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☆ Activist investor ValueAct has $1 billion stake in Meta, sources say
▼ + stars: | 2024-11-12 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Activist investor ValueAct has a $1 billion stake in Facebook parent Meta , according to people familiar with the matter. ValueAct has a long history of investing in technology companies, and is generally considered to be more constructivist and collaborative than other activist funds. Meta is the parent company of Facebook, Instagram and WhatsApp. It is one of the largest companies to be targeted by an activist investor, with a market cap of nearly $1.5 trillion. Morfit has also pushed for change at other, smaller technology companies, including Spotify.

Persons: Mark Zuckerberg, ValueAct, Mason Morfit, Nelson Peltz's Trian, Meta, Brad Gerstner's, Gerstner, Morfit, — CNBC's David Faber Organizations: Meta, Inc, Orion, Facebook, Disney, Nelson Peltz's Trian Partners, Microsoft, Spotify Locations: Menlo Park , California

☆ See the 95 executives Goldman Sachs tapped to join its exclusive partnership — a record high under David Solomon
▼ + stars: | 2024-11-07 | by ( Reed Alexander | ) www.businessinsider.com time to read: +11 min

Goldman Sachs on Thursday promoted 95 executives to its partnership. AdvertisementDavid Solomon, CEO of Goldman Sachs. The average tenure of the partner class is 16 years at Goldman Sachs. Marine Abiad, Global Banking & Markets, ParisBenny Adler, Global Banking & Markets, New YorkAdvertisementShahzad Ali, Controllers, New YorkAsh Ang, Global Banking & Markets, SingaporeLucia Arienti, Global Banking & Markets, LondonMatthew Armas, Asset & Wealth Management, New YorkAdvertisementPatrick Armstrong, Asset & Wealth Management, New YorkSebastian Ayton, Global Banking & Markets, ParisAmitayush Bahri, Asset & Wealth Management, LondonRob Barlick Jr, Asset & Wealth Management, MiamiAdvertisementDavid Bear, Global Banking & Markets, New YorkAmanda Beisel, Controllers, New YorkJeff Bernstein, Asset & Wealth Management, New YorkLyla Bibi, Global Banking & Markets, New YorkAdvertisementAnne Bizien, Global Banking & Markets, ParisTristan Blood, Asset & Wealth Management, LondonBrittany Boals Moeller, Asset & Wealth Management, AtlantaMarc Boheim, Asset & Wealth Management, LondonAdvertisementChris Bonner, Global Banking & Markets, New YorkKevin Boova, Global Banking & Markets, New YorkRelated storiesOonagh Bradley, Compliance, LondonTimothy Braude, Asset & Wealth Management, New YorkAdvertisementSteven Budig, Asset & Wealth Management, New YorkJacqueline Cassidy, Global Banking & Markets, New YorkSorubh Chandani, Asset & Wealth Management, New YorkPamela Codo-Lotti, Global Banking & Markets, New YorkAdvertisementBracha Cohen, Asset & Wealth Management, New YorkShaun Cullinan, Asset & Wealth Management, New YorkMarc d'Andlau, Global Banking & Markets, ParisAdam Davis, Global Banking & Markets, New YorkAdvertisementMatthew Doherty, Asset & Wealth Management, New YorkJason Eisenstadt, Global Banking & Markets, New YorkAshley Everett, Global Banking & Markets, New YorkAlex Finston, Global Banking & Markets, New YorkAdvertisementAlison Flood, Global Banking & Markets, New YorkArvind Giridhar, Global Banking & Markets, New YorkAshwin Gupta, Asset & Wealth Management, New YorkSonia Gupta, Global Banking & Markets, San FranciscoAdvertisementTerry Hagerty, Global Banking & Markets, New YorkRobert Hamilton Kelly, Asset & Wealth Management, West Palm BeachAxel Hoefer, Global Banking & Markets, FrankfurtDylan Hogarty, Global Banking & Markets, New YorkAdvertisementTim Holliday, Corporate Treasury, LondonKazuya Iketani, Global Banking & Markets, TokyoSumedh Jaiswal, Global Banking & Markets, LondonKyle Jessen, Global Banking & Markets, San FranciscoAdvertisementLotfi Karoui, Global Investment Research, New YorkFeroz Khosla, Global Banking & Markets, New YorkLarry Kleinman, Tax, New YorkJared Klyman, Asset & Wealth Management, New YorkAdvertisementDaniel Korich, Global Banking & Markets, New YorkRebecca Kruger, Global Banking & Markets, New YorkKosuke Kurosawa, Global Banking & Markets, TokyoShane Lee, Global Banking & Markets, CalgaryAdvertisementMichael Leister, Global Banking & Markets, New YorkMatthew Leskowitz, Global Banking & Markets, New YorkHilary Lopez, Asset & Wealth Management, LondonCedric Lucas, Asset & Wealth Management, New YorkAdvertisementMazen Makarem, Global Banking & Markets, New YorkMatthew Mason, Global Banking & Markets, Hong KongJans Meckel, Global Banking & Markets, ParisPatrick Moran, Legal, New YorkAdvertisementLeonie Morel, Global Banking & Markets, LondonJohn O'Connor, Global Banking & Markets, New YorkSteve Orr, Global Banking & Markets, New YorkLeke Osinubi, Engineering Division, New YorkAdvertisementElizabeth Overbay, Platform Solutions, New YorkJonathan Perry, Engineering Division, LondonThomas Plank, Global Banking & Markets, SingaporeCaitlin Pollak, Global Banking & Markets, New YorkAdvertisementLing Pong, Asset & Wealth Management, Hong KongJoe Porter, Global Banking & Markets, San FranciscoVishaal Rana, Global Banking & Markets, New YorkAlexandre Reinert, Global Banking & Markets, Hong KongAdvertisementMonique Rollins, Corporate Treasury, New YorkMarcos Rosenberg, Asset & Wealth Management, RichardsonMarc Schaffer, Global Banking & Markets, New YorkJan Scheffel, Global Banking & Markets, LondonAdvertisementRahul Sharma, Engineering Division, Menlo ParkEric Sheridan, Global Investment Research, New YorkSalil Sheth, Global Banking & Markets, New YorkJonathan Shugar, Global Banking & Markets, New YorkAdvertisementAlyson Shupe, Asset & Wealth Management, New YorkAaron Siegel, Global Banking & Markets, New YorkAdam Siegler, Global Banking & Markets, New YorkCraig Smart, Global Banking & Markets, New YorkAdvertisementAndre Souza, Global Banking & Markets, LondonThom Spoto, Asset & Wealth Management, West Palm BeachLesley Steele, Risk, LondonTeppei Takanabe, Global Banking & Markets, TokyoAdvertisementLaura van Alkemade, Global Banking & Markets, LondonDennis Walsh, Asset & Wealth Management, New YorkAlexandra Wilson-Elizondo, Asset & Wealth Management, New YorkSylvia Yeh, Asset & Wealth Management, New

