Microsoft and Google beat earnings estimates amid an intensifying rivalry over AI and cloud growth.Google's growth was fueled by AI progress, while Azure remains key for Microsoft. Both companies are spending big on AI, and investors are waiting to see that translate into returns. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite to ...

Core Viewpoint - The cable TV industry is experiencing a significant decline, prompting Comcast to consider spinning off its basic cable channels into a separate company to create value and better navigate the changing media landscape [2][4][5]. Group 1: Comcast's Proposal - Comcast is contemplating separating its basic cable channels, such as Bravo, USA, CNBC, and MSNBC, into a new company [2][5]. - This move is not an exit from the media business, as Comcast will retain major assets like NBC, Peacock streaming service, and Universal Hollywood studio [3]. - The rationale behind this proposal is to alleviate the burden of declining cable assets and potentially create a "goodco" and "badco" scenario [5][7]. Group 2: Industry Context - The pay-TV industry is in a state of decline, losing millions of subscribers annually, with basic cable networks particularly affected [4]. - Warner Bros. Discovery had previously considered a similar plan but later retracted it, indicating the complexities involved in such a separation [4][7]. - The industry is facing challenges in ad sales and negotiations with pay-TV distributors, which could be impacted by the proposed split [6]. Group 3: Market Reaction - Following the announcement of the potential spin-off, Comcast's shares rose over 6%, although this increase has since diminished [7]. - Analyst Craig Moffett expressed that a spinout would be a positive development for Comcast [8].

Core Insights - Starbucks is planning to implement "common sense guardrails" on mobile app customizations to streamline the ordering process and improve customer experience [3][4] - The initiative comes after a disappointing third-quarter earnings report, indicating a need for operational overhaul under the new CEO Brian Niccol [3][4] - Mobile orders currently account for over 30% of transactions at Starbucks, but issues like longer wait times and crowded cafés have negatively impacted customer satisfaction [5] Group 1 - The company aims to separate the pick-up process from in-store orders to enhance efficiency [3] - The current app allows extensive customization, complicating orders for both customers and baristas [4] - Pricing architecture will be adjusted to prevent unexpected costs for customers [4] Group 2 - A new sequencing algorithm is being prioritized to provide accurate pickup times for mobile orders, reducing the strain on café operations [5] - The changes are part of a broader strategy to revitalize the brand and improve overall service quality [3][5]

Starbucks will stop surcharges on non-dairy milk ahead of the holidays.CEO Brian Niccol announced the change during a Wednesday earnings call.The new policy will save some customers as much as 10% on their orders, Niccol said. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. ...

Core Insights - Microsoft disclosed an equity investment in OpenAI for the first time, revealing total funding commitments of $13 billion in its latest SEC filings [2][3][4] - The nature of the relationship between Microsoft and OpenAI has evolved from a partnership to include equity investments, indicating a deeper financial commitment [3][4][6] - OpenAI recently completed a $6.6 billion funding round, in which Microsoft participated, and is transitioning from a non-profit to a for-profit organization [4][6] Group 1 - Microsoft previously described its relationship with OpenAI as a partnership rather than an equity investment [5][6] - The new disclosure suggests that prior investments were considered "soft money," which did not require public disclosure [3] - Microsoft has been using OpenAI's large language models in its generative AI products since 2019, providing significant cloud-computing resources in return [6][7] Group 2 - The latest SEC filing indicates that Microsoft has recently purchased stock or share rights in OpenAI [4] - In the July filing, Microsoft listed OpenAI as a competitor for the first time, reflecting the evolving dynamics of their relationship [7]

Tesla's falling California sales point to bigger problems for the car company. Changes to the EV market are finally catching up to Tesla. Some customers and investors are losing patience with Musk's political antics. NSIDER TODA Insider Today Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on ...

Core Insights - 23andMe appointed three new independent directors to its board following the resignation of all seven previous members due to concerns over the company's strategic direction [1][2][5] - The new directors are Andre Fernandez, Mark Jensen, and Jim Frankola, who will serve on the audit and compensation committees [3][4] - The company has faced significant challenges, including a user data leak in 2023, declining stock values, and consumer privacy concerns [5][6] Board Changes - The previous board members resigned in September, expressing disappointment in the company's strategic direction and a proposal to take 23andMe private [6][7] - The special committee formed by the board was dissatisfied with the proposal submitted by CEO Anne Wojcicki, indicating a lack of a fully-financed and actionable plan [6][8] - The new board members are committed to addressing the company's challenges and revitalizing its strategic direction [8] Compensation - Each new director will receive $1 million in cash compensation as per the SEC filing [9]

Microsoft's Q1 profits beat analysts' estimates as cloud computing continued to grow. Q1 capital spending reached $20 billion, up from $19 billion in Q4. Microsoft shares edged higher in after-hours trading. Insider Today Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address ...

Starbucks' new CEO, Brian Niccol, is set to lay out plans to turn around the struggling coffee chain. "It is clear we need to fundamentally change our strategy to win back customers," he said Wednesday. The company released preliminary numbers last week. Insider Today NSIDER TODAY Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics ...

AMD's GPU sales are nearing CPU sales, driven by AI data center demand. AMD raised its 2024 GPU sales forecast to over $5 billion, up from $4.5 billion. Analysts predict AMD's GPU sales will grow, but CPUs remain crucial for AI workloads. Insider Today NSIDER TODAY Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalize ...