valuation discrepancies.

Persons: David Dolan, Aditya Soni, Juby Babu, Chavi Mehta, Shweta Agarwal Organizations: Taipei, REUTERS, Rights, Western Digital Corp, Japan's Kioxia Holdings, Nikkei, SK Hynix, Bain Capital, Samsung Electronics, South Korean SK Hynix, Kioxia, Western Digital, Western, Thomson Locations: Taipei, Taiwan, U.S, Kioxia, Bengaluru

☆ Microsoft extends cloud lead over Alphabet with focus on OpenAI, big clients
▼ + stars: | 2023-10-25 | by ( Aditya Soni | ) www.reuters.com time to read: +4 min

In the battle to tap the next growth driver for the cloud business, Microsoft has focused on its core business clients that already use many of its software services, while Google has turned to startups. The results show cloud spending is coming from enterprise clients, whereas smaller businesses are reducing their expenditure, he said. Strong AI use was responsible for a 3 percentage point boost to the Microsoft's cloud business in the September quarter. "Unlike many others who are touting their AI story, Microsoft is capable of delivering meaningful AI products to their customers," brokerage D.A. Many analysts were also optimistic about strength in Alphabet's core search business, but they warned the weakness in the cloud business would continue.

Persons: Morningstar, Ali Mogharabi, Krishna Chintalapalli, Satya Nadella, Davidson, Bernstein, Sundar Pichai, Aditya Soni, Akash Sriram, Arun Koyyur Organizations: Microsoft, Google, Parnassus Investments, Fortune, Thomson Locations: Bengaluru

Alphabet (GOOGL.O) and Snap surpassed third-quarter revenue expectations on Tuesday, with the tech giant seeing strong growth both at its core Search and YouTube units. Meanwhile, Snap's efforts to revamp its ad targeting tools with technology also paid rich dividends, as average revenue per user increased in the third quarter. "We expect the larger platforms like Meta and Google to lead the wallet share growth at least initially in this ad spend recovery," analysts at Evercore ISI said. Meta has also leaned heavily on AI-powered marketing planning and ad measurement features in recent years to drive its growth. "Facebook/Instagram's tools for creating a (marketing) campaign are vastly quicker and easier to use" than smaller rivals including Snap, RBC analysts said, which could potentially give Meta an edge.

Persons: Arnd, Philipp Schindler, Max, Samrhitha Arunasalam, Aditya Soni, Sriraj Organizations: REUTERS, Google, Facebook, YouTube, Evercore, Meta, RBC, Thomson Locations: Zurich, Switzerland, Middle East, Bengaluru

☆ Nvidia says U.S. speeded up new export curbs on AI chips
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 24 (Reuters) - Chip designer Nvidia (NVDA.O) said new U.S. export curbs on the sale of its high-end artificial intelligence chips to China came into effect on Monday as regulators advanced the deadline. The restrictions were supposed to come into play 30 days from Oct. 17 when the Biden administration unveiled measures to stop countries, including China, Iran and Russia, from receiving advanced AI chips designed by Nvidia and others. The restrictions bar exports of Nvidia's modified advanced AI chips A800 and H800 - both of which were created for the Chinese market to comply with previous export rules. The Nvidia A100, H100 and L40S chips are also impacted by the curbs.

Persons: Dado Ruvic, Nvidia, Biden, Aditya Soni, Arun Koyyur, Anil D'Silva Organizations: NVIDIA, REUTERS, Nvidia, Devices, U.S . Department of Commerce, Intel, Gaudi, Thomson Locations: China, Iran, Russia, U.S, Bengaluru

REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 23 (Reuters) - The U.S. Justice Department has sought documents and issued subpoenas to Tesla (TSLA.O) as it scrutinizes the automaker's driver assistance system Autopilot and vehicle driving range, among other issues, the company said on Monday. Tesla said in a regulatory filing it has received requests for information "including subpoenas, from the DOJ. These have included requests for documents related to Tesla’s Autopilot and FSD features" and other requests "associated with personal benefits, related parties, vehicle range and personnel decisions." Reuters reported in October 2022 that Tesla was under a Justice Department criminal investigation over claims the company's electric vehicles can drive themselves, citing people familiar with the matter. The company's spending is, however, expected to return to the $7 billion to $9 billion range in the next two years, a regulatory filing showed.

Persons: Mike Blake, Tesla, Elon Musk, Musk, Aditya Soni, Juby Babu, David Shepardson, Maju Samuel, Savio D'Souza, Jonathan Oatis Organizations: Tesla, Beta, REUTERS, U.S . Justice Department, DOJ, Reuters, Justice Department, Street, Chief, Traffic, Administration, Thomson Locations: Encinitas , California, U.S, Mexico

☆ Tesla to top $9 bln spending target this year as it rolls out new models
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. The company's spending is, however, expected to return to the $7 billion and $9 billion range in the next two years, a regulatory filing showed. He warned that rising interest rates could impact demand at Tesla, on top of a margin-sapping price war this year to maintain sales. Tesla shareholders -- including Gary Black, managing partner of The Future Fund, which owns Tesla stock -- have been calling for the automaker to advertise, saying that price cuts have only had a limited impact on demand. Reporting by Aditya Soni and Juby Babu; Editing by Maju Samuel and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, Tesla, Elon Musk, Musk, Gary Black, Aditya Soni, Juby Babu, Maju Samuel, Savio D'Souza Organizations: Tesla, REUTERS, Fund, Thomson Locations: Taipei, Taiwan, Mexico

The world's most valuable automaker was set to lose nearly $50 billion in market value, based on premarket share movements. The comments marked a change in tone from Tesla CEO Musk, who had said his company was "recession-resilient" last year. The EV maker missed revenue estimates on Wednesday by the most in more than three years despite hefty price cuts. Reuters GraphicsOverall, 10 analysts cut their price targets on the stock, pushing the median view to $260, according to LSEG data. Tesla shares fell 6.1% at $227.96 in premarket trading.