Persons: Goldman Sachs, David Solomon, —, Solomon, John Waldron, Goldman, Michael Kovac, Beth Hammack, Stephanie Cohen, Katie Koch, Paris Benny Adler, Shahzad Ali, York Ash Ang, Singapore Lucia Arienti, London Matthew Armas, Patrick Armstrong, New York Sebastian Ayton, Paris Amitayush, London Rob Barlick Jr, David Bear, New York Amanda Beisel, Jeff Bernstein, New York Lyla Bibi, Anne Bizien, Tristan Blood, London Brittany Boals Moeller, Atlanta Marc Boheim, Chris Bonner, New York Kevin Boova, Oonagh Bradley, Timothy Braude, Steven Budig, Jacqueline Cassidy, New York Sorubh, New York Pamela Codo, Bracha Cohen, Shaun Cullinan, New York Marc d'Andlau, Paris Adam Davis, Matthew Doherty, New York Jason Eisenstadt, New York Ashley Everett, New York Alex Finston, Alison Flood, New York Arvind Giridhar, Ashwin Gupta, New York Sonia Gupta, Terry Hagerty, New York Robert Hamilton Kelly, Beach Axel Hoefer, Frankfurt Dylan Hogarty, Tim Holliday, London Kazuya Iketani, Kyle Jessen, Lotfi, New York Feroz Khosla, New York Larry Kleinman, New York Jared Klyman, Daniel Korich, New York Rebecca Kruger, New York Kosuke Kurosawa, Tokyo Shane Lee, Michael Leister, New York Matthew Leskowitz, New York Hilary Lopez, London Cedric Lucas, Mazen, New York Matthew Mason, Hong Kong Jans, Paris Patrick Moran, Leonie Morel, London John O'Connor, Steve Orr, New York Leke, Elizabeth Overbay, New York Jonathan Perry, Thomas Plank, Singapore Caitlin Pollak, Ling, Hong Kong Joe Porter, San Francisco Vishaal Rana, New York Alexandre Reinert, Monique Rollins, New York Marcos Rosenberg, Richardson Marc Schaffer, New York Jan Scheffel, Rahul Sharma, Eric Sheridan, New York Salil, New York Jonathan Shugar, Alyson, Aaron Siegel, New York Adam Siegler, New York Craig Smart, Andre Souza, London Thom Spoto, Palm Beach Lesley Steele, Laura van Alkemade, London Dennis Walsh, New York Alexandra Wilson, New York Sylvia Yeh, Piotr Zurawski, Emmalyse Brownstein, Reed Alexander Organizations: Service, Goldman, Business, Wall Street, Global Banking, Markets, Paris, New, Wealth Management, Asset, London, Atlanta, Compliance, San, Beach, Frankfurt, Corporate Treasury, Global Investment Research, Hong, Engineering Division, Solutions, Engineering, Menlo, Palm Beach Locations: Wall, New York, York, Singapore, London, Paris, Paris Amitayush Bahri, Miami, New, San Francisco, Tokyo, Calgary, Hong Kong

