Tech
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Meta Smashes Wall Street Expectations With $47 Billion in 2nd Quarter Revenue
The parent company of Facebook and Instagram says 3.48 billion people now use at least one of its apps on a daily basis
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Amazon Invests in Fable, Company Behind ‘Netflix of AI’ Streaming Platform
Fable CEO Edward Saatchi says artificial intelligence will allow fans to create new shows and edit existing content — and help cinema remain the “dominant art form” going forward
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TikTok Becomes Latest Platform to Add Community Notes-Style Feature
“Footnotes” launches in the U.S. as a way for TikTok users to give more context to potentially false or misleading videos
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Could AI Kill Off Hollywood’s Talent Pipeline?
Many top-tier directors and producers came into the business by doing the grunt work that AI may soon handle
Available to WrapPRO members
Tech
Available to WrapPRO members
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Spotify Surges Past 276 Million Paying Customers, Misses on Second Quarter Sales Estimates
The streaming giant’s stock price in early trading took a hit after falling short of Wall Street’s projections
Available to WrapPRO members
Tech
Available to WrapPRO members
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Sony Sues Tencent for Copyright Infringement, Slams ‘Light of Motiram’ as ‘Slavish Clone’ of PlayStation’s ‘Horizon’
The company claims the China-based developer’s adventure video game is positioned to deliberately confuse buyers into thinking the two franchises are related
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TikTok Will ‘Go Dark’ Soon if China Does Not Strike Deal, Commerce Secretary Says
Howard Lutnick says TikTok’s algorithm must be sold for the popular app to remain active past Sept. 17
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Trump Says It Is ‘Not Do-able’ for AI Companies to Pay for All Copyrighted Content Used in Training Models
“You just can’t do it. China’s not doing it,” the president notes
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Google’s AI Summaries Have Chopped Article Clicks Down by Half
Users click on links following an AI summary only 8% of the time, down from 15% of the time when there is no AI recap
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Trump White House Launches AI Website, Shares Plan for ‘Global Dominance’
“Removing red tape and onerous regulation” on AI companies is one way America can stay ahead of China, new AI.Gov site says
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Execs from Nvidia, Adobe, Flawless Join WrapPRO’s ‘AI in Hollywood’ Virtual Roundtable
The conversation, streaming on July 23, will also include screenwriter and producer Van Robichaux
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Tech Earnings Preview: More AI, Fewer Jobs
Tech giants like Meta and Amazon are spending hundreds of billions on AI — but their headcounts have decreased compared to where they were just a few years ago
Available to WrapPRO members
Tech
Available to WrapPRO members
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Google to Invest $25 Billion in AI Data Centers in US
Google says it is spending big on AI a day after Meta CEO Mark Zuckerberg says his company will spend hundreds of billions on data centers
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CAA, Comcast Ventures Join $84 Million Funding Round for AI Firm Moonvalley
The fresh capital will help the company accelerate development of Marey, its professional-grade generative videography platform
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Musk Debuts New ‘Superhuman’ Grok 4 AI Update, Does Not Mention Antisemitic Meltdown
The launch comes in the wake of Grok spouting antisemitic rhetoric and X CEO Linda Yaccarino’s resignation