Persons: Tyrone Siu, Elon, Tesla, Musk, Canaccord, Bernstein, Toni Sacconaghi, Craig Irwin, Aditya Soni, Akash Sriram, Shounak Dasgupta, Anil D'Silva Organizations: Tesla, REUTERS, Ford Motor, General Motors, Reuters Graphics, Ford, Roth Capital, Reuters, Thomson Locations: Taipei, Taiwan, Bengaluru

☆ Tesla tumbles as Wall St raises doubt over growth outlook
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. Overall, 10 analysts cut their price targets on the stock, pushing the median view to $260, according to LSEG data. Cash crunches at small EV startups and the ongoing strike at the Detroit Three automakers have also added to the optimism around Tesla. Tesla trades at about 59 times its 12-month forward earnings estimates, compared with 6.3 times for Ford and General Motors' 4.2. Reuters GraphicsReporting by Aditya Soni and Akash Sriram in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, Tesla, Elon Musk, Canaccord, Chaim Siegel, Elazar, Cybertruck, Cash, Aditya Soni, Akash Sriram, Shounak Dasgupta Organizations: Tesla, REUTERS, Wall Street, EV, Reuters, Elazar Advisors, Detroit Three, Ford, General Motors, Thomson Locations: Taipei, Taiwan, Bengaluru

A keyboard is placed in front of a displayed LinkedIn logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 16 (Reuters) - Microsoft's (MSFT.O) LinkedIn said on Monday it would lay off 668 employees across its engineering, talent and finance teams in the second round of job cuts this year for the social media network for professionals amid slowing revenue growth. LinkedIn makes money through ad sales and by charging for subscriptions to recruiting and sales professionals who use the network to find suitable job candidates. In the fourth quarter of its fiscal 2023 year, LinkedIn's revenue increased 5% year-on-year, compared to 10% in the previous quarter. LinkedIn in May decided to cut 716 jobs across sales, operations and support teams to streamline its operations and remove layers to help make quicker decisions.

Persons: Dado Ruvic, Krystal Hu, Yuvraj Malik, Aditya Soni, Arun Koyyur, Emelia Organizations: REUTERS, Microsoft, LinkedIn, Thomson Locations: New York, Bengaluru

☆ Netflix may tap price hikes after success of password-sharing crackdown
▼ + stars: | 2023-10-16 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

The only profitable major streamer, Netflix has resisted joining rivals like Walt Disney (DIS.N) in hiking ad-free prices this year and instead curbed password-sharing outside households to tap the more than 100 million viewers who use its service without subscribing. "Netflix now closely resembles a utility in many markets," analysts at Bernstein said. So far, most viewers subscribing to Netflix after the password crackdown have opted for the ad-free plans, analysts said. "Using these tactics, Netflix will likely double its ad-supported viewership next year," said Insider Intelligence analyst Ross Benes. Revenue in the third quarter likely rose 7.7% to $8.54 billion, the fastest growth in five quarters, thanks to strong programming that included the latest seasons of "Sex Education" and "Virgin River".

Persons: Dado, Walt Disney, Bernstein, Ross Benes, Samrhitha, Aditya Soni, Sayantani Ghosh, Devika Organizations: Netflix, REUTERS, Hollywood, Writers Guild of America, Intelligence, Wall, Revenue, Thomson Locations: Hollywood, Bengaluru

"I don't think the price cuts are over, mainly for the reason that demand is still weak," said Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments. Tesla has already cut U.S. prices of its Model 3 compact sedan and Model Y SUV in October. The slump will continue into the fourth quarter and margins could dip below 15%, said Wells Fargo analyst Colin Langan. However, that likely falls short of offsetting the price cuts," Langan said. Tesla slashed the technology's price by a fifth in August and analysts said that more cuts could be on the cards.

Persons: Florence, China's, Thomas Martin, Elon Musk, Tesla, Wells, Colin Langan, Langan, Musk, Gary Black, Akash Sriram, Aditya Soni, Sayantani Ghosh, Arun Koyyur Organizations: Fair for Trade, Services, REUTERS, HK, Globalt Investments, Reuters, Visible Alpha, Fund, Reuters Graphics Reuters, Thomson Locations: Beijing, China, Europe, MEXICO, Nuevo Leon, Mexican, Bengaluru

☆ Netflix may hike prices after success of password-sharing crackdown
▼ + stars: | 2023-10-16 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

The only profitable major streamer, Netflix has resisted joining rivals like Walt Disney (DIS.N) in hiking ad-free prices this year and instead curbed password-sharing outside households to tap the more than 100 million viewers who use its service without subscribing. It could hike prices after the end of the Hollywood actors strike, a media report said earlier in October. So far, most viewers subscribing to Netflix after the password crackdown have opted for the ad-free plans, analysts said. "Using these tactics, Netflix will likely double its ad-supported viewership next year," said Insider Intelligence analyst Ross Benes. Revenue in the third quarter likely rose 7.7% to $8.54 billion, the fastest growth in five quarters, thanks to strong programming that included the latest seasons of "Sex Education" and "Virgin River".

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