☆ Meta's Threads micro-blogging app now has 275 million monthly users, Zuckerberg says
▼ + stars: | 2024-10-31 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Threads, Meta 's rival to Elon Musk's X app, now has nearly 275 million monthly users, CEO Mark Zuckerberg said Wednesday. The latest numbers indicate Threads is up 175% from a year ago when it reached 100 million users. The app is also up from 200 million monthly actives since Meta's second-quarter report in July. The app is now signing up more than 1 million users per day, Zuckerberg also said on Wednesday. X remains ahead of Threads in terms of users, with research firm Sensor Tower estimating in March that the app had 550 million monthly users.

Persons: Mark Zuckerberg, Elon, Zuckerberg, Musk, Susan Li, We've, Bernstein, they're, Li, Davidson's Luria Organizations: Meta, Twitter, Facebook, Microsoft Locations: Menlo Park , California, U.S, X's U.S

☆ Meta set to report Q3 earnings after the bell
▼ + stars: | 2024-10-30 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., arrives for the Meta Connect event in Menlo Park, California, US, on Wednesday, Sept. 25, 2024. Meta is slated to report third-quarter earnings on Wednesday after the close of regular trading. Meta's results come a day after digital ad companies Alphabet , Reddit and Snap all reported solid quarterly earnings. Microsoft reports after the bell on Wednesday, and the big week for tech earnings wraps up on Thursday, when Apple and Amazon report quarterly financials. If Meta hits analysts' expectations for third-quarter revenue, that would represent 18% year-over-year growth, down from 23% a year ago.

Persons: Mark Zuckerberg, LSEG, Jeff Bezos, Zuckerberg, Bernstein, Meta Organizations: Meta, Inc, Amazon, Bloomberg, Microsoft, Apple Locations: Menlo Park , California, China

☆ Meta’s Reality Labs posts $4.4 billion loss in third quarter
▼ + stars: | 2024-10-30 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Meta reported third-quarter earnings on Wednesday, in which it said that its Reality Labs unit, which develops augmented and virtual reality technologies, logged an operating loss of $4.4 billion. Analysts polled by StreetAccount were expecting that unit to post an operating loss of $4.68 billion. Reality Labs revenue rose 29% year-over-year to $270 million in the third quarter, below analysts' expectations $310.4 million. Reality Labs primarily makes money through selling Meta's Quest VR headsets and the Ray-Ban Meta smart glasses. After the company's Wednesday earnings report, Reality Labs has an operating loss of more than $58 billion since 2020.

Persons: Mark Zuckerberg, Meta's, Meta, StreetAccount, Ray Organizations: Meta, Orion, Reality Labs, Reality, VR, Facebook, CNBC Locations: Menlo Park , California, U.S

☆ Even Mark Zuckerberg seems surprised by Meta's pace of spending on AI
▼ + stars: | 2024-10-30 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +1 min

Mark Zuckerberg, CEO of Meta Platforms Inc., arrives for the Meta Connect event in Menlo Park, California, on Sept. 25, 2024. Meta has been so quick to build out its massive data center and computing infrastructure for artificial intelligence projects that CEO Mark Zuckerberg is even a bit surprised. In a call with analysts on Wednesday after Meta's third-quarter earnings report, Zuckerberg explained to investors how Meta's rising costs for the year are tied to the speed at which employees are able to get data centers, servers and chips for AI up and running. Meta raised the low end of its capital expenditures guidance for 2024 to $38 billion from $37 billion. "That execution makes me somewhat more optimistic that we're going to be able to keep on building this out at a good pace."

