Meta Platforms may have just got kicked off Wall Street’s favorites list. Stock of the Facebook owner dropped 16% after CEO Mark Zuckerberg warned the company was entering a new investment cycle, this time in artificial intelligence, that would take a while to flow through to create “profitable services.” Zuckerberg’s comments hit a nerve: Investors...

Meta Platforms’ warning of slowing growth and higher expenses Wednesday night sank the stock, which had run up 43% this year. But Meta executives, not surprisingly, focused on the bright spots —among them, video. Instagram Reels—Meta’s answer to TikTok—now makes up 50% of the time spent on the app, a pretty big number when you think about the feature’s...

During the artificial intelligence boom, chipmaker Nvidia became one of the most active corporate venture capitalists, investing in over 30 startups last year alone, according to PitchBook. Now it may become one of the most active acquirers of AI startups. Nvidia has recently struck two agreements to buy Israeli AI startups, including one of Run:ai,...

The next big test of the big IPO market for software firms comes later on Wednesday, when data security firm Rubrik is expected to price its initial public offering. On the surface, the company would be an unlikely IPO success right now. It is small and its business very niche, and it is losing money, which might turn off investors. To get Wall Street...

The promise of a chatbot that can write and fix code has attracted repeat investments in a six-month-old startup—even after it appeared to flub its product launch. Founders Fund has led a $175 million investment in Cognition, a startup that recently launched an artificial intelligence–powered coding assistant called Devin, according to an investor...

It’s been five days since the release of Meta Platforms’ highly-anticipated Llama 3 models, and the new large language models have seemingly won the mindshare of AI developers—so much so that barely anyone was talking about new model releases from Microsoft, Adobe and Amazon on Monday.A number of developers told me that they’re already experimenting...