Persons: Mark Zuckerberg, Meta, Zuckerberg, we've Organizations: Meta, Inc Locations: Menlo Park , California

☆ Big Tech CEOs are calling up Trump, seeking to rekindle their relationship with former president ahead of Election Day
▼ + stars: | 2024-10-27 | by ( Steve Contorno | Alayna Treene | ) edition.cnn.com time to read: +8 min

The stepped-up push by some of the world’s most influential Big Tech leaders to speak with the former president ahead of Election Day comes amid an exceptionally tight race between Trump and Vice President Kamala Harris. And it’s the latest sign of the greater business community seeking to rekindle a relationship with the former president in anticipation of a potential second term. I don’t want to have him, his administration, going after us,’” a person close to Trump told CNN. “If you look at Google lately, I think you’re going to see they’ve become much more inclined towards Trump,” the former president told conservative radio host Hugh Hewitt. “Let me tell you: All of those companies will be set free, if you have the right president,” Trump said.

Persons: Donald Trump, Tim Cook chatted, Trump, Sundar Pichai, “, ” Trump, Joe Rogan’s, Andy Jassy, Mark Zuckerberg, Kamala Harris, Elon Musk, Musk, ’, Evan Vucci, Jassy, Jeff Bezos, Michael M, Zuckerberg, he’s, Joe Biden’s, ”, Hugh Hewitt, “ They’re, Cook, ” CNN’s Clare Duffy, Kate Sullivan Organizations: CNN —, Trump, Apple, Las, Google, Republican, Amazon, CNN, Meta, Big Tech, Mar, Department of Justice, Silicon, Washington Post, Getty, Associated Press, titans, Facebook, Biden’s Department of Justice, Economic, of Chicago, European Union Locations: Europe, Las Vegas, Pennsylvania, Butler , Pennsylvania, New York City, Austin , Texas, Menlo Park , California, Harris

☆ I failed Meta's technical interview. Here's what it was like and what I wish I'd done differently.
▼ + stars: | 2024-10-16 | by ( Tess Martinelli | ) www.businessinsider.com time to read: +9 min

He prepared with practice questions and mock interviews but wished he had studied differently. AdvertisementThis as-told-to essay is based on a conversation with William Orgertrice, a 29-year-old data engineer in Atlanta, about his Meta interview. If I were to go through the Meta interview process again, I would've done several things differently to perform better. The portal's practice questions were useful but significantly easier than the actual interview questions. If you've gone through the interview process for a Big Tech or FAANG company and would like to share your story, email Tess Martinelli at tmartinelli@businessinsider.com.

Persons: William Orgertrice, he'd, —, It's, they'd, I, I'd, I've, would've, they're, I'm, could've, you've, Tess Martinelli Organizations: Meta, Service, Menlo, LinkedIn, of Color, Big Tech Locations: Atlanta, tmartinelli

Zuckerberg's reveal of Orion late last month has triggered a level of enthusiasm that's unfamiliar in the metaverse. He showed off the gadget — a pair of black, thick-framed AR glasses — to the live audience before placing it on his face. In the meantime, Meta is looking to build on the success of its second-generation Ray-Ban Meta smart glasses. The smart glasses went viral on TikTok during the holiday shopping season, and sales exceeded both companies' expectations. Meta is also opening a pop-up shop to showcase the smart glasses and to get them in front of more consumers.

Persons: Mark Zuckerberg, Manuel Orbegozo, Zuckerberg, Orion, CNBC's Julia Boorstin, Alex Heath, Pong, Ray, Meta, it's, Meta's, Oculus, Michael Abrash, Sara Nicholson, Andrew " Boz, Bosworth, who's, Joseph Bonner, Bonner, Luxottica Organizations: Meta, Reuters, Facebook, Ray, Orion, Quest, Wall, VR, Reality Labs, Labs, IDC, CNBC, . Engineers, Argus Research, EssilorLuxottica, Solutions, West Hollywood Locations: Menlo Park , California, U.S, Los Angeles, West, Southern California

☆ Anthropic's power players: Here are the 11 leaders helping shape the future of the Amazon-backed AI company
▼ + stars: | 2024-10-09 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +10 min

It's sought to position itself as the safer, more responsible AI company. She, along with her brother Dario, was part of the team that left OpenAI with the goal of creating a more responsible AI company. Krishna Rao, Chief Financial OfficerAs any emerging AI company can attest, conducting groundbreaking research isn't enough. In this role, he's building deep relationships with users and helping to turn Anthropic's research into a mass-market product. These capabilities are essential to Anthropic's positioning of itself as the safer AI company.

Persons: Anthropic, It's, —, OpenAI's, Dario Amodei, Amodei, Dario, Daniela Amodei, She's, Jack Clark ,, Clark, Jared Kaplan, Kaplan, Chris Olah, Sam McCandlish, McCandlish, Tom Brown, Brown, Krishna Rao, Rao, Mike Krieger, São Paulo, Krieger, Claude, Brian Israel, it's, Brian, Sam Bowman, Bowman, Jan Leike Organizations: Service, OpenAI's ChatGPT, Google, Princeton University, Hertz, Stanford University School of Medicine, sager, Bloomberg, Harvard, Johns Hopkins University, Research, Organization, Core Resources, Stanford University, Brandeis University, Core, Blackstone, Bain & Company, Anthropic, State Department, NASA Locations: OpenAI, Anthropic, Airbnb, São, Menlo Park, San Francisco, New York, Israel

☆ Meta, challenging OpenAI, announces new AI model that can generate video with sound
▼ + stars: | 2024-10-04 | by ( ) www.cnbc.com time to read: +3 min

Facebook owner Meta announced on Friday it had built a new AI model called Movie Gen that can create realistic-seeming video and audio clips in response to user prompts, claiming it can rival tools from leading media generation startups like OpenAI and ElevenLabs. Movie Gen also can generate background music and sound effects synced to the content of the videos, Meta said in a blog post, and use the tool to edit existing videos. Videos created by Movie Gen can be up to 16 seconds long, while audio can be up to 45 seconds long, Meta said. They declined to comment on Meta's assessment for Movie Gen specifically. Lions Gate Entertainment , the company behind "The Hunger Games" and "Twilight," announced in September that it was giving AI startup Runway access to its film and television library to train an AI model.

Persons: Mark Zuckerberg, Meta, Gen, Meta spokespeople, OpenAI, Sora, Scarlett Johansson Organizations: Meta, Facebook, Microsoft, Technologists, Hollywood, Lions Gate Entertainment Locations: Menlo Park , California, U.S, Kling, Hollywood, Pakistan, India, Indonesia

☆ Hands-on with Meta's Orion AR glasses prototype and the possible future of computing
▼ + stars: | 2024-09-27 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Meta CEO Mark Zuckerberg presents Orion AR Glasses, as he makes a keynote speech during the Meta Connect annual event, at the company's headquarters in Menlo Park, California, U.S. September 25, 2024. The most impressive aspect of Meta's Orion augmented-reality glasses has more to do with size and comfort than flashy computer graphics. Meta CEO Mark Zuckerberg revealed the Orion glasses on Wednesday and pitched them as "a glimpse of a future that I think is going to be pretty exciting." While Orion is not capable of putting users in fully virtual worlds, the glasses can overlay digital graphics onto the real world. And unlike VR headsets that can be cumbersome to wear for extended periods, Boorstin said she found the Orion glasses to be a good fit.

Persons: Mark Zuckerberg, Orion, Julia Boorstin, Boorstin, they're Organizations: Meta, CNBC, Orion, Connect, Apple Vision Locations: Menlo Park , California, U.S

Li-Chen Miller, the vice president of product in charge of Ray-Ban Meta glasses, told CNBC that when she travels, she uses the glasses to take photos of her hotel room door, and later, she asks Meta AI to recall the number. AI that speaksZuckerberg also introduced improvements to its Meta AI chatbot that will allow people to interact with it using their voice instead of written text. Users will now be able to have natural voice conversations with Meta AI, which is accessed through Meta apps like Messenger and Instagram. Users will be able to perform actions using their voice, such as telling Meta AI to take a photo by talking to their smartphone. The new Siri-like Meta AI voice feature will be available over the next month for U.S., Canadian, Australian and New Zealand users of WhatsApp, Instagram, Facebook and Messenger.

Persons: Meta, “ I’ve, ” Zuckerberg, Mark Zuckerberg, Apple hasn’t, Zuckerberg, won’t, EssilorLuxottica, Ban, Ray, Chen Miller, Judi Dench, John Cena, Keegan, Michael Key, Kristen Bell, Siri, OpenAI, ChatGPT Organizations: Labs, Meta, Apple, VR, Amazon Music, Amazon, Quest Pro, Orion, Facebook, CNBC, IDC Locations: Menlo Park , California, Oculus, New Zealand

☆ S&P 500's record run is in jeopardy — plus, what Micron could signal about chip demand
▼ + stars: | 2024-09-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Markets: The S & P 500 has slipped into the red since the Morning Meeting. By the way, since the Sept. 6 close, the S & P 500 jumped nearly 6%, closing at a record 5,732 on Tuesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Salesforce, Meta, Dana her, it's, oversold, Mark Zuckerberg, Zuckerberg, Thursday's, Jim Cramer's, Jim Organizations: CNBC, ., Nasdaq, Nvidia, Meta, Microsoft, West Texas, Apple, Micron, Jefferies, Accenture, CarMax, Costco, Jim Cramer's Charitable Locations: China, Menlo Park , California

☆ Mark Zuckerberg's prototype AR shades get a cool review from Nvidia's Jensen Huang
▼ + stars: | 2024-09-25 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

The chunky black frames, demonstrated by CEO Mark Zuckerberg, are still in development with no timeline on launch. However, the Orion shades represent a first look at the company's holographic AR glasses ambitions. They represent the convergence of the company's Quest line of headsets and its Ray-Ban Meta Smart Glasses, which Jim Cramer has been praising for months and months now. During his Connect keynote Wednesday, Zuckerberg shared a montage of user experiences with the Orion glasses, showing first impressions from notable celebrities. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: —, Mark Zuckerberg, Jim Cramer, Zuckerberg, Orion, Jensen Huang, Huang, it's, Jim Cramer's, Jim, Manuel Orbegozo Organizations: Meta, Orion, Nvidia, Apple, CNBC Locations: Menlo Park , California, U.S

In addition to the Quest 3S, Meta on Wednesday also showcased its latest prototype of augmented-reality smart glasses and announced a flurry of new features for its Meta AI chatbot. What it doesMetaA Meta representative said the "S" in Quest 3S stands for "start" — as in getting started with VR. Orion is Meta's first "fully-functioning" prototype AR glasses, Zuckerberg said, and the device is tethered wirelessly to a small "puck." The Orion glasses are an improvement on Project Nazare, prototype smart glasses that Zuckerberg announced in 2021, when the company changed its name from Facebook. As part of Wednesday's event, Meta announced new Meta AI features for its Ray-Ban smart glasses.

Persons: Mark Zuckerberg, David Paul Morris, Meta, Apple hasn't, Zuckerberg, Meta's, Cristiano Amon, Nurphoto, EssilorLuxottica, Ban, Ray, Chen Miller, Judi Dench, John Cena, Keegan, Michael Key, Kristen Bell, Siri, OpenAI, ChatGPT Organizations: Meta, Inc, Chase Center, Bloomberg, Getty, Labs, Apple, VR, Amazon Music, Amazon, Quest Pro, Orion, Facebook, Qualcomm, Samsung, Google, Nurphoto, CNBC, IDC, Wednesday Locations: San Francisco , California, Menlo Park , California, Oculus, New Zealand

☆ Meta offered 'unacceptable' response to concerns over illicit drug ads on Facebook and Instagram, congressman says
▼ + stars: | 2024-09-12 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

A Republican congressman slammed Meta on Thursday over what the lawmaker called an inadequate response to concerns about illicit drug advertisements on Facebook and Instagram. "Meta's response not only ignores most of the questions posed in our letter, but also refuses to acknowledge that these illicit drug ads were approved and monetized by Meta and allowed to run on their platforms," Walberg said in a statement. In its letter to lawmakers, Meta Vice President of Global Legal Strategy Rachel Lieber said that the company shares lawmakers' concerns "about the public safety and health threat caused by the opioid epidemic." Meta is "profiting from proving paid amplification to drug trafficking sites that would not have the reach without Meta's advertising platforms." Read Meta's letter to lawmakers below:

Persons: Mark Zuckerberg, Emily Chang, Tim Walberg, Meta, Walberg, Rachel Lieber, Lieber, Katie Paul, Paul, Zuckerberg, Read Organizations: Meta, Inc, Republican, Facebook, . Michigan, Wall Street Journal, Tech Transparency, Global, CNBC Locations: Menlo Park , California, San Francisco

☆ With tech stocks on the sale rack, here are levels to buy Meta and 3 other megacaps
▼ + stars: | 2024-09-05 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

However, given that September has historically been the worst month of the year for the market, we're layering in some technical analysis to identify some buy levels. We published our prior buy levels analysis on June 26. Clearly, we should have been a bit more conservative in our buy levels, however, in our defense shares only traded below $162 for two days. However, we must be mindful that a move there would once again mean we've broken below the 200-day moving average. Below that and we're looking for the 200-day moving average to hold at around $89 apiece.

Persons: we're, we've, that's, wouldn't, Jim Cramer's, Jim Cramer, Jim, Mark Zuckerberg, Emily Chang, Jason Henry Organizations: Microsoft, Nvidia, Club, CNBC, Meta, Inc, Bloomberg, Getty Locations: Menlo Park , California

Ms. Harris dropped in on each one, in descending order of price and intimacy, as donors enjoyed peach mimosas and shrimp cocktails before her remarks in the grand ballroom. The Harris campaign is immediately being more intentional at courting this community, dispatching aides to meet with affinity groups representing venture capitalists and the cryptocurrency industry. And she has hired additional fund-raising aides with ties to the Bay Area who helped organize Sunday’s event. Ms. Harris also has connections that Mr. Biden simply does not. Josh Becker, who represents much of Silicon Valley in the California Senate and is close with many industry heavyweights, said he had hosted Ms. Harris in his home two decades ago.

Persons: Joe Biden, Kamala Harris, Biden, Harris’s, givers, Harris, ”, “ Harris Walz ”, Donald J, Trump, podcaster David Sacks, Sacks, Sheryl Sandberg, Laurene Powell Jobs, Steve Jobs, Josh Becker, Becker, ” Mr, Jason Henry, Nancy Pelosi, Jeffrey Katzenberg, Tom Steyer, Liz Simons, John Doerr, Reid Hoffman, Steve Westly, Getty, scions, Westly, Harris “, Eleni Kounalakis, —, ” Lateefah Simon, “ Kamala Harris, Simon, “ She’s, Ms, Ron Conway, Steve Spinner, Barack Obama’s, Hopkins, Mr, Spinner Organizations: Sunday, Obama, Bay Area, Facebook, Apple, San, California Senate, The New York Times, Biden, Area, InterContinental Locations: San Francisco, Nob, Woodside, Menlo, California, Pacific Heights, Silicon Valley, Versailles, Bay

☆ Harris Appeals to Tech Leaders in a Return to San Francisco
▼ + stars: | 2024-08-11 | by ( Theodore Schleifer | ) www.nytimes.com time to read: +1 min

Vice President Kamala Harris, whose political career was born in San Francisco two decades ago, on Sunday returned to the city for the first time since clinching the Democratic presidential nomination, hoping to reset relations with a tech community that has soured some on President Biden. Ms. Harris’s late-morning event raised $13 million from the region’s white-collar establishment that counts her as their own. But her trip was as much a rally as a fund-raiser, with about 700 people piling into the Grand Ballroom of the Fairmont Hotel atop Nob Hill. (Some donors with a connection or two found a way, as they do, to skip the line.) Ms. Harris dropped in on each one, in descending order of price and intimacy, as donors enjoyed peach mimosas and shrimp cocktails before her remarks in the grand ballroom.

Persons: Joe Biden, Kamala Harris, Biden, Harris’s, givers, Harris Organizations: Sunday Locations: San Francisco, Nob, Woodside, Menlo

☆ Former YouTube CEO and Silicon Valley trailblazer Susan Wojcicki has died at age 56
▼ + stars: | 2024-08-10 | by ( Jennifer Elias | ) www.cnbc.com time to read: +5 min

CEO Youtube Susan Wojcicki speaks during the 'What Matters Next' session during the Cannes Lions Festival 2018 on June 19, 2018 in Cannes, France. Former YouTube CEO Susan Wojcicki, who was also one of the most influential early Google employees, has died at the age of 56 according to posts shared online by her husband Dennis Troper and Google CEO Sundar Pichai on Friday night. Wojcicki's husband Dennis Troper wrote on Facebook early Friday night, "It is with profound sadness that I share the news of Susan Wojcicki passing. Pichai confirmed the death and cancer condition in a post on social media Friday, writing that he was "unbelievably saddened" by the loss. During Wojcicki's tenure as YouTube CEO, she oversaw the company's rapid expansion, helping turn it into the largest video platform in the world.

Persons: Susan Wojcicki, Dennis Troper, Sundar Pichai, Wojicki, Wojcicki's, Pichai, Sergey …, Susan, she'd, shepherding, Larry Page, Sergey Brin, Brin, Wojcicki, Google's, Patrick Keane, couldn't, Kim Scott, Neal Mohan, Sheryl Sandberg, @SusanWojcicki, Jeff Dean Organizations: Cannes Lions, YouTube, Facebook, Google, Intel Locations: Cannes, France, Silicon Valley, Park , California

☆ He worked at four Big Tech companies. Here's how he went from $200,000 post-MBA at Meta to much more at Google.
▼ + stars: | 2024-08-02 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

He has since worked at Meta, Visa, and PayPal and is currently a senior product manager at Google. Related storiesHe switched companies because he was looking for a role in product management, his goal even before business school. GoogleDuring the recruitment process at Google, Lin said he applied to other companies for two reasons. Advertisement"This time, when I ended up sharing a competing offer, I actually took my PayPal offer," he said. AdvertisementBusiness Insider has verified his offer letters, employment history, and Google compensation.

Persons: —, Yu Lin, Lin, Meta Lin, Visa Lin, PayPal Lin Organizations: Service, Business, University of Southern, Meta, Visa, PayPal, Google, Yahoo, Nvidia Locations: University of Southern California, Taiwan, Park , California, Sunnyvale , California

☆ Meta's advertising growth is proof that hefty AI spending is already paying off
▼ + stars: | 2024-07-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Meta reported revenue growth of 22% from a year earlier to $39.07 billion, with 98% of its sales coming from advertising, primarily on Facebook and Instagram. Its growth rate was double that of Google's ad business, which saw sales increase 11% to $64.6 billion, Alphabet said in its earnings report last week. Meanwhile, Pinterest and Spotify , which are both significantly smaller than Meta, reported revenue growth of 21% and 20%, respectively, in their latest reports. As in previous quarters, Li said Meta's advertising business benefited from online commerce, gaming and the media and entertainment sectors, and that ad growth continued to be strongest in the Asia-Pacific region. She said the company's "improved ad performance" helped lift overall ad prices despite slowing growth in that region.

Persons: Mark Zuckerberg, Emily Chang, Zuckerberg, Susan Li, Li Organizations: Meta, Inc, Facebook, Spotify, Apple Locations: Menlo Park , California, Asia, Pacific

☆ Meta set to report second-quarter earnings after the bell
▼ + stars: | 2024-07-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. Meta is slated to report second-quarter earnings on Wednesday after the close of regular trading. Meta's ad revenue is projected to show an increase of 19% to $37.6 billion, according to StreetAccount. Heading into Meta's report on Wednesday, the digital ad market has shown some signs of weakness. Alphabet reported lower-than-expected ad revenue out of YouTube last week, and on Tuesday, Pinterest issued disappointing third-quarter guidance, leading to a 15% plunge in the stock after hours.

Persons: Mark Zuckerberg, LSEG, Meta, Zuckerberg, Emily Chang, Sundar Pichai, Pichai, Pinterest, Julia Brau Donnelly Organizations: Meta, Google, YouTube, Labs, Revenue, Quest VR, Microsoft Locations: Menlo Park , California

☆ Tech's splurge on AI chips has companies in 'arms race' that's forcing more spending
▼ + stars: | 2024-07-25 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. Meta CEO Mark Zuckerberg has been assembling a large stockpile of Nvidia chips, spending billions of dollars so his company can develop and train advanced artificial intelligence models. But even he says the AI hype may be driving too much investment. Meta debuted its latest Llama AI model on Tuesday. The model, dubbed Llama 3.1, comes in three different versions, with one variant being the biggest and most capable AI model from Meta to date.

Persons: Mark Zuckerberg, Zuckerberg, Emily Chang, He's, Sundar Pichai, Pichai Organizations: Meta, Nvidia, Microsoft, Amazon, Oracle, Tesla Locations: Menlo Park , California

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